Latest New From the Crypto Market on May, 7th
Most of us slept this night but the crypto market didn’t. Let’s see what it meets Friday with.
- Bitcoin entered May, 7th with a decline. Yesterday it was traded around $58,000 but now its price fell down and at the moment of writing this article it costs $55,829.
- Cardano showed the best results among Top-10 of the most capitalized cryptocurrencies in the last 24 hours. It added 7,6% after the news about Kraken’s new option of ADA staking. Dogecoin also feels good this week, adding overall 76.85% of its value. Qtum and Telcoin became the leaders of Top-100 this week, adding 80.39% and 480.86% respectively. Bitcoin Gold lost 17% in 24 hours, and PancakeSwap lost 21.03% in a week.
- The IRS now has a right to demand the information about the users’ deals from Kraken. The American tax service is interested in the big deals performed in 2016-2020, taking actions against tax evasions in the crypto field.
- The Head of England’s Bank, Andrew Bailey, shared his skeptical opinion about the cryptocurrencies during the conference with his colleagues. He considers them risky and lacking the real value.
- Jack Dorsey’s Square hit a record earning $3.5 billions on selling Bitcoins through their mobile application CashApp. This information comes from their report for the 1st quarter of 2021.