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The team at Binance has informed the crypto and investor communities that they have carried out the 6th quarterly Binance Coin (BNB) token burn. The exchange went on to estimate that the amount of coins destroyed during this event were worth $9.4 Million. The team also provided the Etherscan link for the transaction on the Ethereum blockchian.

Fellow Binancians,

In accordance with our whitepaper, we have completed our 6th quarterly BNB token burn of 1,623,818 BNB (roughly $9.4MM USD equivalent).

Burn Txid: https://etherscan.io/tx/0xbf97244cf0c5709e0dd36e37bacb994f95c245aaf20a279595b5371ff592f4b0#decodetab

Thanks for your support!

Binance Team

Binance’s CEO, Changpeng Zhao, took to twitter to explain to his followers how his first token burn caused a bit of nervousness for him.

Burn complete. I remember when I did the first burn of $1,500,000 USD equivalent in BNB, I was nervous as hell. Now, well, I am still nervous, lol. Fastest way to spend money. https://t.co/R6PL2cSURM

— CZ Binance (@cz_binance) January 16, 2019

What is A Coin Burn?

The term Coin burn in the crypto and blockchain industries refers to the process of simply sending a certain amount of tokens to an address that cannot be accessed on that particular blockchain. In the case of BNB, it is an ERC20 token and the burn consisted of the exchange sending Binance Coin to an irretrievable Ethereum address.

How the BNB Token Burn Was Designed to Work

The team at Binance had promised via the project’s whitepaper that they will continually buy back a certain amount of BNB from circulation every quarter for destruction. The exchange sets aside 20% of its profits to buy back the digital asset. The plan is to reduce the initial 200 Million tokens minted in the ICO phase, to half that number: 100 Million BNB.

Current Circulating and Total Supply 

Further checking coinmarketcap.com, we find that the current BNB token supply is 189,175,490. This means that the exchange has approximately 89 Million BNB to destroy to achieve their goal as envisioned in the whitepaper. This then leaves any crypto investor with the notion that as supply decreases, the value of BNB is sure to rise with time. The circulating supply of BNB according to Binance.com currently stands at 141.18 Million tokens.

What are your thoughts on the 6th token burn that was carried out by Binance? Please let us know in the comment section below. 

[Image courtesy of Medium.com/@alismedia]

Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of Ethereum World News or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.

The post Binance Burns $9.4 Million Worth of BNB on its 6th Quarterly Coin Burn appeared first on Ethereum World News.

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Right after the highly anticipated DX.Exchange was launched on the 7th of January, its Co-Founder and CEO, Daniel Stowronski, announced via twitter that the exchange would be fully operational in about one or two weeks. He added that the exchange would go through a ‘soft launch’ process that would ensure all trading pairs and deposits were fully functional with time. His exact words from the tweet can be found below.

Please remember we are in a “soft launch” not all pairs or deposit options are fully available. We will ramp up each day to get to 100 percent. About 1-2 weeks. Thank you to the community!

First Security Vulnerability Patched

Three days after its launch, DX.Exchange announced to the crypto and investor communities that they had successfully patched and shut down a security vulnerability that was discovered by one of its users. The online trader who requested for anonymity, explained how he had collected 100 JSON Web Tokens that would have resulted in the access of their corresponding user accounts.

Indecent of DX.Exchange Blocking a User Account

One user of the exchange reached out to Ethereum World News with a complaint that his account had been blocked after making solid gains during the first few hours of DX.Exchange going live. He was quick to point out that he managed to make 10 x profit as can be seen from the following excerpt from his communications:

I made an approx.  10 x profit during the opening hours of DX exchange.

I have been in contact with Telegram admin and their support over and over again this week. They asked additional documentation for KYC that I provided. I was told I had to wait for Ethereum Withdraw activation. I received email confirmation and confirmation from Telegram admin that a bank transfer was made that I used to withdraw some funds already. I never received anything.

They still refuse to send my coins and claim technical problems during the trades.

I made some very lucrative trades in the DX tokens during the first volatile hours.

