Bitcoin and Altcoins Experience Price Increases After SEC Lawsuits Against Binance and Coinbase
June 17 (Cointime) - Bitcoin and Ethereum have both seen price increases over the past two days, with Bitcoin rising from under $25,000 to just under $27,000. This comes after a period of decline following the SEC's lawsuits against Binance and Coinbase. Other altcoins have also seen gains, with Solana experiencing the largest increase among the top 10. The crypto market cap has risen by over $60 billion in the past two days.
Solana's DeFi Performance Declines, NFTs and Social Engagement Offer Glimmer of Hope
Solana's DeFi performance has seen a decline due to falling volumes on the protocol's decentralized exchanges. However, there has been growth in the NFT sector and social engagement, while stakers remain optimistic. Despite a recent lawsuit filed by the SEC causing a decline in sentiment, there has been an increase in the number of addresses staking Solana, indicating continued confidence in the network's long-term potential. Solana's future growth may depend on its ability to make significant strides in the DeFi sector.
Glass Protocol Returns to Ethereum After Solana Transition
June 15 (Cointime) - Glass Protocol, a prominent player in decentralized media and video NFTs, has returned to Ethereum after previously switching to Solana in late 2022. The company is allowing artists to re-mint their NFTs on the Ethereum network at no cost, while collectors will have to pay to claim the new editions.
Debate on Hard Fork Possibility for Solana's SOL Token After SEC Classification as Security
June 15 (Cointime) - There is a debate on Crypto Twitter about the possibility of a hard fork following the SEC's classification of Solana's SOL token as a security. However, Solana developers have not yet given their opinion on the matter.
NFT Inspect Launches Twitter-Based NFT Tracking Tool
NFT Inspect, a premier NFT analytics platform, has launched a new Twitter-based PFP tool that allows users to track the movements of a given profile picture NFT as it travels around the social media platform. The application is available as a Chrome extension and a web client, providing information on static Ethereum, Polygon, and Solana NFTs currently circulating on Twitter.
Solana Community Considers Hard Fork to Protect SOL Token from SEC Lawsuit Fallout
The Solana community is considering a hard fork as a potential solution to protect the SOL token from the SEC's regulatory actions. The platform has faced challenges since being caught in the SEC's spotlight and experiencing the fallout from FTX's collapse.
Ironforge Raises $2.6M in Pre-Seed Round To Launch Serverless Solana Development Platform
Ironforge, a serverless Solana development platform, has raised $2.6 million in a pre-seed round led by Reciprocal Ventures, with participation from Hash3, 6th Man Ventures, Alchemy, Monoceros Ventures, and Portage Ventures.
Securities Services Firm Robinhood’s Net Accumulated Funding Accounts Hit $23.1 Million in May, Up 1.3% From a Year Ago, but Active Users Fell 27%
According to news released by LiveSquawk, the securities service company Robinhood’s net cumulative fund account reached 23.1 million US dollars in May, a year-on-year increase of 1.3%, but the number of active users fell by 27%. Previously, Robinhood will end support for Cardano (ADA), Polygon (MATIC) and Solana (SOL) at 6:59 GMT on June 28.
Solana Community Considers Forking to Avoid SEC Regulatory Issues
The Solana (SOL) token has experienced a significant drop in price, losing around 30% of its value in the last seven days. This is due to the US Securities and Exchange Commission (SEC) classifying SOL and other altcoins as securities in its lawsuits against Coinbase and Binance US.
SEC Lawsuit Triggers Major Decline in Blockchain Tokens
Over the past 24 hours, major blockchain tokens have experienced a significant drop of over 20%, following allegations by the SEC that 13 tokens are securities. Solana and Cardano saw the most significant losses, dropping up to 25% in a short period. Speculation suggests a major crypto fund may have offloaded its holdings during these illiquid market conditions.
