Bitpoint Hacked for $32 Million, Another Example of Crypto’s Volatility

3 days 8 hours ago

A Tokyo-based cryptocurrency exchange called Bitpoint has suspended operations after it lost $32 million to a hacking last night.

The company that runs the exchange, Remixpoint, discovered that ¥3.5 billion worth of various digital currencies had disappeared under its management.

Bitpoint Hacked and Suspends Operations

According to the exchange, the funds went missing from a hot wallet (a wallet connected to the internet), but other funds held in cold wallets or offline haven’t been affected. The hacking was brought to light when an error appeared in the exchange’s outgoing funds transfer system.

...

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Maria Ohle

Ripple (XRP) Slips Below $0.34 Mark as Selling Intensifies

3 days 8 hours ago

Ripple (XRP) has been very volatile since the beginning of this week. After showing positive price movement on Monday, Ripple has been correcting since Tuesday and has slumped 20% since then. At the time of writing, XRP is trading lower by 5% at $0.3310.

Key Supports & Resistances

If the digital asset maintains the declining momentum and panic continues to make people sell, then XRP prices will dip massively and close below $0.34, which will invalidate prior XRP/USD trade plans. Currently, prices have gotten back to consolidation in the $0.15 range with caps at $0.50. On ...

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Ankit Singhania

Stellar (XLM) Outperforms After the Fall Earlier This Week

3 days 9 hours ago

Stellar (XLM) is outperforming the broader crypto market on the technical rebound.

The world of cryptocurrencies can often prove to be a bit of wild ride sometimes, and it is especially so after the sort of week that has been unleashed on the crypto sphere. Many of the top cryptocurrencies declined yesterday after the comments from the head of the Federal Reserve Jerome Powell about Facebook’s Libra.

Stellar Outperforms

During the bloodbath yesterday, Stellar (XLM) dropped just like many other tokens, and at one point went down by as much as 14%. However, Stellar ...

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Ankit Singhania

Bitcoin (BTC) Takes a Hit: Trump Targets the Crypto Market

3 days 9 hours ago

The cryptocurrency space may have been having a great time this year so far as Bitcoin started on one of its strongest bull runs since 2017 and other crypto tokens gained as well. However, it needs to be kept in mind that there are a lot of things that can disrupt the crypto space and perhaps the biggest disruption was Facebook’s recent announcement that it was going to launch its own cryptocurrency. While that was a disruptive development on its own, nothing perhaps readied the crypto sphere for an attack from the United States President.

Donald Trump ...

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Ankit Singhania

BitTorrent Token (BTT) to Power Expedited File Sharing on TRON Network

4 days 7 hours ago

BitTorrent Token (BTT) has taken a significant hit in recent weeks after hitting peak levels in May. While a crash to new lows against Bitcoin (BTC) is a point of concern, the software company behind the token is already looking into the future.

BitTorrent Speed

The TRON subsidiary has launched BitTorrent Speed, a new crypto powered approach designed to enhance peer-to-peer file sharing. The speedy software seeks to scale up upload and download speeds within the TRON network.

Millions of users stand to enjoy fast and uninterrupted access to files on the network with ...

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Ankit Singhania

Litecoin (LTC) and Bitcoin Cash (BCH) Tumble on Massive Crypto Sell-Off

4 days 9 hours ago

As the broader crypto markets are witnessing a big correction, two popular cryptocurrencies Litecoin (LTC) and Bitcoin Cash (BCH) are among the top losers.

Litecoin Cracks

This has been an excellent year for Bitcoin and cryptocurrencies by and large, due to the incredible bull run that has been seen this year so far. Due to the surge in the price of Bitcoin over the past months, altcoins have also gained considerably, but one of the altcoins that has not had a great time as of late is Litecoin. However, that could change next month, if the ...

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Ankit Singhania

Bitcoin (BTC) Finds the Hurdle Again, Plunges 12% Quickly

4 days 10 hours ago

Bitcoin (BTC) has been in the middle of a rollicking bull run for 2019 so far, and the virtual currency has managed to touch levels that would not have been thought possible last year. However, the announcement from Facebook about the launch of its own cryptocurrency Libra proved to be a new disruption of sorts in the cryptocurrency space.

