{"id":18440,"date":"2023-06-05T13:27:01","date_gmt":"2023-06-05T17:27:01","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/crypto-prices-crashing-after-sec-sues-binance-these-presales-still-pumping-heres-why\/"},"modified":"2023-06-05T13:27:03","modified_gmt":"2023-06-05T17:27:03","slug":"crypto-prices-crashing-after-sec-sues-binance-these-presales-still-pumping-heres-why","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=18440","title":{"rendered":"Crypto Prices crashing after SEC Sues Binance, These Presales Still Pumping \u2013 Here’s Why"},"content":{"rendered":"
\n

Cryptocurrency markets just experienced a big intraday drop in response to the US Securities and Exchange Commission (SEC) revealing that it has sued Binance, its US subsidiary Binance.US and the exchange\u2019s founder Changpeng Zhao (CZ).<\/p>\n

Bitcoin (BTC) was last trading close to 5% lower on the day in the $25,800 area, having just hit its lowest levels since March under $25,500.<\/p>\n

Ether (ETH), meanwhile, was last down close to 4% on the day and changing hands just above $1,800.<\/p>\n

The new SEC lawsuit, which is suing Binance, Binance.US and CZ on thirteen charges, accuses the exchange of offering unregistered securities to the general public, naming the BNB and BUSD tokens.<\/p>\n

\u201cThrough thirteen charges, we allege that Zhao and Binance entities engaged in an extensive web of deception, conflicts of interest, lack of disclosure, and calculated evasion of the law,\u201d SEC Chairman Gary Gensler said in a statement.<\/p>\n

The lawsuit also alleged that the a number of other coins offered by Binance to the general public are also unregistered securities, including Solana (SOL), Cardano (ADA), Algorand (ALGO), Coti (COTI), Cosmos (ATOM), Axie Infinity Shards (AXS), Filecoin (FIL), The Sandbox (SAND) and Decentraland (MANA).<\/p>\n

In the last 24 hours, BNB, ADA, SOL, MATIC and ATOM were all down between 6-9%, as per CoinGecko.<\/p>\n

SEC Adds to Cloud of Uncertainty Facing US Crypto Industry<\/strong><\/h2>\n

The latest enforcement action by the SEC against Binance adds to the cloud of uncertainty faced by the crypto industry in the US, the world\u2019s largest market.<\/p>\n

And the lawsuit comes after the US Commodity Futures Trading Commission (CFTC) announced a similar lawsuit against Binance, accusing the exchange of knowingly operating an unregistered digital commodities exchange and offering unregistered crypto derivatives products in the US.<\/p>\n

The key difference with the CFTC lawsuit, of course, is that the CFTC did not label numerous of the world\u2019s largest cryptocurrencies of being unregistered securities \u2013 rather, the CFTC lawsuit actually named many (including XRP) as digital commodities.<\/p>\n

Out of the top 20 cryptocurrencies by market capitalization, the SEC has now accused eight of being unregistered securities, including BNB, XRP, Cardano (ADA), Solana (SOL), Polygon (MATIC), Tron (TRX), Binance USD (BUSD) and Cosmos (ATOM).<\/p>\n

Crypto Downtrend Set to Continue<\/strong><\/h2>\n

The latest enforcement action by the SEC will likely ensure that the broad downtrend in crypto markets that has been in play since yearly highs were hit in mid-April remains in play, at least in the short run.<\/p>\n

Bitcoin has now decisively lost its grip on its 100-Day Moving Average (DMA) and will likely probe key long-term support in the low-$25,000s more in the coming days.<\/p>\n

A test of the 2023 uptrend is also a possibility, as is a possible retest of the 200DMA in the low $23,000s.<\/p>\n

With the cryptocurrency market\u2019s potential to deliver near-term gains capped amid regulatory uncertainty, investors eager to lock in short-term profit might want to consider looking at some low-cap crypto gems.<\/p>\n

Investing in low-cap crypto gems is a high-risk play and not for the faint-hearted, but it when done correctly, it is certainly the best way to generate quick exponential gains.<\/p>\n

The trick is to find a not yet widely known, but highly promising crypto project and get in early.<\/p>\n

Getting on an upstart crypto project\u2019s presale is often the best way to do this.<\/p>\n

Presales are where a crypto project sells its token to the public on the cheap in order to raise funds to build its platform.<\/p>\n

Analysts at Cryptonews.com spend a lot of time combing through the many presales out there.<\/p>\n

Here are three presales that they expect to keep pumping despite the broader uncertainty in the crypto market.<\/p>\n

Wall Street Memes (WSM)<\/strong><\/h2>\n

Wall Street Memes\u00a0is one of the internet\u2019s hottest retail investing communities that previously rose to prominence in the meme stock craze of 2021, but has recently been expanding its relevance within the cryptocurrency space with a new presale of its associated $WSM token.<\/p>\n

The presale, which has raised close to $4 million in only 10 days, is following in the footsteps of 2021\u2019s highly successful mint of the\u00a0Wall Street Bulls 10,000 piece NFT collection, which famously made $2.5 million and sold out in 32 minutes.<\/p>\n

<\/oembed><\/figure>\n

The success of the $WSM presale is hardly surprising, given the size of the Wall Street Memes community.<\/p>\n

