Analysis Crypto by Thebittimes.Com

The crypto markets churned out ‘overnight superstars’ between 2020 and 2021 during the bull market rally that saw Bitcoin reach its all-time high of $69,044. New meme-coins, altcoins, and DeFi tokens sprung up like mushrooms creating a fan base of their own. The year 2021 created ‘superstar’ crypto s with a larger-than-life fan following that reached the pinnacle of fame. However, the sun must set after it rises. As the saying goes, ‘what goes up must come down’ hit these ‘superstar’ cryptos much faster than previously imagined. In this article, we will highlight the top 3 cryptos that lost their hype in 2022 compared to 2021. Also Read: Shiba Inu: AI Predicts SHIB Price For December 31, 2022 These 3 Cryptos That Lost Their ‘Hype’ in 2022 1. Safemoon (SFM) Source: Pixabay Safemoon had an online army of its own in 2021. Any criticism of the DeFi token on social media was faced with wrath from the SFM community. The DeFi token ...

South Korean Authorities are having trouble building a strong case against Terra founder Do Kwon. According to a report by Bloomberg, the lack of regulations is giving way to disputes on how the Terra tokens should be treated. Recently, the prosecutor’s office requested that a person connected to the Terraform Labs ecosystem be detained. However, the court denied their request. The judge ruled that it is still up for debate whether the defendant actually broke the South Korean Capital Markets Act, despite what the prosecutors claimed. The prosecution implied that it is working hard to prove the case, seemingly citing the cases’ challenges. The authorities insist that the lack of precise regulations does not imply that the investigations are over. Where is the Terra boss, Do Kwon? Terra chief, Kwon, is accused of violating the Capital Markets Act, although he denies any wrongdoing. Interpol, as well as local South Korean authorities, have an arrest warrant in Kwon...

The downfall of Terra created quite the chaos in the market. But, it also occurred several months ago. Despite the foregone event, it continues to remain a prominent topic of interest. This is primarily due to the project’s founder Do Kwon . While the South Korea n government and Interpol are on a hunt for Kwon, he has time and again claimed that he wasn’t on the run. Amidst all of this, South Korea ’s foreign ministry has urged the Terra founder to return his passport. As per recent reports, the South Korean government has given Kwon a total of 14 days to submit his passport. If Kwon fails to do so his passport would be “administratively invalidated.” The notice said, “Our Department would like to send a ‘Notice of Order for Return of Passport’ to you by registered mail.[…]we inform you that the validity of your passports will be invalidated and administratively invalidated.” In addition, the government believed that K...