06/07 Market overview: CEXs sued by the SEC, which may benefit these DEX tokens
Following yesterdayβs lawsuit by the SEC against Binance and CZ, news today is that Coinbase is also being sued for violating US securities laws, and BInance US has been requested for a ban.
Coinbase price fell by 18% after the sue, hitting a new low since 13 January. As CEXs are being sued one by one, the industry has started another withdrawal movement. Most users are moving their assets to decentralized wallets and trading via DEX. This could potentially benefit DEX tokens on Tokenlon like UNI, 1inch, LON, SUSHI, and CRV among others.
On Coingecko, BTC is now at $26,997.66, ETH at $1,878.32, with a 24hr increase of 4.8% and 3.6% respectively.
Friendly reminder from Tokenlon to pay attention to risk management amidst the market fluctuations. You can use Tokenlon Instant Swap to respond to market changes quickly, and use Tokenlon Limit Orders to place trades in advance and avoid missing the next wave of market movements.
Note
Digital assets are highly volatile and unpredictable, do your research before trading.
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