POKKET: Crypto Market Update (June 22)
Bitcoin is holding up, relatively speaking, as the crypto takes a dump – trading $31750, -11%. ETH broke $2k level and is at $1875, -16%. Movers are DOCK -30%, STMX IOST -25%, POND FIS DODO PUNDIX -24%, and the rest follow with no one token up in the Pokket universe.
The FUD seems to have come from China, as the PBOC says institutions must not provide trading, clearing and settlement for crypto transactions.
Another catalyst for the selloff is blamed on Michael Saylor’s tweet yesterday on completing the purchase of $500M worth of BTC already, leaving doubt there are other whales hungry to buy in size.
Transaction fee revenue for Ethereum has naturally declined recently and is at the lowest levels in a year.
A new report by Elliptic says US regulators have hit the crypto industry with $2.5B in fines since 2009.
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