Mikhail
@sleepymishka
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In 2024, the US Securities and Exchange Commission (SEC) continued enforcement actions against crypto companies. According to data for 2023, the American regulator initiated 46 enforcement actions related to cryptocurrencies. Compared to 2022, this figure has increased by 53%, according to a report by the analytics company Cornerstone. The trend of increased attention to the crypto market from the SEC is expected to continue in 2024.
At the end of August, the head of the NFT marketplace OpenSea, Devin Finzer, announced that the company received a notice of investigation from the SEC, in which the agency threatens to sue it. The SEC, as in the case of other crypto platforms, equates NFT transactions with transactions in unregistered securities that violate US laws.
OpenSea is one of the first and largest platforms for trading NFT tokens. The notifications (the so-called Wells notice), one of which was received by the platform administrators 0 reply
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The price of the Toncoin (TON) cryptocurrency has fallen by about 20% after the arrest of Pavel Durov in France. Before the news, the TON price was at $6.8, as of 10:20 Moscow time on August 26, the coin is trading at $5.6, according to the OKX exchange.
Toncoin's capitalization has decreased by more than $2 billion. With a capitalization of $14.2 billion, the coin now ranks last in the top 10 largest cryptocurrencies in the Coinmarketcap rating, where it has been since the spring of 2024, when its rate began to actively grow.
According to analysts interviewed by RBC-Crypto, from a technical point of view, the nearest support levels on the TON price chart are $4.45 and $5.15, but further movement of the rate will depend one way or another on fundamental factors, namely, how the situation with Durov develops. According to AFP, Durov's detention has been extended. Below the designated marks there are several key levels to which the price may fall: $4.00 and $3.50. 0 reply
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Pump.Fun, a platform for creating memecoins on the Solana blockchain, has reached almost $95 million in total revenue in the eight months since January 2024. As of early July, that figure was $52.2 million, according to DeFiLlama.
However, the platform's "successes" do not apply to all the tokens created on Pump.Fun and its users. Over the entire period of operation, more than 1.82 million memecoins have been created using the service, according to the dashboard on Dune, and the percentage of tokens that have hit the exchanges is around 1.4%, according to Adam Cochran, a partner at Cinneamhain Ventures.
Even fewer coins have maintained a capitalization above $10 million - only 15 pieces. Only 41 tokens have a capitalization above $1 million, according to a cryptocurrency market analyst under the pseudonym Newton Einstein. 0 reply
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The Bitcoin Dominance Index, which measures the share of the main cryptocurrency relative to the rest of the market, has reached a three-year high of 55.9%. The last time such values were observed was in April 2021, according to Coinmarketcap.
The upward trend in Bitcoin's share has not stopped since the end of 2022 from a local minimum of 38%, while the minimum for the past six years was recorded at 32.5% in early 2018.
The Bitcoin Dominance Index, Bitcoin Market Share, or Bitcoin Dominance is the ratio of Bitcoin's market capitalization to the market capitalization of the entire crypto market. Among the factors that influence this metric are: changes in the Bitcoin price, altcoin valuations, the growth of stablecoin use, market conditions, and the emergence of new cryptocurrencies. 0 reply
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