How did the SEC lawsuit against Binance and Coinbase affect cryptocurrency prices? After the #SEC lawsuits were announced, the prices of cryptocurrencies listed as securities fell at different rates. Here’s a look at some notable examples: (1) Sandbox (#SAND) suffered the largest decline among listed assets, falling -11.4% on June 6th. This downtrend continued, and by June 12, #SAND had dropped significantly -35.0%. Specifically, #SAND was named in both lawsuits as it is available for trading on both #Binance and #Coinbase. This dual engagement likely contributed to the sell-off and subsequent price drop in #SAND. (2) Binance Coin (#BNB), the fourth largest cryptocurrency, was down -9.4% immediately after the lawsuit was announced. By June 12, the price of #BNB had fallen by -23.0%. The price of #BNB fell from $305.57 to $235.20 during this period. (3) Cardano Foundation (#ADA), currently the 8th largest token by market cap, also suffered significant losses. On June 6th it fell -7.0% and by June 12th the value of $ADA was down -27.9% from $0.38 to $0.27. Read the full study: gcko.io/zlgtre5 #cryptocurrency #crypto #cryptomarket
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