- The 2022 Ronin bridge hack set a record as the largest DeFi breach to date, resulting in the loss of more than $600 million.
- Norwegian authorities have successfully reclaimed $5.7 million of the looted assets from the Ronin hack.
- 85% of the retrieved funds will be channeled back into the Axie Infinity treasury, bolstering the game's resources.
- Norway has also frozen an additional $40 million in assets linked to the hack.
- A recent study by Merkle Science reveals a decline in smart contract breaches but a surge in private key thefts.
The breach of the Ronin Bridge, resulting in a staggering $624 million loss, will undoubtedly etch itself into history as the most significant hack between 2022 and 2024.
In the realm of decentralized finance (DeFi) breaches, the Ronin bridge hack stands unparalleled, overshadowing even the notorious 2021 Poly Bridge hack, which saw $611 million vanish due to an access control exploit.
Remarkably, despite the initial setback, the Ronin network has shown signs of recovery two years post-incident, with Norway successfully reclaiming and repatriating millions of the stolen funds, with more restitution efforts underway.
To provide context, the Ronin network hack transpired in March 2022, targeting the Ronin bridge integral to the popular web3 game, Axie Infinity. This breach, now infamous as the largest DeFi exploit to date, resulted in the illicit extraction of over $600 million, with the Lazarus group, a North Korean cybercrime syndicate, identified as the perpetrators.
Fast forward to the present, the Norwegian National Authority for Investigation and Prosecution of Economic and Environmental Crime (Økokrim) has orchestrated a commendable feat, managing to freeze and repatriate an impressive $5.7 million of the looted funds.
Supported by a coalition including the FBI, international security agencies, and blockchain security firms such as Chainalysis, Økokrim's efforts underscore the collaborative nature of combating cybercrime.
Sky Mavis, the development team behind Axie Infinity, has expressed gratitude for the outpouring of support and pledged to allocate approximately 85% of the recovered funds back into the Axie Infinity treasury to bolster the game's ecosystem. The remaining 15% will be earmarked for compensating victims of the hack.
Moreover, an additional $40 million in assets related to the breach has been frozen, though efforts for their recovery remain ongoing.
Reflecting on the broader implications, the Ronin bridge hack underscores the persistent threat of smart contract vulnerabilities prevalent during the 2021-2022 period. Despite strides in cybersecurity, the frequency of such breaches continues to highlight the need for robust private key management protocols.
While recent data from Merkle Science's HackHub indicates a decline in smart contract vulnerabilities, the rise in private key hacks emphasizes the necessity for enhanced security measures within the crypto industry.
As always, it's crucial to exercise diligence and conduct thorough research before engaging in cryptocurrency transactions, given the inherent volatility and risks associated with these financial assets.

#AxieInfinity #Crypto2024 #cryptocurrency #AXSUSDT
$AXS

- The Solana blockchain has witnessed a recent influx of memecoins, with a staggering number of nearly 500,000 new ones emerging just in May 2024.
- A developer within the Solana memecoin community, Mikol, inadvertently caused harm to himself during a live-streamed event where he attempted to garner attention for the $DARE memecoin by setting himself on fire.
- As a consequence of this stunt, Mikol sustained severe third-degree burns covering 30% of his body and is presently receiving medical care in a hospital.
- Despite the publicity generated by the incident, the value of the "Trust or Dare" memecoin has experienced a notable decline within the last 24 hours.
In the realm of memecoins, price movements often hinge on hype, with values soaring by astronomical margins within mere weeks or days, often propelled by real-world occurrences.
During the nascent phase of this trend, memecoins such as Dogecoin and Shiba Inu experienced staggering surges, driven by factors like Elon Musk's endorsement of Dogecoin and residual excitement from Dogecoin's popularity, compounded by the global impact of the Covid-19 pandemic.
Fast forward to the present, the landscape is inundated with a myriad of memecoins, predominantly hosted on the Solana network, where a deluge of new offerings emerges daily.
Recent insights from Binance reveal an astonishing figure: nearly half a million new cryptocurrencies surfaced on Solana in May alone.
However, the narrative took a drastic turn when a developer associated with a Solana-based memecoin called "Trust or Dare" took an ill-fated step, immersing himself in flammable liquid during a live stream to boost the coin's profile.
The developer's stunt went awry as the flames engulfed him, prompting frantic efforts from companions to extinguish the blaze and ultimately necessitating emergency medical intervention.
Despite sustaining severe burns, the developer, named Mikol, remains resolute in his dedication to the project, despite its failure to generate the desired buzz.
Yet, the DexScreener data paints a sobering picture: "Trust or Dare" memecoin plummeted by 64% in the past 24 hours, underscoring the volatility of hype-driven markets.
This incident underscores the frenzied atmosphere enveloping the memecoin sphere, reminiscent of the Ethereum craze witnessed between 2017 and 2022, now transposed onto the Solana blockchain.
However, this fervor is not without its detractors. Ethereum co-founder, Vitalik Buterin, has criticized the proliferation of celebrity-endorsed memecoins as frivolous and devoid of substance, advocating for a more judicious approach to innovation in the cryptocurrency realm.
Ultimately, the saga serves as a cautionary tale, highlighting the fine line between innovative marketing strategies and reckless behavior, underscoring the need for prudence amidst the allure of the memecoin craze.

