Here are the top 5 crypto news for the day!
Let’s dive into the news headlines one by one and see how they’ll be affecting the crypto space as we
know it, in the coming days.
Ethereum Touches New All-Time High Above $4,000
Ethereum (ETH), the world’s second-largest cryptocurrency by market capitalization has broken past $4,000 on May 10, hitting a record high for the third consecutive session. With a market capitalization of over $478 billion, the digital asset has soared almost 450% in this year alone.
Gemini cryptocurrency exchange will now let Dogecoin investors earn an interest of 2.25% APY on their holdings. The interest is earned daily and added to the initial investment, compounding the amount of DOGE held. Interestingly, Dogecoin invested through Gemini Earn isn’t locked, hence investors are free to withdraw their cryptocurrencies at any time.
Vitalik Buterin, the Founder of Ethereum who received 50% of the developers’ token supply, has added $8 billion to his net worth. As the meme coin Shiba Inu (SHIB) price, the knockoff of Dogecoin has risen to over 734% over the last week.
Colin Wu, the Chinese insider journalist, has revealed that the net value of trading across all the spots and derivatives trading pairs on the Binance exchange has managed to reach a new high of over $168 billion in 24 hours. Provided the actual exchange rates, the sum is equivalent to 1.08 trillion Chinese Yuans. The Shenzhen Stock Exchange and the Shanghai Stock Exchange of China were able to process only 833 billion Yuans at the same time.
Mike Novogratz, the CEO of Galaxy Digital, has suggested listing Bitcoin’s smallest unit, SATS, on exchanges instead of the flagship cryptocurrency. He refers to people telling him that BTC at the current price is too expensive. Hence, quoting SATS on exchanges will make it more appealing to the average users.