Monthly Archives: June 2021

Bitcoin price bull run ‘starting to look like 2013’ after record red monthly candle

Long-term price forecasts based on stock-to-flow remain “intact,” said PlanB after last month’s record red candle. Bitcoin (BTC) may have just had its worst monthly candle in 10 years, but it could still surge to new all-time highs this year, said popular analyst PlanB. In a tweet on Tuesday, the creator of the stock-to-flow-based BTC price models said that Bitcoin is behaving like during its 2013 bull run. Stock-to-flow “intact” after May drop After its drop to $30,000 and several retests of that level, concerns are starting […]

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Major Indian Bank HDFC Says ‘It’s a Matter of Time Before Indian Investors Have Legal Access to Crypto Plays’

One of India’s leading private banks with 5,608 branches and 16,087 ATMs, HDFC Bank, has published a report stating that “it is just a matter of time before Indian investors have legal access to crypto plays.” This statement came as the bank scrutinizes crypto transactions in customer accounts. HDFC Bank Predicts Legal Acess to Crypto in India HDFC Bank, a leading private bank in India, published a Treasury Research report last week detailing its view on cryptocurrency. HDFC Bank currently has 5,608 branches and 16,087 ATMs across […]

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Bitcoin’s rising popularity will lead to more regulation, says Riksbank

Riksbank Governor Stefan Ingves says there’s “good reason to believe” that more regulatory oversight of cryptocurrencies is in the pipeline. Cryptocurrencies’ persistent growth and ever more mainstream adoption is keeping international monetary authorities on their toes.  In fresh comments this week, Stefan Ingves, the Governor of Riksbank, Sweden’s central bank, said that digital assets’ rising popularity raises the stakes for regulators, central bankers and lawmakers worldwide: “When something gets big enough, things like consumer interests and money laundering come into play. So there’s good reason to believe […]

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Bank account flows for South Korean crypto exchanges surge 40% since 2020

Upbit exchange paid 10 times more in fees to South Korean internet bank K bank Q1 2021 than in the previous quarter. As cryptocurrency markets grew in the first quarter of 2021, South Korean banks saw record volumes of deposits and withdrawals to local crypto exchanges. South Korean commercial banks processed 64.2 trillion won ($57.9 billion) of transactions on real-name bank accounts linked to crypto exchanges in Q1 2021, according to data from Financial Supervisory Service acquired by Democratic Party member Kim Byung-wook. The Q1 results comprise […]

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Veteran trader Peter Brandt sees Bitcoin crashing further after May’s 50% drop

Peter Brandt, a veteran financial analyst and trader, is questioning whether Bitcoin has more upside in the near term. Bitcoin (BTC) faces the prospects of falling further even after its price made a strong recovery after crashing from $65,000 to $30,000 in May 2021. So, it reflects in the latest statements from Peter Brandt, chief executive of global trading firm Factor LLC, who questioned, if not asserted, the longevity of the ongoing relief rally in the Bitcoin market, especially after a 50%-plus price crash. The veteran commodity […]

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Bitcoin and Ethereum fees slump to six-month low

Bitcoin and Ethereum transaction fees have declined down to $7.20 and 4.80 respectively. The transaction fees of Bitcoin and Ethereum have slumped to six-month lows as the markets cool after the recent crypto downturn. According to BitInfoCharts, the average price of performing a transaction using Bitcoin has fallen from an early-April all-time high of $62.77 to around $7.20 — an 88% drop over just six weeks.  Bitcoin average transaction fees – BitInfoCharts The falling Bitcoin transaction fees appear to have been driven by a decline in overall […]

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Southeast Asia’s Largest Bank DBS Launches First Security Token Offering on Its Cryptocurrency Exchange

DBS, Southeast Asia’s largest bank, has launched its first security token offering (STO) on its cryptocurrency exchange. The DBS Digital Bond is priced at 15 million Singapore dollars. “We expect asset tokenization to increasingly become more mainstream,” said a DBS executive. DBS’ First Security Token Offering DBS announced Monday its first security token offering (STO) on the DBS Digital Exchange (Ddex). The DBS Digital Bond, priced at 15 million Singapore dollars (US$11.37 million), comes with a six-month tenor and coupon rate of 0.60% per annum. It is […]

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Miami crypto conference predicts attendance exceeding 50,000

Miami is expanding as a crypto hub by hosting this year’s Bitcoin 2021 event. The Bitcoin 2021 conference in Miami has been touted as the largest Bitcoin event in crypto history, with organizers expecting a huge turnout. The event, running for three days from June 3 at the Mana Convention Center in Miami’s Wynwood neighborhood, will play host to a number of industry executives and personalities. Crypto luminaries scheduled for attendance include former congressman Ron Paul, MicroStrategy CEO Michael Saylor, pro-crypto Wyoming Senator Cynthia Lummis, Square co-founder […]

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Thailand to target DeFi in latest regulatory clampdown

A new DeFi yield farming platform in Thailand has rattled regulators. In their latest effort to regulate the cryptocurrency industry, Thailand’s financial regulators have turned their sights towards decentralized finance, or DeFi. According to a June 1 report from Bangkok Post, Thailand’s Securities and Exchange Commission (SEC) has announced that any activities related to DeFi may require a license from the financial regulator in the near future. The SEC specifically stated it will target DeFi protocols that issue tokens. The latest regulatory push comes after the launch […]

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Cryptocurrency Related Scams Flood Tribunals in Spain

Spain has not been a stranger to the popularity of cryptocurrencies, and with this popularity, also comes the attention of people and organizations wanting to capitalize on the subject. Spanish tribunals have been flooded lately with lawsuits involving cryptocurrency scams related to bitcoin and ethereum based platforms, and the people using these to scam other users for millions of euros. Cryptocurrency-Related Scams Flood Tribunals in Spain Tribunals from Spain are now being flooded with cryptocurrency scam-related cases, that are affecting thousands of citizens, according to local reports. […]

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