eToro to cease access to ALGO, MANA, DASH, and MATIC for US customers

Israeli multi-asset investment platform eToro announced that its users in the United States will soon be unable to access Algorand (ALGO), Polygon (MATIC), Decentraland (MANA), and Dash (DASH), following a similar move made by Robinhood.

Timeline of Dash, Decentraland, Polygon

Ethereum layer-2 solution provider Polygon has unveiled its vision for version two, a ‘Value Layer' of the internet. The ongoing protocol changes come at a tough time for Polygon, which has just seen its native token flagged as a security by the U.S. SEC.

On June 12, 2023, eToro US announced significant changes to its cryptocurrency offering for US customers in response to the rapidly evolving regulatory landscape. eToro, a social trading and multi-asset brokerage company, is renowned for its platform that enables users to observe, copy, and execute their own trades.

Leading retail trading platform eToro has announced a temporary halt on the purchase of four cryptocurrencies, Algorand (ALGO), Decentraland (MANA), Polygon (MATIC), and Dash (DASH), for its customers in the United States. The decision comes in response to recent lawsuits by the United States Securities and Exchange Commission (SEC) that label these tokens as securities.

The social trading and investment company Etoro declared on Monday that starting July 12, 2023, U.S. customers would be unable to initiate new trades for ALGO, MANA, DASH, and MATIC. The company cited the “rapidly evolving regulatory landscape” as the reason behind the delistings.

Ethereum's Layer-2 scalability platform Polygon recently faced major headwinds as the SEC named its native cryptocurrency MATIC, a security. But looking past that, the Polygon team has recently unveiled Polygon 2.0 to build the Value Layer of the Internet.

Polygon's zkEVM Beta achieves 100K unique wallets, reflecting growing popularity and adoption. The exponential increase in unique wallets showcases Polygon's ability to attract diverse users.

The Total Value Locked (TVL) and transaction volume on Polygon's zkEVM platform has increased significantly, demonstrating extraordinary growth. This increase lays the door for decreased costs and increased use of DeFi technologies.

Polygon Labs, the developer of leading Ethereum Layer 2 scaling solution Polygon, has announced the rollout of Polygon 2.0, a significant upgrade designed to establish the network as the “value layer of the internet.” “Value Layer” Polygon 2.0 substantially builds upon the L2 chain's existing network.

Polygon, the platform builder for Ethereum scaling, recently unveiled their upcoming project known as Polygon 2.0. Polygon Labs and its ecosystem partners have been hinting at this development on Twitter for several days, often emphasizing the number 2.

The recent altcoin crash fueled the ongoing downtrend in MATIC price and plunged to yearly support of $0.518. From the peak of $0.95, this downfall tumbled the price by nearly 45% within a week.