What's Happening in the Cryptocurrency Market? (May 7)

Here are the cryptocurrency news of May 7, 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 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. With the news that JPMorgan Chase would set up a Bitcoin fund to be actively managed in the first 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 continued its rise on May 5 and 6 and climbed to $ 57,000. On the other hand, 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, the negatively affected cryptocurrency market started to recover.

How Much Is A Bitcoin?

Bitcoin seems to have taken a short break after official statements from the US, UK and Turkey after trading at $ 56,180 intermediate resistance. At the time of writing, BTC is trading at $ 58,125.0. In terms of market value, the earnings of the biggest krillptopara unit in the last 24 hours was recorded as 2.29 percent.

What Is The Price of Ethereum?

Ethereum has been performing amazingly over the past few weeks. The leading altcoin has gained over 42 percent in 14 days and has exceeded 60 percent since last month. ETH, which fell as low as 3375.7 in the morning hours, then climbed to the level of $ 3575.61. The second largest cryptocurrency in terms of market capitalization has lost 0.41 percent in the past 24 hours and is trading at $ 3,531.15 at the time of writing.

What Is The Price of Ripple?

Ripple is trying to compensate for the loss in value it suffered on April 25. Despite this, developments in the ongoing lawsuit with the SEC prevent XRP from recovering. Today, the XRP price has dropped 4.55 percent as the SEC requests Ripple to produce and testify on any legal advice it receives regarding the status of XRP. XRP is traded at $ 1.60844 at the time of writing.

How Much Was BTT?

BitTorrent continues to gain in value. BTT, which made its investors smile by trading in the green field, gained value by 7.71 percent in today's transactions after yesterday's double-digit rise. BTT is currently trading at $ 0.008381.

What Is The Price of CHZ?

Chiliz, which has not been able to earn its investors for the time being, has gained close to zero in value by 0.35 percent today. CHZ is trading at $ 0.518910 at the time of writing.

Latest News

Goldman Sachs Establishes Cryptocurrency Team Goldman Sachs, one of the largest banks in the world, stepped up to enter the cryptocurrency industry. Explaining that it started to offer non-transferable futures contracts linked to Bitcoin in yesterday's transactions, the bank announced that it has set up a special working team for cryptocurrency units less than a day after this news. Ripple Whales Increased Ripple company, to which XRP is affiliated, shared the market report containing the notes for the first quarter of 2021. According to the report, the number of XRP holders holding 10 million and more coins increased from 308 to 318.