Bitcoin Flies Past $5,600, CoinMarketCap Demands Real Trading Data And Stellar Active Accounts Strongly Underestimated — The Crypto2Cash Chronicle
The most important and interesting crypto news, coming to you straight from the Crypto2Cash Office.
Bitcoin Flies Past $5,600
Bitcoin has seen a steady price increase throughout the whole day. The coin is up 4.5% in the last 24 hours and is currently trading at $5,681. The coin shot through the 50 week moving average, which lies at $5,414 and is now eyeing at the June 2018 bottom at $5,780. Most top 20 coins are in the green as well, with Binance Coin being the top performer, up almost 7 percent on the day.
CoinMarketCap Demands Real Trading Data
On May 1st, CoinMarketCap, number one data provider on cryptocurrencies, celebrated it’s 6th birthday. In a blogpost celebrating this occasion, the team also gave some details on how they will change monitoring for exchanges. The changes were made in reaction to several reports, which claimed that almost 95 percent of exchanges fake their volumes. In a first step, it will be mandatory for exchanges to report their order book until June 14, otherwise they will be delisted. After that, they will be required to supply cold storage and historical data. The last step will be API’s that automatically supply data to CoinMarketCap. Almost all top exchanges have already agreed to these changes, which are expected to bring more clarity into the space by supplying users with reliable data.
Stellar Active Accounts Strongly Underestimated
According to OrbitLens, creator of blockchain explorer and analytics platform StellarExpert, the amount of active Stellar wallets are strongly underestimated by many data platforms. On sites like CoinMetrics Stellar only counts 7,500 active accounts, because only wallets that transact are counted. However there are many more actions that can be executed on the network such as such as updating settings, submitting orders, or executing path payments. If these wallets are counted as well, active wallets suddenly sit at 58,000, meaning that Stellar would be third place in daily activity.
Get to know our team
Give us a call on +31 85 2250 510 or email us at support@crypto2cash.com. Our members of staff are available between 9.00–18.00 CET to answer any questions you may have, especially in regards to easily selling your crypto for fiat currencies.
