Crypto Flipsider News – September 6th – BTC + ETH Weekend Moves, SEC

Read in the Digest

• BTC + ETH Weekend Moves, BTC Dominance Drops
• SEC Seeks Crypto Community Collaboration
• Binance Changes Offering in Singapore
• South Korea Telcos to Use Blockchain for Environmental Protection
• Zilliqa to Launch NFT Marketplace

BTC + ETH Weekend Moves, BTC Dominance Drops

Cryptocurrencies made a spectacular entrance into September, with a rising tide for all coins. has once again breached $50,000, for the second time in two weeks, and is now trading at $51,753. ETH was not left behind. It has climbed 24% in the last seven days to trade as high as $3,979.

Bitcoin dominance has fallen significantly, signalling the dawn of the altcoin season. Other altcoins like , , Binance Coin, and Tether have seen their market dominance rise recently.

The 1-year index chart of Bitcoin showing a decline in its market dominance. Source TradingView

Flipsider:

• While Bitcoin market dominance has declined, it still leads the way in institutional investment
• The likes of MicroStrategy, Blackrock (NYSE:), Galaxy Digital, and Tesla (NASDAQ:) have all invested in Bitcoin

On January 1st, the market dominance of Bitcoin reached a high of 72.6%. Depending on the crypto market price aggregator leveraged, Bitcoin’s dominance has been between 39.99% to 41.52%.

Why You Should Care

The drop in the market dominance of Bitcoin spells a complete decentralization across the crypto market. As a result, Bitcoin’s impact on the entire market will lessen.

SEC Seeks Crypto Community Collaboration

Even before his appointment as the Chairman of the Securities and Exchange Commission (SEC), Gary Gensler has been hailed as a blockchain expert billed to take regulations of cryptos to the next level.

“Come in and talk to us,” Gensler has urged trading platforms, which make up 95% of crypto market activity. He also added that regulation would restore market trust, and crypto platforms should be appropriately registered with the SEC.

Flipsider:

• While Gary Gensler calls for the collaboration of crypto exchanges, Binance has been caught in the regulator’s webs
• In July, the SEC filed a criminal complaint against Binance

While Gensler seeks cooperation, it was revealed on Friday that the SEC has been investigating Uniswap Labs, the leading developer behind one of the world’s largest cryptocurrency exchanges, Uniswap.

According to the report, the regulatory agency is looking for more information on how investors use Uniswap and its marketing.

Why You Should Care

There has been an air of uncertainty over the crypto industry as regulators seek to tighten their grip on the industry. The SEC is currently in court with executives and Binance. Crypto enthusiasts believe these cases are significant for the future of the industry.

Binance Changes Offering in Singapore

As regulators tighten their grip on…