With the entry of many institutions into the field of cryptocurrencies, mainstream coins have been trying to up the game with partnerships and tie-ups. However, updates alone haven’t captured headlines in the field of cryptocurrencies, as several proponents of the field have also came out in support of them.
This was evidenced when Anthony Pompliano, a popular Bitcoin supporter and partner at Morgan Creek Digital, tweeted that “Bitcoin is cheaper & faster than the most popular remittance platforms.” He made the comment based on the transaction times of popular remittance platforms like Western Union, Remitly, Money Gram and Transfast.
According to sources, Western Union and Remitly both take around 432,000 seconds to settle transactions. In comparison, Bitcoin just takes 4680 seconds to do the same. A Twitter user and cryptocurrency enthusiast, Thunder Bolt, commented,
“Western union and moneygram increase their fees with the amount and get more ridiculous as it goes up.”
However, after Pomp came out in support of Bitcoin, Ran NeuNer, host of CNBC’s Cryptotrader, openly endorsed XRP. He said,
“And XRP is faster and cheaper than Bitcoin…”
NeuNer’s comments certainly had its critics, with one user stating,
“There are always trade offs. XRP is centrally controlled garbage.”
As a rebuttal, TzScanK1, an XRP supporter said,
“Cause Satoshi’s huge stack of BTC, which are not locked up in any sort of escrow, is any different than Ripple’s stash of XRP. GTFOH! At least XRP holders know that Ripple has the incentive to expand the ecosystem. Satoshi on the other-hand…. And don’t get me started on China!”
XRP has been a recurring character in the crypto news space, with the latest news being Binance’s Trust wallet adding support for XRP. Viktor Radchenko, founder of Trust Wallet claimed,
“We want to increase access to crypto and decentralized applications for all users. Adding credit card payments is one piece to furthering cryptocurrency adoption and realizing our larger vision in helping to bring the freedom of money, and we will continue to integrate more blockchains and features to Trust.”
Bitcoin, on the other hand, has been hit by a few recent setbacks, including the dramatic fall in BTC’s market volume. It has been speculated that this fall can be attributed to the end of the Veriblock testnet, or the massive power outage in Venezuela.
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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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