From July 12, U.S. customers will no longer be able to open new positions in the tokens of Algorand (ALGO), Decentraland (MANA), Dash (DASH) and Polygon (MATIC), eToro announced on Monday. LedesmaLyllah reports in First Mover Americas.
. The day before the June 5 lawsuit, market depth was at $34 million, whereas on Monday, it had plunged to $7 million, said the report. The exchange also saw its U.S. market share drop to 4.8% from 20% in April. Binance global also witnessed a drop in market depth, dipping 7% since the start of June, said Kaiko.
Members of the U.K. digital asset space seem to largely support a proposal by the country’s financial watchdog to move companies away from promoting crypto as an inflation hedge. The popular argument that limited-supply cryptocurrencies like bitcoin can hold firm against rising price levels may be theoretically sound, but due to a lack of data combined with the volatility of crypto assets, it can also mislead investors, industry observers told CoinDesk. Issued last Thursday, the FCA’s
. include a ban on free non-fungible tokens giveaways and airdrops. In guidance accompanying the rules, the regulator issued guidance for stablecoin issuers, saying firms should be able to “demonstrate claims of stability or links to a fiat currency.”Activity cooled in May with total volume across 18 centralized exchanges falling to lowest since 2020.
"The summer months tend to have lower activity and volatility, and unless there is another large market event, we can expect similar trends," Paris-based crypto data provider Kaiko noted.
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