EthereumMax latest price LIVE – Logan Paul and Floyd Mayweather anti-Bitcoin boxing match sees cryptocurrency rise 1900%
ETHEREUMMAX has risen sharply thanks in part to the endorsement of boxing legend Floyd Mayweather during his anticipated fight last night.
An exhibition match between and YouTube star Logan Paul, lasted for eight rounds and ended without an official winner being read.
But former knockout champ Mayweather fought while emblazoned with an EthereumMax (EMAX) logo - after the rising crypto coin was used to purchase tickets online for the showdown.
The newly launched token has risen by a staggering 1900% since May 28 - growing to over 50,000 token holders and over 10,000 telegram members in just over two weeks.
And over the last 24 hours, EMAX traded 1.5% and 4.2% lower against Bitcoin and Ethereum.
Read our Bitcoin live blog below for the latest updates...
ATA NETWORK SAYS IT IS 'IMPOSSIBLE TO PURCHASE RIGHT NOW' DUE TO GROUPS 'IMPERSONATE OUR PROJECT ONLINE'
WHAT ARE THE RISKS OF INVESTING IN ATA?
Investing in any cryptocurrency is a gamble. Because cryptocurrency firms aren’t regulated in the same way other financial companies are, you won’t have any protection if things go wrong - and you could lose all your money.
You may also have trouble converting crypto assets back into cash as it may depend on the demand and supply in the existing market. Brits have also been warned that cryptocurrencies, especially new ones, could potentially be scams.
Cryptocurrencies which reward people who buy and hold onto tokens - and slap penalties onto those who don’t - could be a multi-level marketing scheme, making it a very high risk investment.
Hargreaves Lansdown senior investment and markets analyst Susannah Streeter said investors should only “dabble with money they can afford to lose” because new cryptocurrencies are so volatile.
Commenting on the launch of ATA, she added: “There have also been warnings on social media in recent days that scammers could be attempting to impersonate the network and be selling fake ATA tokens, so traders should proceed with extreme caution.’’
EXPLAINED: WHAT IS NEW CRYPTOCURRENCY ATA
Little is known about ATA, as it's among the newest cryptocurrencies to hit the market.
As it only launched today, there is limited records of how much its worth. It is currently sitting around $1.80 at the time of writing, according to Coinmarketcap.
According to its website, Deli Gong is listed as co-founder of the coin. He worked at blockchain platform Zilliqa before creating Automata Network.
The cryptocurrency launched today after being listed on Binance, which means investors can now trade coins. In total, there are 1billion ATA tokens.
However, Automata Network issued warnings on it’s Twitter page leading up to its launch about scammers attempting to impersonate the scheme. It warned its followers not to fall for scammers trying to sell fake ATA coins.
NORTON 360 TO OFFER CUSTOMERS ETHEREUM MINING ACCESS IN COMING WEEKS
Norton 360 customers will have access to an Ethereum mining feature in the “coming weeks”, the company said.
Cryptocurrency “mining” works by using a computer’s hardware to do complex calculations in exchange for a reward.
It is not clear what the business model for Norton Crypto is, or if Norton will take a cut of earnings.
The company pitched the idea as a safe and easy way to get into mining, an “important part of our customers’ lives”.
In a press release, Norton LifeLock – once called Symantec – said: “For years, many coin miners have had to take risks in their quest for cryptocurrency, disabling their security in order to run coin mining.”
WHY IS THE PRICE OF ETHEREUMMAX GOING UP?
The value of EthereumMax is currently sitting at $0.0000002907, up by 21% over the past 24 hours, according to CoinMarketCap.
A few weeks ago, EthereumMax claimed to be the only cryptocurrency that can be used to buy official tickets for the pay-per-view boxing fight between boxer Floyd Mayweather and YouTube star Logan Paul.
This is set to take place on Sunday, June 6 in Florida.
Myron Jobson, personal finance campaigner of Interactive Investor, told The Sun: “The creators of EthereumMax will hope that the tie up with the star-studded boxing event will help propel the profile of the coin, which is still incredibly new having only launched last month, to new heights.”
BANK OF ENGLAND PUBLISHES NEW PAPER ON CRYPTOCURRENCY -'STABLECOIN INDUSTRY MUST BE REGULATED'
The Bank of England said on Monday that payments with 'stablecoins' - a form of cryptocurrency usually pegged to a traditional currency - should be regulated in the same way as payments handled by banks if they start to become widely used.
