Important Ripple v. SEC Update June 18th: Commission Takes a Hit
David Hirsh, Chief of the Crypto Asset and Cyber Unit at the SEC, recently resigned, denying rumors of joining a Solana-based marketplace.His departure comes as the SEC’s lawsuit against Ripple progresses, with the regulator recently lowering its proposed penalty to $102.6 million
Protocol Village: Polyhedra's Rolls Out 'D-Expander' for ZK Proof Efficiency, Performance
Polkadot's decentralized governance approved the Join-Accumulate Machine (JAM) protocol as the network's future architecture, according to the team: "JAM, a minimalist blockchain concept, will support secure rollup domain-specific chains and offer synchronous composability across services. To encourage development, Web3 Foundation launched the JAM Implementer’s Prize, a 10 million DOT fund (~$64.7M USD), for creating diverse JAM implementations.
The biggest cryptocurrencies fell during the European morning, extending the subdued mood after the Federal Reserve trimmed interest-rate cut expectations on Wednesday. Bitcoin and ether both fell by around 1% over 24 hours, CoinDesk Indices data show. Bitcoin dropped to just below $66,000 – near the low end of the $72,000-$65,000 range it's been trading in for the past month – and ether was quoted around $3,500.
The CoinDesk 20 Index (CD20), a measure of the broader crypto market, fell about 1.8%. Markets in many countries are closed for Islam's Eid al-Adha festival. Meme coins led declines, with SHIB losing 3.5% and DOGE dropping 1.7%.
U.S.-listed bitcoin miners reached a record market cap of $22.8 billion on June 15, JPMorgan said in a report. The bank noted that almost all the companies outperformed bitcoin in the first two weeks of June, with Core Scientific the best performer, adding 117%, and Argo Blockchain the worst, dropping 7%.
The world’s largest cryptocurrency fell 3% in the same period. Bitcoin mining stocks gained in the first half of the month as investors reacted positively to news of Core Scientific’s deal with artificial intelligence firm CoreWeave, the report said. Mining difficulty also extended its fall since April's reward halving.
The Financial Stability Board (FSB) said it will undertake further work on the challenges posed by stablecoins in emerging and developing economies. The decision was taken during a meeting in Toronto of the FSB's plenary, the sole decision-making body of the standard-setting and advisory organization, according to a Friday statement. The FSB has been one of the main architects of global crypto policy. Last year, along with the International Monetary Fund, it framed a joint policy paper on crypto, warning against implementing blanket bans to mitigate risks associated with the sector. At last week's meeting, FSB members discussed areas that "warrant further attention" in the industry.
PoliFi Tokens Down Double Digits on Claims DJT Token Has Trump's Backing
If reports about DJT are true, this would be the first time a presidential candidate from a major party created a cryptocurrency. That appears to be a big "if.
Dogecoin Bulls See $60M Liquidations in Biggest Hit Since 2021
Bullish bets on dogecoin (DOGE) futures saw $60 million in long trades liquidated, more than for bitcoin (BTC) futures. The liquidations occurred as DOGE prices dropped over 10%, reflecting broader market sell-offs and a bearish sentiment in the crypto market.
Dogecoin Bulls See $60M Liquidations in Biggest Hit Since 2021
Bullish bets on dogecoin (DOGE) futures saw $60 million in long trades liquidated, more than for bitcoin (BTC) futures. The liquidations occurred as DOGE prices dropped over 10%, reflecting broader market sell-offs and a bearish sentiment in the crypto market.
Why is XRP Up Today: Top Ripple Price Predictions to Watch
Ripple’s XRP defied negative market conditions, rising 1% in the past 24 hours and 3% over the week, outperforming BTC, ETH, and BNB.Analysts see potential for a significant XRP bull run, with some predicting prices between $0.75 and $20, supported by technical patterns and historical market performance.
Shiba Inu Burn Rate Skyrockets by 12,000% but SHIB Price Tanks
Shiba Inu’s burn rate surged over 12,000% in the past 24 hours, but the SHIB price is down 10% daily.The layer-2 scaling solution Shibarium saw a sharp increase in activity, indicating growing interest and community support.
The price has been forming a falling wedge pattern on the 4-hour timeframe. It recently tested the lower boundary of the pattern around the $65K zone.
A breakout above this well-known formation could initiate a rally toward higher prices and even a new all-time high. However, if it breaks down, the decline could be aggravated, and a flash crash toward $60K would be expected
DOT Crashes by 8% Weekly but is a Bear Trap Possible?
$DOT
Polkadot has seen a lack of demand and intensified selling activity, indicating a bearish sentiment in the market. A sudden breach below the crucial $6 support region has occurred, triggering a cascade of long liquidations and potentially leading to a sustained bearish trend unless it turns out to be a false breakout.