The past one week has been a roller coaster ride for the cryptocurrency world, with a sudden bear surge bringing a buzz back into the cryptosphere. The top-ten cryptocurrency club has seen rank changes and price surges over the past seven days in such a significant fashion that it would be hard to believe that a sustained bear hold had ensued before this.
The magnitude of the price increase is made evident when one sees the difference between the two highest and the two lowest gainers in the cryptocurrency club.
Bitcoin Cash [BCH], after the hard fork, has emerged as the biggest weekly gainer, clocking a spike of a whopping 94.28%. The increase has also lifted Bitcoin Cash from below the number five position to its old stronghold at number four. At the time of writing, BCH was holding a market cap of $3.265 billion, with an increase in 24-hour volume to settle at $1.11 billion.
BCH was closely followed by EOS, with the Brock Pierce co-founded cryptocurrency shooting up at the rate of 40.56% over the past week. Just like Bitcoin Cash, the arrival of the bull has placed EOS at its usual haunt of number five on the cryptocurrency charts.
At press time, EOS was holding a market cap a few million more than Stellar Lumens [XLM] at $2.448 billion. The cryptocurrency also had a 24-hour market volume of $1.353 billion.
Coming to the lowest gainers, it is important to mention the two cryptocurrencies have risen at a significant rate, but the magnificent bull run has affected other cryptocurrencies in a much better fashion.
The cryptocurrency that gained the least over the past week was Tether, with the stablecoin just recording a 2.14% rise on the charts. During the period, research also bought into light some information about Tether’s speculative linked funds. Tether held a market cap of $1.903 billion, with a 24-hour market volume of $6.534 billion, which was figure second to just Bitcoin [BTC].
Next on the list of least gainers, was Stellar Lumens [XLM], which after rising just 2.14%, was ironically one of the biggest gainers before the latest bull run. The Jed McCaleb co-founded cryptocurrency held onto a market cap of $1.903 billion with a 24-hour market volume of $124.007 million. Just a couple of days back, Stellar Lumens had rocketed to the number 4 position, dismantling Bitcoin Cash from the position.
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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
Crypto News – 25 May – Tether’s [USDT] market capitalization hits all-time high, Facebook in talks with Winklevoss twins, trading firms over new cryptocurrency and more
— AMBCrypto (@CryptoAmb) 25 May 2019
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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