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The saga of the hacked New Zealand-based cryptocurrency exchange, Cryptopia, doesn’t seem to end. Just a week after the exchange entered the liquidation process, over 30,000 ETH stolen from Cryptopia in January was transferred to an unknown wallet.

As confirmed by WhaleAlert, a tracker of large cryptocurrency-related transactions, the transfer occurred at 01:43:57 UTC on 20 May 2019. The exact amount in question was 30,790 ETH, valued at $7.74 million, at press time.

The Whale Alert tweet read,

“30,790 #ETH (7,740,465 USD) transferred from Cryptopia Hack to unknown wallet”

Based on the transaction details presented by Whale Alert, the from address of 3fbaa73a433daa0f6c43d1c732c3f97a86f3a427 was titled “Cryptopia Hack,” and the receiving address was d96ba527be241c2c31fd66cbb0a9430702906a2a, which has not been confirmed by the site. The hashrate, for the particular transaction, was 16b674afe80107bc3acfe2ee613c8371e0987a36dc0ae51ad3de57458136441b.

Source: Whale Alert

The exchange has not confirmed the incident, as of press time. However, on May 15, Cryptopia had made it clear to its remaining customer base to halt deposits immediately. Their tweet had read,

“PLEASE DO NOT SEND ANY DEPOSITS TO CRYPTOPIA.”

Last week, following queries from distressed customers after the exchange’s unscheduled maintenance halt, Cryptopia announced that it would be entering into a liquidation phase, carried out by Grant Thornton. Officials from the accounting firm confirmed that this process could take months.

Cryptopia’s problems began in January, when the exchange suffered what would be the first of two hacks. The first attack caused a loss of $16 million in ETH. Weeks after the January hack, a second attack took place and cost the exchange $180,000 in Ether. After weeks of confusion, the exchange resumed services in March 2019.

Back in March, a similar quantity of ETH was transferred from aa923cd02364bb8a4c3d6f894178d2e12231655c titled “Cryptopia Hack,” to an unknown wallet, 3fbaa73a433daa0f6c43d1c732c3f97a86f3a427, to the tune of 30,789 ETH, worth $4.28 million at the time.

Interestingly, the address 3fbaa73a433daa0f6c43d1c732c3f97a86f3a427 prior to the recent transaction saw an outgoing transaction of 1 Ether, totaling the March amount.

Source: Etherscan

The post Cryptopia: Stolen Ethereum transferred to unknown wallet days after exchange confirms liquidation appeared first on AMBCrypto.

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Bitcoin [BTC] and the recent $8,000 break-out is massive for the cryptocurrency market going forward. On the back of no major announcement in the past few days, and the pull-back of the previous week, the king coin won its second battle against the price ceiling curating a major high, in the form of an exhibited low.

As the May 19 bulls rampaged the market, buoying the top cryptocurrency to rise by 7 percent in the hour earlier today, a new High-Low [HL] was seen at just below $7,100 which sparked signs for the foundation of a $9,000 break-out. With Bitcoin trading above $8,000 and showing marginal gains off-late, a continued run is foreseen by many in the community.

Given that the king coin edged below the aforementioned price point last week, and dropped quickly to a low of $7,100 during the anticipated “pull-back,” although with compounded reasons pertaining to the post-Consensus bears and the Bitstamp sell order, the recent incline over $8,000 is a positive sign.

CryptoMonk, a Bitcoin and altcoin trader and host of the crypto-monsoon podcast, ironically, attested to Bitcoin’s continued ascent into crypto-spring. He tweeted:

“$BTC has just successfully printed another HL.
It’s a matter of time before we see + $9k.”

The trader supported his statement with a chart depicting the various HLs exhibited by the coin in the past few months. Prior to the HL of $7,100, the previous one was seen just below $7,000 and the one before that was around $5,500 during early May when the FOMO had not set in yet.

Source: Twitter

What is even more surprising, is the fact that there is no real source of Bitcoin’s current 10.16 percent daily gain. Unlike the earlier $8,000 ascendance, which was on the back of several announcements involving Bakkt, Gemini, Microsoft, and Amazon.

