24 Hrs Crypto Update, June 09: Crypto Remain Steady Amidst Uncertainty
- On Friday, the cryptocurrency markets exhibited a combination of positive and negative trading patterns. Bitcoin, Ethereum, XRP, and Polygon gains, whereas, BNB, and Cardano experienced declines in their trading values
- In the past 24 hours, there has been a significant drop in the market value of several prominent cryptocurrencies, such as SOL, ADA, TRON, and MATIC
Over the past 24 hours, the cryptocurrency markets have
BENCHMARK
| Indices | LTP | Change (%) |
|---|---|---|
| BITCOIN | $26452 | 0.05% |
| ETHEREUM | $1840 | 0.10% |
CRYPTO STATS(24H)
| Indices | VALUE | Change (%) |
|---|---|---|
| MARKET CAP | $1.10 T | 4.30% |
| TRADING VOLUME | $35.80 B | 21.00% |
TOP 5 GAINERS
| Indices | LTP | Change (%) |
|---|---|---|
| FutureCoin | $0.24 | 497.26% |
| MobieCoin | $0.000035 | 151.34% |
| YOLOCash | $0.0018 | 93.14% |
| GoChain | $0.0081 | 42.75% |
| BitcoinZ | $0.000090 | 34.01% |
TOP 5 LOSERS
| Indices | LTP | Change (%) |
|---|---|---|
| TosDis | $0.20 | 92.55% |
| Unitrade | $0.0070 | 74.43% |
| dfohub | $0.00056 | 57.15% |
| Dypius | $0.085 | 49.09% |
| DoraFactory | $1.39 | 40.59% |
remained relatively stable. The crypto fear and greed index has maintained its position from yesterday, sitting squarely in the middle of the scale with 50 points. Despite ongoing concerns surrounding SEC lawsuits and the upcoming monetary policy decision by the Federal Reserve next week, BTC has managed to hold steady at around $26.5k.
Major Events Around the World
On Friday, the US Department of Justice announced that it had unsealed charges related to the 2011 hacking of the cryptocurrency exchange, Mt. Gox. The charges are also connected to the operation of another cryptocurrency exchange, BTC-e. This news comes at a time when the defunct crypto exchange has been making headlines due to the deadline for repayments to its creditors. The deadline for repayments has been extended until October 31, 2023. While the news of repayment was initially seen as positive, there is now speculation that the added Bitcoin could have a negative impact on the BTC price.
Recently, Robinhood, an American financial services company, announced that it would be discontinuing support for several cryptocurrencies on its platform. This decision comes in the wake of the U.S. Securities and Exchange Commission's (SEC) lawsuits against two of the top crypto exchanges, Binance and Coinbase. The affected tokens include Cardano (ADA), Polygon (MATIC), and Solana (SOL), all of which are among the top 10 coins in terms of market size. It is unclear at this time whether Robinhood will extend the delisting to other coins.
The Department of Justice (DOJ) announced on Friday that it has filed charges against two Russian nationals, Alexey Bilyuchenko and Aleksandr Verner, for their alleged involvement in the infamous hack of the now-defunct cryptocurrency exchange, Mt. Gox, as well as the operation of the illicit crypto exchange, BTC-e. These charges shed light on the extent of the criminal activities and their financial implications.
COIN GABBAR Views:Bitcoin, Binance, and the Impending Move by the Federal Reserve: Cryptocurrency remains resilient despite ongoing regulatory challenges. Binance.US temporarily suspends dollar deposits, while Robinhood delisted tokens in response to the SEC's crackdown on the crypto market. The US government sets its sights on Binance and Coinbase—does this signify a readiness to regulate the crypto industry? I would like to share my perspective on these matters. Stay tuned for updates and the latest news us at www.coingabbar.com
Disclaimer: Crypto is not regulated and can offer considerable risks. There may be no regulatory remedies available in the event of any losses resulting from price analysis. As a result, before engaging in any transactions involving crypto products, each investor must perform in-depth examination or seek independent advice.