#Solana⁩ #SOL/USDT. #memecoin🚀🚀🚀 #memecoins #Crypto2024
$SOL

- Telegram introduced a new in-app cryptocurrency called Stars.
- Users can utilize Stars to purchase digital goods within Telegram's mini-apps.
- This initiative aims to transform Telegram into a digital commerce hub for buying, selling, and swapping goods.
- Stars can be bought with fiat currency or converted to Toncoin on Fragment.
- Toncoin's value has surged in the past five years, with a 350% increase in the last year, currently at $7.5.
- A breakout from the $7.5 - $7.8 range could trigger a significant price increase for Toncoin.
In a bold strategic maneuver that merges the realms of cryptocurrency and social media, Telegram has unveiled the debut of its own in-app digital currency, christened 'Stars'. This announcement comes hot on the heels of Toncoin's meteoric rise, surpassing both Shiba Inu and Cardano to claim the 10th spot in terms of market capitalization.
Let's delve into the intricacies of this novel Stars cryptocurrency and its implications for both users and the crypto-centric ecosystem that Telegram is striving to construct.
The Emergence of 'Stars'
The revelation of Stars was relayed by Pavel Durov in a Telegram dispatch earlier this week. Durov characterizes this fresh cryptocurrency as an in-app tender, essentially serving as "a means of transacting for digital services within mini apps."
This latest development aligns with Telegram's broader vision to transform the social media platform into a hub for digital commerce. Consequently, users will gain the ability to engage in buying, selling, and bartering goods and services directly within the platform.
Furthermore, users have the option to procure Stars tokens through in-app purchases on both iOS and Android platforms or directly within the Telegram interface.
These tokens can then be expended on digital wares tailored for employment within Telegram mini apps, such as Notcoin and the increasingly popular Hamster Kombat.
Additionally, Telegram developers will have the capacity to convert their Stars earnings into Toncoin on The Open Network via Fragment, Telegram's username and ad marketplace.
Implications for $TON
Toncoin has exhibited remarkable price performance, registering a surge of approximately 2% within the past 24 hours and a notable 17% spike over the preceding week.
The upward trajectory of Toncoin becomes even more pronounced when considering its staggering 350% surge over the past year, outshining competitors like Shiba Inu, Avalanche, and Cardano.
In June 2023, Toncoin was trading at a modest $1.5, while in June 2022, it hovered around $0.9. However, as of the latest update, its value stands at roughly $7.5, indicative of robust organic growth.
Data from IntoTheBlock underscores that 100% of TON holders are currently in profit, with a significant portion having entered the market within the last year or less.
Furthermore, all indicators are flashing bullish, hinting at the possibility of substantial price surges in the coming weeks to months.
Technical analysis reveals that TON is currently encountering resistance within the $7.5 to $7.8 range. A breach beyond this resistance zone could catalyze another upward price surge.
Investors are advised to monitor developments closely, particularly within the $7.5 to $7.8 range.
Disclaimer: While Voice of Crypto endeavors to furnish accurate and timely information, it disclaims liability for any omissions or inaccuracies. Cryptocurrencies are inherently volatile assets; thus, individuals are urged to conduct thorough research and exercise prudence in their financial decisions.

#TON #Toncoin #Stars #Crypto2024 #cryptocurrency

- Floki's price surge surpasses other memecoins in both daily and weekly comparisons, reaching new highs.
- Currently, Floki's trading volume exceeds that of Dogecoin, Shiba Inu, and DogWifHat.
- The heightened trading activity on Floki reflects a rising interest from investors in the memecoin.
- Floki boasts the highest number of holders on the BNB Chain, outpacing both Dogecoin and Shiba Inu.
- The future trajectory of Floki remains uncertain; it's uncertain whether its momentum will sustain or if a correction is imminent.
As the crypto market landscape begins to shift towards green hues after a prolonged period of stagnation, the memecoin sector is also experiencing a resurgence.
Recent data from CoinMarketCap reveals a notable 6% uptick in the memecoin market over the past day, propelling its total capitalization beyond the $65 billion threshold. Among the standout performers are renowned memecoins like Dogecoin, marking a 3.49% increase, Shiba Inu surging by 10%, and DogWifHat also climbing by a commendable 10%. However, amidst this flurry of activity, it's Floki that's truly stealing the spotlight.
Floki, in particular, has witnessed a remarkable surge of around 24% within the last 24 hours, solidifying its position as the top-performing memecoin within the top 10. This bullish trend extends over the past week, where Floki has maintained a substantial 15% increase, outshining even the top 5 memecoins in terms of growth.
The current surge has propelled Floki's price to approach and potentially surpass its previous all-time high of $0.0003462, last reached in 2021. With a market capitalization now exceeding $3 billion and a significant surge in trading volume reaching an impressive $1.4 billion, Floki has surpassed the likes of Dogecoin, Shiba Inu, and DogWifHat in trading activity.
An illustrative chart from Santiment depicts the trading volumes of Shiba Inu, Dogecoin, and Floki, showcasing Floki's recent dominance in trading volume since May 26th. This notable shift indicates a growing investor interest in Floki, signaling further bullish sentiment in the days to come.
Moreover, Floki's emergence as the leading memecoin on the BNB Chain, boasting over 417,400 holders, adds another layer of validation to its growing prominence. This achievement, highlighted by the official Floki Inu account, underscores a shifting preference towards established memecoins over newer entrants.
Despite Floki's remarkable ascent, uncertainties loom regarding its sustainability and the possibility of a correction. Nevertheless, for the time being, Floki undeniably reigns as the premier memecoin, commanding attention and investor interest across the crypto sphere.
Disclaimer: While Voice of Crypto endeavors to provide accurate and timely information, readers are urged to conduct thorough research and exercise discretion before making any financial decisions. Cryptocurrencies inherently involve high volatility, and Voice of Crypto bears no responsibility for any discrepancies or misinformation presented.

#FLOKI✅ #SHİB #shibaInu #doge⚡ #altcoins
$DOGE $FLOKI $SHIB

- K33 Research predicts strong investment interest in Ethereum ETFs at launch.
- Expected inflows by K33 Research: $3.1 billion to $4.8 billion within 5 months.
- Balchunas forecasts lower inflows: $1.4 billion to $2.8 billion.
- K33 Research's optimism is based on Bitcoin ETFs' success, which have attracted around $14.8 billion.
- Despite varying figures, both K33 Research and Balchunas anticipate a highly positive response for Ethereum.
In late May, the U.S. approved several Ethereum ETFs, marking a significant milestone for the cryptocurrency market. However, the full impact of these new financial instruments is yet to be felt, as none of the eight approved applications have received the complete go-ahead for trading to commence. Despite this, K33 Research anticipates that these ETFs will have a massive impact upon launch.
This article will delve into K33 Research's projections for the Ethereum ETFs and their potential implications for Ethereum and the broader crypto market.
K33 Research's Outlook
According to data from Farside, spot Bitcoin ETFs are currently performing exceptionally well. On June 4, these ETFs experienced their second-best net inflow day, with a combined total of $886.6 million. Fidelity’s FBTC fund led the way with an inflow of $378.7 million, followed by BlackRock’s IBIT at $274.4 million, and Ark 21 Shares. These figures represent the highest net inflows since March 12, just before Bitcoin reached its all-time high of $73,800, when ETFs saw an inflow of $1.04 billion.
K33 Research suggests that a similar trend could be expected for Ethereum ETFs. Their prediction is based on the relative global assets under management (AUM) market share between Ethereum and Bitcoin. Currently, Ethereum's market share stands at around 28% of Bitcoin’s. Based on this ratio, K33 forecasts that Ethereum ETFs could attract approximately $4 billion in inflows within the first six months of their launch.
Correlation to Bitcoin ETFs
Farside data reveals that U.S. spot Bitcoin ETFs have accumulated around $14.8 billion so far, now holding over 1 million Bitcoin, which accounts for about 5% of the total Bitcoin supply. Drawing a parallel, K33 Research notes that institutional funds currently control 3.3% of Ethereum’s circulating supply. They predict that Ethereum ETFs will gather between $3.1 billion and $4.8 billion post-launch, translating to about 750,000 to 1 million ETH, or 0.65% to 0.85% of Ethereum's current supply.
Additionally, the Ethereum CME futures market, currently at 22.9% the size of Bitcoin’s, captured 34.6% of the inflows seen by Bitcoin futures ETFs between September 29 and December 26. This historical data provides further support for K33's optimistic outlook.
Bloomberg Analyst Eric Balchunas’ Perspective
Bloomberg ETF analyst Eric Balchunas has also shared his insights on the Ethereum ETFs. While K33 Research projects inflows of up to $4 billion, Balchunas is more conservative. In a recent tweet, he suggested that Ethereum ETFs might capture about 10% to 20% of the inflows seen by spot Bitcoin ETFs. This would still be significant, translating to around $1.4 billion to $2.8 billion in inflows.
Overall, regardless of differing estimates, analysts agree that the launch of Ethereum ETFs is a bullish event. The influx of capital into Ethereum could potentially drive its price higher, possibly even towards the $5,000 mark in the near future.
Disclaimer: Voice of Crypto aims to provide accurate and up-to-date information, but it is not responsible for any missing facts or inaccuracies. Cryptocurrencies are highly volatile financial assets, so please conduct your own research and make informed financial decisions.