The central bank also said it had made no decision yet about whether to issue its own central bank digital currency, or CBDC, a prospect dubbed 'Britcoin' by finance minister Rishi Sunak when he asked the BoE to look into this in April.
"The prospect of stablecoins as a means of payment and the emerging propositions of CBDC have generated a host of issues," BoE Governor Andrew Bailey said. "It is essential that we ask the difficult and pertinent questions when it comes to the future of these new forms of digital money."
Stablecoins are cryptocurrencies designed to have a stable value relative to traditional currencies or to a commodity such as gold, to avoid the volatility that makes bitcoin and other digital tokens impractical for most commerce.
None have gained much traction in day-to-day commerce, but a proposal by Facebook in 2019 to create a digital currency for use on its platforms alarmed financial regulators.
EXPLAINED: CAN YOU NOW USE CRYPTO COIN IN EL SALVADOR?
EL SALVADOR may become the first country to make Bitcoin legal tender, President Nayid Bukele has announced.
It is not yet legal tender in the Central American nation.
About 70 per cent of the country’s population does not have a bank account and works in the informal economy.
GRAPH: WHAT IS THE CURRENT PRICE OF CRYPTO?
These figures are based over the last 24 hour period.
ELON MUSK TARGETED BY ANONYMOUS HACKING GROUP THAT THREATENS TO EXPOSE HIM WHILE BRANDING CEO A ‘NARCISSISTIC RICH DUDE’
ELON Musk appears to have been targeted by Anonymous as the hacking group released a menacing video threatening to expose the Tesla CEO
The group of hackers who use the V for Vendetta mask as their logo reportedly targeted Musk claiming that the power he has over the cryptocurrency markets has gone far enough, .
They warned the Tesla CEO saying “you may think you are the smartest person in the room, but now you have met your match. We are Anonymous! We are legion. Expect us.”
Anonymous was responsible for some of the world’s largest cyber attacks. The group is understood to have carried out some of the largest digital breaches that impacted PayPal and the Church of Scientology, among others.
“For the past several years you have enjoyed one of the most favorable reputations of anyone in the billionaire class because you have tapped into the desire that many of us have to live in a world with electric cars and space exploration,” the group said in the video.
“But recently your carefully created public image is being exposed and people are beginning to see you as nothing more than another narcissistic rich dude who is desperate for attention,” they added, .
ELON MUSK SENDS BITCOIN, DOGECOIN AND ETHERIUM VALUES PLUNGING WITH LINKIN PARK MEME TWEET ABOUT ‘THE END’
ELON Musk sent Bitcoin’s value into free fall after he posted a meme about Linkin Park with the hashtag #Bitcoin and a broken heart emoji.
The CEO of SpaceX and Tesla tweeted a meme of a split couple discussing lyrics from Linkin Park’s hit In the End suggesting a breakup – like the billionaire’s relationship with Bitcoin.
“Her: I know I said it would be over between us if you quoted another Linkin Park song but I’ve found someone else,” the meme . “Him: So in the end it didn’t even matter?”
Accompanying the meme, which showed a man and a woman distantly sitting next to each other on a couch, was the hashtag #Bitcoin and a broken heart emoji.
The billionaire’s tweeting caused Bitcoin’s value to decrease by six percent, while other cryptocurrencies like Ethereum (by seven percent) and Dogecoin (by eight percent) also nosedived.
WATCH: ELON MUSK TARGETED BY HACK GROUP ANONYMOUS
Elon Musk targeted by hack group Anonymous and is blasted as a 'narcissistic rich dude' in chilling vidEL SALVADOR PRESIDENT CONFIRMS HE WILL SEND PROPOSED BILL TO CONGRESS NEXT WEEK
El Salvador's President Nayib Bukele said on Saturday that he will send to Congress a bill next week to make bitcoin legal tender in the country.
"In the short term this will generate jobs and help provide financial inclusion to thousands outside the formal economy," Bukele said in a video presented at the bitcoin 2021 conference in Miami.
NORTON 360 TO OFFER CUSTOMERS ETHEREUM MINING ACCESS IN COMING WEEKS
Norton 360 customers will have access to an Ethereum mining feature in the “coming weeks”, the company said.
Cryptocurrency “mining” works by using a computer’s hardware to do complex calculations in exchange for a reward.
