What's Happening in the Cryptocurrency Market? (May 25)

Here are the cryptocurrency news of May 25, 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. The decline started when Musk announced that the company would no longer accept Bitcoin as a means of payment due to its carbon footprint. Cryptocurrencies have plummeted as China banned Bitcoin and cryptocurrencies. Later, volatile cryptocurrencies started to rise again in yesterday's transactions.

How Much Is A Bitcoin?

This morning the moving average restricted further growth in Bitcoin price. In the morning the pair tries to find a place in a horizontal range using the $ 37,150 level. In the event of a break above the average price level, the pair could continue to recover up to $ 42,447. If the bears pull the price below $ 37,150, the $ 36,000 level can stand out as support. BTC is trading at $ 37,632.7 at the time of writing.

What Is The Price of Ethereum?

Ethereum, affected by the successive declines in the crypto market, is trying to regain power. Ether, which broke a record by reaching $ 4,362 on May 12, fell by 60 percent in just 11 days and was pulled to $ 1,739 on May 23. The leading altcoin is trading at $ 2,546.91 at the time of writing. ETH's gain in the last 24 hours was 3.27 percent.

What Is The Price of Ripple?

XRP gained 9 percent in value, making it the highest earning unit today. XRP is positioned in the region it focused on as it attempted to return to vitality at $ 1. This means investors are building up strength for the next big step forward. If XRP continues to trade above the $ 0.90 level, there is a good chance that it will reach the mirror level from $ 1.18 in a short time. XRP has increased its earnings by 7.96 percent over the past 24 hours and is trading at $ 0.93686 at the time of writing.

How Much Was BTT?

BitTorrent has gained 13.41 percent in the past 24 hours and is trading at $ 0.003943 at the time of writing.

What Is The Price of CHZ?

While the green color continues to dominate the crypto market, Chiliz gained 2.89 percent and is currently trading at $ 0.248441.

Recent news

Bybit Cancels Chinese Accounts Cryptocurrency exchange Bybit made an important decision for Chinese citizens. Stated that the accounts registered with the Chinese phone number on the Exchange will be canceled as of June 15. Its China’s Turn After The UK Having made the same decision for its UK customers at the end of March, the crypto derivatives exchange will now take steps for its Chinese users. It is considered that mining and crypto news from China played an important role in making this decision. LMAX: Institutional Firms Considered the Decline in BTC as an Opportunity LMAX Digital stated that Bitcoin's dropping to $ 30,000 last week is seen as a purchase opportunity by corporate companies. Evaluating the recent developments in the cryptocurrency market, LMAX Group CEO David Mercer said: “Of course, it was a purchase opportunity for those who looked to the business long term. Did they get it in 28 thousand, 35 thousand or 40 thousand dollars? We cannot know this "