- This is their total market capitalization
- But the big question is how the lawsuit will affect the price of tokens
- Here’s where analysts reassure investors
The SEC’s lawsuit against Binance has significantly increased the number of cryptocurrencies recognized as securities. Bloomberg analysts estimated it in monetary terms (market capitalization).
The most important in the list is Binance’s BNB. Its market capitalization is $44 billion. Також значну частину складають стейблкоїни BUSD, монета ADA від Cardano, токени SOL $20 Solana SOL -7.11% Market cap $7.9b Vol. 24Н $338.5m Exchange partner
, MATIC $1 Polygon MATIC -5.96% Market cap $7.7b Vol. 24Н $174.7m Exchange partner , FIL $4 Filecoin FIL -7.33% Market cap $1.8b Vol. 24Н $106.5m Exchange partner і ALGO $0 Algorand ALGO -8.38% Market cap $993.2m Vol. 24Н $40.9m Exchange partner . Other tokens that the SEC has previously recognized as securities (e.g., XRP) should also be added to this list.. The total amount of assets is $115 billion.”
Arca CIO Jeff Dorman commented on the situation in an interview with Bloomberg. He believes that the lawsuit will not have a long-term impact on the token rate, as they are freely traded on offshore platforms.
However, we can see a short-term decline. Токен BNB $278 BNB BNB -7.68% Market cap $43.2b Vol. 24H $616.2m Exchange partner
became the biggest loser for the day. It fell by more than 10%.. Монети Solana за 24 години впали на 9,52%, ADA $0 Cardano ADA -6% Market cap $12.3b Vol. 24Н $144.9m Exchange partner — на 7,73%, а MATIC $1 Polygon MATIC -5.96% Market cap $7.7b Vol. 24H $174.7m Exchange partner – by 7.64%.
The total capitalization of the cryptocurrency market fell by 4.6% to $1.09 trillion. And trading volume increased by 118% to more than $48 billion. People are panicking and withdrawing their assets from Binance and even other crypto exchanges.”
Now, players are waiting with baited breath for a lawsuit against Coinbase. The SEC has previously sent them notices of possible litigation. The crypto exchange said that it will not yet exclude from the listing tokens that the commission considers securities.