Digital Asset Fund Inflows Pick Up For Altcoins – June 3

πŸ“ˆ 30 Second Cryptocurrency Price Summary

Current Bitcoin Price:Β $39,356

Bitcoin price has broken out above the $39,000 level today, finally venturing outside of its tight range within the mid $30,000s.

Top-20 altcoins have also performed well, as Ethereum gains 7%, XRP rises 5% and Solana leads the way with an 18% increase.

Top Stories for June 3, 2021 πŸ”₯

πŸ‘‰ Digital Asset Fund Inflows Pick Up For Altcoins

Digital asset funds have finally seen net inflows of $74 million over the last week, following two consecutive weeks of outflows.

Investors appear to be diversifying outside of Bitcoin-related funds, as altcoin fund products are picking up a larger share of total inflows.

Ethereum captured more than a quarter of all digital asset fund investment last week with a 27% share, as Cardano, Polkadot and XRP also proved popular.

πŸ‘‰ Google To Revamp Crypto Ad Policy For Exchanges & Wallets

Google has published a statement saying that cryptocurrency exchanges and wallets targeting the US will be able to advertise their products and services, provided that they meet a series of requirements.

The requirements involve registration with FinCEN as a money service business or a federal/state chartered bank entity, as well as comply with all relevant legal requirements.

πŸ‘‰ European Central Bank Says Digital Euro Needed To Combat “Artificial” Currencies

The European Central Bank (ECB) claims that a digital euro may be needed to combat the threat of “artificial currencies” from international tech giants.

The statement was made in the ECB’s annual euro report, which expressed concern that domestic and cross-border payments may be dominated by overseas entities – possibly including Facebook’s Diem.