June 16 (Cointime) - The SEC's increased regulatory scrutiny of the DeFi industry has led to a decrease in crypto trading volumes and put pressure on major cryptocurrencies. In Q2, trading volumes hit an annual low, with average daily volumes for the top ten tokens dropping to $10 billion from $18 billion in Q1. Bitcoin's individual token market share fell by 20% in Q2, while Ether's volume share increased by 5%.

Tether, the largest dollar-pegged stablecoin, also saw a drop in value, falling below its crucial $1 price. The decline in crypto prices is attributed to a combination of factors, including increased regulatory pressure, the Federal Reserve's plan to raise interest rates, and a lack of buyers in the market.

Additionally, the recent drop in Ether's price has resulted in leveraged long liquidations worth $54.95 million, causing a decline in open interest in Ethereum-linked contracts. Meanwhile, a Bitcoin whale transferred their 50 BTC stash, which they had not touched since mining them in June 2010, to another wallet. Despite Bitcoin's current price drop of 3.7% in the last 24 hours, its long-term hold strategy has proven to be a successful investment.