Cardano (ADA) Price Falls Off a Cliff While Yoroi Wallet Becomes Available for Android

Today, Yoroi Wallet for Cardano announced that it is now available for Android and soon will be coming for iOS devices.

Emurgo’s Yoroi – The Cardano Wallet is a lightweight wallet that reportedly launches quickly and allows the users to start sending and receiving DA within minutes. This wallet further allows users to manage ADA on their phones.

According to the description provided on the Google Play,

“The Yoroi Android App is small and can be downloaded without using much bandwidth. Additionally, Yoroi is a light wallet, which means it does not require a full copy of the blockchain to be stored on the user's device. This means the bandwidth requirements for using the wallet are also low.”

The private keys of the users are only stored locally on the device of the user itself and never on any centrally-hosted servicers. Also, the data regarding private keys is encrypted with a wallet password. In order to make it easier to manage ADA, Yoroi supports four languages.

Yoroi took to Twitter to share the exciting news with Cardano (ADA) enthusiasts,

⚡ Super good news! EMURGO's Yoroi Wallet now Android App Approved!⚡ Click to Here to download: https://t.co/lUyzFUAdtt

+ iOS coming soon! RT and Share

— Yoroi Wallet (@YoroiWallet) January 28, 2019

“Super good news! EMURGO's Yoroi Wallet now Android App Approved!+ iOS coming soon!”

Cardano Foundation also shared the news on Twitter,

Meanwhile, ADA is Free Falling

On the price front, things are really bad. The market is in deep red and its effect can easily be seen on Cardano (ADA). At the time of writing, ADA has been trading at $0.038 while incurring losses of 7.87 percent in the past 24-hours. In the BTC market as well, it is in the red by 4.54 percent.

ADA 5-days price chart, Source: TradingView

With a market cap of $988 million, Cardano is currently sitting at 11th position. Meanwhile, it is managing the daily trading volume of $28 million.

In the currently red market, with around 10 percent loss Bitcoin Cash (BCH), Stellar (BCH), Tron (TRX), Bitcoin SV, NEM, and Maker are down more than Cardano.

From its all-time high at around $1.18 in early January 2018, Cardano is currently heavily discounted that is by over 96 percent. This looks like a good time for Cardano investors to buy ADA as one such enthusiast replied to crypto trader Moon Overlord’s “ADA just fell off a cliff” Tweet, “That’s good, I get to buy more on a bargain.”