Bitcoin has again declined to the $35,000 support area. Ethereum fell to the level of $2300, and the price of XRP reached 88 cents. The total capitalization of the digital currency market decreased to $1.53 trillion.
The first test network of Alonzo is launched in the Cardano blockchain. This is the next step towards the deployment of smart contracts on the network, which is scheduled for September this year. According to the Cardano developers, the test network has been successfully launched and will initially be available to a limited number of staking pool operators, as well as several partners. Blockchain developers have made significant progress towards the launch of Plutus smart contracts, which will enable the deployment of a wide range of decentralized financial applications. This event will be preceded by several intermediate development phases. After a few small steps, Cardano will be getting closer to the final deployment of the hard fork. Earlier this month, it was reported that Cardano is preparing to test the migration of ERC-20 tokens to its blockchain. According to the previous plan to deploy the Alonzo hard fork on the Cardano blockchain, the update was supposed to be activated in August. Currently, the ADA token ranks fourth in the overall ranking of cryptocurrencies with a capitalization of about $50 billion.
Lars Rode, the governor of the Danish Central Bank, does not yet see a threat to state monetary policy from cryptocurrencies, but the technology giants may pose a danger. The official said that the regulator is much more closely monitoring large technology companies, which are increasingly invading the sphere of payments, because cash is used less and less. On the other hand, he sees cryptocurrencies only as a speculative asset that cannot yet compete with fiat currencies in terms of stability, guarantees of value and reliability. In Denmark, the number of cash transactions does not exceed 20%. Therefore, it is not surprising that the local regulator pays attention to payment companies that control non-cash transactions.
BTC, ETH and XRP forecasts for May 31, 2021
The forecast assumes a further decline in bitcoin to the levels of 34750, 34500 and 34000 Dollars. Ethereum will decline to the levels of 2200, 2100 and 2000 Dollars, and XRP - to the price values of 85, 82 and 80 cents.