Tezos Up 12%, Weibo Blocks Crypto Accounts And MSM Knows DeFi

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Last Updated on 7 June 2021 by CryptoTips.eu

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / jeroen@cryptotips.eu
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Bitcoin is back to its boring ways apparently, moving within a very tight trading range of $35k to $39k.

At the same time, Ethereum refuses to go underneath $2,500 and looks to be in greater shape than the world’s biggest crypto.

At this moment, as even known Dutch technical analyst Michael Van De Poppe explained Ethereum simply looks way stronger than Bitcoin.

Some altcoins are performing really well today, Tezos is up 12% and NEXO 10%. The NEXO Governance Vote will open today, where users can vote for new features on the platform.

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Weibo blocks crypto accounts

Weibo is to China what Twitter is to the US and Europe. When journalists want to know which story will be trending on social media that day, they check this social media platform first. The big difference between Weibo and Twitter lies in the numbers. Whereas Twitter boasts a very healthy 300 million active users, Weibo sees some 500 million people log on every month.

Therefore, the fact that this weekend it became clear that a large number of cryptocurrency Key Opinion Leaders (KOL) were being blocked on the platform, commentators saw it as a sign that a further crackdown on crypto by China’s government might be coming.

MSM knows DeFi

Lastly, we have to note that although the classic MSM (mainstream media) is still no fan of crypto and Bitcoin, they seem to have found a shared enthusiasm for DeFi (decentralized finance).

In the past week, there were article in both the Financial Times and Forbes explaining the technology to their readers. The FT even admitted that DeFi is what Silicon Valley venture capitalist believe is the next big thing in banking. Quite the compliment.

tangducminh / Depositphotos.com