Bitcoin Dominance Approaches 50%… ‘SEC Effect?’
On the 12th, Wu Blockchain, a Chinese blockchain media, cited data from the global chart platform Trading View and announced that the dominance of Bitcoin (BTC) is close to 50%. It is an analysis that BTC market share has risen while maintaining a relatively stable level despite the sudden decline of altcoins. There is also analysis that the news that investment platform Robinhood will delist Solana (SOL), Polygon (MATIC), and Cardano (ADA) fueled the rise in BTC dominance. BTC’s dominance ratio has risen steadily since November last year, and it also increased during events such as SVB’s bankruptcy in March.
Altcoins Plunge Under SEC ‘Unregistered Securities’ Classification
The US Securities and Exchange Commission (SEC) shocked the market last week when it sued cryptocurrency (virtual asset) exchanges Binance and Coinbase for violating securities laws. At the time, the SEC deemed Cardano (ADA), Polygon (MATIC), and Sandbox (SAND) as securities, and as a result, the price of many altcoins plummeted. As of 2:00 am on the 12th, Sandbox dropped 36.62% from the previous week. Decentraland (MANA) fell 34.11% over the same period.
Corner Market, before going into Korea … Extended license 2 release too
Global Web3 Payment Solution Corner Market is preparing to enter the Korean market in the second half of this year. Corner Market is a solution that allows small businesses to conduct e-commerce without worrying about the complexity of cryptocurrency (virtual asset) transactions or intermediate costs such as fees. Currently, it is expanding its market to Washington DC, California, Colorado, Texas, and Miami in the United States. In the case of Korea, it is preparing to enter the market around September. Recently, ‘Licence 2’ has been expanded and payment convenience has been improved.