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At -29% Ethereum Classic the biggest loser this past week – sentiments turn bullish

Sthuthie Murthy

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Ethereum Classic leaning towards a double digit negative peak
Source: Pixabay

Ethereum blockchain’s continuation, Ethereum classic has been in the headlines in the crypto world for a fair amount of time now. It preserves the untampered history which is free from external interferences and is subjective to tampering of transactions.

ETC is a decentralized platform running on smart contracts, basically Dapps. These are programmed without downtown possibilities, censorship, fraud or third-party interference.

The cryptocurrency markets, as usual, have been on a bearish trend this past week, ETC being hit the hardest over the past 7 days with a 22% decline. ETC is currently ranked at 17th with a market cap is around $2.9bn and a 24-hour-volume of $705,084,000.

Osumah, a Twitter user comments:

‘It’s painful to see classic price drop dramatically”

The biggest markets of ETC are Bithumb and OKEx with 18.28% and 16.46% volume. It did reach a positive peak value of $39.01 USD on February 24, at 22:08:34 UTC but it is now on a negative trend.

Lately, there have been a lot of speculations about ETC, especially the Callisto airdrop, and the Crypto Twitter tweeting up a storm about ETC.

Marina Beetle, a market observer stated:

“Some have dubbed ETC a shitcoin, as if we’ve existed this long to just be another pump and dump. We haven’t, we aren’t, and we won’t be if I have anything to say about it.”

There will probably be no single winner. Every blockchain still needs to improve their usability and ETC has made great strides regarding the same. They have various well-working wallets: Emerald Wallet [CEW], a simple DNS-like system [via CEW], mobile wallets and a lot more yet to be released.



Anthony, a coder, Project Manager and a blockchain enthusiast quoted:

“We’re very anti-pump and dump, want to know why ETC’s price doesn’t rise endlessly like other coins? Because when you join our forums you may very well find that many in the community won’t promise you the moon, and we’re aware of our flaws and working hard to fix them. We think this will make ETC much more widely used in the long term, at the cost of short term lambo-moon pipe dreams.”

Richard Thingsen, a cryptocurrency investor from Shillong says,

“I’m here to make money, not worship the tech team, don’t care about ETC’s flaws, need people to believe in the tech so that investors will start diversifying their assets here. It definitely has hope, looks like ETC has bottomed out and its only up from here. All depends on BTC market”





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Sthuthie Murthy is a full-time reporter at AMBCrypto. She has been researching and writing about the Blockchain technology for a year now. Her passion for blockchain has led her to be a part of AMBCrypto's news reporting team. She does not hold value in any cryptocurrencies currently.

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Tether’s [USDT] market capitalization hits all-time high, Facebook in talks with Winklevoss twins, trading firms over new cryptocurrency and more

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Tether’s [USDT] market capitalization hits all-time high, Facebook in talks with Winklevoss twins, trading firms over new cryptocurrency and more

Daily Crypto News – May 25

1) Bitcoin Wallet receives part of 5,000 BTC: A recent Whale Alert highlighted a transaction on May 24, where a large sum of Bitcoin [BTC] exchanged hands between two anonymous wallets. According to the alert the transaction took place at 22:13:23 + 1 minutes and 5,000.00001092 BTC was transferred from an unknown wallet, with address 19SiCYaYKZh9A8HUjuh14eg5wtYzKxiFbB, to another unknown wallet with address 14GcjGjxwadzcpmq9EG3KUgTKATjurbnWt.

Read more at https://bit.ly/2VRQwb0

2) Bitwise Report 2.0: Bitcoin [BTC] futures continues growth: On a month-on-month basis, Bitcoin Futures saw a massive bump in April trading at an average of 10,000 contracts daily, peaking on April 4, with over 22,000 contracts traded. To put that number in perspective, in March 2019, the average contracts traded was less than 4,000. Despite the high standards set in April, the average daily contracts traded in May, with 25 days gone has exceeded 14,000 and still looks to grow, given the price performance of Bitcoin.

Read more at https://bit.ly/2W40sTR

3) Craig Wright on private keys: Craig S Wright has, for years, claimed he is the true creator of Bitcoin [BTC] without providing a shred of evidence to support the same. With the crypto-community levelling, Wright could prove his worth by sending BTC from Satoshi Nakamoto’s touted wallet containing around 980,000 BTCs, the BSV man in a twisted cause and effect situation, stated he will “sign” into his wallet only when he proves he is the creator.

Read more at https://bit.ly/2X6fdlw

4) Tether’s [USDT] market cap hits ATH: Tether and Bitfinex are being closely scrutinized now more than ever due to the NYAG’s lawsuit; however, the scrutiny doesn’t seem to have affected Tether as the market cap of USDT has increased by over $100 million in approximately 70 days.

Read more at https://bit.ly/2McaTjE

5) Tether volume shift: Another controversial topic in the cryptocurrency industry was the issue of fake transaction volumes on many of the popular cryptocurrency exchanges. The magnitude of the topic was so large that even Changpeng Zhao, the Chief Executive Officer [CEO] of Binance had raised red flags. This topic and Tether as a whole received another twist when Larry Cermack, the Director of Research at The Block, pointed out a few parameters when it came to the said volume.

Read more at https://bit.ly/2wmk4mJ

6) Bitfinex’s LEO tokens listed on Delta Exchange: Bitfinex’s Leo tokens faced quite a lot of criticism when they were announced, due to the missing $850 million funds from Bitfinex. The private investment round by Bitfinex also faced a lot of heat from the media. However, in a recent development, Leo tokens are being listed on various exchanges for trading.

Read more at https://bit.ly/2HUEnNB



7) Robinhood en-route a projected valuation of $7 billion: Robinhood, the California-based cryptocurrency exchange made headlines recently when a source close to the organization revealed that it was on the verge of closing their latest round of funding at a valuation of a whopping $7 billion – $8 billion. Sources even claimed that the current round of funding could act as a precursor to an even bigger round of funding, which would pit Robinhood with the bigwigs like Coinbase and Binance.

Read more at https://bit.ly/2W64KKj





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