Interestingly, the recent price surge mirrored the April incline, as there was no real indicator for the pump. Yes, several signs in the form of an April fool’s joke, China-BTC-mining ban FOMO, and a large automatic buy order were touted as the source, none could be confirmed as the primary push. This April 2 push was the foundation for the successive BTC pumps over $6,000, $7,000 and now $8,000 with $9,000 on the cards.

CryptoMonk did issue a cautionary tone prior to a likely confirmation of a $9,000 breakout. The High High [HH] which stands at $8,260, formed on the back of last week’s pump before the “pull-back,” will act as a resistance of some sort, and if the same is broken, a constant push will, more or less, be a high possibility.

The post Bitcoin [BTC] creates High Low of $7,100 following recent breakout; foundation for $9,000 surge? appeared first on AMBCrypto.

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The much-awaited Game of Thrones series is coming to an end and the true ruler of Westeros is still a debated topic. However, the cryptoverse made things interesting for the GoT fans as it introduced a betting game for the fans to earn the largest cryptocurrency in the world, Bitcoin [BTC].

FreeBitco.in, a Bitcoin [BTC] faucet on its platform hosted this betting game for its registered users to place a bet on their best choice of who would ultimately sit on the iron throne. Among the choices were obvious ones like Jon Snow, Daenerys Targaryen, and Cersei Lannister, but there were also other options like the Stark siblings- Bran, Arya, and Sansa, Tyrion Lannister, Gendry Baratheon, and the Night King. However, an option of ‘Unknown’ was also available for the users to choose.

At the beginning of the season 8, Jon Snow led the betting with 1.532005 BTC, however as the season progressed Jon Snow slipped to the second position, as Bran took to the lead, while ‘Unknown’ settled as the third best option. The pool value of the bet currently rests at 4.97219626 BTC, worth almost $40k. However, the pool has a time multiplier, implying reducing reward shares as time passes.

At press time, 41% of bets were placed under the name of Bran Stark AKA the Three-Eyed Raven, followed by the King in the north AKA Jon Snow with 22%. The bets for an unknown character taking the throne were around 13%, after which Sansa, Tyrion, and Daenerys accounted for 5% each.

As the Game of Thrones comes to an end and the Crypto market cheers for the rising price of BTC, even as the winner of the pool could land themselves with a handsome amount in BTC, as it has already crossed $8k.

The post Game of Thrones ignites barrage of Bitcoin [BTC] bets on who will take the ‘Iron throne’ appeared first on AMBCrypto.

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The cryptocurrency market has seen quite a few scandals and Mt. Gox was among the most infamous of them all. Charlie Shrem, a Bitcoin entrepreneur discussed the story of Mt. Gox with J Maurice, a Bitcoin Miner, on his podcast ‘Untold Stories’.

According to Maurice and Shrem, Mt. GoX acquired almost “70-80% market share of all Bitcoin trading globally” which was quite a large share for one decentralized exchange to have. However, according to Shrem’s lens Mt. Gox was the “largest and most central company to the Bitcoin eco-system”. He also explained how in 2013-14, the largest Bitcoin exchange was an important factor for anyone trading Bitcoin.

However, Mt. Gox faced an unforeseen hindrance when 850k BTC went missing [or stolen] from Bitcoin circulation. According to the Wiz, the days before Mt. Gox shut were “really painful” as people couldn’t trust them anymore.

Shrem highlighted that there were two Bitcoin options available on the exchange at that point; one was the original Bitcoin [BTC] and other was Mt.Gox’s Bitcoin, which “were these fake Bitcoins that you could trade in Mt.Gox’s system”. This led to the formation of a secondary market buying Gox BTC, which was “essentially Bitcoin which couldn’t be removed from Mt.Gox before it imploded”.

However, Shrem claimed that even though Mt.Gox imploded, the market created its own token as debt, even as Bitfinex claimed to have created the first token as debt. Wiz noted that Josh Jones, a creditor at Mt.Gox, created a system to exchange this Mt.Gox BTC for real BTC. Wiz noted:

“Mt.Gox had this feature where you could internally transfer Bitcoins between Mt.Gox accounts and Josh Jones had created this system on top of that so that you can send your balance to his accounts and then that would be your os that will be your Bitcoin builder exchange balance, you would have Gox BTC at that time which you could trade for real BTC.”

