DeFi Not affected by Tokens Being Classified as Securities by the SEC
Despite the continuous controversy, the value locked on decentralized finance (DeFi) applications running on blockchains of tokens claimed to be securities in the most recent filings made by the U.S. Securities and Exchange Commission (SEC) remained largely steady.
Despite declining prices, there hasn’t been a rapid influx of capital, which shows that market players are optimistic. On Wednesday, the price of BNB coin (BNB) as well as that of SOL from Solana, ADA from Cardano, MATIC from Polygon, and other tokens plunged to six-month lows.
DeFi avenues, as least as of Thursday, are unaffected. According to data, value locked on the Cardano, Solana, and BNB Chain networks declined by little over 5% during the course of the previous week, keeping pace with a general market downturn. The data suggest that these decreases were roughly 1% or less per month.
