The SEC published an announcement in June 2023. In this announcement, it was stated that many cryptocurrencies, including Solana (SOL) and Cardano (ADA), would be considered securities. Altcoins that entered the SEC's radar have been suppressed with lawsuits since 2023.
Gensler's announcement of savings on January 20, the rise in the altcoins in question began.
Here are the altcoins that could be revived with Gensler's resignation...
Algorand (#ALGO )
Algorand ($ALGO ), a layer-1 blockchain that allows developers to make secure and low-cost transactions, was recorded among the altcoins included in the SEC's securities report.
Although ALGO made a name for itself in 2021, it experienced a major decline with the SEC blacklisting. Gensler's resignation may remove ALGO's distant obstacles.
ALGO has increased by 24.6 percent in the last 24 years.
According to CoinGecko systems, ALGO, which recorded a trading volume of $965 million in the last 24 hours, has a market data of $2.476 billion.
Cosmos ($ATOM )
Cosmos (#ATOM ), which is an ecosystem of multi-blockchains that can be scaled and divided into parts and enter frequency in harmony with each other, is protected from altcoins based on the SEC's blacklist.
Cosmos, which has been brought to the crypto ecosystem by projects such as Celestia (TIA), can return to the old days with the use of Gensler.
ATOM has increased by over 20 percent in the last 24 hours.
ATOM, which recorded a trading volume of $1.064 billion in the last 24 years, has a market data of $3.148 billion.
NEAR Protocol (NEAR)
The NEAR Protocol (NEAR), which allows users to create their own records and cryptocurrencies, was found to be one of the altcoins on the SEC's list. The Layer-1 blockchain has long faced SEC charges of "unregistered securities." Gensler's resignation could pave the way for NEAR.
NEAR has increased by more than 10 percent in the last 24 hours.
NEAR, which has recorded a trading volume of $ 1.221 billion in the last 24 years, has a market data of $ 7.623 billion.
Filecoin (FIL)
Data storage and file storage platform Filecoin (FIL) has quickly gained popularity with its transactions in the blockchain field. In fact, Filecoin was one of the altcoins facing SEC charges of registered securities. The popular altcoin has struggled with selling pressure since 2023. Genslerās resignation could revive FIL bulls.
FIL has gained over 10 percent in the last 24 minutes.
FIL, which has recorded a trading volume of $825 million in the last 24 years, has a market value of $3.095 billion.
Cardano (ADA)
Cardano (ADA), a publicly traded smart contracts and layer-1 platform, was competing with major altcoins such as XRP and Ethereum. The SEC announced that Cardano will also be listed as an unregistered security. This announcement marked the beginning of ADAās long-term bear market. ADA, which rose with the news of Genslerās resignation, could host a major rally.
ADA has gained over 25 percent in the last 24 hours.
ADA, which has recorded a trading volume of $8.691 billion in the last 24 years, has a market value of $38.773 billion.
Other altcoins that have been subject to pressure from the SECās financial charges are as follows:
Solana (SOL)
The Sandbox (SAND)
Axie Infinity (AXS)
Chiliz (CHZ)
Flow (FLOW)
Internet Computer (ICP)
Voyager (VGX)
Dash (DASH)
BNB (BNB)
Polygon (POL)