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The Central European Bank mentions the rapid growth of the cryptocurrency market

May 29, 2019

After a robust rise on Sunday, May 26, most coins are correcting from the highs reached. But there are still no active sales, which indicates the market’s readiness to continue growth. According to CoinMarketCap, the price of BTC was adjusted by only $ 300, or 3.3%, after rising by more than 11%.

There are still 16 coins with a capitalization of more than $ 1 billion. At the same time, the market capitalization continues to increase, reaching $ 268 billion, compared with $255 billion on Monday, May 27.

Cryptocurrency exchanges

The previous year was bad for crypto investors, but this did not prevent large corporations from actively investing in the development of the industry. Last year, Yahoo Japan bought 40% of Tokyo’s BitARG stock exchange. Based on this exchange is planned to launch a cryptocurrency exchange TOATOA. Cointelegraph reports that the launch of TOATOA is scheduled for May 30 of this year.

The retail giant Rakuten, which owns the Viber messenger, has already started registering potential users of its cryptocurrency exchange, the launch of which is scheduled for June this year.

Switcheo developers, in partnership with a startup Obolus launched a trading platform on the EOS blockchain. This information appeared in the blog, which cites the head of the Switcheo Network.

“This launch has allowed us to be one of the first non-custodial exchanges on the EOS blockchain,” said Ivan Poon, CEO of Switcheo, stating that not many decentralized exchanges on EOS allow users to retain ownership of their funds.

At the initial stage, only four coins will be available to traders: CarbonUSD (CUSD), Effect.AI (EFX), Everipedia (IQ) and Metal Packaging Token (MPT).

This news has provided significant support for the EOS coin, which managed to continue its growth at the beginning of this week. According to CoinMarketCap, on Monday, May 27, EOS was trading at $ 6.86, while a maximum of $ 8.00 was updated on Tuesday. The third trading day of the week EOS is held in the “green zone”, but the activity of buyers has decreased significantly.

Bitcoin is better than Ripple

George Harrap, the head of Bitspark, expressed the opinion that Bitcoin is better suited for cross-border payments than the Ripple XRP token specially designed for this purpose. Bitspark researchers have published a report that assesses the suitability of various cryptocurrencies for making international payments.

One of the key reasons for assigning a low score to the XRP token is its low liquidity when exchanging for fiat currencies. BTC and ETH received average points for the same reason, since their popularity is much higher and, as a result, much more counterparties accept them as payment. At the same time Stellar, thanks to the built-in decentralized exchange and the convenience of issuing stable coins, received a higher mark.

Given the data from the report, only further popularization of the XRP token can increase the profitability of its use, while its popularization is possible at lower costs.

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