Crypto prices continue to tank, Celsius moves $320M worth of digital assets and other news

Recent moves by Celsius have fueled speculation in the crypto community as to whether the digital asset lending and staking platform is dealing with..

View this email in your browser A week in review: June 12–18 We've selected the hottest materials of the past week for you to stay up to date with the latest crypto news: #1. Celsius exodus: $320M in crypto sent to FTX, user withdrawals pause Recent moves by Celsius have fueled speculation in the crypto community as to whether the digital asset lending and staking platform is dealing with its rumored liquidity crisis. In addition to temporarily closing user withdrawals, Celsius has moved hundreds of millions of dollars worth of digital assets around different platforms, such as FTX, with no explanation given. A subsequent report stated that Celsius is recruiting legal consultation. Continue reading #2. Ethereum difficulty bomb delayed but network adoption still growing The difficulty bomb, a key piece of the puzzle in Ethereum's move to proof-of-stake (PoS), has been delayed. Put simply, the difficulty bomb makes mining on Ethereum's current proof-of-work (PoW) chain undesireable in order to push everyone over to the PoS chain. Anticipated to occur in August, the move to PoS is has been dubbed The Merge by Ethereum. Ethereum developers recently concluded a successful testnet merge, which simulated how the real Ethereum PoS chain would play out. Continue reading #3. 72 of the top 100 coins have fallen 90% or more: Here are the holdouts This week was a tough one for the crypto industry as prices across the board fell in dramatic fashion. Falling below the $1 trillion mark, the crypto industry's total market cap posted a 24% decline. From their all-time high prices, 72 of the largest 100 crypto assets by market cap have dropped over 90%. During this bear market, even market leaders Bitcoin and Ether have posted 70.3% and 78% losses, respectively, from their all-time highs. Continue reading #4. Prediction of the week. Bitcoin traders expect a 'long consolidation' phase now that BTC trades below $21K Bitcoin's price took a steep dive this week, falling from $28,000 to below $21,000, according to Cointelegraph's BTC price index. The cryptocurrency continued its freefall over the weekend, plunging below $19,000. Among the folks analyzing Bitcoin's price action was Twitter personality Rekt Capital. "If #BTC continues to hold the orange 200-week MA as support and the black 200-week EMA figures as resistance… $BTC could form an Accumulation Range here, just like in 2018," the analyst tweeted on June 15. "This would enable multi-month consolidation to even as far as December 2022." Continue reading #5. FUD of the week. Binance.US faces class-action lawsuit over LUNA and UST sale A California lawsuit against Binance's U.S. branch, Binance.US, has surfaced in the wake of the Terra ecosystem collapse. Among its claims, the suit alleges that LUNC (formerly LUNA) and its UST stablecoin are unregistered securities and that Binance.US does not have proper regulatory registration. Continue reading #6. FUD of the week. Elon Musk gets hit with 'ridiculous' $258B Dogecoin lawsuit A class-action lawsuit aims to squeeze $258 billion out of Elon Musk and two companies he heads, Tesla and SpaceX. The suit points a finger at Musk for allegedly harnessing his status to profit on Dogecoin, which the suit considers to be a pyramid scheme. Multiple digital asset industry figures have bashed the suit. Continue reading 3.5 million people follow us on social media Download our official app:

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