The United States releases new crypto bill
The United States House Financial Services Committee has released the third draft of a stablecoin bill for crypto regulation.
Since yesterday, the top five cryptocurrencies — Litecoin, Bitcoin Bitcoin Cash, Ethereum, and Ripple — have gone down -0.03% in aggregate. Leading the way was Ethereum, whose price is now around $181.06 USD, which yielded holders a return of 2.65% from the day prior. As for the worst-performing crypto out of the Big Five, yesterday that was XRP; it came in at down 3.77%, which drove its price to around $0.24595 USD. In total, three coins were up from the day prior, which is a mixed sign for the crypto sector.
Yesterday was a fairly normal day for all of these cryptocurrencies, in the sense that they fluctuated within the normal daily range we have come to suspect them to move within. Also of note for technical traders are the following developments in price action:
The blockchain that saw the most transactions recorded on its blockchain over the past day was Ripple; its 843,575 transfers added was about 38% greater than the transactions recorded on Ethereum, which was the runner up for transactions logged on its chain over the past 24 hours. Ripple’s transaction fee was also less than Ethereum’s, suggesting transaction fees might be a key reason why users are preferring Ripple. The largest transaction in the cryptocurrency space yesterday, coming in at a value of $124,218,500 occurred on Ripple’s chain. Ripple’s status as the chain with the largest transaction is a rarity; normally, Bitcoin is the blockchain that carries this honour. Whether or not this behaviour continues will be something for traders to watch.
The United States House Financial Services Committee has released the third draft of a stablecoin bill for crypto regulation.
The European Commission aims to use blockchain technology to streamline the cross-border verification process for credentials.
The United States Securities and Exchange Commission files a lawsuit against leading crypto exchange Binance.
After four months of declining figures, the number of Bitcoin ATMs across the world increased significantly in May.