As Bitcoin sees a 20% drop from its highest point this year, it’s crucial to look at the bigger picture. A chart that shows the tokens involved in the Coinbase and Binance legal cases on June 6 and June 5, 2023, along with their Bitcoin prices.
Both exchanges are currently in legal battles, questioning whether their listed crypto assets should be treated as securities by the SEC. Notable tokens like Alogrand, Solana, Cardano, Near, and Filecoin are under scrutiny.
Since the FTX collapse in November 2023, Bitcoin has surged by 140%, with Solana and ICP outperforming it in BTC terms, while other potential securities declined against Bitcoin by -41% to -80%.
At the current moment, Bitcoin has experienced a partial pullback but remains 47% higher since the C&B suits. Outperforming Bitcoin, Solana, and ICP recorded gains of 169% and 49%, while Near Protocol also showed an 8% increase compared to Bitcoin.
Interestingly, against the dollar, Solana, ICP, and Near exhibited gains of 286%, 265%, and 145%, respectively. Despite Dash being the biggest loser against Bitcoin, it still saw a 4% increase, and Cardano gained 87% against the dollar.
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