After the U.S. Securities and Exchange Commission (SEC) sued cryptocurrency exchanges Binance and Coinbase and classified coins from major blockchain networks such as Solana (SOL), Cardano (ADA) and Polygon (MATIC) as securities, the market has lost blood.
It is possible to say that the crypto market, which lost value with the targeting of the world’s largest crypto exchange Binance in terms of trading volume and Coinbase, another huge crypto exchange listed on the US technology exchange Nasdaq, by the US regulators, showed resistance on the first day of the week. .
Bitcoin’s 25 thousand dollars persisted
Bitcoin, the world’s largest cryptocurrency by market value, had reached the level of $ 27 thousand 240 last Wednesday. Bitcoin, which has lost its value in a few days with the effect of certain events, has been trying to hold on to the 25 thousand dollar band for the last three days despite all these negativities. Bitcoin, which has increased by 0.16% in the last 24 hours, is trading at $ 25,834 at the time of writing this article.
Another major cryptocurrency that maintains a horizontal course just like Bitcoin is Ethereum. Switching from proof-of-work consensus to proof-of-stake last year, Ethereum led to the expectation of upward mobility in the eyes of traders with its recent successful Shanghai update. However, fragile market conditions have also led to blood loss in Ethereum. Ethereum, which changed hands at $ 1,892 until five days ago, has lost 0.87 percent in the last 24 hours and is traded at $ 1,739.
Over 5% depreciation from BNB
Among other large cryptocurrencies in terms of market capitalization, there is a remarkable drop in Binance Coin (BNB), the crypto currency of Binance, which has lost value with the accusations against its CEO Changpeng Zhao (CZ). Alleging that Binance’s staking service violated securities law, the SEC has also opened an investigation that CZ “underhanded” manages the US arm of Binance and that client funds have been transferred to certain companies owned by CZ. All these negative developments accelerate the downward momentum by pulling the $300 price of BNB last week to the $223 band abruptly. BNB, which has decreased by 5.72 percent in the last 24 hours, is currently trading at $ 223.61.
Among the most profitable cryptocurrencies in the last 24 hours, it is seen that cryptocurrencies, which are considered as securities by the SEC and rapidly losing blood, are in the correction phase. Cardano (ADA) gained 6.48% and Polygon (MATIC) gained 4.73 percent.
The crypto currency that has gained the most value since yesterday, with an increase of 19.05 percent, was the badly crypto loan company Voyager Token (VGX), while Adventure Gold (AGLD) with 8.97 percent, Alchemy Pay (ACHP) with 7.57 percent and Rarible (RARI) has achieved an increase of 6.25%.
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