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TL;DR
After the SEC listed a handful of prime 100 crypto tokens as ‘unregistered securities’ (suppose: illegally traded shares) earlier this month, these in query have taken successful:
Filecoin -2% Algorand -2% Cosmos -5% Cardano -17% Polygon -21% Binance BNB -21% Solana -22%
The excellent news? The optimistic ahead motion Bitcoin has remodeled the previous few weeks has additionally overflowed into the remainder of the market, softening these losses.
Ethical of the story: we’re a bit banged up, however we’ll be okay.
Full Story
Righto – time for a excellent news/dangerous information recap!
Let’s rip the bandaid off and begin with the dangerous information:
After the SEC listed a handful of prime 100 crypto tokens as ‘unregistered securities’ (suppose: illegally traded shares) earlier this month, these in query have taken successful:
Filecoin -2%
Algorand -2%
Cosmos -5%
Cardano -17%
Polygon -21%
Binance BNB -21%
Solana -22%
In cumulative whole, there was ~$5B value of worth wiped from the tokens named within the SEC’s lawsuit, so far.
The excellent news?
You realize the entire optimistic ahead motion Bitcoin has remodeled the previous few weeks, thanks to those spot ETF rumors?
Properly, within the crypto area, Bitcoin is type of just like the rising tide that raises all ships/cash.
I.e. if cash flows in to Bitcoin, it usually results in cash flowing in to the remainder of the area.
Which has softened a few of the losses skilled by the tokens on the SEC’s sh*t record.
Ethical of the story:
We’re a bit banged up, however we’ll be okay.
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