Cardano (ADA) and Solana (SOL), two cryptocurrencies, had worse losses on Tuesday than the overall crypto market, right before trading platform Robinhood was scheduled to delist them at 6:59 p.m. ET. According to a statement made by Robinhood on June 9, support for ADA, SOL, and MATIC would terminate on June 27 “based on [their] latest review.” The choice was made shortly after the three tokens were identified as securities in SEC cases filed against Binance and Coinbase.
According to CoinDesk data, ADA and SOL fell by 2.3% and 1.8%, respectively, over the last day, while the larger CoinDesk Market Index (CMI) increased by 0.6%. The original cryptocurrency for the Polygon Network, Polygon (MATIC), was flat. The values of the three crypto assets have decreased by almost 5% since Robinhood stated on June 9 that it will no longer offer the three tokens, whilst the CMI has increased by roughly 9% within the same time frame.
Subsequently, users of the Robinhood app will be able to trade 15 alternative crypto currencies, such as bitcoin (BTC), ether (ETH), dogecoin (DOGE), and avalanche (AVAX), which weren’t listed as securities in the SEC’s litigation.