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Winter is coming! The cryptocurrency market is becoming harsh

Jan 30, 2019

After active sales at the end of last week and on the first day of the current week, the activity of sellers significantly decreased. Remarkable is the fact that there are more billionaires.

CoinMarketCap indicates more than 3% increase in Cardano price (ADA) over the last 24 hours. ADA exceeded the $1 billion level, allowing this cryptocurrency to return to the list of billionaires by capitalization. Moreover, there has been the moderate growth of all the top 15 cryptocurrencies by capitalization over the last 24 hours.

Cryptopia no longer has its own private keys

Analysts from Elementus came to this opinion after re-evaluating the damage caused by the hacker attack on Cryptopia. We highlight that earlier the Elementus experts reported stealing of cryptocurrency from this exchange in the amount of $16 million. Hackers continue to withdraw funds from the purses of the exchange, from some of them repeatedly. According to the new report, the attackers withdrew another 1,675 ETH from more than 17 thousand wallets. Almost 2,000 wallets have previously been designated as vulnerable.

These hackers previously attacked 5240 wallets, but wallets were replenished again, which allowed hackers to repeat the attack.

Elementus analysts note that Cryptopia employees no longer control the private keys of Ethereum wallets. Since hackers control private keys, it is not recommended to transfer any funds to the cryptocurrency exchange wallets.

The activity of hackers remains quite high. This leads to the fact that the reliability of many exchanges and mining pools is not very high. Therefore, the investment attractiveness of the cryptocurrency market is declining, which bring about a decrease in the prices of the TOP cryptocurrency.

“Difficulty Bomb” reduced the emission of ETH by 25%

The volume of ETH daily emission decreased from approximately 20 thousand to 15 thousand. At the same time, emission decreases by 2000 ETH almost every two weeks due to an increase in the block production time. This trend takes place due to the increasing complexity of mining ETH. This problem should solve Constantinople’s hard fork, the activation of which is scheduled for February 27.

Given the delay of Constantinople activation, the next date may be postponed as well. Therefore, without manual intervention, which is provided in the hard fork, the complexity of mining will continue to increase, reducing its feasibility.

BitTorrent Tokens Crowdsale on Binance could take only 18 seconds

The first large ICO on TRON didn’t take place without technical failures. All technical problems were caused by high demand. Over 18 minutes, BitTorrent tokens (BTT) were sold for more than $ 7 million. The campaign was carried out in two stages: the first lasted 13 minutes and 25 seconds, the second – 14 minutes, 41 seconds only. Changpeng Zhao, the CEO of Binance, said that both sessions ended in 18 minutes. Moreover, if there had been no technical problems, crowdsale of the BitTorrent (BTT) tokens would not have lasted longer than 18 seconds.

This ICO ended up with a large number of failed investors, as demand significantly exceeded supply. It is evident, that is a high-quality product. Therefore, the appearance of excellent products will attract investors. Blockchain technologies continue to evolve, even despite the slump of the market in 2018.

BlockFi, the cryptocurrency company, also continues to attract investments. In December, the company issued convertible bonds and raised another $4 million from Akuna Capital, Galaxy Digital Ventures, Morgan Creek Digital, Susquehanna Government Product and Devonshire Investors. As it was found out, BlockFi attracted investments from Coinbase Ventures, but the exact amount is not known.

This news confirms the fact that investors are still interested in blockchain and cryptocurrency projects, despite the very high risk.

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