<p><img alt="Cardano’s Transaction Volume Sees Huge Upsurge Amid Price Fluctuations: ADA Network In Bullish Outlook" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" height="700" src="https://zycrypto.com/wp-content/uploads/2023/05/Cardanos-Transaction-Volume-Sees-Huge-Upsurge-Amid-Price-Fluctuations-ADA-Network-In-Bullish-Outlook.jpg" width="1200" /></p>Cardano is set to experience significant growth following notable developments within its network.

Cardano’s Explosive Network Developments Fuel Speculation for $1 ADA Price Milestone

Coinbase CEO Brian Armstrong has revealed that the crypto exchange will not shut down its staking program. Chief Legal Officer Paul Grewal added that the exchange had no plans to delist the tokens named in the SEC's lawsuit.

Coinbase Has No Plans To Shut Down Staking Or Delist Tokens

Launched by Smart Citi, it will be the second stablecoin in the Philippines and plans to tap the $36 billion annual remittance market and serve the unbanked. [...]
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The post Filipino fintech launches stablecoin targeting the unbanked and remittances appeared first on CoinGeek.

Filipino fintech launches stablecoin targeting the unbanked and remittances

PEPE has seen its best day in the last couple of weeks as the meme coin is finally trading in the green once more. This recovery is out of left field given the meme coin hype died down about two weeks ago as investors moved on to better things. However, this recovery could signal a […]

PEPE Jumps 15% In One Day: Is Meme Coin Season Returning?

Cardano (ADA) has emerged as one of the worst performers over the last day despite the rest of the market seeing some upside. This can be attributed to the security charges from the United States Securities and Exchange Commission (SEC), a classification that has loomed heavy over staking tokens in the last year. Cardano Foundation Deny Security Claims In the SEC lawsuits that have circulated against crypto exchanges such as Binance and Coinbase this week, the SEC has pointed to some cryptocurrencies as being securities in a bid to nail the exchanges for unregistered securities trading. Related Reading: Not Immune To FUD? Binance Sees $1.5 Billion In Outflows In 24 Hours One of the cryptocurrencies that were named is Cardano, a network that uses a proof of stake mechanism where users stake their native token, ADA, to help secure the network, and earn rewards for it. ADA was named among a list of other tokens including MATIC, BUSD, BNB, FIL, SOL, SAND, ATOM, MANA, COTI, AXS, and ALGO. And despite this already long list, the SEC seems to believe more tokens qualify as securities given the wording of “including but not limited to.” In light of this recent classification by the SEC, the Cardano Foundation has come forward to contest the regulator’s claims. In a tweet on its official page, the foundation expressed its disagreement with this classification and said it looked forward to working with regulators. “The Cardano Foundation disagrees with the recent qualification of ADA as a security under US law. We look forward to the continued engagement with regulators and policymakers to achieve legal clarity and certainty on these matters,” the Foundation said. ADA price falls to $0.33 | Source: ADAUSD on TradingView.com ADA Continues To Struggle Despite the Cardano Foundation taking to Twitter to debunk the SEC’s claims of ADA being a security, the coin has not fared well in the market. While the general market is on a recovery trend with Bitcoin moving back above $26,000, ADA has remained stagnant. Out of the top 10 largest cryptocurrencies by market cap, ADA is currently the worst performer of the bunch. Where Bitcoin and Ethereum are seeing an upside of around 3% at this time, Cardano’s token is nursing 3.6% losses. Its performance is even worse on the weekly chart with 9% losses in seven days. Related Reading: Galaxy Digital CEO Mike Novogratz Says This Will Kickstart The Bitcoin Bull Market ADA’s performance is not out of the ordinary as such a classification has put selling pressure on the digital asset. Investors are understandably moving to remove some of their holdings for fear of further legal action from the SEC. However, there has been no indication of what the regulator plans to do against the digital assets it classified as securities. At the time of writing, ADA is changing hands at a price of $0.3406, bringing its total market cap to $11.89 billion. Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet… Featured image from iStock, chart from TradingView.com

Cardano (ADA) Declines As Market Recovers Amid Security Charges

The agency has focused on Proof-of-Stake coins, leaving Bitcoin and other Proof-of-Work blockchains unfazed by the current regulatory push.

The SEC Has Not Labeled Any Proof-of-Work Asset as a Security—Why Is That?

CZ must respond to a summons within 21 days regarding the SEC’s lawsuit against his firm.

Binance CEO Summoned By U.S. District Court

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CBDC = Government controlling your money!

Bitcoin (BTC) bounced back after tumbling to a three-month low of less than $25,000 on Tuesday following news that Coinbase (COIN) had been sued by the SEC on allegations of violating federal securities law. This followed a similar suit against Binance on Monday. Arca Chief Investment Officer Jeff Dorman weighs in. Plus, Solidus Labs Vice President of Regulatory Affairs Kathy Kraninger discusses how regulatory action is impacting consumers. And, CoinDesk Managing Editor Nikhilesh De breaks down the latest developments as SEC seeks a temporary restraining order to freeze assets tied to Binance.US on Tuesday.

Crypto Markets Bounce Back After SEC Action Against Coinbase, Binance

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Banks have lost trust through government actions

The U.S. Securities and Exchange Commission (SEC) asked a court to grant a temporary restraining order to freeze assets tied to Binance.US. CoinDesk Managing Editor of Global Policy and Regulation Nikhilesh De breaks down the latest developments.

SEC Seeks Temporary Restraining Order to Freeze Binance.US Assets

Gary Gensler and the SEC want to freeze Binance US assets, Robinhood to delist cryptocurrencies, DEX volume spikes 444% and Cardano responds to the SEC calling them a security! 

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