After the US Securities and Exchange Commission’s lawsuit against Binance, the markets are in a minor crisis.
Cryptocurrencies, especially the leading crypto money Bitcoin and BNB, went into a rapid decline after the news of the lawsuit.
Bitcoin started a rapid decline after the news of the lawsuit and fell below the $26,000 level. The asset, which has been pushing the resistance zone to reach the $28,000 level for a while, is trading at $25,739, according to data from the Bitstamp exchange.
A similar situation exists with Binance’s cryptocurrency BNB. BNB fell quite sharply from the $300 level to the $276 level. The asset is trading at $279 at the time of writing, according to Binance data.
The largest altcoin Ether also seems to have been affected by the negative atmosphere brought by the lawsuit. Consolidating around $1,865 a few hours ago, the asset fell sharply below $1,800. Ether is trading at $1,809 at the time of writing, according to data from the Bitstamp exchange.