With the bad news from the U.S. coin market, the center of capital, spreading globally, an emergency has been declared in the virtual asset ecosystem, which faced a 'Black Saturday.' Major altcoins are facing the threat of delisting, and investors are concerned about the impending backlash.

The biggest shock is the strong sanctions imposed by the U.S. Securities and Exchange Commission (SEC). The SEC recently sued major exchanges such as Binance and Coinbase, and also designated 19 coins, including ADA, ALGO, ATOM, AXS, BNB, BUSD, CHZ, CLOW, SOL, COTI, DASH, FIL, ICP, MATIC, MANA, NEAR, NEXO, SAND, and VGX, as 'securities.' As a result, the virtual asset market is literally swept up in 'FUD (Fear, Uncertainty, and Doubt).'

The SEC's actions delivered an immediate blow to the overall market. An unprecedented situation occurred where 'Binance US' halted U.S. dollar (USD) trading, and major coin prices plummeted in both spot and futures markets, shifting to a short (short-selling) trend. Furthermore, with the variable of the direction of U.S. interest rates still remaining, the movements of U.S. financial authorities are adding to the sense of contraction not only in the investment sentiment of exchanges but also across the global market.

The market's turmoil is also clearly evident in the price of Bitcoin, the bellwether of virtual assets. Bitcoin, which had soared to the 40 million won level per coin in April, fell to around 34 million won per coin in the Korean won market of domestic virtual asset exchanges as of the afternoon of the 12th. While the bellwether is faltering, some altcoins are showing upward graphs, further intensifying market volatility.

Amid an atmosphere reminiscent of a recurring 'Crypto Winter' that many believed had ended, expectations for a recovery in market 'momentum' are also declining. Investors must calmly keep the current market situation in mind, diversify their risks, and not be easily tempted by buy orders. Whether prices fall or rise, the market's 'blade' is bound to be sharp. This is a time when the wisdom to stand back and observe a little longer is needed in order to weather the temporary storm.

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