In recent months, 19 cryptocurrencies, notably deemed unregistered securities by the Securities and Exchange Commission (SEC), experienced a dramatic dip in their combined market value, shedding roughly $20 billion.
These tokens included Solana (SOL), Cardano (ADA), Polygon (MATIC), Filecoin (FIL), The Sandbox (SAND), Decentraland (MANA), Algorand (ALGO), Axie Infinity (AXS), Chiliz (CHZ), Near (NEAR), Flow (FLOW), Internet Computer (ICP), Voyager Token (VGX), Dash (DASH), Cosmos (ATOM), Binance Coin (BNB), Binance USD (BUSD), COTI (COTI), and Nexo (NEXO).
However, contrary to expectations, these tokens have witnessed a noticeable upswing in trading volumes since mid-June. The backdrop of this unexpected rise lies in the June lawsuits that the SEC filed against top exchanges, Binance and Coinbase Global Inc.
