CoinGecko, the cryptocurrency data aggregator, has introduced a new feature on its website that highlights the top 48 crypto assets classified as securities by the US Securities and Exchange Commission (SEC). These digital currencies have a combined market capitalization of over $91 billion, accounting for 7.5% of the total $1.21 trillion market cap. CoinGecko’s index tracks the performance of these leading cryptocurrencies labeled as securities by the SEC.
Among the tokens listed, Binance Coin (BNB) takes the top spot with a market cap exceeding $37 billion. It is followed by Cardano (ADA), Solana (SOL), Tron (TRX), and Polygon (MATIC). These five tokens alone represent over 75% of the total market capitalization of the 48 coins featured in the index.
The addition of this new feature by CoinGecko is a response to the recent legal actions taken by the SEC against major cryptocurrency exchanges Binance and Coinbase. The Commission filed lawsuits against these platforms in early June, accusing them of violating regulations and offering trading services with unregistered securities.
It is important to note that the 48 cryptocurrencies included in CoinGecko’s index do not encompass all the assets that the SEC has classified as securities over the years. Some notable tokens missing from the list are Locke (LOCKE), Beaxy Token (BXY), Ducat (DUCAT), and Paragon (PRG).
Interestingly, the largest cryptocurrency by market capitalization, Bitcoin (BTC), is not considered a security by the SEC. The Chairman of the SEC, Gary Gensler, has previously stated that Bitcoin could be treated as a commodity rather than a security.
CoinGecko’s new feature provides valuable insights into the tokens that have been classified as securities by the SEC. As regulatory scrutiny continues to shape the cryptocurrency industry, investors and market participants can use this information to make informed decisions and navigate the evolving landscape.