It is not clear what the business model for Norton Crypto is, or if Norton will take a cut of earnings.
The company pitched the idea as a safe and easy way to get into mining, an “important part of our customers’ lives”.
In a press release, Norton LifeLock – once called Symantec – said: “For years, many coin miners have had to take risks in their quest for cryptocurrency, disabling their security in order to run coin mining.”
WHAT ARE THE RISKS OF INVESTING IN CRYPTOCURRENCY?
The Financial Conduct Authority (FCA) has warned people about the risks of investing in cryptocurrencies.
- Consumer protection: Some investments advertising high returns based on cryptoassets may not be subject to regulation beyond anti-money laundering requirements.
- Price volatility: Significant price volatility in cryptoassets, combined with the inherent difficulties of valuing cryptoassets reliably, places consumers at a high risk of losses.
- Product complexity: The complexity of some products and services relating to cryptoassets can make it hard for consumers to understand the risks. There is no guarantee that cryptoassets can be converted back into cash. Converting a cryptoasset back to cash depends on demand and supply existing in the market.
- Charges and fees: Consumers should consider the impact of fees and charges on their investment which may be more than those for regulated investment products.
- Marketing materials: Firms may overstate the returns of products or understate the risks involved.
WHAT HAS EL SALVADOR'S PRESIDENT NAYIB BUKELE SAID?
El Salvador President Nayib Bukele told a Bitcoin conference in Miami that he will ask the country's congress to back legislation that would make the cryptocurrency legal tender in the Central American nation.
The leader, 39, said: "Next week I will send to Congress a bill that will make Bitcoin a legal tender in El Salvador."
Bukele said that Bitcoin represented "the fastest growing way to transfer" billions of dollars in remittances and to prevent millions from being lost to intermediaries.
"Thanks to the use of Bitcoin, the amount received by more than a million low-income families increases by several billion dollars every year.
"This improves life and the future of millions of people," he added. Bitcoin could improve financial inclusion, Bukele said.
EXPLAINED: CAN YOU USE BITCOIN IN EL SALVADOR?
The US dollar is El Salvador's official currency. But, people are already using Bitcoin.
Surfers' paradise El Zonte - a 3,000-strong village in El Salvador - has a economy.
explains that "an anonymous donor with a fondness for El Zonte discovered a forgotten thumb drive loaded with Bitcoin". In 2019, this beach-loving philanthropist decided to allocate a multi-year six-figure donation to El Zonte.
Dubbed the 'Bitcoin Beach initiative', a localized Bitcoin economy was created in El Zonte, with most businesses now accepting Bitcoin in daily transactions.
About 500 locals use the cryptocurrency to buy everything from haircuts, cleaning and hygiene products, to food, surf lessons, and even water service.
EXPLAINED: CAN YOU USE BITCOIN IN EL SALVADOR?
The US dollar is El Salvador's official currency. But, people are already using Bitcoin.
Surfers' paradise El Zonte - a 3,000-strong village in El Salvador - has a economy.
explains that "an anonymous donor with a fondness for El Zonte discovered a forgotten thumb drive loaded with Bitcoin".
In 2019, this beach-loving philanthropist decided to allocate a multi-year six-figure donation to El Zonte.
Dubbed the 'Bitcoin Beach initiative', a localized Bitcoin economy was created in El Zonte, with most businesses now accepting Bitcoin in daily transactions. About 500 locals use the cryptocurrency to buy everything from haircuts, cleaning and hygiene products, to food, surf lessons, and even water service.
EXPLAINED: CAN YOU USE CRYPTO COIN IN EL SALVADOR?
EL SALVADOR may become the first country to make Bitcoin legal tender, President Nayid Bukele has announced.
About 70 per cent of the Central American country's population does not have a bank account and works in the informal economy.
‘TO THE MOON!’: DOGECOIN FAN STORMS STAGE DURING BITCOIN CONFERENCE 2021 IN MIAMI
The world’s largest ever bitcoin conference was just interrupted by a rather enthusiastic member of the self-proclaimed Doge Army.
Bitcoin 2021 in Miami saw a stage intruder rip off a layer of clothing and shout “Dogecoin to the Moon!”
WHAT IS BITCOIN?
