10 Cryptocurrencies to Get Affected by G20’s Potential Regulations

G20 summit's potential crypto regulations might lead to the downfall of cryptocurrencies

The crypto market is a wild industry. The lack of proper crypto regulations is one of the primary reasons why the digital asset domain has been in such disarray. However, investors have been quite opposed to introducing regulations or a proper functioning network in the market, and they have their reasons! Investors have been most attracted to cryptocurrencies due to their decentralized nature and the privacy that it offers. But probably, enough is enough for investors. The growing popularity of cryptocurrencies has also triggered several crimes in the financial and economic markets. To minimize or totally eradicate it, the officials from the G20, the EU, and the Portuguese government have been planning to formulate a crypto regulation framework to introduce stricter rules in the industry. The G20 crypto regulations will surely affect the dominance of several top cryptocurrencies. Experts believe that mostly the top 10 cryptocurrencies in the market will be affected by these new crypto regulations. Here, we have mentioned the top 10 cryptocurrencies that will be affected by G20's upcoming regulations.

Terra Classic

Terra Classic is expected to be one of the top cryptocurrencies that will be affected by emerging crypto regulations. Its predecessor Terra Luna triggered the downfall of the entire crypto market and investors still find it difficult to put their money into it. Besides, Terra Classic's founder Do Kwon is facing several allegations against him, so much so that Interpol generated a red alert against it! If crypto regulations tighten, it might be possible that investors will bail on LUNC before anything else

Bitcoin

Bitcoin is the flagship cryptocurrency and over the years, it has definitely earned the trust of thousands of crypto investors. BTC has experienced several ups and downs over the years, but the year 2022 appears to be its worst. Bitcoin has been integrated to make several mainstream payments, however, it is also used to make certain illegal payments that

Ethereum

 Ethereum is the second-largest cryptocurrency in the market. It just launched the ETH Merge upgrade which could not help the dire state of cryptocurrencies, instead, it made all the other cryptocurrencies more volatile. Currently, both Bitcoin and Ethereum have been given the same importance on the mainstream level, however, the upcoming regulations will surely end up causing harm to the new version of ETH.

Shiba Inu

 Shiba Inu is the second-largest meme coin in the crypto market. SHIB's recent entry into the metaverse is one of the major triggers that are attracting investors to it. The meme coin was one of the best-performing cryptocurrencies in 2021 and has been one of the top cryptocurrencies that Ethereum whales seem to be buying in bulk. But Shiba Inu is also quite volatile, and investors do not generally consider SHIB as a long-term investment prospect. Hence, incoming crypto regulations might continue to affect its value.

Dogecoin

 Quite similar to Shiba Inu, Dogecoin is also a meme coin that has been working on gaining dominance in the crypto market and is to be considered a long-term investment. However, crypto is definitely gaining momentum among investors, which is mainly due to Elon Musk's interest in developing Dogecoin. If the regulations trigger, Elon's love for Dogecoin might not affect investors, since they will be liable to comply with the regulations.

Solana

 Solana is entirely decentralized, which might make it a volatile investment asset, but at the same time provides investors with the much-needed privacy that they seek before they enter this decentralized market. However, Solana's dominance is already declining given its problematic outages in the network.

Apecoin

 Apecoin is a relatively new cryptocurrency and given the present condition of the crypto market, adding crypto regulations to it, investors would want to prefer to stay away from new cryptocurrencies. Besides, the rising number of scams in the NFT market is driving investors away from the APE token.

Decentraland

 Decentraland is a virtual reality platform that is decentralized, immersive, and built on the Ethereum blockchain. Its network basically combines exciting features such as entertainment, gaming, and e-commerce to entice individuals and businesses to invest in it. The MANA has garnered a lot of attention lately. The future of Decentraland seems bright and inviting, but its future prospects are still quite unclear.

XRP

 XRP has consistently stayed among the top 10 cryptocurrencies for quite a long time, despite its continuous trifle with the SEC. The token can be used to transfer assets on the Ripple network and can be used to buy, sell, and trade on crypto exchanges and across various paradigms. The idea behind creating Ripple is to attract more users to the crypto market, during increasing globalization. However, since it has managed to remain at the top for so long, it will surely get affected by

Stellar

Stellar is another volatile cryptocurrency that might soon lose its dominance over the crypto market. The Lumen is designed to become an open network for storing and moving money. It enables people to create, send, and trade digital money. It is designed to sell and trade digital currencies. However, Stellar might suffer like the rest of the cryptocurrencies after the integration of the crypto regulations.