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Hey there, BTC enthusiasts! ๐Ÿš€ Bitcoin's price has been pretty chill lately, hovering around $28K after some wild ups and downs last week. It even hit a 6-week high of $28,600 before dropping back down. ๐ŸŽข But don't worry, the bulls are keeping things steady, and BTC's market cap is still a whopping $545 billion! ๐Ÿ’ช As for altcoins, they're mostly seeing red with minor declines. ๐Ÿ“‰ Avalanche took the biggest hit, dropping 5.5%, but it's still trading above $10. On the bright side, Trust Wallet Token, RNDR, and BSV are this week's top performers, with gains of 27%, 17%, and 11%, respectively. ๐ŸŒŸ The total crypto market cap is just shy of $1.1 trillion, so let's see if it can break through that barrier soon! ๐Ÿคž Happy trading, everyone! ๐ŸŒ

Hey there, BTC enthusiasts! ๐Ÿš€ Bitcoin's price has been pretty chill lately, hovering around $28K after some wild ups and downs last week. It even hit a 6-week high of $28,600 before dropping back down. ๐ŸŽข But don't worry, the bulls are keeping things steady, and BTC's market cap is still a whopping $545 billion! ๐Ÿ’ช

As for altcoins, they're mostly seeing red with minor declines. ๐Ÿ“‰ Avalanche took the biggest hit, dropping 5.5%, but it's still trading above $10. On the bright side, Trust Wallet Token, RNDR, and BSV are this week's top performers, with gains of 27%, 17%, and 11%, respectively. ๐ŸŒŸ

The total crypto market cap is just shy of $1.1 trillion, so let's see if it can break through that barrier soon! ๐Ÿคž Happy trading, everyone! ๐ŸŒ

Disclaimer: Includes thrid-party opinions. No financial advice. May include sponsored content.ย See T&Cs.
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๐Ÿš€๐Ÿš€ Buckle up, BTC enthusiasts! Coinbase, a popular crypto exchange, witnessed a whopping Ethereum outflow of over 336,000 ETH, valued at more than $1 billion on June 12th. This is the fifth time in 2024 that over 150,000 ETH has been withdrawn in a single day! ๐Ÿคฏ Who's behind this massive fund transfer, you ask? ๐Ÿค” Well, it's still a mystery. But, according to CryptoQuant, these transactions ranging from $400 million to $1.1 billion are likely not the work of individual investors. We're probably looking at crypto whales or unidentified institutions here. ๐Ÿ‹ Now, here's the exciting part! ๐ŸŽ‰ If these aren't just internal shuffles within the exchange, it could hint at a super positive long-term outlook for ETH, the world's largest altcoin. Similar activities were noticed on Coinbase before the trading of spot Bitcoin ETFs began, suggesting that this $1.17 billion withdrawal could be influenced by anticipation of a rise in Ether prices with the introduction of spot Ethereum ETFs. ๐Ÿ“ˆ Speaking of Ethereum ETFs, they've been in the spotlight lately. ๐ŸŒŸ With the SEC's approval, ETH-based investment products saw a substantial rebound last week, attracting $200 million in inflows. A K33 report suggests that spot Ethereum ETFs could potentially bring in about $4 billion in inflows within the first five months of their launch. Wow! ๐Ÿ˜ฎ And here's the cherry on top: K33 also hinted that Ethereum might experience a similar boost as Bitcoin did when spot Bitcoin ETFs sparked a more than 60% rally in its price. So, Ethereum ETFs could potentially help the altcoin outperform Bitcoin. Stay tuned for more updates! ๐Ÿš€๐ŸŒ•
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๐Ÿš€๐Ÿš€Crypto enthusiasts, buckle up! Terraform Labs has agreed to cough up a whopping $4.47 billion to settle a lawsuit with the Securities and Exchange Commission (SEC). The SEC had accused Terraform and its co-founder, Do Kwon, of fraudulent activities related to the now-defunct Terra blockchain. ๐Ÿ’ฅ๐Ÿ’ฅ The SEC believes the hefty penalty reflects the "magnitude of this fraud" and will enable a "meaningful and speedy recovery" for the investors who lost billions. The settlement includes $3.6 billion in disgorgement, $466 million in prejudgment interest, and a $420 million civil penalty. Kwon himself has agreed to pay nearly all penalties, including $204 million that will go directly to the Terraform Labs bankruptcy estate to help the harmed investors. ๐Ÿ™Œ๐Ÿ™Œ The SEC had charged Terraform and Kwon with securities fraud in 2023, relating to the Terra blockchain's unstable design, which led to a mind-boggling $44 billion blowup across its LUNA and UST tokens. ๐Ÿ“‰๐Ÿ“‰ If accepted, this will be the largest settlement in a crypto fraud case to date, even surpassing Binance's $4.3 billion settlement with the Justice Department in November. However, some are doubtful that Terraform or Kwon actually have the funds to pay the charges. CryptoQuant CEO Ki Young Ju commented, "$4.47B cash-out is impossible, even with a $40B market cap." ๐Ÿค”๐Ÿค” So, while this is a significant development in the crypto world, it's a stark reminder for all BTC enthusiasts to tread carefully in the volatile crypto market. Stay tuned for more updates! ๐Ÿš€๐Ÿš€
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