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Most Cryptocurrencies Trade Lower Following $40 Million Hack of Binance

May 08, 2019

 

 
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High Machine Learning Accuracy Rates for CryptocurrenciesHigh Machine Learning Accuracy Rates for Cryptocurrencies

Top 5 Cryptocurrencies sorted by 24 hour Volume

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Name Ticker Price 1H %Chg 24H %Chg 7D %Chg Market Cap Volume
Bitcoin BTC USD$5930.43 -0.12% 0.33% 10.08% USD$104,907,280,545 USD$15,203,654,214
Ethereum ETH USD$169.16 -0.1% -2.03% 5.31% USD$17,928,763,849 USD$6,336,038,007
Litecoin LTC USD$74.28 0.21% -1.49% 1.29% USD$4,581,864,687 USD$2,425,503,917
EOS EOS USD$4.87 0.05% -0.39% 2.35% USD$4,437,187,464 USD$1,653,424,339
Bitcoin Cash BCH USD$284.49 0.06% -1.14% 5.5% USD$5,055,798,869 USD$1,462,744,990

Top 5 Cryptocurrencies sorted by 24 hour Price Percent Change

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Name Ticker Price 1H %Chg 24H %Chg 7D %Chg Market Cap Volume
TRON TRX USD$0.02 -0.46% 2.09% 4.46% USD$1,647,983,228 USD$793,044,065
Monero XMR USD$66.83 -0.07% 0.8% 4.23% USD$1,133,963,413 USD$38,244,072
Qtum QTUM USD$2.43 0.1% 0.34% -0.67% USD$232,576,817 USD$140,379,765
Bitcoin BTC USD$5930.43 -0.12% 0.33% 10.08% USD$104,907,280,545 USD$15,203,654,214
VeChain VET USD$0.01 0.02% 0.18% -3.63% USD$347,518,806 USD$11,882,652

 

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Crypto Market Recap

  • Cryptocurrencies are trading broadly in the red with some specs of green as the price of Bitcoin (BTC) is higher by 38 basis points over the last 24 hours to $5,932.82. BTC is the only top 10 cryptocurrency by market capitalization in the green this afternoon while 5 of the top 20 coins by market capitalization are in the green. Among major coins, Cosmos (ATOM) is down by the most today, falling 8.46% over the last 24 hours to $4.33. Bitcoin SV (BSV) is up the most among major coins today, rallying 7.06% over the last 24 hours to $57.14.

Crypto Developments in Financial Services

  • Binance, one of the world’s largest cryptocurrency exchanges by daily trading volume, experienced a security breach on Tuesday that resulted in the theft of 7,000 Bitcoin (BTC), worth roughly $40,705,000 at the time. The BTC stolen were being held in Binance’s hot wallets, where the major exchange keeps no more than 2% of its total holdings at any given time. According to CEO Changpeng Zhao, the hackers did not gain access to any other Binance wallet.  
  • Fidelity, the US-based investment management giant that manages more than $7 trillion, will launch Bitcoin (BTC) trading for institutional clients within the next couple of weeks, according to a report by Bloomberg. The report, which cites an anonymous source, explains that Fidelity Digital Assets will soon expand on the custody service it began to offer after its launch in October. The BTC trading service will likely target large-volume traders, like other over-the-counter trading product counterparts.  
  • Facebook, a social media giant, may be seeking investments worth a total of $1 billion for a rumored crypto stablecoin, according to a report by the Wall Street Journal. In citing people familiar with the matter, the report discusses preliminary talks between Facebook and major payment networks like Visa and MasterCard regarding support for the stablecoin. Many have speculated that the stablecoin, dubbed FB Coin, could serve as a way for Facebook to pay users in-house.  
  • Bitfinex, a major cryptocurrency exchange that has faced significant controversy related to its Tether (USDT) stablecoin of late, has confirmed in a whitepaper published today that it will conduct a what it calls an initial exchange offering (IEO) worth $1 billion. The IEO would see Bitfinex sell up to 1 billion LEO tokens, worth 1 USDT each, to private investors until May 11th, after which the public phase of the token sale begins.

General Crypto News

  • Social media giant Facebook.com has revised its advertising policy to allow ads related to blockchain technology, industry news, and events or education materials related to cryptocurrencies to be displayed without prior approval. This follows a policy implemented by Facebook about a year ago which required ads related to cryptos and/or blockchain to receive prior approval before they are posted. The reason for the policy’s existence was to prevent unsuspecting Facebook users from falling prey to malicious ads and scams.

 

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*Data in Price Return and Updated Real-Time (with a delay), Source: StockDio

Sources:

https://coin360.io/  
https://coinmarketcap.com/  
https://cointelegraph.com/news/binance-ceo-addresses-concerns-live-after-40-mln-btc-hack-rejects-blockchain-reorg-idea 
https://cointelegraph.com/news/bitfinex-confirms-initial-exchange-offering-to-raise-up-to-1-billion-in-tether 
https://cointelegraph.com/news/bitfinex-official-doc-confirms-plans-to-raise-up-to-1-billion-in-ieo-for-its-token-leo 
https://cointelegraph.com/news/bloomberg-report-fidelity-will-start-institutional-bitcoin-trading-within-weeks 
https://cointelegraph.com/news/facebook-revises-ad-policy-on-blockchain-ads-crypto-related-materials  
https://cointelegraph.com/news/hackers-withdraw-7-000-bitcoins-in-binance-crypto-exchange-security-breach 
https://cointelegraph.com/news/tim-draper-to-meet-with-facebook-to-discuss-investing-in-rumored-fb-coin  
https://cointelegraph.com/news/wsj-facebook-seeks-reported-1-billion-for-fb-coin-amid-talks-with-visa-mastercard 
https://www.bitfinex.com/wp-2019-05.pdf 
https://www.blockchain.com/btc/tx/e8b406091959700dbffcff30a60b190133721e5c39e89bb5fe23c5a554ab05ea 
https://www.bloomberg.com/tosv2.html?vid=&uuid=9acd23c0-6fe5-11e9-9052-c7f7b2879ea4&url=L25ld3MvYXJ0aWNsZXMvMjAxOS0wNS0wNi9maWRlbGl0eS1zYWlkLXRvLW9mZmVyLWNyeXB0b2N1cnJlbmN5LXRyYWRpbmctd2l0aGluLWEtZmV3LXdlZWtzP3NybmQ9Y3J5cHRvY3VycmVuY2llcw== 
https://www.coindesk.com/binance-may-consider-bitcoin-rollback-following-40-million-hack 
https://www.coindesk.com/hackers-steal-40-7-million-in-bitcoin-from-crypto-exchange-binance 
https://www.facebook.com/business/news/updating-our-ad-policies-for-financial-services-and-products/ 
https://www.wsj.com/articles/facebook-building-cryptocurrency-based-payments-system-11556837547

 

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