Bakkt is delisting Solana (SOL), Polygon (MATIC), and Cardano (ADA) -- tokens the U.S. SEC recently deemed securities.
Among the major impacts on the crypto space, the delisting of altcoins tightens liquidity for tokens already suffering from the market downturn. Together, MATIC, ADA, and SOL lost nearly $10 billion in market capitalization, according to data from CoinMarketCap.
SOL's market capitalization dropped from $8.78 billion on June 4 to $5.85 billion at the time of writing; ADA's market cap dipped from $13.31 billion to $9 billion, while MATIC's market cap declined from $8.37 billion to $5.32 billion in the same period.Bakkt's delisting follows its acquisition of blockchain technology platform Apex Crypto in April for $55 million in cash and stock.
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