Hello everyone, one more week behind us. For two months, Bitcoin has not risen above $41k. Maybe bears came to the market? However, Bitcoin maximalists won’t be silenced and keep the market position tightly in check day after day. At the time of writing, Bitcoin is hovering between $31.5k and $32k. Market Dominance of BTC is 45.98%
There is now a new trend: investors have again begun to accumulate the first cryptocurrency. Experts from Glassnode spoke about it. BTC reserves on centralized exchanges have now dropped to April levels when Bitcoin was above $60,000.
The same situation is happening with Ethereum. Over the week, the price of ETH fell slightly, but still held at at least $1,700, and it also has not fallen below this level since mid-March 2021. The current Market Dominance of ETH is 17.20%
It is impossible to assess the success of a particular cryptocurrency only by the growth in the cryptocurrency price, and the second cryptocurrency proves this. In the second quarter of 2021, Ethereum processed $2.5 trillion in transactions. This is +65% over the previous quarter and +1.490% over the same period last year.
And the last fact that concerns the entire crypto market – as of today, the Total Crypto Market Capitalization and Volume have almost doubled since the beginning of 2021.
And now for the main news of this week!
1. TikTok introduces a ban on cryptocurrency content.
TikTok was at the center of the Dogecoin (DOGE) hype in 2020, with users sharing videos in an attempt to get the world’s attention to support DOGE. There have also been high-profile discussions of financial markets on other social media sites in recent months, with discussions of stocks becoming visible on Reddit as well. But so far, Reddit has not introduced a ban on the distribution of content about cryptocurrency.
By the way, speaking of DOGE, there are a couple of pieces of news related to this cryptocurrency. First, the founder of Dogecoin stated that the crypto industry is run by a rich man’s cartel, with early Bitcoin enthusiasts making their fortunes by evading taxes.
Secondly, Elon Musk joked about Doge on Twitter again, but the altcoin did not react to his jokes. There was no pump of DOGE because of one tweet from Elon. Maybe everyone is already acclimated to his attention and are not being led by provocations? No one knows.
2. British police have been celebrating New Scotland Yard’s greatest achievement for several days. London police have confiscated $250 million worth of cryptocurrency. The Economic Crimes Unit carried out the operation as part of an investigation into an international money laundering scheme.
Congratulations to the London police on the new record! Readers are only concerned with one question: where will the confiscated assets go?
3. The largest bank in Thailand is ready to work with DeFi. Siam Commercial Bank, the country’s oldest and largest bank, believes DeFi has everything traditional finance has today. Its integration into traditional banking will result in faster transaction times, lower costs and increased transparency.
Back in February, the bank’s venture capital arm launched a $50 million fund to invest in DeFi startups that it believes will help shape the next generation of financial services.
4. What’s up with China? We’re touching on the topic of attacks on Binance. Regulators continue to stifle the world’s largest stock exchange. The Italian Commissione Nazionale per le Società e la Borsa (CONSOB) has warned consumers that the Binance cryptocurrency exchange is not authorized to provide investment services and operate in the country.
Regarding Binance’s relationship with Visa and Mastercard, the companies are not currently refusing to cooperate with Binance, despite pressure from regulators.
Visa said it is aware of the recent statement of the Financial Conduct Authority (FCA) regarding Binance and is in constant dialogue with the marketplace to keep track of the latest developments.
Mastercard said that they’re continuing to monitor the situation, including how the exchange fulfills its regulatory requirements.
However, on Friday, Binance said it would end support for tokenized shares. Users have 90 days to sell.
Plus China introduced a new ban on crypto. Now about 90% of bitcoin mining in China has stopped working. Bitcoin fell to $31k, but recovered to $32.4k in an hour. What will happen after 100% of bitcoin mining is gone from China? You can send your answers to us at [email protected] We will make our own predictions about this.
5. News from the LUMI Wallet company. Perhaps the most important thing that happened this week is that LUMI is back on Twitter. On June 25, Twitter blocked LUMI’s account. We provided all the necessary data confirming that our company did not violate the Twitter rules and justice was done. So, we’re back on Twitter. Subscribe and follow LUMI news. We also publish the most exciting news from the crypto world all week! In addition, we have added two new tokens to our app, CQT and WOO. Finally, our team welcomes two new members of the LUMI family.
And soon our users will be treated to another cool update that you have been asking us for for a long time! Just a little bit is left and we will tell you everything!
6. Jack Dorsey launches a new blockchain project. Twitter CEO announced the creation of an open source platform in the format of decentralized finance, which will be available to third-party developers and enterprise products.
Dorsey has not yet revealed all the details of the future project, promising to soon describe them in upcoming accounts on Twitter and GitHub.
7. How can you combine a love for watching movies and a love of cryptocurrencies? Easy! Even if you are not a dedicated fan of Ethereum, the history of its creation may seem quite interesting to you. A documentary is going to be shot about Ethereum and Vitalik Buterin. Ethereum: The Infinite Garden will include interviews with various people involved in the development of the blockchain, including co-founder Vitalik Buterin, and Aya Miyaguchi, CEO of the Ethereum Foundation.
This is all the main news of the week so far. Stay tuned to our wallet, enjoy the usable interface and transaction security, and check back for updates and news on Twitter, Telegram, Facebook, Reddit, and LinkedIn. Let’s learn the cryptocurrency market together step by step!