What's Happening in the Cryptocurrency Market? (May 5)

Here are the cryptocurrency news of May 5, 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 world is going through a very active period. 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. With the news that JPMorgan Chase would set up a Bitcoin fund to be actively managed in the early days of the summer to offer it to certain customers, BTC, which went above $ 55,000, fell to over $ 52,000 with profit sales. Bitcoin, which started to recover on the first day of the week, declined yesterday and started to be traded at around $ 56,200. Ethereum continued its rally and climbed to $ 3,450.

How Much Is A Bitcoin?

Bitcoin, which fell on May 4-5, then increased once more, is now holding on to the support. After its depreciation, BTC found support for the 0.5 fib Retracement level at $ 53K and bounced from there. The leading cryptocurrency is currently trading at $ 55,852.

What Is The Price of Ethereum?

Ethereum continued its rally on the new day, hitting an all-time high of $ 3,520 against the US dollar. It seems likely that a new rally above $ 3,400 will form. The leading altcoin, which is currently losing a slight value, is trading at $ 3,366.37 at the time of writing. The loss of ETH was recorded as 3.01 percent.

What Is The Price of Ripple?

XRP is showing a fluctuating chart on Wednesday. XRP, which had its share of the general decline in the markets affected by the statements of US Treasury Secretary Janet Yellen yesterday, was pulled to the level of 1.32 dollars. The popular altcoin, which saw above $ 1.40 on the new day, has gained 9.57 percent in the last 24 hours and is trading at $ 1,58860 at the time of writing.

How Much Was BTT?

The positive mood in Altcoins was also seen in BitTorrent. BTT, which gained value by 8.70 percent in the past 24 hours, is being traded at $ 0.007070 at the time of writing.

What Is The Price of CHZ?

Chiliz, on the other hand, has regressed slightly against the US dollar. The loss of CHZ within 24 hours was recorded as 0.42. CHZ, which does not make much profit to its investors, is bought and sold at $ 0.517195 at the time of writing.

Latest News

Ripple Seeks Trading and Investment Expert Ripple, whose lawsuit with the SEC has been going on for months, seems very persistent in continuing its investments. The company has posted a job posting to work with experienced names in the industry to make new purchases and investments in the cryptocurrency and fintech universe. The person who will work in Ripple is expected to accelerate the company's strategic purchases and investments. Galaxy Digital Buys BitGo Galaxy Digital, owned by Mike Novogratz, known for its cryptocurrency investments and support to the industry, buys BitGo, a cryptocurrency storage service, for $ 1.2 billion. The purchasing phase will not take place with direct cash payment. According to the agreement made; BitGo shareholders will receive $ 33.8 million from the parent stock of the newly issued Galaxy Digital company and $ 265 million in cash.