Crypto Market Soars Propelled By Positive News

Most cryptocurrencies moved up over the last 24 hours, ending the downtrend started last summer at the $14,000 peak.

The green was the dominant color for almost all cryptocurrencies listed on CoinMarketCap platform. Although some crypto assets declined, some remind us of the robust gains they recorded in late 2017.

Bitcoin SV (BSV) took the lead on positive news that Craig Wright, who is claimed to be Nakamoto, told the court that he has received keys to access a crypto fortune worth $8.9 billion dubbed as “Tulip Trust”.

BSV outperformed its rival Bitcoin Cash (BCH). Moreover, other crypto assets such as Ethereum (ETH), Tron (TRX) and Zcash (ZEC) have witnessed double digit gains.

Meanwhile, the Bitcoin rose 6.54% over the previous 24 hours, with its market capitalization reaching $155 billion, or 68.1% of the total market cap.  

Coinbase, one of the most popular crypto exchanges on the planet, has been under pressure over the last 24 hours, which led users to suffer from service outage.  

In May 2017, the same incident took place due to huge demand for buying or selling.

Arthur van Pelt, co-founder of Dragon Industries, said, “Wright appears to confirm that he has received the final part of a private key from the so-called Tulip Trust.”

“The key is said to be able to unlock more than one million bitcoins (BTC) that were allegedly mined during the early days of the original cryptocurrency,” he added.

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Rabea Maguid 551 Articles
Rabea Maguid is a journalist completely obsessed with crypto industry. He holds B.A. from Al-Azhar University, and has a background in journalism and economics. Rabea Maguid likes to think about the future in a positive way, and sees blockchain as a potential driver of deep societal change.