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George Georgiev



Articles by George Georgiev

Largest Asset Manager BlackRock May Start Trading Bitcoin Futures

22 hours ago

The world’s largest asset manager, BlackRock, may start trading cash-settled Bitcoin futures. This is according to new filings with the US Securities and Exchange Commission (SEC).BlackRock is the world’s largest asset manager, with almost $8 trillion worth of assets under management last year. To put it in perspective – that’s almost 8 times the current capitalization of the entire cryptocurrency market.Now, the Wall Street giant has filed two Prospectus documents with the United States Securities and Exchange Commission (SEC) – on behalf of BlackRock Funds V and BlackRock Global Allocation Fund Inc.The most important bit about these documents is that they suggest the company may engage in trading cash-settled Bitcoin futures contracts.Certain Funds may engage in futures contracts based

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Tether’s General Counsel: iFinex v. NYAG Case Continues with a Court Meeting in 30 Days

1 day ago

The January 15th deadline passed, and, as somewhat expected, the parties in the NYAG v iFinex case are yet to conclude the production and submission of the requested documentation.As reported by CryptoPotato earlier, January 15th was a much-anticipated date regarding the case between the New York Attorney General’s office and iFinex – the parent company of both Tether and Bitfinex.On this date, iFinex had to produce a bulk of documents requested by the office of the NYAG. The latter alleges, in a lawsuit, that Bitfinex lost $850 million and then used funds from its affiliated stablecoin issuer (Tether) to cover the shortfall.Nevertheless, tweeting on the most recent developments was the General Counsel, Stuart Hoegner, for both Bitfinex and Tether, who said that they’ve filed a letter to

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Ethereum Breaks All-Time High Above $1430 Following Weekly Surge Of 30%

2 days ago

The long wait is finally over. Ethereum managed to breach its all-time high and is now officially in price discovery territory. This happens as the cryptocurrency charts weekly gains upwards of 30%.Ethereum Breaks ATHAt this point, it doesn’t seem to be much of a surprise that ETH broke its ATH. After all, its price has been surging consistently in the past few months and especially since the beginning of 2021.Looking at the charts, ETH’s growth is nothing short of impressive. On January 1st, the cryptocurrency opened up with a price of around $740, meaning that it has almost doubled up in value, charting a staggering increase of 93%.ETH/USD. Source: TradingViewOf course, the milestone didn’t come without some serious selloffs and road bumps along the way. On January 10th and 11th, the

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Binance Coin Approaches ATH as 14th BNB Burn to Happen in 48 Hours

4 days ago

The world’s leading cryptocurrency exchange token by means of market capitalization, Binance Coin, is approaching its ATH. This happens hours before the company goes on with its 14th scheduled BNB token burn.BNB Price Eyes ATHBinance Coin is the world’s leading cryptocurrency exchange token. Over the past 12 hours, BNB saw an impressive increase in its dollar value. It went from a low of about $40.9 to a high of $45 for total intraday gains of 10%.Interestingly enough, the coin also came inches away from its all-time high value at $45.162.BNB/USDT. Source: TradingViewIt’s also worth noting that the cryptocurrency has since retraced a bit, and it’s now trading at $44.09.This comes hours before the company goes through its 14th scheduled BNB token burn. It should take place in less than 48

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Bitcoin Faced First Major Correction In Current Bull Run: The Crypto Weekly Market Update

6 days ago

This week was very intensive in the cryptocurrency market. It’s perhaps safe to say that it was among the most tumultuous ones we’ve had in the last few months.Everything started calmly, and during the weekend, the price hit an all-time high value of $42,000. The excitement was short-lived, as immediately after that, bitcoin went in the opposite direction and started to decline. It wasn’t until Monday, however, when things took a turn for the worst.Bitcoin’s price lost around $12,000 in what seems to be the first major correction in the ongoing bull run. The decline of around 27% came in a few brutal four-hour red candles and led to the liquidations of $2.87 billion worth of both long and short positions, indicating once again how over-leveraged the market is.From there, the price took

