The list includes several top 10 cryptocurrencies — Solana, Cardano, Polygon and the BNB token issued by Binance.
U.S.-basedtradingserviceRobinhoodFinancialsaidonFridayitwillendsupportforCardano,PolygonandSolanafromJune 27. Robinhoodhadabout 11.4 millionmonthlyactiveusers,withUS$62billioninassetsundermanagementasofQ4 2022, accordingtoInvesting in the Web.
Solana posted the biggest fall among top 10 crypto tokens on Monday morning with a 2.35% decline to US$15.48. The cryptocurrency has lost 30% of its value over the past week.
PolygonLabsalsopostedastatement onTwitterSundaywhichsaid its blockchain network and the accompanying cryptocurrency Matic was developedanddeployedoutsidetheU.S.“Givenourfocusonnetworksecurity,wemadesureMATICwasavailabletoawidegroupofpersons,butonlywithactionsthatdidnottargettheUSatanytime,”thestatementsaid.
Matic gained 3.28% to US$0.6343 on Monday morning, but is down more than 29% over the week.
BNB, Binance’s native token, dipped 1.66% on Monday morning to US$235.59, losing 23% in the last seven days.
Last Monday, the SEC filed a lawsuit against Binance, its U.S. branch, and chief executive officer Changpeng Zhao. Binance faces 13 charges in the lawsuit, including allegations of fraud, the unregistered offer and sale of the BNB and BUSD tokens and unregistered activity related to its Simple Earn and BNB Vault products and its staking program.
A day after the SEC filed its lawsuit against Binance, the regulator sued Coinbase, the largest crypto exchange in the U.S., for allegedly violating securities rules.
The indexes are proxy measures of the performance of the global NFT market. They are managed by CryptoSlam, a sister company of Forkast.News under the Forkast.Labs umbrella.
The SEC-led regulatory clampdown in the U.S. is unlikely to discourage growth in the NFT sector, according to Yehudah Petscher, NFT Strategist at Forkast Labs, the parent company of Forkast.News.
Mythos chain-based DMarket collection recorded US$1.06 million in daily sales, placing second on Cryptoslam’s ranking despite slipping 8.21% in the previous day.
U.S. stock futures edge higher
U.S. Federal Reserve Chair Jerome Powell | Image: Getty Images
U.S. stock futures rose as of 10:10 a.m. in Hong Kong after major U.S. stock indexes posted gains last week. Dow Jones Industrial Average futures added 0.027%, and S&P 500 futures rose 0.14%. Nasdaq Futures also gained 0.23%.
Last Friday, the Dow Jones Industrial Average climbed 0.13%. The S&P 500 added 0.11%, and Nasdaq Composite Index rose 0.16%.
Investors this week have the U.S. Consumer Price Index, a key inflation indicator, released on Tuesday, followed by the Federal Open Market Committee meeting on June 13 and 14. The Fed is expected to leave interest rates unchanged at 5% to 5.25%, the highest since 2006 after ten consecutive hikes that started in March 2022.
The CME FedWatch Tool predicts a 73.6% chance the Fed will leave rates as is at this week’s meeting, and a 26.4% chance for another 25-basis-point rate hike.
However, former Fed vice chair Roger Ferguson told CNBC last Friday that there may be more rate hikes in the rest of the year even if the central bank decides to skip the increase this meeting.
