Here is what happened yesterday in the crypto market:
Bitcoin Faces New Pressure from Inflation Data
Recent inflation data may bring volatility to Bitcoin prices as demand starts to increase. Investors should keep an eye on these developments.
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SEC Signals Reduced Oversight on Memecoins
SEC Commissioner Hester Peirce stated that many memecoins might fall outside of the SEC’s jurisdiction, potentially leading to more freedom in this sector. This could impact how these coins are regulated and traded.
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ADA Rallies Post ETF Application
Cardano’s ADA token surged 11% following Grayscale’s application for a spot ADA ETF, indicating strong investor interest and bullish sentiment in the market.
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Binance Moves for Early Resolution with SEC
Binance and the SEC are seeking to pause ongoing legal proceedings for 60 days, which may pave the way for a potential resolution amidst the establishment of a new Crypto Task Force.
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Surging Demand for USDC
Circle’s USDC has reached a record market cap of over $56 billion, indicating a growing demand for stablecoins and resuming bullish signals in the cryptocurrency market despite overall declining token prices.
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