What's Happening in the Cryptocurrency Market? (May 22)

Here are the cryptocurrency news of May 22, 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 recovered 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. Despite all this, the main blow came from Tesla founder 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. Cryptocurrencies, which started the week in a downward trend but recovered slightly on Tuesday, fell rapidly after China banned Bitcoin and cryptocurrencies. So much so that Bitcoin, the most valuable cryptocurrency in terms of market value, declined to $ 30,000.

How Much Is A Bitcoin?

Bitcoin, which declined to $ 30,000 on May 17, then went up to $ 42,000, but saw the bottom again after the statements of China's Vice President. Bitcoin, which fluctuates between $ 35,314.9 - $ 38,776.0 during the day, is trading at $ 38,367.5 as of 8:12 pm.

What Is The Price of Ethereum?

Ethereum fell 10.83 percent on Saturday and traded at $ 2,430.40. This depreciation was recorded as the biggest decrease since 21 May. However, the market value of Ether was $ 281.03B, while the ratio of its value in the total cryptocurrency markets was 17.52 percent ETH is currently trading at $ 2,362.36..

What Is The Price of Ripple?

Ripple fell 16.66 percent on Saturday and traded at $ 0.92658. This is on record as the biggest daily drop since May 19. However, XRP's market value was $ 281.03B, while its share in the total cryptocurrency markets was 2.69 percent.

How Much Was BTT?

BitTorrent has lost 7.24 percent in the past 24 hours and is trading at $ 0.003752 at the time of writing.

What Is The Price of CHZ?

While red continues to dominate the crypto market, Chiliz has lost 8.56 percent and is currently trading at $ 0.258345.

Latest News

Bitcoin Rises After Elon Musk's Statements BTC, which has declined to the level of 35 thousand dollars with the negative news in recent days, has increased by several thousand dollars with the last statement of Elon Musk. The famous billionaire replied to a user on his Twitter account, "The real war is between fiat currencies and crypto. In this balance, I support the latter." The question directed to the famous billionaire was "What do you think about those who are angry with you because of crypto?” Tesla's founder Musk said, "Any magic that is sufficiently developed is no different from technology." 10 Thousand BTC for Two Pizzas "Bitcoin Pizza Day", which is celebrated every year on May 22, was celebrated today. The reason why today is celebrated as Pizza Day is known as on May 18, 2010, a software developer named Laszlo Hanyecz wanted to buy two pizzas for 10 thousand BTC. This transaction took place on May 22, and indeed, a few pizzas were paid with 10,000 BTC. Speaking to the Bitcoin Who's Who website 5 years later, Sturdivant was with the follower of this burning Bitcoin from late 2009. Bitcoin was launched in January of that year. Sturdivant said in that interview that he sold 10,000 BTC, which he bought for $ 40, when it was worth about $ 400. Said, “Bitcoin exists as a currency to spend. I have never looked at Bitcoin as an investment tool, but rather as a currency. I usually take Bitcoin as a payment for a service and spend it the same way.”