The Cardano community is concerned about Robinhood and Celsius selling ADA
Recent Cardano community discussion has centered on the potential substantial liquidation of ADA by Robinhood and Celsius. Concerns are emerging across the Cardano ecosystem about the likelihood of a large-scale liquidation of the ADA coin by Robinhood and Celsius. The reasons for these two platforms’ decisions differ, but the prospect of a significant sell-off has raised some eyebrows in the community.
The Cardano community has a wide range of viewpoints. Some argue that such large-scale disposal would not be unusual for the ADA, dismissing negative speculation as symptoms of fear, anxiety, and doubt. I don’t believe it’s FUD. Personally, I am concerned because Ada is currently frozen and will be released into the wild. But I’m not too concerned; I just need to keep an eye on my CDPs in case they decide to dump in the middle of the night.
They contend that the combined holdings of Robinhood and Celsius represent a negligible proportion of total ADA trading volume, and that investors have had ample chance to shift their ADA holdings to alternative wallets.
You might also be interested in: Robinhood will discontinue support for Cardano, Polygon, and Solana. However, some members of the community are dissatisfied with the situation. They emphasize that Robinhood has set a cutoff date of June 27 after which all remaining ADA will be sold at market value. Jump Crypto, which is in charge of managing Robinhood’s crypto assets, will be required to promptly sell its remaining ADA holdings.
Celsius, on the other hand, has broader leeway and is likely to phase out its ADA holdings over time. The major question in this scenario is which path Jump will pursue, with choices ranging from an off-market sale to shifting the assets to centralised markets. The Cardano community is keeping a careful eye on the situation, as substantial ADA offloads by Robinhood and Celsius remain a possibility.
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