#K33 #ETHETFS #EthereumETFs #ETH #Ethereum✅
$ETH

- The crypto market experienced a bullish surge in the last 24 hours, with the total market cap increasing by 3%.
- Bitcoin is spearheading the recovery. Breaking above the $71,515 resistance is essential for a potential retest of its previous all-time high.
- Ethereum's dominance is decreasing. Despite solid support at $3,720, Ethereum bulls need to gain momentum to stay competitive.
- Floki Inu has made a comeback over several weeks and needs to close above $0.000315 daily to confirm a bullish trend.
- Uniswap is recovering strongly, surpassing $9.3. Bulls are facing resistance at $11.89.
In the past 24 hours, the crypto market has shown significant bullish activity, with the total market capitalization increasing by 3%. Bitcoin, in particular, is making a notable effort to surpass the $71,000 mark, an event that hasn't occurred in weeks. The overall market heatmap reflects this positive trend, as nearly every cryptocurrency is trading in the green at present.
Bitcoin's dominance appears to be on the rise once again. Over the past day, almost every cryptocurrency has experienced gains, signaling a strong market-wide recovery. The heatmap of crypto liquidations from the past 24 hours mirrors the previous day’s data, with a crucial difference: today, the bears are bearing the brunt of losses.
In the last 24 hours, bulls have incurred losses of around $39 million due to liquidations, while bears have lost approximately $74 million, indicating a decisive bullish shift. From these observations, it's clear that bulls currently dominate the market, and Bitcoin seems poised to attempt reclaiming the $73,000 zone soon.
Bitcoin: Nearing a Crucial Breakthrough
Bitcoin's consolidation period, lasting over two months, is showing signs of ending. Initially trapped in a descending wedge for a month and a half, Bitcoin managed to break out in late May and has since been consolidating. Recent movements indicate a serious comeback, with Bitcoin rising more than 2% in the past 24 hours.
However, Bitcoin faces a key resistance level at $71,515, a high reached on May 20, before being pushed back down to the $66,000 zone. Surpassing this level is essential for Bitcoin to attempt retesting $73,800 and possibly setting a new all-time high this year.
Ethereum’s Stagnation
In contrast to Bitcoin’s resurgence, Ethereum has not mirrored this momentum. Ethereum's market dominance has decreased from 18% last week to around 17.33% currently, allowing Bitcoin's dominance to climb above 53%. Although Ethereum remains above its $3,720 support level, it has not participated in the recent rally. The cryptocurrency is stuck in a consolidation phase above $2,720, needing a bullish push to avoid being left behind.
Floki Inu Eyes New Highs
Floki Inu is on the verge of a new all-time high. After being rejected at the $0.000315 level on May 28 and experiencing a 25% decline, Floki has since rebounded. The cryptocurrency needs to close above $0.000315 with today’s daily candlestick to confirm a bullish breakout and convert this resistance into support. Investors should monitor today’s candlestick to gauge Floki’s future direction.
Uniswap's Strong Performance
Uniswap has shown impressive performance, rebounding strongly above the $9.3 price level. A significant candlestick from yesterday highlights substantial bullish activity. Currently, Uniswap is testing resistance at $11.89, where bears might attempt to halt further price increases. Investors should watch the $11.89 level closely; a break above could signal continued upward movement, while a rejection might lead to a retest of $9.3.
Disclaimer: Voice of Crypto strives to provide accurate and up-to-date information but is not responsible for any inaccuracies. Cryptocurrencies are highly volatile financial assets. Conduct thorough research and make informed financial decisions.