While many thought that Libra was going to end up as the major competitor against many digital currencies currently in existence, it now seems that it could be in a bit of trouble with the relevant regulators. ...

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Ankit Singhania

TRON’s CEO Debunks Association with Billion Dollar Ponzi Scheme Scam

5 days 9 hours ago

While responding to an allegation that Tronfoundation and BitTorrent are involved in a billion-dollar Ponzi-scheme scam that defrauded thousands of investors in China, Justin Sun, TRON’s CEO, says both companies are “fine.” According to the CEO, preparations were being made to launch BitTorrentSpeed on July 8, so people should stop publicizing fake news and pictures.

.@Tronfoundation and @BitTorrent is fine. Everything is fine. We are preparing for #BitTorrentSpeed launch today. Stop spreading fake news and pictures.

— Justin Sun (@justinsuntron) July 8, 2019

Justin Sun Says Tronfoundation and BitTorrent are Fine ...

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Jide Idowu

Crypto News Today: Poloniex Now Accepts Cards, Will Gemini Join Libra?

5 days 9 hours ago

The cryptocurrency sphere is bustling today. Crypto news regarding Poloniex is causing a stir. The exchange will now accepts credit cards and bank accounts. Elsewhere, prominent crypto-advocates the Winklevoss twins, along with their Gemini exchange, might be buddying up with Facebook’s Libra.

Let’s check this out.

Crypto News Making Moves

Major cryptocurrency exchange Poloniex has announced that customers can now use credit cards and bank accounts on the platform. It announced the move in a Medium post published yesterday.

The release states that users from over 80 countries can now move funds ...

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Maria Ohle

Facebook’s Digital Coin Libra Faces Extreme Criticism

5 days 9 hours ago

Libra, Facebook’s cryptocurrency to be launched as a payment service provider, requires close examination. According to a senior official at Britain’s financial watchdog, this new coin project requires deep scrutiny as it raises questions both on social and legal grounds. Facebook unveiled its Libra digital coin last month as a platform that will let one buy things or send money to people with nearly zero fees.

Regulators Have Doubts About Libra

One would pseudonymously buy or cash out their Libra online or at local exchange points like grocery stores. However, soon after its announcement, Libra raised ...

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Ankit Singhania

Blockchain Supply Market to Grow to $9 Billion: Allied Markey Research

5 days 10 hours ago

Blockchain supply is poised to become a multi-billion dollar market. A study by market research firm Allied Markey Research indicates the size of the market could reach highs of $9 billion by 2025, representing an 80% growth from 2018 levels.

Key Growth Drivers

Blockchain is the underlying technology that powers an array of decentralized digital assets, key among them being Bitcoin and other cryptocurrencies. Increased usage of the technology to enhance transparency and improved security in supply chains is one of the catalysts fuelling the blockchain supply market.

The retail sector, which is in ...

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Ankit Singhania

Altcoins Join the Bitcoin Rally: Ethereum, Litecoin, Ripple

5 days 10 hours ago

Bitcoin (BTC) has been on an astonishing run this year that has almost mirrored the astonishing rally back in 2017 when the cryptocurrency touched almost $20,000 per token. However, earlier on in July, the cryptocurrency experienced declines and went below the $10,000 level.

Altcoins Moving Up

However, that seems to be a thing of the past now as the coin has regained its gains and is soaring again on the back of excellent momentum. In addition to that, due to the surge experienced by Bitcoin, other cryptocurrencies like Ethereum (ETH), Litecoin (LTC), and Ripple (XRP) have ...

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Ankit Singhania

BrewDog Extends Its Crypto Investment Opportunity “Equity for Punks”

6 days 8 hours ago

The Scottish craft beer company BrewDog has announced it will be extending its groundbreaking cryptocurrency investment program “Equity for Punks” until April next year.

The program, which was originally intended to end on July 5 this year, allows investors to buy BrewDog shares using a variety of cryptocurrencies. These include Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC), Bitcoin Cash (BCH), OmiseGo (OMG), QTUM, 0x, and Bitcoin SV (BSV).

BrewDog is a multinational brewery and pub owner founded in 2007 with pubs in over 50 locations throughout the United Kingdom and 24 locations internationally. ...

