Cardano (ADA) Trading Halted on Bittrex
A bug takes down Cardano trading on its largest exchange
Yesterday, I wrote about Cardano (ADA) in the article A Scientific Philosophy Based Cryptocurrency. I had purchased 200 coins on Bittrex the night before as I saw it heading upwards. At one point, it had a 200% 24 hour increase. Trying to gain some profits, I cashed out with a 125% profit in only 24 hours of holding. If I had been able to keep a closer eye on things and been a little bolder, I might have gotten more. Confident that Cardano would continue to go up, I waited for a dip and was able to jump back in with a 400 coin purchase. And then, as I checked later in the evening, I noticed that trading was halted.
~ Source https://www.coingecko.com/en/price_charts/cardano/usd#panel
I checked again this morning and saw that trading was still halted and the price had dropped some from the night before. The message on Bittrex said "Halted for maintenance". The first time I saw it, I just figured it was some normal maintenance. But, after it wouldn't go away this morning, I knew there was something up, but I wasn't sure what it was.
~ Source: https://twitter.com/InputOutputHK/status/935845924848504833
I just happened to catch the 2nd Tweet later and now I knew why trading was halted. I am also assuming, that since Bittrex and Cardano's exchange Daedalus are the only two listed exchanges, that when Bittrex starts working again, the price will hopefully start to rise again. Regardless, I am still up from the price I bought back into Cardano last night.
Now, I don't know if the issue is Bittrex or Cardano, but it doesn't give me the warm fuzzies when the self proclaimed
"blockchain platform with more advanced features than any protocol yet developed"
goes down for over an hour on the biggest exchange available to trade it.
~ Source: https://twitter.com/InputOutputHK/status/935590513998270466
Maybe it had to do with the change that allowed for it to be paired with Ethereum(ETH). Whatever the cause, I hope they have an internal review on why it happened in the first place.
~ Source : https://twitter.com/InputOutputHK/status/935849627173228544
As for trading on Daedalus, I think I will wait until it has multiple alt-currencies available. If they can provide the number of trade-able coins with lower fees and more security, then I am willing to give it a try. However, if it becomes glitchy and prevents trading due to bugs, then it will most likely hurt Daedalus, Cardano and the reputation of IOHK.
Let the positive energy sing!
More Power to the Minnows!!
