The topic of recent talks in the Cardano community has been the potential big sell-off of the Cardano token, ADA, by well-known platforms like Robinhood and Celsius. Although the platforms’ motivations for their activities vary, the possibility of a sizable dump has alarmed the community.
Different enthusiasts have different opinions on the matter. Some contend that such a sell-off for the Cardano token would not be unusual, referring to unfavourable conjecture as dread, uncertainty, and doubt. Their justification points out that customers have had plenty of opportunity to move their ADA to other wallets and that the combined holdings of Robinhood and Celsius make just a small portion of the ADA trading activity.
These supporters think that the occurrence has already been taken into account by the market and that the unfavourable perception it has is more powerful than real sales.
Others are still perplexed by the circumstance, though. They remind out that all remaining ADA will be sold at market price following Robinhood’s deadline of June 27. Jump Crypto, which oversees cryptocurrency for Robinhood, will have to sell up any remaining assets right away.
Celsius, on the other hand, is more adaptable and is most likely to gradually sell down its ADA holdings over the course of many months. The main issue is how Jump will proceed; alternatives include off-market sales and putting the assets on centralised markets.
In conclusion, the Cardano community is still quite concerned about the likelihood of significant dumps by Celsius and Robinhood. Both believers and sceptics are interested to observe how the issue plays out in the upcoming days due to the conflicting viewpoints around the occurrence that continue to feed conversation.