#UniSwap #bitcoin #ETH🔥🔥🔥🔥 #Ethereum✅ #btc70k
$UNI $BTC $ETH

- Data privacy issues with Worldcoin have prompted investigations and suspensions in Spain, Germany, and other countries.
- Worldcoin has agreed to halt all data collection in Spain until the end of 2024.
- Despite these challenges, Worldcoin's user base and transaction volume continue to grow.
- In the short term, Worldcoin's outlook appears bearish.
- However, due to user growth and potential technical breakouts, Worldcoin's price could potentially increase by at least 114%.
Since its official debut in 2023, Worldcoin has faced significant scrutiny from governments worldwide. This human identity project is currently under investigation by data protection authorities in Germany, Spain, Hong Kong, Kenya, India, and numerous other countries.
Let's explore the latest developments surrounding Worldcoin and assess whether its native cryptocurrency, $WLD , is truly on the brink of collapse.
The Spanish Data Watchdog’s Decision
One of the most notable legal challenges for Worldcoin has emerged from Spain. Recently, Worldcoin consented to suspend all operations within Spain until the end of the year. This decision could potentially set a precedent, as other nations may follow Spain's example.
The Spanish Agency for Data Protection (AEPD) announced this agreement in a press release, stating that Worldcoin is now prohibited from collecting, processing, or transmitting human data within Spanish borders. This suspension will remain in effect until the ongoing investigation reaches a conclusion.
Moreover, Worldcoin is also under scrutiny by the German data protection agency of Bavaria, the Bayerische Landesamt für Datenschutzaufsicht (BayLDA). The BayLDA is conducting an active investigation to ensure that Worldcoin complies with data protection regulations. Many European data regulatory bodies are closely monitoring Worldcoin, raising concerns about the project's long-term viability.
Worldcoin’s Response
In response to these regulatory challenges, Worldcoin has implemented several measures to address compliance issues. These include open-sourcing its biometric data system, deleting old iris scans, and allowing users to securely manage their data. Additionally, Worldcoin has introduced methods to verify the age of its users.
Despite these efforts, Worldcoin continues to face regulatory pressure, such as the recent directive from Hong Kong authorities to cease all operations involving face and iris scans.
Interestingly, despite these hurdles, Worldcoin has shown resilience. In April 2024, the project achieved an all-time high of approximately 10 million users and 70 million transactions.
Furthermore, Worldcoin has launched its own blockchain, the "World Chain," signaling a commitment to growth despite the regulatory challenges.
Is $WLD Finished?
According to CoinMarketCap, Worldcoin's value has increased by about 4% over the past day, though it remains bearish on weekly and monthly charts.
Worldcoin's price movements suggest a period of consolidation above an ascending trendline. The Relative Strength Index (RSI) indicates that the bulls may have a chance to counteract the bearish trends. A potential price surge could see Worldcoin's value increase by as much as 114%, potentially reaching the $12 mark.
Conclusion
Worldcoin is navigating a complex regulatory landscape but continues to demonstrate significant growth and resilience. While the future of WLD is uncertain, its current trajectory and user engagement indicate that it may not be finished yet.
Disclaimer
Voice of Crypto strives to provide accurate and timely information but is not responsible for any omissions or inaccuracies. Cryptocurrencies are highly volatile financial assets; please conduct your own research and make informed financial decisions.

#Wld #Worldcoin #Crypto2024 #cryptocurrency
$WLD

- Significant Ethereum withdrawals from exchanges suggest anticipation of price appreciation.
- The surge in Ethereum's value, possibly influenced by anticipation of ETF approvals, indicates investor optimism.
- Historical patterns suggest that withdrawals from exchanges signify positive sentiment and could drive a market upswing.
- Despite temporary price stability, bullish investors are actively supporting Ethereum at the $3,700 mark, hinting at potential price resilience.
The recent approval of eight spot Ethereum ETFs by the U.S. Securities and Exchange Commission has caused a stir in the crypto market, with significant shifts in Ethereum's price and investor behavior.
Just before the ETF approval on May 23, Ethereum experienced a remarkable surge of 30%, breaking through key resistance levels and reaching highs near $3,970.
Following this, Ethereum saw a slight decline, prompting a retest of the $3,700 zone. Surprisingly, instead of a bearish trend, investors responded by withdrawing billions of dollars worth of ETH from exchanges, signaling optimism for future price gains.
Analyst Ali Martinez highlighted this trend, noting that since the ETF approval, approximately 777,000 ETH (equivalent to $3 billion) has been removed from exchanges.
Typically, depositing crypto into exchanges suggests a bearish sentiment, while withdrawals signal bullish expectations. The significant decrease in exchange balances, as illustrated by Glassnode charts, aligns closely with Ethereum's recent price rallies.
Experts speculate that the approval of Ethereum ETFs will have a substantial impact on its price. This theory gains traction as Ethereum began its rally even before the ETF approval, coinciding with increased odds of approval by Bloomberg analysts.
During this period, Ethereum whales were observed purchasing large amounts of ETH, reinforcing the positive correlation between whale activity and Ethereum's price movements.
As of the latest data, Ethereum is trading around $3,754.12, with signs of bullish activity around the $3,700 support level. The substantial outflows from exchanges further bolster this bullish outlook, suggesting that Ethereum is unlikely to dip below this critical support.
Despite short-term fluctuations, Ethereum's Relative Strength Index (RSI) indicates a bullish momentum, potentially paving the way for another attempt at the $4,000 mark, provided the $3,700 support holds firm.
It's important to note the volatile nature of cryptocurrencies. While this information aims to provide insights, it's essential to conduct thorough research and exercise caution when making financial decisions.

#EthereumETFS #ETHETFS #EthereumETF #Crypto2024 #cryptocurrency
$ETH

- Analyst Michael van de Poppe predicts a strong performance for altcoins following Ethereum's outperformance of Bitcoin.
- Van de Poppe views Polkadot as undervalued despite its solid fundamentals and active ecosystem, forecasting a surge to $17.
- He believes Near Protocol is poised for a price rally and could potentially double if it surpasses a key resistance level.
- Despite a recent dip, Van de Poppe expects Woo Network to resume its upward trend, potentially reaching $0.7 or higher.
- Van de Poppe considers Renzo a good investment for new crypto users, predicting a possible rise to $0.24, especially if Dogecoin breaks out to $1.
Following the approval of eight Ethereum ETFs in the United States, analyst Michael van de Poppe has highlighted several noteworthy developments in the cryptocurrency market.
Van de Poppe pointed out that Ethereum has been outperforming Bitcoin by over 25%. As long as Ethereum remains above the 0.05 BTC mark, this upward trend is expected to persist. He predicts that Ethereum will continue to outshine Bitcoin for a while, potentially triggering a broader "altcoin season" in 2024, where other altcoins may also see significant gains.
In his recent analysis, van de Poppe has identified five specific altcoins that investors should watch closely in June.
1. Polkadot (DOT)
According to CoinMarketCap data, Polkadot has experienced a 5.93% decline over the past week and a 1.04% drop over the last month. Despite this, van de Poppe believes that Polkadot is "one of the blockchains that's heavily undervalued." He notes that, despite its focus on scalability and security and the success of projects like Centrifuge, Energy Web, and XCavate within its ecosystem, Polkadot is trading at just $7. He suggests that a small trigger could drive Polkadot’s price to rally up to $17 or higher.
2. Near Protocol (NEAR)
Near Protocol has similarly faced a downturn, with a 10% drop over the past week but a slight 2.5% increase over the past month. Van de Poppe argues that Near is on the cusp of a significant breakout and poised for a parabolic rally. He believes that if Near can break through the 12,200 NEAR/BTC level, it could potentially double in value within a few months.
3. Woo Network (WOO)
Woo Network has seen a 10% decline over the weekly timeframe, although it has gained 7% over the past month. Van de Poppe suggests that Woo is likely to continue trending upwards. He believes that if Woo surpasses the $0.40 price level, it could see a strong upside movement, potentially reaching $0.70 or higher.
4. Renzo (REZ)
Renzo appears more bullish compared to the other altcoins, with a 3.66% increase on the daily chart, an 11% rise over the past week, but a 6.7% decline over the past month. Van de Poppe sees Renzo as a promising investment for newcomers to the crypto market. He states that if Renzo maintains its position above the $0.14 level, it could achieve a higher low above $0.1376, with the next target being $0.24.
5. Dogecoin (DOGE)
Dogecoin has been struggling, showing a 5% decline over the past week and a 0.16% drop over the last month. Despite this, van de Poppe believes that predicting Dogecoin's movement is relatively straightforward. He expects a "massive breakout" in the coming months, potentially pushing Dogecoin's price to $1 in this cycle.
Disclaimer: Voice of Crypto strives to provide accurate and up-to-date information but does not assume responsibility for any missing facts or inaccuracies. Cryptocurrencies are highly volatile financial assets, and it is crucial to conduct your own research and make informed financial decisions.

