The dawn of 2019 saw major developments for many of the top cryptocurrencies in their respective areas. However, these had not always translated to price fluctuations.
The massive pump in altcoins caused some people in the crypto community to term it as the “altcoin season”. This seems to be true as altcoins are pumping, while mainstream coins like BTC, ETH, and XRP are struggling to stay afloat.
Binance Coin is the top-performing coin in the top 10 cryptocurrencies list after seeing a massive pump of 170% since 2019. Considering the market at press time, the change in price was a massive 160%.
The community speculated that Binance Coin surged after the launch of Binance DEX. The coin continued to pump long after the announcement of DEX.
The silver to Bitcoin’s gold, and the fourth largest cryptocurrency performed better than its counterparts in 2019. The price of Litecoin saw an increase of 88.45% since the beginning of the year. However, if the peak of the prices were to be considered, the change would amount to 102.68%.
Litecoin adoption caught major traction in the crypto-verse after developers confirmed the implementation of privacy updates, including Taproot, MimbleWimble, and others.
Bitcoin was struggling to see an increase in price, but couldn’t stay above the major resistance level at $4,000. YTD change in the price of Bitcoin amounted to a mere 7.59% before the price rallied on February 24, 2019. However, the prices fell and continued the sideways movement. Bitcoin hit a maximum price change of 13.05% due to a spike on February 24, 2019.
Ethereum was doing slightly better than Bitcoin, as its price had gone up by 8.66% since 2019. The Constantinople update for Ethereum caused a stir in prices, but a major spike was seen on February 24, causing Ethereum’s maximum increase in price amounting to 28.59%.
The third largest cryptocurrency in the world performed worse than BTC and ETH. XRP’s price change in 2019 was -11.45%. The price of XRP, at press time, was lower than its 2019 opening price. Even when the collective market surged in February, XRP’s peak amounted to a change of only 0.24%.
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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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Bitcoin price prediction: BTC prices primed for small correction that could evolve into a major correction
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