The bitcoin rate has updated a minimum since March 17 after it became known about the suit of the US Securities and Exchange Commission (SEC) against the Binance crypto exchange. On the night of June 5-6, the cost of BTC dropped to $25.44 thousand, writes RBC Crypto.
At 10:50 Moscow time, bitcoin is trading near the $25.7 thousand mark. During the day, it lost 4% in price. BTC trading volume for 24 hours amounted to $15.8 billion.
The price of bitcoin, like most leading cryptocurrencies, began to fall after the news that the SEC sued the Binance crypto exchange and its head Changpeng Zhao. They face 13 charges, including operating unregistered exchanges, misrepresenting the operation of Binance.US, and participating in an unregistered offer and sale of securities.
In its lawsuit, the regulator named the BNB exchange token, BUSD stablecoin, Solana (SOL), Cardano (ADA), Polygon (MATIC), Filecoin (FIL), Cosmos (ATOM), Sandbox (SAND), Decentraland (MANA) coins as securities, Algorand (ALGO), Axie Infinity (AXS) and COTI (COTI).
Amid the news, the BNB token fell 7.8% to $277. The price of Solana (SOL) fell by 7.2% to $20, the Cardano (ADA) coin fell in price by 6.3% to $0.35, Polygon (MATIC) fell by 6.2% to $0.83.
Filecoin (FIL) fell 7.7%, Cosmos (ATOM) — 6.5%, Sandbox (SAND) — 14.1%, Decentraland (MANA) — 11.9%, Algorand (ALGO) — by 9%, Axie Infinity (AXS) – by 8.6% and COTI (COTI) – by 8.5%.
Ethereum fell in price by 2.9% over the day, to $1.81 thousand. The total market capitalization of the crypto market over 24 hours decreased by 3.6%, to $1.13 trillion, the daily trading volume amounted to $53.7 billion.
The fear and greed index has fallen into the “fear” zone, dropping from 53 points to 44 out of 100. The indicator suggests that crypto market participants are now more inclined to sell digital assets.
Source: Cryptocurrency
I am an experienced journalist and writer with a career in the news industry. My focus is on covering Top News stories for World Stock Market, where I provide comprehensive analysis and commentary on markets around the world. I have expertise in writing both long-form articles and shorter pieces that deliver timely, relevant updates to readers.
