Crypto-capable cryptocurrencies rally as SEC seeks court orders

94
1
Crypto-capable cryptocurrencies rally as SEC seeks court orders

The SEC has asked the court to require Binance to produce documents in the United States.

The week started in the green, but bullish momentum grew following the latest filing from the SEC into the agency's ongoing legal spat with Binance, the world's largest cryptocurrency exchange.

A majority of the top 20 digital assets by market capitalization rallied between 1% and 2% in the early hours of Sept. 18th. The SEC's request for an inspection of Binance US and the agency's subsequent call for courts to force the exchange to provide relevant documentation, but this surge disappeared following the SEC's request for an inspection of Binance US.

Bitcoin fell around 2% from a peak near $27,394 to $26,868, while Ether fell 1.6% to $1,640.

Solana's SOL has recorded a 11% surge over the past 7 days, showing resilience in recent times.

The leading token on Thursday is Toncoin, up 49%, followed by Bitcoin Cash, 19.3%, and Litecoin, 14%.

CoinGecko said the combined DeFi market value rose about 7% in the past week.

Half of the top-performing tokens in the sector rose more than 10%. Thorchain is up 30.8%, Aave 17.5%, followed by Maker and Chainlink, which rallied 15%.

The base network at Coinbase has been again the top layer 2 network by throughput, which is up 130% in the past week. The revival of social app friend.tech has resulted in increased activity on Base.