BNB, Arbitrum, and VC Spectra: Three Cryptocurrencies to Watch Out For in 2023

livemint.com:

>>BUY SPCT TOKENS NOW<< The United States Securities and Exchange Commission (SEC) has refused to appeal the court's decree regarding Grayscale's Bitcoin ETF application on October 13. Per the court's ruling, the security agency was mandated to reconsider its position on Grayscale's application for a spot Bitcoin ETF. James Seyffart, an ETF analyst at Bloomberg, opined that the SEC's refusal to appeal the case before the Supreme Court does not necessarily guarantee the approval of the application.

However, the watchdog must review the application as stipulated by the order of the Appeal Court in August. James added that the subsequent weeks will determine whether the SEC will approve Grayscale's application or not. In the event that the security agency refuses to render its approval, Grayscale may choose to submit another appeal, therefore prolonging the case even further.

Taking to X on October 13, James reaffirmed his position on the possibility of the SEC approving Grayscale's Bitcoin ETF application in January 2024. He estimated the chances at 90%. The delay in the application's approval has elicited uncertainty in the crypto industry.

Market data reveals the BNB coin price is struggling to reclaim $220 due to uncertainty gripping the crypto market. Essentially, BNB fell below $220 on August 27 and has since traded below that region. Sadly, all attempts to range above have proven futile for the BNB coin price.

A major factor dampening BNB's strength is the lawsuit between Binance and the SEC. As the legal war rages on, the impact remains evident on the BNB coin price. Moreover, the ongoing tussle between the SEC and Grayscale has cast a shadow over several crypto assets.