El Salvador Developing Bill To Make Bitcoin Legal Tender – June 7

πŸ“ˆ 30 Second Cryptocurrency Price Summary

Current Bitcoin Price:Β $36,374

Bitcoin price has kicked off the week within the $36,000 range, as volatility continues to taper off.

Top-20 altcoins are looking stable over the last 24 hours of trading, with Ethereum gaining 4%, XRP rising 3% and THETA leads the way with a 7% gain.

Top Stories for June 7, 2021 πŸ”₯

πŸ‘‰ El Salvador Developing Bill To Make Bitcoin Legal Tender

The president of El Salvador is submitting a bill to make Bitcoin legal tender in the country next week, according to Zap CEO Jack Mallers at the Bitcoin 2021 conference in Miami.

Zap is working with the president, Nayib Bukele, to implement a plan for the move, which may make El Salvador the first country in the world to adopt a Bitcoin standard.

πŸ‘‰ “Ethereum Killer” Solana To Raise Up To $450M For Expansion

Solana, a blockchain in competition with Ethereum, is reportedly raising between $300 million and $450 million to scale up its operations.

The Solana chain is well-known for its low costs and high transaction throughput, capable of processing up to 50,000 transactions per second. Ethereum itself averages 10 to 15 transactions per second.

πŸ‘‰ Chinese Social Media Platform Weibo Bans Crypto Accounts

Weibo, China’s equivalent of Twitter, has reportedly banned or suspended several popular cryptocurrency-related accounts citing violations of Weibo guidelines and relevant regulations.

An expert and former China Investment Corporation managing director claimed that the. Chinese government did not want a “Chinese version of Elon Musk” to exist in the Chinese crypto market.