According to a post on social media by crypto analyst Miles Deutscher, Robinhood’s delisting of ADA, MATIC, and SOL may put huge selling pressure on altcoins.
At present, the value of 14 altcoins held by Robinhood users is about 1.3 billion U.S. dollars (excluding BTC, ETH and DOGE), of which ADA, MATIC and SOL are worth about 583 million U.S. dollars.
These users need to force sell before June 27, and most Robinhood traders hold fiat currencies in their brokerage accounts, not stable coins, so it is likely to have an impact on market liquidity.