What changes have occurred in popular cryptocurrencies, which the SEC has described as securities so far?
BinanceAnd to Coinbaseadding new cryptocurrencies to the securities list in lawsuits filed SEC What kind of changes did these projects lead to? Ripple ( XRP), Solana ( LEFT), Cardano ( ISLAND), polygon ( MATIC) and Chiliz ( CHZ) in terms of recent developments and price movements.
Ripple (XRP) Shaken But Not Broken!
SECPerhaps the most open to Ripple ( XRP ), continues to amaze. While the SEC-Ripple case has been ongoing for nearly two years, developments in the case in recent weeks have been shaping the crypto ecosystem. The progress of the case in favor of Ripple has been one of the elements that kept XRP afloat.
Recently coinbaseAnd to Binance The SEC, which shook the industry by filing a lawsuit, led to great decreases in altcoins. While most altcoins have lost more than 20 percent, Ripple ( XRP ) dropped 12 percent only momentarily. XRP, which performed almost half in a positive sense, increased by 10 percent in two days and came to $ 0.5185.
Ripple’s ( XRP ) being the strongest standing coin in such a big crash shows that XRP investors are not literally turning to selling. Also Bitcoin ( BTC) and Ethereum ( ETH) continues to make XRP technically and fundamentally positive.
Solana (SOL) Drops Below $13 After Months
In the SEC’s lawsuit against Coinbase, Solana’s ( LEFT ) has dealt the biggest blow to the Solana ecosystem in recent times. Finally, Solana (SOL), which was traded below $13 on January 7, pinned $12.73 with the SEC’s radar and the collapse in altcoins.
Hanging from $ 19.25 to $ 12.73, SOL lost 33.85% of its value within hours. The popular name of major coins came to prices in early 2023, facing selling pressure from the SEC. However, with the slowing of the news flow and the upward acceleration of Bitcoin (BTC), SOL recovered by 20 percent from the point it tested and came to $ 15.21.
Loss in Cardano (ADA) Passed 30 Percent, But Rebounded Fast
In Cardano (ADA), which instantly tested $ 0.22 from $ 0.32, the instantaneous decrease was 32.24 percent. ADA, which is generally known for its stable movements, has created a volatile price structure this time. ADA, one of the fastest recovering projects in the altcoin market, increased from $ 0.22 to $ 0.28, experiencing an increase of 26.80 percent.
Although heavy sales were seen in ADA, which is described as a security in the new report of the SEC, the stagnation of the fud news and the appreciation of BTC, albeit a little, carried ADA up quickly. Cardano CEO in the first quarter of 2023 by Charles Hoskinsonshining through his speeches ISLANDWith the latest developments, it has started to be followed closely by most crypto communities.
Polygon (MATIC) Blacklisted Most Damaged
Polygon (which has been in a downtrend for weeks) MATIC ), dropped 26 percent momentarily after it was added to the SEC’s securities list. The popular coin, which slackened up to $0.50, hit the lowest level in the last 11 months, creating an atmosphere of panic in the Polygon ecosystem. Moreover of Robinhood The fact that one of its altcoin sales was MATIC, fueled the fire. The last one at these prices in July 2022 MATIC, lagged behind almost the entire altcoin market.
After it was added to the securities list, the response from Polygon was not delayed. polygon labs , stated that MATIC is a part of Polygon technology and that the network serves securely and will continue to do so in the future. Also, Polygon Blockchain’s development and growth team states that MATIC has been adopted by a large user base and its activities do not include the USA.
SEC Barrier to Football Industry: 30 Percent Loss in Chiliz (CHZ)
The Champions League finalists are Manchester City and Inter, ChilizAnd socios It had created a vitality. The fact that both teams have fan tokens has brought the football industry to the fore and increased the interest in fan tokens. However, when this process coincided with the repressive attitude of the SEC, the enthusiasm in fan tokens gave way to sadness.
In the lawsuit report filed against Coinbase, Chiliz’s ( CHZ ) lowered the level of trust in fan tokens. Investors continue to emerge from fan tokens that have been devaluing and pricing for a long time. CHZ, which lost 32 percent of its value, came to $ 0.067 with a reaction from $ 0.058. When the SEC moved to the increasing interest with the approach of the Champions League final, many investors began to voice their criticisms of Chiliz on social media.
