Investing in crypto certainly isn’t for the faint of heart. Between the meltdown of FTX and other exchanges, wild price swings, and constant news, it’s no wonder that millennials and Gen Z have gravitated toward an investment product which gives the same type of dopamine dump as Instagram and Snapchat.

The most ‘boring’ CryptoCurrency is also the original, Bitcoin. While the majority of crypto prices have moved together, the past month has seen a run toward perceived safety in the Crypto space.

Since June 7th, Bitcoin has gone from $25,690 to $30,417 (at time of writing), a 18.4% gain – and highest position in a year. Also the BTC volume chart at Blockchain.com shows the 3rd highest trading spikes in the last year. Why the influx?

The SEC  announced a lawsuit June 7th against two of the largest crypto exchanges, Coinbase and Binance. The SEC alleges that these two firms allowed investors to purchase currencies registered as securities illegally – including some of the most popular coins on the market. A full list follows. By labeling these coins as securities, investors fled the relative insecurity of these AltCoins for higher ground – although the SEC’s lawsuit against Ripple is going very poorly for them no one wants a protracted legal battle about the status of their investment. Gary Gensler, chairman of the SEC, has hinted that “everything except for Bitcoin” could be in his agenda to regulate.

For now, investors seem content to park their crypto in BTC rather than fleeing to Fiat assets like we saw throughout 2022’s Bear Market – while the broader crypto space waits eagerly to see how the SEC lawsuits play out.

In the SEC lawsuit against Binance, these tokens were listed as securities:

• Cosmos (ATOM)
• Binance Coin (BNB)
• Binance USD (BUSD)
• COTI (COTI)

In the SEC lawsuit against Coinbase, these cryptos were named securities:

• Chiliz (CHZ)
• Near (NEAR)
• Flow (FLOW)
• Internet Computer (ICP)
• Voyager Token (VGX)
• Dash (DASH)
• Nexo (NEXO)

These tokens are traded on both Binance and Coinbase, and also labeled as securities:

• Solana (SOL)
• Cardano (ADA)
• Polygon (MATIC)
• Filecoin (FIL)
• The Sandbox (SAND)
• Decentraland (MANA)
• Algorand (ALGO)
• Axie Infinity (AXS)