What Changed in Crypto Markets While You Were Sleeping — May 28

2021-5-28 11:40

BeInCrypto presents our daily morning roundup of crypto news and market changes that you might have missed while you were asleep.

Bitcoin update

BTC has been increasing since May 19, when it reached a low of $30,000. It managed to reach a local high of $40,841 on May 26. However, it has been falling since.

Despite the drop, technical indicators are turning bullish. The MACD has given a bullish reversal signal and created four successive higher momentum bars. The RSI is increasing, looking to make its second higher low. Finally, the Stochastic oscillator is showing signs of moving upwards. 

BTC Chart By TradingView Altcoin movers

The crypto markets are struggling this morning. The total market cap has dipped another 5% back to $1.6 trillion after reaching a local high of $1.77 trillion on May 26.

Every cryptocurrency in the top-50 is in the red today except for THETA, which is trading up 9% on the day. However, Helium (HNT) is the biggest altcoin gainer of the day so far. HNT is up by 15% and is currently trading for $17.18.

Yesterday’s biggest altcoin gainer, Enjin Coin (ENJ), is today’s biggest loser. ENJ is down by more than 18% on the day and back to trading at $1.55. This isn’t too bad, however, when considering ENJ is still up by over 67% since its weekly open at $0.93.

In other crypto news Asset manager WisdomTree has filed for an Ethereum (ETH) exchange-traded fund (ETF) with the Securities and Exchange Commission (SEC). Input Output Hong Kong has launched the testnet for the Cardano Alonzo smart contracts platform and revealed its rollout plan. The largest decentralized finance (DeFi) protocol, MakerDAO, has revealed its scaling strategies for moving forwards in a multi-chain environment.

The post What Changed in Crypto Markets While You Were Sleeping — May 28 appeared first on BeInCrypto.

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