Today's cryptocurrency news highlights several key developments:
1-Market Downturn: The global cryptocurrency market has seen a significant drop, with the total market cap falling by 5.4% to $2.23 trillion. Major coins like Bitcoin, Ethereum, Solana, and Dogecoin have all experienced declines. Bitcoin is currently trading around $57,197 and Ethereum at $3,142 (cryptonews).
2-Ripple Lawsuit: The ongoing SEC lawsuit against Ripple Labs over XRP's classification as a security might reach a resolution this month, with two crucial dates emerging in July (dailycoin).
3-Binance and Shiba Inu: Rumors about Binance delisting Shiba Inu (SHIB) have been addressed by the SHIB team, confirming that these rumors are false. Despite this, SHIB has lost its spot in the top 10 cryptocurrencies, overtaken by Tron (DailyCoin).
4-New Developments in Tokenization: In Dubai, $500 million in real estate is set to be tokenized on the blockchain, thanks to a partnership between MAG and MANTRA (DailyCoin).
5-Bitcoin Mining: As Bitcoin mining becomes less profitable, smaller operators are shutting down while larger public miners are increasing their mining capacity by acquiring more machines (Cryptonews).
6-Regulatory News: The Biden administration has proposed a 30% tax on the electricity used by Bitcoin miners, which could have unintended consequences on the development of sustainable energy solutions (Cryptonews).
