Boring Bitcoin Continues And Cuban Calls For Stablecoin Regulation

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Bitcoin trades at $35k this morning, and with that has been keeping within the $30k to $40k range for about a month now. Although you could state that this is a hopeful sign and we can not speak of a crash for crypto like we did back in 2017-2018. It is also quite boring for those of us used to the volatility and excitement of the crypto market.

With weekly price changes that go from 1 to 5%, we can make a comparison with the summer of 2020, when Bitcoin traded between $8,000 and $10,000 for some three months before finally breaking out. Looks like Boring summer of Bitcoin could be back. For the year, Bitcoin is up some 23%

Although Ethereum is falling faster than Bitcoin today, it still manages to easily remain above $2,000, showing an impressive 200% or so gain for the year.

Mark Cuban call for regulation

Meanwhile billionaire Mark Cuban, who earlier this week lost part of his crypto investments in an apparent rug pull, is calling for regulators to step into the stablecoin area.

BREAKING: Mark Cuban calls for more stablecoin regulation after trading DeFi token that crashed to zero https://t.co/aAHwPWXFyp $TITAN

— Joe Weisenthal (@TheStalwart) June 17, 2021

Speaking in reaction to the Titan debacle, he stated:

There should be regulation to define what a stablecoin is and what collateralization is acceptable. Should we require $1 in U.S. currency for every dollar, or define acceptable collateralization options, like U.S. treasuries.

pic.twitter.com/72oO8UfxJz

— CMS : Blockfolio (@cmsholdings) June 17, 2021

As was to be expected, cryptofans were not amused with Cuban’s demand for more intervention in the market.

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