{"id":24753,"date":"2023-06-27T07:27:58","date_gmt":"2023-06-27T07:27:58","guid":{"rendered":"https:\/\/coingrafter.com\/index.php\/2023\/06\/27\/cardano-solana-polygon-matic-under-selloff-pressure-from-robinhood-and-celsius\/"},"modified":"2023-06-27T07:27:58","modified_gmt":"2023-06-27T07:27:58","slug":"cardano-solana-polygon-matic-under-selloff-pressure-from-robinhood-and-celsius","status":"publish","type":"post","link":"https:\/\/coingrafter.com\/index.php\/2023\/06\/27\/cardano-solana-polygon-matic-under-selloff-pressure-from-robinhood-and-celsius\/","title":{"rendered":"Cardano, Solana, Polygon (MATIC) Under Selloff Pressure From Robinhood and Celsius"},"content":{"rendered":"

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Cardano (ADA), Solana (Solana), and Polygon (MATIC) dealing with a much-anticipated selloff from Robinhood Markets and Celsius. Robinhood will promote these cryptocurrencies on June 27, whereas Celsius to liquidate its crypto holdings over a time frame beginning July 1. Robinhood can also be shedding round 150 staff, 7% of its workforce, attributable to lowered buying and selling quantity and higher align the workforce constructions.<\/p>\n

Cardano, Solana, Polygon (MATIC) Selloff<\/h2>\n

After the US SEC lawsuits in opposition to Binance and Coinbase, Robinhood introduced to finish of help for Cardano (ADA), Polygon (MATIC), and Solana (SOL) on June 27, 2023 at 6:59 PM ET. The US SEC contemplating high cryptocurrencies Cardano (ADA), Polygon (MATIC), and Solana (SOL) as securities confronted backlash from the crypto neighborhood.<\/p>\n

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Robinhood customers have withdrawn or bought roughly half of their holdings during the last two weeks. It is estimated that Robinhood to promote $15 million of MATIC, $25 million of $25 million, and ADA price $30 million.<\/p>\n

Jump Trading, which manages crypto for Robinhood, will liquidate all remaining holdings instantly after 6:59 PM ET on June twenty seventh. As per specialists, choices embrace promoting it OTC, taking it onto their books, hedging on perps, and depositing to centralized exchanges.<\/p>\n

In addition, Celsius will regularly liquidate crypto property beginning July 1. As per their submitting, the agency maintain $2.5 million price of <\/span>SOL<\/span>, $26 million of <\/span>ADA<\/span>, and $60 million price of <\/span>MATIC<\/span>.<\/span><\/p>\n

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Cardano, Solana, and MATIC are underperforming the market and its friends because the Robinhood and Celsius bulletins earlier this month.<\/p>\n

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ADA worth presently trades at $0.27, down 3% within the final 24hrs. Solana and Polygon (MATIC) costs commerce at $16.46 and $0.65, dropping 3% and 1% in 24hrs.<\/p>\n

Also Read: Why July Is Crucial For Ripple Vs SEC Lawsuit, XRP Price & Overall Crypto Market?<\/a><\/strong><\/p>\n

Robinhood Lays Off 7% Of the Workforce<\/h2>\n

According to a report<\/a> by Wall Street Journal, Robinhood Markets is slashing 7% of its full-time employees. The layoff is predicted to have an effect on 150 staff \u2014 the web brokerage agency\u2019s third spherical of layoffs in a 12 months.<\/p>\n

Robinhood continues to face troubles attributable to a decline in month-to-month energetic customers and income. The fall in buying and selling volumes and regulatory stress have prompted new points for the web brokerage agency.<\/p>\n

Also Read: Terra Luna Classic (LUNC) Community Supports USTC Repeg And Quant Team Proposal<\/a><\/strong><\/p>\n

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