If you’ve been in a coma for the past week and woke up this morning (to immediately not greet loved ones and instead check your crypto portfolio) you’d be forgiven for thinking that yep, a US$26k Bitcoin seems about right.

Because that figure, where Bitcoin sat for, like, 10,000 lifetimes before this week, is about where the land lies again as this is typed.

And the reason for the sharp dip overnight (AEST), from the mid US$27k area? US Securities and Exchange Commission boss Gary Gensler knows the answer.

The SEC has, as you might know by now, shifted ALL spot Bitcoin ETF applications to the bottom of its in-tray to go with the ARK Invest one that was already there. And yep, that includes the big guns gunning for approval – BlackRock and Fidelity.

“Time to touch some grass,” reckons Bloomberg’s ETF expert Eric Balchunas.

 

Meanwhile, Uniswap dodges a legal bullet

Leading DEX (decentralised exchange) Uniswap (UNI) has dodged a class-action lawsuit, reports Cointelegraph, after a Southern District of New York judge dismissed claims of fraud brought forward by six plaintiffs.

This group, extremely broadly described as “a nationwide class of users” claimed in an April 2022 filing that Uniswap Labs controlled liquidity pools, including those created by scammers who launched fake tokens on the DEX.

The judge, however, dismissed the lawsuit due to the decentralised nature of Uniswap and the fact that, although yes, Uniswap created the technology, it clearly has no idea who the scammers are using the DEX.

“Instead of suing the scammers, the plaintiffs were suing the defendants over statements made on social media,” reported Cointelegraph.

 

Top 10 overview

With the overall crypto market cap at US$1.09 trillion, down almost 3% since about this time yesterday, here’s the current state of play among top 10 tokens – according to CoinGecko.

 

Uppers and downers

Some of the biggest 24-hour gainers and losers at press time. (Stats accurate at time of publishing, based on CoinGecko.com data.)

PUMPERS (11-100 market cap position)

• Maker (MKR), (market cap: US$1.05 billion) +13%

• dYdX (DYDX), (market cap: US$393 million) +6%

• Toncoin (TON), (market cap: US$6 billion) +3%

 

SLUMPERS 

• Stacks (STX), (market cap: US$693 million) -7%

• Optimism (OP), (market cap: US$1.1 billion) -5%

• Rocket Pool (RPL), (market cap: US$442 million) -5%

• Filecoin (FIL), (market cap: US$1.43 billion) -5%

• EOS (EOS), (market cap: US$661 million) -5%

• GALA (GALA), (market cap: US$485 million) -5%

 

Around the blocks

Some pertinence and randomness that stuck with us on our morning moves through the Crypto Twitterverse.

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