We have some remarkable news for altcoin hunters. Recent regulatory actions have brought about a significant shift in the industry. Numerous projects have faced the announcement of their tokens as security tokens. This classification has had profound implications for the associated projects and the cryptocurrency ecosystem. Well, which altcoins have the opportunity to take the bottom after the fall. Let’s look at the details.
Cryptocurrencies that altcoin hunters will buy from the bottom
In the first place is the altcoin SAND. Accordingly, SAND is the native utility token of The Sandbox, a decentralized virtual world where players can create, own and monetize their gaming experiences. SAND is used for various purposes. These include buying virtual land, obtaining in-game assets. It also includes participating in governance decisions. It plays a crucial role in enabling the virtual economy and promoting user engagement. The price of SAND has dropped 36.8% in the last 7 days as a result of the SEC’s listing of securities. On the other hand, there is MANA in second place. MANA is the cryptocurrency of Decentraland, a virtual reality platform built on Ethereum. MANA serves as the in-game currency within the Decentraland metaverse. It also allows users to buy and sell virtual land, assets and services. The price of MANA, which is listed on the SEC’s securities list, has dropped 34% in the past seven days.
In third place is AXS (Axie Infinity). Altcoin AXS is the utility token of the Axie Infinity ecosystem, a blockchain-based game built on the Ethereum network. AXS is used for purposes such as participating in the game, producing digital pets called Axies. It is also used for a variety of purposes, such as bartering and participating in governance decisions. AXS, the ecosystem’s primary token, facilitates economic activity, community engagement and governance in Axie Infinity. The price of AXS has dropped 34% in the last 7 days as a result of the SEC’s listing of securities.
In fourth place is CHZ (Chiliz). CHZ is the native token of the Chiliz blockchain platform focused on fan engagement and monetization for the sports and entertainment industries. Thus, CHZ allows users to purchase fan tokens that represent voting rights and have access to exclusive rewards, experiences and content related to specific sports teams. CHZ plays an important role in driving fan engagement, improving fan experiences and generating new revenue streams for sports and entertainment organisations. The price of CHZ fell 33.1% as a result of the SEC’s listing of securities.
Other cryptocurrencies
In fifth place is altcoin FLOW. FLOW is the native cryptocurrency of the Flow blockchain. It was specifically designed to support decentralized applications (DApps) in the digital collectibles and gaming space. Flow aims to provide a scalable and developer-friendly infrastructure for blockchain-based applications. Hence, FLOW tokens are used for various purposes within the Flow ecosystem, such as transaction fees, staking, and participation in governance decisions. The importance of Flow lies in its ability to drive innovation, provide seamless user experiences, and provide a platform for creators and developers to build and monetize their apps. Over the past 7 days, the price of FLOW has dropped 31.6% as a result of the SEC’s listing of securities.
Sixth place is SOL (Solana). Accordingly, SOL is the native token of the Solana blockchain. Solana aims to provide a high-performance and scalable infrastructure for decentralized applications (DApps) and decentralized finance (DeFi) projects. Therefore, SOL tokens are used to pay transaction fees within the Solana ecosystem. It is also used for various purposes such as participating in network consensus and accessing decentralized applications and services. Solana stands out with its high transaction speeds and low fees. On the other hand, this situation positions SOL as an important token in the ecosystem. In the past 7 days, SOL’s price has dropped 28.3% as a result of the SEC’s listing of securities.
MATIC and FIL
In seventh place is the altcoin MATIC (Polygon). MATIC is the native token of the Polygon network, formerly known as the Matic Network. Polygon is a Layer 2 scaling solution for Ethereum that offers faster and cheaper transactions. MATIC tokens play an important role in securing the Polygon network. It is also important in participating in governance decisions and paying transaction fees. When the scalability features of Polygon are combined with the benefit of MATIC, there is an important result. Accordingly, it adds to its importance in the Ethereum ecosystem and the wider blockchain space. Over the past 7 days, the price of MATIC has dropped 27.7% as a result of the SEC’s move.
In eighth place is the altcoin FIL (Filecoin). FIL enables individuals and organizations to lease unused storage space. It also allows them to earn FIL tokens in return. FIL tokens are used to purchase storage space. On the other hand, it is also used for various purposes such as participating in network consensus and encouraging network participants. The price of the FIL has dropped 25.1% in the last 7 days as a result of the SEC’s listing of securities.
Altcoins NEAR and BNB
NEAR is in ninth place. Altcoin NEAR is the native token of the NEAR Protocol, a blockchain designed for decentralized applications and smart contracts. According to this moment, NEAR tokens serve as the primary utility and governance token within the NEAR ecosystem. In addition, transaction fees are used for staking, participating in governance decisions, and accessing various services and applications built on NEAR. The NEAR Protocol’s focus on usability and scalability adds to the importance of NEAR tokens in the developer and DApp community. In the past 7 days, NEAR’s price has dropped 27.2% as a result of the SEC’s move.
In the tenth and last place is BNB (Binance Coin). BNB is the native token of the Binance ecosystem, which includes the Binance exchange, Binance Chain and Binance Smart Chain. On the other hand, BNB serves many purposes, such as paying trading fees on the Binance exchange. When we look at Kriptokoin.com, it allows users to participate in token sales on Binance Launchpad. It also gives him access to various services and tools in the Binance ecosystem. The price of BNB has dropped 25.9% in the last 7 days as a result of the SEC’s listing on securities.
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