View: 423
Want create site? Find Free WordPress Themes and plugins.

Bitcoin on Monday continued leaping towards record highs, extending its record run-up of about a week since the currency split into two: Bitcoin and Bitcoin Cash.

Main Story:

A single BTC was up by 3.5% and trading at $3,369.82 – the highest the currency has ever gone since its creation in 2009. The spike took the total market cap of Bitcoin to $55 billion, highest ever in the history of Bitcoin.

A single BTC was up by 3.5% and trading at $3,369.82 – the highest the currency has ever gone since its creation in 2009. The spike took the total market cap of Bitcoin to $55 billion, highest ever in the history of Bitcoin.

A few speculations in market recommend that this rally in Bitcoin is a result of deceptive trading tactics employed by some deep-pocketed investor(s) whose sole intention is to create an illusion that a potential buyer is willing to buy Bitcoin at a grand cost. Consequently, the price is going higher, providing bidders an opportunity to cancel the trade and sell at inflated rates – says The Cointelegraph.

 

Related: Buy Bitcoin online

 

Bitcoin Cash, on the other hand, is down by 57% after initially hitting $727 on August 2.

Bitcoin’s price has surged ever since the occurrence of hard fork on August 1 where a new currency, known as Bitcoin Cash (BCH) was born. BCH is an attempt to solve the processing problems that Bitcoin has been facing over the years due to the increased load of transactions and to take the block size from 1MB to 8MB.

Generally, a large portion of the cryptocurrency-network is going through the same trend in terms of price growth. Ethereum’s token currently went up 0.4%, taking the total value of Ethereum network to $25 billion. Similarly, other cryptos are also on a high.

News and Image Credit: marketwatch.com

Did you find apk for android? You can find new Free Android Games and apps.

Leave a Reply

Type Comments Here

Your email address will not be published.

3 × 4 =

Share Your Toughts

View: 383

Bitcoin Price Crash: OKEx Repudiates Market’s Manipulation

Want create site? Find Free WordPress Themes and plugins.

OKEx is known as a cryptocurrency exchange giant. This crypto-exchange is pushing back against accusations that the exchange is responsible for the manipulation of the market which triggered the price of Bitcoin to drop below $5,000 on its futures exchange last week.

Bitcoin price cash

Market Manipulation

A statement was released on Wednesday, in which the Hong Kong-based exchange repudiated allegations about its involvement in the futures market’s manipulation to settle the positions of optimistic traders.

Last week, OKEx got criticized following the Bitcoin price crash as the value of its Bitcoin futures dropped to $4,755, in a fevered sell-off, even with the average price of Bitcoin globally, which flitted around $7,000 during the same time.

The Statement

The statement says:

“OKEx provides a platform to allow customers to trade in our order books, but we are not directly involved in the trades. Moreover, all the transaction details are public. We, as a trading platform, do not make a profit from the price volatility but generate income from trading fees. We have not reasoned to, and have never and will not, manipulate the prices of any of our market.”

Merchants whose positions got settled during the sell-off time were incensed, and one of them was so distressed that he went to the headquarters of the company and even threatened that he would take his own life.

Eventually, during the 90-minute incident, the exchange inverted trades that occurred, mentioning this unconventional movement as a planned attempt to deploy the market, and since then, it has added the price limit rules to help in preventing the manipulation in the future market.

 

Moreover, OKEx warned that it will take legal action against those, who falsely accuse them for the manipulation of the market and disseminate false charts to that effect.

What does the company have to say about it?

The company says:

“We reserve the right to take necessary legal action against any parties who libel our company and reputation by any means.”

However, the event following negative press coverage doesn’t seem to have a constant influence on the popularity of the trading platform of the company, as  OKEx is still on the fourth most popular spot cryptocurrency exchange in the ranking, with almost $750 million, 24-hour trading volume.

Did you find apk for android? You can find new Free Android Games and apps.
View: 392
View: 449

Bitcoin On The Rise – Extends Record Climb

Want create site? Find Free WordPress Themes and plugins.

Bitcoin on Monday continued leaping towards record highs, extending its record run-up of about a week since the currency split into two: Bitcoin and Bitcoin Cash.

Main Story:

A single BTC was up by 3.5% and trading at $3,369.82 – the highest the currency has ever gone since its creation in 2009. The spike took the total market cap of Bitcoin to $55 billion, highest ever in the history of Bitcoin.

A single BTC was up by 3.5% and trading at $3,369.82 – the highest the currency has ever gone since its creation in 2009. The spike took the total market cap of Bitcoin to $55 billion, highest ever in the history of Bitcoin.

A few speculations in market recommend that this rally in Bitcoin is a result of deceptive trading tactics employed by some deep-pocketed investor(s) whose sole intention is to create an illusion that a potential buyer is willing to buy Bitcoin at a grand cost. Consequently, the price is going higher, providing bidders an opportunity to cancel the trade and sell at inflated rates – says The Cointelegraph.

 

Related: Buy Bitcoin online

 

Bitcoin Cash, on the other hand, is down by 57% after initially hitting $727 on August 2.

Bitcoin’s price has surged ever since the occurrence of hard fork on August 1 where a new currency, known as Bitcoin Cash (BCH) was born. BCH is an attempt to solve the processing problems that Bitcoin has been facing over the years due to the increased load of transactions and to take the block size from 1MB to 8MB.

Generally, a large portion of the cryptocurrency-network is going through the same trend in terms of price growth. Ethereum’s token currently went up 0.4%, taking the total value of Ethereum network to $25 billion. Similarly, other cryptos are also on a high.

News and Image Credit: marketwatch.com

Did you find apk for android? You can find new Free Android Games and apps.
View: 404

Crypto Exchange EtherDelta Gets Hacked – Loses Coins Worth Millions

Want create site? Find Free WordPress Themes and plugins.

A renowned crypto exchange EtherDelta got its DNS server breached by an attacker on Wednesday, allowing the hacker to redirect millions of users to a malicious website.

The announcement of the hacking was made in a series of tweets where EtherDelta warned users that a hacker had temporarily hacked their DNS server and was redirecting users to a malicious version of the site.

Being a decentralized exchange, EtherData comes under the control of Smart Contracts, meaning that it doesn’t provide the third-party control of user funds. However, the exchange does allow users to import private keys to the exchange itself.

As a result of this attack, the hacker was able to steal private keys from users who unwittingly imported their private keys into the imposter website.

The data obtained has revealed that the hacker stole around 308 ether – worth around $250,000 at the time of writing.

EtherDelta said that clients who got to the exchange using either MetaMask or a hardware wallet are “totally sheltered” from the phishing attack. The organization included that funds from clients who never imported their key on the malicious site “should be safe,” but brokers might need to consider moving their assets to another wallet address as a safety effort — and reconsider their choice to import their private keys directly into a site.

The Risks Associated With Crypto Exchanges:

The attack came days after South Korean exchange Youbit revealed that it lost 17 percent of its assets as the aftereffect of a hack — the second the organization had faced this year — compelling its administrator, Yaipan, to declare bankruptcy.

Like Youbit, EtherDelta was a small exchange. CoinMarketCap reports that it processed just around $7 million of volume during the previous 24 hours, a figure that is, to some degree, lower-than-normal because of the breach. However, the exchange was well known among ERC20 token merchants, as it was one of the first exchanges to support tokens derived from lower profile ICOs (Initial Coin Offerings).

Neither of these hacks will prompt a huge disturbance in the worldwide digital currency markets, but each exhibits the risks related to using crypto exchanges.

Did you find apk for android? You can find new Free Android Games and apps.
View: 392