To me it is the nature of Crypto that there are high risks and reward during this period that market sets the price based on demand and supply. Especially for a token that is used for their unique Operating Model were you can use it to pay for tokenised stocks that are tradable 24/7…

Meanwhile my account is still blocked (even after receiving mail that I could trade again) and I made a solid loss on my Ether.

I was promised an answer before Monday [January 14th].

The user also took to twitter to voice his grievances with the exchange as can be seen in his tweet below. DX.Exchange had not responded to his tweet at the moment of writing this.

Deeply concerned about my approved @DXdotExchange account which they blocked after solid gains from volatile first trading hrs. DX claims technical issues but breaks all promises to sort it out. Pls help. @coinbase @binance #xrp #btc #eth

— GetLuckyCrypto (@GetLuckyCrypto1) January 15, 2019

Continual Upgrades by DX.Exchange

Just yesterday, January 15th, DX.Exchange tweeted that they had completed an update to the platform. The tweet went on to thank all users for their patience.

We completed the update process and our platform is live again. Thank you for your patience

— DX.Exchange (@DXdotExchange) January 15, 2019

Less than an hour ago, the exchange has also announced that they are currently undergoing another maintenance update.

IMPORTANT UPDATE: Our trading platform is currently not accessible due to a maintenance update. Thank you for your patience, we will update accordingly once the platform will be accessible again.

IMPORTANT UPDATE: Our trading platform is currently not accessible due to a maintenance update. Thank you for your patience, we will update accordingly once the platform will be accessible again.

— DX.Exchange (@DXdotExchange) January 16, 2019

What are your thoughts on the status of DX.Exchange one week after launch? Please let us know in the comment section below. 

Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of Ethereum World News or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.

The post DX.Exchange Continues to Upgrade its Platform a Week After Launch appeared first on Ethereum World News.

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Ripple price has formed a major support near 0.0000900BTC against bitcoin. XRP is likely preparing for an upside break above 0.0000920BTC and 0.0000950BTC in the near term.

Key Talking Points

  • Ripple price is forming a crucial support base near the 0.0000900BTC level against bitcoin.
  • XRP/BTC may soon surpass a significant bearish trend line with resistance at 0.0000910BTC on the 4-hours chart (Data feed via Binance).
  • The price could rally above the 0.0000920BTC and 0.0000950BTC resistance levels.
Ripple Price Analysis

In the past few days, there were range moves below 0.0000920BTC in ripple price against bitcoin. XRP to BTC declined a few points below the 0.0000910BTC and 0.0000900BTC levels, but downsides were limited.

Looking at the chart, the price made a few attempts to break the 0.0000920BTC resistance level, but it failed to gain momentum. As a result, there was a minor downside reaction below the 0.0000910BTC and 0.0000900BTC levels.

The price traded as low as 0.0000889BTC before starting a consolidation phase. It recently moved above the 23.6% Fib retracement level of the recent decline from the 0.0000950BTC high to 0.0000889BTC low. However, there was no close above the 0.0000920BTC resistance and the 100 simple moving average (4-hours).

More importantly, there is a significant bearish trend line in place with resistance at 0.0000910BTC on the 4-hours chart. Therefore, a successful break above the trend line, 0.0000920BTC, and the 100 simple moving average (4-hours) may open the doors for a solid rally.

The next major resistance is at 0.0000950BTC, above which the price may climb to 0.0000980BTC. An intermediate resistance is at 0.0000964BTC, which is the 1.236 Fib extension retracement level of the recent decline from the 0.0000950BTC high to 0.0000889BTC low.

Overall, ripple is clearly preparing for the next crucial break either above 0.0000920BTC or below the 0.0000885BTC support. The current price action is positive, suggesting high chances of an upside break above 0.0000920BTC. If not, XRP to BTC could break the 0.0000885BTC support and trade towards the 0.0000850BTC or 0.0000840BTC level in the near term.

The market data is provided by TradingView.

The post Ripple (XRP) Price Could Soon Rally Versus Bitcoin (BTC) appeared first on Ethereum World News.

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Cryptocurrency, Litecoin (LTC)–As the crypto markets struggle to retain the price gains which characterized the start of 2019, Litecoin has seen a small boost in popularity thanks to the efforts of a MMA promotion and its fighters.

