The only cryptocurrency ever approved by the SEC has exploded after the recent chaos.
The altcoin market has drastically depreciated after the SEC sided with Coinbase and Binance. Bitcoin (BTC), which slackened from $ 27,450 to $ 25,300, created an atmosphere of panic in the crypto industry. The reflection of the decrease in BTC to altcoins took place at greater rates. While many altcoins have seen decreases of close to 20 percent, the only cryptocurrency approved by the SEC has gained 30 percent in the last two days. Despite such retreats in the market, the crypto money, which has exploded, is not falling off the tongue of investors now.
It Up 30 Percent While Everyone Falls: Stacks (STX)
Blockstack’s (STX) token, Stacks (STX), became the first and only cryptocurrency to receive approval for a digital token offering from the US Securities and Exchange Commission (SEC) in 2019. As a result, STX was able to raise $23 million in investment funds under the SEC’s Regulation A+ regulation.
The SEC, which has sued many cryptocurrency exchanges, has caused dozens of coins to be crazy in Binance US as of yesterday. STX, the first and only cryptocurrency that managed to get approval from the SEC, took advantage of the chaos and priced it upwards. STX has risen 30 percent in the last 24 hours and 12 percent in the last 24 hours. It was also the highest-growing cryptocurrency of the day.
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