In short: Cardano (ADA) plunged by over 25% and Polygon (MATIC) dropped to a one-year low over the weekend following their delisting from Robinhood. The global cryptocurrency market cap also fell by nearly 6% due to these developments. ADA is currently trading at $0.2509, down 22% from its peak on Friday, and MATIC/USD dropped by nearly 30% from its high. Overall, MATIC is down close to 40% in the last seven days.
Our quick analysis:
Over the weekend, the crypto market experienced a sharp decline following the news that Robinhood had delisted two popular cryptocurrencies, Cardano (ADA) and Polygon (MATIC). While the news was upsetting for many crypto traders, it did not come as a complete surprise.
ADA Drops Over 25%
Cardano, the sixth-largest cryptocurrency, fell by over 25% on Saturday, reaching a low of $0.2304. The sharp decline was a reaction to the news that Robinhood had delisted the token from its platform. Although ADA has since rebounded slightly to $0.2509, it is still down 22% from its peak on Friday.
MATIC Nears One-Year Low
Polygon, which was also delisted from Robinhood, reached a low of $0.5605 on Saturday, a drop of nearly 30% from its high on Friday. The token is now down close to 40% in the last seven days, after breaking out of a support point at $0.75. Price strength for MATIC is also deeply oversold, reaching an all-time low point of 16.22.
What's Next for Crypto Traders?
As the crypto market continues to experience volatility, many traders are left wondering what's next for ADA and MATIC. While some believe that the tokens will continue to decline in the coming days, others are more optimistic and see this as a buying opportunity.
Regardless of what happens in the crypto market, it is important for traders to stay informed and keep an eye on market trends. Whether you are a seasoned trader or a newcomer to the world of crypto, staying up to date with the latest news and developments is key to making informed investment decisions.
So, what do you think about the recent delisting of ADA and MATIC? Let us know in the comments below.
Image provided by Unsplash
Disclaimer: Our articles are NOT financial advice, and we are not financial advisors. Your investments are your own responsibility. Please do your own research and seek advice from a licensed financial advisor beforehand if needed.
Our quick analysis:
Over the weekend, the crypto market experienced a sharp decline following the news that Robinhood had delisted two popular cryptocurrencies, Cardano (ADA) and Polygon (MATIC). While the news was upsetting for many crypto traders, it did not come as a complete surprise.
ADA Drops Over 25%
Cardano, the sixth-largest cryptocurrency, fell by over 25% on Saturday, reaching a low of $0.2304. The sharp decline was a reaction to the news that Robinhood had delisted the token from its platform. Although ADA has since rebounded slightly to $0.2509, it is still down 22% from its peak on Friday.
MATIC Nears One-Year Low
Polygon, which was also delisted from Robinhood, reached a low of $0.5605 on Saturday, a drop of nearly 30% from its high on Friday. The token is now down close to 40% in the last seven days, after breaking out of a support point at $0.75. Price strength for MATIC is also deeply oversold, reaching an all-time low point of 16.22.
What's Next for Crypto Traders?
As the crypto market continues to experience volatility, many traders are left wondering what's next for ADA and MATIC. While some believe that the tokens will continue to decline in the coming days, others are more optimistic and see this as a buying opportunity.
Regardless of what happens in the crypto market, it is important for traders to stay informed and keep an eye on market trends. Whether you are a seasoned trader or a newcomer to the world of crypto, staying up to date with the latest news and developments is key to making informed investment decisions.
So, what do you think about the recent delisting of ADA and MATIC? Let us know in the comments below.
Image provided by Unsplash
Disclaimer: Our articles are NOT financial advice, and we are not financial advisors. Your investments are your own responsibility. Please do your own research and seek advice from a licensed financial advisor beforehand if needed.
0 Comments
Please, behave!