#Dot #NEAR🔔 #WOO #DOGE #altcoins
$DOGE $NEAR $WOO

- The CFTC would regulate decentralized blockchains and cryptocurrencies.
- The SEC would oversee centralized cryptocurrencies.
- Cryptocurrencies with more than 20% held by a single entity or person would be classified as centralized.
- Crypto exchanges are under dual regulation to prevent conflicting laws.
- Stablecoins are excluded from the FIT-21 act and are expected to be governed by a separate act.
US Congress Approves FIT-21 Act
In a landmark decision, the US Congress has successfully passed the Financial Innovation and Technology Act for the 21st Century (FIT-21), aiming to position the United States as a leading hub for cryptocurrency innovation. The bipartisan bill, passed three days ago, reflects a collaborative effort across party lines to embrace the burgeoning crypto industry.
Anticipation is high that President Joe Biden will endorse the bill without vetoing it, despite earlier speculation suggesting a potential veto. This speculation remained unconfirmed, but the president's support is crucial for the bill's enactment.
Prominent congressional leaders, including Representative French Hill, Chairman of the Subcommittee on Digital Assets, have been vocal proponents of the bill. Their support underscores the significance of the legislation in resolving the regulatory ambiguities surrounding cryptocurrencies in the United States.
Key Provisions of the FIT-21 Act
The FIT-21 Act aims to clearly delineate regulatory responsibilities over digital assets like cryptocurrencies and blockchain technologies. Notably, it does not provide guidelines for the regulation of stablecoins or non-fungible tokens (NFTs).
Regulatory Power Distribution
The act seeks to allocate regulatory authority among US governmental bodies, ending the implicit competition between the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC). Previously, the CFTC regarded cryptocurrencies such as Bitcoin as commodities akin to gold, while the SEC viewed them as securities. This divergence created significant regulatory uncertainty, particularly regarding assets like Ethereum, which the SEC initially suggested as a security but later excluded from this classification in 2018.
Criteria for Decentralization
Under the FIT-21 Act, regulatory jurisdiction is divided based on the decentralization of a blockchain network. A blockchain is considered decentralized if no single entity or individual holds more than 20% of its token supply. This entity could be an individual, foundation, trust, LLC, or company.
CFTC Oversight
The CFTC is tasked with regulating decentralized blockchains in a manner similar to commodities. Cryptocurrencies like Bitcoin, Ethereum, and XRP fall under this category, with Bitcoin and Ethereum being recognized as decentralized and XRP having a judicial verdict affirming its status.
SEC Oversight
The SEC retains authority over non-decentralized blockchains and cryptocurrencies. This delineation follows significant legal precedents, including the statement by former SEC Director William Hinman that Bitcoin and Ethereum are not securities, and the Ripple vs. SEC case, which ruled that Ripple's retail sales did not qualify as securities under the Howey Test.
Joint Regulation
In certain scenarios, joint regulation by the SEC and CFTC is mandated, particularly concerning cryptocurrency exchanges that deal with both centralized and decentralized assets. This collaborative approach aims to harmonize regulatory frameworks and alleviate the burden of navigating dual regulations.
Exclusion of Stablecoins
The FIT-21 Act notably excludes stablecoins from CFTC and SEC regulation, except in cases of fraud or exchange involvement. Stablecoins continue to be regulated primarily by state laws, such as New York's Department of Financial Services, which recently directed Paxos to cease minting BUSD stablecoin. They are also partially governed by the Bank Secrecy Act.
The introduction of the Lummis-Gillibrand Payment Stablecoin Act represents a further legislative effort to regulate stablecoins, building on the earlier Responsible Financial Innovation Act by the same lawmakers.
Disclaimer
Voice of Crypto strives to provide accurate and timely information but cannot be held responsible for any omissions or inaccuracies. Cryptocurrencies are highly volatile financial instruments; therefore, thorough research and careful financial decision-making are advised.

