The cryptocurrency market has been thrown into disarray by a series of regulatory developments, leading to considerable volatility for major cryptocurrencies, including Bitcoin and Ethereum. The recent SEC lawsuits against industry giants Binance and Coinbase have further compounded market anxieties, sparking widespread speculation of a systematic effort to destabilize the industry.As a result, Bitcoin and Ethereum have witnessed significant price dips, harking back to the lows experienced in March this year. In response, leading trading app Robinhood recently declared its decision to discontinue support for Cardano, Matic, and Solana, three leading cryptocurrencies by market capitalization. This news has caused a significant drop in Robinhood’s trading volume for cryptocurrencies, translating to $2.1 billion.Trading platform eToro also announced its intent to drop smaller cryptocurrencies, including Algorand, Decentraland, Dash, and Matic, effective July 12. The cumulative market value of these delisted cryptocurrencies is estimated to be $24 billion.Despite these challenges, Bitcoin has shown more resistance compared to other altcoins, aided partly by its February peak. Yet, as the crypto market faces an uncertain week shadowed by SEC legal actions and an upcoming Federal Reserve interest rate decision, its stability remains tentative.The SEC’s regulatory measures against key exchanges have caused significant price dips for Bitcoin and Ethereum, leading traders to readjust their portfolios in response to forthcoming cryptocurrency delistings on major platforms. The SEC’s legal outcomes and the Federal Reserve’s interest rate decision will undoubtedly determine the future direction of the cryptocurrency market.

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Information	Details
Geography	North America
Countries	🇺🇸
Sentiment	neutral
Relevance Score	8
People	None
Companies	Binance, Robinhood, SEC, eToro, Coinbase
Currencies	Ethereum, Polygon, Bitcoin, Solana, Cardano
Securities	None