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Justin Sun to Trade Memecoins, Donate Profits to Charity

Overview

  • Cryptocurrency market cap saw net outflows of around $10 billion.
  • Bitcoin (BTC) and Ethereum’s (ETH) market cap fell 0.50% and 1.06% respectively.
  • Tether (USDT)’s market cap grew to $82.66 billion whereas the USD Coin (USDC) and Binance USD (BUSD) fell to $30.12 billion and $5.76 billion, respectively.

Bitcoin Performance

In the last 24 hours, Bitcoin fell 0.51% to trade at $27,472 as of 07:00 ET with its market dominance dropping to 46.9%. BTC’s price sharply descended to $26,883 after breaching the $28,000 level due to false rumors that the US government was selling its Bitcoin reserves.

Altcoin Performance

All top 10 crypto assets recorded losses in the last 24 hours — except Polkadot, BNB, and Cardano which saw minimal gains. Meanwhile, Tether (USDT)’s market cap grew to $82.66 billion whereas the USD Coin (USDC) and Binance USD (BUSD) fell to $30.12 billion and $5.76 billion respectively.

Justin Sun News

Justin Sun has announced plans to start trading memecoins with profits from these trades being donated to charity; he also admitted ownership of Huobi but called Binance a partner rather than a rival in the cryptocurrency space. VC investments in European projects have risen significantly in Q1 2023 while Circle’s reserves no longer contain US Treasuries that mature after June this year; furthermore Robinhood reported a total of 38 million dollars in crypto transaction revenue during Q1 2023 alone.

Conclusion

The cryptocurrency market witnessed mixed performance over the past 24 hours with Bitcoin prices falling slightly following false rumors of US government Bitcoin sell-off while altcoins experienced minimal gains or losses overall; meanwhile Justin Sun made multiple announcements regarding his plans for memecoins donations as well as VC investments showing an uptick in Europe while Circle’s reserves are gradually becoming less reliant on US Treasuries — finally Robinhood reported significant crypto transaction revenue at 38 million dollars for Q1 2023 alone .