The drop rate in Pepe (PEPE), one of the altcoins that lost value at the start of the SEC-Binance crisis, drew attention.
Making a statement yesterday evening, the SEC sued Binance and CZ for violating the US Securities Act. With this news that shook the market, altcoins rapidly lost value. While many altcoins were testing critical support levels, Pepe (PEPE) stood out among these altcoins. PEPE, which has lost nearly 20% in value in the last 24 hours, became the most falling coin of the day.
Serious Drops Seen in Altcoins
BTC easing to a significant support level has caused concern in the altcoin market. Almost all altcoins reached critical values in the big time frame. BTC, which received an upside reaction from $ 25,300, relieved altcoins a little. However, sales-weighted transactions in the market are more dominant.
Stablecoins, Kava (KAVA) and Nexo (NEXO), were the green coins of the day. BTC, which painted the altcoin market red, led to the collapse of Metaverse coins in particular. Metaverse coins, which increased rapidly with the excitement of Apple, were greatly affected by this decrease of BTC.
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