ADA Takes Center Stage in SEC Lawsuit, XRP and ETH Absent
The U.S. Securities and Exchange Commission’s (SEC) next target in the crypto space has been a hot topic of discussion on social media platforms again recently. StakeWithPride, a Cardano enthusiast, shared in an X post this morning that Cardano (ADA) is mentioned 60+ times in the SEC’s lawsuit against crypto exchange Kraken.
Cardano and $ADA mentioned 60+ times in SEC Kraken lawsuit.
Ask My Anything aka AMA also mentioned. #Cardano pic.twitter.com/OtznBBl8eT
— St₳kΣ with Pride 🌈 (@StakeWithPride) November 20, 2023
The SEC topic came up in a separate X post from the Thinking Crypto Podcast founder, Tony Edward. According to his post, Ripple (XRP) and Ethereum (ETH) are two cryptocurrencies that were not mentioned at all in the SEC’s lawsuit against Kraken.
However, there was a long list of other well-known tokens mentioned. These coins include ADA, Axie Infinity (AXS), Algorand (ALGO), Cosmos (ATOM), Chiliz (CHZ), COTI, Dash (DASH), Filecoin (FIL), Flow (FLOW), Internet Computer (ICP), Decentraland (MANA), Polygon (MATIC), NEAR Protocol (NEAR), OMG Network (OMG), The Sandbox (SAND), and Solana (SOL).
The list of crypto assets mentioned as securities in the SEC lawsuit against Kraken does not include $XRP and $ETH. 👀 pic.twitter.com/dQ9AthvaP3
— Tony Edward (Thinking Crypto Podcast) (@ThinkingCrypto1) November 21, 2023
The fact that ADA was one of the most mentioned cryptocurrencies in the SEC lawsuit against Kraken could be behind the token’s 0.97% price dip over the last day of trading. The altcoin was trading hands at $0.384 at press time after setting a 24-hour low price of $0.3791.
ADA’s intraday volume did, however, jump by over 36% to bring the total up to $405,253,987. On the other hand, the Ethereum-killer’s weekly performance was still firmly set in the green zone at +4.14%.
ADA / Tether US 1D (Source: TradingView)
SOL and NEAR also both suffered price losses of more than 6% over the past 24 hours. As a result, SOL was worth about $55.71, while NEAR’s trading value dropped to $1.92. Nevertheless, both tokens’ prices remained up on their weekly time frames.
SOL recorded a slight 0.81% uptick in its price in the past week. NEAR’s recent price success was still evident in the fact that its price was up more than 18% in the past seven days.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.