While most investors could think of more apparent avenues for crypto advertisement, it appears the Litecoin Foundation has found a home in promoting LTC through the Ultimate Fighting Championship (UFC). In December, the coin’s logo was featured prominently in the octagon of the mixed martial arts organization, during their UFC 233 pay per view event which peaked at 2+ million in viewership.

On Jan. 14 former Olympic Wrestler Ben Askren, who is scheduled to make his Ultimate Fighting Championship debut in a Welterweight match against Robbie Lawler for UFC 235, took to Twitter to promote both his upcoming match and its official cryptocurrency partner: Litecoin.

In a 35 second video which has amassed over seventy thousand views as of writing, the former ONE FC and Bellator Welterweight Champion gave a shout-out to LTC, and thanked the Litecoin Foundation for sponsoring him in the event,

“Pumped for @LTCFoundation to sponsor me for UFC 235!”

Askren went on to tag Charlie Lee, Litecoin’s founder, and John Kim, a prominent figure in the Litecoin Community, as well as the tags #ltcwestcoast #ltceastcoast.

In addition, Askren included a shout out to the broader Litecoin enthusiast and investment base, thanking the community for its efforts via the Litecoin Foundation in securing him a sponsorship. He also reported being a supporter of LTC, including the “cause of LTC”–presumably its promotion of decentralization and the promotion of usable cryptocurrencies in transactions. Askren also went on to inform LTC supporters that he holds “a lot of Litecoin,” indicating that

“What’s up Litecoin community. I just wanted to thank you for the sponsorship for UFC 235. I’m especially honored to represent you guys, because you are a cause and something I believe in. Obviously I hold a lot of Litecoin myself. I think it’s especially great when not just that I get a sponsorship, but when I get one that I believe in and that I think can help make a better future. And I think that all of you guys see that vision as well.”

Pumped for @LTCFoundation to sponsor me for UFC 235! @SatoshiLite @johnkim77 #ltcwestcoast #ltceastcoast pic.twitter.com/oV0bzey2XA

— Ben Askren (@Benaskren) January 15, 2019

While coins have had supporters in the past, Askren’s claims put him not only in line with the sponsorship for LTC, but with the coin’s community as well. Litecoin, like most cryptocurrencies, has had little to grow excited over since hitting its all time high during the bull run of December 2017.

However, through the marketing efforts of founder Charlie Lee–who has made himself independent of LTC price movements by selling his entire holding–and the Litecoin Foundation, LTC has been proactive in securing rather high-profile engagements. In addition to being featured prominently in the octagon during last month’s pay per view event, the support for Ben Askren could propel the coin to an even broader audience when UFC 235 kicks off on March 2nd, proving that individual currencies, and their community bases, can do much by way of grass-roots promotion.

The post Former Olympic Wrestler Ben Askren Promotes Litecoin (LTC) Ahead of UFC 235 appeared first on Ethereum World News.

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Business Insider recently sat down with Travis Scher, who heads Digital Currency Group’s investment branch, which has made investments into Coinbase, Circle, Ledger, and other preeminent blockchain startups, to talk about his Bitcoin industry predictions for 2019. Among other things, Scher revealed that he expects for Wall Street and institutions to foray into crypto in the coming 12 months.

Wall Street To Down The Bitcoin Pill

Speaking to Business Insider’s Madeline Shi, Scher, who has worked in the crypto sector since late-2015, laid out three predictions. First, Scher noted that he expects for 2019 to be a great year for the dichotomy between Wall Street hotshots and crypto assets,

He noted that while Wall Streeters have lagged behind the crypto trend for years on end, this will change in 2019.

Per previous reports from Ethereum World News, Dollar Vigilante, Jeff Berwick, told BlockTV, a video-centric crypto media outlet, that he expects for institutional adoption to spark the next Bitcoin bull run. Berwick, an evident skeptic of the traditional fiat system, noted that once institutions see adequate platforms to transact on, cryptocurrency prices will explode en bloc, as there are presumed trillions waiting on the sidelines. In short, Berwick noted that Wall Street-friendly platforms, like the proposed Bitcoin ETFs, Nasdaq’s “crypto 2.0” futures, among others, will “change the game completely.”

