#1 Source For Bitcoin And Altcoin News
Bithumb, South Korea’s largest crypto exchange announced on its website that between Tuesday evening and Wednesday morning, Korean time, 35 billion won (about 31.5 million USD) worth of cryptocurrencies vanished. Just a few hours later, the announcement was taken down, along with promises of compensation. At press time, it appears Twitter announcements of the heist remain published without explanation.
Also read: Bithumb to Lower Withdrawal Limit for Crypto Traders Not Using Real-Name System
Various European nations are showing increasing interest in cryptocurrency. This is especially apparent where altcoin mining is concerned. It is a pretty interesting trend, especially when considering that Kosovo is getting involved. It’s a positive turn of events for this plagued European country, although it remains to be seen how things will evolve.
Similar to some other Eastern European countries, Kosovo is home to a growing job shortage. While such a trend isn’t exactly surprising in light of the 2008 financial crisis, it is evident this issue will need to be addressed. That is easier said than done where Eastern Europe is concerned. Even so, it seems some people are definitely taking the right steps in this regard.
In the world of Bitcoin and cryptocurrency, no individual or company is safe from hacks. This is especially true where wallet providers and trading platforms are concerned. CoinRail, a small exchange based in South Korea, was hacked this weekend. It should have no impact on the markets, as this platform generates barely any volume.
While it is always unfortunate when a cryptocurrency exchange deals with a hacking attempt, most of these developments pertain to medium-sized and smaller exchanges. In the latter case, there will be no noteworthy impact on the Bitcoin price whatsoever, as smaller platforms mainly focus on trading altcoins and ERC20 tokens, which are of little interest to begin with.
It is one of those days again where no cryptocurrency market momentum seems to make sense. All markets are in the dirt once again for no apparent reason, with the IOTA price losing a lot of value in the past 24 hours. With a 145% setback in the past 24 hours, it is evident there will be a lot more blood in the water by the time this day is over.
A local cryptocurrency exchange in Chile has reportedly filed a lawsuit against six major banks in the country for abusing their power and quashing its crypto payment business. This lawsuit follows another one filed in Chile against ten banks by a different crypto exchange.
Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space
Chilean cryptocurrency exchange Orionx filed a lawsuit with the country’s Court for the Defense of Free Competition (TDLC) against six major banks in the country last week, according to Diario Financiero. The six banks are Bancoestado, Banco de Chile, Banco Bice, Itaú Corpbanca, Santander, and Scotiabank.
The BTC markets are currently testing two major trendlines comprising a major symmetrical triangle. As of this writing, bitcoin appears to be following a major ascending trendline that dates back to mid-2017, whilst simultaneously testing a descending trendline that runs from December’s all-time high of nearly $ 20,000 USD to the local high of approximately $ 10,000. Many traders are expecting that the resolution of the triangle will determine the direction of the next significant move in the BTC markets.
Also Read: Data Prediction Sites Show More Conservative Cryptocurrency Price Forecasts
There appears to be a lot of confusion regarding the Waves project. A new document is circulating on the internet indicating that the firm behind Waves needs to renew its registration. Failure to do so may result in the company being struck off the UK register and dissolved.
Although the document in question seems to indicate that something is amiss with the Waves project, that is not necessarily the case. All this document states is that the Waves parent company must renew its registration with the UK government within the next two months. Failure to do so will result in Waves Platform Ltd. being removed from the Companies House register and dissolved.
Weiss Ratings, a private company which provides research and analysis for consumers and business professionals, has released its list of 93 cryptocurrency ratings for free this week — with Bitcoin (BTC), Cardano (ADA), EOS (EOS), Ethereum (ETH), Ripple (XRP), Stellar (XLM), and TRON (TRX) coming out on top.
Weiss Ratings, the only financial rating agency currently offering cryptocurrency reviews, has released its full list of 93 coins and tokens to the public for free – this week only. Access to the list is usually reserved exclusively for paid subscribers.
A surprising trend is taking place in the world of cryptocurrency right now. After multiple days of major setbacks, it now appears the situation is slowly improving. The Cardano price, for example, has suddenly increased by 7.5% over the past 24 hours. A very surprising turn of events, although a welcome sight for sore eyes.
Given all of the negative momentum affected all cryptocurrency markets throughout 2018, any uptrend is considered to be an anomaly these days. It is evident things are not heading in the direction most people would like it to, albeit the current 24-hour trend shows some signs of a short-term promise. If the Cardano price surge is any indication, the situation will undoubtedly get pretty interesting moving forward.
Bitcoin and the cryptocurrency space has struggled after the recent Consensus event in NYC failed to boost the price, unlike the past few years. Nevertheless, there are still a few noteworthy events worth keeping an eye on, particularly for some altcoins.
The Upcoming Week
This week has many exciting deadlines that are rapidly approaching. Two cryptocurrencies that have made exceptional noise while entering the scene have been EOS and ONT. They both have mainnet launches in the next seven days. Mainnet launches are telltale signs regarding the future of the cryptocurrency. Any delays could be absolutely detrimental while a strong showing of timeliness can lead to market support leading to a bull rally. Both ONT and EOS should be a major focus this week as their future could easily be dictated in the coming days.