Not only are there 523k hyper-engaged community members on its\u00a0wallstbets Instagram account, there are another 214k on Twitter and more than 100k across its two other\u00a0Instagram channels, wallstgonewild\u00a0and\u00a0wallstbullsnft.<\/p>\n

All told, Wall Street Memes has a 1 million-strong social community of degens, which analysts think all but guarantees that the $WSM token will be listed on tier 1 crypto exchanges like Binance.<\/p>\n

And in fitting with its focus on empowering the little guy, 100% of the token supply is for the Wall Street Memes community \u2013 there is no behind-the-scenes private sale and no team allocation largesse.<\/p>\n

50% of the token supply is available in the presale; 30% as community rewards; 10% for CEX liquidity and 10% for DEX liquidity.<\/p>\n

With 30% of the supply allocated to community rewards, it can reasonably be expected that airdrops to holders will be a big part of the ecosystem.<\/p>\n

Indeed, the first\u00a0$WSM airdrop\u00a0is open now.\u00a0Join the discord, connect socials, engage on socials, buy and trade $WSM to be eligible to receive the drop.<\/p>\n

To buy $WSM tokens you will need ETH, BNB or USDT (ERC-20 or BEP-20 versions accepted) in your crypto wallet. Simply connect at the website to make your purchase.<\/p>\n

Analysts\u00a0are already predicting 10x gains for Wall Street Memes when it lists on exchanges and you can be a part of it.<\/p>\n

Visit Wall Street Memes Here<\/strong><\/p>\n

Ecoterra (ECOTERRA)<\/strong><\/h2>\n

Ecoterra\u00a0(ECOTERRA) is the native cryptocurrency of a blockchain-run green ecosystem that incentivizes environmentally friendly behavior.<\/p>\n

As outlined in the\u00a0project\u2019s Whitepaper, the\u00a0award-winning<\/a>\u00a0project is building an all-in-one $ECOTERRA-powered web3 ecosystem, designed to encourage recycling via its first-of-its-kind Recycle-to-Earn (R2E) system, facilitate trade in recycled materials and encourage individuals and businesses to offset their carbon footprint.<\/p>\n

The green web3 start-up\u2019s R2E app is supported in any country that uses Reverse Vending Machines (RVMs), meaning a huge potential market.<\/p>\n

Nascent green web3 projects like\u00a0ecoterra\u00a0are expected to play an increasingly important role in global efforts to address climate change in the decades ahead as crypto\u2019s broader adoption increases.<\/p>\n

It\u2019s no wonder then that the crypto presale that\u00a0ecoterra\u00a0is currently running in order to fund the development of its platform has been a resounding success.<\/p>\n

Ecoterra is in the fourth stage of its ECOTERRA token presale, with tokens currently priced at just $0.00925.<\/p>\n

<\/oembed><\/figure>\n

The project just passed the massive milestone of having raised over $4.8 million.<\/p>\n

Visit ecoterra Here<\/strong><\/p>\n

yPredict (YPRED)<\/strong><\/h2>\n

A ground-breaking new AI-powered crypto trading and market intelligence platform called\u00a0yPredict\u00a0is building a first-of-its-kind, institutional-grade crypto price prediction system.<\/p>\n

<\/oembed><\/figure>\n

According to observers, the tool, which is powered by yPredict\u2019s in-house deep data analysis, will help crypto investors discover the next explosive crypto with ease.<\/p>\n

The best part, yPredict\u2019s crypto price prediction system will remain free and open for all users to access \u2013 the price predictions will be made publicly available and require no login to see, the project\u2019s\u00a0Whitepaper\u00a0explains.<\/p>\n

But yPredict offers investors much more than just crypto price predictions.<\/p>\n

The project is \u201cbuilding a cutting-edge crypto research and trading platform that provides traders and investors access to dozens of AI-powered signals, breakouts, pattern recognition, and social\/news sentiment features\u201d, the start-up says in its\u00a0Lite paper.<\/p>\n

The platform\u2019s technology was designed using state-of-art predictive models and data insights built by top 1% AI developers and quants.<\/p>\n

Meanwhile, \u201cthe ypredict.ai marketplace will enable experts to earn recurring revenue by offering their model predictions or data research as trading signals, which traders and investors can subscribe to\u201d.<\/p>\n

To fund the development of its revolutionary AI-powered crypto trading and market intelligence platform, yPredict is running a presale of the native $YPRED token that will powers its platform.<\/p>\n

The presale is absolutely flying and just hit the massive $2 million milestone.<\/p>\n

The project\u2019s presale is in its sixth stage, with $YPRED tokens selling for $0.09.<\/p>\n

However, there\u2019s still plenty of upside for new investors, as the token will list across major exchanges for $0.12 later this year, for paper gains of 33%.<\/p>\n

But the pace at which yPredict\u2019s $YPRED token continues to fly off the shelves means that investors need to be careful not to miss out before the presale sells out.<\/p>\n

yPredict has a presale hard cap of $6.5 million, which could be hit in a couple of weeks if the presale continues to gain pace like it has in recent days.<\/p>\n

The 33% gains that investors who get in now can secure could pale in comparison with the upside $YPRED could enjoy in the long run.<\/p>\n

Buy yPredict Here<\/strong><\/p>\n<\/p><\/div>\n