Revolut, a financial app, has recently stopped US customers from trading Solana (SOL), Cardano (ADA), and Polygon (MATIC).
Delisting the three altcoins
A recent report from Bloomberg has stated that the UK-based company is delisting these three altcoins due to Bakkt, their provider, removing support for the tokens in June until there is more regulatory clarity.
The delisting comes after the U.S. Securities and Exchange Commission (SEC) labeled the tokens as unregistered securities in separate lawsuits filed last month against top crypto exchanges Coinbase and Binance.
As per the report, Revolut has set a deadline of September 18th for its customers in the US to sell or transfer their tokens from the platform. Post the deadline, the platform will automatically sell the tokens at market prices and deposit the proceeds into the customers’ accounts.
Revolut has clarified that it does not intend to delist the tokens in markets outside the US. This action is similar to what other platforms have taken in response to the SEC lawsuits.
Last month, Robinhood removed three tokens from its listings, while eToro suspended purchases of Polygon, Algorand (ALGO), Decentraland (MANA), and Dash (DASH) due to concerns related to layer-2 scaling solutions, smart contract platforms, and privacy-focused protocols.
Rallies are around the corner for some altcoins
A crypto trader with a large following has made predictions about the rise of certain altcoins, including Dogecoin (DOGE) and Pepe (PEPE) memecoins.
The trader, known as Kaleo, believes that DOGE is headed for a bullish trend after breaking its diagonal resistance on the four-hour chart. Kaleo’s analysis suggests that if DOGE surpasses its horizontal resistance at $0.072, it could experience significant upward movements.
“We’ve already seen a decent resistance break for DOGE on the USD chart.
Expecting acceleration above a reclaim of $0.072 (early June pre-breakdown/capitulation level).”
At time of writing, DOGE is trading for $0.068.
Looking at fellow meme token Pepe, Kaleo believes that the altcoin is gearing up for a rally after moving above its diagonal resistance on the four-hour chart.