News

The latest legal filing isn’t just lawyerly posturing. No, it’s got real stakes: dissolve an injunction, liberate $125 million from escrow (because who doesn’t misplace nine digits now and then?), sling $50 million to the SEC as a “civil penalty” (read: tip jar), and hand the rest back to Ripple. The crypto-courtroom drama continues. Crypto Twitter watches, breathless, as Ripple and the SEC keep playing “who blinks first,” with the entire derivatives market spinning like a caffeinated roulette wheel in the background.

On Tuesday, June 17, the token plummeted 11%, landing at a daily low of $0.5311. That’s right, folks! It wiped out gains like a toddler with a crayon on a freshly painted wall. 🎨💥 And let’s not forget the gloomy market trend that’s making everyone feel like they just stepped in gum.

According to the wise sage of research, Lorenz Lehmann from GrowThePie, this zkEVM has been about as productive as a cat in a dog show. Since its grand rebranding, it has made little more than a ripple in the vast ocean of progress, now staggering under the weight of an annual loss that exceeds a million dollars. Ouch! 💸

As the market sways like a delicate reed in the wind, some brave souls see this as an excellent opportunity to dive into the crypto ocean, bargain hunting at what could be a “discounted” price (or is it just the calm before the storm?).

At its current woeful state, Sonic is enjoying its lowest point of the year, having pierced through a crucial structural support with the finesse of an elephant on a tightrope. Now, dear reader, we’re at a crucial crossroads. Will the bulls muster the courage to stand tall and defend? Or will we witness the full, unhinged spectacle of a bearish catastrophe? The signs, alas, suggest that the latter is all but a certainty. The pattern of lower highs, lower lows, and weak volume paints a rather fragile portrait. 📉