Global #cryptocurrency

Binance, a leading cryptocurrency exchange, has ceased allowing cash payments for peer-to-peer (P2P) cryptocurrency transactions in India. This means that users in the country can no longer purchase or sell supported cryptocurrencies using cash deposits or receipts.

In recent months, the cryptocurrency market has witnessed a surge in impressive trading successes, resulting in remarkable rags-to-riches stories for savvy investors.

Despite the recent approval by the US Securities and Exchange Commission (SEC) for several spot Ethereum ETFs, South Korean investors are still waiting for similar opportunities to arise.

The Nigerian government's handling of cryptocurrency is generating confusion and discontent among investors. The Senate Committee on Capital Markets in Nigeria has advocated for cryptocurrency regulation to safeguard investors and bolster the domestic economy.

On June 3, OKX, a prominent global cryptocurrency exchange, made its official debut in the Netherlands, unveiling a dedicated trading platform and a Web3 wallet tailored for the local market.

A crypto analyst has made a bold prediction regarding Bitcoin, suggesting that the cryptocurrency is on the cusp of a major surge in price. Renowned for his accurate macro Bitcoin forecasts, the analyst, known as TechDev, has highlighted the current narrow trading range of Bitcoin, which he claims hasn't been seen in eight years.

According to crypto trader Peter Brandt, Bitcoin (BTC) is currently experiencing a downturn, with its price at $68,589. Brandt suggests that based on the trajectory of previous post-halving bull markets, Bitcoin could potentially peak between $130,000 to $150,000 in late August to early September.

Hong Kong, a prominent financial center increasingly interested in cryptocurrency, is witnessing significant regulatory changes. The Securities and Futures Commission (SFC) has taken decisive action, compelling unlicensed crypto enterprises to leave the market and imposing stricter regulations on those applying for licenses.

A recent report reveals a significant surge in the global adoption of digital currencies. The number of individuals who own and actively use digital currencies has risen to 562 million, surpassing the previous year's figure of 420 million in 2023. This indicates that approximately 6.8% of the world's population is now engaged in the utilization of digital currencies.

In a notable move, Tether, the issuer of the popular stablecoin USDT, has invested $100 million in Bitdeer Technologies Group, a US-listed Bitcoin miner owned by Chinese billionaire Jihan Wu. The deal also includes the option for Tether to acquire an extra $50 million worth of shares within the next year, further solidifying its foothold in the Bitcoin mining industry.

The debut of spot Bitcoin ETFs in January 2024 marked a significant turning point for the cryptocurrency market, according to experts like Lynn Martin, president of the New York Stock Exchange Group. These exchange-traded funds are being hailed for their role in boosting liquidity and driving wider acceptance of cryptocurrencies among the general public.

A recent uptick in the number of Ethereum addresses holding 10,000 ETH or more indicates a significant shift from asset distribution to accumulation. This trend reflects growing confidence among large investors in Ethereum's long-term viability.