Key Highlights of the Week
SEC Alerts DeFi Uniswap with Wells Notice
An official notice referred to as a Wells notice was registered by the U.S. Securities and Exchange Commission (SEC) against decentralized exchange (DEX) Uniswap on April 10. This note serves as a formal hint from the SEC regarding possible enforcement measures. Uniswap Labs, the primary developer of Uniswap, has been under SEC investigation since the year 2021. To address the rise in regulatory oversight, the exchange has previously delisted several tokens. Following this announcement, the native token of the DEX, Uniswap (UNI), faced a decline of 10%, hitting a low point in a span of six weeks.
Technical Analysis Points to Imminent Altcoin Surge – Analysts
Market analysts foresee the arrival of the much-awaited altcoin season in the cryptocurrency realm. Recognized trader and analyst Rekt Capital highlighted on April 11 that the altcoin market cap has displayed consistent behavior amid Bitcoin’s recent price volatility. It has been continuously testing the $315 billion level as a stable support for several weeks. Traditionally, altcoin price hikes tend to trail behind Bitcoin, and signals derived from charts like altcoin market capitalization and Bitcoin dominance can help anticipate when altcoins are gearing up for a bull run of their own.
BTC Halving to Trigger ‘Intense Crypto Asset Sell-Off’ — Arthur Hayes
BitMEX co-founder Arthur Hayes anticipates that the Bitcoin halving this April, combined with interventions from the United States Federal Reserve and the Department of the Treasury, will ignite a significant sell-off of crypto assets, plunging the market for weeks. In a blog post on April 8, Hayes expressed his belief in a medium-term price surge post-halving but cautioned against potential negativity in crypto prices just before and after the event. Hayes also pointed out the contextual tightness in dollar liquidity, asserting his views on the Federal Reserve and Treasury policies during this period.
