Solana, Cardano, and Polygon repel ── Developer comments on SEC counterattack | CoinDesk JAPAN | Coin Desk Japan

Solana (SOL), Cardano (ADA) and Polygon (MATIC), which suffered heavy losses last weekend, calmed down on June 12 and recovered some losses.

At the time of writing, SOL rose by 2.2%, ADA by 3.5%, and MATIC by 5.5% in 24 hours (CoinGecko data). Looking at futures data, open interest and liquidations were relatively low, with activity appearing to be led by spot trading.

The creators of these tokens have released statements over the past few days countering the U.S. Securities and Exchange Commission (SEC) allegations, trying to regain investor confidence.

“Solana is not a security,” the Solana Foundation said Wednesday, with one developer saying development on Solana won’t lose momentum in the coming weeks.

Cardano developer IOG said on Wednesday that there were “numerous factual errors” in the SEC complaint and that “ADA is not a security under any circumstances.”

Polygon Labs said on Tuesday that MATIC was “developed outside the United States and deployed outside the United States” and was “available to a wide range of groups, but only initiatives that do not target the United States at any time.” was,” he said.

Earlier this week, the SEC sued crypto exchanges Binance and Coinbase on multiple charges, including offering unregistered securities, and named several tokens as “securities.”

Specifically, Sandbox (SAND), Filecoin (FIL), Axie Infinity (AXS), Chillies (CHZ), Flow (FLOW), Internet Computer (ICP), Near (NEAR), and Voyager (VGX). , DASH, and NEXO were listed as securities.

On the 10th, SOL, ADA, and MATIC fell by about 30%. Millions of dollars worth of MATIC from major market makers Jump Trading and Cumberland were sent to exchanges before the drop, according to on-chain data, selling the SEC-named token. It shows that

Among them, Bitcoin (BTC) and Ethereum (ETH) fell by up to 4.5%.

Meanwhile, according to TradingView, Bitcoin dominance (Bitcoin’s share of the total cryptocurrency market capitalization) rose in the early hours of the 10th, approaching 50% for the first time since April 2021.

｜Translation: coindesk JAPAN
｜Editing: Takayuki Masuda
｜Image: Cardano Price Trend (CoinDesk)
｜Original: SOL, ADA, MATIC Prices Stabilize as Foundations Hit Back on SEC Lawsuit Allegations