Lending Platforms Expected Crash, Citing “Excessive Leverage” – May 21

📈 30 Second Cryptocurrency Price Summary

Current Bitcoin Price$40,491

Bitcoin price has reclaimed the $40,000 mark again, as it continues a strong recovery from this week’s flash-crash.

Top-20 altcoins have somewhat stabilized, with Ethereum falling less than 1%, XRP dropping 3% and Binance Coin gaining 4% for the day.

Top Stories for May 21, 2021 🔥

👉 Lending Platforms Expected Crash, Citing “Excessive Leverage”

Cryptocurrency lending platforms were preparing for a crash, according to Unchained Capital CEO Joe Kelly, whose company had lowered its loan-to-value (LTV) ratios in anticipation of a plunge.

Unchained capital was not the only company to lower its LTV ratios, with Nexo also making the same preparations. Nexo co-founder Antoni Trenchev says that “excess leverage” has now been cleared out of the system.

👉 US Regulators To Clamp Down On Crypto, But No Ban

Avanti Financial founder and CEO Caitlin Long believes that a “US crypto regulatory crackdown” is underway, however there will be no ban on Bitcoin.

Long emphasised a pattern being “pretty clear” that regulators has set their sights on the space, but predicts that they will leave plenty of room for innovation.

👉 Google Searches For Crypto Terms Sets New Record

Google search volumes involving cryptocurrency have reached a new all-time high in the United Sates and globally, according to Google Trends.

The peak in the search topic came the week of May 9 to May 15, which also happened to coincide with Ethereum miners earning a new record in revenue – including $128 million in a single day.