Turn Crypto Volatility Into Profit: 5 Best Cryptos to Buy Now!
• The crypto market has experienced a downturn recently, with Bitcoin and Ethereum dropping by 5.09% and 6.39% respectively over the previous candle close.
• SEC recently charged Kraken cryptocurrency exchange for failing to register its digital asset staking-as-a-service program.
• Several cryptocurrencies that have potential to deliver favorable returns include MEMAG, RPL, FGHT, LDO, and CCHG.
Crypto Market Downturn
The crypto market has seen a decline in prices as of late, with Bitcoin and Ethereum dropping by 5.09% and 6.39% respectively on the previous candle close. The total crypto market capitalization has also decreased significantly, currently standing at around $1 trillion – down 1.2% over the past 24 hours.
SEC Charges Kraken Exchange
Following this downward trend in the market, the SEC recently charged the Kraken cryptocurrency exchange for failing to register its digital asset staking-as-a-service program. In response to this action taken by the regulatory body, Kraken agreed to halt its crypto staking services and pay a $30 million fine. SEC Chairman Gary Gensler subsequently highlighted the need for crypto intermediaries to comply with proper securities laws when offering investment contracts in exchange for tokens.
Criticism of SEC Action
The move by the SEC towards more stringent regulations was met with criticism from both members of the crypto community and some legislators such as United States House Majority Whip Tom Emmer who argued that preventing US citizens from accessing offshore staking services harms everyday Americans who are left out of these opportunities offshore.
Best Cryptos to Buy Today
Given that investing in volatile markets can be difficult during periods such as this one characterized by market corrections and consolidation; investors should consider tokens that exhibit strong fundamentals and/or technical analysis when deciding which ones to purchase today such as MEMAG, RPL, FGHT, LDO, or CCHG among others .
Investing cautiously is key during times of uncertainty like this one; thus it is important to focus on cryptos exhibiting strong fundamentals or technical analysis before making any decisions regarding which ones are best suited for your portfolio