A sharp weekend selloff in crypto led by a slump in smaller digital tokens set off a fresh wave of anxiety among investors, following a week in which a crackdown by the US Securities and Exchange Commission (SEC) on the sector gained significant pace.
A sharp weekend selloff in crypto led by a slump in smaller digital tokens set off a fresh wave of anxiety among investors, following a week in which a crackdown by the US Securities and Exchange Commission on the sector gained significant pace.
“Altcoins have been in the spotlight” ever since the SEC categorized some of these tokens as securities in recent lawsuits, said Gordon Grant, co-head of trading at Genesis, in an interview Saturday. “Coming into this weekend, as we got to that witching-hour time, these alts suddenly came under fire.”
“Early Saturday morning UTC time is not a good time to exit unless you want to really move the price,” Acheson wrote in her newsletter on Saturday. “Today’s move is not good news, and not just because of the lower prices. It reminds investors how thin the market currently is, and how prices could be manipulated.”
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