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The crypto market is settling down on Monday after a weekend of stage invasions, explicit coins and support from the president of El Salvador.
The past few days saw the staging of Bitcoin 2021 – billing itself as the largest crypto event in history, and welcoming tens of thousands to talk about digital currencies.
Arguably the most significant news was El Salvador President Nayib Bukele’s announcement that bitcoin will be treated as legal tender in the country, pending congressional approval. But one of the most notable events had nothing at all to do with bitcoin, as a stage invader ripped off a layer of his clothes and shouted: “Dogecoin to the Moon!”
The market itself is largely flat on Monday – up slightly as a whole, but only by 0.7 per cent, and with all of the biggest cryptocurrencies seeing largely similar performances.
Here is all the latest news from the crypto markets.
Bitcoin investors bullish on price as exchanges empty
The rate at which bitcoins are being removed from crypto exchanges is at its highest since November.
The trend, noted by on-chain analyst William Clemente (@WClementeIII), is viewed by some as a bullish signal for the market.
The price of bitcoin was trading below $20,000 the last time this many bitcoins were being taken off exchanges and put into cold storage. It then proceeded to break its previous all-time high and continued setting new price highs for the next six months, before the subsequent crash.
(Glassnode)
Anthony Cuthbertson7 June 2021 13:47
Paraguay to follow El Salvador?
A congressman from Paraguay has followed the lead of El Salvador’s president by adding bitcoin laser eyes to his Twitter profile picture.
Carlitos Rejala posted the updated profile pic alongside the words: “As I was saying a long time ago, our country needs to advance hand in hand with the new generation.
“The moment has come, our moment. This week we start with an important project to innovate Paraguay in front of the world! The real one to the moon #Bitcoin”
Anthony Cuthbertson7 June 2021 13:18
Market mostly flat
It’s an uncharacteristically flat day in the markets today: ethereum, which is up 1.42 per cent, is the most volatile of all the big coins. The rest – bitcoin, cardano, even the perennially excitable doge – have all moved about 0.5 per cent or less.
Andrew Griffin7 June 2021 10:25
El Salvador president adds laser eyes to his profile picture and declares bitcoin legal tender
The president of El Salvador has declared bitcoin “legal tender”, allowing it to be used as an official form of currency in the country.
President Nayib Bukele is the first world leader to formally adopt bitcoin or any other decentralised cryptocurrency, and emphasised his enthusiasm for the digital currency by adding “laser eyes” to his Twitterprofile picture.
Andrew Griffin7 June 2021 10:25
‘A new space race has begun’
Now cryptocurrency exchange Bitmex says it is planning its own moon mission: to put bitcoin there first.
Elon Musk has comented on the plans on Twitter. “A new space race has begun!” he wrote.
Andrew Griffin7 June 2021 10:25
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