Global Crypto market cap is above $1.1 Trillion despite SEC crackdown on top exchanges
According to Security Exchange commission, USA these exchanges have broken many laws. Beside imposing lawsuit against Binance and Coinbase, SEC, 67 crypto currencies are under radar of SEC, USA due to violation of laws and various litigation.
Crypto currencies which are under radar and accused of security are top notch crypto currencies, like BNB, BUSD, Solana, Cardano, Ripple, AXS, Near, ICO, Sand, Matic, Atom, Mana etc.
Crypto currencies are under immense pressure due to legal action against Binance and Coinbase. Despite all the odds, crypto global market cap some how managed to accumulate more than $1.1 Trillion. This is a good sign for crypto.
Crypto is a biggest threat for conventional banks which are collapsing on regular basis. SEC, USA want to promote only stable coin digital currencies and they are hitting hard against other crypto currencies.
Binance forced stop on USA market will deep down the FUD and we may observe a big dip in market. Binance may touch the $20,000 worth and BNB may touch around $180. We need to show patience as the time will be passed aways.
Being a crypto enthusiast we are not against the SEC, USA action issues, but it should be done in decent manner. We need a better regulation and strict. Otherwise, SEC, USA will badly hit the crypto market.
Exchanges like Kucoin and Bybit may take advantage due to FUD of Binance and coin base. Binance is a big gaint and hopefully it will survive. Time to hold your asset tightly if you are the long term investment. Remember this is not the first time crypto market observed such pressure, market also observed pressure in the past and the good thing is that market bounced back. Hopefully it will be bounced back again.
Despite all the odds, crypto currencies are gaining popularity and more adoption which is challenging for the fiat. Crypto has great future if we have better regulation and strict laws. What is your opinion my friends?
This is it for my today post. Wish you all a very happy, healthy and prosperous life ahead.