Stellar Lumens has been on a roll recently, and now, has overtaken EOS to become the fifth-largest cryptocurrency in the world in terms of market cap. The trade volume shows that high volatility is playing a crucial role in the XLM market. The trading volume of XLM is holding at $113.4 million, which is a whopping 99.51% increase in a seven-day time frame.
The market cap of XLM crossed the $5 billion line and peaked at $5.39 billion. The market cap faced a correction and reached $5.23 billion later. XLM is currently holding a strong market cap of $5.23 billion after overtaking EOS, while EOS’ market cap has fallen below the $5 billion line to reach about $4.88 billion.
XLM is currently undergoing a 3.3% hike in price in the past 24 hours, while the price of XLM reached a new high within the seven-day range at $0.2835. The prices have slumped since and reached $0.2766.
The announcement of XLM’s air-drop in partnership with Blockchain company has raised a lot of eyebrows as it could be the biggest air-drop in the crypto-space and as per the announcements, the air-drop in total is worth $125 million.
The trading volume of EOS is well above that of XLM at an excess of $666.01 million.
EOS was in the spotlight a few weeks back due to the research published by Whiteblock which claimed that the EOS is nothing more than a cloud service. The research which was commissioned by ConsenSys to Whiteblock further claims that EOS lacks the most basic feature of the blockchain, “immutability”.
The only respite that the EOS community can find is from the new stablecoin ‘CarbonUSD’ that was launched on the EOS platform. The bad news seems to find its way back to EOS as there was a fake app on Google Playstore that claimed to be developed EOS RIO. However, EOS developers in Brazil [EOS RIO] released a statement which stated that the official app is yet to be developed.
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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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