After a sour bearish week, most cryptocurrencies are back in the game with charts shining green all around. Among the Top 20 tokens according to their market cap VeChain [VEN], Binance Coin [BNB] and NEM [XEM] are the major leaders showing a gain above 16% in the past 24 hours at press time.
Bitcoin moving to green generally indicates other tokens gaining momentum, the major winners from the past 48 hours have been Stellar Lumens [XLM] which even yesterday showed a constant positive growth of 10%. At press time XLM was trading at $0.23 to a token with a market cap of $4.3 billion showing a growth above 11% in the past 24 hours.
With the possibility of more ICOs and token shifting or using Stellar, the community believes Stellar could essentially be the new ETH and is poised for a massive bull run.
TRON [TRX] which has been constantly in the news over the past month with the launch of their Test Net was bashed on social media the day after Test Net was launched with TRX losing over 10% in 24 hours that day. Things are now back to green with the market gaining momentum and TRX at press time was trading at $0.034 to a token with a market cap of $2.2 billion and a 10% growth in the past 24 hours.
DASH which generally sits on the charts silently has gained 10% in the past 24 hours and at press time was trading at $326 to a token.
Ilia Rielly, an investor who invested in early November last year says,
“The current rise feels temporary. I’ve trained myself to not get excited with short gains. Once BTC breaks through 11.8 dollars then we could classify it is a “bull run”. Tron, Stellar have been in the news so much that I feel, the moment we get a confirmed break-through, these coins could be potential bull leaders.”
A look at BTC order book in several exchanges reveals that a drop below $5900 is extremely difficult unless heavy sellers with huge volumes push through. Analysts say that the current increase in BTC prices to $7300 (at press time) could possibly continue till $7500 before hitting a sell-wall. A breakthrough from there could propel prices back to $8000.
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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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