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Bullish market trend

May 8, 2019

There have been no significant changes in the overall dynamics of BTC trading. General sentiment remains moderately optimistic, although only TRON (TRX) has shown a weak profit over the past 24 hours. The remaining 12 of 13 cryptocurrencies, with a capitalization of more than $1 billion, lose in value after rising in previous days. One of the reasons for weakening the main cryptocurrencies was the information about the hacking of the Binance cryptocurrency exchange.

The best result over the last seven days is demonstrated by BTC, taking profits over 9%.

Binance is still in the spotlight

Just last week, everyone was discussing a lawsuit against the Binance cryptocurrency exchange, and now a hacker attack on the same platform. The attackers managed to seize 7000 BTC. According to representatives of Binance, on May 7 was discovered a “large scale security breach”.  At that moment, the possibility of input/output was suspended for all assets represented on the platform.

Deposit/withdrawal of funds will be stopped while running a comprehensive security audit. According to representatives of the exchange, it can last about a week. However, all these restrictions will not affect active users, as trading will continue in normal mode.

According to Binance, the hackers had used various techniques including “phishing, viruses and other attacks” to obtain “a large number of user API keys, 2FA codes, and potentially other info”.

According to CoinMarketCap, 10 top cryptocurrencies by capitalization ended in the red zone on Tuesday, May 7. Binance Coin turned out to be the most sensitive, but the demand at the psychological support level of 20.00 remains steady, keeping the coin from a more powerful decline.

Security and control

The US Federal Bureau of Investigation (FBI), together with Europol, conducted a special operation to detain suspects in the management of the Dark Dot Web news resource. At the moment, this resource is blocked with a notice that the FBI closed it.

Such international operations had previously been carried out with the confiscation of the Wall Street Market server as well as the arrest of its alleged operators – three German citizens.

This case was related to the fight against the illegal use of cryptocurrencies to trade in prohibited goods (drugs and others).

Public test Ethereum 2.0

Preston Van Loon, the developer of the startup Prysmatic Labs, announced the release of a public test network called Sapphire, which uses the zero phase rules of the Ethereum 2.0 protocol.

This test will be only a simulation because a large number of functions are either limited or simplified. However, Van Loon calls on all users to take part in this test, saying that it is critically essential for taking technology to a new level.

Unlike the main network Ethereum 1.0, where customers such as Parity and Geth are available to users, the Sapphire test network is supported only by the Prysm client. The most interesting feature of Sapphire is the possibility of stacking ETH test tokens by the Casper Proof-of-Stake method. Users are invited to transfer ETH from the Goerli test network to a new network to try themselves as validators. For their actions, they will be able to receive rewards and fines, as in real conditions.

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