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.

Tim Draper predicted Bitcoin at $250,000 by the end of the year

🇫🇷 During Paris Blockchain Week, renowned venture capitalist Tim Draper offered his forecast on Bitcoin, predicting a substantial rise in its value by the end of 2024. He believes this surge will be driven by the introduction of spot exchange-traded funds (ETFs) and the expected Bitcoin halving.

🐂 Draper's bullish expectation combines these key market dynamics, envisioning a significant increase in Bitcoin's price. He suggests that the convergence of these factors could potentially elevate Bitcoin's value to $250,000 by the close of the year. Spot Bitcoin ETFs in the United States, according to Draper, have been crucial in drawing fresh interest and investments into Bitcoin.

💵 Moreover, he considers these ETFs as beneficial tools for investors aiming to broaden their investment portfolios and safeguard their assets against the devaluation of fiat currencies.

The upcoming Ethereum hard fork might eliminate the concern of losing private keys.

After the Pectra hard fork🍴, Ethereum might introduce a "social recovery" feature from EIP-3074, eliminating the need for seed phrases. Announced by Tim Beiko, this upgrade enhances Ethereum wallets by allowing asset recovery through smart contracts.

Users must transfer🚴‍♂️ assets to an invoker contract, which then facilitates transactions. This setup lets users recover assets without their seed phrase and even execute transactions without Ether in their wallet to send transactions, as the entity behind the invoker contract can pay 💵 for that upfrontpotentially simplifying processes like token swaps on Uniswap by batching actions into one transaction.

👆However, there's a risk of asset loss if assets are transferred to a malicious contract, though verified contracts are expected post-upgrade. The Pectra hard fork is anticipated in late 2024 or early 2025.