SEC’s Designation of Crypto Assets as Securities Results in a Combined Value of $98 Billion

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The U.S. Securities and Exchange Commission (SEC) has spent the past year characterizing a variety of crypto assets as securities in relation to Binance, Bittrex, Coinbase, Terra’s Do Kwon, Tron’s Justin Sun, among others. The collective value of these significant digital assets, deemed as securities, currently stands at $98 billion, comprising over 8% of the cryptocurrency market.

Crypto Assets Regarded as Securities by SEC Constitute 8% of Cryptocurrency Market

The SEC has categorized a sizable range of crypto assets, including decentraland (MANA), dash (DASH), algorand (ALGO), beaxy token (BXY), solana (SOL), binance coin (BNB), cardano (ADA), and others, as securities under its jurisdiction. The combined value of these supposed securities is a staggering $98 billion as of Wednesday. Additionally, over the past 24 hours, these coins witnessed a total trading volume of about $4.47 billion worldwide.

On July 19, 2023, the aggregated value of all 66 crypto assets designated as securities by the SEC exceeded $98 billion.

The top five crypto assets, viewed as securities by the SEC, based on market capitalization include binance coin, cardano, solana, tron, and polygon, accounting for $72.93 billion of the total $98 billion or 74.41%. After polygon, the highest-valued alleged crypto securities include ton coin, binance usd, cosmos, filecoin, internet computer, near protocol, algorand, and sandbox.

The top ten crypto assets classified as securities by the SEC based on market capitalization on July 19, 2023.

These eight coins constitute $18.54 billion or 18.91% of the overall $98 billion. This means that the top 13 crypto assets perceived as securities make up 93.32% of the market value of the 66 classified.

Certain tokens in this list, such as Mirror Protocol’s synthetic stock tokens, have no intrinsic value but were still categorized as securities by the SEC, including luna classic (LUNC) and terrausd classic (USTC). Of all tokens representing 93% of the alleged securities list’s value, only two experienced losses in the past week. BNB witnessed a decrease of 2.37% over the past week, while internet computer fell by 2.02%.

However, the SEC’s classification of these crypto assets as securities does not necessarily confirm their status. Ripple Labs recently achieved a partial victory regarding its crypto asset’s programmatic sales. Binance, Coinbase, Bittrex, and others are also engaged in legal battles with the SEC; these cases’ outcomes might provide further insights.

Despite initial declines in the wake of the SEC’s disclosure, most of the crypto assets identified as securities have bounced back and reported gains following the recent XRP ruling.

How do you foresee the SEC’s classification of these crypto assets as securities influencing the future of the cryptocurrency market?

Frequently Asked Questions (FAQs) about SEC’s Crypto Securities Classification

More about SEC’s Crypto Securities Classification

• U.S. Securities and Exchange Commission
• Binance
• Coinbase
• Bittrex
• Ripple Labs
• Terra’s Do Kwon
• Tron’s Justin Sun
• Decentraland (MANA)
• Dash (DASH)
• Algorand (ALGO)
• Beaxy Token (BXY)
• Solana (SOL)
• Binance Coin (BNB)
• Cardano (ADA)
• Mirror Protocol