Filecoin is one of several DeFi projects the SEC is now trying to classify as a security. Although Filecoin has disputed this new classification, its value has dropped significantly in the last five days. VeChain is also struggling with price decreases as the project struggles to regain its momentum.
With both Filecoin and VeChain now on a downward spiral, investors are accumulating Tradecurve at record rates to capitalize on price increases.
Filecoin Crashes 15% Amid New SEC Classification
The SEC’s decision to list Filecoin as a security has been a devastating blow to the project, with Filecoin losing 15.61% of its value in the last five days. These allegations have been made as part of the SEC’s new lawsuit against Binance and Coinbase, though they have been challenged by Filecoin.
Filecoin itself contains over 3,500 storage provider systems in over 40 countries. Its utility token, FIL, plays a crucial role in this ecosystem and is used for gas fees, compensating storage providers, and assuring the reliability of data storage. It’s been used to manage over 1 billion transactions and is not a security, according to Protocol Labs.
As part of its reaction to the SEC, Filecoin emphasized the need for numerous Filecoins and noted that several politicians have stated that Filecoin is not a security in the past. However, given that its value has already dropped to $4.09, investors fear that additional Filecoin crashes could occur as the future of Filecoin becomes more uncertain.
VeChain Growth Is Stopped By The SEC
VeChain has also experienced significant price decreases as a result of the SEC. In the last five days, VeChain’s value has dropped by 13.40%, with VeChain trading at $0.01733 at the time of writing.
Before the SEC announcement, VeChain was on a steady increase, rising to $0.02 following the announcement of its new wallet, VeWorld. VeWorld is a self-custody wallet designed to make it easier for investors to access the VeChain ecosystem. While initially launched as a web only wallet, plans are in place to create an app and mobile version for ease of use.
This advancement would be great for the VeChain community, who would be able to manage their crypto portfolios, send and receive cryptocurrency, and more from a single wallet. However, much like Filecoin, the future of VeChain remains uncertain due to the threat of greater regulation.
Tradecurve Momentum Is At An All Time High
The threat of SEC regulation has caused many investors to remove their assets from centralized exchanges. 1.2 million Bitcoin have been moved out of Coinbase and Binance in the last week as investors look for alternatives with greater privacy.
This new demand has caused a spike in the number of investors buying Tradecurve, which could offer a solution to the market’s fastest-growing problem. As a decentralized hybrid exchange, Tradecurve lets investors trade anonymously.
Its platform offers traditional assets and cryptocurrency with 500:1 leverage and negative balance protection to keep investors safe.
Investors using Tradecurve can connect their own decentralized wallets to trade assets and will also have access to a plethora of educational tools to learn about trading and build their own trading strategies.
Tradecurve tokens, which will be used for discounts, staking, and more, have just hit a new all time high of $0.015 after stage two of the Tradecurve presale sold out. Now, with stage three already 60% sold out, investors anticipate another price increase within the next ten days.
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