Price surges in the cryptocurrency market have been dominated by altcoins, with most of the popular ones witnessing double-digit gains. The latest altcoin to surge on the back of the bulls was Tezos [XTZ].
At the time of writing, Tezos was rising by 5.14% on the hourly charts, and by 22.46% on the 24-hour spectrum. The cryptocurrency held a market cap of $367.005 million, while the 24-hour trading volume was at $8.650 million. A majority of the coin’s trading volume was held by UEX and BitMax, two popular cryptocurrency exchanges. UEX contributed to 27.7% of the total XTZ trade, while BitMax posted a trading volume of $1.190 million.
The charts show a perpendicular rise in prices, as the cryptocurrency was moving gradually before it shot up. The price rose from $0.573 to $0.602 in under an hour, according to the charts.
It was speculated by some users that the price rise was owing to the coin’s addition to the Bitfi wallet. Bitfi’s official handle had tweeted,
“Due to popular demand, we are adding Tezos (XTZ). This is a very important smart contracts platform that delivers features that others cannot, like formal verification. #Tezos #XTZ”
Tezos has mainly focused on increasing its developer base, as evidenced by the cryptocurrency organization’s recent partnership with Mainframe.
Mick Hagen, Founder and CEO of Mainframe said,
“We’re witnessing an explosion of developer skills.The blockchain community has turned towards building, and over the next several months with support from Tezos Commons, we’ll host events around the world focused on challenging those developer skills.”
Mainframe’s official release also stated that the partnership entailed strengthening the core developing network, and the resulting DApps. It further added,
“Mainframe and Tezos share the core commitment to advance blockchain development and adoption. With the Tezos Foundation (sister organization of Tezos Commons) announcing plans to train 1,000 developers in 2019, we’re eager to work side by side to accelerate developer experience building dapps using the Mainframe platform.”
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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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