Every week we are here to tell you about the main news of the week. We are happy that our subscribers sincerely wait for our weekly digest and are interested in the events of the crypto world. 

Let’s have a little introduction to this week. The bitcoin price didn’t changed much this week, but there was a little buzz on Thursday and the price climbed to $38k, but by the end of the week it returned to its previous levels. Naturally, there are two main reasons for Bitcoin’s rise: 1) Data released by China this morning showed that the producer price index (PPI) (also known as factory inflation) rose 9% last month – the largest year-to-year rise since September 2008). 2) The Parliament of El Salvador approved cryptocurrency as a legal tender.

Most users note that the fall of Ethereum is especially disappointing because most believe that it has a lot of development potential. For example, co-founder of Reddit Alexis Ohanian spoke about this:

“I think that Ethereum has a huge potential for growth in the next 1-2 years. NFTs are just the start of what is getting built on top of the Ethereum blockchain, and that’s where a lot of my holdings are candidly,”

The value of Bitcoin is hovering between $35-36k, and Ethereum is holding at around $2300-2400.

This week, some public figures have spoken out about Bitcoin and the crypto industry:

  • The head of the Gemini cryptocurrency exchange, Tyler Winklevoss, called bitcoin “gold 2.0” and said that in the next five years, the price of the asset would rise to $500,000. 
  • The President of El Salvador announced that he would grant citizenship to everyone who invests 3 BTC in the country’s economy.
  • Well-known businessman Kevin O’Leary said that nothing can replace Bitcoin.
  • A leading White House technology expert holds between $1 million and $5 million in Bitcoin.

Of course, just words are not enough to break through the ceiling now and see significant changes in the attitude towards cryptocurrencies. But such statements undoubtedly increase public interest in the new financial instrument. I would like to believe that everyone will be able to own a cryptocurrency freely in the future, and states will accept this currency equally. Okay guys, the intro is over, now let’s move on to the top news in the world of cryptocurrencies. 

Buckle up!

1. Despite minor changes in the bitcoin price, the capitalization of BTC is greater than that of such market giants as Tesla, Visa, Mastercard, Samsung, PayPal, Alibaba.

Crypto News Weekly Digest 5 - 12 June

2. Grand Theft Auto (GTA) 6 will launch an in-game payment with a fictional cryptocurrency or Bitcoin. The franchise has now shipped more than 345 million units worldwide. The emergence of a “Bitcoin GTA” or other fictional cryptocurrencies may increase public awareness of the real-world crypto space.

3. The largest password leak in history occurred with 8.4 billion records. As a result, all Internet users may be under attack, writes CyberNews. 

4. It’s been said that the NFT has deflated. Frankly, that’s crazy. The world auction record for a single CryptoPunk was recently broken. Sotheby’s auction house sold off a rare NFT “Alien” #7523 from the CryptoPunks collection for 4520 ETH ($11.9 m.)

5. The European Championship 2020 starts on Friday. While the crypto market sleeps, the fan tokens of the football segment have been tearing it. Most tokens are have risen greatly in price, the token of the Chiliz blockchain platform (CHZ) even grew by 38.44% during one day.

Crypto News Weekly Digest 5 - 12 June

6. Of course, Lumi Wallet has its own news! First, LUMI added BNB to the Web Platform. Secondly, a new token – Gitcoin – is now available in our app.

7. This news quickly flew across all media: Jack Dorsey may allow Lightning Network (LN) integration into Twitter or Bluesky.

The Lightning Network (LN) is a second-tier solution deployed on top of the leading blockchain to provide instant transaction processing.

8. A little about the banking system. The Texas Department of Banking has issued a notice confirming that state-registered banks can store cryptocurrency on behalf of customers.

Also, one of the oldest US banks, State Street, which controls assets worth more than $40 trillion, is creating a cryptocurrency trading unit. 

And of course, the Central Banks of France and Switzerland will test cross-border transfers in cryptocurrencies. The pilot will be attended by banks UBS, Credit Suisse and Natixis.

9.  It seems that the Indian government has moved away from its previously hostile stance towards virtual currencies and will most likely soon classify Bitcoin as an asset class. So representatives of the Indian film industry are already negotiating with the Ministry of Finance to develop a new set of rules. A group of experts is studying this issue in detail. 

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!