Cryptocurrency News: 21st – 27th of May (Coinbase, Verge, Ripple, Request, Funfair, Bitcoin)

by birtanpublished on October 31, 2020

Hello the Republicans and welcome to another video of my cryptocurrency news series where I'm looking at the news that happened last week now today's 28th of May and I'm looking at needs that happen between 21st to 27th of May as always thank you very much for watching this video and I did hope it will be useful indeed we will begin with the market situation which is not a great basically so the market recorded some significant losses this week as you can see here Bitcoin – 15 % and it still managed to outperform the alkanes which is not surprising really

Whenever market is doing badly alkynes tend to do worse then Bitcoin I am personally quite surprised that both is cerium and V chain did so badly both of those projects are basically my biggest holdings and my favorite projects out there so I am a bit disappointed in that but I still think both of those would be actually a decent purchase at these these levels are not a financial advice as always now if we look at the graph we can see that the price has been moving down quite steadily down however we have also seen some significant drops like here here or

Here which would indicate some price manipulations especially if we consider the price did increase quite significantly not long after us visible here or here for example now suddenly those increases did not outperform that increases which is why overall the market is still in the downtrend now it's quite difficult to say whether that's going to continue or not since the price is already pretty low when compared to what we had before we could expect a reversal however this downtrend could still continue for another week or two in my opinion so I

Know it's not very useful but at this point I would say it's digit impossible to predict what's going to happen next week that's pretty much it now let's go to the news and the first news is about coinbase where they acquired a trading platform called para decks on 23rd of May crypto currency exchange point base has acquired puradox which is a platform that enables users to trade the coins directly with each other so it's a peer-to-peer platform now they do plan to make some enhancements to the Tecna and the system basically launched those services to customers outside of United

States that would enable them to trade hundreds of tokens now this what's significant in expanding types of cryptocurrencies that the customers are able to access through the app coinbase as you know currently combis allows to trade Bitcoin III Ripple and I think at this point Bitcoin cash as well I'm not actually sure about that if it's I know they're supposed to enable it but I haven't checked it's in quite a while so traditionally there has been very conservative especially when compared to the competitors in terms of the listing

Of the new types of coins but through puradox Ida saying that might potentially change doctrine which would be absolutely great the more coins are purchasable through the fiat currency the less price of bitcoins should affect them so that means we all see less volatility for the out coins in the situation which is definitely something we need because now whenever Bitcoin decreases in price alt coins decrease worth it which is not what we want ready then we have news about verge so on 22nd of May difficulty verge has suffered what executives of the cryptocurrency

Are claiming to be a DDoS attack that means as I see people trying to block the network by making a lot of transactions so because of that the platform was experiencing a serious delay in its blockchain which led to do some security concerns amongst users and worries about the cryptocurrency stability now what developers said they said it appears some mining pools are on the DDoS attack and we are experiencing a delay in our blocks we are working to resolve this however some of the users are implying that that was not the case and the problem was more serious so the

Attack lasted more than few hours and resulted in over 35 million tokens being stolen which is around 1.7 million u.s. dollars and it has seemed that the theft occurred when hackers exploited a specific glitch in the technology by mining multiple blocks virtually one second apart using the same algorithm which is basically the same thing that's happened last time which I did mention in one of the other news videos so it seems like that problem is still there and it's still possible to exploit it which is not a great for the cryptocurrency Verge which I personally

I am NOT a big fan of because I don't think it offers anything better than the competition again my opinion and not any financial advice then we have news about ripple and Ashton Kutcher on 24 from a actor and the advisor Ashton Kutcher surprised and well it probably wasn't a surprise I'm pretty sure it was all set up in advance but on Wednesday he gave her a 4 million gift in a cryptocurrency ripple 4 million u.s. dollars equivalent in cryptocurrency Ripple so the talk show host received a donation to her wildlife charity in the

Tokens on her 60th birthday life on The Ellen DeGeneres Show obviously everything was made to look like it was a big surprise but in reality I think it was all set up beforehand so what the guy said by the guy I mean Ashton Kutcher he said usually people come out with the big giant check and the big giant check thing but because the donation was on behalf ripple so he basically can I showed how people currency works by pressing a button and the money was in her account which is cool even though I'm not a big fan of ripple we have to

Consider that Erin she does have 78 million followers on Twitter and overall this is a very very impressive advertisement for ripple cryptocurrency and they seem to be doing very good marketing in that regard this is not the first time ripple was mentioned in a very big US TV show and the thing is actually they're doing a better job than any of the other cryptocurrencies and as we know the cryptocurrency is mostly based on hype and marketing and ripple is doing both of those very very well then we have request network with a very major updates

Big fan of this project in general on 25th of May they release a project update that is highlighting upcoming developments that include but not limited to neural map and that also includes a way to track the progression in real time a visual preview of the crowdfunding applications and there will be crowdfunding we just kind of make sense but they're trying to be the new PayPal and you know PayPal it kind of makes sense for people to use PayPal to raise funds to build whatever software or hardware they want to do so I would kind

Of expect a request network to have something similar on board now they will have a partnership of with air swap as well which is kind of the centralized way to swap token so it's essentially something that a requesting network could use as well and then there's a new documentation JavaScript library to make it more developer-friendly very important request network and there was a hiring of new team members project managers and back-end developers big updates for the very very promising project that basically continues to be the biggest biggest competition and

Could become the next best decentralized PayPal based on what I've seen they do have mostly the partnerships or the make sense of them could positively impact the project very bullish on it my personal opinion as always then we have fun fur which they did the showcase and also will start the closed beta testing so around 24th of May from four technologies raised their latest version of the showcase that offers external participant to basically take part in the closed beta version there is a redesign of the showcase includes a full user interface overhaul across all the

Games and a complete games Lobby rework and also responsive layout having users to use the platform on any supported mobile device now if the node funfair is it's kind of like an online the Centaurs casino to corrode sorry about that and the new showcase platform is available to all of the users to sample and you can test it yourself if you want to for example there also will be it will also be updated with new features as the beta version progresses over the next four weeks now fun fair it has been the leading crypto casino project and it does continue to impress

With the developments now it pretty much depends if you think casinos could profit from being in decentralized and blockchain base if you do think that's the case I do think fund first seems to be the most solid project among all of those and last news is about Bitcoin in general so there will be a criminal probe in the big talk on price manipulation on 24 May it was announced that the Justice Department has opened a criminal probe into other traders are manipulating the price of Bitcoin and other digital currencies as well

Obviously its most about bitcoins Bitcoin is the most well known crypto the investigation is focused on illegal practices that could influence the prices such as spoofing or flooding the market with fake orders to trade or their trick other traders into buying or selling something that is definitely happening now a source is worried that the virtual currencies are successful succeptible to fraud for multiple reasons stuff like for example exchanges actively pursuing cheaters wild price swings that could make it easy to put evaluations around and lack of

Regulations because we all know darlin dream was not no regulations and cryptocurrency trading world so it's quite interesting how the Justice Department even can approach this I don't think they're gonna do any significant changes or pretty much impact anything in any significant manner but still quite interesting and something that enough some people will disagree with and some people will agree with I mean there is a lot of price manipulation but at the end of the day it's crypto currency and that's what it has always been known for some quite

Curious about your opinion about it as always thank you very much for watching this video this was the last news I will continue to do those every week if you like them please subscribe and give a thumbs up and as always thank you very much for watching I love you Cheers and bye

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