Binance Coin (BNB) and Ripple (XRP) both experienced price declines in June after the SEC filed lawsuits again Binance and Coinbase. Though these charges have been disputed, Binance Coin’s value has declined by over 20% and XRP has seen consistent price decreases over the past two weeks.
However, some experts believe that Binance Coin and XRP could bounce back. With Bitcoin recently hitting $30,000, and new projects like Tradecurve rallying by 80%, a new bull run could be on the way.
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Binance Coin Struggles To Bounce Back After 4 Weeks
The SEC’s decision to file a lawsuit against Binance caused Binance Coin’s price to collapse. In just 24 hours Binance Coin fell from $305 to $278, and the token has since continued to decrease in value. At the time of writing, Binance Coin was trading at $242, though it had slightly increased in value by 1.67% over the last five days.
Following the lawsuit, the number of investors leaving Binance increased dramatically. While the exact number is unknown, many speculate that around $1 million users left the platform, with Binance’s trading activity decreasing by 20%.
As investors are now uncertain about the future of Binance, Binance Coin could face several additional declines over the next few months. Some experts predict that Binance Coin could decrease in value to around $220, while others believe its price may begin to hold.
Either way, many investors are moving away from Binance Coin until the SEC situation begins to stabilize.
XRP Decreases By 8.59% In June
Following the initial SEC lawsuit against Binance, XRP remained relatively stable. As the project is already in a legal dispute with the SEC, investors remained unphased by the new lawsuits.
However, XRP saw a sharp decline during the second week of June after the general crypto market decreased in value.
Throughout the month, XRP decreased in price by 8.59% and is now trading at $0.4882. However, this decrease has had little impact on XRPs daily trading volume, which remains above $1 billion.
Analysts also remain bullish, with estimates suggesting that XRP could hit $3 by 2025. This would be a huge win for the XRP community and would help the project solidify itself as a top DeFi project.
Tradecurve Outperforms The June Bear Market
As much of the crypto market collapsed in June, Tradecurve experienced several price increases and hit a new all-time high of $0.018 which represents a massive 80% price increase. As a rapidly growing, new DeFi project, analysts are keeping a careful watch on the project’s growth..
Tradecurve has created a new way for DeFi investors to trade with its hybrid exchange. As a hybrid exchange, traders will have access to assets currently only available on centralized exchanges. These include CFDs, stocks, commodities, and forex trading options. Each of these will be available to investors who want to remain anonymous, and can be traded using crypto as collateral.
Tradecurve’s exchange is fully decentralized. Users can get started without passing a KYC check by using an email to sign up.
Once signed up, a trader can connect an external wallet to deposit cryptocurrency, trade assets, and disconnect in a similar way to many decentralized exchanges. With a number of features to support its exchange, Tradecurve’s value is expected to 50X during its presale, which has some analysts calling Tradecurve the next Binance Coin ICO.
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