At press time, the cryptocurrency market cap is back up to $333 billion after briefly falling to $324 billion during yesterday’s afternoon hours. Many digital assets are in the green, with major entities like Bitcoin increasing by roughly $200 and reaching the $7,500 mark – a figure it was previously trading at during Tuesday evening.
Currently ranked #8 by market cap, is up 3.51% over the past 24 hours. XLM has a market cap of $5.47B with a 24 hour volume of $80.6M.
Binance, one of the largest trading platforms in the crypto space, announced a new trading pair on May 31: Stellar Lumens and Tether.
In addition, Stellar has announced registrations for the upcoming Stellar Build Challenge will be opening very soon.
Stellar is up 3.51% over the past 24 hours.
Currently ranked #7 by market cap, is up 3.96% over the past 24 hours. ADA has a market cap of $5.82B with a 24 hour volume of $192.61M.
Cardano released its first smart contracts testnet. The announcement was made by IOHK, the engineering company behind the design and development of Cardano. The testnet is set to play a key role in turning Cardano into a complete ecosystem.
The new testnet is set to accelerate the growth of the Cardano project, as developers will be able to take any application that runs on the Ethereum Virtual Machine and execute it on the KEVM.
Cardano is up 3.96% over the past 24 hours.
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Currently ranked #5 by market cap, is down 1.16% over the past 24 hours. EOS has a market cap of $10.95B with a 24 hour volume of $1.12B.
Block.one – the developer behind EOS – is now on track to raise more than $4 billion through a year-long initial coin offering (ICO) of EOS digital tokens. The EOS crowdsale is the largest and longest ICO to date.
At press time, it’s unclear how Block.one plans to spend the money has raised, though the company mentioned it’s looking at potentially building a platform for hosting web applications. Executives also announced they are considering placing up to $1 billion into startups that are either invested in or building on EOS.
EOS is down 1.16% over the past 24 hours.
Currently ranked #10 by market cap, is down 3.31% over the past 24 hours. TRX has a market cap of $3.93B with a 24 hour volume of $269.85M.
TRON officially announced on May 31 that it has migrated away from Ethereum and onto its own blockchain. TRON CEO Justin Sun announced:
“Fellow Tronix, the time has finally come. May 31 Tron Main Net launched. Today, with confidence, I announce that the development of Tron’s main net Odyssey 2.0 is complete, and all the materials are submitted to GitHub.”
TRON executives have announced they are still searching for various network bugs, and are paying programmers and developers rewards of up to $100,000 to locate respective software glitches.
TRON is down 3.31% over the past 24 hours.
The global cryptocurrency market cap stands at $333.68B with a 24 hour volume of $15.99B. The Coinbase Index is currently sitting at 3561.16. Bitcoin dominance is currently at 38.66%.
The cryptocurrency market may possibly be recovering from the lows seen earlier this week, but it’s impossible to predict where it may head from here. As always, investors are reminded that the market can drop at any point and without warning. Thus, it’s important to always trade cautiously, carefully and responsibly.
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