
The SEC has asked the court to take control of Binance's business by requiring it to produce documents.
The week started off in the green, but bullish momentum plateaued following the latest filing from the Securities and Exchange Commission in its ongoing legal spat with Binance, the world's largest cryptocurrency exchange.
The number of digital assets with market capitalization rose between 1% and 2% in the early hours of Sept. 18. The SEC's request for an inspection of Binance US and the agency's later call for courts to provide relevant documentation, however, vanished after the SEC's request for an inspection of Binance US.
Bitcoin lost around 2% from a peak near $27,394 to $26,868, while Ether fell 1.6% to $1,640.
Solana's SOL, which has posted a 11% increase in the past seven days, has shown resilience.
The top two tokens by seven-day gains are Toncoin, up 49%, and Bitcoin Cash, 19.3%, and Litecoin, 14%.
CoinGecko said that the overall combined DeFi market capitalization in the past week had increased by approximately 7%.
Of those top-performing tokens, half saw a rise in value over 10%. Thorchain rose 30.8%, followed by Aave 17.5%, followed by Maker and Chainlink, which rose 15%.
Cryptobase's Base network has again become the top layer 2 network, up 130% in the past week. The resurgence of social app friend.tech has been generating increased activity on Base.