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Bytecoin [BCN], ICON [ICX], Zcash [ZEC] drops by 20% this past week – Bears still ploughing through!

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The bear run continues this week after Bitcoin’s dramatic fall just three days ago. All the top three including Bitcoin, Ethereum and Ripple [XRP] has seen a drop by more than 10% over this past week. Earlier this month on May 5th, Bitcoin almost broke the $10K mark when it reached $9900.

Historically, all virtual currencies follow Bitcoin’s price and this week the story has been the same. Bytecoin [BCN] since it’s alleged pump and dump after the Binance listing had rocketed up by 166% in a few hours post the listing. Since May 8th, Bytecoin [BCN] has lost value by more than 179% when BCN was trading at $0.018 and now dropped to trade at a mere $0.006 per token.



Bytecoin [BCN] tumbling down

Bytecoin [BCN] tumbling down

Zcash [ZEC] had a dramatic spike on the 14th and 15th of May after the Gemini listing when it reached a high of $377 to a token. It has since dropped to $275 which is a 37% drop over the past 10 days. The Gemini listing made Gemini the first licensed exchange for Zcash.

Zcash [ZEC]'s roller coaster ride this past week in the 1-hour chart

Zcash [ZEC]’s roller coaster ride this past week in the 1-hour chart

Icon [ICX] had a 180% jump around the latter half of March when Bithumb listed it. The price rose from merely $1.5 to a token to $4.2 in a matter of 4 days. Right now ICX is trading at $2.6 to a token.

ICON [ICX]'s slow slide over the past week in the 1-hour chart

ICON [ICX]’s slow slide over the past week in the 1-hour chart

AMBCrypto asked investors and critics for their opinions on how these coins were performing. Fred Roger, an altcoin investor with a portfolio of over a $500K says,

“Crypto became famous for its volatility and insane returns. It will continue to do so, but to do that it has to fall. So now is a good time to invest. These coins like Bytecoin and Zcash have proven themselves and these coins won’t be cheap for long.”

Casper Ballard, a financial advisor and a “veteran” crypto-trader says,

“People have fiat targets, I have coin targets. Accumulate more coins and you automatically get richer. A lot of soft weaker hands have exited the market post the December-January chaos. Investing in assets that makes news is good. The attention and frenzy feed prices. ICX and ZEC would be my silent killers for the next bull run”

Abhishek Gupta, an investor from early 2015 says,

“Shit coins will always be shit coins no matter how much you cover it up with glitter. This drop just shows no one believes in this coins. Yes, markets are dropping but not at 20%.”





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Andrea Pierre Jackson is a contributing News writer at AMBCrypto from December 2017. She has previous writing experience with major publishing houses in the UK and the US. Andrea currently does not hold any position in any cryptocurrency or its projects

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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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