Gate.io Blog Gate.io’s Daily Market Trends （June 2nd）:DOGECOIN rises above 20%, Shares of mining company RIOT soar

Gate.io’s Daily Market Trends （June 2nd）:DOGECOIN rises above 20%, Shares of mining company RIOT soar

02 June 13:59

As of 12:00 GMT on June 2nd, Bitcoin’s price closed at $36487.23 and Ether's price closed at $2618.2.

Yesterday afternoon, Bitcoin’s price entered a sideways adjustment phase, with the Bollinger band narrowing significantly. The True Volatility Index declined and the level of market volatility was temporarily at a steady state. Surprisingly, Bitcoin’s price hit $36,500. However, Gate.io data shows that the market is still in a state of extreme panic. Indicators such as MACD and RSI are in critical condition. With buy and sell signals both very vague, low volume friction is the main reason for the current temporary stable market performance. After 12:00, investors need to pay attention to Bitcoin price short-cycle volatility and afternoon effect.

Data from Gate.io shows that over the past 24 hours, 53394 traders have been liquidated, with a total value of over $273 million.

Coinbase announced that users can now deposit DogeCoin into their Coinbase Pro accounts. Once liquidity conditions are met, trading will begin on or after Thursday, June 3 at 9am Pacific time. After the announcement, the DOGE price edged 23.3% higher to $0.389.

Thailand’s Securities and Exchange Commission announced that Defi activity involving digital tokens such as liquidity provider tokens, or tokens issued to those transacting in Defi projects “must be licensed and abide by the specified rules.” The regulator further stated that the issuer must disclose information and offer digital assets through the correct avanues.

Shares of AMC Entertainment surged again Tuesday after the theater chain sold more than 8 million shares to an investment firm. Shares were up 22.6% when the market closed.

Shares of Bitcoin mining company RIOT soared yesterday, gaining as much as 7.74% in a single day. According to TheFly.com, RIOT affiliate WhineStone has expanded its power output to as much as 750 megawatts at the cost of just $0.025 per kilowatt per hour. This gives RIOT the lowest possible mining cost and an advantage in terms of Bitcoin output

Author: Gate.io Researchers: Charles. F & Gazer. C
*Gate.io reserves all rights to this article. Reposting of the article will be permitted provided Gate.io is referenced. In all other cases, legal action will be taken due to copyright infringement.

Gate.io Spot Quotes (as of 15:00 CST)
BTC: $36,487.23 (-0.66%); ETH:$2618.2 (-0.54%); DOGE: $0.3766 (+14.56%); GT: $4.4451 (-2.37%); XRP: $1.01 (-3.01%); ADA $1.76 ( 2.39%); DOT $23.77 (+5.74%);

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Gate.io’s Daily Market Trends （June 2nd）:DOGECOIN rises above 20%, Shares of mining company RIOT soar

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