The Crypto Roundup: 10 June 2024

Latest price and news from the crypto space

Latest price from our hand picked list of digital assets

The governor of the People’s Bank of China praised recent tests of its national digital currency and said over 4 million transactions totaling more than 2 billion yuan ($299 million) have been conducted using the digital yuan.

According to data from CryptoCompare, the day after the 12th anniversary of its white paper, Bitcoin managed to close the month of October at $13,801, which was its second highest monthly in history. Several analysts are expecting a new all time high this year.

Top stories in the Crypto Roundup today:

PBoC Governor Says ‘Successful’ Digital Yuan Trials Have Transacted $299M
Swiss Subsidiary of Russia’s Gazprombank Authorized to Offer Crypto Bank Accounts
Bitcoin Just Had Its Second Highest Ever Monthly Close

PBoC Governor Says ‘Successful’ Digital Yuan Trials Have Transacted $299M

The governor of the People’s Bank of China praised recent tests of its national digital currency at the Hong Kong Fintech Week conference on Monday. Over 4 million transactions totaling more than 2 billion yuan ($299 million) have been conducted using the digital yuan, Yi said.

In a report by Bloomberg, Yi Gang said the pilot program, which has spanned multiple Chinese cities this year, has proven successful. Per a Reuters report on Monday, Yi said the the prospect of a launch was not imminent, saying the digital yuan project is still in the early stages. China must still develop a “fairly complicated and fairly complete legal framework,” he said, particularly around transparency.

Swiss Subsidiary of Russia’s Gazprombank Authorized to Offer Crypto Bank Accounts

Gazprombank (Switzerland) Ltd, the Swiss registered bank that is wholly-owned subsidiary of Russia-based Gazprombank (JSC) has announced that it has received authorization to offer cryptocurrency accounts. The Zurich-based bank, which is regulated by the Swiss Financial Market Supervisory Authority (FINMA), offers “all traditional corporate banking services in Switzerland and abroad.”

The bank’s press release said that in addition to traditional banking products/services, it is now able to offer its corporate and institutional clients “the safe custody of cryptocurrencies as well as trading
between crypto and fiat currencies.”

Bitcoin Just Had Its Second Highest Ever Monthly Close

According to data from CryptoCompare, the day after the 12th anniversary of its white paper, Bitcoin managed to close the month of October at $13,801, which was its second highest monthly in history.

Bitcoin recorded its highest ever monthly close — $13,850 — on 31 December 2017, the same month in which Bitcoin’s price reached its all-time high (ATH) of $19,870 (which occurred on 17 December 2017).

Popular crypto analyst/trader Josh Rager, who is also a Co-Founder of online crypto learning platform Blockroots, as well as an advisor to several blockchain startups, seems to think that Bitcoin’s price has a good chance to reach a new ATH “in the coming months.”

State of the Crypto by Top Tier Exchange Volume

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