In its latest regulatory action against the cryptocurrency industry, the U.S. Securities and Exchange Commission (SEC) filed several lawsuits against Binance and Coinbase where it labeled some tokens including Polygon's MATIC as securities, causing a sharp price decline across the entire crypto market. Amid this drama, Polygon responded to the SEC causing a price rally for MATIC along with Tradecurve which has been making waves in the DeFi sector.
Summary
- Polygon (MATIC) was labeled along with 67 other cryptocurrencies as securities by the SEC
- The price of MATIC jumped 14% as Polygon responded to the SEC's litigations
- A new altcoin, Tradecurve (TCRV) has been on a similar meteoric rise, with a 20% price jump
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Polygon Responds To SEC and Price Rebounds
Amid the latest regulatory landscape in the crypto space, Polygon, a leading blockchain platform, took to social media to address the SEC's litigation on June 10th. In a tweet, the Polygon team proudly highlighted its development and deployment of the project outside the United States. The team is dedicated to expanding Polygon to the global community.
The Polygon team expressed their gratitude toward regulators, policymakers, and the non-U.S. market adding that the team is willing to work with them in order to better the Polygon ecosystem. Meanwhile, the response from the crypto community has been positive as they applauded Polygon's stance against the SEC.
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This response from Polygon (MATIC) and its community caused a sentiment change surrounding MATIC which has experienced a notable decline in recent days. The price of MATIC jumped by 14% in 24 hours, causing the token to trade as high as $0.680. There is hope that the launch of Polygon 2.0 would rekindle investors’ confidence in MATIC and help the price of the token to rebound toward $0.75.
This New Altcoin Continues Its Meteoric Rise
The crypto space is very dynamic as new projects are rising up every day to displace old ones. While Polygon is still under bearish pressure, investors are currently moving towards a new crypto project, Tradecurve, that has jumped 20% over the last week, as its price rose from $0.015 to trade at $0.018.
Analysts have even predicted a potential 50% price surge for the TCRV token in the coming week, further fueling the excitement around Tradecurve's prospects.
Analysts are bullish about Tradecurve because unlike centralized exchanges (CEXs) like Kraken and Huobi, Tradecurve is building a trading platform that will provide a wide array of trading assets and exposure to diverse markets, including commodities, cryptocurrencies, forex, CFDs, and stocks. Additionally, it will offer one of the lowest transaction fee structures in the cryptocurrency industry.
Tradecurve plans to launch a metaverse trading academy aimed at helping both beginners and experts enhance their trading skills. Furthermore, the platform provides additional benefits such as AI trading, copy trading, and bot trading.
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Visit the links below to get more information about Tradecurve and the TCRV token:
