Markets and news: May 27, 2022

news,

News in brief

  • The British government announced on Thursday a 25% tax on oil and gas companies. In doing so, it bowed to growing pressure from citizens. Other big divident payers such as miners and consumer goods companies could be next.
  • Oil is back in negative territory after early gains. This might suggest that the process of EU countries imposing embargos on Russian oil has been delayed. Earlier reports speak of record oil shipments to China.

Crypto markets

  • Bitcoin tends to outperform altcoins in bear markets and this bear market is no different. With its dominance up by 1% in the last 24 hours, we are touching another high not seen since October last year.
  • ETH transaction fees recently dropped to $2.54 – the lowest since July, historically the ETH price rises after fees drop below $5, which could signal a bullish market.
  • PlatonCoin reached a new milestone in its development this week. On May 27th, PLTC surpassed $1 USD making PlatonCoin jump into the Top 250 coins on Coingecko.com.

Bitcoin (BTC) is now trading at $28,989, down 0.4% in 24 hours

Ethereum (ETH) is now trading at $1,788, down 2.2% in 24 hours

PlatonCoin (PLTC) is now trading at $1.04, up 12.8% in 24 hours

Total market capitalization is now $1.26 trillion, down 1.3% in 24 hours

(all data valid at the time of publishing, from Coingecko.com)

Crypto news

Bitcoin and fall below $29,000: It looks like cryptocurrencies are testing key supports and the weak period is behind them. There are no signs of immediate improvement. Bitcoin looks like it will fall to the psychological level of $28,000, where it looks like it may try to push the price to the May lows near $24,000.

PlatonCoin and ATH: PlatonCoin reached a new milestone in its development this week. On May 27th, PLTC surpassed $1 USD, making PlatonCoin jump into the Top 250 coins on Coingecko.com, in spite of the current downtrend on cryptomarket.

U.S. lawmakers and e-CNY: Lawmakers in the United States introduced a bill on May 25 that aims to restrict the use of China’s central bank digital currency (CBDC) in the United States. The bill proposes to ban the use of China’s digital currency payment system, e-CNY, for US app stores and other purposes.

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