What's Happening in the Cryptocurrency Market? (May 16)

Here are the cryptocurrency news of May 16, the most up-to-date developments, here are the most appreciating and depreciating cryptocurrencies...

Interest in cryptocurrencies has increased significantly during the coronavirus outbreak. However, investors began to closely monitor the movements of important cryptocurrencies such as Bitcoin, Ethereum and Ripple. The most curious cryptocurrencies by investors; How did Bitcoin, Ethereum, Ripple start the day? The cryptocurrency market is very active with the recent news flow. The statements of US President Joe Biden regarding the changes in the tax law, the CBRT's ban on cryptocurrencies from payments, and the addition of crypto asset service providers to the liabilities section by publishing a new regulation with the presidential decision had a great impact on the cryptocurrency market. On the other hand, the negatively affected cryptocurrency market started to recover after US Treasury Secretary Janet Yellen said that interest rates may need to increase moderately to prevent the US economy from overheating due to high government spending. However, Bitcoin, Ethereum and other cryptocurrencies were negatively affected by the decline in the US markets. However, the real blow came from Tesla founder Elon Musk. Musk announced that due to the it's carbon footprint, company will no longer accept Bitcoin as a payment instrument. Thereupon, a big decrease started in BTC. On this news, environmentalist currencies started to gain value. Investors' attention has turned to cryptocurrencies such as Ethereum and XRP, which use far less energy than Bitcoin.

How Much Is A Bitcoin?

Bitcoin, which fell sharply after the said statements, tried to recover with the support of corporate companies, but failed. So much so that BTC prices dropped to the lowest levels from the end of February as momentum waned and bears began to wake up from a six-month hibernation. In the first transactions on Sunday, Bitcoin pulled to its lowest levels not seen in more than 11 weeks and retreated to $ 46,700 before a small recovery. The leading cryptocurrency has recovered slightly, but is trading at $ 48,991.5. The loss of BTC within 24 hours was recorded as 0.39 percent.

What Is The Price of Ethereum?

Like Bitcoin, Ethereum is also in a downward trend today. The leading altcoin has lost 4.29 percent in the past 24 hours and is trading at $ 3,719.91 at the time of writing.

What Is The Price of Ripple?

XRP is doing great on Sunday after a long time. XRP has gained 17 percent in value in the last 24 hours, reaching its highest price of $ 1.6 since Monday. XRP is trading at $ 1,53573 at the time of writing, and its gain within 24 hours has been revised to 13.43 percent.

How Much Was BTT?

BitTorrent, which gained 1.89 percent value in the past 24 hours, is trading at $ 0.005978.

What Is The Price of CHZ?

Chiliz, which gained over 10 percent in yesterday's transactions, lost 4.48 percent in the last 24 hours and is currently trading at $ 0.454760.

Latest News

BtcTurk Responded to Information Leak Allegations It is claimed that the data belonging to the users of BtcTurk, one of the leading crypto exchanges, has been leaked and put up for sale in a forum called Raidforums. However, these allegations were denied. On the other hand, when new data and claims on the subject continued to be put forward, a new statement has been made by BtcTurk. The statement made by BtcTurk included the following statements: “Dear users, as we have stated in our previous announcements, the allegations of data leakage dated May 13, 2021 has been carefully examined by our company's cyber security teams. First of all, the security of Turkish Lira and crypto assets of our users and whether there is any security breach in our system were examined, and as a result of the detailed examination, it was observed that there was no problem or cyber attack. Although there are no problems in the systems of our company, the investigation regarding the alleged period is carried out with precision. If any violation is detected in this regard, the relevant situation will be transparently shared with the authorities and our users at the same time. Currently, there is no security vulnerability or data breach in BtcTurk main systems or test environments. All our users' Turkish Lira balances and crypto assets kept with our company are safe and our users continue their transactions 24/7 safely. However, we respectfully announce to the public that the posts on social media, based on unclear and malicious allegations, are accusing our Company and that include some personal data are in violation of the relevant laws.”