The average Atrium transaction fee fell below $ 1
According to EtherScan, the average price of Ethereum Transaction Fees has dropped below $ 1.
Less than a month ago, with Ethereum rising to an all-time high, Ethereum transaction fees were above $ 50.
According to experts, the decrease in activities in the field of defense and NFTs has had a significant impact on this decrease.
China State Agency publishes blockchain roadmap
The Central Cyber Security Bureau and the Information Committee of the Ministry of Industry and Information Technology of China (MIIT) have identified four key application areas for blockchain acceptance.
MIIT's five-item agenda for accepting the blockchain is part of a document presented Monday that details the guidance comments released to accelerate the development of emerging technology for industrial development.
As previously reported by the Cointelegraph, Chinese President Xi Jinping had previously called for the speedy adoption and approval of the blockchain in October 2019. This MIIT document describes this new technology as "an important part of the new generation of information technology" by presenting its argument for accepting blockchain.
According to the Ministry of Information Technology (IT), blockchain is among a host of new innovations such as big data and artificial intelligence that are vital to China's continued progress.
In this MIIT document, options such as economy, finance, industrialization and public services are mentioned as the main focus of blockchain development in the country.
According to MIIT, tracking, data sharing, and supply chain management are some of the uses for blockchain that can have a significant positive impact on the real economy. In the area of finance, MIIT is calling for more interaction between blockchain and other emerging technologies such as cloud computing, artificial intelligence and the Internet.
MIIT proposes to accept blockchain for public use, which includes concepts such as smart cities and the use of new technologies in government services. The document relies heavily on the immutability of blockchain-based offices in improving evidence-gathering mechanisms in areas such as judicial deposit, civil registration, and administrative law enforcement activities.
As part of its development goals, MIIT called for the establishment of at least three firms and blockchain industries in China. The document also mentions international cooperation, especially under the auspices of Belt and Road.
Although the MIIT document emphasizes the acceptance of blockchain, there is no general reference to cryptocurrencies or tokens. Beijing continues to crack down on cryptocurrencies, and Weibo has reportedly banned the accounts of some "virtual currency influencers."
MicroStrategy is about to buy another $ 400 million in bitcoins
According to a June 7 press release, MicroStrategy is trying to raise another $ 400 million by issuing and providing senior collateral to buy more bitcoins:
"MicroStrategy intends to use the net proceeds from the sale of these securities to obtain additional bitcoins."
In a recent case with the US Securities and Exchange Commission (SEC), the company also reported a loss of at least $ 284.5 million in value from its previous bitcoin purchases.
In February, MicroStrategy raised $ 1.05 billion and then used that 9-digit amount to buy more bitcoins in the same month.
The business intelligence company currently owns 92,079 bitcoins. The company has also formed a new subsidiary called MacroStrategy LLC to maintain its bitcoin wealth.
Bitcoin, with a slight drop of 1.31% in the news, is currently trading at $ 36,665 at the Bitstamp exchange. The leading cryptocurrency is currently down 44% from its April 14 high.
Fundamental Analysis of the American Economy Sunday, June 6
Last week, the US dollar fluctuated significantly in response to the ADP and NFP indices, but eventually the dollar index ended the week at the same levels as at the beginning of the week. The rapid growth of the ADP had prompted investors to expect rapid and strong NFP growth, but this did not happen and investors were disappointed. In fact, with the release of the NFP index, all the growth of the dollar index, which was due to the good report of ADP, disappeared.
Next week, Forex investors and traders will focus on risky events such as the European Central Bank interest rate meeting and the US Consumer Price Index (CPI).
US inflation grew to 4.2 percent last month. The Federal Reserve responded to the report by saying that rapid inflation was still temporary. It remains to be seen how the Fed will react if US inflation continues to grow rapidly. The dollar also strengthened last month as US inflation soared. If the Fed concludes that rapid inflation growth is not temporary and should begin to exit monetary expansionary policies, the dollar will react very quickly and strengthen.