#CFTC #SEC #cryptocurrrency #Crypto2024

- Over the weekend, whales acquired hundreds of millions of Dogecoin, indicating a renewed interest in the memecoin.
- Dogecoin faces competition from newer memecoins such as Shiba Inu and Pepe, yet overall investment in memecoins is on the rise.
- Crypto analysts like Michael van de Poppe and Ali predict an upcoming surge in Dogecoin's price, potentially reaching $1 or higher.
- Despite nearly identical exchange inflows and outflows of Dogecoin, a decrease in selling activity among investors contributes to a bullish sentiment.
- Dogecoin's price remains closely linked to Bitcoin's performance, necessitating that investors also monitor Bitcoin.
Dogecoin, a pioneering memecoin, has been the subject of numerous forecasts over the past two years. Dubbed the "memecoin king," Dogecoin has struggled to keep up with the market's rapid pace, particularly given the influx of new memecoins appearing almost daily.
Newcomers such as BONK, WIF, PEPE, and SHIB are vying for Dogecoin's top spot. If Dogecoin fails to make a significant move soon, it risks being overtaken in a phenomenon known as the “flippening.”
In recent developments, Dogecoin whales have been making notable moves since last week. This activity, combined with several on-chain metrics, raises the question: Is Dogecoin poised for a rally to $1 in this cycle?
DOGE Whales Accumulate Millions
Over the weekend, Dogecoin whales amassed a staggering 700 million $DOGE (approximately $110 million) in just three days, according to insights from renowned analyst Ali Martinez. This accumulation suggests a bullish outlook for Dogecoin, indicating renewed interest in this memecoin.
This surge in investment in Dogecoin coincides with a broader trend of memecoin investment across the crypto market. Shiba Inu, Pepe, and several other new projects have captured the spotlight. Singapore-based crypto trading firm QCP Capital highlighted this shift in its latest analysis, noting the growing focus on higher beta meme tokens like Shiba Inu, Dogecoin, and Pepe. These tokens have experienced significant gains, ranging from 10% to 20%, and are now among the top ten by open interest.
Whale Dominance
According to Martinez, these whales currently hold around 63% of Dogecoin's total supply, which speaks volumes about the memecoin's future potential.
Michael van de Poppe’s $1 Prediction
Shortly before Martinez's tweet, crypto expert Michael van de Poppe predicted a significant breakout for Dogecoin on Twitter. He suggested that Dogecoin might surge by around 566%, potentially reaching the much-anticipated $1 mark or higher. This prediction aligns with the $1 price target that analysts have frequently associated with Dogecoin, and investors are likely eagerly watching for signs of this bullish momentum.
Dogecoin's Correlation with Bitcoin
Data from IntoTheBlock reveals that Dogecoin has an exceptionally strong correlation with Bitcoin (86%). Traders should closely monitor this relationship as it may influence Dogecoin’s price movements.
Balanced Market Activity
IntoTheBlock data also indicates that Dogecoin has maintained a balanced flow between inflows and outflows from exchanges over the past week. Approximately $199.66 million flowed into DOGE, while $204.68 million flowed out. This balance suggests that while buying and selling activities are nearly equal, there is a slight preference for holding, as fewer people are willing to sell their Dogecoin and are withdrawing their coins from exchanges.
Rising Open Interest
Dogecoin's open interest has been on the rise. After a decline from around $2.21 billion on March 29, it is now climbing back up. As of June 3, open interest in Dogecoin is approximately $1 billion, compared to $700 million a month earlier, on May 2.
Future Prospects
In conclusion, Dogecoin appears primed for a rally, regardless of the timeline. When this rally occurs, analysts predict a straightforward path to the $1 mark or higher.
Disclaimer: Voice of Crypto aims to provide accurate and up-to-date information but will not be responsible for any missing facts or inaccuracies. Cryptocurrencies are highly volatile financial assets, so conduct your research and make your own financial decisions.

#Dogecoin #doge⚡ #Crypto2024 #cryptocurrency #altcoins
$DOGE

- Ripple moved a large amount of XRP (3 billion) from its escrow wallets to an unknown wallet.
- This transfer is three times more than Ripple's usual monthly escrow transfer.
- Despite the large movement, XRP's price remains stable.
- Some experts think the transfer is likely an internal shift within Ripple, not a sell-off.
- Analysis suggests XRP could experience a short-term price increase instead of a drop.
Potential Largest XRP Sell-Off in Years on the Horizon
According to the whale activity tracking service, Whale Alert, there has been a significant transfer involving approximately 3 billion XRP tokens, valued at around $1.5 billion, from Ripple’s escrow wallets into an unidentified wallet. This massive movement of tokens has raised alarms within the cryptocurrency community, with investors and traders keenly observing potential impacts on XRP’s market price.
Escrow Activities and Speculations
Ripple typically releases a predetermined amount of tokens from its escrow wallets at the beginning of each month. This amount generally totals around 1 billion XRP, a routine that has been maintained for quite some time. However, the asset movements observed for July deviate markedly from the norm, as the transferred amount is triple the usual figure, causing considerable unease among investors.
On June 1st, Ripple unlocked the standard 1 billion XRP, worth $520 million, via the XRP Ledger escrow system from two accounts labeled 'Ripple (24)' and 'Ripple (25)'. Suspicion arose when, in addition to the customary 200 million tokens sent to the treasury each month, another 200 million XRP from the dormant account 'Ripple (35)' was transferred to 'Ripple (1)'.
A crypto commentator and blockchain educator tracked these transactions, noting that a total of 3 billion XRP, equivalent to a significant 5.45% of the total circulating supply, moved within a single day.
Unlocking from Escrow: Internal Movements or Cause for Concern?
While this token movement deviates from Ripple's typical fund transfers, some commentators suggest that there may be little cause for alarm. They propose that many of these transactions are likely internal movements and escrow relock-ups. Despite the community's concerns, XRP's price has remained relatively stable following the $3 billion transfer and the supposed escrow releases, even though the cryptocurrency often experiences volatility during significant sell-offs.
XRP's Price Outlook
Currently, XRP is trading within an ascending wedge in the short to medium term. The cryptocurrency appears to be attempting a rebound from the base of this formation, potentially aiming for a minor 15% rally to the top of the wedge around $0.588. Overall, XRP’s bullish momentum seems to persist, with significant support expected at $0.48, below which the bullish sentiment may weaken.
Disclaimer: Voice of Crypto strives to provide accurate and current information but is not liable for any missing or incorrect details. Cryptocurrencies are highly volatile financial assets, so thorough research and informed financial decisions are essential.

#ripple #XRPPredictions #altcoins #altcoin #Crypto2024
$XRP

- Bitcoin remains stagnant, but several altcoins are showing bullish potential, including Axie Infinity (AXS), Wormhole (W), Celestia (TIA), ORDI, and The Sandbox (SAND).
- Axie Infinity (AXS) could potentially rally by 66.9% if it manages to break through the $8.38-$8.139 resistance range.
- Wormhole (W) is poised for a possible rally of 21% to 42%, contingent on surpassing the $0.64-$0.67 resistance level.
- Celestia (TIA) has the potential to reach $21, provided it maintains support above $10.36.
- The Sandbox (SAND) is primed for a significant upswing, potentially surging by 90% if bullish momentum is triggered this week.
Bitcoin has experienced another week in a consolidation phase, trading below the $69,000 - $70,000 range as bearish pressure attempts to push the cryptocurrency back to $65,000 or even $60,000.
In contrast, the situation for altcoins is different. Data from CoinMarketCap shows that despite the uncertainty surrounding Bitcoin, some altcoins have been performing exceptionally well, with more poised to follow.
This article highlights some of the major altcoins to watch this week based on their past performance and potential for bullish movement in the coming days.
1. Axie Infinity (AXS)
Axie Infinity has seen an impressive 8% increase over the last 24 hours, according to CoinMarketCap, and a 4% rally over the past week.
This difference in daily and weekly rally percentages indicates that Axie Infinity's upward movement is relatively recent, suggesting that investors are still early in this trend.
The price action of Axie Infinity shows that if the bulls can push the cryptocurrency above the $8.38 - $8.139 resistance range, it could enter a parabolic rally up to $13.5. This represents a potential 66.9% increase from current levels.
2. Wormhole (W)
Wormhole has experienced a significant 10% price increase over the last 24 hours, complemented by a 14% increase over the past week, indicating strong bullish momentum.
In the charts, Wormhole is attempting to break above the $0.64 - $0.67 resistance range. A successful break and close above this range could result in a further rally of 21% to the next resistance at $0.775, with potential to reach $0.915 if the bullish momentum continues.
3. Celestia (TIA)
Celestia has shown bullish behavior with a 6% rally on the daily timeframe and a more impressive 22% increase over the week.
The charts show that Celestia has broken above the $11 resistance and is consolidating post-breakout. As long as it remains above the previous higher low of $10.36, Celestia is primed for a medium-term rally to $21.
4. ORDI
ORDI has been very bullish over the last week, despite a minor 1% decline at the time of writing. The cryptocurrency is currently trading at $45.7 after an 18% rally, starting the week around $38.
The charts show that ORDI's decline is due to hitting resistance at $51.56. The bulls are likely to prevent further declines between the current levels and $42.44. Once the bears' momentum fades, the bulls are expected to push ORDI above the $51.56 resistance again.
5. The Sandbox (SAND)
SAND has risen by around 2.5% in the last 24 hours. While its daily or weekly movements aren't as bullish as the other cryptocurrencies on this list, SAND is poised for a potential breakout.
The charts show that SAND is trading on top of an ascending trendline, preparing for a significant move. If the bulls trigger this move, SAND could rally by around 90%, reaching highs of approximately $0.8292 or higher.
Disclaimer:
Voice of Crypto aims to provide accurate and up-to-date information but is not responsible for any missing facts or inaccuracies. Cryptocurrencies are highly volatile financial assets, so conduct thorough research and make your own financial decisions.

