Gate.io’s Daily Market Trends （June.1）:

As of 12:00 GMT on June 1, Bitcoin’s price closed at $36,658.14 and Ether's price closed at $2,625.21. Bitcoin’s price was pulled strongly after midday yesterday, with the highest price reaching $37,028.60, before Bitcoin’s price entered a sideways adjustment phase. At 8:00 on the 1st, Bitcoin’s price pulled up again and failed to hit the $38,000 level. The current Bitcoin price resistance point is around $38,000. From a daily level, although Bitcoin’s price reaped three consecutive positives, the volume remained unchanged. On the hourly chart, ETH price gained five straight positives after yesterday afternoon and broke above the $2,700 level today, but then entered a back-to-back adjustment. Today's Ripple price rose as much as 15.26%, or a vent for the market's depressed sentiment

Data from Gate.io shows that over the past 24 hours, there are 57189 traders liquidated, with the total value over $301 million.

The European Union plans to kick off its 750 billion euro pandemic recovery package with an initial 10 billion euro bond issue, France’s junior minister for European affairs, Clement Beaune, said on Monday. Beaune also said that more than 100 billion euros would be injected into the European economy.

Due to the unstable economy caused by the pandemic, many Argentines start turning their heads to crypto minings. According to Bloomberg, crypto miners in Argentina are capitalizing the nation’s policies, the Argentine Government’s long standing residential electricity subsidies. “Even after Bitcoin’s price correction, the cost of electricity for anyone mining from their house is still a fraction of the total revenue generated,” said Nicolas Bourbon.

Ripple just received another favorable ruling in its legal battle against the Securities and Exchange Commission (SEC) as Judge Sarah Netburn denied the US financial markets regulator access to the blockchain firm’s legal communications. Ripple CEO Brad Garlinghouse revealed that the project could go public once the case with the SEC was over. Price of Ripple(XRP) surges 16% to $1.06.

Author: Gate.io Researchers: Charles. F & Gazer. C
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Gate.io Spot Quotes (as of 12:00 CST)
BTC: $34506.66 (-0.90%); ETH: $2303.17 (+0.05%); DOGE: $0.2969(-0.34%); GT: $4.234(-0.59%); XRP: $0.89777 (+6.73%); ADA $1.5354 (+4.37%); DOT $19.648 (-0.53%); UNI: $23.845 (+2.36%)