Crypto Daily News from ZBG Exchange

1. Market Wrap: Possible Stimulus Tapering, China Continue Fueling Big Bitcoin, Crypto Dump

Ether is providing some with hope as its momentum, in the form of volume, continues to beat bitcoin for the 10th straight day.

A double-digit cryptocurrency market capitalization drop is being attributed to a major shift to bearish sentiment. Bitcoin volumes and volatility are still lower than ether’s but Ethereum-based opportunities have analysts optimistic for the future.

2. Bitcoin Futures Market in Capitulation Mode as Traders Turn Bearish

The declining futures premium indicates uncertainty about bitcoin following a 35% correction in May and another 12% drop already this month.

The practice of buying bitcoin (BTC) as collateral to sell at a higher price in the future may be nearing an end as the crypto’s price declines, marking a shift in investor sentiment to bearish from bullish.

3. Paraguay May Be Next to Court Crypto Businesses With July Bill

Paraguay Congressman Carlos Rejala hopes to draw crypto businesses to the South American nation with a new bill next month.

Next month, Paraguayan congressman Carlos Rejala plans to present a bill to attract international mining companies and other crypto businesses.

4. El Salvador Residents Are Split on Bitcoin Adoption Bill

Some El Salvadoran residents are excited by the thought of bitcoin being treated as legal tender, while others are concerned it may just be a tool for corrupt officials.

Mario Valle, 39, an El Salvadoran bitcoin (BTC, -2.22%) investor and manager of a popular local bitcoin Facebook page, is thrilled that President Nayib Bukele announced bitcoin could soon become legal tender in the Central American nation alongside its present official currency, the U.S. dollar.

5. Crypto Exchanges See Biggest Bitcoin Outflow in 7 Months. A Reason to Cheer?

“This traditionally bullish signal should be interpreted with caution and in the context of other indicators,” one analyst said.

With the price of bitcoin off almost 50% from its all-time high, bullish traders are hanging their hopes on a fresh data point that might show the market is nearing a bottom: a big surge in outflows of the cryptocurrency from exchanges.

Founded in July 2018, ZBG is a Hong Kong-based cryptocurrency exchange, a global platform of ZB.COM.

ZBG.com has quickly become one of the top 10 exchanges in the world with its innovative, efficient and global operations, and is known as a “New First-Tier” exchange.

Currently, ZBG supports 11 languages, with an average daily activity of more than 160,000, providing over 3 million users around the world with trustworthy cryptocurrency trading, contract trading and other crypto asset investment services.

In the future, ZBG will continue to expand its global market and provide stable, safe and fast blockchain project listing, diversified crypto assets and blockchain derivatives investment services to more blockchain enthusiasts around the world.

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ZBG, World’s top 10 crypto currency exchange.

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ZBG Team

June 9, 2021

Launched in 2018, ZBG is a Hong Kong-based crypto exchange, a subsidiary of ZB.COM. ZBG is focused on providing a trading platform for new and innovative tokens