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Aubrey Hansen

GBTC Makes Massive Move Thanks to Crypto Bull Market

6 days 8 hours ago

The GBTC (Grayscale Bitcoin Trust) has made a massive move this year with a gain of 250% and outperformed all other assets classes.

Over the past few years, Bitcoin has become one of the most intriguing investment opportunities for thousands of people across the world, and it is only natural, considering the sort of highs the cryptocurrency has reached in recent years. However, as everyone knows, Bitcoin and cryptocurrencies at large can be extremely volatile in nature, which is why even interested investors sometimes stay away from it.

That being said, it is now ...

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Ankit Singhania

China’s Cryptocurrency: A Response to Facebook’s Libra Coin?

6 days 8 hours ago

In response to Facebook’s new cryptocurrency, Libra, China’s central bank is reportedly developing its own cryptocurrency.

According to the South China Morning Post, Libra poses a threat to the country’s financial system, and this has spurred on the development of the bank’s own digital coin.

China’s Cryptocurrency

At an event at Peking University’s Institute of Digital Finance yesterday, the director of the People’s Bank of China (PBoC) research bureau, Wang Xin, argued that if Libra effectively functions like money, then it will likely have a huge influence on “monetary policy, financial stability, and the ...

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Maria Ohle

Does Bitcoin Breakout Signal More Rallies to Come Later this Year?

6 days 9 hours ago

When Bitcoin (BTC) went through a disappointing year in 2018, following the astonishing bull run at the end of 2017, many experts all over the world had written off the cryptocurrency. However, in 2019, the coin has come roaring back and went on another incredible bull run that has raised visions of a rally that could be similar, if not better, than the one that took place in 2017.

In 2019 alone, Bitcoin has gained as much as 240%, and there is a belief among crypto experts that it could climb further for the rest of ...

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Ankit Singhania

Ripple Receives Boost with ECB Change in Leadership

6 days 9 hours ago

There is good news for the blockchain industry, especially Ripple (XRP), following the leadership change at ECB. Mario Draghi is leaving as the head of ECB, and he is being replaced by IMF Managing Director Christine Lagarde.

Change in ECB Leadership Good News for Ripple

Christine Lagarde taking over spells good times for blockchain as a growing and disrupting technology because her tenure is expected to be supportive of the industry.  Besides being among those top leaders who have openly endorsed blockchain and cryptocurrency, Lagarde is specifically focused on Ripple and its associated products.

...

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Ankit Singhania

Monero (XMR) Jumps 6% On New Exchange Listing Hopes

1 week ago

Back in 2017 when the crypto sphere was in the middle of one of the biggest bull runs ever seen, Monero (XMR) had emerged as one of the more interesting coins, and the price surged significantly at the time.

However, over time, the coin lost its shine somewhat as more and more exchanges got suspicious about the fact that the coin was anonymous in nature. Eventually, the coin was delisted from many exchanges, most of which were in Japan, one of the most advanced cryptocurrency ecosystems in the world, and the price of Monero started dropping. ...

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Ankit Singhania

Bitcoin Price: Short Sellers Surprised as Bitcoin Surges Another 4.5%

1 week ago

Those who betted that Bitcoin’s bull run was over were hit with a surprise today. According to Reddit, over $44 million USD was lost on BitMEX due to short sellers betting on a Bitcoin price decline.

The largest digital asset by market cap surprised investors with another climb up the charts. At 10 am UTC, Bitcoin surged 4.4% and almost breached the $12k mark on CoinMarketCap.

Bitcoin Price Surges 4%

Bitcoin is currently selling for $11,862 USD on CoinMarketCap; however, Cointelegraph reports:

“On major exchanges, USD spreads meant bitcoin was yet to ...

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Maria Ohle

Chainlink (LINK) Continues to Get Attention, What Next?

1 week ago

During the course of the incredible crypto bull run that has been experienced this year so far, many coins have managed to make a mark for themselves, but one of those that has remained under the radar is the token Chainlink (LINK). Over the past 30 days, it has been among the best performing tokens among altcoins and has managed to outperform peers like Ethereum Classic (ETC) handsomely.

Notable Gains

At the time of writing, the coin is trading higher by as much as 2% and hit $3.46 on most exchanges. However, it is interesting to ...

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Ankit Singhania