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Rollercoaster: $340M Long Positions Liquidated as Bitcoin Price Crashed $3000 In Hours

6 days ago

There are no boring days in crypto. That’s panning out to be more accurate than ever over the past couple of weeks. In the past few hours, Bitcoin’s price, as well as that of many altcoins, went on a rollercoaster, yet again, resulting in massive liquidation volumes across the board.Data reveals that over the past hour alone, almost $400 million worth of both long and short positions were liquidated on major exchanges.This happened as bitcoin’s price tanked from a high of about $37,700 down to $34,380, losing a little over $3,000 in the process and recovering to its current trading price of $36,000.Out of this, longs accounted for 86.5%, clocking the number at $343 million. Naturally, the prevailing number of liquidations came from the bitcoin market.Liquidation Data. Source: BybtLeading

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IMF Poll: Digital Currencies Are Real Money

6 days ago

The debate as to Bitcoin and other cryptocurrencies are real money has been going on ever since the nascent assets came into existence. Both sides have their proponents. Nevertheless, according to a recent poll, the overwhelming majority of respondents tend to think that digital currencies are, indeed, money. Digital Currencies Are Real Money: Poll Results ConclusiveIn a recent poll, the International Monetary Fund (IMF), an organization of 190 countries, took it to Twitter to ask whether or not digital currencies are really money. International Monetary Fund Poll. Source: TwitterAlthough there are three hours still left on the clock, the results are more than conclusive. Out of 90,700 voters, 80.3% believe that they are, indeed, money. What is even more interesting, however, are some of

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Tether (USDT) January 15th Deadline on iFinex Case: Everything You Need to Know

7 days ago

Many in the cryptocurrency field have recently discussed the upcoming January 15th date as an important consideration for the ongoing case between the office of the New York Attorney General (NYAG) and iFinex, the parent company of Bitfinex and Tether.With this in mind, below is a comprehensive summary of what happened and what to expect on this date.The NYAG v. iFinex Case: What Happened?Back in April 2019, the office of the New York Attorney General alleged that the popular cryptocurrency exchange Bitfinex lost $850 million and then used funds from its affiliated stablecoin operator Tether (the company that issues USDT) to cover the shortfall.As CryptoPotato reported, later on, Tether issued a statement through a blog post which said that the allegations were written in “bad faith” and

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Ledger Admits: Users Data Leaked Amid The Shopify Incident in April & June 2020

8 days ago

In yet another somewhat disappointing turn of events for Ledger users, the company has just revealed that they’ve discovered that the customer records for 20,000 ‘new’ users has been leaked during an incident with Shopify from back in the summer of 2020.In its most recent update, the cryptocurrency hardware wallet manufacturer Ledger revealed that 20,000 users, aside from 93% of those whose information was exposed in a previous attack, have seen their records leaked.Recently, we shared news of a data dump. On December 23, we were alerted by our e-commerce provider Shopify about an incident in April & June ’20 where their rogue team members exported merchants’ customer databases. Ledger was included. More details: https://t.co/NHU3IbDL0a pic.twitter.com/DHQQ9arxCu— Ledger (@Ledger) January

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4 Possible Reasons for Bitcoin’s $12K Correction After Reaching $42,000 All-Time High

10 days ago

The past couple of days have been very volatile for Bitcoin. Ultimately, though, the volatility played out in favor of the bears.The price lost almost $12,000 of its value and tumbled to an intraday low of around $30,260 on Bitstamp. In fact, the past 6 out 9 four-hour candles are all painted in red. This is a decrease of about 27%.BTC/USD. Source: TradingViewAll of this happened a couple of days after Bitcoin painted a fresh all-time high of around $42,000 on Friday, and it’s worth looking at some of the possible reasons for it.Price Was Going Parabolic Without a Serious CorrectionThis is the first thing that anyone needs to consider when looking at the above chart. As seen there, the only major correction of above 10% happened on January 4th when the price dropped from $33,600 to about

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Correction Time: Bitcoin Plunges $7000 in Hours as $1.3 Billion Liquidated

11 days ago

The past 12 hours have been rather tense on the cryptocurrency market. Bitcoin, as well as other cryptocurrencies, went through a massive correction, resulting in almost $1.3 billion liquidations in 12 hours.This morning, Bitcoin was trading at over $41,000, even though it was seemingly trapped in a range between $39,600 and $41,500 for more than a day without any decisive moves in any direction.However, it all began a little more than 15 hours ago when the price tanked from $41,000 to about $38,900.After that, we saw a few hours of stability, but the bears weren’t done yet. Earlier today, the price tanked from $39,800 down to $37,000 and ultimately dropped to $34,322 before recovering to its current rate of around $38,000.This means that BTC dropped by almost $7,000 or more than

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Elon Musk Doesn’t Mind Getting His Salary in Bitcoin

11 days ago

In a recent Twitter reply, the CEO of Tesla and SpaceX admitted that he wouldn’t turn out getting paid in Bitcoin. His statement came as a reply to Ben Mezrich, the author of Bitcoin Billionaires. Ben Mezrich and Elon Musk on BitcoinA couple of days ago, Ben Mezrich, the author of Bitcoin Billionaires: A True Story of Genius, Betrayal, and Redemption, took it to Twitter to say that he wouldn’t turn down getting paid in bitcoin again.As CryptoPotato reported earlier in 2020, Bitcoin started getting into mainstream media. On one occasion, it was featured in the popular financially-centered Wall Street Drama Billions. In its premiere episode of the fifth season, where one of the main characters debated the merits behind bitcoin with someone who has been arrested for running a Bitcoin mining

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The Week That Bitcoin Surged To $40,000: The Crypto Weekly Market Update

13 days ago

Over the past seven days, Bitcoin gained more than $11,000 to break above the coveted mark of $40,000. Meanwhile, the entire cryptocurrency market cap surged above $1 trillion for the first time in history.The week started off with bitcoin’s price trading around $29,000, but no one was expecting what happened next. Day after day, BTC continued charting new highs until, finally, it broke above the coveted $40,000 mark yesterday. The current all-time high sits at $42,000The move-up was also marked by substantial volatility. For example, just last night, BTC hit $40,000, but in the same hour, it also dropped to $36,000 and recovered to $39,000. This makes it particularly dangerous for people who are overly exposed to overleveraged positions, and the total liquidation data confirms it.

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$1.5 Billion Liquidations in 24 Hours as Bitcoin Price Recovers

13 days ago

The past 24 hours have seen almost $1.5 billion in liquidated positions. This is the total for both long and short trades, as Bitcoin’s price went on a rollercoaster.$1.5 Billion LiquidatedCryptocurrency trading has a certain allure to it. After all, in the past 24 hours, we saw Bitcoin’s price go from $40,000 to $36,000 and back above $41,000. The same is true for many other cryptocurrencies.This rampant volatility creates opportunities for serious gains in a short amount of time. However, what a lot of people fail to realize is that it is much more dangerous.  As highlighted by the most recent data, almost $1.5 billion positions were liquidated. That is to say, the trade didn’t go their way and they lost their margin. The majority of it, as of the time of this writing, comes from long

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Bitcoin Sets New ATH Above $41K After a Massive Correction of $4000 in 24 Hours

13 days ago

To say that the past 24 hours have been exciting would be a massive understatement. Bitcoin, as well as most of the cryptocurrency market, experienced one of the most tumultuous trading sessions after setting a new ATH above $40,000, crashing by $4,000 and surging back to chart a new high at around $41,000.Bitcoin’s price goes up again. It doesn’t seem to have any intentions of slowing down. Dips are being bought at an unprecedented rate as the price continues to appreciate.Just a few moments ago, it painted a fresh all-time high at $41,095 on Bitstamp, which doesn’t seem very surprising as this tends to happen every single day.BTC/USD. Source: TradingViewHowever, the fashion in which id did so definitely deserves a mention.As seen in the above chart, the past hours have been nothing but

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Bitcoin Breaks $40,000: BTC Price Gained 38% In The First Week Of 2021

14 days ago

Bitcoin has broken yet another massive milestone. Just moments ago, the price managed to hit the coveted $40,000 mark for the first time in history.Bitcoin’s price shows absolutely no signs of slowing down from the incredible parabolic move.Moments ago, it managed to hit the significant milestone, breaking the coveted $40,000 mark.This makes for a daily increase of around 14%.BTC/USD, $40K on Bitstamp. Source: TradingViewAs CryptoPotato reported earlier today, a senior Bloomberg strategist, Mike McGlone, said that Bitcoin hitting $50,000 is more likely than it hitting $20,000, giving a seriously bullish outlook for the cryptocurrency.Back in November last year, he also said that the cryptocurrency will reach $20K (which it did, in fact) and that this will only be a stepping stone on the

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Barry Silbert Steps Down as Grayscale CEO

14 days ago

The largest cryptocurrency asset management company, Grayscale, will see a shift in its executive leadership as founder Barry Silbert is prepared to step down to focus on other initiatives of Digital Currency Group.Announced Thursday, Grayscale will see a change in its Chief Executive Officer position.The founder of the company, Barry Silbert, who was acting as its CEO until now, will step down. In his place, the high-ranked executive position will be assumed by Michael Sonnenshein.Sonnenshein is the company’s long-standing managing director and has supposedly played a massive role in attracting new investors and making Grayscale the largest crypto asset manager.Speaking on the matter, he commented on his future plans for the company:I want to make Grayscale synonymous with digital

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Cryptocurrency Market Cap Hits $1 Trillion Milestone: There’s Still Much to Go

15 days ago

The situation in the cryptocurrency market is currently as exciting as it has ever been. Bitcoin is charting new highs daily, altcoins are also starting to see some notable gains, resulting in massive growth for the entire market.For the first time ever, the market did something that not a lot of people believed in back a few years ago – it reached a total capitalization of $1 trillion.The Four Comma ClubIt took some time, but the cryptocurrency market capitalization has finally hit the coveted $1 trillion mark. It’s now a member of the four comma club, though we have to see if this will last.Cryptocurrency Market Cap. Source: CoinGeckoThe move is substantial for the industry which grew astronomically in the past years. Compared to the beginning of 2020, the market cap is up a whopping

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Bitcoin Price Breaks $36,000 As Protesters Storm US Capitol

15 days ago

The last hour saw massive volatility on the cryptocurrency market, which coincided with serious tension and protest in the US Capitol. Ultimately, after a tumultuous hourly candle, Bitcoin managed to break $36,000 and chart a brand new all-time high.Bitcoin’s price saw serious volatility during the last couple of hours. It went on a roller-coaster, dumping to a low of about $34,300 on Binance.Ultimately, the price surged right back and is currently trading above $36,000 to mark a brand new all-time high at around $36,470.BTC/USDT. Source: TradingViewThe majority of the cryptocurrency market followed in the footsteps of BTC. ETH, for example, dropped down to about $1,120 from an hourly high of about $1,214 and then recovered.These moves coincide with serious tension currently ongoing around

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From $2 To $200 And Vice Versa In 20 Hours: Another Typical Day In DeFi

15 days ago

The DeFi space continues to grow. With it, though, there’s no shortage of mimicking projects, plenty of forks, and concepts that are beyond questionable.Apart from the above, we can also see various tokens exploding in price, charting tremendous gains in hours, only to come back crashing hours later. Some of them claim that it’s the way they are designed, though a 100x increase in hours and a 100x decrease in a few more hours can hardly be explained by protocol design.From $2 to $200 to $2 Again in Less Than 20 HoursRebasing tokens are not new anymore. Ampleforth set the tone last year, providing a dynamic supply protocol aiming to achieve equilibrium once the network is used by enough participants.However, in the past few months, we saw a lot of variants with numerous changes to the

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Why Warren Buffett’s Longtime Partner Is Wrong About Bitcoin (Opinion)

