Why Cardano (ADA) Is Falling Sharply
Portfolio Pulse from Henry Khederian
Cardano (ADA) is down 6.92% to $0.33 as several altcoins trade lower following the SEC's lawsuit against Coinbase for operating as an unregistered securities exchange, broker, and clearing agency. Crypto-related stocks are also affected after the SEC sued Binance over U.S. securities violations.
June 07, 2023 | 3:11 pm
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Cardano (ADA) is down 6.92% to $0.33 as the SEC's lawsuits against Coinbase and Binance affect the crypto market, including altcoins like ADA.
The SEC's lawsuits against Coinbase and Binance have created a negative sentiment in the crypto market, causing several altcoins, including Cardano (ADA), to trade lower. The regulatory actions against major crypto exchanges may lead to increased scrutiny and uncertainty, affecting the short-term price of ADA.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100