The crypto users at the time could trade this Gox BTC for real BTC at a discounted rate and get out of the mess which was left behind following the hack.

The post Charlie Shrem claims Mt.Gox was the first to create ‘token as debt’, not Bitfinex appeared first on AMBCrypto.

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After the recent pullback of Bitcoin, the market was forced to fall drastically, Ethereum saw a steady recovery post the fall. Ethereum ranked number 2 overall and was priced at $259.12, with a market cap of $27.5 billion. The 24-hour trade volume came up to $23.62 billion out of which, BitMEX contributed 13.94% via XBT/USD. ETH saw a price surge of 9.85% in the last 24 hours, at press time.

Tron, ranked eleventh overall was priced at $0.0294, with a market cap of $1.96 billion. The 24-hour trade volume came up to $683 million, out of which, BW.com contributed 8.09% via the TRX/USDT pair. A price surge of 9.64% was seen by TRX in the last 24 hours.

1-Day – ETH

Source: TradingView

The one-day chart of ETH showed an uptrend from $150.8046 to $264.1566. The support points were seen at $84.4047, $104.1055 and $153.1049. The point of correction was seen at $264.7427.

The Chaikin Money Flow indicated that the inflow of capital into the ETH market was more that the outflow.

The MACD indicator showed a bullish crossover.

The Relative Strength Index put the coin in the overbought zone.

1-Day – TRX

Source: TradingView

The one-day chart of TRX showed an uptrend from $0.0132 to $0.0236. The support points stood at $0.0126, $0.0225 and $0.0255. The resistance was seen at $0.0307.

The Parabolic SAR indicated a bullish trend as the dotted markers were under the candles.

The Bollinger Bands indicated volatility in price as the band expanded.

The Relative Strength Index indicated a bullish trend as the graph was closer to the overbought zone.

Conclusion

The one-day charts of ETH and TRX are in a bullish market if the indicators are to be believed.

The post Ethereum [ETH] and Tron [TRX] Price Analysis: ETH and TRX witness steady growth appeared first on AMBCrypto.

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On the back of the most successful week for XRP, the second largest altcoin in the market has broken, what could be equated to the first inkling of the Bitcoin [BTC] bull run. Following Coinbase’s greenlight to its New York customer to engage in XRP trading, the altcoin shattered its 200-day moving average.

Bitcoin, prior to the April 2 ascendance, which was trading at just over $4,000 and on the back of a slew of reasons, broke the $4,623 200-day moving average (at the time) creating an impetus for a prolonged pump. XRP, following the mammoth 41 percent price rise on 14-15 May, has mirrored the king coin’s rise.

The 200-day MA of XRP, which, at press time, stood at $0.352 was shattered at around 0300 UTC on 14 May, where the cryptocurrency saw a massive 25.59 percent daily gain. Continuing to ride the Coinbase bulls, the cryptocurrency added another 12.27 percent daily price rise the following day, ending its slumping streak which persisted for much of 2019.

Interestingly, the XRP price rise could not have come at a more opportunistic time. During the early days of May, when Bitcoin was breaking resistance after resistance, and anchoring an XRP-less altcoin rise, Ripple’s cryptocurrency was in a slump. In fact, the other digital asset that aims to attract an XRP-esque market, Stellar Lumens [XLM] was also in a slump prior to last week’s rise.

On a year-to-date analysis, the two cryptocurrencies jointly referred to as the “Bank Coins,” contrastingly declined by over 12 percent each, as other coins like Litecoin [LTC], Binance Coin [BNB] and even Bitcoin [BTC] saw triple-digit gains. To answer back to their crypto-contemporaries, XRP and XLM were, by far, the highest gainers during the aforementioned period, wiping clear their slumping trends.

Another key indicator for the Bitcoin price rally lasting almost two months now was the realization of the “Golden Cross.” On April 23, the king coin saw its 50-day MA cross-over its 200-day MA as the price rose above $5,350, confirming the coming of the BTC bears, which have since pushed Bitcoin’s price over $8,000.

