The summer season in crypto markets of 2021 took off even hotter than all the years before . New prospects in adoption bring new challenges in finance and regulatory frameworks. Let’s look back at the major events of June and see what we can learn from them.
In June 2021, our experts discussed the following topics:
- Trends and opinions
- CEX.IO news
Get yourself comfortable and prepare for catching unique insights!
As the crypto space gained a reputation for scams and criminal activity, legitimate exchanges needed to step up their protocols. These help ensure protection for customers and avoid implication by the exchange itself in possible illegal enterprises. For the crypto market, however, different countries expect different protocols. This can be a challenge for exchanges operating multi-nationally. For Mark Taylor, adapting traditional security measures for crypto or any new industry is not perfect. As he explains, if they are the agreed-upon method, then it is necessary for regulatory standards.
Cryptocurrencies have become a hot topic over the past several years, with the global blockchain market expected to hit approximately $23 billion by 2023 and the total market size for cryptocurrencies expected to hit more than $1 billion by 2026. Konstantin Anissimov points out that cryptocurrencies are notoriously volatile, but they have recently surged in value as their public interest grows.
Trends and opinions
With a nearly 99.99% uptime and only two network outages in its 12 years of history, Bitcoin competes with leading cloud providers as one of the most reliable and resilient web services. For that reason, Yuriy Mazur believes that it would not be wise to make drastic changes to how Bitcoin secures its network. The more productive approach would be to focus on the energy mix used by the Bitcoin power their equipment.
The Tesla CEO’s tweet which showed a Bitcoin sign next to a broken heart emoji could have been interpreted as fairly cryptic, but within minutes the crypto market responded by plunging into a sea of red, as close to $100 billion departed the global market cap. Konstantin Anissimov noted: “I feel at some point the crypto market will grow independent of influence from influential people like Elon irrespective of their large follower base on Twitter and only bow to influence from regulators and happenings in the global and international market.”
On June 7, MicroStrategy announced the launch of the aforementioned private offering, initially stating that it was looking to raise around “$400 million aggregate principal amount”. Konstantin Anissimov told Cointelegraph that the consistency with which MicroStrategy has continued to amass Bitcoin has been contagious, to say the least. In his view, the $500-million bond strategy is a means of emphasizing the company’s highly futuristic outlook.
2020 was a rejuvenating year for crypto markets, with robust growth and resilience in the face of upheaval. The lion’s share of trading in digital assets went to Bitcoin and Ether, but altcoins are nonetheless attracting more and more traders’ attention. Yuriy Mazur revealed the results of analyzing trading volumes on our platform between January and May. They showed that the top 5 most promising digital assets were the altcoins Ripple (XRP), Cardano (ADA), Uniswap (UNI), Zilliqa (ZIL), and TRON (TRX).
The market is still trying to recover from the notorious dip that occurred a month earlier. Bullish trends are showing up but quickly get exhausted. Meanwhile, Chicago Mercantile Exchange opened futures for BTC, and Ethereum price keeps rising despite the decrease in trading volumes. Find the latest analysis made by experts in the field in our monthly pick of the market analytics.
- Ethereum bull trap? ETH price signals breakdown versus Bitcoin
- Bitcoin price drops 10% over the past week: Is another drop coming?
- Bitcoin price surges: cryptocurrencies soar amid bull market hopes – BTC, ETH and DOGE up
- Bull trap fears engulf Bitcoin market as BTC paints CME gap below $40K
- Bitcoin’s key momentum metric hints at bullish divergence as BTC clings to $33K
CEX.IO, announced a new partnership with the prominent luxury jewelry and watch manufacturer Jacob & Co. As part of the two companies’ cooperation, Jacob & Co. will onboard digital asset payments for its products. Cryptocurrency transactions will be powered by CEX.IO’s digital asset payment gateway solution – CEX.IO Pay. Initially, the luxury items creator will allow its customers to pay with Bitcoin and Ethereum, with more cryptocurrencies to follow. It will take customers only a few steps to settle an order with crypto. Upon selecting a product, the system will determine its price in crypto equivalent. Afterwards, the buyer scans a QR code via his smartphone to settle the order via a cryptocurrency payment.
CEX.IO has partnered with Fortune 500 company Fidelity National Information Services Inc (NYSE: FIS) to introduce a crypto-based debit card service. Soon, clients of the platform will be able to purchase crypto without losing time due to transfers between the crypto and conventional finance industries. They will also be able to do this in their local currencies.
- CEX.IO details new crypto-based debit card service
- CEX.IO intends to issue crypto-based debit cards via a new partnership
Business Insider made a detailed review on our spot trading platform CEX.IO, along with a comparison to another exchange, the overview of products and services, fee structure, geographic restrictions, coins, and tokens selection.
Dips and rallies may happen in the crypto markets and it’s always good to dive into news and analytics to understand what happens and why. Keep following our monthly media recaps and don’t forget to share your opinion on our Telegram channel https://t.me/CEX_IO.
Next month we’ll be watching crypto events even more closely to deliver some fresh food of thought to you.
Your CEX.IO Team