CoinLoan Weekly: Crypto Market Shows Signs of Recovery

ResearchJun 28, 2021

BTC price is rising. Today, on June 28, it reached $34,578, a 4.38% change in 24 hours, according to CoinMarketCap. BTC's market dominance now is at 47%.

BTC price (source: Coinmarketcap)

As for other top cryptocurrencies, they follow the upward trend too. According to Coinmarketcap, Ethereum's price is $2,013 as of June 28, showing an 8.61% growth in the last 24 hours, with its market dominance being 16.83%.With up and down price fluctuations continuing for the third week, investors search for crypto management tools to avoid risk.

ETH price (source: Coinmarketcap)

Celo is the currency that went up in value much more than other tokens in the last week. According to Coinmarketcap, its price grew by 67.21%.

Ricardo Salinas Pliego, the 166th richest person in the world and Mexican billionaire, said he's working on making his bank (Banco Azteca) the first in Mexico to accept BTC. In one of his interviews, the billionaire said he believes all fiat currencies are fraud, and Bitcoin is an asset that should be a part of every investor's portfolio. However, whether you are a retail or institutional investor, you need tools for buying, lending and swapping BTC.

On June 26, the UK's Financial Conduct Authority (FCA) issued a warning to Binance Markets Limited (BML) and the Binance Group. FCA claims that BML, unlike many regulated crypto companies, is not permitted to undertake operations in the UK, as it is now part of a wider Group (Binance Group). In response, the official Binance Twitter account posted a thread assuring the platform users that BML remains a separate legal entity that doesn't offer any products or services via the Binance website.

Elon Musk again interfered in the market by making a post on Twitter about naming his Shiba Inu Floki. After the tweet, SHIB price rose to $0.000008, as of June 28, according to Coinmarketcap, a +9.05% price change in the last 24 hours.

SHIB price (source: Coinmarketcap)

As for DOGE, the coin went up from $0.25 on June 24 to $0.29 on June 25. However, On June 28, DOGE reached $0.26, a 5.68% price change in the last 24 hours.

DOGE price (source: Coinmarketcap)

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The information provided by CoinLoan ("we,” “us” or “our”) in this report is for general informational purposes only. All investment/financial opinions expressed by CoinLoan in this report are from the personal research and open information sources and are intended as educational material. All outlined information is provided in good faith, however we make no representation or warranty of any kind, express or implied, regarding the accuracy, adequacy, validity, reliability, availability or completeness of any information in this report.