What's Happening in the Cryptocurrency Market? (June 11)

Here are the cryptocurrency news of June 11, the most up-to-date developments, here are the most appreciating and depreciating cryptocurrencies...

Interest in cryptocurrencies has increased significantly during the coronavirus outbreak. However, investors began to closely monitor the movements of important cryptocurrencies such as Bitcoin, Ethereum and Ripple. The most curious cryptocurrencies by investors; How did Bitcoin, Ethereum, Ripple start the day? The cryptocurrency market is very active with the recent news flow. The statements of US President Joe Biden regarding the changes in the tax law, the CBRT's ban on cryptocurrencies from payments, and the addition of crypto asset service providers to the liabilities section by publishing a new regulation with the presidential decision had a great impact on the cryptocurrency market. On the other hand, the negatively affected cryptocurrency market recovered after US Treasury Secretary Janet Yellen said that interest rates may need to increase moderately to prevent the US economy from overheating due to high government spending. However, Bitcoin, Ethereum and other cryptocurrencies were negatively affected by the decline in the US markets. Despite all this, the main blow came from Tesla founder Elon Musk. The decline started when Musk announced that the company would no longer accept Bitcoin as a means of payment due to its carbon footprint. Cryptocurrencies were adversely affected by China's ban on cryptocurrencies and the Bank of Japan's Governor criticizing BTC. The cryptocurrency market, which made a good start to June but fell after with the tweets of Elon Musk along with China's Twitter Weibo announced that it blocked many cryptocurrency accounts, tried to recover with the news that the President of El Salvador will make Bitcoin the national currency and MicroStrategy will buy Bitcoin. With the attack on the Colonial Pipeline yesterday, it decreased to around 32 thousand dollars.

How Much Is A Bitcoin?

Bitcoin Mining Council was launched today by MicroStrategy CEO Micheal Saylor. Famous billionaire Elon Musk, known for leading the cryptocurrency market, stated that the meeting was productive, but that he has not had an official role in this council so far. The council aims to attract players around the world as well as to drive the movement towards creating sustainable energy solutions for mining purposes. On Friday, June 11, when these developments were experienced, Bitcoin is trading at $ 37,494.3. The unit, which moved between 36,003.3 and 37,641.1 dollars during the day, recorded a loss of 0.92 percent in the last 24 hours.

What Is The Price of Ethereum?

As second most valuable currency in terms of market value, Ethereum seems to be preparing to retest the price band of 30 thousand dollars. ETH entered an uptrend after successfully breaking the $2,300 resistance level. However, after El Salvador's step that affected the cryptocurrency market, it entered a recovery phase, especially Bitcoin. While Ethereum volatility is falling, the price stands between $2,400 and $2,600. Having lost 4.07 percent in the past 24 hours, Ethereum is trading at $2,470.88 at the time of writing.

What Is The Price of Ripple?

After reaching above $1.05, XRP was unable to continue its rally and suffered consecutive losses. XRP is currently hovering just under $0.87. If the selling pressure continues, the ongoing bearish pressure may increase further. XRP is trading at $ 0.87017 at the time of the news that more than $ 100 million XRP transfers emerged in the last 24 hours. The loss of the unit in 24 hours was 1.69.

How Much Was BTT?

BitTorrent, which has not been able to earn money for its investors recently, lost value by 4.09% in the transactions on Friday. BTT is traded at $0.003585 at the time of writing.

What Is The Price of CHZ?

Chiliz puts on an incredible performance on Friday, June 11th. Having gained 1.54 percent in yesterday's transactions, CHZ has gained 34.34 percent in the last 24 hours and is currently traded at $ 0.320000.

Recent news

A Step For “Green Bitcoin” By Digital Asset Management Company While the issue of "Green Bitcoin" is still being discussed in the cryptocurrency world, a new step on this issue came from the US-based digital asset management company One River Digital. At the request of the asset holders in the institutional Bitcoin fund, the company has developed an option to invest in digital assets in a way that will reduce the carbon emissions of cryptocurrency mining. The company's founder and chief investment officer, Eric Peters, drew attention to the need to pay attention to environmental factors and said: “We believe that digital assets do people a great favor. In order to use this potential, we have to think about environmental factors for the future already. The announcement we made was thanks to our customers. This is a very important step we have taken on the right path. This demand of theirs will also set an example for institutional investor behavior.” David Guetta Accepts Crypto Payments For The Sale of His House World-famous DJ David Guetta has put his Miami house up for sale for 14 million dollars. Guetta said that he will accept Bitcoin and Ethereum for payment. David Guetta bought his house, which he put up for sale, for 9.5 million dollars in 2018 from American real estate mogul Richard LeFrak.