Although the SEC took official action against the world’s two largest exchanges, it also chose to name a number of cryptocurrencies that it describes as unregistered securities, triggering a drop across many altcoins. Two of them—Algorand (ALGO) and Flow (FLOW)—fell to all-time lows over the weekend.

Their inclusion in the SEC’s actions has called their regulatory status into question, along with many of crypto’s leading altcoins, like Polygon (MATIC), Solana (SOL), and Cardano (ADA), which have also seen significant declines.

On Saturday, Algorand and Flow traded hands at $0.098 and $0.459, respectively, according to CoinGecko. Both Algorand and Flow are down more than 60% from their respective $0.29 and $1.39 highs in February. Toppling more than 28% during a seven-day span, this week brought the lowest price in both coins’ histories.

The SEC’s lawsuit against Binance highlighted ALGO’s listing, and the agency’s lawsuit against Coinbase called to attention the availability of FLOW. Notably the organizations attached to each token aren’t named defendants in either lawsuit.

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Author: André Beganski

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