SEC lawsuits have hit crypto securities harder than crypto commodities

Quick Take

• This week, the Securities Exchange Commission (SEC) filed lawsuits against Binance and Coinbase.
• Among the charges, in both cases, it was alleged particular crypto tokens fall under the classification of “securities.”
• The altcoins named by the SEC are shown in the securities column of the first graphic below, along with those deemed commodities.
• Comparing the market capitalization movement percentages for both sets of crypto assets, drawdowns were noted for commodities and securities on June 5 and 7, with securities dipping close to -8% on both days. In contrast, commodities dipped a lesser degree, to -4% and -3.5%, respectively.
• June 6 showed an uptick for both categories, with commodities seeing a more significant growth rate at 5.5% versus 1.5% for securities.
• The commodities, Bitcoin and Ethereum, make up approximately 90% of the total crypto market capitalization – this trend is expected to continue.

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