XRP is on the verge of realizing its very own Golden Cross. Following its May 14 rise and the current green candle-stick, albeit with a major anchoring role played by Bitcoin’s ascendance, the 50-day MA for the altcoin has been broken. If the current trajectory continues, like BTC, XRP could see the 50-day surge above the 200-day and begin a major bullish swing, if Bitcoin’s prices are to go by.

The post XRP closes bullish week breaking 200-day MA; on the doorsteps of the Golden Cross appeared first on AMBCrypto.

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Ripple’s three unique software products, xCurrent, xRapid and RippleNet have propelled significant adoption as well price rise for its native crypto-asset, XRP. The US-based technology firm aims to provide its users with “crypto-banking experience” with the aforementioned products.

In a recent panel discussion, at the Swiss National Bank Conference, Brad Garlinghouse, the CEO of the fintech company, mentioned the products use cases of its trio. Garlinghouse said that among Ripple’s three vital products, xCurrent, the enterprise software solution, “does not touch crypto” and asserted,

“.. X current is just you know kind of Swift 2.0”

The CEO also said that xCurrent is a messaging framework that is “much more efficient in real time” as compared to the fiat to fiat payment settlements in the traditional financial entities.

During the session, he also spoke about the liquidity solution provider for banks, xRapid which was introduced in the fourth quarter of 2018. The CEO explained that the product witnessed significant demand from the financial institutions, which sought to open up new corridors of payments but did not want to create any new nostro-vostro relationships.

Going further, Garlinghouse touched on RippleNet, the blockchain-based banking, and payment network and stated,

“.. the third product is simply an API that allows corporates to do real-time payouts into this network that we call RippleNet”

The CEO is of the opinion that by standardizing on an open source API is the key to efficiency in terms of cross-border remittance. He believes that Ripple has been successful in solving specific problems for specific users and boasts over 200 customers globally under the hood.

Its token, XRP was performing significantly well lately. At press time the coin was up by 8.53% over the last 24-hours and was priced at $0.405  with a market cap of $17.08 billion.

According to the CEO, Ripple’s native crypto-asset and open-source technology, XRP was originally developed by engineers who had witnessed some of the major flaws of Bitcoin and the challenge of scalability surrounding it. Garlinghouse had also termed earlier that XRP is a thousand times better than Bitcoin payment settlements.

The post Ripple’s xCurrent is kind of SWIFT 2.0, says CEO Brad Garlinghouse appeared first on AMBCrypto.

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Opinion: Bitcoin’s rally from April surprised everybody as the price increased by 107% in under 45 days in a bear market. This made a lot of the users believe that it was the start of a bull run. However, a few people in the ecosystem think otherwise and are waiting for the confirmation of the start of the actual bull run.

But why isn’t this a bull run?

Source: TradingView

Bitcoin has risen dramatically, which shouldn’t come as a surprise considering the previous rallies. Usually, there is momentum behind such rallies, and the momentum reduces as time progresses, which leads into a correction phase. If it is a reversal of trend, then the price creates a higher high. In Bitcoin’s case, this hasn’t happened yet and hence a lot of users are waiting for the correction which is a confirmation.

Proceed With a Grain of Salt

History of price action gives an idea of the things to come, but it has to be taken with a grain of salt. The price of Bitcoin has a history of increasing significantly the year leading to halving. The third halving is set to happen on May 23, 2020, which leaves us with a year and a few days.

The chart attached below gives a similar view of the things to expect with Bitcoin’s price in the year 2020. From the charts, it can be clearly seen that Bitcoin was making higher highs and surging a year leading to the halving date.

Source: TradingView

The main focus on the chart is the parabolic move that Bitcoin has performed, not once, but thrice, and this is approximately a year away from the halving. This parabolic move always leads to a sharp correction, proceeded by a bull run, which is a longterm action. Looking at a short-term price movement, the price has undergone a correction of approximately 30%.

If the same is to repeat itself, and the price of Bitcoin corrects itself by 30% it would put the price of Bitcoin in the $5,800 ballpark. Bitcoin started this correction on May 15 but failed midway when a huge sell order was executed on Bitstamp, causing the price to dip by 20% in a few minutes.

The repetitive nature of price pattern is usually attributed to market psychology and the Bitcoin market largely runs on emotions. Moreover, there needs to be a higher low formed to further confirm the change in market trend.

