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The cryptocurrency market stuck with negative trends

Feb 7, 2019

New hype on the market

BitTorrent (BTT) shows strong growth. For 10 days, the price of BTT has grown almost 10 times. We highlight that during the token sale were sold 59.4 billion BTT as part of two campaigns that ended in 18 minutes on January 28, 2019. Attracted investments amounted to 7.2 million dollars.

According to the Launchpad platform from the Binance Bitcoin Exchange, the starting price of the token was $ 0.00012. As reported by CoinMarketCap, the trading volume in the last 24 hours reached $ 590 million. The price reached $0.0012, but at the time of writing the review, the price corrected to the level of $0.00095.

Even though ICO of BTT happened not so long ago, the coin is being traded on the largest cryptocurrency exchanges Binance, UPbit, OKEx, and several others.

Death of QuadrigaCX CEO confirmed

Indian authorities confirmed the death of Gerald Cotten, the founder of the QuadrigaCX Canadian Bitcoin Exchange. According to Bloomberg, he made a will 12 days before his own death. He took with him access to $145 million in cryptocurrency, which are stored in the cold storage of the exchange.

As expected, the court released QuadrigaCX for 30 days from creditors prosecution. As stated in published documents, the number of creditors is near 92 000. Cotten was the only head of the exchange and preferred to be independently responsible for the safety of its multi-million assets. Сotten’s widow, Jennifer Robertson, reported that the experts had “limited success” in trying to gain access to data encrypted in the computer and mobile phone, which could help in returning funds to users.

Another Ethereum vulnerability

Surprisingly, the cryptocurrency market remains fairly stable, despite the very large amount of negative news. One of such news was the message of experts from the blockchain startup Parity Technologies, which discovered a vulnerability in the JSONRPC protocol. This vulnerability is very severe, as it threatens the security of the entire Ethereum ecosystem. As a result, MyEtherWallet, MyCrypto, and Infura are in danger of hacking.

This information is a strong bearish fundamental factor for ETH. Therefore, there is a risk of further price reductions of ETH price in the short and medium term.

Zcash Company Fixes Vulnerability

Zcash developers reported the elimination of critical vulnerabilities in 2018. This vulnerability was discovered on March 1, 2018. It was reported about a year after discovery.  It was eliminated in October, while the Zcash Sapling protocol was updated.

This vulnerability was solely related to the creation of non-existent coins and did not affect the privacy of users. The report stresses that there were numerous checks conducted by experts, scientists, third-party auditors and third-party development teams that launched new projects based on Zcash. However, they could not be detected any vulnerability.

Although there was no general disclosure, Zcash Company notified of this vulnerability teams using the zk-SNARKS protocol, including Horizen and Komodo.

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