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Biggest Movers: ADA, MATIC Plunge by Nearly 25%, Following Robinhood Delisting 


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ADA, MATIC plunge by nearly 25%, following Robinhood delisting

Cardano fell by over 25% on Saturday, as traders continued to react to the token being delisted from the Robinhood platform. The global cryptocurrency market cap is currently down by nearly 6%, following these developments. Polygon, which was also delisted, dropped to a one-year low to start the weekend.

Cardano (ADA)

Cardano (ADA) dropped markedly on Saturday, as traders continued to react to the token being delisted from the Robinhood platform.

Following a high of $0.3218 on Friday, ADA/USD slipped to a bottom at $0.2304 to start the weekend.

Looking at the chart, the decline came as the relative strength index (RSI) plunged below a floor at the 30.00 mark, entering oversold territory.

At the time of writing, the index is currently tracking at 17.75.

ADA is currently trading at $0.2509, down 22% from yesterday’s peak.

Polygon (MATIC)

Additionally, polygon (MATIC) lost a significant amount of its value to start the weekend, nearing a one-year low in the process.

MATIC/USD sank to a bottom at $0.5605 on Saturday, as prices dropped by nearly 30% from yesterday’s high.

As a result of this decline, the world’s twelfth-largest cryptocurrency moved to its lowest point since last July.

Overall, the token is now down close to 40% in the last seven-days, after breaking out of a support point at $0.75.

This has also led to the 10-day (red) moving average (MA) extending a downwards crossover versus the 25-day (blue) MA.

Price strength is also deeply oversold with a reading of 16.22, which is an all-time low point.

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Do you expect further declines in polygon in the coming days? Let us know your thoughts in the comments.

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