On the 1st of this month at 00:00 UTC, Ethereum [ETH] was trading at $627 to a token on Coinbase. Today, just three days later at 04:15 UTC, Ethereum at press time was trading at $724 to a token with a market cap of $71 billion, witnessing 14% jump over the past week.
Many speculate Vitalik Buterin’s announcement of “sharding” made a difference to prices but many from the community say, investors do not understand the concept of “sharding” and the current rise in prices are just a shift in sentiments.
Bitcoin Cash [BCH] after hitting a resistance at $1560 around the 24th of April had pulled back to trade around $1300. BCH has recovered since yesterday at press time was trading at $1504 to a token with a market cap of $25 billion, witnessing a 12% bump in the past 24 hours. Chart analysts argue that a break in the minor resistance at $1550 could indicate bull run and take BCH prices up to $1800.IOTA [MIOTA] has witnessed a 15% jump in the past 24 hours and is currently trading at $2.27 to a token with a market cap of $6.3 billion. It has pushed TRON [TRX] back down from the 9th position on coinmarketcap.com.
Fujitsu had recently commented that IOTA has the potential to become the new Global Automation Standard.
The consistent growth over the past 24 hours has almost all the coins up in green with the leader in the Top 30 being Verge [XVG] which is leading the pack with a 21% gain in the past 24 hours.
After the Pornhub and Brazzers partnership, Verge had taken a beating. Many have argued that free giveaways could have been the reason for the recent sell-off while others from the community felt that those partnerships left a sour taste.
The biggest gainers over the past week have been Cardano [ADA] which has witnessed a growth of 40% in the past 7 days followed by Vechain [VEN] which has witnessed a spike of 37% in the past 7 days.
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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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XRP: Massive amounts of cryptocurrency moved as Ripple, Nexo come into the picture
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