Did the era of the Dogecoin, the most famous cryptocurrency, come to its end, or it is just a calm before the storm? Let’s find out!
Crypto assets demonstrate mixed performance
On Friday, key crypto assets showed mixed performance in Asia, with mild movements because the trading week drew to its end.
Eventually, the number one digital coin, Bitcoin shot up by about 0.31% demonstrating the settlement of $3,885.5. As for Ethereum, it surged by 0.64% hitting $133.26. Besides this, Litecoin rallied by approximately 0.87% reaching $56.401. XRP went down by about 0.81% showing $0.31165.
The Chairman of US Securities and Exchanges Commission, Jay Clayton attracted attention on Friday, as he discussed a Bitcoin Exchange-Traded Fund with FOX Business. Clayton added investor protection is his primary concern. He doesn’t want crypto trading to be manipulated anyhow. Instead, from his point of view, crypto trading needs to be carried out according to sound rules, as it gives a feeling of comfort and security.
However, Clayton told nothing about any specific Bitcoin ETF application. By the way, soon the SEC is going to review the application for Bitcoin ETF offered by SolidX and VanEck.
In addition to this, Gatecoin, Hong Kong-based crypto exchange got a court order to wind-up and instantly stop operations. In fact, the crypto exchange didn’t manage to retrieve money lost in a dispute with an ex-payment services provider. As a result, it’s bound to face liquidation.
As follows from Thursday’s statement, Gatecoin drew attention to issues with banking services in September last year because as its Hong Kong bank accounts were frozen.
Gatecoin tried to had its creditors assured by telling that assets are going to be redistributed. The the crypto exchange became a victim of a major hack in 2016, with about $2 million worth of various digital coins lost, approximately 15% of its total digital coins.
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The US Bureau of Economic Analysis will publish Core Personal Consumption Expenditures (PCE) on May 27 at 15:30 GMT+3.
The United States will publish the Preliminary GDP on Thursday, May 26, at 15:30 GMT+3.
The Reserve Bank of New Zealand will publish a monetary policy report and make an update on the interest rate on May 25, at 05:00 GMT+3.