Jakarta, CNBC Indonesia– The world of cryptocurrency digital currency managed to accelerate this week although there are still crackdowns from several countries, namely from the UK and China.
Check out the performance of 6 cryptocurrencies with the largest market caps.
The majority of the giant cryptocurrencies managed to surge this week with the exception of Dogecoin which fell 2.23% this week to a price level of US$ 0.245/coin.
While the largest appreciation was recorded by Ethereum which flew 17.49% to a price level of US$ 2,212/coin. For the cryptocurrency with the largest market cap, Bitcoin was also able to rise 4.75% to a price level of US$ 34,653/coin this week.
Despite ETH’s fast pace, the biggest cryptocurrency increase this week was recorded by the XinFin Network coin, which rose 84.17% to US$ 0.105/coin. Meanwhile, for the worst correction, Celo fell 16.5% to a price level of US$ 3.41/coin.
Previously, the Financial Conduct Authority (Financial Conduct Authority/FCA), the UK financial regulator warns that Binance Markets Ltd., an affiliate of Binance, is prohibited from conducting any form of cryptocurrency transactions without prior written consent.
The announcement preceded Bitcoin’s nearly 13% drop over the weekend, although the price was able to bounce back on speculation by investorstraderwho entered the levelsupportat the level of US $ 30,000.
“To be clear, Binance has not been completely banned in the UK, this is in no way indicative of a change in policy from the UK financial regulator regarding crypto assets,” wrote Mati Greenspan, CEO of Quantum Economics, in a newsletter published Monday (28/6/2021). .
Furthermore, the Chinese government under the administration of President Xi Jinping still has not stopped to “eliminate” bitcoin from the country.
The skyrocketing price of bitcoin and other cryptocurrencies has prompted Chinese authorities to warn of the risks that disrupt financial markets, as well as high rates of money laundering.
The Chinese government finally acted, late last month insisting it would eradicate all forms of mining and trading activities in Bitcoin and other cryptocurrencies. As a result, more than 90% of bitcoin mining capacity is expected to be shut down.
Last Friday, the Sinchuan provincial government ordered cryptocurrency miners to cease operations. Sinchuan is one of the provinces that is the center of bitcoin Cs mining.
Then earlier this week, the People’s bank of China (PBoC) asked financial institutions to no longer provide crypto currency services, including account opening, clearing and settlement.
CNBC INDONESIA RESEARCH TEAM
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