Over 50 cryptocurrencies worth over $100 billion in total and making up about 10% of the overall market, are now viewed by the SEC watchdog as securities, according to CCData.
Among major players, for example, solana , polygon and cardano have sunk between 23% and 32%.
Bitcoin and ether weren't named in the SEC's lawsuit, nor were stablecoins such as tether and USC Coin.
By contrast, bitcoin investors who have held their coins for more than five months appeared relatively calm and accounted for just 1.9% of deposit volume.
Investment products tracking altcoins have seen positive - albeit small - net inflows this year, in contrast to bitcoin and ether, Coinshares data showed on Monday.
Persons:
Vetle Lunde, Ryan Rasmussen, solana, Lucas Kiely, Alex Thorn, Noelle Acheson, James Butterfield, Lisa Mattackal, Medha Singh, Pravin
Organizations:
U.S, SEC, K33 Research, solana, Securities, Bitwise Asset Management, Reuters Global Markets, Cardano Foundation, Solana Foundation, Reuters, Polygon Labs, Reuters Graphics Reuters, USC, BTC, ETH, Firmwide Research, Galaxy Digital, Pravin Char, Thomson
Locations:
cardano, altcoins, Bengaluru