Securities Services Firm Robinhood’s Net Accumulated Funding Accounts Hit $23.1 Million in May, Up 1.3% From a Year Ago, but Active Users Fell 27%
According to news released by LiveSquawk, the securities service company Robinhood’s net cumulative fund account reached 23.1 million US dollars in May, a year-on-year increase of 1.3%, but the number of active users fell by 27%. Previously, Robinhood will end support for Cardano (ADA), Polygon (MATIC) and Solana (SOL) at 6:59 GMT on June 28.
Cardano [ADA] Becomes Top Altcoin Based on Social and Market Activity, Bullish Sentiment Outweighs Bearish Comments
Cardano's ADA has become the top altcoin based on social and market activity, moving up 116 places according to LunarCrush's Altrank algorithm. The increase in social engagement by 71.4% in the last 24 hours contributed to the rise in sentiment towards ADA, which saw bullish sentiments outpace the market's bearish perception.
SEC Lawsuit Triggers Major Decline in Blockchain Tokens
Over the past 24 hours, major blockchain tokens have experienced a significant drop of over 20%, following allegations by the SEC that 13 tokens are securities. Solana and Cardano saw the most significant losses, dropping up to 25% in a short period. Speculation suggests a major crypto fund may have offloaded its holdings during these illiquid market conditions.
Cardano's Reconciliation Efforts Amidst SEC Crackdown and Market Uncertainty
Amidst the SEC's crackdown on cryptocurrencies and the uncertain market, investors are showing interest in Cardano. Charles Hoskinson's recent efforts to reconcile with the XRP community are seen as important for maintaining unity within the cryptocurrency sector.
The Crypto Market Sees Devastating Correction, Resulting in $350M Worth of Longs Liquidated
The crypto market experienced a devastating correction, with $350M worth of longs being liquidated. In just two-three days, the majority of altcoins plummeted by 30%, causing investors to suffer heavy losses. Short sellers were also caught off guard, with $50M in short positions being liquidated. Cardano (ADA) suffered the most with a 40% drop, followed by Binance Coin (BNB) at 23%.
Cardano (ADA) Investors See Profitability Plummet to 5% Amid 40% Value Plunge
Cardano (ADA) investors have experienced a sharp drop in profitability to just 5%, following a 40% decline in the value of the altcoin. This decline has left 93% of ADA holders in a state of loss, with only 2% breaking even.
Cardano Founder Charles Hoskinson and XRP Community Agree to Make Peace Amid SEC Lawsuits
Cardano founder Charles Hoskinson and the XRP community are reportedly making peace after a period of trolling and criticism.
SEC's Lawsuits and Robinhood's Decision Cause Significant Drop in ADA, SOL, and MATIC Cryptocurrency Prices
The cryptocurrency market is facing uncertainty following the Securities and Exchange Commission's (SEC) recent action against assets that may be considered securities. This has resulted in a significant drop in the value of popular cryptocurrencies such as Cardano (ADA), Solana (SOL), and Polygon (MATIC), raising concerns about their long-term sustainability. In the past 24 hours, these three cryptocurrencies have seen an average decline of 23% in their value, with a collective capital outflow of $6.04 billion in just one day. The SEC's lawsuits against crypto exchanges Binance and Coinbase for listing unregistered securities have also contributed to the drop in asset prices.
Cardano Plummets 23% Amid SEC Lawsuit and Altcoin Market Downturn
Cardano has suffered a significant decline in value over the past few days, with a 23% drop in the last 24 hours. This has led to the liquidation of nearly $400 million worth of altcoins. The SEC's lawsuit against Coinbase, which includes allegations that some altcoins are securities, has caused concern among investors, with Cardano being one of the affected cryptocurrencies. Despite this, Cardano's Input Output Global has released a statement denying that ADA is a security.
Shiba Inu (SHIB) Survives Robinhood's Delisting of Cryptocurrencies
Robinhood, the American trading platform, has announced that it will delist Cardano, Solana, and Polygon from its platform by June 27, 2023. However, Shiba Inu (SHIB), the popular canine-themed cryptocurrency, will remain unaffected by this decision. The burn rate of SHIB tokens has increased significantly, potentially contributing to increased scarcity and value. The delisting decision may have been influenced by recent lawsuits involving major exchanges like Binance and Coinbase initiated by the United States Securities and Exchange Commission (SEC).