And these quips aren’t baseless speculation. While Bakkt, a multi-faceted digital asset platform partnered with the NYSE parent Intercontinental Exchange (ICE) recently saw its launch get pushed back to “early-2019,” the innovators behind the upstart are poised to tackle institutional participation head on. Per our previous reports, Bakkt, headquartered in New York, acquired “certain assets” and employees of Rosenthal Collins Group (RCG) to expand its risk management, compliance, and other pertinent back-end departments.

The specifics of the deal weren’t divulged, but the up-and-coming platform, which has been deemed one of the crypto space’s most important developments of 2019, recently saw a $182.5 million cheque fly its way from sixteen investors, which included Mike Novogratz’s Galaxy Digital, ICE, Microsoft’s venture arm, and San Francisco-based Pantera Capital.

Moreover, the municipal government of New York City, purportedly Microsoft, and an array of other corporate partners recently launched the Blockchain Center in the Big Apple to improve crypto education, to subsequently improve adoption.

Blockchain Gaming, Non-Fungible Tokens To Mount

Another prediction Scher touted was the arrival of blockchain-based gaming applications and non-fungible tokens. The DCG executive noted that he expects experimentation, along with the adoption of “big hits” in this budding subsector throughout 2019. He added that for the most part, venture capitalists have been ignoring this sector, due to games’ “hit-driven” nature. So, Scher beckoned venture investors to take a real look at this business, stating:

Venture capitalists should be paying attention to the ones that are building platforms and developer teams, companies that are not creating just one game but are building several developed business models that can succeed

This recent quip comes nearly at the same time that Kyle Samani, the managing partner of Multicoin Capital, claimed that during 2019, he awaits the launch of a number of “high profile blockchain products,” which are likely to attract a mass of customers, from both the institutional and retail realm.

Giving an example, he brought up Tari, an open-source venture built on Monero and backed by Riccardo Spagni. With Monero-based code, Tari will be able to facilitate the issuance and management of non-fungible tokens (NFTs), like entertainment tickets, loyalty points, and video game items — colossal markets that crypto could tap.

Samani isn’t the only astute industry insider to think that NFTs will push blockchain adoption. With the rise of in-game items, like skins in League of Legends and Fortnite’s V-Bucks, many pundits have agreed blockchain-based NFTs could skyrocket to the top as a viable way to mediate gaming trades/transactions.

Less Funding For Crypto Startups, Funds

Lastly, Scher drew attention to his third and final forecast, which was harrowing unlike the first two. The DCG top brass member explained that he expects funding for crypto ventures, including startups, projects, and funds, to slow during the first half of 2019, especially as hype exits this industry en-masse.

Scher explained that venture funds will be hesitant to make significant capital allocations towards this industry, citing the spectacular collapse of Bitcoin-backed hedge funds throughout 2018.

Title Image Courtesy of Chris Li on Unsplash

The post 2019 Bitcoin Prediction: DCG Exec Expects Wall Street Crypto Foray appeared first on Ethereum World News.

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Ethereum Constantinople Blockchain Upgrade Delayed

On Tuesday afternoon, approximately 48 hours before Ethereum Constantinople, five protocols focused on short-term scaling solutions and issuance reductions, was slated to go live, reports arose that the upgrade will be delayed.

Christine Kim and Nikhilesh De of CoinDesk recently reported on the matter. The two journalists explained that on Tuesday, ChainSecurity, a smart contract auditor, revealed that the integration of Ethereum Improvement Proposal 1283 would allow for attackers to steal users funds. In an emergency call, which saw Vitalik Buterin, Hudson Jameson, Afri Schoedon, and others make an appearance, core developers confirmed that the hard fork upgrade should be delayed, as the issue is assessed.

In an interview with CoinDesk, Joanes Espanol explained the vulnerability contained in EIP 1283. Espanol, the CTO of Amberdata, noted that the so-called “reentrancy attack” allows a malicious actor to “reenter” a blockchain function multiple times, even if the users’ “state of affairs” doesn’t update. The blockchain technologist elaborated:

“Imagine that my contract has a function which makes a call to another contract… If I’m a hacker and I’m able to trigger function a while the previous function was still executing, I might be able to withdraw funds.”

