$ADA$ a security now?

The last 48 hours have been a dizzying spectacle of dives and climbs, as crypto markets take the SEC's stern lecture on the chin and rebound with the kind of spirit one might expect from a ragtag bunch of digital mavericks. Markets now find themselves in a tranquil holding pattern, as traders scratch their heads and ponder the fallout from these impending lawsuits. Yet, it's heartening to see that, rather than implode, the crypto universe has weathered the storm, signalling an evolving maturity.

In the unfolding drama, the SEC has pointed an accusatory finger at a star-studded cast of digital assets, including Solana (SOL), Cardano (ADA), Polygon (MATIC), and Filecoin (FIL), that are now, apparently, considered to be securities. As a result, their prices have taken a nosedive, careening into the abyss.