Glassnode released a report analyzing the behavior of investors after the SEC sued Binance and Coinbase. The report noted an increase in short-term holders depositing their balances onto exchanges. Binance experienced a significant decrease in Bitcoin, Ethereum, and stablecoin balances, while Coinbase saw smaller withdrawals in Bitcoin but larger withdrawals in Ethereum.

The report also found that larger entities were more affected by the news than smaller ones, and short-term holders accounted for the majority of recent BTC deposit volume. Finally, the crypto market as a whole experienced a decline after the SEC's lawsuits, with specific coins targeted by the agency's Coinbase filing experiencing heightened pain.