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Fake Selloffs, Repeated Rallies, BSC Matters and 20 Crypto Jokes

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Journalist

Sead Fadilpašić

Journalist

Sead Fadilpašić

About Author

Sead specializes in writing factual and informative articles to help the public navigate the ever-changing world of crypto. He has extensive experience in the blockchain industry, where he has served...

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Last updated:

June 25, 2023

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This eventful cryptoweek, Bitcoin and Ethereum fees dropped ahead of a fresh rally, while Arca said that BTC ‘fake selloff’ was driven by dealers with short inventory, BitPay said the share of BTC in their payments was the lowest last week as altcoins like DOGE have been gaining traction, and crypto pundits urged caution after another Elon Musk-fuelled DOGE rally. Yearn Finance expects treasury yield-farming to boost their revenue, and while Binance Chain is on ‘a parabola’, surpassing Ethereum in several metrics, BSC-based Uranium Finance got hacked. LUNA rallied after the news that Terra may be working on South Korean stablecoin-related plans with Busan, while Upbit capped crypto deposits to just under USD 450,000.

While Gemini, Mastercard and WebBank decided to give ‘real-time’ crypto rewards and Nexon spent some USD 100m on BTC, a task force tells Washington to ramp up the crypto exchange regulation, the Argentinian central bank asked the commercial banks to hand over data on crypto transactions, the new Governor of Turkey’s central bank said he wouldn’t seek to carry out a total crypto ban, and the South Korean government saw a furious backlash from 20-39-year-olds over its proposed crypto crackdown. Speaking of which, South Korean commercial banks should say “thank you, crypto”. PayPal CEO said central banks will need to rethink their monetary policies in the next decade and Tesla’s CFO said BTC has “long-term” worth. In the meantime, a new Carbonbase-WWF collaboration uses NFTs to save animals, German developer who got rich off BTC backed the party that wants it traceable, and we reported on five ways in which Visa wants to work with crypto and CBDCs.