Cryptocurrency news summary for May 31, 2024:
Markets:
* Bitcoin: The price of Bitcoin remains relatively stable around $23,000, with low trading volume. Some analysts believe the price could see a rebound in the short term, while others are more cautious and expect further consolidation.
* Ethereum: Ethereum is also in a period of relative calm, trading around $1,600. Investors are eagerly awaiting the next network upgrade, “The Merge,” which is expected to have a significant impact on the price.
* Altcoins: Altcoins are showing mixed movements, with some gaining ground and others losing value. Dogecoin (DOGE) has seen a sharp decline in recent days, while Shiba Inu (SHIB) has made some gains.
Adoption:
* MasterCard: Payments company MasterCard has announced that it is working with a Spanish company to simplify sending cryptocurrencies to Latin America. This initiative could help boost cryptocurrency adoption in the region.
* El Salvador: El Salvador has mined $29 million worth of Bitcoin since adopting the cryptocurrency as legal tender in 2021. The Salvadoran government has said it plans to continue purchasing Bitcoin despite recent price drops.
Regulation:
* US SEC: The US Securities and Exchange Commission (SEC) has approved 11 Bitcoin exchange-traded funds (ETFs). This decision could help attract more institutional investors to the cryptocurrency market.
* Spain: Worldcoin, a cryptocurrency company that uses facial scanners to verify users' identities, remains banned in Spain. Spanish authorities have expressed concern about the company's data privacy practices.