Kitco's opinion about gold from the perspective of investors Sunday, June 6
According to Kitco News' weekly assessment, the market atmosphere is still in favor of buyers. Some analysts believe that the growth of US economic indicators will intensify inflationary pressures. However, the growth of economic indicators is not strong enough to force the US Federal Reserve to withdraw from expansionary monetary policy. Micro-investors and market traders believe that the gold market trend will tend to rise in the coming week. However, the number of fans of the downtrend is also increasing. A number of analysts have warned that the gold market is above $ 1,900 saturation.
This week, 16 Wall Street activists took part in the weekly evaluation of the Kitco site. 69% predict that the global gold ounce trend will be upward. Another 13% predict that the market trend will be downward. Meanwhile, about 19% expect a trend-free or neutral market. Also this week, 1,023 Main Street investors took part in an online poll. 54% were in favor of the uptrend, 29% were in favor of the downtrend and 17% were in favor of the neutral trend.
US employment data was released on Friday, which was generally weaker than market forecasts. The growth of the US NFP index was only 559 thousand units. The market expected growth of 645,000 units. However, wage growth last month was half a percent.
According to the activist, the price of an ounce of global gold grew well in response to weak US employment data. "However, in ounces of gold ounces, I tend to be a seller rather than a buyer. "MACD and stochastic indicators also indicate a bearish correction."
"US employment data show weak employment growth. Wage growth has been good. But rising wages are raising concerns about escalating inflationary pressures. Wage growth is usually highly sticky, and NFP growth indicates that wages need to go even higher for more people to return to the job market. "This is bad news for the US dollar and good news for the ounce of global gold."
"The break-in of the key $ 1,900 level in May reflects the long-term uptrend in the market."
Gardi believes that despite the bearish return of the gold market on Thursday, the market is still stable and has a strong uptrend. In his view, gold has been able to defend key protections. However, he added that this week's gold trend will be neutral. Gerdi expects the US Federal Reserve to back out of expansionary monetary policy in response to rising inflationary pressures. According to him, gold will face a serious challenge in maintaining its position above $ 1,900. "The US Federal Reserve has made a mistake in assessing the outlook for inflation, and the rapid growth of inflation will not be temporary. "Gold can rise to higher levels, but somewhere in the rally, US inflationary pressures will cause the Federal Reserve to pull back from expansionary monetary policy and halt the global gold ounce rally."
The activist believes that because the price of an ounce of world gold could not close above the closing price of two weeks ago (in 1905), the medium-term trend of the market has changed.
Bitcoin becoming the currency of El Salvador
El Salvador plans to become the first country to adopt Bitcoin (BTC) as a currency. During the Bitcoin 2021 conference in Miami, El Salvador President Najib Armando Abu Quillah, in a speech in support of Bitcoin, said he planned to introduce a bill next week that would make Bitcoin a Recognize the currency in this country. Abu Kileh announced that he is going to cooperate with Strike, a bitcoin payment company. Mahlers, owner and founder of Strike, also confirmed the news and expressed his desire for the partnership.
Najib Abu Kileh's progressive views have long made him famous; For example, since he took office in 2019, he has talked a lot about bitcoin. "
"Taking a small step for Bitcoin will be a big leap for humanity."
Ripple seeks to obtain XRP transaction data from foreign exchanges
Ripple executives are looking for XRP transaction data at foreign exchanges to prove that most of the tokens were sold to non-US citizens. This is the latest attempt in Ripple's legal battles with the US Securities and Exchange Commission.
The legal team of representatives of Ripple executives has submitted a proposal with the aim of collecting information on the sale of XRP tokens made in foreign exchange offices.
In the ongoing legal battle, Ripple is not accused of selling XRP as registered securities. However, the company's executives have claimed that the sale does not violate US law. They now hope to gather new information from exchange offices to prove that XRP tokens were sold to non-US exchange offices outside the scope of the 1933 Securities Act.
In a statement released Wednesday, Ripple CEO Chris Larsen and CEO Brad Garlinghouse confirmed that they were seeking information from 15 digital currency exchanges that have been trading XRP since 2013 (1392) have been processed.