#AXS #W #TIA #ordi​​​ #SAND
$AXS $W $TIA

- Over $800 million in crypto tokens will be unlocked in June.
- Four specific cryptocurrencies could be impacted: Arbitrum (ARB), Aptos (APT), Starknet (STRK), and Optimism (OP).
- Past token unlocks for these projects had mixed outcomes without significant price drops.
- The release of these tokens could alter supply and demand, potentially influencing their prices.
As we step into a new month, June 2024 brings with it a wealth of fresh opportunities and strategies in the cryptocurrency market. Notably, this period is marked by an anticipated surge of token unlocks across various cryptocurrencies.
In the coming 30 days, the market will witness the release of over $800 million worth of tokens from multiple cryptocurrencies. Each of these unlock events presents its own unique set of risks and opportunities for investors.
This section will delve into four prominent cryptocurrencies undergoing significant token unlocks this month. We'll explore the quantities of tokens being released, their historical reactions to previous unlocks, and potential market movements this time around.
1. Arbitrum (ARB)
Arbitrum is set to unlock 92.65 million ARB tokens, valued at approximately $105.6 million, on June 16. These tokens will be allocated to the Arbitrum team and advisers. Historically, Arbitrum experienced a price rally of about 10% just before its last token unlock on May 21, 2024, when 497,000 ARB tokens were released. Currently, Arbitrum is trading around the $1.164 level, with potential for a rebound as long as it maintains this support level without closing below it.
2. Aptos (APT)
Aptos is scheduled for a token unlock on June 12, releasing 11.1 million APT tokens worth $102.6 million. These tokens are allocated among the Foundation ($12.1 million), Community ($29.1 million), Core Contributors ($35.9 million), and Investors ($25.5 million). The last Aptos unlock on May 12 released $11.31 million worth of APT tokens, leading to a minor dip followed by a recovery. Aptos' price could continue its upward trend unless this new unlock causes it to fall below the $8.86 support level.
3. Starknet (STRK)
Starknet will release 64 million STRK tokens, valued at $78 million, on June 15. These tokens are designated for early contributors. Starknet's previous unlock on May 15, 2024, had little impact on its price, likely due to its status as a newer entrant in the market and the fact that only 8.4% of its total supply has been released so far. Starknet appears to be a relatively safe entry point unless it breaks below the $1 level.
4. Optimism (OP)
Optimism is planning to unlock 31.34 million OP tokens, worth around $78 million, on June 29. The previous token unlock on May 31, 2024, had minimal impact on its price. Optimism remains an attractive investment, as long as it holds above the $2.45 support level, with potential to retest the $3 resistance before further gains.
Other notable unlocks this month include Galxe ($7 million), Ethena ($48 million), and Immutable X ($57.19 million). As these tokens are released, investors can expect shifts in supply and demand dynamics, influencing prices accordingly.
Disclaimer: Voice of Crypto strives to provide accurate and up-to-date information. However, it is not responsible for any missing facts or inaccuracies. Cryptocurrencies are highly volatile assets, so it is crucial to conduct thorough research and make informed financial decisions.

#ARB #APT #STRK #OP #altcoins
$ARB $APT $STRK

- Shiba Inu price surged 60% in the last three weeks but may face a correction soon.
- Over 4 trillion SHIB tokens moved to exchanges in the past two weeks, likely for selling, according to Ali.
- This movement suggests whales taking profits or investors selling to re-buy later.
- Shiba Inu is down 15% from its recent peak and must stay above $0.00002520 to prevent a larger decline.
- A drop below $0.00002520 could indicate a bearish trend, but Shiba Inu might still reach $0.00004950 in the long term.
Recent Developments in Shiba Inu’s Market Performance
Over the past fortnight, Shiba Inu (SHIB) has experienced a significant upward trend, rallying by an impressive 60% between April 13 and May 29. This bullish momentum, however, seems to be waning as investors appear to be cashing in on their profits.
Increased Exchange Activity Signals Potential Sell-Off
Insights from a notable analyst on Twitter (X) reveal a substantial movement of SHIB tokens into crypto exchanges, suggesting an impending sell-off. According to the analyst, Ali Martinez, approximately 4 trillion SHIB tokens have been transferred to exchanges over the last two weeks. This surge in on-chain activity, valued at around $103 million, indicates a potentially bearish outlook for the memecoin’s price.
Speculations and Market Reactions
The massive influx of Shiba Inu tokens into exchanges has triggered widespread speculation within the crypto community. The sheer volume—equivalent to $103 million at current prices—highlights the significant impact such a movement can have on market dynamics. This activity has raised questions about whether major holders, or "whales," are selling off their SHIB holdings, or if there are other factors at play.
Motivations Behind the Market Moves
While the sell-off is evident, there may be several reasons behind investors' actions. The most straightforward explanation is profit-taking following the recent rally. Investors might be cashing in their gains from the previous months' surge. Additionally, some traders may be looking to re-enter the market at a lower price point, anticipating future growth.
Despite the current downturn, there is still optimism among traders. Shiba Inu’s struggle to surpass the $0.000035 mark from its last bull cycle suggests that the current sell-off could be a strategic move within a broader bullish framework.
Current Price and Support Levels
As of now, Shiba Inu is trading at approximately $0.00002527, down 15% from its recent high of $0.00002945 during the April to May rally. The token is testing support along an ascending trendline near $0.00002520. It is crucial for Shiba Inu bulls to defend this support zone to prevent further declines.
A decisive daily or weekly candlestick close below $0.00002520 could signify a bearish turn. However, if the price holds above this level, Shiba Inu remains positioned for potential upward movement, with the possibility of testing the $0.00004950 mark in the future.
Conclusion and Disclaimer
In conclusion, while Shiba Inu’s recent surge has been impressive, the current sell-off indicates a period of profit-taking and potential market rectification. Investors should stay informed and vigilant, considering the inherent volatility of cryptocurrencies.
Disclaimer: Voice of Crypto strives to provide accurate and timely information. However, it does not take responsibility for any inaccuracies or missing information. Cryptocurrencies are highly volatile financial assets, so conduct your own research and make informed financial decisions.

