CryptoCorner: ETH Surges While BTC Holds Around $8K, Binance Back Open for Trading, eBay Denies Crypto Rumors
Point Roberts, Washington and Delta, British Columbia--(Newsfile Corp. - May 15, 2019) - Investorideas.com, a leader in crypto and blockchain investing news, in partnership with Fit Pay, Inc.'s (subsidiary of NXT-ID (NASDAQ: NXTD) crypto payment tech, bring you today's edition of the Crypto Corner podcast and commentary on what's driving the cryptocurrency market .
Fit Pay's platform enables Bitcoin holders to seamlessly exchange their cryptocurrency for US dollars and store that value on a contactless payment device that can be used to make purchases at millions of retail locations. More information at: https://www.fliptopay.com/
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Over the last day Bitcoin (BTC) has remained fairly stable, modestly rising and dipping below the $8000 trading price. At press time, the flagship cryptocurrency is trading for $7965 according to CoinMarketCap, which is about 1.3 percent lower than 24 hours ago. Altcoins, on the whole, have performed better, with the vast majority of the top 99 listed by market cap in the green this morning. Of particular note is Ether (ETH), which has grown some 11.3 percent in the past day, reaching a trading price of $230 and a market cap of $24 billion. The general growth of altcoins has reduced Bitcoin's market dominance down to about 57 percent from yesterday's near 60 percent.
Crypto exchange Binance has posted an update confirming that their system upgrade has completed and that trading activity has resumed as of 1:00 PM UTC. In addition to the upgrade, the exchange is holding a promotion until May 18 in which users with trading volumes over 1 BTC across any trading pairs will split in a prize pool of 50,000 Binance Coin (BNB).
New Zealand-based crypto exchange Cryptopia has named audit firm Grant Thornton as its liquidator, as the former goes into liquidation. Cryptopia had been the target of a security breach and major hack in January this year, and as the announcement reveals, liquidation was chosen as the best move forward. Grant Thornton's David Ruscoe, who along with Russell Moore was appointed as liquidator for Cryptopia, commented:
"We realise Cryptopia's customers will want to have this matter resolved as soon as possible. We will conduct a thorough investigation, working with several different stakeholders including management and shareholders, to find the solution that is in the best interests of customers and stakeholders. Given the complexities involved we expect the investigation to take months rather than weeks."
Bloomberg reports that eBay rejected rumors that it will accept cryptocurrencies as payment. A spokesperson for the company said on Monday, "Cryptocurrency is not accepted as a form of payment on the eBay platform, nor is it part of our payments strategy". Additionally, TD Ameritrade denied rumors that it was piloting crypto trading on its platform. Sunayna Tuteja, head of digital assets at TD Ameritrade, told Bloomberg:
"Currently we're not. We have what we call paperMoney, which is what our clients can try for trading strategies. It was a simulation. So there was no actual execution."
Sam Mowers, Investorideas
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