Why Avalanche, Terra Luna, and Uniswap Are Falling Off a Cliff Today

Decentralized finance tokens Avalanche (CRYPTO: AVAX), Terra Luna (CRYPTO: LUNA), and Uniswap (CRYPTO: UNI) are not having a good day. As of 10:24 a.m. EDT, they are down 15.25%, 16.47%, and 9.89%, respectively, in the past 24 hours. The three tokens are now trading at $61.60, $28.99, and $21.66 apiece. 

Regulatory scrutiny has been building for some time. Over the weekend, the Financial Stability Oversight Council has been weighing regulations on stablecoins -- which are commonly used by investors as decentralized exchange to buy and sell crypto. Last week, Gary Gensler, chairman of the Securities and Exchange Commission, claimed that most DeFi tokens and stablecoins on the market are trading as securities and thus require regulation.

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Source Fool.com