Cryptopia: Stolen Ethereum transferred to unknown wallet days after exchange confirms liquidation

The saga of the hacked New Zealand-based cryptocurrency exchange, Cryptopia, doesn’t seem to end. Just a week after the exchange entered the liquidation process, over 30,000 ETH stolen from Cryptopia in January was transferred to an unknown wallet.
As confirmed by WhaleAlert, a tracker of large cryptocurrency-related transactions, the transfer occurred at 01:43:57 UTC on 20 May 2019. The exact amount in question was 30,790 ETH, valued at $7.74 million, at press time.
The Whale Alert tweet read,
“30,790 #ETH (7,740,465 USD) transferred from Cryptopia Hack to unknown wallet”
Based on the transaction details presented by Whale Alert, the from address of 3fbaa73a433daa0f6c43d1c732c3f97a86f3a427 was titled “Cryptopia Hack,” and the receiving address was d96ba527be241c2c31fd66cbb0a9430702906a2a, which has not been confirmed by the site. The hashrate, for the particular transaction, was 16b674afe80107bc3acfe2ee613c8371e0987a36dc0ae51ad3de57458136441b.
Source: Whale Alert
The exchange has not confirmed the incident, as of press time. However, on May 15, Cryptopia had made it clear to its remaining customer base to halt deposits immediately. Their tweet had read,
“PLEASE DO NOT SEND ANY DEPOSITS TO CRYPTOPIA.”
Last week, following queries from distressed customers after the exchange’s unscheduled maintenance halt, Cryptopia announced that it would be entering into a liquidation phase, carried out by Grant Thornton. Officials from the accounting firm confirmed that this process could take months.
Cryptopia’s problems began in January, when the exchange suffered what would be the first of two hacks. The first attack caused a loss of $16 million in ETH. Weeks after the January hack, a second attack took place and cost the exchange $180,000 in Ether. After weeks of confusion, the exchange resumed services in March 2019.
Back in March, a similar quantity of ETH was transferred from aa923cd02364bb8a4c3d6f894178d2e12231655c titled “Cryptopia Hack,” to an unknown wallet, 3fbaa73a433daa0f6c43d1c732c3f97a86f3a427, to the tune of 30,789 ETH, worth $4.28 million at the time.
Interestingly, the address 3fbaa73a433daa0f6c43d1c732c3f97a86f3a427 prior to the recent transaction saw an outgoing transaction of 1 Ether, totaling the March amount.
Source: Etherscan
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Source: AMB Crypto

Bitcoin [BTC] creates High Low of $7,100 following recent breakout; foundation for $9,000 surge?

Bitcoin [BTC] and the recent $8,000 break-out is massive for the cryptocurrency market going forward. On the back of no major announcement in the past few days, and the pull-back of the previous week, the king coin won its second battle against the price ceiling curating a major high, in the form of an exhibited low.
As the May 19 bulls rampaged the market, buoying the top cryptocurrency to rise by 7 percent in the hour earlier today, a new High-Low [HL] was seen at just below $7,100 which sparked signs for the foundation of a $9,000 break-out. With Bitcoin trading above $8,000 and showing marginal gains off-late, a continued run is foreseen by many in the community.
Given that the king coin edged below the aforementioned price point last week, and dropped quickly to a low of $7,100 during the anticipated “pull-back,” although with compounded reasons pertaining to the post-Consensus bears and the Bitstamp sell order, the recent incline over $8,000 is a positive sign.
CryptoMonk, a Bitcoin and altcoin trader and host of the crypto-monsoon podcast, ironically, attested to Bitcoin’s continued ascent into crypto-spring. He tweeted:
“$BTC has just successfully printed another HL.
It’s a matter of time before we see + $9k.”
The trader supported his statement with a chart depicting the various HLs exhibited by the coin in the past few months. Prior to the HL of $7,100, the previous one was seen just below $7,000 and the one before that was around $5,500 during early May when the FOMO had not set in yet.
Source: Twitter
What is even more surprising, is the fact that there is no real source of Bitcoin’s current 10.16 percent daily gain. Unlike the earlier $8,000 ascendance, which was on the back of several announcements involving Bakkt, Gemini, Microsoft, and Amazon.
Interestingly, the recent price surge mirrored the April incline, as there was no real indicator for the pump. Yes, several signs in the form of an April fool’s joke, China-BTC-mining ban FOMO, and a large automatic buy order were touted as the source, none could be confirmed as the primary push. This April 2 push was the foundation for the successive BTC pumps over $6,000, $7,000 and now $8,000 with $9,000 on the cards.
CryptoMonk did issue a cautionary tone prior to a likely confirmation of a $9,000 breakout. The High High [HH] which stands at $8,260, formed on the back of last week’s pump before the “pull-back,” will act as a resistance of some sort, and if the same is broken, a constant push will, more or less, be a high possibility.
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Source: AMB Crypto

Game of Thrones ignites barrage of Bitcoin [BTC] bets on who will take the ‘Iron throne’

