In a recent report by AllCoin Buzz, significant developments in the cryptocurrency industry have been unveiled. Lido State ETH’s recent accessibility for withdrawal has triggered a remarkable increase in the value of Lido’s native governance token. Moreover, Coinbase’s pursuit of regulatory clarity has garnered a response from the SEC, suggesting a careful and deliberate evaluation of the matter.
According to AllCoin Buzz, Bitcoin is currently focused on the $27,000 mark and traders are hoping that it would either exit its narrow range or touch a more significant level up or down for trade. Potential targets include the Gap in CME Futures created this weekend, with the CME Gap to the downside lying between 26.5 and 26.8 just below the overnight lows.
The video also focused on the Layer 1 blockchain Kava’s native token which has surged nearly 40% over the past week as its Network prepares to undergo a major mainnet upgrade. The Kava 13 upgrade would speed up transactions on the network and offer greater security when it goes live on May 17.
The network would also launch a new bridge that facilitates the transfer of assets from Cosmos to protocols across Cava. Despite the gains, Kava’s token price has begun trading down as early buyers are taking profits.
As for Coinbase, the SEC has issued a response to their complaint requesting that the agency establish regulatory clarity for the industry. In their response released Monday evening in New York, the SEC alleged that Coinbase has no right to mandamus, which orders a government agency to fulfill certain duties.
The SEC stated that deciding on the type of significant changes sought by Coinbase, which might influence both crypto assets and security markets in general, takes time. Coinbase initially filed its suit in response to a Wells notice that the exchange received in March 2023.
Finally, AllCoin Buzz reported that Lido has upgraded to its second version on Ethereum, setting Lido’s native governance token up 10 to 2.15 in the past 24 hours. Users could now unstake their St ETH and receive ETH at a one-to-one ratio, which takes about a day for most users if the execution on the beacon chain is empty. The maximum time that it might take for a validator to exit and withdraw from the staking queue stands at about 5 days.
