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The race to create these new coins hasn't had a significant impact on the price of bitcoin, which has been trading under $30,000 since mid-April.
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On the other hand, the crypto’s 24-hour trading volume experienced a decrease of more than 20%.
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it succeeded in flipping its weekly performance back into the green. At press time, ETH was up 0.29% over the past seven days.
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This price increase also allowed the altcoin to strengthen against its biggest competitor, Bitcoin (BTC), by about 0.71% throughout the past day.
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The court filings, submitted in the early hours of May 25, show that the consortium will obtain Celsius Network’s institutional loan portfolio, staked cryptocurrencies, mining unit and other alternative investments. The group must make a $10 million deposit within three days to finalize the agreement.
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Court filings have revealed that cryptocurrency consortium Fahrenheit emerged as the successful bidder to acquire insolvent crypto lender Celsius Network. The acquisition involves Celsius assets previously valued at approximately $2 billion.
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