Crypto News Today – Understanding the Impact of 4 Crypto News Headlines on June 6

Crypto News Today – How to Stay Informed: 4 Crypto News Highlights from June 6

Crypto News Today – As we approached the end of the first week of June, the cryptocurrency sector was also very active. With the leading cryptocurrency topping $70,000 and Robinhood’s surprise acquisition, here’s everything that happened today.

Bitcoin Rises Above $70K Again

After its surge earlier this week, Bitcoin fluctuated about $71,000 over the mornings in Asia and Europe. For most of the morning in Europe, the price of Bitcoin fluctuated between $70,900 and $71,100, showing a 0.1% increase in value over the previous day. In other words, the CoinDesk 20 Index (CD20), which tracks the overall performance of the digital asset market, is currently up roughly 0.67%.

Robinhood to Buy Bitstamp for $200 Million

Robinhood has agreed to pay $200 million in cash for the cryptocurrency exchange Bitstamp. As one of the biggest cryptocurrency exchanges in Europe, Bitstamp was established in 2011 and would consequently help Robinhood’s goals for international growth.

The acquisition of Bitstamp is a major step in growing our crypto business. Through this strategic combination, we are better positioned to expand our footprint outside of the U.S. and welcome institutional customers to Robinhood.

Johann Kerbrat, general manager of Robinhood Crypto

VanEck Expects Ether Price to Hit $22K

VanEck established a target of $22,000 for ether, the Ethereum network’s native token, by 2030. The company, which is one of the potential suppliers of a spot Ethereum ETF in the United States, stated in recent research that Ethereum’s disruptive power, the cash flow it generates for token holders, and the expected approval of the ETFs are the reasons why ether will soar to that level. According to VanEck, the potential of Ethereum-based technology to provide cheaper costs, more efficiency, and more transparency is what’s fueling the rally.

Bitcoin Could See $150K If Trump Wins The Election

According to Standard Chartered, the association between the price of Bitcoin and the likelihood that Donald Trump will win the U.S. presidential election in November is depicted in the above figure. Given that Biden vetoed Congress’ attempts to overturn SAB 121, Trump is thought to be the more bitcoin-friendly candidate. According to Standard Chartered’s head of crypto research, Geoff Kendrick, Bitcoin is expected to hit $100,000 before the election and $150,000 by year’s end if Trump wins.

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