Crypto Market Overview June 27th | Dex-Trade

Crypto Market Overview June 27th | Dex-Trade

Anonymous Got to the Co-founder of Terra With Threats

In a two-minute YouTube video, Anonymous, the world's largest hacktivist organization, spoke about the events that led to the catastrophic collapse of LUNA and UST in May, and also promised to expose the "crimes" of which it accused Terraform Lab co-founder and CEO Do Kwon. In their appeal, Anonymous summarized a list of Kwon's alleged wrongdoings, including cashing out $80 million in LUNA and UST stocks shortly before the crypto crash, and his role in the scam of the StableCoin Basis Cash project, which Kwon allegedly created in 2020 under the pseudonym Rick Sanchez. Hacktivists emphasized that no cryptocurrency project is immune from the collapse, but in the case of Terraform Lab, they believe that Kwon's intentions were initially bad. Therefore, the group intends to help with bringing the entrepreneur to criminal liability: “Do Kwon, if you are listening. Sadly, there is nothing that can be done to reverse the damage that you have done. At this point, the only thing that we can do is hold you accountable and make sure that you are brought to justice as soon as possible. We are Anonymous. We are legion.” It seems that Kwon has a really black streak in life. Although it’s possible that the persecution of Anonymous will follow the scenario of their last year's threats to Elon Musk, as a result of which absolutely nothing happened.



The Creator of DOGE Once Again Leaked a Portion of Selective Skepticism on Twitter

In response to a tweet by user greg asking his audience how long the bear market could continue, Dogecoin founder Billy Marcus, also known as Shibetoshi Nakamoto, stated that "sometimes there are dead cat bounces before hopes and dreams are crushed again." Recall that a dead cat bounce is a small temporary increase in the price of an asset, followed by a continuation of the downtrend. The bear market was the result of what began this year in the crypto market as a “risk-free” selling round, fueled by the aggressive stance of the US Federal Reserve to tighten monetary policy. As a result, Bitcoin fell by 70% compared to its ATH, and altcoins followed suit. During its short existence, cryptocurrency has experienced many significant downturns, known as "crypto winters," which in classic financial models are called "bear markets." John Griffin, a professor of finance at the University of Texas, expressed similar opinions about the bear market: “There may be some bear rallies, but I don't see a catalyst to reverse the cycle anytime soon.” As for Marcus, who regularly competes in trolling with Musk, taking a more skeptical position, the current statement was more likely to shock, which he succeeds in glory. But it’s important to remember that no one seriously considers radical scenarios for the behavior of digital assets.



TIME and The Sandbox Partner to Create 'Time Square'

The NFT community, organized by New York-based TIME news magazine, TIMEPieces, has teamed up with Animoca Brands The Sandbox metaverse to develop the first phase of the Time Square metaverse, magazine president Keith A announced at an NFT.NYC event. From a technical point of view, the project looks like this: TIME has acquired a virtual piece of land in the metaverse of The Sandbox, on which venues for events, thematic gatherings, art and commerce will be built. The Sandbox co-founder, Sebastien Borger, said the metaverse is often seen as a vibrant space with healthy culture, entertainment and brands where everyone can discover, learn, work, play, dance, meet new people and discover new capabilities. By the way, last year TIME launched the TIMEPieces NFT project, which presented a collection of original works by more than 40 influential artists. It is assumed that "Time Square" will now become a new virtual place for TIMEPieces NFT owners.