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24 Hrs Crypto Update, May 21: Major crypto in red, BTC

Key Takeaways
  • Bitcoin and other leading cryptocurrencies experienced a decline in trading prices on Monday, gradually moving downwards following a recent recovery over the weekend
  • Over the past 24 hours, the market value of several prominent cryptocurrencies, such as BTC, ETH, EOS, and SOL, has taken a negative turn
22-May-2023 By: Lokesh Gupta
24 Hrs Crypto Update
                                                                                            BENCHMARK
Indices LTP Change (%)
BITCOIN $26650 0.53%
ETHEREUM $1800 0.55%
                                                                                         CRPTO STATS(24H) 
Indices VALUE Change (%)
MARKET CAP $1.16 T 1.50%
TRADING VOLUME $24.20 B 12.00%
                                                                                             TOP 5 GAINER
Indices LTP Change (%)
Tokenplace $0.0016 444.26%
NUM Token $0.066 102.53%
dfohub $0.000076 75.78%
DOEX $0.00034 55.34%
Meme $76.92 53.46%
                                                                                             TOP 5 LOSER
Indices LTP Change (%)
MakiSwap $0.0018 55.08%
EDDASwap $47.03 48.98%
LunaChow $0.00000018 45.72%
Zenfuse $0.0032 45.32%
PlotX $ 0.0042 41.90%

Bitcoin has once again been experiencing a downward trend, 

following a brief weekend recovery. The largest cryptocurrency token has now dropped below the $27,000-mark, causing concern among investors. Ethereum, the largest peer of Bitcoin, has also experienced a decline of approximately one percent, but has managed to maintain its position above the $1,800-level. Meanwhile, other alternative cryptocurrencies are currently experiencing significant losses.

Major Events Around the World

During the G7 nations summit, President Joe Biden announced that he had met with all four congressional leaders prior to his departure and reached a consensus that the only viable path forward is through a bipartisan agreement. Biden expressed his disapproval of the proposals put forth by Republicans, deeming them unacceptable. Specifically, he targeted the issue of cryptocurrency, stating that he would not accept a debt deal that shields wealthy tax evaders and crypto traders while jeopardising food assistance for millions of Americans. This stance underscores the President's commitment to ensuring that the needs of the American people are prioritised above the interests of a select few.

The Ripple community has been presented with a plethora of previously undisclosed information regarding the ongoing lawsuit with the United States Securities and Exchange Commission (SEC). Judge Torres has ordered the SEC to release the Hinman emails, which have provided the community with a fresh perspective to consider before the highly anticipated summary judgement is delivered. This new information has sparked a flurry of discussions and debates within the community, as they explore the various permutations and implications of the case. As the legal battle continues to unfold, the Ripple community remains vigilant and engaged, eagerly awaiting the outcome of this landmark case.

On Sunday, the Ethereum client Nimbus announced the release of an update aimed at enhancing network compatibility and supporting incremental pruning. The recent finality issues experienced by Ethereum's blockchain were attributed to the absence of complete pruning measures. As Ethereum continues to evolve in accordance with the roadmap outlined by co-founder and developer Vitalik Buterin, clients will implement necessary changes to improve the overall performance of the network.

COIN GABBAR Views: Is the volatility of Bitcoin, Ethereum, and other top cryptocurrencies Trading Volume Sinks Amid Debt-Ceiling Talks. Stay tuned for updates and the latest news us at www.coingabbar.com

Also read: Swaprum DEX Accused of Rug Pull, $3M in Customer Funds Vanished

Disclaimer: Crypto is not regulated and can offer considerable risks. There may be no regulatory remedies available in the event of any losses resulting from price analysis. As a result, before engaging in any transactions involving crypto products, each investor must perform in-depth examination or seek independent advice.

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