{"id":7445,"date":"2023-06-08T04:43:06","date_gmt":"2023-06-08T04:43:06","guid":{"rendered":"https:\/\/www.btse.com\/blog\/?p=7445"},"modified":"2023-07-03T04:48:07","modified_gmt":"2023-07-03T04:48:07","slug":"global-regulators-continue-crypto-crackdown-prices-face-turbulence","status":"publish","type":"post","link":"https:\/\/www.btse.com\/blog\/global-regulators-continue-crypto-crackdown-prices-face-turbulence\/","title":{"rendered":"Global Regulators Continue Crypto Crackdown, Prices Face Turbulence"},"content":{"rendered":"

Trending tokens on BTSE:<\/strong><\/p>\n\n\n\n\n\n\n\n
Asset<\/b><\/div><\/td>\n
Price<\/b><\/div><\/td>\n
24h %<\/b><\/div><\/td>\n<\/tr>\n
Bitcoin (BTC)<\/span><\/a><\/div><\/td>\n
$26,403.21<\/div><\/td>\n
-2.22%<\/div><\/td>\n<\/tr>\n
Ethereum (ETH)<\/span><\/a>\u00a0<\/span><\/div><\/td>\n
$1,838.04<\/div><\/td>\n
-2.1%<\/div><\/td>\n<\/tr>\n
Binance Coin (BNB)<\/span><\/a><\/div><\/td>\n
$258.15<\/div><\/td>\n
-7.03%<\/div><\/td>\n<\/tr>\n
\n

Qwan (QWAN)<\/span><\/a><\/p>\n<\/div><\/td>\n

$0.3166<\/div><\/td>\n
+145.5%<\/div><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

 <\/p>\n

 <\/p>\n

 <\/p>\n

 <\/p>\n

 <\/p>\n

 <\/p>\n

(as of\u00a0 2:45 AM UTC, June 8, 2023)\u00a0<\/span><\/i><\/p>\n

 <\/p>\n

With a flurry of regulatory challenges this week, the crypto industry has been turbulent. Following charges brought to crypto exchange giants Coinbase and Binance by the SEC, large market cap crypto prices have fluctuated – but generally remained strong. Bitcoin (BTC) and Ethereum (ETH)\u00a0 dropped 2.22% and 2.1% in the last 24 hours respectively. Bitcoin remains safely above its monthly low of US$25,434, and Ethereum at $1838.04, only slightly wavering from its <\/span>30-day moving average of US$1,854.<\/span><\/a>\u00a0<\/span><\/p>\n

Binance\u2019s own cryptocurrency Binance Coin (BNB) has not experienced the same stability, experiencing a sharp nosedive this week following legal action from the SEC. The coin was sitting at around US$307 just 5 days ago on Sunday; however at time of writing, <\/span>sits at just US$258.15<\/span><\/a>. At the same time, however, BTSE\u2019s recently listed The QWAN (QWAN) rocketed <\/span>as much as 145% in the last 24 hours<\/span><\/a>, providing a stark contrast to popular coins during a period of regulatory challenges.\u00a0<\/span><\/p>\n

The total amount of stablecoins held across all exchanges has also dropped <\/span>by more than half in the last 6 months<\/span><\/a>, which could signal a drop in demand for cryptocurrencies. Stablecoins, such as the highly popular USDT, are used as an onramp for a significant portion of crypto traders, so a drop in their holdings on exchanges could conceivably lead to an incoming drop in demand for cryptocurrency.<\/span><\/p>\n

Across the globe, the United Kingdom also introduced tough new rules and guidance on marketing for cryptocurrency, which has recently been placed on the country\u2019s list of high risk investments. It bans promotions that require users to refer new people to such platforms or investments, and requires all crypto advertisements to feature \u2018clear risk warnings\u2019.<\/span><\/p>\n

 <\/p>\n

Trade Bitcoin on BTSE <\/span>here<\/span><\/a>.<\/span><\/p>\n

Join our Telegram news channel <\/span>here<\/span><\/a>.<\/span><\/p>\n

 <\/p>\n

\n

Our aim is to create a platform that offers users the most enjoyable trading experience. If you have any feedback, please reach out to us at\u00a0<\/i>feedback@btse.com<\/i><\/a> or on Twitter @BTSE_Official.<\/i><\/p>\n

Note: BTSE Blog contents are intended solely to provide varying insights and perspectives. Unless otherwise noted, they do not represent the views of BTSE and should in no way be treated as investment advice. Markets are volatile, and trading brings rewards and risks. Trade with caution.<\/span><\/i><\/p>\n","protected":false},"excerpt":{"rendered":"

Trending tokens on BTSE: Asset Price 24h % Bitcoin (BTC) $26,403.21 -2.22% Ethereum (ETH)\u00a0 $1,838.04 -2.1% Binance Coin (BNB) $258.15 -7.03% Qwan (QWAN) $0.3166 +145.5%               (as of\u00a0 2:45 AM UTC, June 8, 2023)\u00a0   With a flurry of regulatory challenges this week, the crypto industry has been turbulent. […]<\/p>\n","protected":false},"author":1,"featured_media":7342,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[9],"tags":[],"class_list":["post-7445","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-analysis"],"yoast_head":"\nGlobal Regulators Continue Crypto Crackdown, Prices Face Turbulence — BTSE Blog<\/title>\n<meta name=\"description\" content=\"With a flurry of regulatory challenges this week, the crypto industry has been turbulent following charges brought to crypto exchange giants.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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