Bitcoin Falls 1.2% as Curve Chaos Sparks Systemic Crisis Fears in DeFi

Curve's native token CRV is down 4% over the past 24 hours to $0.59, but earlier Thursday had slid to as low at $0.50 before Tron blockchain founder Justin Sun

$2 million worth of the token and pledged additional assistance through a liquidity pool set up on the Tron network.Read More:Dinging market sentiment, particularly among altcoins, a federal judge – in an otherwise unrelated case involving the SEC's lawsuit against Terraform Labs – rejected the distinction made by another judge last month in the Ripple case between public and institutional sales of the payments focused cryptocurrency XRP.

XRP is lower by 1.4%, while the native tokens of Solana, Cardano, Polygon and Stellar are all down 2%-3%.Judge Rejects Ripple Ruling Precedent in Denying Terraform Labs' Motion to Dismiss SEC Lawsuit In an email to CoinDesk, Dave Weisberger, the CEO and co-founder of algorithmic-trading platform CoinRoutes, noted altcoins downward drift following the HEX suit, although he added that it involved a"misappropriation of funds" and did not indicate anything structurally wrong with the broader market.

“In general, we’re in the dog days of summer and in turn seeing relatively low volumes for Bitcoin along with Ethereum," Weisberger also wrote, but added that"larger-size buyers" seemed to be accumulating bitcoin as the price recently dropped.See more:

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