According to recent sources, Solana (SOL), Avalanche (AVAX), and Binance Chain’s BNB have lost 12.24%, 11.46%, and 8.81%, respectively, in the last 24 hours.
During the sell-off, the cryptocurrency market once again demonstrated a favourable link to stocks, with Nasdaq futures falling 0.95 percent at the same time that Bitcoin fell from $31,362 to $29,184.
As per the recent sources, positions on derivatives exchanges worth more than $214 million have been liquidated in the last 24 hours. Positions worth roughly $8.31 million were liquidated at Solana.
The day before, Bitcoin and altcoins had seen big gains the day before, as the crypto market made a remarkable rebound following a setback. Bitcoin’s price fell to an intraday low of $29,184 on June 7, a decline of roughly 6% from its recent high.
The Securities and Exchange Commission of the United States has opened an investigation into Binance’s BNB. The SEC is investigating whether the Binance exchange token is an unregistered security.
Binance started its initial coin offering (ICO) in July of last year, with the exchange raising a total of $15 million.
As previously noted, the inquiry is still ongoing. Speculators believe the exchange will avoid legal action from the regulator. BNB is still the fifth largest cryptocurrency in terms of market capitalization, in spite of its strong growth in 2021. As soon as the news came, Binance’s BNB fell by about 5%.
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, Avalanche (AVAX), and Binance Chain's BNB have lost 12.24%, 11.46%, and 8.81%){kind=link}