Gate.io’s Daily Market Trends （June 23rd）： Alipay Launches Dunhuang-themed NFT, Bitcoin Miner Plans to Use Renewable Energy

2021-06-23, 07:45

Bitcoin’s price reached a low of $28,800 yesterday evening before recovering quickly. On the one-hour timeframe, Bitcoin’s price had exceeded the price of each moving average and there is now a clear upward test of the upper trendline. Currently, Bitcoin’s resistance point is estimated to be around $33,500. After hitting the trendline, Bitcoin’s price may drop quickly. Today's market panic index is 14. Despite two consecutive days of Bitcoin price increases, the market is still in a state of extreme panic.

Alipay, a major payment service provider which is part of the Alibaba Group in China, has launched an NFT platform. The first two artworks will have 8,000 copies available. They are from Dunhuang Fine Arts Institute, published and sold on AntChain and are only available to purchase with Alipay points and RMB.

According to Tom Robinson, co-founder of Elliptic, crypto companies and individuals have paid $2.5 billion in fines since 2009 to US regulators including US Securities and Exchange Commission. Most of the fines were related to unregistered securities offerings, fraud and AML violations.

Yonhap News Agency of South Korea reported that the Korea Democratic Party is set to discuss regulations of virtual assets such as Bitcoin, with the South Korean government Topics to be discussed include setting up laws to protect investors, banning price controls and more.

Stronghold Digital Mining just announced that they have raised another $105 million in the latest funding round from MG Capital. The funding comes from various family offices and Greg Beard, former senior partner at Apollo Global Management. Stronghold also announced that they would convert waste from coal, a material left over from coal mining, to power Bitcoin and mine other cryptocurrencies.

Author: Gate.io Researchers: Gazer. C & Charles.F
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