The SEC will sue Uniswap Labs!

😡 The SEC has initiated a significant move against the cryptocurrency sector, targeting Uniswap, the most prominent decentralized exchange (DEX) currently in operation. Since its inception in 2018, Uniswap has facilitated over $2 trillion in transactions and leads in several key performance metrics, boasting over $6.1 billion in total value locked (TVL). Recently, Uniswap Labs, the entity behind the Uniswap protocol, received a Wells Notice from the SEC, an action that often precedes a lawsuit.

👀 The specific allegations against Uniswap Labs remain unknown. However, indications from the SEC's recent legal actions suggest the issues may revolve around the offering of unregistered securities or the failure to register as a broker or exchange.

💧The market saw a decline in the value of the Uniswap token (UNI), a reaction aligned with market expectations in such scenarios. Uniswap Labs has publicly expressed their intent to vigorously defend against the SEC's actions.

⁉️ Bull market is over?

⚠️ Cryptocurrency experts are hinting that the current uptrend in the market might be drawing to a close, as the Value Days Destroyed (VDD) Multiple has climbed beyond the 4.0 mark.

🔥 This multiple serves as an indicator, pointing out times when Bitcoin's price might be overheating and approaching its peak within significant market cycles.

👀 An increase in the VDD Multiple suggests a substantial volume of Bitcoin is being moved into the market, possibly for sale.

🗒 Previously, in January 2021, the VDD Multiple exceeded 4, coinciding with Bitcoin reaching $40,257.

👌 Despite this surge hinting at a potential market cool-off, it didn't lead to a downturn. Instead, Bitcoin's value experienced a remarkable ascent. In just two months, its price surged by 52.2%, hitting $61,283 in March 2021.

With only nine days left until the Bitcoin halving 🙀, the cryptocurrency has already exceeded the levels seen before previous halving events.