Bitcoin and Ethereum Prices On Cusp of Igniting Sustainable Crypto Bull Run
The crypto market is on the verge of igniting a sustainable bull run. Bitcoin and Ethereum are on the verge of breaking through to new yearly highs, which could spark a more widespread crypto market rally in the coming weeks.
Bitcoin has continued its strong winning streak and spiked over 8.5% to $23,162. The second largest cryptocurrency, Ethereum (ETH), is also experiencing a significant rise as it has increased by roughly 5% to $1,655.
Despite the ongoing negative news from two major exchanges, Coinbase and Gemini, bitcoin appears to be ignoring all of the market turmoil this week.
In an effort to keep their class-action lawsuit against the cryptocurrency exchange Coinbase out of arbitration, a group of investors is keeping their account details secret.
They hope that their case will eventually be heard in an American court. Customers are alleging that Coinbase's security measures weren't very good and led to the loss of funds. They also allege that Coinbase is trying to avoid any compensations for their victims.
A plaintiff in the lawsuit had $6,000 of crypto funds illegally taken from his wallet and moved to an address that wasn't his. He also alleges that Coinbase did nothing to stop the hackers, who stole $1,000 from his bank account. Hence, the mass lawsuit can weight on the cryptocurrency market.
In addition to Coinbase, Gemini is also under the spotlight, causing a slowdown in the rise of the cryptocurrency market. A class action lawsuit claims the corporation breaches the Exchange Act. The Earn Program, through which Gemini pays its traders up to 7.4% interest, is at the crux of a lawsuit brought against the company and its founders in the US Southern District of New York.
When the program stopped accepting
Read more on cryptonews.com
