Market Update 5.13.19 – Binance Planning to Re-Open Withdrawals and Deposits

| Publish date: 05/13/2019
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Binance Planning to Re-Open Withdrawals and Deposits

The Chief Executive Officer of Binance, Changpeng Zhao announced that the cryptocurrency exchange planned to complete resume withdrawals and deposits by Tuesday, May 14. The announcement was made during an update on May 12.

As reported last week, Binance had suspended all withdrawals and deposits while it rehauled its security systems after it was the victim of a hack attack on May 7, which resulted in 7,070 BTC worth about $41 million being stolen from the exchange’s wallet. In his latest update, Zhao did not give details of the actions taken by exchange post the hack. He stated that this information would be revealed after the exchange resumed normal operations.

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Twitch’s Fortnite and Apex Legends Streamers Can Place Crypto Bets

According to latest reports, the e-sports gaming platform Unikrn is introducing a new product that allows users to bet cryptocurrencies on Twitch as well as other gaming sites. Thus, now, fans of Twitch streamers of Fortnite and Apex Legends can now place actual bets on gameplay.

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According to the Chief Executive Officer of Unikrn Rahul Sood, the challenge with operating an esports book is that there are times when there is nothing to bet on. He said that other sports books were successful because they had thousands of events that people could lay bets on.

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Bitfinex CTO May be to Confirming the Raising of $1 Billion

On May 13, Paolo Ardoino, the CTO of major cryptocurrency exchange Bitfinex, seemed to have confirmed that the company had managed to raise $1 billion in a new round of fundraising. The rumors began when a major shareholder of the company announced that $1 billion had been raised via hard as well as soft commitments.

While not confirming the exact amount, Ardoino tweeted on Monday that Bitfinex’s token sale, which had closed on Sunday, May 11, had been sold out. This token sale was for the company’s new native token, LEO and was carried out via an IEO (initial exchange offering). This comes at a time when the exchange is dealing with a scandal related to a $850 funding gap.

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Total Market Cap: May 13

The capitalization of the crypto market is $213.14 billion and volumes of trade are currently at $75.74 billion.

Bitcoin Price Analysis: May 13

At this time, BTC has fallen 2.96%, yet still remains above $7,000 at $7074.73. Capitalization is at 125.20 billion and volumes of trade are at $24.72 billion.

Ethereum Price Analysis: May 13

The price of ETH is down by 2.07% to a current trading price of $188.90. Capitalization for the altcoin stands at $20.03 billion and volumes of trade at $8.97 billion.

State of the Top 10 Cryptocurrencies: May 13

After a massive bull run on Sunday that saw the price of BTC finally cross $7000 after almost a year, the cryptocurrency market is now experiencing a minor correction. Most of the tokens in the top ten listing are down, with the exception of Binance Coin (up 9.18%) and Ripple (up marginally at 0.22%).

  • Bitcoin’s trading at $7074.73, falling 2.96%. The token’s worth in the market is now $125.20 billion.
  • Ethereum’s trading at $188.90, falling 2.07%. The token’s worth in the market is now $20.03 billion.
  • Ripple’s trading at $0.316962, gaining 0.22%. The token’s worth in the market is now $13.35 billion.
  • Bitcoin Cash’s trading at $354.23, falling 1.03%. The token’s worth in the market is now $6.29 billion.
  • Litecoin’s trading at $85.70, falling 3.60%. The token’s worth in the market is now $5.29 billion.
  • EOS’s trading at $5.35, falling 2.50%. The token’s worth in the market is now $4.87 billion.
  • Binance Coin’s trading at $22.87, gaining 9.18%. The token’s worth in the market is now $3.22 billion.
  • Tether’s trading at $0.997445, falling 0.45%. The token’s worth in the market is now $2.77 billion.
  • Stellar’s trading at $0.099615, falling 1.62%. The token’s worth in the market is now $1.91 billion.
  • Cardano’s trading at $0.071891, falling 0.07%. The token’s worth in the market is now $1.86 billion.
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