Weekly Crypto Market Update – 30th May


Welcome to this week’s Crypto market update on The Daily Chain. We are collaborating with NKB Group – a full-service investment bank focused on blockchain technology. These updates will include the top news stories of the week, charts, data and more.


Last week, we saw a solid rise in bitcoin price towards yearly highs against the US Dollar. BTC price topped near the $8,950 level and recently corrected lower to $8,450. Last week was also very positive for altcoins, LTC(+22.5%) and EOS (+24%), however this morning we experienced a correction in the charts as losses begin to accelerate during Asian trading today. This has knocked $7 billion off the total crypto market capitalization as it slides back towards $265 billion. The top-10 major digital assets are all down by 1-6% except XRP (+1%) in the last 24h, over the past week, however, markets are still up by almost 7%.

Top News Stories of the Week


Institutional & Retail Investors Mark Record Volumes on Derivatives

Bitcoin derivatives are working out to become crypto’s “new thing” for 2019, as trading on CME, the only regulated futures venue as of now, has hit an all-time-high two months running. BitMEX is also enjoying much of the same due to recent volatility, while Deribit options may have found a more institution-based audience.

Stablecoins Hit All-time High with over $4 Billion

Stablecoins have hit an all-time high with over $4Bn tokens representing the Greenback now on the blockchain. While Tether dominance remains, new stablecoins that have come into the market recently have gained significant momentum. And trading volumes have already beaten that of last year’s record in less than 5 months, with 2019 set to dwarf the now infamous bear market in comparison.

AT&T Now Accepts Crypto for Payments

AT&T* will now accept online bill payments through BitPay, a respected cryptocurrency payment processor. AT&T becomes the first major U.S. mobile carrier to provide a cryptocurrency payment option to customers.

Telegram to Launch TON Network in Q3 2019

Encrypted messaging service Telegram will purportedly launch its Telegram Open Network (TON) in the third quarter of 2019, after raising $1.7bn in 2018.

Facebook Plans to Launch GlobalCoin in 2020

The social media giant wants to start testing its cryptocurrency, referred to internally as GlobalCoin, by the end of this year. The social networking site, which owns WhatsApp and Instagram, is hoping to disrupt existing networks by breaking down financial barriers, competing with banks and reducing consumer costs.

Coinstar Expands Bitcoin Buying Service to 21 States

Supermarket kiosk network Coinstar has further expanded its bitcoin-buying service, adding around 100 new outlets and growing U.S. coverage to 21 states and the District of Columbia. Individuals can buy bitcoin with cash at over 2,200 locations.

Yahoo Japan-Backed Crypto Exchange Taotao Launches This Week

A new crypto exchange platform of which Yahoo Japan owns a major stake, is about to launch after over a year in development. The exchange will be offering a mobile app alongside its online platform, and will offer trading in bitcoin (BTC) and ether (ETH) at launch.

JPMorgan Adds New Privacy Features to Quorum

JPMorgan has built an extension to the Zether protocol, a fully decentralized, cryptographic protocol for confidential payments, compatible with ethereum and other smart contract platforms and designed to add a further layer of anonymity to transactions.

About NKB

NKB operates as a full-service investment bank focused on blockchain technology. They are a one-stop solution for clients – opening the new world of crypto assets and delivering it via the best practices of traditional finance.

NKB pride themselves on providing high quality investment research comment and analysis in the crypto space.  Their research is authorized and regulated by the FCA in the UK and led by professionals with several decades of investment research experience. Their technological capability in the crypto space is complemented by team members with experience from leading tech companies and deep understanding of the underlying technology.
Find out more about NKB here and follow on social media:


The Daily Chain – Inform. Educate. Succeed.

NKB Group

HASHR8 Podcast – Marsmensch

Previous article

Nugget’s News: Best Gaming Projects In Crypto – Arclegger of RedFox Labs

Next article


Leave a reply

You may also like

More in News