Crypto resilient after Binance lawsuit, but BNB hits a 6-month low
Binance Coin has fallen by double digits after SEC initiates investigations on exchange
The rest of the crypto sector remains resilient, with AltSignals having potential
$ASI presale demand could fuel the price increase when the token lists on exchanges
News that the US Securities and Exchange Commission has sued Binance and later Coinbase could be the hottest in crypto now. As an exchange that controls more than 60% of crypto volume, Binance’s lawsuit was expected to generate shockwaves. Binance is accused of 13 counts of violations, one being offering unregistered security tokens. Coinbase is charged with operating an unregistered securities exchange, clearing agency, and broker.
BNB falls to a 6-month low with resilience across the sector
Binance Coin (BNB) traded at $261 on June 8 on the back of ongoing tussles between the crypto exchange and SEC. The last time the cryptocurrency traded at this level was on January 23, implying a nearly 6-month low.
Despite this significant price drop, the rest of the sector looks resilient. Bitcoin trades at $26,400, Ethereum at $1,840, and XRP at $0.51. Although slightly lower, the price decline has been low compared to the market event triggered by FTX in November 2022.
Elsewhere, DeFi activity has remained steady across various platforms, according to DeFiLlama. The total value locked has remained around $45.43 billion. The resilience underlines positive sentiment among investors, unlike previous panic-involving events. The DeFi activity, in conjunction with stable crypto prices, means a potential recovery as circumstances of SEC lawsuits settle.
AltSignals to benefit from a post-SEC market resurgence
It might not be clear when the case of Binance with SEC will conclude. Similar cases like the Ripple entanglements have lasted years. However, a potential clearance of the regulatory hurdle will boost demand for digital assets. AltSignals, a new entrant into the space and currently on presale, could benefit from this development.
AltSignals ($ASI) endears as crypto for traders. The token is 87% sold out in presale, with an innovative trading platform being the main attraction. $ASI offers value for investors looking to earn by belonging to a trading community. With a potential renewed focus on tokens not seen as securities under the SEC classification, $ASI could attract investors and unlock a projected 10x return.
Understanding AltSignals and $ASI
AltSignals is a proprietary trading signal platform created in 2017 by a team of experienced UK traders. The signal service covers forex, crypto, and stocks as its main instruments using a technical analysis tool, AltAlgo™.
A strong demand for AltSignals service has prompted its team to explore a more advanced technical analysis tool using artificial intelligence. The AI platform, dubbed ActualizeAI, will run on the Ethereum network. The platform will use AI to generate more quality trading signals.
Members of ActualizeAI will need to own $ASI as the native token, which they can use to vote on governance. The benefit of belonging to a trading community has fueled the demand for $ASI, explaining the robust presale.
Members can also earn $ASI by participating in trading-related tournaments and contributing to ActualizeAI projects. ActualizeAI members also have exclusive access to other presale opportunities.
$ASI prediction in 2023
2023 is another harsh year for cryptocurrencies, although the market has regained stability after a disastrous 2022. That means the potential for overzealous price increases for any cryptocurrency could be overambitious but realistic.
However, the above can’t be said of new and innovative tokens like $ASI. Newly launched tokens have risen by triple digits as the hunt for memes and high-value crypto projects continues in a bear market. As such, the potential for $ASI remains high once it launches on exchanges like Uniswap.
A projected increase of 10x is a realistic target by the end of 2023, considering that the token has the backing of an existing trading community. If $ASI rises by this margin, a price of $0.15 would be the potential minimum for investors.