Daily Cryptocurrency Tracker 5.6.19: Market slump continues

The cryptocurrency market remained on its negative trajectory over the past 24 hours, as 8 of the top 10 cryptos registered losses. At the time of writing, Bitcoin was down around 1.5%, holding above the $7,800 mark.

Highly volatile investment product. This is not investment advice. Your capital is at risk.

EOS continues to fall

While the majority of cryptocurrencies registered losses, once again it was EOS that registered the largest losses of all top 10 cryptos. After falling 11% in the previous session, EOS, currently ranked 6h overall by market cap, fell an additional 5% over the past 24 hours, bringing its total weekly losses to nearly 20%.

Highly volatile investment product. This is not investment advice. Your capital is at risk.

Binance testing stablecoin

The world’s largest cryptocurrency exchange, Binance, is currently testing its own stablecoin, which is pegged to the British Pound. Earlier rumors were recently confirmed by CEO Changpeng Zhao, who tweeted that the company is testing the coin, dubbed BGBP, “slowly, but surely,” and said that only 200 GBP worth of the coin were minted so far. Stablecoins are perceived by many as the leading way to introduce cryptocurrencies into mainstream markets, as their value is determined by real-world fiat currencies.

eToro is a multi-asset platform which offers both investing in stocks and cryptocurrencies, as well as trading CFD assets.

Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

Cryptocurrencies can fluctuate widely in price and are, therefore, not appropriate for all investors. Trading cryptocurrencies is not supervised by any EU regulatory framework. Past performance is not an indication of future results. This is not investment advice. Your capital is at risk

The post Daily Cryptocurrency Tracker 5.6.19: Market slump continues appeared first on eToro.

Share