Secured Automated Lending Technology [SALT], a platform which offers blockchain-backed loans, will now be accepting Litecoin [LTC] as collateral part of their endeavor into the growing crypto-lending ecosystem. The announcement made by the firm on their blog, along with a set of new features, including the removal of the maximum cap on loan amounts, and updated loan solutions to cater to the emergent market.
With the addition, apart from Litecoin, patrons can now procure cash loans on the platform if they are backed by Bitcoin [BTC] and Ethereum [ETH].
SALT has made a name for itself in the niche market for being the top liquidity provider for large-scale cryptocurrency investors, including entities, firms working in the cryptomarket, and miners. Though it’s primary target is to offer loan solutions to large firms, the organization has equally invested in individual customers. This makes it a go-to solution provider for a wide spectrum of clients. With enticing features like a live portfolio valuation, flexible loan terms, 24×7 support, and exclusive custody solution, it is arguably the largest blockchain-based lending platform.
SALT now offers loans in USD with an interest rate of 5.99% for loans up to $75,000, and an interest rate of 11.99% for loans below $25MM. For procuring a loan amount above $25MM, the firm has enabled tailored options. But their interest rates and loan amounts will differ by jurisdiction.
The firm’s token, SALT was first traded on July 28, 2017, and has seen a rise in value recently. SALT’s value increased by 9.25% against USD in the last week and it continues to gradually rise. At the time of writing, it was trading at $0.75, with a market cap of $53,190,028.
SALT currently enjoys a 70,000-strong user base and operates across the globe with a commitment to reach every corner with its legal and licensed lending solutions. The firm aims to open offices in Switzerland, Hong Kong, the United Arab Emirates (UAE), Brazil, Puerto Rico, Bermuda, and Vietnam this year.
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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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