Daily Crypto News

May 19 Daily report: Polkadot’s (DOT) long-awaited para chains, BTC Slips to $40,000, Ethereum ERC20 token converter is on its way, Celo rallies 50%, and Ark Investment tips $20M

BTC Slips to $40000, After Elon Musk, Chinese Central Bank Puts Pressure on Bitcoin

It’s a double whammy for Bitcoin (BTC) investors this week. After Elon Musk single-handedly crashing Bitcoin and the overall crypto market, the Chinese central bank PBoC gives another hammer blow. The overall crypto market cap has once again tanked under $2 trillion and is currently at $1.94 billion. Of this 50% or over $90 billion erosion has been contributed by Bitcoin alone. BTC Slips to $40000, After Elon Musk, Chinese Central Bank Puts Pressure on Bitcoin

Polkadot’s (DOT) long-awaited para chains are launching on Kusama (KSM)

The Polkadot (DOT) and Kusama blockchain developers have entered the final stage of preparation for the launch of the highly anticipated para chain functionality, according to an announcement published by the project’s founder Gavin Wood yesterday. The launch of Polkadot began around ten months ago with the first four phases.

Cardano’s parent company IOHK announces an Ethereum ERC20 token converter is on its way

Input-Output, the technology firm and code maintainer of Cardano, released a new ‘converter’ today that allows users to bring ERC20 tokens (issued on Ethereum) to the Cardano blockchain. Our incoming ERC20 converter will allow Ethereum-based tokens like AGI (SingularityNet) to run on our proof-of-stake blockchain.

Celo rallies 50% as excitement builds for the upcoming ‘Donut’ hard fork

CELO price gained 50% ahead of the network’s May 19 ‘Donut’ hard fork which will help increase interoperability and lower gas fees. A quick scroll through the project’s Twitter feed shows that excitement in the Celo community has been building in recent weeks due to the upcoming ‘Donut’ hard fork that is scheduled for May 19.

Ark Investment tips $20M into Grayscale Ethereum Trust

Ark’s Q1 SEC report revealed holdings of 639,069 shares in Grayscale’s Ethereum Trust, worth more than $20 million. The news of Ark’s major investment into Ethereum was seen as a bullish sign by Ethereum and Defi proponents. Ether bulls have been growing noticeably more confident recently.

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