Gate.io’s Daily Market Trends _June 13th_: Several Governments Continue to Tighten Regulation, Crypto Markets Continue To Drop

2021-06-13, 05:55

As of 12:00 GMT, Bitcoin price was $34,870.00 and Ether’s price was $2,333.69. After continuous dropping during day time, the prices of bitcoin and ethereum bounced back from the bottom, which didn’t last long. Since midnight, prices have been falling again. South Korea, Namibia and Iran continue to tighten regulations. China’s crackdown on cryptocurrencies has spread to the provinces of Yunnan and Qinghai, putting the market in the mood of fear.

According to Gate.io data, a total of 37,868 traders have suffered liquidation in the past 24 hours, worth a total amount of over $234 million.

The bitcoin Mining Council made its formal debut Thursday and confirmed that Elon Musk has ‘no role’ in the council. The council will meet quarterly in order to analyze mining trends. Micheal Saylor of Microstrategy announced on Twitter that the Council would meet on June.17 to discuss “the mining, energy debate, network dynamics, China mining policy and more’.

Bank of Namibia warns that they won’t entertain any complaints related to crypto from any user. The bank claims that it doesn’t have any “legal power”” to follow up on such complaints. The bank’s spokesperson Kazembire Zemburuka adds that Bank of Namibia as the only issuer of legal tender in Namibia, “does not recognise, support and recommend the possession, utilisation and trading of cryptocurrencies by members of the public”.

Author: Gate.io Researchers: Gazer. C & Charles. F
*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 12:00 CST)
BTC:$34,870.00(-1.51%)；ETH:$2,333.69(+1.75%)；DOGE:$0.309339(+1.13%；GT:$3.7375(-0.38%)；XRP:$0.82572(+1.16%)；ADA:$1.4575(+5.26%)；DOT:$20.287(+0.79%)；UNI:$20.945(+0.85%)；

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