Following the SEC’s handling of the Unregistered Investment Contracts lawsuit, the 19 tokens included in this group lost nearly $20 billion in total value, while the increase in transaction volume in these cryptos went unnoticed.
According to research firm CCData’s findings, these 19 tokens saw a 2 percent increase in total trading volume and a 13 percent increase in market share. The increase in trading volume did not prevent the total market capitalization of 19 tokens from falling by 20 percent.
In the information provided by the research firm, it was also noted that some of these types of tokens may still have high volumes even after they have been delisted by platforms such as Robinhood and Bakkt.
Some investors are said to have invested in these tokens even after the XRP ruling in a separate lawsuit, and they are hopeful of a similar ruling.
Kyle Doane, a trader at digital asset investment firm Arca, said: “Tokens designated as investment contracts are traded by investors for the potential for good news. In the aftermath of the XRP decision, the clarity in the regulations took a turn for the worse. This actually pushed prices back further,” he said.
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