Altcoins launched as securities under SEC lawsuits increase risk factors. In this article, you can find the ratings compiled from various platforms and the developments that will negatively affect altcoin prices next week.
These 5 altcoins pose high risk this week
vomiting (KSM)
Kusama, the pre-production blockchain version of Polkadot, tops the list of ‘altcoins to avoid’. KSM received low marks from almost all of the various rating platforms. Platforms like Weiss Crypto Ratings (WCR), TokenInsight and Wikirating’s Crypto Rating Index (CRI) give KSM an ‘E’ or ‘very weak’ rating for the week of June 19.
Price-wise, KSM is currently trading sideways in the $22.96 zone. It continues its double-digit depreciation on a two-week and monthly basis. The BTC and altcoin market gained momentum at KSM after recovering somewhat on June 17. However, it failed to make a stronger gain.
ABBC (ABBC)
Slightly better positioned than Kusama, ABBC is still ‘low desirable’ according to rating platforms. Meanwhile, the price is down over 7% over the last 24 hours. Its price is currently trading in the $0.135231 region.
Mina Protocol (MINA)
It has a low rating in Mina. This indicates that it is ‘currently vulnerable’ and dependent on favorable commercial, financial or economic conditions to remain valuable. MINA price is currently continuing its sideways movements compared to the last 24 hours. At the time of writing, it is trading at $0.423940, where it has lost 15% as much as the last two weeks.
CoinEx (CET)
A tough time comes for the CET token after crypto exchange CoinEx (CET) withdrew from the US market in February 2023 following a lawsuit filed by the New York Attorney General for alleged securities fraud. cryptocoin.comAs you follow, he was fined $1.1 million this week. Price-wise, CET is trading in the $0.03162470 region where it continues its sideways movements.
Filecoin (FIL)
Finally, amid the regulatory attack in the US, Grayscale withdrew its application to list Filecoin (FIL) as a Trust Investment product. This brought Filecoin’s risk indicators to the top. FIL is currently trading at $3.69, down 15% from last week.
As a result, crypto ratings have identified some risk in coins like KSM and FIL this week. However, developments in the new week could quickly turn the situation around. Any incoming crypto supremacy of SEC lawsuits will be the biggest trigger for that.
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For the rest of the article, Analysts Warn: Stay Away From These 5 Altcoins Next Week!