The much-awaited Game of Thrones series is coming to an end and the true ruler of Westeros is still a debated topic. However, the cryptoverse made things interesting for the GoT fans as it introduced a betting game for the fans to earn the largest cryptocurrency in the world, Bitcoin [BTC].
FreeBitco.in, a Bitcoin [BTC] faucet on its platform hosted this betting game for its registered users to place a bet on their best choice of who would ultimately sit on the iron throne. Among the choices were obvious ones like Jon Snow, Daenerys Targaryen, and Cersei Lannister, but there were also other options like the Stark siblings- Bran, Arya, and Sansa, Tyrion Lannister, Gendry Baratheon, and the Night King. However, an option of ‘Unknown’ was also available for the users to choose.
At the beginning of the season 8, Jon Snow led the betting with 1.532005 BTC, however as the season progressed Jon Snow slipped to the second position, as Bran took to the lead, while ‘Unknown’ settled as the third best option. The pool value of the bet currently rests at 4.97219626 BTC, worth almost $40k. However, the pool has a time multiplier, implying reducing reward shares as time passes.
At press time, 41% of bets were placed under the name of Bran Stark AKA the Three-Eyed Raven, followed by the King in the north AKA Jon Snow with 22%. The bets for an unknown character taking the throne were around 13%, after which Sansa, Tyrion, and Daenerys accounted for 5% each.
As the Game of Thrones comes to an end and the Crypto market cheers for the rising price of BTC, even as the winner of the pool could land themselves with a handsome amount in BTC, as it has already crossed $8k.
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Source: AMB Crypto

Charlie Shrem claims Mt.Gox was the first to create ‘token as debt’, not Bitfinex

The cryptocurrency market has seen quite a few scandals and Mt. Gox was among the most infamous of them all. Charlie Shrem, a Bitcoin entrepreneur discussed the story of Mt. Gox with J Maurice, a Bitcoin Miner, on his podcast ‘Untold Stories’.
According to Maurice and Shrem, Mt. GoX acquired almost “70-80% market share of all Bitcoin trading globally” which was quite a large share for one decentralized exchange to have. However, according to Shrem’s lens Mt. Gox was the “largest and most central company to the Bitcoin eco-system”. He also explained how in 2013-14, the largest Bitcoin exchange was an important factor for anyone trading Bitcoin.
However, Mt. Gox faced an unforeseen hindrance when 850k BTC went missing [or stolen] from Bitcoin circulation. According to the Wiz, the days before Mt. Gox shut were “really painful” as people couldn’t trust them anymore.
Shrem highlighted that there were two Bitcoin options available on the exchange at that point; one was the original Bitcoin [BTC] and other was Mt.Gox’s Bitcoin, which “were these fake Bitcoins that you could trade in Mt.Gox’s system”. This led to the formation of a secondary market buying Gox BTC, which was “essentially Bitcoin which couldn’t be removed from Mt.Gox before it imploded”.
However, Shrem claimed that even though Mt.Gox imploded, the market created its own token as debt, even as Bitfinex claimed to have created the first token as debt. Wiz noted that Josh Jones, a creditor at Mt.Gox, created a system to exchange this Mt.Gox BTC for real BTC. Wiz noted:
“Mt.Gox had this feature where you could internally transfer Bitcoins between Mt.Gox accounts and Josh Jones had created this system on top of that so that you can send your balance to his accounts and then that would be your os that will be your Bitcoin builder exchange balance, you would have Gox BTC at that time which you could trade for real BTC.”
The crypto users at the time could trade this Gox BTC for real BTC at a discounted rate and get out of the mess which was left behind following the hack.
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Source: AMB Crypto

Ethereum [ETH] and Tron [TRX] Price Analysis: ETH and TRX witness steady growth

After the recent pullback of Bitcoin, the market was forced to fall drastically, Ethereum saw a steady recovery post the fall. Ethereum ranked number 2 overall and was priced at $259.12, with a market cap of $27.5 billion. The 24-hour trade volume came up to $23.62 billion out of which, BitMEX contributed 13.94% via XBT/USD. ETH saw a price surge of 9.85% in the last 24 hours, at press time.
Tron, ranked eleventh overall was priced at $0.0294, with a market cap of $1.96 billion. The 24-hour trade volume came up to $683 million, out of which, BW.com contributed 8.09% via the TRX/USDT pair. A price surge of 9.64% was seen by TRX in the last 24 hours.
1-Day – ETH
Source: TradingView
The one-day chart of ETH showed an uptrend from $150.8046 to $264.1566. The support points were seen at $84.4047, $104.1055 and $153.1049. The point of correction was seen at $264.7427.
The Chaikin Money Flow indicated that the inflow of capital into the ETH market was more that the outflow.
The MACD indicator showed a bullish crossover.
The Relative Strength Index put the coin in the overbought zone.
1-Day – TRX
Source: TradingView
The one-day chart of TRX showed an uptrend from $0.0132 to $0.0236. The support points stood at $0.0126, $0.0225 and $0.0255. The resistance was seen at $0.0307.
The Parabolic SAR indicated a bullish trend as the dotted markers were under the candles.
The Bollinger Bands indicated volatility in price as the band expanded.
The Relative Strength Index indicated a bullish trend as the graph was closer to the overbought zone.
Conclusion
The one-day charts of ETH and TRX are in a bullish market if the indicators are to be believed.
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Source: AMB Crypto

