BarnBridge (BOND) price remains in the slump as the project’s future remains uncertain. BOND crypto is the native asset of BarnBridge, which is an interest rate swap DeFi protocol. The token is currently trading just a few cents above its all-time lows.
BOND price is currently hanging by a thread as it is hovering around a critical support level of $2.175. On Thursday, the DeFi token plummeted by 2.15% after a 3.6% rise in the last trading session. The weakness in Bitcoin has increased the selling pressure on the altcoin.
BarnBridge Gets Suspended From Coinbase
In July 2023, the Securities and Exchange Commission (SEC) of the United States started its investigation on the team members of BarnBridge. This resulted in the stoppage of all the development work on the project, which was shared by the operational legal counsel on a discord page.
Since the SEC investigation, BarnBridge price has suffered a lot, and the token has lost more than 25% of its value. Recently, Coinbase also suspended the trading of BOND coin on its platform, which solidified the downtrend.
BarnBridge Price Prediction
Under the leadership of Gary Gensler, the SEC has initiated a crackdown on digital assets. The regulator has sued multiple top-tier crypto companies and projects. Despite its recent court loss against Ripple, the regulator remains committed to making things difficult for blockchain firms.
BarnBridge price prediction is looking very bearish as the project had already lost most of its TVL before the SEC investigation. The total locked value of the protocol, which once stood above $550 million, has now plummeted to only 656,000. A breakdown below the $2.175 support level will be the final nail in the coffin for the bulls.
I’ll keep posting my updated SEI coin along with my personal trades on Twitter, where you’re welcome to follow me.
