Bukele breaks his silence

President Bukele still believes in Bitcoin's potential. Market Activity Total Market Cap 902.62B (+5.78%) 24 Hour Volume 80.69B (-13.46%) Notable Movers[(AAVE) $59.87]( (+19.99%) Notable Movers (DeFi)[(SNX) $2.62]( (+58.42%) Bitcoin Dominance 43,38%[(+0.32%)]( Bitcoin Price[(BTC) 20,564.35 (+6.52%)]( Ethereum Price[(ETH) $1,124.73 (+9.20%)]( Cardano Price[(ADA) $0,4937 (+7.51%)]( Editor's Note The Market Is Doge It’s another Monday, it’s another market crash, and it’s another day of Elon Musk buying DOGE. Over the weekend — amid his Father’s Day posts about the “sterilization” of civilization — Musk took to Twitter to remind us all that he will keep supporting and buying Dogecoin. Just in case you were still wondering. Elon already has a lot going on. His Twitter takeover is moving quite slowly as he investigates the number of spambots on the site, he has seven children to celebrate Father’s Day with, and he was hit last week with a $258 billion lawsuit over his allegedly misleading support of the dog-themed memecoin. What do we think, is Musk’s latest DOGE tweet — “I will keep supporting Dogecoin” — a direct response to this lawsuit? The lawsuit alleges that investors were defrauded by the “Dogecoin pyramid scheme” after Musk actively promoted the coin on Twitter and then called it a “hustle” on Saturday Night Live. Dogecoin co-founder Billy Markus has said “the lawsuit is obviously stupid as f***.” The dog coin is down over 90% from its all-time high. Elon Musk tweeted on June 19 that he is still buying DOGE. DOGE jumped almost 11% over the past week. Bitcoin dropped under $20,000 briefly this weekend. There’s a heat wave coming across Europe. Oh, I thought we were just listing things that we have no control over. I think that we have all learned the lesson by now that Musk will continue to tweet whatever he wants, whenever he wants, regardless of what the SEC, class-action lawsuits or probably his social media team want him to do. As the crypto market continues to crash, Elon will apparently continue to buy Doge, tweet about it, and move prices a bit up for the dog currency. And it doesn’t look like there’s anything anyone can do about it. Today’s Top Stories Check out [CoinMarketCap Alexandria]( for tech deep dives, analysis, daily news and easy-to-understand guides on how crypto works! [Today’s Top Stories ] wild weekend]( 😱 BTC suddenly plunged below $20,000 on Saturday— with thin weekend trading volumes sparking new depths of $17,700. On Sunday, Glassnode warned the past three consecutive days had sparked the biggest dollar-denominated realized loss in Bitcoin's history — with $7.3 billion in losses locked in by investors who offloaded coins they had acquired at higher prices. The company warned that the conviction of investors is "seriously being put to the test" right now — and when BTC touched $17,700, just 49% of BTC's supply was in profit. "Historical bear markets have bottomed and consolidated with between 40% and 50% of supply in profit," Glassnode added. BTC secured double-digit gains and mounted an impressive recovery on Sunday — but stopped short of cracking $21,000 on Monday. speaks out]( 🚨 One person who hasn't been all that vocal about Bitcoin's movements in recent weeks is Nayib Bukele. El Salvador's president has attracted attention for regularly buying BTC's dips, but estimates suggest that his country's investment has lost over $50 million since September 2021. Bukele broke his silence on Sunday, and sought to adopt a reassuring tone for followers who were nervous about the state of the market. He wrote: "I see that some people are worried or anxious about the #Bitcoin market price. My advice: stop looking at the graph and enjoy life. If you invested in #BTC your investment is safe and its value will immensely grow after the bear market. Patience is the key." offers update]( ❄️ Celsius Network has warned it will take time to stabilize its operations — one week after the crypto lender abruptly halted withdrawals, swaps and transfers. The embattled project said it is maintaining an open dialogue with regulators and officials, but it's come under fire for failing to offer regular updates to customers who fear they'll never get their crypto back. In a statement, Celsius Network added: "We are pausing our Twitter Spaces and AMAs to focus on navigating these unprecedented challenges and seeking to fulfill our responsibilities to our community. Acting in the interest of our community remains our priority and we will continue to work around the clock." still buying DOGE]( 💰 Elon Musk has declared he will "keep supporting Dogecoin" despite the memecoin's value plunging substantially in the past year — and revealed that he's continuing to buy the cryptocurrency. The billionaire's posts may have been related to a recent lawsuit that sues him, as well as Tesla and SpaceX, for a whopping $258 billion. Musk's tweet helped contribute to an 11% surge in the value of Dogecoin in the early hours of Sunday morning, helping to prove that the world's richest man's musings can still have an impact on the altcoin markets. But there's a danger this could pour fuel on the fire of the legal action brought by American investor Keith Johnson. avoids PR disaster]( 😬 A Solana-based lending protocol has averted a PR disaster. Solend had approved a proposal that would have given it "emergency powers" to gain access to a whale's wallet and prevent liquidations. It had said the user's "extremely large margin position" put its project, and other users, at risk. Some critics said this proposal went against the values of DeFi — and it might have been downright illegal to control someone's funds this way. Solend later introduced a second governance proposal that allowed a U-turn to be performed, ensuring the whale's account wouldn't be taken over. Thanks for reading! Have a great day — more news tomorrow! [Facebook]( [Twitter]( [Instagram]( [Telegram]( Written by Molly Zuckerman and Connor Sephton Was this email forwarded to you? [Sign up here](. WANT MORE CRYPTO BITES? [Sign up here]( for Daily Newsletters, Promotions and Events and Prices [App Store]( [Google Play]( [ADVERTISE]( | [CAREERS]( | [FAQ]( © 2022 CoinMarketCap [Unsubscribe]( [coinmarketcap.com]( %SENDER-INFO-SINGLELINE%