What's Happening in the Cryptocurrency Market? (May 28)

Here are the cryptocurrency news of May 28, 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?

Bitcoin fell from $ 38,303 to $ 36,500. Before this decline, Bank of Japan (BoJ) Chairman Haruhiko Kuroda sharply criticized Bitcoin. Haruka Kuroda said, "Bitcoin is a speculative asset and risky", stated that fixedcoins can facilitate payments in the field. Kuroda added that Bitcoin was almost never used as a solution tool. With this news flow, the daily loss of BTC increased to 9.44 percent and is traded at $ 35,570.7 at the time of writing.

What Is The Price of Ethereum?

With the decline in Bitcoin, Ethereum lost nearly 10 percent in value and started trading at $ 2,485.12. The market value of ETH, which fluctuated between 2,463.47 - 2,760.17 dollars during the day, became $ 286.76B.

What Is The Price of Ripple?

The crypto market started on Friday with losses. XRP, which has lost value like Bitcoin and Ethereum, has declined by 13.28 percent in the last 24 hours. XRP is trading at $ 0.86503 at the time of writing. This decrease in XRP was recorded as the biggest one-day drop since May 23.

How Much Was BTT?

BitTorrent has lost 13.61 percent in value in the last 24 hours and is trading at $0.003700 at the time of writing.

What Is The Price of CHZ?

While the green color continues to dominate the crypto market, Chiliz has gained 12.45 percent and is currently trading at $ 0.276649.

Recent news

WisdomTree Applied to SEC for Ethereum ETF  WisdomTree, which previously applied to the US Securities and Exchange Commission (SEC) for the Bitcoin ETF, this time applied for the Ethereum ETF. Thus, the number of Ethereum ETF applicants in the USA increased to two. If the application is accepted, investors will not have to buy Ethereum directly and will be able to invest directly in the leading altcoin. Bitcoin Criticism from BoJ Chairman Bank of Japan Governor Haruhiko Kuroda criticized Bitcoin for its recent sharp movements. Said, “Most transactions are speculative and volatility is exaggeratedly high. It is also used very little as a means of payment.” "Fixed Coins Are Better" Stating that stable coins are better than Bitcoin, Kuroda said, “There are assets behind fixed coins to protect them. Of course, they should also be set to legal standards and managed healthily so that they can be used properly in payments.” The heads of other central banks have also made negative statements about Bitcoin.