Key Points:

• The number of crypto market liquidations in the last 24 hours has surpassed $300 million.
• This is the impact the SEC has, in that tokens recorded by the SEC as protections in its claim against significant trades dove over 20% in the beyond 24 hours.

The tokens listed as securities by the Securities and Exchange Commission (SEC) in the lawsuit against Binance and Coinbase have plummeted as a result of the SEC’s crackdown last week. The crypto market is currently reeling from this.

Data from CoinGlass show that tokens that the SEC has listed as securities are losing a lot of money. In particular, MATIC fell by 22.8%, SOL by 21.1%, ADA by 22.4%, FIL by 22.1%, and SAND by 19.3% in the last 24 hours.

A few tokens that are not recorded as protections, like Over powered, SUI, BSV, and EOS, additionally dove. Be that as it may, Bitcoin and Ether just saw a slight downfall. Bitcoin’s recorded abatement right now is 2.3% as of now, while that of ETH is 2.2%.

At the time of writing, the liquidation amount was close to $300 million within an hour.

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After the SEC sued two of the world’s leading cryptocurrency exchanges, Coinbase and Binance, this week for allegedly violating its regulations, it is anticipated that additional US crypto exchanges will be targeted.

On Tuesday, the SEC said that Coinbase traded at least 13 crypto assets that should have been registered as securities. On Monday, the SEC said that Binance, the biggest cryptocurrency exchange in the world, gave out 12 digital coins without registering them as securities.

In its activities against Binance and Coinbase, the SEC explicitly makes reference to 19 digital forms of money as protections. The following tokens have been designated as securities by the SEC.

In its case against Binance, the SEC categorized these tokens as securities:

• Cosmos (ATOM)
• Binance Coin (BNB)
• Binance USD (BUSD)
• COTI (COTI)

Meanwhile, these cryptocurrencies were identified as securities in the SEC’s case against Coinbase:

• Chiliz (CHZ)
• Near (NEAR)
• Flow (FLOW)
• Internet Computer (ICP)
• Voyager Token (VGX)
• Dash (DASH)
• Nexo (NEXO)

Ultimately, these coins were designated securities on both platforms, Binance and Coinbase:

• Solana (SOL)
• Cardano (ADA)
• Polygon (MATIC)
• Filecoin (FIL)
• The Sandbox (SAND)
• Decentraland (MANA)
• Algorand (ALGO)
• Axie Infinity (AXS)

The SEC’s list of cryptocurrencies specifically designated as securities grows as a result of the cases. According to officials in the industry, this raises concerns regarding the other exchanges, such as Kraken, Gemini, Crypto.com, and Okcoin, that have allowed US investors to trade particular tokens and whether or not they may be subject to regulatory action. The disputed tokens may be delisted by several exchanges.