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Crypto Market Wrap: Epic 10% Surge Adds $25 Billion to Crypto Assets

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Crypto markets surging this Monday; Bitcoin, BCH, Litecoin and BSV dominating, Tron, EOS and Monero close behind. Market WrapMonday morning is bringing renewed jubilation to crypto traders and investors as markets surge once again. Bitcoin is in the driving seat with a massive spike sending it to 12 month highs and total market capitalization has also reached a new 2019 and ten month peak.After lulling around the $7,950 level for most of last week Bitcoin took off again a few hours ago. A dump down to $7,500 on Thursday did not last long as the king of crypto rapidly recovered back to resistance at $8k. From there it powered up to just above $8,900 in a 12 percent pump. Currently trading at just above $8,700, BTC is on a roll right now and analysts are predicting a move to the mid $9,000s.Ethereum enjoyed the run adding 7 percent itself to reach $270 before dropping back slightly. Daily ETH volume is back over $10 billion which could send the second largest crypto asset in the world up to $300 in no time.The top ten is a wall of green as altcoins make big gains today. Leading the pack is Litecoin adding to its weekend rally and pumping a further 11 percent to reach $114, its highest price since June 2018. Bitcoin Cash and EOS are also going strong with over 9 percent each to reach $439 and $6.92 respectively. XRP, Stellar and Cardano have made around 7 percent each.In the top twenty Bitcoin SV is ahead with a huge move of 18 percent taking it to $108. Tron has had another mystery shill from Justin Sun which has caused a 14 percent surge.Something huge and amazing going about #TRON and #BitTorrent. I will share with you after June 1. I think I have 70% to win and nail it. Fingers crossed! $TRX $BTT— Justin Sun (@justinsuntron) May 26, 2019 Monero and Tezos have added 8 percent while Dash, Ethereum Classic and NEM are up over 7 percent.FOMO: Maximine Coin Spikes AgainThe fomo is pretty much everywhere today but MXM is getting more than most with a 40 percent pump. There doesn’t appear to be anything fundamental driving this altcoin at the moment. Sun’s tweet has also driven BitTorrent token which is cranking 32 percent at the moment. Dent is the third best performer in the top one hundred at the time of writing with a 24 percent gain.When markets are on fire it is harder to find big dumps but as usual Aurora does not disappoint getting smashed by 30 percent today. The Binance pumped Theta Fuel is also dumping today as it loses 16 percent.Total crypto market capitalization has jumped by a whopping $25 billion, or 10 percent, from low to high over the past 24 hours. It is currently just below $270 billion which is the highest amount of money invested in digital assets for ten months. Daily volume has cranked 50 percent to reach $90 billion again and Bitcoin’s dominance is back over 57 percent as it commands the markets today.Market Wrap is a section that takes a daily look at the top cryptocurrencies during the current trading session and analyses the best-performing ones, looking for trends and possible fundamentals.

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NYSE files a trademark application for trading NFTs

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The world’s largest stock exchange may be planning to bring business into the Metaverse.

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Traders say $4,000 Ethereum back on the cards ‘if’ this bullish chart pattern plays out

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Global tensions that could trigger a correction in markets abound, but traders say ETH’s current setup could result in a swift return to the $4,000 level.

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CryptoPunks community reacts to the ongoing copyright battle between V1 and V2

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Although the collection is no longer deemed authentic by Larva Labs, its creators alleged sold 210 ETH worth of CryptoPunks V1 when the wrapped versions first gained traction.

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Binance.US is under investigation from SEC over trading affiliates: Report

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Binance CEO Changpeng Zhao allegedly has connections to two market makers buying and selling crypto on Binance.US.

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Boost Insurance unveils product covering against crypto theft from qualified custodians

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Boost Insurance, an insurance infrastructure-as-a-service platform, alongside go-to-market partner, Breach Insurance, a company that provides insurance technology and regulated insurance products for the cryptocurrency market, today announced the launch of Crypto Shield, an insurance product for cryptocurrency available to retail wallet holders.

Crypto Shield covers the theft of cryptocurrency while in the custody of a qualified custodian.

The Crypto Shield product allows individuals to purchase protection for their crypto wallets held by select custodians. In the case that the custodian is breached or suffers a social engineering attack resulting in lost assets, individuals insured under Crypto Shield can be reimbursed for the value of their policy.

Boost + Breach

While there is some commercial insurance available to cryptocurrency institutions, Breach envisioned Crypto Shield as a solution to the protection gap that currently exists for individuals holding crypto, securing a partnership with Boost to assist in bringing the Crypto Shield product to life.

Boost’s insurance infrastructure-as-a-service packages the necessary operational, technological, compliance, and capital requirements for new insurance programs into a white-label solution, enabling insurtechs like Breach to swiftly launch new lines of business.

“Boost’s deep expertise and insurance infrastructure-as-a-service platform, and Relm’s industry-leading crypto reinsurance capabilities, have positioned Breach to bring a highly complex insurance product to the market in a beautifully delivered customer experience.”
– Eyhab Aejaz, Co-Founder & CEO at Breach

To deliver that product in a seamless experience, Boost and Breach’s platforms connect via API, allowing Boost’s policy administration system to deliver back-end management for the Crypto Shield product. Breach’s customers are then able to purchase and manage every part of their policy and claims process, all from within Breach’s proprietary crypto insurance platform.

“With Boost’s infrastructure-as-a-service platform, companies like Breach can launch and deliver innovative new insurance offerings, at a fraction of the time and cost required to build a full-stack insurance program from scratch.”
– Alex Maffeo, CEO & Founder of Boost

In addition to powering the new product, Boost and Breach partnered to source and secure the necessary reinsurance backing from industry expert Relm Insurance Ltd. (Relm), underwritten by Trisura Specialty Insurance Company. Operating out of Bermuda, Relm is a capacity provider to the crypto sector with a track record of insuring companies across the ecosystem. Relm has recently been awarded an ‘A Exceptional’ Financial Stability Rating (FSR) by Demotech.

“Relm’s partnership with Boost and Breach to reinsure the US’s first cryptocurrency insurance product for retail wallet holders is a milestone in supporting the development of crypto and blockchain technologies.”
– Joe Ziolkowski, CEO at Relm

The post Boost Insurance unveils product covering against crypto theft from qualified custodians appeared first on CryptoNinjas.

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