Tuesday, May 26, 2020

IMF commends crypto while SWIFT criticizes it, Truth behind PepCoin: Crypto In-Shorts

The Takeaway:

10th September 2019: Are you tired of scouring the web for the latest crypto-updates? Enter the world of Crypto In-shorts on Chaintimes and find all you need!

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Crypto bulletin

Support, don’t oppose: Chief of the International Monetary Fund

European Central Bank’s presidential nominee, Christine Lagarde favored cryptocurrencies and considered it prudent for the banks and regulators to welcome digital currencies. Lagarde, the current chief of the International Monetary Fund, criticized the shutting down of crypto markets and encouraged regulations to reap the benefits of this technology.

 

Pay extra fees, pal

Paypal, an online money transfer company, has been overcharging its customers on cross-currency and global transactions. Tone Vays, a derivative trader, brought Paypal’s fleecing to light in a tweet and asserted that the surcharge would bring the company’s downfall.

 

PepCoin’s excitement fizzled out

PepCoin’s trademark obtainment by Pepsi in April 2019, led the crypto industry to believe it was developing a cryptocurrency. Disheartening truth, recently, revealed the PepCoin as a loyalty program award. 

 

Bakkt backed by $125 million

Bakkt, recently, announced the protection of all bitcoin deposits in their warehouse with a $125 million insurance. The launch of physically delivered bitcoin futures is less than two weeks away.

 

SWIFT criticism of cryptocurrencies

All cryptocurrencies are useless and unstable, according to an unidentified SWIFT spokesperson. The Society for Worldwide Interbank Financial Telecommunication’s spokesman criticized all digital coins in a breakfast briefing in London.

 

Crypto not so cryptic anymore 

An Indian show, based on Who Wants to Be a Millionaire?, relayed information about cryptocurrencies through one of its questions on Monday. This broadcast to 1.3 billion Indians was brought to the attention of the crypto industry by Warzix’s CEO, Nischal Shetty.

 

Bitcoin Price

Current Bitcoin Price – $10,255.86

Yesterday, Bitcoin opened at a price of $10,443.23. The fluctuations drove it to the lowest value of $10,144.93 and the highest value of $10,450.31 in 24 hours. Bitcoin closed at $10,334.97 and saw a decrease of 1.04% throughout the day. The crypto coin is still below its all-time high value of $20,089.00 by 47.97%.

 

Ethereum Price

Current Ethereum Price – $180.68 

Yesterday, Ethereum opened at $181.36. The fluctuations drove it to the lowest value of $177.42 and the highest value of $184.15 in 24 hours. Ethereum closed at $181.15 and saw a decrease of 0.12% throughout the day.

The crypto coin is still below its all-time high value of $1,432.88 by 87.14%.

 

Cardano Price

Current Cardano Price – $0.047329

Yesterday, Cardano opened at $0.046706. The fluctuations drove it to the lowest value of $0.045501 and the highest value of $0.047211 in 24 hours. Cardano closed at $0.046931 and saw an increase of 0.48% throughout the day.

The crypto coin is still below its all-time high value of $1.33 by 96.45%.

 

Bitcoin Market Cap

The day ended with $184,538,068,025 for the Bitcoin Market Cap.

 Ethereum Market cap

The day ended with $19,659,281,874 for the Ethereum Market Cap.

Cardano Market cap

The day ended with $1,246,506,665 for the Cardano Market Cap.

 

Bitcoin Trading Volume

The 24-hour trading volume of Bitcoin – $16,892,850,647

Ethereum Trading Volume

The 24-hour trading volume of Ethereum – $7,096,843,460

Cardano Trading Volume

The 24-hour trading volume of Cardano – $64,206,375

 

Whale alerts

Crypto enthusiasts beware of these whales

  1. 100,000,000 XRP ($25,945,726) transferred from an Unknow wallet to another Unknown wallet. Transaction ID: 10A09E52ADA2E26931B12F5FBED53A4AF1C2A6BEA3353D025FCD7595D3EFE922
  2. 50,000,000 XRP ($13,063,128) transferred from an Unknow wallet to another Unknown wallet. Transaction ID: AFB57E45CF157F0F5079BBA9B052719C3090C7B72D9FA64E8955D165F6B6A1B5
  3. 9,999,998 USDT ($10,056,909) transferred from Huobi to Bitfinex. Transaction ID: 0x6934e9ebb2783ea88605bbc6d21e94146d471ded9f90e1150f505d1aef97bc36

 

Crypto controversy

Bearish outlook of a twitter user on Bakkt’s launch

What to expect today?

BTC hash rate reached its all-time high of 94,779,758 million TH/s. Hash rate’s 66% growth over the last year reflects the health of the network. Does this indicate a bullish trend?

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Disclaimer: The article reflects the opinions of the author and is not representative of Chaintimes’ views.
The article does not offer any investment advice. User discretion is advised when investing in or trading with cryptocurrency. Extensive and diligent research should be carried out by the reader before making a decision.

Charles Carter
Charles Carter
Charles is an experienced researcher with a Master of Public Administration degree from Humber College, Canada. Apart from being fascinated about blockchain and cryptocurrencies, he loves to drive around the town in his collection of cars.

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