Robinhood will delist ADA, MATIC, and SOL named in SEC lawsuits; Binance CEO announced the amount that came out of the stock market: 392 million dollars; Whales keep buying Bitcoin (BTC)!
Cryptocurrency and stock trading app Robinhood has announced that it will end support for ADA, MATIC, and SOL, days after the SEC filed a lawsuit against Coinbase and Binance.
Robinhood, in an update today, stated that it will end support for these three tokens as of June 27. In a statement on Twitter, the company cited the SEC’s actions as the reason for the delusion. According to the company, the lawsuits are creating a cloud of uncertainty over these tokens.
Robinhood said that:
“We believe in the future of cryptocurrencies and will continue to advocate for regulatory clarity in the US so that customers can participate more securely in the market,”
On June 5, the SEC sued Binance for the sale of unregistered securities. The regulator named 13 tokens as unregistered securities, including ADA, MATIC, and SOL.
Dan Gallagher, former SEC official and Robinhood chief legal compliance and corporate affairs officer, said during a June 6 congressional hearing that the requirements the SEC has set for crypto companies are tough.
Similarly, Binance and the company’s CEO, Changpeng Zhao, were also targeted by the SEC.
Binance CEO announced the amount that came out of the stock market: 392 million dollars!
Binance CEO Changpeng Zhao revealed how many exits were made from the stock market. According to CZ speaking on Twitter, $392 million has been exited from Binance in the last 24 hours.
CZ used the following statements:
“According to the data, the net worth of exits from Binance is $392 million.
Our wallet addresses are open to everyone. Some analysts measure changes in AUM as output. However, this decline also reflects the decline in crypto prices. These are two different things”
Further in his statement, CZ also said that some analysts ignored the entries and only evaluated the exits:
“Some even measure only the outputs, not the inputs.On a day of sharp price movements like today, many arbitrage traders move much larger amounts of funds between exchanges than on normal days.For reference, we processed a net outflow of $7 billion in one day last November.”
Whales keep buying Bitcoin (BTC)!
According to a recent report from crypto data monitoring portal Santiment, Bitcoin whales are accumulating an impressive number of Bitcoins despite the recent 10 percent drop in price. The whales, holding between 100 and 10,000 BTC, collectively accumulated another 57,578 BTC. This buildup has created a notable bullish divergence that signals a potential strong recovery in the near future.
As the altcoin craze continues, there is a quietly bullish divergence between Bitcoin accumulating whales and falling price. With whale holdings increasing by an average of one thousand BTC per day as prices plummeted, there is reason to believe that a strong recovery could occur.
Bitcoin price and whales
While Bitcoin has experienced a significant price drop of 10 percent since April 9, it is worth noting that whales add about 1,000 BTC to their wallets every day. This unexpected trend emerged amid the ongoing frenzy around altcoins.
At the time of this writing, Bitcoin is trading at $25,769, down 0.57 percent in the last 24 hours. BTC recorded its most significant weekly drop in the last 30 days, down 4.98 percent. Given the current situation, it is becoming increasingly difficult to make accurate predictions about Bitcoin’s future price movements. However, the observations provided by Santiment provide valuable insight into the current scenario, shedding light on the dynamics behind the scenes.
With this notable increase of around 1,000 BTC per day in whale holdings despite falling prices, there are strong indications that a bullish scenario may be on the horizon. These intriguing findings give the market optimism, suggesting that a potential robust recovery for BTC may be on the table.