We meet at the end of the week to tell you, our dear users, what happened this week in the crypto world. The two major cryptocurrencies plummeted on June 22nd, with Bitcoin dropping to $28k and Ethereum to $1,730. Though, almost immediately the leading cryptocurrencies recovered to their already familiar state.
What influences the market so much? Why are investors talking about bearish influx? The story about Chinese restrictions on cryptocurrency relations is gaining momentum and miners are migrating, some to the USA, some to Kazakhstan.
All of Twitter, Reddit, and the crypto media are already talking about this. Currently, many cities in the United States are betting on Bitcoin. The Mayor of Miami has long stated that the city will become the center of cryptocurrency. And this week, the potential mayor of New York, Eric Adams, promised that if he is elected, the city will be the city for Bitcoin. And these are not all the examples that we can give.
In addition to the “Chinese nightmare,” another factor influenced the price: Traders transferred a record number of bitcoins to exchanges in one day (21.06.21) since March.
While the crypto market is sleeping, the bulls definitely cannot sit still, and have been talking about their predictions about the first cryptocurrency.
- SEC Commissioner Hester Pierce expressed support for the DeFi sector and opposed the SEC’s enforcement approach against industry participants.
- Famous crypto blogger PlanB gave the worst-case scenario for 2021 for Bitcoin (price/on-chain based): Aug> 47K, Sep> 43K, Oct> 63K, Nov> 98K, Dec> 135K
Now the main news of this week:
1. John McAfee was found dead in jail on June 24th. He was considered one of the most ardent crypto-optimists. Several charges were brought against him by the US authorities, and he was serving his sentence in a Spanish prison. On Twitter, most of the talk was about the promise he made in the event of his death. 2 years ago, John McAfee, suspecting his possible elimination, said that 31 terabytes of incriminating information about corruption in the highest circles of the US government would become available in the case of his death!
Should we expect a sensation? No one knows.
2. Sotheby’s will put a rare diamond up for auction in Hong Kong, and will accept bids in fiat, Bitcoin and Ethereum. Now, not only NFTs will be traded for cryptocurrencies.
And speaking of digital art, Reddit has put its own collection of NFT tokens up for sale on OpenSea. And it’s really cool!
3. Goldman Sachs completed its first transaction using the private blockchain network JPMorgan.
4. Paraguay plans to make Bitcoin a means of payment in the wake of El Salvador becoming the first South American country to do so. At the same time, Japan’s chief financial regulator registered Coinbase as a cryptocurrency exchange service provider in the country.
5. Lumi Wallet added three new cryptocurrencies to their app this week: Cartesi, Student Coin and Front. Now our community is even bigger and more friendly!
6. This news went unnoticed, but is no less important than everything else. In a new report, UN experts believe that cryptocurrencies and blockchain can improve our stewardship of the environment.
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!