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Revolut to delist Polygon, Solana and Cardano

  • Revolut is taking the step after its US-based partner Bakkt recently delisted the tokens.
  • MATIC, ADA and SOL will however still be available on Revolut across other markets.
  • Robinhood and eToro have recently also announced similar token delistings.

Revolut will end support for three major cryptocurrencies, the crypto-friendly bank has told its customers in the United States. 

The company said in a notice emailed to US customers that it will be delisting Cardano (ADA), Polygon (MATIC) and Solana (SOL). The “financial super app” added a host of tokens in early 2021 as demand skyrocketed amid the crypto bull market.

Revolut’s US partner delisted the tokens

London-based Revolut’s decision to delist ADA, MATIC and SOL comes as the company responds to the prevailing regulatory environment in the US.

The past few months have seen the US Securities and Exchange Commission (SEC) up its regulatory crackdown on multiple crypto platforms. 

Last month’s lawsuits against Binance and Coinbase highlighted the tough regulatory landscape crypto businesses faced in the US as the industry continued to fight for clarity from relevant authorities.

After the agency, led by Chair Gary Gensler, alleged the above coins and many others were securities, Revolut’s US partner Bakkt moved to delist Polygon, Cardano and Solana. The publicly-listed crypto custodian announced the delistings in mid-June.

Revolut has advised customers to sell their holdings on the app before September 18, after which any unsold assets will be sold and the cash deposited in users’ fiat accounts. 

Notably, the delisting only affects US-based users, meaning support will continue across other markets. There has also been other platforms that moved to remove various crypto tokens, including Robinhood and eToro.

The post Revolut to delist Polygon, Solana and Cardano appeared first on CoinJournal.

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Celo price goes parabolic amid rapid ecosystem growth

  • Celo crypto price has gone parabolic in the past few days. 

  • The network’s ecosystem growth has continued to accelerate.

  • Celo recently integrated Chainlink in its ecosystem.

Celo price has made a spectacular comeback this month, making it one of the best-performing cryptocurrencies in the industry. The token soared to a high of $0.6736 on Monday, the highest level since April 19th. It has jumped by more than 85% from the lowest level in June. 

Celo user growth continuing

Celo is a fast-growing blockchain that is gaining traction among developers and users. The platform is used to build quality dApps in all industries, including DeFi and non-fungible tokens (NFTs). It is able to handle about 11.99 blocks per second.

Celo’s ecosystem growth has continued. According to DeFi Llama, the total value locked (TVL) jumped to more than $116 million. The biggest DeFi apps in the ecosystem are Mento, Curve DEX, Uniswap V3, and Moola Market among others.

The main reason why Celo price is soaring is that the number of active users in the ecosystem is growing. For example, data compiled by Dune Analytics shows that the number of transactions in the ecosystem has jumped to over 228 million. 

Celo has handled over 20.15 million blocks over the years while the number of active addresses jumped to over 2.4 million. It has handled over 12.1 million contracts.

The other important Celo news is that the developers recently integrated Chainlink’s data feeds. Chainlink, the biggest oracle network in the world. An oracle is a platform that connects off-chain data to the on-chain. In an announcement, the head of ecosystem growth at Celo said:

“Chainlink Data Feeds will empower Celo developers, providing critical access to oracle data and services and bolster Celo’s dApps to drive real-world impact and solutions.”

Celo price prediction

The 4H chart shows that the CELO crypto price has made a strong bullish trend in the past few weeks. As it jumped, the token rose above the key resistance point at $0.5686, the highest level on June 3rd. It has moved above the 25-day and 50-day moving averages.

A the same time, the Relative Strength Index (RSI) moved to the overbought level. The MACD has jumped to the highest level in months. Therefore, with the coin being overbought, there is a likelihood that Celo will retreat and retest the support at $0.5686. 

How to buy Celo

eToro

eToro is a global social investment brokerage company which offers over 75 cryptocurrencies to invest in. It offers crypto trading commission-free and users on the platform have the option to manually invest or socially invest. eToro even has a unique CopyTrader system which allows users to automatically copy the trades of popular investors.

Buy CELO with eToro today

Binance

Binance is one of the largest cryptocurrency exchanges in the world. It is better suited to more experienced investors and it offers a large number of cryptocurrencies to choose from, at over 600. Binance is also known for having low trading fees and a multiple of trading options that its users can benefit from, such as; peer-to-peer trading, margin trading and spot trading.

Buy CELO with Binance today

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Largest crypto ATM operator Bitcoin Depot debuts on Nasdaq after SPAC merger

  • Bitcoin Depot has merged with special purpose acquisition company (SPAC) GSR II Meteora (GSRM).
  • Bitcoin Depot went ahead to also debut on Nasdaq after the merger.
  • Bitcoin Depot shares more than doubled after debut.

Following a merger with special purpose acquisition company (SPAC) GSR II Meteora (GSRM), which was valued at $885 million in August, shares of Bitcoin Depot, the largest crypto ATM operator in the world, more than doubled on their Nasdaq debut Monday.

Bitcoin Depot, situated in Atlanta, Georgia, and trading under the ticker “BTM,” is the first provider of cryptocurrency ATMs to be listed on a significant American stock exchange.

In pre-market trading, BTM shares climbed as high as $6.60, more than double GSRM’s closing price on Friday, before tumbling to $3.39, which is still up 5% from Friday’s price.

Bitcoin Depot controls a 20% market share of ATMs

According to information from Coin ATM Radar, Bitcoin Depot operates approximately 6,000 of these machines, holding a 20% market share of ATMs in the United States and a 17.6% global share.

There is a lot of space for consolidation in the cryptocurrency ATM business because it is “highly fragmented,” according to Bitcoin Depot CEO Brandon Mintz. The company is now focusing on this area.

According to Mintz, after installing crypto ATMs in more than 2,000 Circle K convenience stores over the last two years, Bitcoin Depot is pursuing analogous installation deals with other “household name retailers.”

With the help of crypto ATMs, customers purchase cryptocurrency with cash or debit cards and wire the tokens directly to a specific wallet without using a cryptocurrency exchange. However, scammers who advertise things on websites like eBay or Craigslist with instructions for buyers to pay by depositing actual cash at an ATM have also used them.

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