The defendants asked the court to issue letters requesting the Hague Convention to officials in the Cayman Islands, Hong Kong, South Korea, the United Kingdom, Singapore, the Seychelles and Malta. This request provides information on XRP transactions, including XRP trading volume, IP addresses and exchange policy. The defendants claimed that they were not able to provide this data independently and therefore needed the help of the court.
If approved by the judge, request letters will be sent to foreign legislators to transfer to digital currency exchanges that conduct XRP transactions. These exchanges include AscendEx (formerly Bitmax), Bitfinex, Bitforex, Bithumb, Bitlish, Bitrue, Bitstamp, Coinbene, Coinone, HitBTC, Huobi Global, Korbit, OKEx, Upbit and ZB Network.
The largest Bitcoin event in history (Bitcoin 2021) takes place today in Miami
Bitcoin 2021, the largest Bitcoin event in history with at least 12,000 participants, kicks off today in Miami with some of the biggest figures in the digital currency industry in the world.
The conference will be one of the largest digital currency conferences since the COVID-19 epidemic, with organizers expecting more than 50,000 attendees. The informal part of the conference kicked off on Thursday as "Whale Day" with Galaxy CEO Mike Novogratz and BitGO CEO Mike Belshe in attendance.
The event is supposed to be something "more like a music festival" that includes several stages, including the "Nakamoto Stage" main stage as well as side stages such as "Stacking Sats Stage" and "End Of Fiat Stage".
The event will be attended by some US government officials, including Senator Cynthia Lummis and US digital currency sponsor Warren Davidson. Lumis took the oath of office in the Senate in January and earlier this year showed his support for Bitcoin and posted a photo of the laser eye on Twitter. Davidson and Lumis will speak this afternoon on the panel "Bringing the House of Bitcoin Innovation to the United States."
Bitcoin 2021 also includes key former US lawmakers, including Chris Giancarlo, former chairman of the Futures Trading Commission, and Brian Brooks, former head of the US Currency Monitoring Office and current Bainance. Giancarlo and Brooks are set to discuss financial innovation.
Other prominent Nakamoto Stage speakers include Beat Gold creator Nick Szabo, Founders Gemini, Cameron and Tyler Winklevoss, Morgan Creek Digital Founder, Anthony Pomplio, Director Anthony Pomplio Michael Saylor, a former presidential candidate and member of Congress, Ron Paul, and a major investor in digital currency and blockchain, Tim Draper, noted.
Google accepts cryptocurrency ads
In the latest update to its advertising policy for Bitcoin and other cryptocurrency-related products and services, Google outlined the licensing process for exchanges and wallets.
Over the past decade, Google and Facebook have dominated the online advertising market. Both websites banned both ads for cryptocurrencies in 2018; However, since then, a number of these restrictions have been lifted. In the United States and Japan, related businesses can place cryptocurrency ads on Google if "the products and advertisements provided comply with local laws and industry standards and the account is approved by Google."
Now, the tech giant has clearly defined the criteria for licensing. To receive an ad for an cryptocurrency exchange or wallet on Google, a company must be listed on FinCEN as a monetary services business and at least in one state, as a money transferor, or only at a federal or state authorized banking institution. "
Businesses must "comply with relevant legal requirements, including local requirements, both state and federal," and "ensure that their ads and homepage comply with all Google Ads policies."
Google has banned all advertising related to Defy and Initial Coin Issuance (ICO) protocols, as well as Defy-related services such as cryptocurrencies, token cash pools, unauthorized DApps, and unhosted wallets.
Encrypted exchanges that are currently approved by Google must apply for a license again in July. The new rules will take effect on August 3.
The Binance-backed exchange in Indonesia intends to make an initial public offering
The Jakarta-based Tokocrypto digital currency exchange will review its initial public offering over the next two or three years, according to Nikkei Japan on Wednesday.
The CEO of the exchange, Pang Xue Kai, stated:
"We say two years because we have to be profitable continuously for at least two years before listing. We are profitable right now. Our main focus at Tokocrypto is to further develop our business, expand our operations in more parts of Indonesia and create crypto flows in the country. "
