Cryptocurrency

<ul><li><strong>Cryptocurrency market experiences turbulence following SEC action against Binance.</strong></li><li><strong>Bitcoin and Ethereum prices decline, impacting overall market sentiment.</strong></li><li><strong>Stablecoins maintain stability amid market volatility, playing a crucial role.</strong></li></ul><p>The global cryptocurrency market has been significantly jolted, including digital currencies such as Bitcoin (BTC) and Polygon (MATIC). This disturbance is mainly due to the recent measures undertaken by the U.S. Securities and Exchange Commission (SEC) against Binance, a leading cryptocurrency exchange.</p><h3 id="market-instability-and-dipping-prices">Market Instability and Dipping Prices</h3><p>Bitcoin, the leading cryptocurrency and a household name in the digital currency world, has experienced a significant price drop, landing at $25,750.49. This decrease from previous highs leads to an <a href="https://thenewscrypto.com/tether-joins-volcano-energy-to-build-worlds-largest-bitcoin-mining-farm/" rel="noopener noreferrer nofollow">approximate</a> market capitalization of about $499 billion.</p><p>Following suit, Ethereum (ETH), the runner-up in terms of market capitalization, also experienced a fall in its price to $1,815.36, resulting in a total market cap of nearly $218 billion. Despite this dip, Ethereum remains integral to many blockchain initiatives, securing its significant standing in the market.</p><p>Moreover, the regulatory actions have had a <a href="https://thenewscrypto.com/binance-ceo-cz-breaks-silence-on-u-s-secs-lawsuit-action/" rel="noopener noreferrer nofollow">prominent</a> effect on Binance’s native token, BNB. The current price of BNB stands at $278.47 after experiencing considerable price volatility over the past week. The total market cap of BNB is around $43 billion.</p><h3 id="stablecoins-prove-their-worth-in-turbulent-times">Stablecoins Prove Their Worth in Turbulent Times</h3><p>In contrast to the general downward trend in the market, stablecoins like Tether (USDT) and USD Coin (USDC) held their ground. Each token continued to be valued at approximately $1.00, proving its resilience.<br /><br />Continue To Read <a href="https://thenewscrypto.com/crypto-market-plunges-as-sec-targets-binance/" rel="noopener noreferrer nofollow">&#64;TheNewsCrypto</a></p>

Crypto Market Plunges as SEC Targets Binance

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