Altcoins
Crypto Weekend Crisis: Altcoin (SOL, ADA, MATIC) Hit by SEC Crackdown
A sharp weekend sell-off in cryptocurrencies, driven by a collapse in smaller digital tokens, sparked a new wave of anxiety among investors, after a week in which the United States cracked down Security and Exchange Commission in the sector has accelerated significantly.
Altcoins including Cardano’s ADA fell as much as 25% on Saturday before paring some of the decline, while tokens including Solana’s SOL, Polygon’s MATIC and Avalanche’s AVAX posted gains. double-digit percentage drops. Bitcoin, the largest digital asset, was down almost 3% as of 4:15 p.m. in New York. Ether, second in the ranking, lost more than 6% to reach its lowest level since the end of March.