Market Watch: Bitcoin Rebounds Above $8500, Altcoins Surge

The bulls are back in the crypto market after bitcoin tested $9,000 for a few minutes on May 30. The prices, however, fell sharply to as low as $8,034 a few hours later. At the time of this writing, Bitcoin and the rest of the cryptocurrency market are recording significant gains with BTC trading at $8,576, ETH at $269, and XRP at $0.44

The total market cap is ~$272 billion | Bitcoin’s market cap is ~$152 billion | BTC dominance at 55.8%

Major Crypto Headlines

Chainalysis Says 64% of Ransomware Attackers Launder Proceeds via Crypto Exchanges A new report from Chainalysis, a US-based blockchain intelligence firm, has revealed that more than 60% of ransomware attackers cashed-out via cryptocurrency exchanges.

Binance Breaking Records: Harmony Protocol (ONE) Is Trading At 800% IEO Price Binance has once again hit a new milestone as its latest IEO token, Harmony (ONE) trades at more than 8x compared to its IEO price.

Margin Trading Risks: This Student Lost All His Bitcoins. What Can Be Learnt? A student recently shared a story of how he lost all his bitcoins while margin trading. Here’s what we can learn from his mistakes.

Most Significant Winners and Losers

Mindexcoin (703%)

Mindexcoin (MIC) spiked up above $0.2 as the bulls entered the markets earlier today. MIC, which traded as low as $0.03 at the start of the trading session, is recording more than 700% gains against the US dollar. At the time of this writing, the price of the coin is $0.29 with about $520,062 being traded across all exchanges in the last 24 hours.

Crystal Token (205.07%)

Although Crystal Token (CYL) struggled at the start of the trading session, it is now trading up to 205% against the US dollar on the daily charts. The bulls are keeping the price of the token at the $0.003 marks. At the time of this writing, CYL is trading at $0.003565 with a daily volume of $50,934.

SophiaTX (-27.11%)

SophiaTX (SPHTX) attempted to stay strong with a price of $0.009 at the start of the trading session but failed to keep up. The price of the coin quickly dropped by 27.11% against the US dollar and now trades at $0.0069. SPHTX has a market cap of $2,304,723  and a daily volume of $143,233 across all exchanges.