Over the past 24 hours, major cryptocurrencies such as dogecoin (DOGE) and solana (SOL) have dropped as much as 5.5 percent, while ether (ETH) has lost 3.7 percent.
However, tron (TRX) and toncoin (TON) were the only coins to see slight gains of over 1%, although there was no immediate effect.
Bitcoin (BTC) slumped below $26,000, erasing all gains from the week, as the US Securities and Exchange Commission (SEC) delayed major ETF decisions expected on Friday, dampening traders’ hopes for a long-term recovery.
Over the past 24 hours, major cryptocurrencies such as dogecoin (DOGE) and solana (SOL) have dropped as much as 5.5 percent, while ether (ETH) has lost 3.7 percent. On the other hand, bitcoin cash (BCH) fell 7.7 percent.
However, tron (TRX) and toncoin (TON) were the only coins to see slight gains of over 1%, although there was no immediate effect.
The rush to sell assets towards the weekend came with the SEC’s announcement Thursday evening that it would not make a decision until October on all spot bitcoin exchange-traded fund (ETF) applications. These applications included applicants such as BlackRock, WisdomTree, Invesco Galaxy, Wise Origin, VanEck, Bitwise, and Valkyrie Digital Assets, who applied earlier this year.
The decision comes after the SEC’s Grayscale Bitcoin Trust (GBTC) issuer on Tuesday “nullified” a proposal to convert it into an exchange-traded fund.
