Pump's Price Surges 18% After SEC Clarification on Digital Assets

The SEC's clarification on the classification of digital assets has sent shockwaves through the crypto market. According to the agency, tokens that are not securities are those where investors do not anticipate profits driven by managerial effort of founders.

This clarification has been particularly beneficial for PUMP, an altcoin that has seen a significant surge in price following the SEC's announcement.

The token rebounded from its $0.0038 slip and reclaimed the $0.004 level, eventually rallying to a daily high of $0.0046. At the time of writing, PUMP was trading at around $0.0045, up 18% on the daily charts.

The SEC's clarification has not only boosted PUMP's price but also attracted fresh capital flows into its network. According to DefiLlama, USD Inflows rose to $24 million, marking a notable reversal after dropping for four consecutive days.