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U.S. equities gained as investors await further clues from upcoming corporate earnings. The broader cryptocurrency fell, with Bitcoin and Ether shedding 1.87% and 0.73%, respectively, in the past 24 hours.
Today’s top mover is HNT, the native token of Helium Network, a blockchain-based network that connects low-power IoT devices via LoRaWAN. HNT has seen volatility in the token price since Binance delisted the token in March. The imminent migration to Solana has sent a tailwind to the native token, with investors anticipating that the Solana network can enhance the transaction, reliability, and scalability of Helium’s IoT ambition. That said, investors have been worried about Helium’s adoption instead of scalability, where the issues of user manipulation and token concentration have remained unsolved.
Check Out the Latest Prices, Charts, and Data of HNTUSDT!
The U.S. House Financial Services Committee published a draft version of a potential landmark stablecoin bill, which aims to prohibit algorithmic stablecoins and promote a central bank digital currency (CBDC). The bill comes following the fallout of TerraUSD (UST), and U.S. lawmakers aspire to regulate the crypto industry from an essential element — stablecoin. In the past year, legislators elsewhere also intend to target stablecoin regulation before releasing a comprehensive crypto law.
BoE Considers Limits on Stablecoin Payments as Parliament Debates New Crypto Rules. (Link)
South Korean Law Firm Confirms Do Kwon Paid Them $7 Million Before Terra Collapse. (Link)