Originally Posted On Publish0x
These last few weeks have been some of the most turbulent for the cryptocurrency market, especially for the so-called altcoins or alternative currencies to bitcoin. The reason is the lawsuit filed by the U.S. Securities and Exchange Commission (SEC) against Coinbase, the second largest cryptoasset exchange platform in the world and the main publicly traded one.
According to the SEC, Coinbase operates as an exchange, broker and clearing agency without having registered any of those functions with the regulator, in violation of federal securities laws and a risk to investors. In addition, the SEC accuses Coinbase of offering staking services without complying with disclosure and reporting requirements.
This lawsuit has led to a sharp drop in Coinbase's stock price, which lost more than 16% in a single day. It also negatively affected the value of many altcoins traded on the platform, such as cardano, solana, polkadot or uniswap, which registered losses of more than 10%.
However, bitcoin and ether, the two most important cryptocurrencies with the largest market capitalization, have remained relatively stable (and I said: "...relatively stable..."). Bitcoin has oscillated between $25,000 and $28,000 (little more, little less), while ether moved between approximately $1,700 and $2,000. Both currencies showed greater resilience in the face of regulatory pressure and market uncertainty.
What is the reason for this difference in behavior between bitcoin and ether on the one hand and altcoins on the other? There are several possible explanations. One is that bitcoin and ether have greater liquidity and wider adoption than altcoins, which gives them greater solvency and security. Another is that they have greater decentralization and less dependence on centralized platforms such as Coinbase, making them less vulnerable to legal or regulatory action.
In addition, bitcoin and ether are more mature and innovative than altcoins, allowing them to offer better solutions to current problems in the industry. For example, bitcoin is implementing improvements such as Taproot or Lightning Network to increase its privacy, scalability and speed. Ether, on the other hand, is undergoing a transition process that will reduce its energy consumption and increase its capacity. However, the cryptocurrency market continues to be very volatile and changing, and any event can alter its balance. The important thing is to keep an eye on developments and act prudently and intelligently.
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Author's Note: The opinion expressed here is not investment advice, is provided for informational purposes only, and reflects the opinion of the author only. I do not promote, endorse or recommend any particular investment. Investments may not be right for everyone. Every investment in the market and every trade you make involves risk, so you should always do your own research before making any decision. I do not recommend investing money that you cannot afford to chair, as you could lose the entire amount invested.
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