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…