June was not easy for traders. The overall negative backdrop of SEC lawsuits against Binance and Coinbase led to a string of liquidations in the market. For its part, Binance accused the SEC of creating confusion and deliberately misleading the community.
Nevertheless, buying forces are gaining momentum – last week bitcoin renewed its yearly high and hit $31,400.
In its lawsuits, the SEC effectively declared war on the entire crypto world, calling BNB, BUSD, SOL, ADA, MATIC, NEAR, ICP, VGX, DASH, NEXO, CHZ, FIL, FLOW, ATOM, SAND, MANA, ALGO, AXS and COTI securities. Panic in the community caused increased volatility and an outflow of funds from these instruments.
Analysts also recorded a decline in trading volume on centralized crypto exchanges. At the beginning of the month, the figures did not exceed $424 billion. The last time such a low turnover was in October 2020.
Experts attribute this trend to the overflow of funds of market makers to the decentralized space. Note that two days after the beginning of the proceedings of the regulator with the exchanges, trading on DEX increased by 444%.
Ilon Musk was accused of insider trading in Dogecoin. The pressure on the entrepreneur began after the collapse of the price of the coin, when Musk fixed a position of $124 million by pre-stamping the coin.
The U.S. Federal Reserve took a pause at its June meeting to raise the rate at 5.25%. Later in his speech, Powell said it was appropriate to raise the rate twice more. Changes are expected in the coming month.
From general news let’s move on to platform news, we have something to please you!
Let’s start with the indicators.
The total trading turnover is breaking records – the amount of trades for the month was $143,138,291. Binance was the outright favorite with $95,304,443.
This month, the black swan on the market for the first time in the history of Veles set a negative record. On June 10, the amount of stop-losses considerably exceeded the total profit of the users: $12424 were closed on take positions, and $19380 on stop-losses.
In total, there were $323,853 worth of deals at points and $100,854 worth of stop losses during the month.
The first days of the month were the most profitable. On June 2, users managed to earn $18,234 excluding stop-losses.
MATIC (+17 841% PNL), OCEAN (+15 097% PNL), XRP (+11 916% PNL), ETH (+11 1164% PNL) and BTC (+10 921% PNL) earned the most money.
Veles team completely rewrote the integration layer with Bybit: unified accounts support was implemented, stop-loss orders can be placed in trades.
We have added restrictions on the number of deals in bots. Specify the desired value in the settings and the bot will pause until the next launch. There are also multi-takes, with the help of which a profitable position is fixed by several orders.
Turning our eyes away from platform news, we continue to work on uniting the cryptosphere around our community. Our article, “How Artificial Intelligence is being introduced into the Cryptosphere” was published on Medium.
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Thank you for being with us and we wish you maximum profit, Regards Veles team. 🚀
