Cryptocurrency Organizations Dispute SEC's Claims that SOL, MATIC, and ADA are Securities
Several cryptocurrency organizations have responded to the SEC's claims that SOL, MATIC, and ADA are securities being traded on non-compliant crypto exchanges. The tokens have a combined market capitalization of over $21 billion but have fallen around 30% each over the past seven days.
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.
Robinhood to Delist Cardano, Polygon and Solana Following SEC Charges Against Crypto Exchanges
Robinhood, a brokerage firm, has announced that it will delist Cardano, Polygon, and Solana after the US Securities and Exchange Commission (SEC) classified them as securities in its charges against two major crypto exchanges. The firm will end support for the three cryptocurrencies on June 27, but investors can still buy, sell, and hold ADA, MATIC, and SOL until the deadline.
IOG Rejects SEC Claim that ADA is a Security, Calls for Responsible Legislation
IOG, the Cardano development company, has rejected claims from the US Securities and Exchange Commission (SEC) that ADA, the blockchain's native token, can be considered a security. IOG stated that SEC lawsuits filed earlier this week against crypto exchanges Binance and Coinbase, which included ADA in a list of crypto tokens that count as securities, contained "numerous factual inaccuracies."
IOG Refutes SEC's Claim That Cardano's ADA Qualifies as a Security
Input Output Global (IOG), the company responsible for developing the Cardano blockchain, has responded to the U.S. Securities and Exchange Commission's (SEC) recent claim that Cardano's native token, ADA, is a security. IOG has denied the SEC's allegations and stated that ADA is not a security under U.S. securities laws.
Cardano Foundation Denies Security Charges Against Cardano
The Cardano Foundation has denied claims by the U.S. Securities and Exchange Commission (SEC) that Cardano (ADA) is among the securities hosted on the Binance platform. In response to the SEC's recent lawsuit against Binance, the foundation expressed disagreement with the classification of ADA as a security under U.S. law but expressed openness to dialogue with policymakers in seeking legal clarity.
Cardano Founder Charles Hoskinson Curious About Meaning of "Anything to Show For" Amid Criticisms
Charles Hoskinson, the founder of Cardano, responded to critics who claim that the blockchain does not have a working product. One Twitter user accused Hoskinson and the Cardano team of not delivering any functional product. Hoskinson expressed curiosity about what the critics meant by "anything to show for." Despite the criticisms, Cardano has continued to make significant progress and ADA is the second-largest crypto asset by staking market cap. Additionally, Marlowe was audited and deployed on the mainnet, and Cardano's recent development report showed comprehensive work being done behind the scenes.
Unlocking Cardano's Staking Potential: Atrium Lab Launches Innovative Solution for Delegating ADA to 50 Pools
Atrium protocol is set to launch multi-pool staking with rebalancing on Cardano, allowing users to lock ADA using smart contracts and rebalance between successful staking pools. The Staking Baskets, approved by MLabs, will enable Cardano users to delegate ADA to multiple staking pools seamlessly, promoting decentralization and portfolio diversification. Atrium protocol aims to simplify the onboarding of newcomers to the complex landscape of decentralized applications (dApps), wallets, etc., and reduce the barrier to entry for less tech-savvy users. Staking Baskets will offer smaller pools the necessary support required in launching their own combination of ADA staking pools for better rebalancing, promoting decentralization and portfolio diversification. Atrium introduces rebalancing infrastructure, LP, and DEX for seamless ADA and ATRIUM swaps.
Investors Back Tokens TMS Network (TMSN), Dogecoin (DOGE), and Cardano (ADA) Amid Turbulent Crypto Market
Despite the volatility of the crypto market, certain cryptocurrencies such as Dogecoin (DOGE), Cardano (ADA), and TMS Network (TMS) have managed to stand out and attract attention from investors and supporters. TMS Network (TMS) has raised $6 million in its private seed sale and continues to generate demand from eager investors. Dogecoin (DOGE) has experienced a surge in adoption and price, rising 30% year over year and capturing the attention of traditional businesses and influential figures. Cardano (ADA) is also trending after recent upgrades and continues to attract investors with its focus on scalability and energy efficiency. TMS Network (TMSN) is reshaping global finance with its decentralized investment platform and diverse tradable product selection, drawing investors with its low fees, swift transactions, and high liquidity.
Cardano's Whale Transaction Count Increases, Despite Bearish Market Indicators
Despite bearish market indicators, Cardano's on-chain metrics showed some positive trends. Whale transaction count increased, indicating active trading of ADA. The popularity of ADA among traders was reflected in the spike in DEX volume and TVL value. However, the ADA price decreased by 3% in the last seven days, and technical analysis suggests that it may fall further. While some metrics, such as demand in the derivatives market and transaction speed, were positive, Cardano's development activity slowed down last week.
