Turkish cryptocurrency exchange Bitay launched in India; Terraform Labs under investigation by the US SEC

Bitay, a Turkish cryptocurrency exchange, has opened an office in Gurgaon to make a foray into the Indian cryptocurrency market. Niyazi Yilmaz, CEO of Bitay, said they intend to fully comply with all Indian cryptocurrency regulations and laws and welcome the 30% and 1% TDS income tax on crypto transactions, Financial Express reported.

Meanwhile, Terraform Labs is under investigation by the United States Securities and Exchange Commission (SEC). After the news hit the markets on June 9, traders liquidated around $ 18 million worth of crypto tokens Terra (LUNA) and Terra Classic (LUNC), Coindesk reported.

Global cryptocurrency market cap fell 3.26% to $ 1.19 trillion at 8:50 am. However, the global cryptocurrency volume increased 10.73% to $ 67.45 billion according to data from Coinmarketcap.

Prices of cryptocurrencies

Bitcoin (BTC), the world’s oldest cryptocurrency, was trading at $ 29,235.38, down 2.41% in the past 24 hours. Ethereum (ETH) fell 6.18% to $ 1,673.67.

Among other significant coins, Cardano (ADA) fell 6.69% to $ 0.5847, Algorand (ALGO) was trading a loss of 6.21% to $ 0.3752, Solana (SOL) was trading a loss of 7.24% to $ 37.38, Polkadot (DOT) fell 5.53% to $ 8.71, and Binance Coin (BNB) fell 0.55% to 287.77 $.

The best gainer today was Metaxa (METAXA), which was up 1695.31% to $ 0.000004929. The biggest loser was PYRAMIDWALK (PYRA), which was down 82.14% to $ 0.01902.

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Traders have liquidated approximately $ 18 million worth of Terra (LUNA) and Terra Classic (LUNC) cryptocurrencies.
Traders have liquidated approximately $ 18 million worth of Terra (LUNA) and Terra Classic (LUNC) cryptocurrencies.

Meme Coin and DeFi Prices

Dogecoin (DOGE) fell 4.41% to $ 0.07573. Its volume to market capitalization ratio is 0.0407. Rival Shiba Inu (SHIB) fell 3.86% to $ 0.00001015.

Dogelon Mars (ELON) lost 6.17% to $ 0.0000003932, Floki Inu (FLOKI) lost 8.64% to $ 0.000007249, and Samoyed Coin (SAMO) lost 5.36% to $ 0.005576.

In the DeFi segment, YFI (yearn.finance) fell 5.1% to $ 7,092.51 and Terra Classic (LUNC) was trading a loss of 9.71% to $ 0.00007214. Avalanche (AVAX) fell 8.62% to $ 22.55, Uniswap (UNI) was trading a loss of 5.97% to $ 4.87, and Aave (AAVE) fell 8.81 % at $ 88.11.

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