Cardano, Solana & Polygon in Crisis: Crypto Space Hits Bottoms

[Coinpedia Fintech News]

Hey there! Just wanted to share some interesting news with you. The SEC recently charged Binance and Coinbase for violating US rules and regulations, and they also classified a few tokens as securities.

Since then, these tokens have been on a bit of a downward trend. Robinhood, which is a major trading platform, decided to remove Cardano (ADA), Solana (SOL), and Polygon (MATIC) from its listings because the SEC categorized them as securities.

As a result, the prices of these three tokens have dropped quite a bit, with losses of around 22.23%, 21.89%, and 22.86% respectively.

They're currently among the top losers for the day.

Get the detailed analysis on Coinpedia

[tsakf]

Hey there! Just wanted to share some interesting news with you. The SEC recently charged Binance and Coinbase for violating US rules and regulations, and they also classified a few tokens as securities.

Since then, these tokens have been on a bit of a downward trend. Robinhood, which is a major trading platform, decided to remove Cardano (ADA), Solana (SOL), and Polygon (MATIC) from its listings because the SEC categorized them as securities.

As a result, the prices of these three tokens have dropped quite a bit, with losses of around 22.23%, 21.89%, and 22.86% respectively.

They're currently among the top losers for the day.

Get the detailed analysis on Coinpedia

Categorizing tokens as securities, is a problem. All token issuers, will have to follow ruling of security creation. Cryptocurrency will thrive in other countries, with less strict rules.

[Carlit0]

I'll give an example with the last token I bought, Cirus. It went down to the price it was 3 months ago, as if I had waited all this time for nothing.

[WizardOfAlts]

I think they will regret attacking these projects, they try to kill innovation but will probably be left behind...

[cryptolinkbase.com]

The definition of what is securities is not clear, this will take years to make sentence (look XRP).
Cardano (ADA), Solana (SOL), and Polygon (MATIC) has it's sins, everybody knows that (ICO pools) and SEC try to hit it.  SEC is searching for weaker points of crypto, i'm waiting for hitting the AAVE and other DeFi protocols, this will hurt. Thus we can only believe that this operation will make crypto more transparent. We all like Polygon for small payments because of TX fees, but we know that is not true decentralized blockchain.

[Rembroman]

They were unlucky, it may be a long wait until the situation is corrected and these tokens will give xs again. But for now it is worth paying attention to alternative opportunities to earn some crypto, for example on the new web3 quest from TFS, there is a large prize pool, so you can easily get some of the money

[Claster79]

Thank you for sharing the news about the SEC charging Binance and Coinbase and their classification of certain tokens as securities. It's important to stay updated on regulatory developments in the cryptocurrency space as they can have an impact on market dynamics.

The removal of Cardano (ADA), Solana (SOL), and Polygon (MATIC) from Robinhood's listings due to the SEC classification is certainly a significant event that has affected their prices. It's not uncommon for such regulatory actions to cause short-term price declines and market volatility.

For more detailed analysis on these developments and their implications, checking reliable sources like Coinpedia can provide valuable insights. It's crucial for investors to stay informed and exercise caution in the crypto market.

[bom_bom]

They were unlucky, it may be a long wait until the situation is corrected and these tokens will give xs again. But for now it is worth paying attention to alternative opportunities to earn some crypto, for example on the new web3 quest from TFS, there is a large prize pool, so you can easily get some of the money

Did you find out about this event, too? It's so simple, I think I can get most of the prize money