– The US Securities & Exchange Commission initiated a crackdown on 67 crypto assets worth $100 billion in market capitalization.
– Crypto market capitalization has declined 8.3% over the past seven days, sustaining above $1 trillion at the time of writing.
– Experts have compiled a list of cryptocurrencies that are likely to yield gains for holders in the next crypto bull run.
The US financial regulator’s crackdown on
cryptocurrencies wiped out over $100 billion in crypto market capitalization.The Securities & Exchange Commission (SEC) labeled 67 crypto assets as securities, increasing the selling pressure on these cryptocurrencies.
Experts have identified five cryptocurrencies that traders are accumulating for gains in the next bull run.
Also read:
Bitcoin hodlers accumulate $960.4 million in BTC a month during the crypto bloodbath
US SEC labels 67 cryptocurrencies as securities
The SEC listed 10 cryptocurrencies as securities in its lawsuit against Binance and 13 in its allegations against Coinbase.The US financial regulator added more assets to the list of securities in its case against the two
cryptocurrency exchanges, driving the total to 67 cryptos with a combined market capitalization of $100 billion.
Nearly 10% of the overall crypto market capitalization is struggling with crumbling selling pressure in response to the SEC’s clampdown.
The following is a list of
https://www.fxstreet.com/cryptocurrencies/news/top-3-altcoins-bleed-in-double-digits-as-bitcoin-dominance-rises-matic-cardano-and-solana-202306101005 that the SEC has labeled as securities:
XRP (XRP), Telegram’s Gram (TON), LBRY Credits (LBC), OmiseGo (OMG), DASH (DASH), Algorand (ALGO), Naga (NGC), Monolith (TKN), IHT Real Estate (IHT), Power Ledger (POWR), Kromatica (KROM), DFX Finance (DFX), Amp (AMP), Rally (RLY), Rari Governance Token (RGT), DerivaDAO (DDX), XYO Network (XYO), Liechtenstein Cryptoasset Exchange (LCX), Kin (KIN), Salt Lending (SALT), Beaxy Token (BXY), DragonChain (DRGN), Tron (TRX), BitTorrent (BTT), Terra USD (UST), Luna (LUNA), Mirror Protocol (MIR), Mango (MNGO), Ducat (DUCAT), Locke (LOCKE), EthereumMax (EMAX), Hydro (HYDRO), BitConnect (BCC), Meta 1 Coin (META1), Filecoin (FIL), BNB (BNB), Binance USD (BUSD), Solana (SOL), Cardano (ADA), Polygon (MATIC), Cosmos (ATOM), The Sandbox (SAND), Decentraland (MANA), Axie Infinity (AXS), COTI (COTI), Paragon (PRG), AirToken (AIR), Chiliz (CHZ), Flow (FLOW) Internet Computer (ICP), Near (NEAR), Voyager Token (VGX) and Nexo (NEXO), Mirrored Apple Inc.(mAAPL), Mirrored Amazon.com, Inc.
(mAMZN), Mirrored Alibaba Group Holding Limited (mBABA), Mirrored Alphabet Inc.(mGOOGL), Mirrored Microsoft Corporation (mMSFT), Mirrored Netflix, Inc.
(mNFLX), Mirrored Tesla, Inc.(mTSLA), Mirrored Twitter Inc.(mTWTR), Mirrored iShares Gold Trust (mIAU), Mirrored Invesco QQQ Trust (mQQQ), Mirrored iShares
Silver Trust (mSLV), Mirrored United States Oil Fund, LP (mUSO), Mirrored ProShares VIX Short-Term Futures ETF (mVIXY).Crypto market capitalization declined from $1.198 trillion to $1.098 trillion between June 4 and the time of writing.
Crypto market capitalization
Experts have identified the following assets for the next bull run.
Top 5 cryptocurrencies for the next bull run
Crypto expert (@0xFinish on Twitter) identified these five cryptocurrencies for traders to accumulate during the bloodbath.According to the expert, these assets have the potential to yield gains in the next bull run and traders can scoop them up at a discount during the ongoing bloodbath.
– Arbitrum (ARB)
– Frax Share (FXS)
– Curve DAO (CRV)
– GMX (GMX)
– Chainlink (LINK)
Arbitrum is a Layer 2 scaling solution developed by Off-chain labs and the project has captured a large volume of market share.The total value of assets locked on Arbitrum is upwards of $2.1 billion, based on data from DeFiLlama.
The protocol’s ARB token is trading at $1 at the time of writing, 88.41% below its all-time high of $8.67.
Frax Share is a utility token that traders stake for the governance of stablecoins and infrastructure protocols in the Frax ecosystem.FXS price declined 25% over the past week, offering traders an opportunity to scoop up the token nearly 90% below its all-time high of $42.80.At the time of writing, FXS price is $4.88.
Curve DAO’s CRV token is a DeFi utility token of an automated market marker.The protocol aids the exchange of different ERC-20 tokens and supports token swaps.At the time of writing, CRV price is $0.672, up 4.3% since Saturday.
GMX is a governance token for the decentralized exchange GMX, a perpetual exchange on the Arbitrum Layer 2 network.GMX price is $45.15, up nearly 2% overnight.
The token is 50.41% below its all-time high of $91.07.
Chainlink’s token LINK represents the decentralized oracle platform.LINK is exchanging hands at $5.17, after posting 2.4% gains since Saturday, despite the marketwide crypto bloodbath.
Information on these pages contains forward-looking statements that involve risks and uncertainties.Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
You should do your own thorough research before making any investment decisions.FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements.It also does not guarantee that this information is of a timely nature.Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress.
All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned.The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations.The author makes no representations as to the accuracy, completeness, or suitability of this information.
FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use.Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Join Telegram
Follow us on Telegram
Stay updated of all the news
Recommended Content
Editors’ Picks
This is why a mere 15% rally in Lido DAO price could be a game-changer for LDO holders
Lido DAO price is following the rest of the market due to the regulatory events that transpired in the last few days.
However, the DeFi token is generally unlikely to pursue the path set by any other cryptocurrencies, including the likes of Bitcoin.This might play in favor of LDO.
More Lido News
LINK holders opt to sell as Chainlink price falls by 9% in a week, new investors on the rise
Chainlink price, after following the broader market cues, is nearing a key support level that was last visited by the coin in January this year.This has discouraged LINK holders to the point where selling has become a preferred option.However, newer investors are countering this selling by accumulating, preventing a severe decline.
More Chainlink News
Optimism price could rally 50% as network upgrade inspires new wave of OP adoption
Optimism (OP) price appears to have found support after a new buyer congestion zone came into effect to prevent the free fall.
Accordingly, the Ethereum Layer 2 (L2) token is trading horizontally, giving bulls time to accumulate OP at affordable rates.
More Optimism News
Binance CEO addresses chat records disclosed by the SEC
Binance CEO Changpeng Zhao has issued an internal address to company staff, asking them to focus on work and developing products people can use.The internal memo comes after the United States Securities and Exchange Commission (SEC) disclosed chat records between Binance employees in an attempt to support its case against the largest crypto exchange by trading volume.
More Cryptocurrencies News
Top 3 cryptocurrencies that outperformed Bitcoin, Ethereum this week
The US Securities and Exchange Commission’s (SEC) crackdown on cryptocurrencies triggered a correction in the prices of Bitcoin, Ethereum and several altcoins with large market capitalization.
Read full analysis.
