Daily Update - May 25, 2020 - Bitcoin Slides Below $9000 over the weekend

$BTC 24 Hour High $9,298 $BTC 24 Hour Low $8,853 $BTC -1.58%

Total Cryptocurrency Market Cap down to $248.2 billion(-2.51%) and 24-Hour Volume down to $110.9 billion(-12.26%).

XRP is no longer the world’s third-largest cryptocurrency.The Tether stable coin, which is pegged to the U.S. dollar, has now taken the No. 3 slot.There’s quite a chunky gap between the pair… USDT’s market cap now stands at $8.78 billion, while XRP is at $8.55 billion.

It’s a massive ascension up the rankings for Tether, which had a market cap of $4.1 billion at the start of the year. Since then, almost $5 billion in USDT has entered circulation. In the space of two hours on Thursday morning, its supply rose by a staggering 2.4 billion.

USDT has some catching up to do if it wants to become the second-largest cryptocurrency. ETH currently has a market cap of $22.6 billion.

Noted Hedge Fund Manager Crispin Odey warned in a note posted on Bloomberg Friday the possibility that governments may ban private ownership of Gold in order to get a hand on inflation.

Crypto  Calendar

May 27   - AIBC Summit Manila (Virtual)

Jun 1     - The Mainnet (Virtual)

Jun 3     - World Blockchain Summit Kuala Lumpur (Virtual)

Jun 15   - Crypto Valley Conference 2020 (Virtual)

Jun 15   - World Blockchain Summit Jakarta (Virtual)

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