- CoinGecko revealed that the tokens enlisted as securities by the SEC have plummeted.
- The tokens including MATIC, SOL, ADA, FIL, and SAND saw massive falls.
- Some tokens excluded from the list also exhibited substantial declines.
The latest analysis stated that the cryptocurrencies that have been enlisted as securities by the Securities and Exchange Commission (SEC) exhibited massive falls in recent hours. According to the data shared by the independent cryptocurrency data aggregator CoinGecko, in the last 24 hours, the tokens including MATIC, SOL, ADA, FIL, and SAND plummeted by 23.5%, 23.1%, 22.9%, 23.2%, and 20.9% respectively.
On Monday, the SEC filed a lawsuit against the leading crypto trading platform Binance, alleging that the exchange and its CEO Changpeng Zhao have been involved in the operations of Binance’s US affiliation, Binance US. The lawsuit cited a few more tokens in the list of unregistered securities, including BNB, Binance USD (BUSD), Solana (SOL), Cardano (ADA), The Sandbox (SAND), Polygon (MATIC), Decentraland (MANA), Cosmos (ATOM), Axie Infinity (AXS) and COTI (COTI).
The Chinese reporter Collin Wu shared insights on the substantial decline in the price of these newly deemed securities on his official Twitter page Wu Blockchain:
As per CoinGecko, MATIC, the token of Polygon, Ethereum’s scaling solution, saw a massive fall of 23.5% in the past 24 hours and an 8.6% decline in the last hour. At the press time, the token stands at a price of $0.600567.
FIL, the native token of the open-source digital payment system Filecoin, exhibited a plummet of around 22% in the past 24 hours, currently reaching a price of $3.15. While the token sank by 36.3% in the last 7 days, over the last hour, the token fell by over 16%.
Similarly, Sandbox’s SAND has also been plummeting over the past seven days, with its price falling by more than 32%. While the token exhibited a decline of around 21% in the last 24 hours, the price currently stands at $0.380163 with a pitch of 11.7% in the past hour.
It is notable that some tokens which were excluded by the SEC from the list of unregistered securities, such as OP, SUI, BSV, and EOS also plummeted substantially, falling by over 11.9%, 4.7%, 15.1%, and 18.5% respectively in the last one hour.
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