Regardless of this delay, many crypto commentators and researchers have claimed that the Constantinople upgrade will bring long-term benefits to the popular blockchain network. Alex Krüger once noted that considering simple supply and demand economics, Ether may get a tailwind due to Constantinople’s supply issuance reduction.

1/ #Ethereum's Constantinople fork is coming on block 7080000, around January 16, 2019. Constantinople will reduce the block rewards from 3 to 2, decreasing new $ETH supply accordingly.

On the long run, this is decidedly bullish. https://t.co/4bbgAHMz7Z

— Alex Krüger (@Crypto_Macro) December 24, 2018

He added Ether holds at $150, Constantinople will only force out “pro miners” that are paying $0.075 per KWH, which is far from the “death spiral” that some cynics were awaiting. In the analyst’s eyes, hobbyist miners, whether paying $0.075+ per KWH or otherwise, will continue to hash away, as this subset of participants doesn’t care about short-term fluctuations.

This, of course, is a presumably positive sign for the Ethereum ecosystem, as many pundits look to the health of mining prospects to determine fair valuations for cryptocurrencies.

However, there have been skeptics. Han Yoon, the chief executive at multi-faceted crypto startup Lunar Digital Assets, took to his personal Medium blog last Tuesday to touch on the upgrade, slated to go live this Thursday.

After an extensive analysis of Ether’s status in the broader mining realm, in which he claimed that the golden days of GPU mining are now in the rear mirror, the Lunar chief broke down Constantinople’s probable impact.

Yoon noted that as it stands, Ethereum GPU miners are operating on extremely thin margins, with a ~$2,000 rig generating a mere $20/week at average electricity rates. The researcher went on to note that this already dismal situation is “all about to change.” Although he did laud block reward reductions, like Bitcoin’s halving or events of similar caliber on Ethereum’s chain, as “beneficial economically,” Yoon noted this so-called “thirdening” couldn’t happen at a worse time.

He noted that Ethereum’s hashrate could fall drastically after the upgrade, which would hurt ETH’s value proposition in turn. Constantinople may also drastically increase ASIC-induced centralization.

Anyhow, this recent news has sent the asset tumbling. At the time of writing, ETH is going for $120 apiece, posting a 6% loss over the past 24 hours.

Ethereum News Roundup:
  • Ether Purportedly Stolen From Cryptopia: We recently reported that Cryptopia, a New Zealand-headquartered exchange focused on altcoins, was hacked. Although the company didn’t divulge what assets were stolen, only claiming that “significant losses” were incurred, analysts suggest that upwards of 20,000 ETH ($2.5 million) fled the exchange’s wallet on the day of the attack.
  • Crypto Analysts Expect Ethereum Competition In 2019: Kyle Samani of MultiCoin Capital claims that Ethereum’s hegemony over the smart contract realm will be challenged in 2019, as projects like Cosmos look to usurp the platform’s rule.
Crypto Title Image Courtesy of descryptive.com/ Via Unsplash

The post Ethereum Constantinople Delayed, ETH Down 5% appeared first on Ethereum World News.

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Focus On Bitcoin, Not BTC

Since Bitcoin (BTC) burst onto the digital scene in 2009, the innovation, first headed by Satoshi Nakamoto, has been lauded as an optimized, decentralized version of Visa, Mastercard, and the like. And while the narrative has undoubtedly changed over the years, with the “BTC is digital gold” argument becoming a common sight, many believe that the world’s first blockchain network could still usurp centralized networks with ample research, development, and most importantly, time.

In a recent edition of Off The Chain, a crypto-centric newsletter and podcast run by Anthony Pompliano, the founder of Morgan Creek Digital Assets and an overt skeptic of banks, it was explaining that Bitcoin could begin to make a move on centralized payment ecosystems. Pompliano, who authored the piece, explained that a spotlight should be put on the blockchain itself, dubbed the “world’s most secure transaction settlement layer,” rather than just BTC itself.

And while Pomp made it clear that it is difficult, maybe impossible to value payment ecosystems, as the concept of network value is often abstract, not quantifiable, and still developing, the leading crypto investor did his best to draw attention to Bitcoin’s strong, but lesser-known fundamental measures.

