Solana, Cardano, and Polygon temporarily drop by more than 20% | CoinDesk JAPAN | CoinDesk Japan

In the US Securities and Exchange Commission (SEC) lawsuit against cryptocurrency exchanges Binance and Coinbase, 13 crypto assets were deemed securities days after they were deemed securities, some more than 20% in 24 hours. fell.

The data shows that the decline occurred in the early hours of the 10th ET. Solana (SOL), Polygon (MATIC) and Cardano (ADA) are down 25% in a few hours. On Twitter, there were also voices that a major crypto asset fund sold its holdings in a market environment with low liquidity.

The weekly rate of decline has reached 34%.

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Binance Token (BNB), Dogecoin (DOGE) and XRP (XRP) also dropped more than 11%. Bitcoin (BTC) is down 3.6% while Ethereum (ETH) is down 4.5%.

Nearly $300 million in crypto-related futures liquidations occurred earlier this week, according to data from Coinglass, surpassing the first nine-month liquidation earlier this week.

Earlier this week, the SEC deemed several altcoins to be securities in a lawsuit filed by two exchanges. In response, popular payment app Robinhood seems to have ended support for Cardano, Solana, and Polygon.

｜Translation: coindesk JAPAN
｜Editing: Takayuki Masuda
｜Image: Solana price change for one week (CoinDesk)
｜Original: SOL, ADA, MATIC Tokens Slide 20% in Sudden Move Days After SEC Lawsuit Allegations