• The US Securities and Exchange Commission has charged Binance and Coinbase with various violations.
• BNB has dropped to a 6-month low, but the rest of the crypto sector is resilient.
• AltSignals ($ASI) could benefit from a post-SEC market resurgence.
Binance and Coinbase Charged with Violations
The US Securities and Exchange Commission (SEC) has charged Binance and Coinbase with various violations, including offering unregistered security tokens in the case of Binance, and operating an unregistered securities exchange for Coinbase.
BNB Hits a 6-Month Low
Binance Coin (BNB) traded at $261 on June 8th as a result of these charges, its lowest level since January 23rd – implying a nearly 6-month low. Despite this significant price drop, the rest of the crypto sector looks relatively resilient, with Bitcoin trading at $26,400, Ethereum at $1,840 and XRP at $0.51. DeFi activity across platforms also remains steady with total value locked around $45.43 billion.
Potential Market Resurgence
It is unclear when the case between Binance and SEC will come to an end but should it be resolved positively then demand for digital assets could increase significantly as investors‘ sentiment remain positive despite current events. AltSignals ($ASI), which is currently on presale, could benefit from this development if it occurs in future markets.
AltSignals have potential as crypto traders look to take advantage of potential market conditions when token lists on exchanges due to presale demand that may fuel price increase once they list on exchanges.
Though the exact outcome of SEC’s lawsuit against Binance and Coinbase remains unknown, it’s clear that there are still opportunities present in crypto markets that can be taken advantage of by those looking for good investments with potential upside rewards should the situation be cleared up in future markets