Cryptomart Weekly News Review 05.17.2019

Bitcoin began to rise again

Bitcoin cost $7274 on May 13. Analytics believe that if bullish sentiment persists in the crypto market, the main digital coin will overcome again the price mark of $7500. However, they don’t exclude the possibility that BTC may fall below $6762 dollars.

Bitfinex raised $1 billion during the crowdsale

Bitfinex received $1 billion during IEO, which lasted 10 days. Institutional investors have invested more than $100 million in LEO tokens. The average investors took part in the crowdsale too. Each of them contributed more than $1 million.

SEC postponed the decision on Bitcoin-ETF

The US Securities and Exchange Commission (SEC) didn’t approve the launch of Bitcoin-ETF from Bitwise company on the NYSE Arca exchange. However, the SEC decided to take additional time to consider the application.

Cryptocurrency market received new tools

The cryptocurrency society learned about the launch of two platforms for institutional investors. Huobi crypto exchange has opened a regulated OTC platform. The BitGo supplier of custodial solutions announced the launch of the new service for large investors. The company will help them distribute capital more efficiently.

Balances of major crypto exchanges decreased by $622 million

The outflow of funds from Bitfinex, BitMEX, and Kraken crypto exchanges exceeded the inflow by $622 million for five days. Therefore, experts believe that the recent growth of Bitcoin could be caused by the fact that investors began to withdraw assets.

What is Ripple hiding?

Experts have found discrepancies in the Ripple quarterly reports with the blockchain data. The amount of XRP issued was understated by 200 million coins. This amounts to approximately $84 million. Analysts have noted that the distribution of altcoins doesn’t happen as the development team stated earlier.

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