What happened in May for the cryptocurrency and blockchain spaces? Don’t worry — the Investing News Network provides an overview of some of the biggest news covered last month.
May was another month of bustling activity within the cryptocurrency and blockchain spaces and proved to be an increasingly exciting space for interested investors.
In terms of cryptocurrencies, bitcoin reached a month-high of US$9,952.14 early in the month on May 5–sparking hope that the digital currency favorite would soar past US10,000–but dipped throughout the month to a low of $7,223.70 on May 27. Ethereum also started the month off at a comfortable US$834.36 but had dipped to US$516.15 on May 28, representing a 38 percent decrease. Ripple also took a hit last month, dropping from US$0.84 to US$0.61 as of May 31.
That said, the month wasn’t just about fluctuating digital currency prices. Throughout the month, the Investing News Network (INN) reported on a number of stories in the space, including: Facebook’s (NASDAQ:FB) head of messenger announcing May 8 his intentions to explore the use of blockchain across Facebook, Bloomberg launching its own cryptocurrency index, announced May 9, and Goldman Sachs’ backed Circle announcing on May 17 the launch its own cryptocurrency called Circle USD Coin.
In terms of blockchain company-specific related news, DMG Blockchain Solutions (TSXV:DMGI) announced mid-month that its blockchain forensics and analytics group will be expanding internationally. Meanwhile cryptocurrency mining giant Hive Blockchain (TSXV:HIVE) announced May 22 that it had completed the acquisition of Kolos Norway AS and its 64-hectare property in Ballangen, Norway.
While not a blockchain mining company, VitalHub (TSXV:VHI) announced on May 31 that it had made the first sale of its mental health blockchain solution, called WellLinc, a service specifically targeted towards mental health and long-term care organizations.
The goal of the platform is to provide organizations access to a more secure, distributed client records that help facilitate the exchange of patient health data cross the continuum of care.
Watch the video above for more insight into what happened in the cryptocurrency and blockchain sectors for the month of May.
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Securities Disclosure: I, Jocelyn Aspa, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: HashChain Technology is a client of the Investing News Network. This article is not paid-for content.