Cardano (ADA) is facing regulatory scrutiny as two US exchanges have attracted the attention of the SEC. The SEC has classified certain altcoins, including ADA, as securities, directly impacting ADA. The Cardano team disagrees with the SEC’s position but the consequences of the scrutiny are starting to show. Huobi has announced the delisting of specific Cardano trading pairs, although this has had little impact on the price of ADA. The market response has been relatively subdued, with ADA’s price declining by 1.8% in the past 24 hours. However, this price movement cannot be solely attributed to the delisting announcement. Despite concerns and delisting actions, Cardano has maintained a crucial price level and demonstrated resilience, suggesting that market participants are not reacting significantly to the news. Cardano’s price decline of 0.9% over the past seven days is relatively marginal, indicating that market sentiment towards ADA remains stable. Investors and traders have confidence in the token’s ability to withstand challenges and maintain its value. Huobi’s delisting is part of a strategic decision aimed at improving the trading experience for users, but it raises questions about the future classification and regulatory treatment of ADA in the cryptocurrency market.
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