🦎🚀 Are We Going Down? 📉

Thursday, June 15, 2023

Don't miss out on the juiciest news in the crypto space! Stay in the loop to ensure that you receive our latest newsletters, right in your inbox!

Local Top is in?

Bitcoin (BTC) price falls below $25,000 for the first time in three months.

The price of BTC plunged 4% after the Federal Reserve paused interest rate hikes but signaled further hikes later this year. This is further exacerbated with the recent regulatory pressure from lawmakers in the United States.

In today's news, we have the USDT depegging, Eigenlayer launching on Ethereum and a Trial update on SBF.

Effect Of The SEC's Lawsuit On Cryptocurrency Prices

The SEC's lawsuit against Binance and Coinbase alleging securities law violations caused significant drops in the prices of listed cryptocurrencies.

Some of the affected tokens include Binance Coin, Cardano, Solana, Polygon, and many more. The tokens named in the lawsuits experienced losses ranging from -5.8% to -35.0% between June 5 - 12.

24h Hot Searches Worldwide

Tether (-0.2%)
Polygon (-8.0%)
Trust Wallet (+7.0%)
Bitcoin (-3.8%)
ApeCoin (-5.4%)
Curve DAO (-8.3%)
USD Coin (+0.0%)

If a coin releases ALL of its supply, would it rise or drop in price? Watch this video where we explain how token unlocks work, and how it affects crypto prices.

Let's find out here!

Not again, USDT!

Traders become spooked as USDT (Tether) selling occurs on Curve and Uniswap amidst a drop in Bitcoin price.

USDT balances on Curve's popular 3pool, a stablecoin swapping pool made up of USDT, USDC, and DAI, rose to an alarming 72% early today, signaling that a traders had exchanged a large amount of USDT in favor of other stablecoins like USDC and DAI.

Coindesk

Composability of De-Fi

EigenLayer, a Re-staking protocol, launched on Ethereum today, enabling holders of liquid staking tokens to double down for additional yield.

Holders of liquid staking tokens like Lido staked ether (stETH) are able to stake their tokens through EigenLayer for extra rewards. However, this opens them up to risk of penalties through slashing.

The Block

Trial Update on Sam Bankman-Fried

The Department of Justice (DOJ) is willing to put a pause to pressing further charges on FTX founder Sam Bankman-Fried (SBF)

Out of the 13 charges from the Department of Justice, they are willing to forgo 5 additional charges to allow the trial for the first batch to proceed.

This puts him in a favorable position where SBF may only have to face the original charges brought against him at his US trial.

Decrypt

Trade and win NFT from WhiteBIT

The reward is almost in your pocket!

WhiteBIT giveaways 10 NFTs to its users. But it doesn't just throw them around, so you need to do the following:

Sign up for the WhiteBIT and confirm your identity;
Get a Polygon wallet;
Execute at least 1 order daily worth 5 WBT or more in the WBT pairs on the spot market. Trade for at least 15 days during the activity period;
Fill out the form.

Hurry to participate until the 30th of June and become one of the ten lucky winners. Moreover, since June NFT holders will get pleasant bonuses.

Let's go