30 Second Cryptocurrency Price Summary
Current Bitcoin Price: $50,039
Bitcoin price has seen a large drop today, following Elon Musk’s Tesla announcement. Price dropped well below the $50,000, recovering the level shortly thereafter.
Top-20 altcoins have also suffered, with Ethereum falling 11%, XRP dropping 10% and EOS tumbling 21%.
Top Stories for May 13, 2021
Tesla is abruptly suspending Bitcoin payments for its cars, according to a Tweet from Founder and CEO Elon Musk today.
Musk’s statement added that the company will not be selling any of its Bitcoin reserve holdings, however, and that they intend to use it for transactions eventually.
He also claimed that Tesla are exploring other cryptocurrencies which consume less than 1% of the energy Bitcoin uses.
Ethereum founder Vitalik Buterin has sold more than $1 billion worth of dog-themed tokens sent to his address, donating all of the proceeds to charity.
Coins dumped on the market by Buterin included SHIB, AKITA and ELON, with drops of 40-90% across the affected tokens. Donations of the proceeds went to Gitcoin, Give Well and the India Covid relief fund.
The wider crypto market saw $2 billion in liquidated long positions today, triggered by a Bitcoin plunge to below the $50,000 mark.
Prices touched as low as $46,000 on some exchanges, with other top-ten cryptocurrencies falling by up to 17%.
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Source: Tesla Suspends Bitcoin Payments Citing Environmental Concerns – May 13