• The US Securities and Exchange Commission has sued Binance and Coinbase, causing a double-digit drop in the price of Binance Coin (BNB).
• Despite this, the crypto sector remains resilient, with Bitcoin, Ethereum, and XRP trading at relatively stable prices.
• AltSignals ($ASI) could benefit from a potential post-SEC market resurgence.
Investigation on Binance Causes Price Drop
The US Securities and Exchange Commission has initiated investigations on major crypto exchange Binance which caused a double-digit drop in the price of its native token BNB. This is the lowest that it has traded since January 23rd.
Crypto Sector Remains Resilient
Despite this significant price drop for BNB, the rest of the crypto sector looks resilient with Bitcoin trading at $26,400, Ethereum at $1,840 and XRP at $0.51. DeFi activity has also remained steady across various platforms as well as total value locked remaining around $45.43 billion indicating positive sentiment among investors.
AltSignals to Benefit from Post-SEC Market Resurgence
It is unclear when the case between SEC and Binance will conclude however a potential clearance of these regulatory hurdles will likely boost demand for digital assets. AltSignals ($ASI) present an opportunity to benefit from this development as they are currently on presale.
FTX Event Triggered Panic Before
The current situation is different compared to the FTX event last November 2022 which triggered panic across the market resulting in lower prices for cryptos across the board.
In conclusion despite some turbulence due to ongoing lawsuits involving exchanges like Binance and Coinbase, crypto markets remain resilient with some tokens like AltSignals potentially benefiting from any post-SEC market resurgence that may occur when cases settle in court