The crypto market has plummeted to around $ 1 trillion today, with a liquidation amount exceeding $ 200 million within 1 hour. In particular, some tokens that have been registered as securities by SEC have been devastated:
Like there, matic, sol, fil, sand and several other tokens are also affected, but Bitcoin (BTC) and Ethereum (ETH) only experience a slight decline.
https://www.coingecko.com/
What causes this market decline?
The fall of the market is caused by traders who feel significant selling pressure due to Robinhood's decision to remove there, matic, and sol. It is assumed that Robinhood stores around $ 1.3 billion in Altcoin and $ 583 million in the form of existence, matic, and soles.
While Coinbase is preparing to fight against SEC by stating that he has no plans to delete tokens that are allegedly considered securities or will not stop his staking services until there are court orders, other US companies such as Robinhood and Grayscale are unable to continue to serve the token.
Another reason came from the decision of the Moody credit rating agency which reduced the coinbase rating from stable to negative.
What do you think of your friends to take advantage of situations like this, is it now the right time to buy a few coins?