What's Happening in the Cryptocurrency Market? (May 17)

Here are the cryptocurrency news of May 17, 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 changes in the tax law, the CBRT's ban on cryptocurrencies from payments, and then 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. On the other hand, the real blow came from Elon Musk. Musk announced that due to the it’s carbon footprint, Tesla will no longer accept Bitcoin as a payment instrument. The decline that started after this announcement took another blow with Musk's last post. BTC fell below $ 45k.

How Much Is A Bitcoin?

Bitcoin suffered another blow with a post by Elon Musk today. Famous billionaire gave the message that the he could sell the Bitcoins held by Tesla and caused BTC to pull up to the level of 45 thousand dollars. A user named Mr Whale said, “Bitcoin investors will slap themselves in the next quarter when they realize that they are selling Bitcoins held by Tesla. Given the hatred towards Elon Musk, I wouldn't blame him… ” Musk answered "Absolutely" to his post. BTC is trading at $ 43,631.7 at the time of writing. The loss of the unit within 24 hours was recorded as 9.55 percent.

What Is The Price of Ethereum?

With the sharp fall in Bitcoin, altcoins, especially Ethereum, started to lose value. Ethereum declined to $ 3 thousand 154. Ethereum, which has lost 9.80 percent in the past 24 hours, is being traded at $ 3,278.17 at the time of writing.

What Is The Price of Ripple?

XRP, which declined with the depreciation of the leading cryptocurrency, lost 1.62 percent and is currently trading at $ 1,46055.

How Much Was BTT?

BitTorrent, which gained nearly 2 percent in yesterday's transactions, lost 8.65 percent in the last 24 hours. BTT is currently trading at $ 8.65 percent.

What Is The Price of CHZ?

The cryptocurrency market was painted red on the first day of the week. Chiliz was added to the altcoins affected by the loss of Bitcoin, the most valuable cryptocurrency in terms of market value. CHZ has lost 8.80 percent in the past 24 hours and is currently trading at $ 0.400534.

Latest News

Complaint to CIMER About Elon Musk Elon Musk, founder of world-famous electric car manufacturer Tesla and space transport company SpaceX, was subject to a complaint at the Presidential Communication Center (CIMER) by an unknown person. The following expressions were used in the complaint sent to CIMER: “I am complaining about Elon Musk, owner of SpaceX and Tesla. He is constantly manipulating the market. He puts people in harm's way. He is constantly tweeting about Doge. People suffer from this condition. My request from you is to impose a fine on Elon Musk in accordance with the provisions of the CMB. " Ethereum's Founder Burned 410 Trillion SHIB Vitalik Buterin, co-founder of Ethereum, burned 410 trillion Shibas sent to his wallet by the project's founders. The Shiba team sent 50 percent of the token's total supply to Buterin's wallet. This amount is equivalent to approximately 500 trillion SHIB. ETH founder Buterin noted the following in the transaction hash: “I decided to burn 90 percent of the Shibas left in my wallet. The remaining 10 percent will be sent to a charity with similar values ​​to the crypto aid fund (preventing loss of life on a large scale) but focused on the longer term. Covid is a big problem right now, but it is necessary to think about the long-term future! "