Conclusion? Readers can be cautiously optimistic.

The post Bitcoin [BTC] revisits old highs but history paints a different picture; bull run awaits appeared first on AMBCrypto.

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XRP ranked third in the list of top cryptocurrencies at press time and was priced at $0.405 and held $17.07 billion in market cap. The coin was up by 8.46% and had $2.17 billion in 24-hour trading volume.

XLM was priced at $0.138 and held a market cap of $2.65 billion. The coin was placed ninth in the list of top cryptocurrencies. XLM saw a 6.45% surge over the past 24 hours and had $453.84 million in 24-hour trade volume.

1-Day XRP

XRP resurged and went past the resistance at $0.4619. There was another resistance at $0.579. Support lines stood at $0.406 and $0.302 and XRP saw two downtrends on the chart. The first downtrend was steeper and fell from $0.514 to $0.331 and the second downtrend saw a dive from $0.576 to $0.452.

Source: TradingView

Bollinger Bands displayed high volatility rate in the XRP market. The moving average line was below the candles showcasing a bullish trend.

Awesome Oscillator presented a bullish buying opportunity as the short-term momentum was greater than the long-term momentum.

Chaikin Money Flow revealed that money was flowing into the market.

1-Day XLM

The graph showed a downtrend from $0.207 to $0.142. Three resistance lines stood at $0.205, $0.169 and $0.142 and the three support lines stood at $0.139, $0.114 and $0.870.

Source: TradingView

Bollinger Bands displayed high volatility rate in the market as the bands were diverging. Also, the average moving line was below the candles showing a bullish trend.

Awesome Oscillator revealed that the short-term momentum was greater than the long-term momentum. This indicated a bullish buying opportunity for the buyers in the market.

Chaikin Money Flow indicator showcased that the money inflow was much greater than the money outflow.

Conclusion

XRP and XLM show promising growth and seem to be on a bullish path.

The post XRP vs Stellar Lumens [XLM] Price Analysis: XRP’s resurrection rejoices investors as XLM pushes forward appeared first on AMBCrypto.

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Amid reports of Ripple allegedly misrepresenting the actual amount of XRP in their escrow accounts, the US-based blockchain tech firm continues to be one of the fastest growing networks in the world. Ripple’s CEO Brad Garlinghouse, during a recent session at the Swiss National Bank Conference, claimed that around six percent of SWIFT transactions required human intervention.

He further explained that this, in turn, would add “time and cost” and pointed out that “cost” did not only imply the fees associated with the transactions, but also the “pre-funding” or the cost of capital required for commercial banks which adds up to the drawbacks of the existing legacy financial system.

Garlinghouse said that the current cross-border payment scenario is riddled with issues such as high cost and slow process time. He added that often these “pre-funding” costs were “borne and burdened” by the people who are least able to afford them. He further cited,
“.. instead you can use a digital asset to have global liquidity on demand now we build upon a tech stack of an open-source technology called XRP”
Taking the opportunity, he praised Ripple’s native digital coin and stated that XRP was cheaper and faster on a “per transaction basis” than Bitcoin [BTC] by a “thousand times”.
According to Garlinghouse, global payments today “have not caught up with the age of the Internet”. He also said that Blockchain technology had the ability to change the existing payment settlement dynamic by removing the need for a “central counterparty” because of its unique ability to “transact without the need for trust”.

Speaking on the subject of interoperability, Garlinghouse termed it an important factor while scaling the cross-border remittance issue. He stated:

“We’re trying to solve a problem, selling technologies to banks and financial institutions to solve a cross-border payments problem.”

The CEO clarified that the company has not focused on the Central Bank Digital Currency [CBDC] issuance and emphasized on the need for interoperability globally. Garlinghouse argued that “even in a world of CBBC’s”, interoperability was needed in order to solve the cross-border transaction dealings issue.
Garlinghouse had earlier dismissed JP Morgan’s in-house stablecoin dubbed “JPM Coin” stating “lack of interoperability” as the reason.

The post Ripple CEO Brad Garlinghouse claims 6% of SWIFT transactions require human intervention appeared first on AMBCrypto.

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