Bitcoin got you baffled? Here's what you need to know:
- Bitcoin is a virtual currency
- It's traded between people without the help of a bank
- Every transaction is recorded in a public ledger, or "blockchain"
- Bitcoin is created by 'mining'
- Mining involves solving difficult maths problems using computer processors
- Bitcoin can be traded anonymously, which can make it a popular way of funding illegal activities
- The value of Bitcoin fluctuates wildly
- Bitcoin is one of many different cryptocurrencies, but by far the most popula
MORE ON EL SALVADOR ADOPTING BITCOIN
According to Bukele, bitcoin represented “the fastest growing way to transfer” those billions of dollars in remittances and to prevent millions from being lost to intermediaries.
“Thanks to the use of bitcoin, the amount received by more than a million low-income families increases by several billion dollars every year,” said the president.
“This improves life and the future of millions of people.”
The cryptocurrency market grew to more than $2.5 trillion in mid-May 2020, according to the Coinmarketcap page, driven by interest from increasingly serious investors from Wall Street to Silicon Valley.
But the volatility of bitcoin — currently priced at $36,127 — and its murky legal status has raised questions about whether it could ever replace fiat currency in day-to-day transactions.
ELON MUSK SENDS BITCOIN, DOGECOIN AND ETHERIUM VALUES PLUNGING WITH LINKIN PARK MEME TWEET ABOUT ‘THE END’
ELON Musk sent Bitcoin’s value into free fall after he posted a meme about Linkin Park with the hashtag #Bitcoin and a broken heart emoji.
The CEO of SpaceX and Tesla tweeted a meme of a split couple discussing lyrics from Linkin Park’s hit In the End suggesting a breakup – like the billionaire’s relationship with Bitcoin.
“Her: I know I said it would be over between us if you quoted another Linkin Park song but I’ve found someone else,” the meme . “Him: So in the end it didn’t even matter?”
Accompanying the meme, which showed a man and a woman distantly sitting next to each other on a couch, was the hashtag #Bitcoin and a broken heart emoji.
The billionaire’s tweeting caused Bitcoin’s value to decrease by six percent, while other cryptocurrencies like Ethereum (by seven percent) and Dogecoin (by eight percent) also nosedived.
CAN YOU USE BITCOIN IN EL SALVADOR?
The US dollar is El Salvador's official currency.
But, people are already using Bitcoin.
Surfers' paradise El Zonte - a 3,000-strong village in El Salvador - has a economy.
explains that "an anonymous donor with a fondness for El Zonte discovered a forgotten thumb drive loaded with Bitcoin".
In 2019, this beach-loving philanthropist decided to allocate a multi-year six-figure donation to El Zonte.
Dubbed the 'Bitcoin Beach initiative', a localized Bitcoin economy was created in El Zonte, with most businesses now accepting Bitcoin in daily transactions.
About 500 locals use the cryptocurrency to buy everything from haircuts, cleaning and hygiene products, to food, surf lessons, and even water service.
EXPLAINED: WHAT IS CHAINLINK?
Chainlink is a cryptocurrency that was created in 2014 but launched on the market in 2017.
It was founded by Sergey Nazarov, a 32-year-old entrepreneur, who had previously set up tech platform Smartcontract.com. Chainlink is also a ledger technology – using “blockchain”, like Bitcoin – that companies are using to build new programmes.
A blockchain is where encrypted data can be transferred securely, making it nearly impossible to duplicate or counterfeit. This ledger is the foundation of any cryptocurrency transaction.
The cryptocurrency allows people to trade currency or assets digitally outside of any government or bank.
But Chainlink also aims create a “link” between blockchain and real world applications to open up possibilities for the technology to be used more widely.
MAYWEATHER 'PRIDE DENTED' AFTER CRYPTO-SPONSORED BOXING MATCH
Johnny Nelson said Floyd Mayweather had a 'reality check' and his 'pride dented' against Logan Paul and will NOT fight the brother Jake.
Mayweather failed to knock out YouTuber Logan after eight exhibition rounds in Miami.
Nelson said it is a sign the boxing legend should hang up the gloves for good having been unable to stop his much larger yet inexperienced opponent.
And he reckons Mayweather will avoid a fight with Logan's younger brother Jake, who is 3-0 all by knockout in his own career.
Nelson, 54, said on Sky Box Office: "I don't think Floyd would.
"I think he's had a reality check today, saying, 'You know what, I've rinsed this as much as I can'
"I think probably his pride's been dented a little bit by not getting rid of him."
