A few hours ago, the Asian exchange KuCoin announced that it suffered a hack that caused millions of dollars in losses. A hacker, or a group of hackers, gained access to the platform’s hot wallet and stole more than $150 million in Bitcoin, Ethereum, and other cryptocurrencies. The funds held in a hot wallet are...Read More
Ethereum’s spot has remained unfazed by the expiry of nearly 460,000 ETH Options contracts on Friday. The contracts that made up for almost $450 million in Open Interest, on expiration, dropped to $342 million, as highlighted by the data provider Skew. Source: Skew Although the drop in Open Interest was normal after such a huge...Read More
Over the past ten years, crypto-exchanges have emerged to become extremely crucial, not just with regard to adoption levels, but also when it comes to directing the overall growth of the industry. The previous year saw a lot of interest in greater levels of decentralization, an interest that contributed to the DeFi boom and renewed...Read More
“Just like locking the door doesn’t guarantee the safety of your home, TrustToken’s team token lock doesn’t guarantee liquidity won’t be pulled.” This was the statement made by Jeff Kirdeikis, CEO of TrustSwap, after he took to Twitter to respond to criticism after a company, HatchDAO, allegedly used TrustToken’s technology to exit scam users by...Read More
Although China still categorizes Bitcoin and other cryptocurrencies as illegal, several state-owned media outlets purportedly ran reports describing them as the best-performing assets since the start of the year. Bitcoin And Crypto Run On Chinese Media A popular state-owned media under the name Xinhua News Agency set the tone yesterday by citing a Bloomberg report...Read More
China-based Babel Finance has been a prominent crypto-lending company for a while now. However, it has been in troubled waters recently. The trouble, in fact, came in full force after the Black Thursday crash in March. Tether trouble According to an investigative report by Colin Wu, Babel Finance was badly affected by the crypto-market crash...Read More
Cardano registered a bearish pattern on the charts, one that validated the previous pattern to some extent, before the markets shifted dramatically to spur ADA upwards. Waves was in the oversold territory and might be forced to drop further in the coming hours. Enjin, however, appeared directionless in the market as buyers and sellers each...Read More
Ethereum bounced off its level of support, but this bounce did not hint at a reversal in downtrend from the $481-highs of late-August. It is likely that this bounce will reverse itself in the coming days. Further down the crypto-ladder, Algorand broke out of its bearish trend and could be primed to surge upwards. Decred...Read More
Let’s talk about the elephant in the room. Decentralized Finance has been all the rage for the past few months, and its tokens’ prices are a testament to the excitement. But while the objective of decentralized finance is a financial world which is without a centralized authority, one administered through efficient and seamless smart contracts...Read More
The Internal Revenue Service (IRS) seems to have found a way to block crypto tax evasion, following an update of its tax form. IRS: No Excuses for Crypto Traders According to the Wall Street Journal on Friday (September 25, 2020), the IRS is planning to alter its 1040 tax form. The revised tax form will...Read More
ETH inflows to exchanges have dropped by 53% in less than a week, a development that may sound alarming to DeFi traders. The inflows to exchanges dropped from $3.15M on 21 September 2020 to $1.48M, at the time of writing. While a drop in ETH held on exchanges may be perceived as a bearish signal,...Read More
Disclaimer: The findings of the following article attempt to analyze the emerging patterns in Litecoin’s long-term market and its impact on the price The crypto-market has been volatile since the beginning of this week, with the same resulting in price swings in either direction. At the time of writing, the prices of most major crypto-assets...Read More
Binance Coin showed signs of being on a healthy long-term uptrend as it retraced recent gains made. In the short-term also, it appeared likely to move north. Polkadot bounced off its support and might be headed for more gains, although it could also exhibit ranging action in the coming days. Verge has been in a...Read More
A recent report suggests that the amount of Bitcoin stored on exchanges is declining while BTC whales increase their holdings and that’s bullish for Bitcoin’s price. The paper also highlighted that investors have a much larger time horizon for their holdings now compared to previous years. Bitcoin Stored On Exchanges Drop In its latest report...Read More
Bitcoin’s price has seen quite a few ups and downs over the past month, with the world’s largest cryptocurrency exerting considerable influence on the altcoin market. This hasn’t necessarily translated well for coins like XRP, a crypto that has been noting lower lows and lower highs over the past two months. While an upward breakout...Read More
In a dedicated live stream, KuCoin’s CEO noted that although why he cannot reveal how much of the company’s total assets were affected during the hack, the stolen fund amount is “small for KuCoin.” The exchange will cover all the losses with its insurance fund. The company first noticed the abnormalities at 2:51 AM, Sept...Read More
Tron had been bearish over the past few weeks, but its recent surge on the charts could indicate the reversal of a downtrend. The next few trading sessions for TRX, therefore, will be crucial. NEM appeared to be at the beginning of a significant uptrend as it attempted to flip a level of resistance to...Read More
Bitcoiners in Venezuela don’t need the internet to send some Satoshis. Today, the crypto payments startup Cryptobuyer announced the successful launch of the first Bitcoin satellite node thanks to a collaboration between Cryptobuyer, Blockstream, and a team led by a crypto enthusiast named Aníbal Garrido. The initiative allows interacting with the Bitcoin blockchain without the...Read More
Investing efficiently in cryptocurrency and forex markets can be a tough cookie to crack. It requires years of understanding, technical analysis skills, practical experience, and a relative amount of patience. 91% of the traders in the world lose all their capital because they lack one or two of the skills mentioned above, and in the...Read More
The cryptocurrency market continues to rebound and has added another $10 billion to its market cap since yesterday. Bitcoin trades around $10,700, while some leading altcoins mark serious gains. Bitcoin Price Trades Around $10,700 Following yesterday’s increase in which Bitcoin topped at $10,800, the primary cryptocurrency retraced to its intraday bottom at about $10,550. However,...Read More
Monero was noting a bullish divergence on the charts, with XMR trading beneath an important level of resistance, at press time. Synthetix, however, showed indecision in the markets and could see a drop in price over the next few hours. DigiByte bulls and bears were in equilibrium, but bears could force another minor pullback in...Read More
Hot wallets of the popular cryptocurrency exchange KuCoin have been compromised and drained for at least $150 million worth of digital assets. The company reported the event as a “security incident” a few hours ago, reaffirming that “part of Bitcoin, ERC-20, and other tokens in KuCoin’s hot wallets were transferred out of the exchange.” The...Read More
On 25 September, crypto-trading firm Alameda Research minted the largest-ever quantity of Wrapped Bitcoin [WBTC]. News of the development was shared on Twitter by WBTC, with the tweet going on to note that the mint was worth 2,317 BTC, equivalent to $25 million. Source: Etherscan In fact, Alameda Research beat the previous record set by...Read More
KuCoin, one of the world’s most prominent crypto-exchanges by trading volume, was reportedly hacked earlier today. While exact details are yet to be known, $150 million worth of funds were moved out of KuCoin to an unknown address. The unknown address in question has since been doing test transactions, with the funds still with the...Read More
