The crypto market is a wild industry. The lack of proper crypto regulations is one of the main reasons why the digital asset space is in such turmoil. However, investors are highly against market regulations. There are good reasons for that too. They are attracted to cryptocurrencies like SHIB because of the privacy that decentralized structures offer. However, the growing interest in altcoin assets is also triggering various crimes in the financial and economic markets. This highlights the need for regulation.
G20 crypto regulation may affect SHIB and these 8 altcoins
That’s why organizations like the G20 and the EU are trying to make regulations to minimize crime in the area. These organizations are currently planning to formulate a crypto regulatory framework. G20 crypto regulations will definitely affect the dominance of several top cryptocurrencies. Experts expect this to affect large assets the most. In this article, as Kriptokoin.com, we have compiled 10 altcoins that are expected to be affected due to the G20 regulation.
Terra Classic (LUNC)
Terra Classic is highly likely to be affected by emerging crypto regulations. Its predecessor, Terra (LUNA), triggered the collapse of the entire crypto market in May. Because of this, investors are still struggling to put their money into the project. Also, Do Kwon, the founder of Terra Classic, is currently facing multiple charges. Even Interpol has issued a red notice for Kwon. If crypto regulations tighten, it’s possible for investors to sell their LUNC tokens first.
Bitcoin (BTC)
Bitcoin is the largest cryptocurrency in the market. This cryptocurrency has managed to gain the trust of thousands of investors over the years. In fact, it has also experienced a few ups and downs over the years. But 2022 looks to be the worst. Bitcoin was launched with the aim of enabling digital payments in several areas. But it also became an asset used to make some illegal payments. Therefore, it is likely to be affected by regulations.
Ethereum (ETH)
Ethereum is the largest altcoin asset in the market. This Blockchain network recently launched an upgrade called Merge. But this upgrade hasn’t helped the dire state of cryptocurrencies at all. Instead, it made all other cryptocurrencies more volatile. It has witnessed massive mainstream adoption to both Bitcoin and Ethereum. Still, the G20 regulations will definitely hurt the new version of ETH.
Shiba Inu (SHIB)
Shiba Inu is the second largest meme coin asset in the crypto market. The SHIB project’s recent entry into the Metaverse space has been one of the biggest triggers to attract investors. Cryptocurrency was among the top performing cryptocurrencies in 2021. It was also among the top assets that Ethereum whales bought in bulk. However, since the Shiba Inu is a meme coin, it is extremely volatile. Investors generally do not see the SHIB token as a long-term investment. Therefore, it seems that it will be adversely affected by the regulations.
Dogecoin (DOGE)
Very similar to the SHIB token, Dogecoin is also a meme coin that should be considered a long-term investment. However, the altcoin is gaining momentum among investors due to Elon Musk’s interest in developing Dogecoin. If regulations are triggered, Elon will be obligated to abide by the regulations. This may lead him to express his DOGE love less.
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Solana has a completely decentralized structure. This makes it a volatile altcoin asset. Despite this volatility, SOL provides much-needed privacy with its decentralization. However, Solana’s dominance is steadily falling due to problematic network outages. It is possible for SOL to suffer from the regulations because of these cuts.
ApeCoin (APE)
ApeCoin is a relatively new cryptocurrency. Consider the current state of the crypto market. Then add crypto edits to it. It is clear that investors would prefer to stay away from cryptocurrencies like APE in this scenario. However, ApeCoin is an altcoin focused on NFT and Metaverse. The number of scams in the NFT market is increasing day by day. This drives investors away from the APE token.
Decentraland (MANA)
Decentraland is a decentralized, immersive Metaverse platform built on Ethereum. Its network mainly combines exciting features such as entertainment, gaming and E-commerce. Thus, it persuades individuals and businesses to invest. That’s why the MANA token has been getting a lot of attention lately. The future of Decentraland is bright and inviting. However, its future prospects still remain uncertain.
Ripple (XPR)
XRP remained among the top 10 cryptocurrencies for quite some time, despite its lawsuit with the SEC. The token is used to transfer assets on the Ripple network. It also allows making profits by trading on crypto exchanges. With XRP, Ripple aims to attract more users to the crypto market during the accepted globalization. However, since it has managed to stay at the top for such a long time, it seems that it will definitely be affected by the regulations.
Stellar (XLM)
Stellar is another altcoin that is likely to lose its dominance over the crypto market soon. It turned out to be an open network for storing and moving money. It enables people to create, send and trade digital currencies. It also allows to sell and trade digital currencies. XLM is at risk of being harmed after the integration of crypto regulations.
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