Binance Coin rate dropped the most on hacker attack

May 9, 2019

Cryptocurrency assets traded with a slight change in prices at the end of the trading session on Wednesday. Ethereum fell to a level of 169 dollars, and the price of XRP dropped to around 0.3010 dollars. Bitcoin rate has grown by more than 5% in the last 24 hours from $ 5,800 to $ 6,098, confidently overcoming the resistance level of $ 6,000 for the first time in 2019. After hacking Binance, investors expected a new wave of fears, uncertainty and doubt, which should set the short-term tone for the market. But Bitcoin confidently struck an important psychological mark of $ 6000, updating the highs of mid-November last year. The breakdown of this level was accompanied by a surge in trading volumes. During the past month, technical analysts and traders pointed to a possible increase in Bitcoin to $ 6,200 - $ 6,400, which will signal another serious attempt to switch Bitcoin to a bullish mode.

The largest cryptocurrency exchange, Binance, reported yesterday about a hacker attack and a loss of 7,000 Bitcoin, or $ 45 million. 7,074 Bitcoins were stolen, which is 2% of all BTC coins stored in a crypto-exchange. According to representatives of Binance, hackers managed to get hold of a large number of API keys, two-factor authentication codes, and possibly other data using phishing, viruses, and other types of attacks. As a result, hackers managed to gain access only to the “hot” wallet, which held about 2% of the funds. To cover the losses, funds from the fund created in the middle of last year will be used, to which the exchange sends 10% of the total volume of trade commissions. Currently, the exchange is going to conduct a security audit, which can take about a week. During this time, I / O funds will not be available. The attack had a slight effect on the top ten cryptocurrency quotes, and the Binance Coin rate dropped the most.

In the near future, the growth of the benchmark cryptocurrency will be tested for strength, but it is already obvious that market participants are increasingly believing in the future of the project, while pessimists are gradually changing their opinions without resorting to taking profits after minor spikes in growth.

Litecoin developers introduced a new version of Litecoin Core client. Among the main improvements are reduced commissions and advanced privacy settings. Also support of partially signed transactions was implemented for more convenient work with hardware wallets, multi-signatures and CoinJoin transactions. Litecoin has increased in price by 150% since the beginning of 2019, which was the best result among the top cryptocurrencies.

In our forecast for Thursday, we expect Bitcoin prices to fall to the levels of 5900, 5850 and 5800 dollars, Ethereum to the marks of 167, 165, 162 dollars, and XRP to the levels of 0.3000, 0.2975 and 0.2940 dollars.

Cryptocurrency: Bytecoin

Cryptocurrencies grow on the partial cancellation of advertising ban
Cryptocurrencies grow on the partial cancellation of advertising ban

On Friday, the main cryptocurrencies are actively growing, and Bitcoin has risen above $ 6,000 first since November...

Cryptomarket declines after hacker attack on Binance
Cryptomarket declines after hacker attack on Binance

On Wednesday, the main cryptocurrency is declining in price amid reports of a hacker attack on the Binance stock exchange on...

Bitcoin rose to the level of $6000
Bitcoin rose to the level of $6000

The sharp rise in the price of Bitcoin, which almost reached a key resistance level of $ 6,000, continued on Tuesday. Observers are confident that as soon as institutional capital begins...

Ethereum leads the crypto market up
Ethereum leads the crypto market up

Ethereum is supported by rumors about the forthcoming launch of regulated futures on Ethereum. According to market information, the United States Commodity Futures...


Bitcoin overcame $5700 resistance level
Bitcoin overcame $5700 resistance level

The price of Bitcoin has overcome the resistance level of $ 5,700 and reached the mark of 5,770. At the same time, the Bitcoin domination index reached 55%...

XRP drags down cryptocurrency market
XRP drags down cryptocurrency market

The main cryptocurrencies on Monday are slightly decreasing in price against the background of a number of negative news for XRP. In particular, the Central Bank of Singapore...

Tether supported by only 74% dollar reserves
Tether supported by only 74% dollar reserves

The company Tether officially confirmed that stablecoin supported by cash reserves only 74%, and customers deliberately were not informed. At the moment...

Bitcoin beats two-year records
Bitcoin beats two-year records

The main cryptocurrencies are growing moderately, and Bitcoin beats two-year records in terms of trading volume. The rate of Bitcoin per day rose by 0.36%, reaching $ 5320 with a capitalization of $ 95.6 billion...