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| Photo : Pexels |
The cryptocurrency market has been in steep decline over the last two weeks due to environmental worries about bitcoin mining, China's prohibition, and conflicting signals from one of its most vocal supporters, Elon Musk.
On May 26, cryptocurrency values had recovered and were trading with modest increases. Bitcoin, which accounts for roughly 43% of the total crypto market cap, has dropped as much as $35,985 in the last 24 hours but is still trading above the day's peak at the time of posting this copy.
Musk seems to have changed his mind on accepting Bitcoin as payment for Tesla after declaring the suspension earlier this month, noting the "rapidly growing use of fossil energy for Bitcoin mining."
Musk tweeted that he had "promising conversations" with North American Bitcoin miners about the digital currency's survival, and that they had promised. Following the post, the price of Bitcoin skyrocketed to about $40,000 a coin.
At the time of writing this copy, the global crypto market cap stood at $1.71 trillion, a 4.02 percent increase over the last day. However, the total cryptocurrency market volume saw 14 percent over the last 24 hours. Further, the volume of all stable coins is now $143.71 billion, which is 79.00 percent of the total crypto market 24-hour volume.
The below are the values of the top ten cryptocurrencies as of 12:30 a.m. on May 26. (data from coinmarketcap.com)
- Bitcoin $40,676.43
- Ether $2873
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| Photo : Pexels |
- Tether $1.00
- Binance Coin $376.65
- Cardano $1.76
- XRP $1.05
- Dogecoin $0.36
- Polkadot $24.20
- USD Coin $1.00
- Internet Computer $150.25
Source : Money Control
Tips & Tricks
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