Bitcoin, the transaction settlement network, is a sleeping giant —more people should be talking about this. https://t.co/aUwlVWegMn

— Pomp (@APompliano) January 15, 2019

Morgan Creek’s founder also quipped that he wouldn’t be surprised for BTC to start making a move on Visa and Mastercard. This move may only be accentuated as scaling solutions like the Lightning Network and other improvements go live and garner copious traction, while Bitcoin’s fundamentals continue to beat that of its altcoin counterparts.

Bitcoin’s Market Cap May Surpass Visa & Mastercard… Eventually

Citing recently-aggregated data from Diar, a leading crypto-friendly publication and research unit, Pomp noted that Bitcoin’s miners were “paid a total of $5.8 billion in revenue (fiat value of BTC produced) in 2018.” Although these aren’t exact numbers, especially considering the depreciation of BTC and other pertinent nuances or caveats, Pomp explained that this sum, the “top line revenue figure,” would help put Bitcoin’s status in the payment world “into context.”

The commentator, known for anti-bank, pro-crypto rhetoric and scalding comments on the establishment, subsequently compiled and visualized basic financial data from Visa, Mastercard, Square, Western Union, and two leading social media platforms to convey a point.

Pomp explained that from a revenue multiple (revenue to market capitalization ratio) point of view, Bitcoin is effectively more undervalued that both Visa and Mastercard — “the two transaction settlement networks that are most commonly compared to Bitcoin.” He noted that although BTC isn’t meant to be valued by revenue multiple, a measure often used in traditional markets, this gives context to the underlying blockchain’s performance and pseudo-inherent value.

And while BItcoin’s RM is expected to increase over 2019, due to suppressed prices, Pomp made it clear that such a move would be reasonable, “given the fast growth rate and historical premiums given to early companies/networks in an attempt to price in untapped potential.”

With all this in mind, he expressed that he wouldn’t be surprised if Bitcoin, currently 1/4th the market cap of Mastercard and 1/6th of Visa, begins to overtake the valuations given to traditional payment networks over the next three years. Ending his analysis piece on an optimistic note, Pomp wrote:

The legacy networks were built for a world that we no longer live in and the decentralized network is built for the future.

This recent quip comes just days after Pomp took to Ran NeuNer’s Crypto Trader to claim that he expects for BTC to range trade between $2,500 and $4,500 for much of 2019. However, like his Off The Chain post, he remained bullish on the network’s fundamentals, explaining that hashrate quadrupled (at 2018’s peak), while transaction count increased month-over-month from March until now. And, a collective $400 billion worth of value was settled on the Bitcoin network throughout 2018.

Title Image Courtesy of Andre Francois Mckenzie Via Unsplash

The post Crypto Investor: Bitcoin (BTC) May Surpass Market Caps of Visa & Mastercard In 3 Years appeared first on Ethereum World News.

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Latest EOS News

While there are numerous opportunities to profit, we cannot really hide our heads in the sands. Blockchain and web 3.0 is proving to be a breeding ground for hackers and scammers. And it’s not hard not to see where all this is stemming from. If there are no intervention, centralized exchanges will always be honey pot for hackers on the lookout searching for “prey”. A lapse and the resulting hack can be devastating.

Read: News Flash: Cryptopia Exchange Hacked, Investigations by New Zealand Authorities Ongoing

However, it seems like some small exchanges are not drawing lessons from multi-million losses of Coincheck, Coinone and others pinned down not only by regulators but from customers demanding reimbursement of funds.

It’s unfortunate but Cryptopia is the latest “prey” and reports indicate that as much as $2.5 million worth of ETH might have been siphoned off. That is substantial and it could explain why the exchange is offline.

pic.twitter.com/0ZwqFfwwHi

— Cryptopia Exchange (@Cryptopia_NZ) January 15, 2019

According to an official statement, hackers struck on Jan 14 but the team intercepted them. To prevent further damage, they took the platform offline. Thereafter Cryptopia notified authorities. However, this was not before 19,390.663 ETHs were moved off the exchange to an unknown wallet.

