Thread by @coingecko

1/ How did the SEC's lawsuit impact the prices of cryptocurrencies?

After the SEC lawsuits were announced, the prices of cryptocurrencies listed as securities fell by varying degrees. Here's a look at some notable examples. 🧵

Read the full study: gcko.io/zlgtre5

2/ $SAND suffered the most severe decline among the listed assets, with a -11.4% drop on June 6.

This downward trend continued, and by June 12, SAND had fallen by a substantial -35.0%.

3/ Notably, $SAND was named in both lawsuits as it is available for trading on both #Binance and #Coinbase.

This dual exposure likely contributed to the sell-off and subsequent price decline experienced by $SAND.

4/ $BNB, the fourth-largest cryptocurrency, saw a -9.4% drop immediately after the lawsuit was announced. By June 12, $BNB's price had fallen by -23.0%.

The price of $BNB dropped from $305.57 to $235.20 during that period.

5/ $ADA, currently the eighth-largest token by market capitalization, also faced significant losses.

It dropped by -7.0% on June 6, and by June 12, $ADA's value had plummeted by -27.9%, from $0.38 to $0.27.

Methodology: This study examined the prices of 19 tokens named in the #SEC lawsuits against #Binance and #Coinbase, between June 5 and June 12, using data from @coingecko.

The tokens selected were $BNB, $ADA, $SOL, $MATIC, $ATOM, $FIL, $SAND, $MANA, $ALGO, $AXS, $CHZ, $FLOW, $ICP, $NEAR, $VGX, $DASH, $NEXO, and $COTI.

Check out the full study: gcko.io/zlgtre5

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