Announcements Gate Research : Russia Legalizes Cryptocurrency Mining, Bitcoin Price Soars 6.83% to Surpass $60,000

Gate Research : Russia Legalizes Cryptocurrency Mining, Bitcoin Price Soars 6.83% to Surpass $60,000

2024-08-09 09:19:01 UTC 9836 Read

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**Gate Research Daily Report**: On the 9th, BTC surged by 6.83%, with ETH and other cryptocurrencies following suit. Brazil approved the world's first Solana ETF, and Russia legalized crypto mining. BTC ETFs saw a net inflow of $202 million, while ETH ETFs experienced a slight outflow. Over $200 million was liquidated in the global contract market in the past 24 hours, with the BTC contract long-short ratio remaining balanced. The Vessel platform raised $10 million, and other blockchain projects also secured significant funding.

**Market Analysis**: BTC bulls were strong, with a single-day gain of 6.83%. ETH and other altcoins also began to rebound.
**Futures Market**: Over the past 24 hours, total network contract liquidations exceeded $200 million. The current BTC contract long-short ratio is generally balanced.
**Spotlight Analysis**: Russian legislation now allows approved mining companies to register through the national database for cryptocurrency mining.
**Funding News**: The largest funding round was a $10 million seed round for the on-chain trading platform Vessel.
**Market Opportunities**: Several projects, including IBO, Zircuit, and Term Finance, have announced upcoming airdrops.

Explore today's details  👉🏻 [Gate Research : Russia Legalizes Cryptocurrency Mining, Bitcoin Price Soars 6.83% to Surpass $60,000](https://www.gate.io/learn/articles/gate-research-russia-legalizes-cryptocurrency-mining-bitcoin-price-soars-6-83-to-surpass-60000/3755?ch=GDR_ann_20240809&utm_campaign=TR_rlu55Ypt&utm_content=&utm_medium=CPM&utm_source=CH_79kTf7RP&utm_term=)

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August 9th, 2024

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Gate Research : Russia Legalizes Cryptocurrency Mining, Bitcoin Price Soars 6.83% to Surpass $60,000

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