I wish you all the best. However, you have listed so many shit coins it was only a matter of time until something like this happened. Staff are always distracted dealing with shitcoins instead of focusing on what matters. That's what it looks like from an outsiders perspective.

— MacX (@WhiteHayez) January 15, 2019

But even with this hack, some are unsympathetic insisting that they had listed so many shit coins, staff were distracted from dealing with what really matters.

EOS Price Analysis

Like the rest, EOS performance is impressive. It’s up 6.4 percent against the USD at the time of press. From candlestick arrangement, it is likely that EOS will rally and even break above the $3.2 and $4 barrier.

Also Read: Bittrex Has Launched a Cryptocurrency Over-the-Counter (OTC) Trading Desk

Still, before any of that happens, we shall maintain a bearish outlook only changing our short to medium term preview subject to EOS bulls building enough momentum and driving prices first above $3. As laid out in previous EOS price analysis, the race to $4—our first conservative target depends on the strength of bull break out above $3.

At the moment though, aggressive traders can buy at spot with stops at Jan 14 lows of $2.2 with first targets at $3. Meanwhile, conservative traders ought to initiate longs once there are gains above $3.2 or Dec 2018 accumulation with targets at $4.

Our short-term EOS/USD trade plan will be as follows:

Buy: Spot, $3

Stops: $2.2, $3

Target: $4

NEO Price Analysis

At 17th, NEO’s performance is average. It is up 5.4 percent in the last day and far from what it registered in the first week of January.

Regardless, the path of least resistance is Northwards and with favorable candlestick arrangement from a top down approach, bulls stand a chance to retest $15. However, this is dependent on the trajectory taken in the next few days as we note that NEO, like most altcoins, is stuck within a bear breakout pattern despite yesterday’s gains.

If anything, we need high-volume gains above $10. Afterwards, the first target will be $15.

Trading the NEO/USD pair will be as follows:

Buy: $10

Stop: $8.5

Target: $15

All Charts courtesy of Trading View—BitFinex

This is not Investment Advice. Do your Research.

The post Altcoins Daily Preview: NEO and EOS Rise, Cryptopia’s Security Lapse appeared first on Ethereum World News.

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Latest Ethereum News

At the height of late 2017-2018 ICO mania, blame was laid squarely on platforms as Google, Twitter and Facebook. The reason? Well, their global reach and lack of checks to filter out ads that promote crypto scams dominated. Lead by China and South Korea, the search engine giant and social media platforms as Facebook and Twitter followed suit blocking ICO and crypto related ads. Steps have been made and some as Facebook and Google have backtracked from their hard liner stance.

Read: Startup: Google Blacklisting ‘Ethereum’ As Ad Keyword

Even still, according to their latest crypto advertising policy, interested crypto exchanges seeking to roll out ads must first get approval and restrict their reach within the US and Japan only. Following Decenter’s queries on why Google were blocking off “Ethereum”, the response has been unsatisfactory. It is even a source of debate at Reddit where users have strong reasons to believe that the company has other ulterior motives to de-platform projects and have been notorious for using their monopolist status to muzzle legitimate startups.

Also Read: Coinbase, Kraken and Huobi To Support Ethereum’s (ETH) Constantinople Hard Fork

While it is true that Ethereum was one of the many platforms that scam ICOs rode on, Google’s motivation to curb scams and impose outright ban on anything crypto is counter-productive.

A user, ThePlague while on Reddit said:

“It might be a desire to prevent scams, but there certainly can be other motivations as well such as de-legitimizing a payment system and technology that they can’t control. It may sound paranoid, but they do have a history of using their various platforms to push their agendas.”

Ethereum Price Analysis

At spot prices, ETH is a top performer in the top 10, adding 7.3 percent at the time of press. What’s more interesting is that bulls are finding their stead and after last year’s deep correction that saw prices tank more than 90 percent, it is likely that ETH prices will bounce back, breach $170 and spur a rally with feasible targets at $250 or October 2018 highs.

Trend and Candlestick Formation: Bearish, Consolidation

As mentioned before, ETH is trading within a larger bear breakout trend. At spot prices, the failure of bulls to confirm yesterday’s gain will usher in a wave of sellers as the third phase of a classic bear pattern prints out with targets at Dec 2018 lows at $70.

