The U.S. crypto market experienced mixed movements as regulatory tensions and significant whale activity influenced trading. U.S. stocks closed higher, with the crypto sector seeing broad gains, including a 5.36% rise in SBET. However, a major fraud incident resulted in a loss of over $282 million in LTC and BTC, which was converted into XMR.
Regulatory tensions escalated as the White House expressed dissatisfaction with Coinbase's actions, potentially affecting support for the cryptocurrency market structure bill. Meanwhile, a large whale deposited $7.9 million in USDC into HyperLiquid, placing long orders for ETH and ADA. Additionally, the U.S. Solana spot ETF saw a net outflow of $2.22 million, while the XRP spot ETF recorded a net inflow of $1.12 million.
U.S. Crypto Market Sees Mixed Movements Amid Regulatory Concerns and Whale Activity
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