#ShibaInu #SHIB #altcoins #Altcoin #Crypto2024
$SHIB

- The Howey Test defines a security as an investment in a common enterprise.
- The investor expects profits primarily from the efforts of others.
- This test determines whether an investment qualifies as a security under U.S. law.
- It is crucial in establishing the SEC's regulatory authority over financial instruments.
- Bitcoin and Ethereum do not meet the criteria of the Howey Test.
- These cryptocurrencies did not solicit money with promises of higher profits.
- Consequently, Bitcoin and Ethereum are not classified as securities.
- They fall outside the SEC's regulatory jurisdiction.
The approval of Bitcoin and Ethereum ETFs marked the culmination of a lengthy and arduous journey. Initially dismissed as mere technological curiosities, cryptocurrencies have now emerged as a significant asset class globally. However, this recognition was hard-won.
From the Ripple vs. SEC case to the FIT-21 Act, the crypto market has endured a protracted struggle to achieve official regulatory acceptance. Throughout these challenges, a pivotal set of rules established by the US Supreme Court played a crucial role.
The Howey Test, a framework of four criteria defined by the US Supreme Court in the landmark SEC vs. W.J. Howey Company case, was instrumental in determining that major cryptocurrencies such as Bitcoin, Ethereum, and Ripple are not securities. Consequently, the SEC had little choice but to approve the ETFs.
This article delves into the impact of the Howey Test on the approval of Bitcoin and Ethereum ETFs. Looking forward, this test is expected to facilitate further ETF approvals for cryptocurrencies like Solana, Dogecoin, and XRP.
Bitcoin and Ethereum ETFs Approved
The year 2024 will be remembered as a pivotal moment that solidified the legal foundation of the crypto markets. After nearly a decade of contention, regulators have finally recognized Bitcoin and Ethereum, the leaders of the crypto market.
The approval of Bitcoin and Ethereum ETFs not only heralds an era of favorable crypto regulation but also frees the crypto markets from the oppressive oversight of multiple global regulators.
What Does the Howey Test Say?
The Howey Test stipulates that for a financial instrument to be classified as a security (and thereby subject to SEC regulation), it must meet all four criteria:
1. Investment of Money
- For something to be deemed a security, it must involve an investment of money. The test specifies that this money must be received as an investment, not a transaction. Cryptocurrencies meet this criterion because they are purchased and can be stored similarly to other securities like stocks and bonds.
2. Expectation of Profits
- There must be an expectation of profits from the investment. This implies that individuals invest in crypto with the hope of receiving a higher return than their initial investment. The uncertain status of some centralized cryptos that promised returns created ambiguity. In the Ripple vs. SEC case, Judge Analisa Torres ruled that retail sales of Ripple's XRP did not constitute securities since there was no expectation of profits, thus classifying XRP as "not a security."
3. In a Common Enterprise
- The investment, made with the expectation of profits, must be in a common enterprise, such as a company, project, trust, or LLC.
4. From the Effort of Others
- The expected profits in a common enterprise must arise from the efforts of others. This criterion is met by most crypto projects since development is typically handled by the project team, while investors are passive participants.
How Were Bitcoin and Ethereum Classified as Not Securities?
Bitcoin and Ethereum were not initially seeking funds in exchange for profits. They were simply digital currencies at their inception, precluding them from being classified as securities. Satoshi Nakamoto described Bitcoin as "electronic cash," and Ethereum was developed as a faster alternative to Bitcoin.
The decentralized nature of both Bitcoin and Ethereum also played a crucial role. Neither is controlled by a single organization. Bitcoin is maintained by a core team of volunteers, but the community can replace this team if necessary, as evidenced by the existence of Bitcoin forks like Bitcoin Cash and Bitcoin SV. Similarly, Ethereum has seen forks such as Ethereum Classic and Ethereum PoW. These forks demonstrate the lack of a single, controlling enterprise, invalidating the second and third criteria of the Howey Test.
Critical Role Played by Howey Test in Ripple vs SEC Case
In the Ripple vs. SEC case, District Judge Analisa Torres determined that XRP's retail sales could not be considered securities due to the absence of profit solicitation. Thus, the second rule of the Howey Test did not apply to XRP's retail sales. This verdict significantly influenced the approval of Bitcoin ETFs, reinforcing the notion that Bitcoin could not be classified as a security, a stance supported by SEC Director William Hinman's statement that Bitcoin and Ethereum are not securities.
The FIT-21 Act and Ethereum ETFs
While the Ripple vs. SEC case clarified Bitcoin's non-security status, the FIT-21 Act was instrumental in confirming that Ethereum is not a security. The Financial Innovation Technology for the 21st Century (FIT-21) Act assigned regulatory responsibility for decentralized cryptocurrencies to the CFTC, effectively nullifying the SEC's claim as a crypto regulator. Despite the SEC's inclination to classify Ethereum as a security, the Howey Test's criteria and the FIT-21 Act expedited the approval process for Ethereum ETFs.
Conclusion
The Howey Test has played a pivotal role in shaping the regulatory landscape for cryptocurrencies, influencing major legal decisions and paving the way for ETF approvals. As the crypto market continues to evolve, the principles established by the Howey Test will likely remain central to future regulatory developments.
Disclaimer
Voice of Crypto aims to deliver accurate and up-to-date information, but it will not be responsible for any missing facts or inaccuracies. Cryptocurrencies are highly volatile financial assets; please conduct your own research and make informed financial decisions.

#EthereumETFs #EthereumETF #SEC #Crypto2024 #cryptocurrency
$BTC $ETH