Monero has been out of the spotlight for a while now but has been shooting up behind the doors going unnoticed. With a 47% gain since the past 7 days, Monero [XMR] is the second highest grosser after Bitcoin Cash [BCH] in the top 15.
At press time, trading at $284 to a token, it has a current market cap of $4.5 billion. The current trading value is its highest over the entire week when compared to the beginning of the week when XMR was trading at $191.
Monero has heavy volumes at Upbit, Bithumb, and Binance to name a few from the top exchanges but, it has been very inactive and hidden behind the curtains for a very long time now. While the entire market is fighting and competing healthily with each other, coming up with new upgrades, partnerships, projects and everything possible to uphold themselves, Monero has been in the sidelines slowly making headway to a $4.5 billion market cap.
There were a lot of speculations running around about Monero and its fork MoneroV claiming both to be a scam or a fake coin. Monero [XMR] had announced earlier about a scheduled network upgrade on April 6th and has been inactive ever since then.
According to user comments, the upgrade has brought in some changes but has also left the customers in a huge confusion and with unanswered queries.
“Anything changed.? I see same hash rate. When Hash rate back to normal status.? Any chance of some help with the GUI if you’re familiar with it now? Anybody? what’s happening? I am totally clueless.”
“The new GUI is amazing!! Way to go Monero but try to stay active and interact and inform us often, please. Why so silent and secretive? This makes everything spooky and doubtful.”
Vixen Alessandro commented:
“Monero did a great job. So, With the arrival of those who cannot do the Anti-Asic Algorithm, the situation is getting worse again. Monero should help them too. Even if the algorithms are different, you should do it :)”
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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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