Analysts believe that June could be a kinder month for Bitcoin and Ethereum, the two largest cryptocurrencies in the industry, which may be on the verge of resuming their upward trend. These and more news in this practical daily summary so that you are always informed with the most recent events that occur within the crypto world.
Cryptocurrencies and altcoins
📍The price of Bitcoin (BTC) is bouncing between $38.000 and $36.000. Analysts are pointing out that the cryptocurrency has entered a bullish phase over the past two days and a new bullish breakout may be about to begin. Crypto Ed, one of the most well-known traders in the crypto industry, points out that the bullish bounce can happen at any time as bitcoin is showing signs of strength.
However, JPMorgan analyst Nikolaos Panigirtzoglou believes that the fall in the value of bitcoin is not over yet, and that it is possible that it will reach $24.000 in the short term. At the time of this writing, BTC is trading at a value of $36.500 per unit.
📍In Ethereum (ETH), analysts believe that the cryptocurrency is preparing to experience a new bullish month, driven by the arrival of its next London update, which will activate the EIP-1559 improvement proposal to reduce commission fees on the network and will make ether an asset with a deflationary tendency. In addition, analysts point to the behavior of ETH since March of this year as a factor that can play in favor of the price increase of the cryptocurrency.
ETH is trading at a value of $2.600 per unit at the time of this edition.
Bitcoin and Blockchain Adoption
📍Four major investment firms launch Bitcoin and Ethereum ETPs on Euronext. The signatures WisdomTree, vaneck, 21Shares y ETC Group launched their Bitcoin and Ethereum exchange-traded products (ETPs) on Tuesday, bringing the total to 9 cryptocurrency ETPs available on Euronext’s stock exchanges. With this launch, WisdomTree, VanEck, 21Shares and ETC Group are expanding their cryptocurrency investment products to clients and investors trading on Euronext’s Paris and Amsterdam stock exchanges.
📍In Venezuela, the supermarket chain Bio Mercados began accepting cryptocurrency payments. Bio Mercados is partnering with a cryptocurrency platform to begin accepting cryptocurrencies and digital assets for payment of its products, reported a local media outlet. The supermarket chain joins the long list of businesses and service establishments that are adopting crypto payments in the South American country.
📍The NGO Bitcoin Argentina reports that it raised $40.000 during the celebration of Bitcoin Pizza Day. The president of the organization, Rodolfo Andragnes, said that the funds raised will be used to provide social assistance to some 1.400 families through the project. Swap.
NFT and DeFi Markets
📍The decentralized game Dark Forest allows its players to earn cryptocurrencies such as xDAI. On Twitter, programmer Blaine Bublitz reported that a new plugin had been integrated into the digital game, allowing players to earn xDAI as rewards for broadcasting planet locations, among other things.
Gaming ecosystems are constantly developing and increasingly allow their users to create real digital economies within them. Bublitz reported that the integration of this plugin is the beginning of a host of future innovations for game development.
Development and Technology
📍Lithium Finance will develop a new crowd-intelligence price oracle for non-publicly available assets. The DeFi protocol is raising funds in a funding round to boost the development of the new decentralized oracle. According to informs, Pantera Capital and Hashed led the funding round, raising $5 million to fund the project. Lithium Finance plans to bring real-world assets to DeFi, as the “final frontier for cryptocurrencies,” said Steve Derezinski, co-founder of the protocol.
Rules and Regulations
📍Starling Bank says deposits and transfers to cryptocurrency exchanges will resume by the end of June. The British bank, which blocked trading operations with cryptocurrency exchanges on May 30, says it will resume transactions by the end of the month, and that the measure was taken to protect its customers and users. A spokesperson for the bank said the bank is implementing additional and specific controls for payments to cryptocurrency exchanges, but that the measures are temporary, until June 23.
📍Stefan Ingves, governor of the Riksbank, Sweden's central bank, says there are very good reasons to regulate cryptocurrencies. Un report Bloomberg highlights Ingves’ statements regarding the regulation of Bitcoin and cryptocurrencies. The Riksbank governor highlighted the growth of crypto markets as a good reason for regulation. In his opinion, this growth has brought many things into play, such as “consumer interests and money laundering,” so cryptocurrencies are unlikely to escape regulators globally.
📍In Mexico, The Financial Intelligence Unit (UIF) requests that Bitcoin and cryptocurrencies be regulated by the National Banking and Securities Commission (CNBV) and not by Banxico. Santiago Nieto Castillo, head of the UIF said During the presentation of the book Prevention of Operations with Illicit Proceeds in Mexico, due to the magnitude and boom of the cryptocurrency market today, it is necessary for the CNBV to design a regulatory framework and a supervision model in accordance with this industry, so that Mexico recognizes cryptocurrencies and can advance in risk management, protecting its investors.
📍Thailand’s Securities and Exchange Commission has issued a warning about DeFi, arguing that it may be subject to securities laws. In a release, Thailand’s SEC noted that DeFi protocols, and in particular token issuance, can be regulated under existing regulations. The regulator states that token issuers and digital asset operators must be registered with the SEC and have a license authorizing their activities and products, according to the digital asset business emergency decree.
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