16 days ago

Bitcoin’s price has gone on an impressive run in the last few weeks, accelerating at a parabolic rate. Despite the most recent correction, the asset is still trading somewhat solidly above the $30,000 mark, charting an impressive increase of 310% since the same time last year.Yet, Warren Buffett’s longtime partner, Charlie Munger, is still far from being convinced on anything bitcoin. And he’s wrong.Charlie Munger: Investing in Bitcoin Is DementiaWriting for Yahoo Finance, GuruFocus’ John Engle reminded readers earlier this week that Charlie Munger wants you to avoid bitcoin like the plague. Munger is the vice-chairman of Berkshire Hathaway. The longtime friend and business partner of Warren Buffett has an even stronger antipathy toward bitcoin than the Oracle of Omaha himself.The

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Correction Time: $70 Billion Evaporated in 2 Hours As ETH Plunged From $1170 To $900

17 days ago

It’s perhaps safe to say that the past two hours have been some of the craziest on the cryptocurrency market for the past few years.The total cryptocurrency market cap surged to more than $900 billion, only to lose around $70 billion in an instant.ETH Lost Almost $300 In Two HoursThere’s no doubt that the center of attention over the past couple of days is Ethereum. ETH went on a rampage yesterday, claiming major resistance levels on the way up. It managed to surge to a high of $1,173 on Binance.The interesting thing is that this happened less than a few hours ago. Since then, however, things have changed.ETH/USD. Source: TradingViewAs seen in the above chart, the cryptocurrency decreased to a low of around $914 for a total loss of about $270 in two hours. At the time of this writing, ETH

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Ethereum Spikes 20% To Over $900: Altcoin Season Approaching?

18 days ago

The cryptocurrency market is on fire, there’s no doubt of it. Especially today, after ETH went on a rampage and charted two consecutive green hourly candles, gaining upwards of 10%, bringing its total gains for the past twelve hours alone to almost 20%.ETH Conquers $900 with Massive CandlesIt appears that ETH bulls are refusing to sit tight while Bitcoin charts new highs on a daily basis. Today, they made a statement with two massive hourly candles, bringing the price up to a high of $926 (on Binance), for a two-hour positive increase upwards of 10%.Zooming the charts out a bit paints an even better picture as ETH is up almost 20% in the past twelve hours alone, bringing its total weekly gains to just shy of 40%. The price has since retraced a bit to its current trading levels but it’s

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Dogecoin Spikes 120%: If History Repeats, This Might be Very Positive for All Altcoins

19 days ago

If history is any indicator, the recent spike of Dogecoin might be a perfect sign for all remaining altcoins, following the recent spike of the meme coin, which started as a joke as one of the first cryptocurrencies besides Bitcoin.DOGE Surges 120%Despite not being so high up the market cap ladder, DOGE is undoubtedly one of the most popular cryptocurrencies. It is frequently mentioned by one of the most influential businessmen on the planet, Elon Musk. He even jokingly in his Twitter handle that he’s the “Former CEO of Dogecoin.”Former CEO of Dogecoin. Elon Musk’s twitterMeme coin or not, the cryptocurrency has generated some serious profits for its investors in the past few days. Yesterday, it marked a low at around $0.0046, and today it peaked at $0.0115 for a 120% increase in less than

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Ripple Supporters File a Petition for the White House to Declare XRP a Currency

19 days ago

Things are not looking great for Ripple and its XRP cryptocurrency. In a day where the total market cap managed to add a whopping $60 billion as bitcoin charts a staggering 11% increase, XRP is down 5% in the past 24 hours.In what looks like an interesting development, a group of supporters is trying to force the hand of White House on the allegations made by the Securities and Exchange Commission.XRP Supporters File a Petition to the White HouseAn interesting petition titled We the People ask the federal government to deem XRP, the virtual currency, a currency, has surfaced online, collecting signatures from Ripple supporters.Describing the case, the petition argues that the United States Securities and Exchange Commission (SEC) has “filed a frivolous action claiming the cryptocurrency,

