Cardano

Momentum

The post <a rel="noopener noreferrer nofollow" href="https://coinpedia.org/news/crypto-market-outlook-tokens-called-securities-by-sec-gain-momentum/">Crypto Market Outlook: Tokens Called Securities by SEC Gain Momentum</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a> 
Cryptocurrencies that faced legal actions from the U.S. Securities and Exchange Commission (SEC) are displaying a bounce-back as their trading volumes rise. Financial analyst Kyle Doane spoke to Bloomberg about this notable trend. 
Approximately 19 tokens, deemed unregistered securities by the SEC during the legal battle involving Binance and Coinbase Global in June, have witnessed heightened trading activity despite a 20% collective market value loss post-lawsuit. These tokens now contribute to 13% of the total trading volume. 
<h2 id="tokens-thrive-despite-setbacks" data-name="tokens-thrive-despite-setbacks" class="wp-block-heading">Tokens Thrive Despite Setbacks: </h2> 
Despite delistings on platforms like Bakkt, Robinhood Markets, and Bitstamp, these tokens are actively traded on other exchanges. This turnaround has sparked renewed interest, partially due to traders seeking greater price volatility compared to the steadier Bitcoin market. 
The recent volatility stemming from the court ruling on Ripple Labs’s XRP classification has complicated perceptions of these tokens. Traders appear to be using the SEC-labeled tokens as indicators of regulatory clarity within the cryptocurrency realm. 
 Following the initial market turbulence after the SEC lawsuit, several tokens have already rebounded. Notably, SOL, the native token of the Solana blockchain, has regained 11% of its value after initially plummeting by 35%. However, other tokens like ADA, the native token of the Cardano blockchain, remain down by approximately 20% since June 4. 
Interestingly, the appeal of these tokens persists outside the United States, where exchanges continue to offer them. While U.S. exchanges account for just 10% of total crypto trading volume, international giants like Binance and Coinbase have refrained from delisting these tokens, contributing significantly to their ongoing trading activity.

Crypto Market Outlook: Tokens Called Securities by SEC Gain Momentum

Table of Contents

CoinPedia News

Other articles published on Aug 15, 2023

Jailed SBF swaps California mansion for moldy food and raw sewage

XRP’s Historical Upward Price Pattern Repeats, Bull Run Now?

Zimbabwe Introduces Gold-Backed Digital Tokens for Retail Transactions

Splinterlands: Ways to Make Money While Playing the Game

Kraken Ventures Announces $100M Fund to Back Emerging Crypto Startups

Two Catalysts Will Catapult Bitcoin by Up to 410%, Predicts Hedge Fund Veteran Mark Yusko – Here’...

Join our free newsletter for daily crypto updates!