15.06.[News of the day] • ETH recorded a record institutional outflow of $ 12.7 million • and other articles
4 min readTable of Contents
Welcome to today’s overview of crypto news:
MARKETS
About a week ago, the situation with the primary cryptocurrency seemed significantly less optimistic. The asset fell to $ 31,000 due to another FUD from China and Elon Musk. At that moment, however, the bulls increased their pressure and gradually began to push BTC up. It stabilized around $ 35,000, but positive news from El Salvador affected the price even more.
It all culminated yesterday after praise from Paul Tudor Jones III. and MicroStrategy’s plans to purchase up to $ 1 billion worth of assets. Within hours, BTC had jumped several thousand dollars, regained $ 40,000 and climbed to a new high on May 21 at $ 41,000.
The Altcoins lagged behind at first, but like their leader, made significant gains. ETH is 5% higher today and is trading above $ 2,600.
Cryptocurrencies
The difficulty of BTC mining fell twice in a row to a new low of 2021
On June 14, the difficulty of BTC mining fell by 5.3% to 19.93 trillion at block 687456. This was the first time this year that two consecutive downward adjustments had been made, and also the first time that the difficulty had dropped below 20 trillion .
During the difficulty adjustment period from May 30 to June 14, the average network hashate was only 142.68 EH / s, which is the lowest level this year, according to BTC.com, and 5.18% less than in the previous difficulty adjustment period.
Several regions in China have recently announced mining bans. The government of Changjiang City in Xinjiang has ordered the closure of all crypt-mining farms. The Qinghai Province government has also ordered all miners in the province to close down. Some sources say that the closure of mining farms is also planned by the province of Yunnan, although according to official sources, miners will be threatened with closure only if they use electricity without a permit.
ETH recorded a record institutional outflow of $ 12.7 million
According to a report by CoinShares, Europe’s largest digital asset investment company, ETH saw the largest institutional outflow in history last week, while the outflow from BTC eased.
After two consecutive weeks of positive investment inflows, institutional investment in Etherea products declined last week, with a total outflow of $ 12.7 million.
BTC outflows fell sharply to $ 9.9 million last week from $ 141.4 million in the previous week, with trading activity up 43%. Another BTC upgrade, Taproot, was confirmed on June 12 and will take place in November. The upgrade will help streamline BTC transactions, increase their privacy and scalability.
Banks, crypto exchanges, companies
A real estate company in Miami accepts cryptographic deposits for apartments after the conference
Miami-based E11EVEN Hotel and Residences claims to be the first real estate company to allow deposits for the purchase of real estate in the form of cryptocurrency.
In an interview with Fox Business, co-founder of the company and housing project Marc Roberts said that the enthusiasm for cryptocurrencies is “really overwhelming”.
Roberts noted that local interest in cryptoactive assets had grown amid the recent BTC Miami conference in early June, which the organizers said attracted about 50,000 people.
He noted that there had been a “huge response” to the announced E11EVEN support for the crypt, and the company added that it had already withdrawn its first deposit in the crypt before officially announcing its acceptance of digital assets.
Goldman Sachs will offer futures and options on ETH
Goldman Sachs plans to offer futures and options contracts on Ethereum (ETH), according to its head of digital assets.
The multinational investment bank Goldman Sachs offered more information about its cryptocurrency services. The bank intends to offer option and futures contracts for the second largest cryptocurrency on the market, ETH. Bloomberg first informed about it on June 14, stating that the company plans to move outside of BTC.
Matthew McDermott, head of digital assets at Goldman Sachs, uncovered the report, saying the bank plans to facilitate trading through exchange-traded bonds that track BTC. [3b]
CBDC, Regulation
Thai regulators have banned exchanges from trading meme tokens and NFTs
According to the Bangkok Post, digital asset platforms can no longer trade meme-based tokens, non-fungible tokens (NFTs) and exchange-issued tokens in Thailand after being banned by the Securities and Exchange Commission on Friday.
Ruenvadee Suwanmongkol, Secretary General of the SEC, said exchanges are prohibited from trading in assets with the following characteristics: they do not have clear targets and their prices are influenced by social media, assets tokenized by influencers or fan-based tokens, any tokens that they are unique and cannot be confused with other digital tokens of the same type, and are any tokens used in a blockchain transaction that are issued by digital asset exchanges.
The spread of unregulated cryptocurrencies is “a cause for concern,” says the Italian regulator
According to the head of the Italian stock exchange regulator, the continued spread of cryptocurrencies without thorough regulation is a cause for concern.
Paulo Savona, chairman of the Commissione Nazionale per le Società e la Borsa (Consob), said cryptocurrencies could potentially damage the way the market works. He added that they could even impair the ability of central banks to conduct monetary policy. In addition to these concerns, he expressed similar nostalgia for their ability to facilitate illegal activities such as money laundering.
“Without proper supervision, market transparency, the basis of legality and the rational choice of (market) entities could deteriorate,”
– said Savona.
Binance Futures Guide – Long, Short with up to 125x levearge! Bonus for Cryptheory readers!
