SOL, ADA, and MATIC push back against the SEC, this new Altcoin will put the power back in the hands of traders
Last week, the US Securities and Exchange Commission (SEC) filed several lawsuits against crypto exchanges, Binance and Coinbase, claiming that most altcoins including Solana (SOL), Cardano (ADA), and Polygon (MATIC) were securities.
However, the teams behind all three projects have wasted no time in reacting to the litigation. In other crypto-related events, Tradecurve a new altcoin has been steadily gaining traction among traders in the DeFi space as it promises to put power back in their hands along with anonymous trading.
Solana (SOL), Cardano (ADA), and Polygon (MATIC) push back against the SEC
The SEC on June 6th claimed that popular cryptocurrencies like Solana (SOL), Polygon (MATIC), and Cardano (ADA) are securities, but these tokens and their respective organizations are pushing back against these allegations.
The Input-Output Global (IOG), the firm responsible for Cardano, has stated that ADA has never been considered a security under U.S. securities law.
In a different suit, the Solana Foundation, dedicated to the development of Solana, disagrees with the characterization of SOL as a security and emphasizes its commitment to working alongside regulators.
Lastly, Polygon Labs, the company behind Polygon (MATIC), did not explicitly refute the security classification but attempted to distance MATIC from US markets stating that the MATIC token was developed outside the US.
Notably, the price of these tokens which have a combined market capitalization of over $21 billion dropped significantly after the SEC’s litigation. Meanwhile, at the time of writing, Solana, Cardano, and Polygon are trading at $14.90, $0.263178, and $0.592375, respectively.
While Solana and Cardano have recorded price increases of 0.46% and 2.40%, respectively, Polygon’s price has dropped by 3.97% in the last 24 hours.
This new Altcoin will put the power back in the hands of traders
Amid the regulatory turmoil in the crypto space and the move by regulators to make KYC checks mandatory, a new trading platform, Tradecurve, has emerged that will give investors and traders power over their assets and private keys, unlike exchanges like Binance and Coinbase that are the subject of the recent SEC crackdown on the crypto industry.
The Tradecurve platform will allow investors from anywhere in the world to trade a wide range of financial instruments with just an email address after connecting their crypto wallet.
Tradecurve is not just a hybrid exchange that will offer users the benefits of DEX and CEX, it will be the first blockchain platform that will offer crypto traders exposure to stocks, commodities, CFDs, and forex.
Additionally, its utility token, TCRV, has managed benefits for holders such as staking rewards and governance rights. TCRV has been bullish as the platform enjoys a new wave of traders and investors in the project.
With its current price sitting at a modest $0.018, experts predict the price of TCRV has the potential to trade between $1 and $1.5 per token at the end of 2023 as the Tradecurve platform pushes to become one of the three top crypto exchanges.
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