Join the Trading Community: Learn & Earn with Bingbon.
Today’s Cryptocurrency Headline
Chainalysis, a blockchain data analysis firm, publishes The 2021 Geography of Cryptocurrency Adoption. The global cryptocurrency adoption index designed by Chainalysis shows that Vietnam, India, Pakistan, Ukraine and Kenya rounded out the top five, with the United States at 8 and China at 13. The US, Vietnam, Thailand, China and the UK are the top five, according to the Global DeFi Adoption Index designed by Chainalysis. In terms of overall market size, Central, Northern and Western Europe (CNWE) is the largest cryptocurrency market in the world. The market received more than $1 trillion in assets last year, 25% of the world’s total. North America is the second largest cryptocurrency market, receiving more than $750 billion in cryptocurrencies between June 2020 and July 2021, accounting for 18.4% of the global total.
Bingbon’s Bitcoin Chart
Bitcoin price briefly broke through $59,000, its highest level since May 11 and within a whisker of $60,000. According to media reports, the SEC is preparing to allow trading of the first Bitcoin futures ETF in the US. ProShares and Invesco Ltd. ‘s ETF product is based on futures contracts and follows mutual fund rules. The SEC chairman has also said the rules play an important role in investor protection. Whether this news is deliberately released by market speculators is uncertain at present. Bitcoin price’s performance is also a sign that market participants are back in hoarding mode. From the daily chart, BTC still needs to stand firm at $65,000 to further open up upside space.