The US Securities and Exchange Commission’s lawsuit against crypto exchanges Binance and Coinbese shook the market. After this development, many cryptocurrencies saw historical bottoms. We took a look at 6 altcoin projects that saw the bottom of Turkish crypto money investors.
Altcoins remain under selling pressure
cryptocoin.comLast week, the SEC sued Binance and Coinbase. After that, the global crypto market witnessed one of the wildest altcoin bloodbaths since the Terra Luna collapse in 2022. The ongoing ‘SEC vs Crypto’ mainly started this crypto crash. Numerous cryptocurrencies have bottomed out, hitting all-time lows (ATL).
After being labeled as securities, ADA, SOL and MATIC posted strong declines. In particular, the following altcoins, which are among the top 150 by market cap, have suffered terrible drops over the past week.
Algorand (ALGO) comes first
Algorand (ALGO) has fallen victim to the SEC’s crypto lawsuits, getting the ‘securities’ label. Since then, the market has exhibited a bearish series of losses. According to TradingView, ALGO hit an all-time low (ATL) at $0.0958 on June 10.
As a way of signaling the possibility of a recovery, the altcoin price later appreciated. According to CMC, the crypto traded at $0.11.
Another altcoin that saw ATL was Bitcoin SV (BSV)
Second, Bitcoin SV (BSV) registered ATL at $15.70 on the OKX exchange, according to TradingView data.
At press time, BSV was down 2.51% to trade at $25.21, according to CoinMarketCap. Also, BSV’s 24-hour trading volume dropped by 18.93%
Mina Protocol (MINA) has also slipped to the bottom
Mina Protocol is a minimal ‘concise Blockchain’ created to reduce computational requirements to run DApps more efficiently. MINA was also one of the altcoins that was seriously affected by the SEC’s move. The altcoin came close to touching its ATL at $0.3794.
Hence, this altcoin is down over 20% on a weekly basis. According to data from CoinMarketCap, in the last 24 hours, MINA was down 1.23% to trade at $0.4109.
Another altcoin that saw ATL was Flow (FLOW)
FLOW is another cryptocurrency placed on the securities list by the SEC. The altcoin witnessed a notable drop of over 31% in the past week. After that, FLOW recorded an all-time low of $0.4354.
According to CoinMarketCap, FLOW was trading at $0.4933 at press time after losing 2.40% in the last 24 hours.
Arbitrum (ARB) also saw ATL
ARB holds the title of being one of the cryptocurrencies to stage viral airdrops in 2023. This altcoin is the local government token of the Ethereum L2 rollup network Arbitrum. Arbitrum (ARB) posted its new ATL at $0.9488 on Saturday, according to TradingView data. Thus, ARB has lost 91.8% of its value since its launch.
According to CoinMarketCap, at the time of this writing, ARB was trading at $0.9704 after falling 2.90% in the last 24 hours.
Sui (SUI) among cryptocurrencies dipping to the bottom
Just like ARB, another Sui (SUI) with a sensational airdrop has also made its mark on its new ATL. The airdrop of SUI was also a highly anticipated event among the crypto community. SUI is the native token of the Layer-1 Blockchain Sui Network. Notably, this crypto regulatory pressure caused SUI to drop to its ATL at $0.558.
Shockingly, SUI has dropped 86.43% since its launch. According to CoinMarketCap, the price of SUI is down 1.41% in the last 24 hours to $0.6105.
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For the continuation of the article, Turks Bought Plenty! Here Are 6 Altcoins That Dropped With SEC Shock!