logo logo

The next-generation financial news, and trading signals for you to start driving your FOMO today!


FREE trading signals

Get free daily crypto signals to make profitable trades every day!

View fresh signals


Peter Davis

An writer at FOMOdrive

  • Jun 16, 2023
  • 3 min read

Santiment: the crypto market fell in the crisis March 2020

The value of stablecoin USDT has diverged from its usual 1:1 ratio with the U.S. dollar.

The name of the "gray cardinal" of the Binance crypto exchange was revealed by Forbes.

The Bitcoin Dominance Index has reached its highest level in over two years.

BlackRock has submitted an application to launch a Bitcoin Exchange-Traded Fund (ETF).

The Hashflow platform was hacked by hackers, resulting in a loss of $600,000.

According to Santiment, trader sentiment is currently at its lowest level since March 2020, when the COVID-19 pandemic caused the digital asset market to collapse and the bitcoin rate to drop below $4,000.

The weighted average rate of Tether's USDT stablecoin has dropped to 0.9958 (as reported by CoinMarketCap), deviating from its parity with the US dollar. In response to this, Tether CTO Paolo Ardoino declared, "Markets are nervous these days, so it is easy for attackers to capitalize on the general sentiment. We at Tether are ready as always. Let them come, we will redeem any amount."

CoinMarketCap reported that the bitcoin dominance index reached a high of 47.7% in May 2021, with altcoins falling. However, the index was close to 47% in June 2022, but then quickly dropped.

BlackRock, a major investment firm, is in the process of submitting a request to the SEC to establish a Bitcoin Exchange Traded Fund (ETF). Unfortunately, the SEC has previously denied the majority of applications for cryptocurrency ETFs.

Francis Suarez, a bitcoin enthusiast and the Mayor of Miami, Florida's capital, has announced his candidacy for President. He has expressed his ambition to make Miami the hub of the cryptocurrency industry.

According to Forbes, the "gray cardinal" of the Binance crypto exchange is Guangying Chen, also known as Heina Chen. It appears that Chen has been the one making key management decisions for the exchange, rather than CEO Changpeng Zhao. Chen is the director of eight key companies associated with Binance.

Kaiko data shows that Binance.US's U.S. market share has dropped to 2.7%, the lowest it has been since December 2020. This is a significant decrease from April, when the platform held 16.1% of spot trading volume.

The App Store has declined to accept the latest version of the Zeus non-custodial wallet app for Lightning Network proposed by Apple.

Floating Point Group (FPG), a crypto broker that manages $50 billion in assets, has reported a hack resulting in an estimated loss of $15-20 million. As a result, trading, depositing, and withdrawing funds have been suspended.

PeckShield reported that the decentralized trading platform Hashflow was hacked, resulting in an estimated loss of $600,000. Hashflow provided users with the ability to exchange various digital assets across different blockchains.

The number of subscribers to the two leading Reddit crypto communities - r/Bitcoin and r/Ethereum - has hit a new record of 7 million users. From June 4 to June 11, over 364,000 subscribed to the BTC section. It is likely that the SEC litigation with the two largest crypto exchanges has sparked community interest.

Share this article