BTC falling or rising often makes news irrelevant, and today is no different. Despite the SOL ETF news, SOL Coin continues with a 3% drop today. Most altcoins are in the red because BTC sales continue. We haven’t seen the desired altcoin rise period yet. However, significant developments are happening that will affect prices in the medium and long term.
Altcoins Latest News
Just recently, we saw that the Coinbase exchange applied to the CFTC for five altcoins. They had done this before for DOGE and some other altcoins. Coinbase has now made a new application for five altcoins for which they want to offer futures products. According to the official application, LINK, AVAX, SHIB, XLM, and DOT Coin have applied for CFTC certification.
If approval is granted, Coinbase will offer futures products for these altcoins. More importantly, this approval somewhat certifies that these altcoins are commodities. Although prices don’t seem to care much for now, delayed pricing is likely to be seen when market sentiment improves.
