Last week was filled with significant events in the cryptocurrency sphere. Bitcoin exhibited considerable price fluctuations, Ukraine announced the creation of a crypto reserve, and the Plasma project attracted investor attention.
This is reported by Бізнес • Медіа
Cryptocurrency Dynamics
Bitcoin started the week with gains, reaching the mark of $110,000 on June 9-10. However, by June 13, the price sharply dropped below $103,000 due to the escalation of the conflict between Israel and Iran. The liquidation volume exceeded $1.1 billion. As of mid-June, Bitcoin is trading around $105,158.
A CryptoQuant expert noted an increase in buying pressure from investors in the U.S. In his opinion, the price trend will remain upward in the medium term.
Institutional Investments and Regulation
Several large companies have announced plans to create Bitcoin reserves. Blockchain Group intends to raise $340 million for cryptocurrency investments, with the prospect of increasing funding to $11 billion. Mercurity Fintech plans to invest up to $800 million in Bitcoin.
In Ukraine, a bill has been registered for the creation of a crypto reserve. The document does not impose direct obligations on the National Bank but provides the regulator with the opportunity to assess the feasibility of investing part of the gold and foreign exchange reserves in crypto assets.
The Plasma project, which is developing a network for transfers in stablecoins, attracted $1 billion in deposits within 33 minutes of opening for funds. Initially, the limit was set at $50 million, but due to high demand, it had to be raised several times.