Bitbot excites bulls as Lido DAO and Ethena struggle
Lido DAO (LDO) and Ethena (ENA) are two of the biggest losers in the past 24 hours as the market reacts to the latest crypto regulatory news.
Despite this, optimism around Bitbot (BITBOT) is high as the community claims tokens after a successful presale.
Lido DAO (LDO) fell sharply after SEC sued Consensys
Lido DAO price hit another sell-off button on June 28 as LDO holders reacted to news of the US Securities and Exchange Commission (SEC) suing Consensys over its MetaMask staking offer.
The SEC alleges that Consensys has offered unregistered securities via its staking service, with Lido and Rocket Pool highlighted.
LDO price crashed 16% after the news, trading to lows of $1.85 from highs of $2.32. While Lido remains down 13% in the past 24 hours, it’s slightly up on the day as it hovers near $2.00.
Sentiment is largely bearish for Lido DAO at the moment, unlike when SEC dropped its investigation into Ethereum 2.0.
However, analysts are looking at the latest court ruling on secondary sales of crypto tokens as a hint at an inevitable path to clarity. Investors may want to watch out for developments around this.
Ethena (ENA) struggles amid 40% price dip
Ethena saw decent growth following its mainnet launch in February, with the native token of synthetic dollar protocol rising to an all-time high of $1.52 in April.
The protocol’s significantly high APY for USDe staking is among top rewards platforms within the broader Ethereum ecosystem.
In recent months, Ethena’s USDe has expanded to include re-staking on Pendle and Aave. Ethena also integrated with Symbiotic to bring ENA and sUSDe to the restaking platform.
However, ENA price has struggled since retreating from the peak reached in April.
In the past month, ENA has declined more than 40% – with price currently around $0.52. The SEC lawsuit against Consensys also added to the downside pressure and what happens around this case could impact ENA price.
Bitbot token claim opens as investor optimism rises
Bitbot (BITBOT) is a crypto project that recently opened claims for its native token following a successful presale.
As a Telegram-based cryptocurrecy trading bot, Bitbot stands out as the first to offer a non-custodial trading solution. The platform also integrates artificial intelligence (AI) to bring to the DeFi market a powerful automated bot.
Telegram is driving a new ecosystem within the crypto space as new projects add to the success of The Open Network (TON) blockchain, Toncoin and Notcoin.
Bitbot’s unparalleled focus on user security and privacy among trading bots also puts it at the top as traders look for the next opportunity.
This is because Bitbot will make trading crypto from within the Telegram app easy and secure, with access to advanced institutional-grade tools like trade sniping accessible on mobile.
Any benefits of holding BITBOT?
With BITBOT, holders will benefit from 50% share of trading fees and 50% of token sales taxes. The token also unlocks other perks such as access to the Gem scanner and exclusive token deals.
Ahead of Bitbot’s launch, token claims for the native token are live. The team announced this key milestone for the project on June 27 and buyers have aggressively connected to the official Bitbot site to get these.
The next phase is exchange listing and trading, which is likely to open up interest from more users. Demand and market visibility could see BITBOT price explode as the broader crypto market benefits from a potential bull run.
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