Therefore, it is of prime important that conservative traders wait for a high-volume break and close above $170 as prices break away from Dec 2018 consolidation. Meanwhile, aggressive traders can initiate long positions now that ETH found support at the 50 percent Fibonacci retracement level.

In a double bar bull reversal pattern—and as Fibonacci retracement rules dictate, ETH prices may expand above $170 ideally to $250.

Volumes: Low, bullish

In an accumulation, a stand out—volume wise—has to be Nov 20 bar—1.5 million versus 450k average. Even Jan 14 bar pales in comparison—380k versus 362k average.

Moving on, we need to see heightened activity ahead of the hard fork. Flight from exchanges to hard wallets may be a reason for yesterday’s increasing demand. But if the transition is smooth, volumes may spike and ETH may break above $170. It will be ideal if it is at the back of high volumes—above Dec 24—1.232 million versus 591k.

Conclusion

It’s likely that Constantinople may open doors for ETH and in that case, a rally from the 50 percent Fibonacci retracement level anchored on Dec high low would mean the following ETH/USD trade plan is valid:

Buy: Spot

Stop: $120

Target: $170, $250—Oct 2018 highs

All charts courtesy of Trading View—BitFinex

This is not Financial/Investment Advice. Do your Research.

The post Ethereum Price Analysis: ETH Spearheads Recovery, $250 Realistic appeared first on Ethereum World News.

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Beginning the 13th of January, users of the New Zealand based cryptocurrency exchange of Cryptopia started experiencing technical difficulties with their accounts. The exchange went on to announce via twitter that they were carrying out an unscheduled maintenance to sort out the issue. The initial tweet by Cryptopia can be found below.

We are currently experiencing an unscheduled maintenance, we are working to resume services as soon as possible. We will keep you updated.

— Cryptopia Exchange (@Cryptopia_NZ) January 14, 2019

Tweets of Continual Maintenance by Cryptopia

The exchange went on to tweet two more times that they were still carrying out an unscheduled maintenance. The two tweets can be found below.

Update: We are still experiencing unscheduled maintenance. The next update will be at 8am NZDT (7pm UTC)

— Cryptopia Exchange (@Cryptopia_NZ) January 14, 2019

Update: We are still experiencing unscheduled maintenance. Our team is working hard to resolve this and we will provide an update soon.

— Cryptopia Exchange (@Cryptopia_NZ) January 14, 2019

Visitors of the Cyrptopia website, are also being informed of ongoing maintenance via the following message.

Maintenance

Cryptopia is currently in unscheduled maintenance mode. We will be back soon.

We apologize for any inconvenience this may cause, we are working to resume services as quickly as possible.

Cryptopia Clarifies it was a Security Breach and Investigations are Currently Ongoing

It is with the above background that the exchange has issued one more tweet explaining the crypto exchange had suffered a security breach that resulted in significant losses. The team at Cryptopia also informed its users that they have notified all relevant Government Law Agencies in New Zealand.

According to the tweet, the exchange suffered the attack on the 14th of January. All trading and movement of funds in and out of the exchange, has also been suspended. No additional information has been provided by the exchange at the moment of writing this. A copy of the message provided on twitter by the exchange can be found below.

Cryptocurrency Market Reaction To The Hack

Many keen crypto traders and enthusiasts are curious as to how the crypto markets will handle news of the hack  that was carried out on Cryptopia. One needs to only remember the market after-effects when exchanges were hacked in 2018. News of exchanges being hacked were accompanied by flash selling.

Checking the crypto markets, we find that the total market capitalization is stable at $122.482 Billion with Bitcoin (BTC) trading at $3,673. A majority of the top 100 cryptocurrencies are also in the green and exhibiting moderate gains after the weekend bloodbath.

However, a full 24 hours might be necessary to gauge the effect of the Cryptopia hack on the general feel and mood of the crypto markets.

What are your thoughts on news that Cryptopia has been hacked and significant losses incurred? Please let us know in the comment section below. 

Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of Ethereum World News or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.

The post News Flash: Cryptopia Exchange Hacked, Investigations by New Zealand Authorities Ongoing appeared first on Ethereum World News.

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