As these lawsuits progress, this claim that will be put to the test in the US courts and if these cryptocurrencies are deemed as securities then crypto firms offering them to US citizens could face significantly higher levels of regulation.
As a result, all of these coins dropped in the region of 20-30% last week, with much off the losses coming all at once over the weekend as a major whale unloaded holdings.
But meme coins have been one sector of the altcoin space that hasn’t been hurt as badly, thanks to the reduced risk of securities classification.
Here are three coins that could soon explode.
Wall Street Memes is one of the internet’s hottest retail investing communities that previously rose to prominence in the meme stock craze of 2021, but has recently been expanding its relevance within the cryptocurrency space with a new presale of its associated $WSM token.
The presale, which has raised more than $6 million under two weeks, has already surpassed 2021’s highly successful mint of the Wall Street Bulls 10,000 piece NFT collection, which famously made $2.5 million and sold out in 32 minutes.