I personally do not know what will happen to the entire Crypto market, but it seems it's about to be heavily shaken up in the coming weeks.
Reddit is killing off all 3rd party apps within the next week or two. I expect a mass exodus of users there shortly after. Reddit is by far the most popular place to go for crypto news.
Binance is now being sued by the SEC. They are the #1 crypto exchange, and we all know how dirty CZ and Tether are.
The perfect storm is now coming for Crypto.
Let's see if any coins/platforms survive it. I know many here are dug into the sand on both sides, I think we are getting that answer soon on what will happen with Crypto, and it's potential role in the future.
I personally think a few will remain, but I can also see it going the other way too, it all goes POOF.
ETH is a literal security with how they launched if you go by the security definition. The SEC is corrupt, and have also ruled ETH as both a security and a commodity in the past.
No one has “ruled” anything. We have no regulational clarity on any of these coins. Thats part of the problem. They are unique assets that fit the definition of neither commodities or securities perfectly. The SEC throws around accusation of coins being securities wildly. But its certainly interesting they've stopped doing so with ETH all the sudden. Thats because they know who is using ETH. And they know they will lose the XRP case.