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Why is April 1st crucial for Dogecoin, Bitcoin Cash, and Litecoin?

By:
on Mar 28, 2024
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  • It might not be a fool’s day for the trio.
  • The altcoins face regulatory shifts, potentially attaining the "commodities" status.
  • That will potentially end the securities lawsuits that plague the crypto market.

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Dogecoin, Litecoin, and Bitcoin Cash attract attention ahead of April 1st, a vital day for the altcoins’ regulatory status.

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If the US Commodity Futures Trading Commission fails deny Coinbase’s derivative products application for DOGE, BCH, and LTC by April 1st, the regulator will have to classify the assets as commodities.

That will send the altcoins away from the SEC’s radar, reducing investor worry over the frequent securities lawsuits in the crypto market.

For instance, XRP has failed to unleash its full potential over the years due to the prolonged legal battle with SEC.

Also, some trading platforms delisted Cardano, MATIC, and Solana as the regulator sued Coinbase and Binance over securities law violations.

Dogecoin gained 5.20% over the past day to trade at $0.1982. Overcoming the resistance at $0.2 could propel the token to $0.3.

Further, IntoTheBlock data shows DOGE boasts more than 6 million addresses, confirming a solid user base and increased adoption for the original memecoin.

Litecoin changed hands at $95.66 at press time. It gained around 20% within the past seven days to surpass the hurdle at $90, welcoming bullish calls from analysts.

World of Charts stated that Litecoin breached a crucial resistance and might rally towards $400 in the upcoming sessions.

Bitcoin Cash harbored bullishness after a 9.55% 24-hour jump to $542. Analysts believe BCH will maintain the momentum and skyrocket to new highs amid Bitcoin halving-driven rallies.

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