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$130 Million Short Positions Liquidated in an Hour as Bitcoin Captures $30K

19 days ago

Bitcoin went through another considerable increase in the past hour, breaking through the major psychological level of $30,000 for the first time in history. The cryptocurrency set a new all-time high as bearish traders are left in despair with millions of liquidations in just an hour.$120 Million Short Positions Liquidated Across the BoardThe last hour saw bearish traders in despair. Over $130 million worth of short positions were liquidated in the last hour alone as BTC broke above $30K.Of course, this doesn’t all come from Bitcoin, but the bulk of it is from it. A total of $128 million in both short and long BTC positions were liquidated, more than 95% of which is for short trades.Bitcoin 1hr Liquidation Data. Source: BybtLeading the way is Binance, which doesn’t really come as a

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Bitcoin Price Breaks $30,000: Another All-Time High Set

19 days ago

Two days after the start of the new year, Bitcoin has taken for the skies, yet again. The cryptocurrency poked above a major level at $30,000.The price for Bitcoin marked another leg up, two days into the new year. Moments ago, it touched a high of $30,665 on the popular EU-based cryptocurrency exchange Bitstamp.The cryptocurrency now trades around $30,460 for a daily increase of about 3%.BTC/USD. Source: TradingViewIn the past seven days alone, bitcoin’s price has increased by more than 20%.Interestingly enough, this is also the 6th consecutive daily candle that BTC is trading in the green.The cryptocurrency is currently in price discovery territory making it hard, or even impossible, to pinpoint subsequent targets.It’s also worth noting that severe volatility is likely to be expected in

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2020 Year In Review: Bitcoin’s Journey From $3800 To Nearly $30K

21 days ago

2020 has been an interesting year. To say anything else would be an understatement. The global COVID-19 pandemic took the entire world by a storm and changed the lives of millions of people.This had a direct impact on all industries and markets. Cryptocurrencies were absolutely no exception. 2020 had its lows for the nascent industry, but it’s perhaps safe to say that the highs were much more. The clearest evidence of this is Bitcoin, as well as the massive growth in the total capitalization.Bitcoin went on a rollercoaster. It started off the year steadily, crashed massively a few months later, and came back stronger than ever to chart highs that we haven’t seen before. The total market cap is almost at the point it was back in 2017’s parabolic run, though this time, things are looking

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Bitcoin Price Surpasses $29,000 To Record A New All-Time High

22 days ago

The cryptocurrency market shows no signs of slowing down today. The total capitalization has added almost $4 billion in the past 24 hours, surging to levels not seen since January 2018. At the time of this writing, the total market cap sits just shy of $760 billion, according to CoinMarketCap.Bitcoin price continues to paint fresh all-time highs on a daily basis. Earlier today, CryptoPotato reported that the cryptocurrency has managed to break out once again and chart a new high at $28,600. However, it appears that there’s undoubtedly room for more.In the past few hours, BTC has gone on yet another leg up, painting a fresh all-time high surpassing $29K – the current ATH is set to $29,010 on Bitstamp.BTC/USD, source: TradingViewWith this, the cryptocurrency has also managed to gain about

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Litecoin Unseats Ripple’s XRP as The Fourth Largest Cryptocurrency

23 days ago

Things are not looking good for Ripple’s XRP. Following the news that the United States Securities and Exchange Commission (SEC) has pressed formal charges against the company, its native cryptocurrency tanked by almost 70%. This has also led to another somewhat unexpected event as Litecoin (LTC) takes the seat of the fourth-largest cryptocurrency by market cap.LTC Now the World’s 4th Largest Crypto by Market CapLitecoin has become the fourth-largest cryptocurrency by means of total market capitalization. This follows a month of positive developments for the coin which is up more than 55% in the past 30 days.LTC surpassing XRP. Source: CoinGeckoOf course, the increase in LTC’s price is far from being the main reason for that. Ripple’s XRP, which occupied this spot until a few moments ago,

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