Top Stories This Week
SEC issues Wells notice to DeFi protocol Uniswap
The U.S. Securities and Exchange Commission (SEC) issued a Wells notice to decentralized exchange (DEX) Uniswap on April 10. A Wells notice is a formal indication from the SEC that it plans to recommend enforcement action. The SEC has been investigating Uniswap Labs, the main developer behind Uniswap, since 2021. In response to increasing regulatory scrutiny, the platform has previously removed several tokens from its listing. The DEX’s native token, Uniswap (UNI), fell 10% in the hours following the news, reaching a six-week low.
Technical charts suggest a roaring altseason may be just ahead: Analysts
Crypto’s famed “altseason” could be coming very soon, according to market analysts. On April 11, pseudonymous trader and analyst Rekt Capital observed that the altcoin market cap “has been the only constant” despite Bitcoin’s price whipsawing over the past few weeks. It has been consistently retesting the $315 billion level as support for weeks now, he added. Historically, altcoin price appreciation lags Bitcoin, and charts such as the altcoin market capitalization and Bitcoin dominance can provide traders some signals for when altcoins may be moving into a bull season of their own.
BTC halving to fuel ‘raging firesale of crypto assets’ — Arthur Hayes
April’s Bitcoin halving, combined with a “bag of tricks” from the United States Federal Reserve and the Department of the Treasury, will “add propellant to a raging firesale of crypto assets” and depress the crypto market for weeks, says BitMEX co-founder Arthur Hayes. In an April 8 blog post, Hayes wrote he believed the Bitcoin halving would “pump prices in the medium term” but warned crypto prices “directly before and after could be negative.” Hayes believes that the halving is also coming at a time when “dollar liquidity is tighter than usual” and outlined his theory on how the U.S. Federal Reserve and Treasury policies…
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