Charles Hoskinson partners with Polymath’s Trevor Koverko for building new security token blockchain

With Bitcoin [BTC] breaching its immediate resistance, the community is rooting for the largest cryptocurrency to breach the next resistance set at $8,000. This sudden pump in the prices of most major cryptocurrencies, especially BTC, was a hot topic at Consensus 2019, followed by the partnership between Charles Hoskinson, the CEO of IOHK, and Trevor Koverko, the CEO of Polymath.
The duo has come together for an initiative which aims at launching a Layer 1 security token blockchain called ‘Polymesh’. According to Trevor, there exists a gap in the market for a purpose-built custom blockchain for security tokens. Hoskinson noted that a normal public blockchain system is a homogenous system where regulators, issuers, buyers and sellers are subjected to the same rules and responsibilities. He adds on the design of the Polymesh:
“One of the first things we recognized is, you need to build a hybrid architecture. You need to say that there are going to be a certain party of the system which are permissioned and private, and certain parts of a system that are open and public and then you can assign different roles and responsibilities to regulators and other types of actors.”
By assigning the responsibilities to a part of the system, they would have the power to ‘maybe freeze’ a transaction, reverse it, and even view an audit trail, while the other part cannot. Hoskinson and Koverko noted that it was necessary for a system like Polymesh to exist for the Security Token Offering [STO] revolution. Hoskinson added:
“Furthermore there’s good evidence of that from just traction of STOs. There’s a desire to create liquidity, there’s a desire to create these assets, but where are they at CoinMarketCap, where are they at in terms of trading, they’re not where they need to be.”
Koverko and Hoskinson believe that this new system will benefit the STO revolution and thus, have to be built from the ground.
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Source: AMB Crypto

Cryptocurrency and Porn Industry: Why is it a perfect match?

In the 1980s, the internet was frequently used by three types of people: government officials, university scholars, and individuals seeking adult entertainment.
Keeping the mundane search history of officials and the scholars away, only one thing remains in the frame, which is the often frowned upon, yet highly sort after, the adult entertainment industry.
The adult entertainment business has seen massive growth over the years and its numbers speaks for themselves. In 2018, Pornhub, one of the biggest porn websites on the planet, ‘entertained’ individuals approximately 33.5 billion times via their webpage. That is around 13.7 million visits per day.
Source: XBIZ
An estimated number of 201,405 videos are watched, and porn websites around the world register 64,000 visitors/per minute in a day.
The data associated with the industry does not shy away from the revenue aspect either. According to a poll conducted by XBIZ, the porn industry generates a magnanimous revenue between $6 billion and $15 billion every year, in the US.
This is more revenue than the NBA, Hollywood, and Netflix. America’s intense porn obsession can be credited for fueling its economy and the adult entertainment industry clearly plays a major part in it.
CRYPTOCURRENCY AND PORN
The adult entertainment world is one of the few industries which prides itself on the reputation of being the front runners of early technological adoption. In 1977, when VHS tapes made its way into America and the rest of the world, it is believed that the porn industry played a massive role in ushering in its initial success in the 1980s.
However, the tryst between cryptocurrencies and the porn industry has been a tricky one. According to a research, conducted by the porn studio VogoV, by the end of 2018, around 470 adult video sites, 50 webcam platforms, and 35 sex shops worldwide had started accepting virtual currencies as a form of payment. The data on paper may echo a significant number, but when it is compared to the overall size of the ever-expanding adult industry, it is very minuscule.
The industry started to take massive strides with the adoption of cryptocurrency around early 2017, when the idea of crypto as a payment started gaining traction.
Source: Naughty America
In 2017, major sites like Naughty America and xHamster started accepting Bitcoin as a form of payment. Pornhub and some of its sister websites also started establishing partnerships with various cryptocurrencies such as Horizen [ formerly ZenCash ], Tron, and Verge.
CRYPTOCURRENCY AND ADULT INDUSTRY: WHY IS IT A PERFECT MATCH?
According to a poll by fightthenewdrug.com, Porn was actively viewed by the millennial of the current generation [between the age of 16 and 33]. A person of this age group mostly has an active social life and outgoing lifestyle. No one in this age group would like to disclose or talk about it with their partner that they were paying for pornography. It can come across embarrassing and usually uncomfortable most of the time. The adult entertainment industry is one such which can only be consumed in the privacy of your own space.
This is where both the parties meet at a common ground and present a great opportunity.
The anonymity offered by the virtual assets is a sigh of relief for the adults who do not want their private viewing habits on the internet to be a recorded statement on their credit cards. Hence, the idea or awkwardness of receiving unexpected emails from your favorite porn websites is completely taken out of the picture.
The payment platform associated with crypto also solves major issues which are associated with trust between the user and the website. The amount of fraudulent websites prevalent in the adult industry is massive and people are justifiably skeptical of entering their card details. The space for illicit scams is enormous and a slight pushback can allow hackers to access your bank account credentials. In simple terms, it is not safe!
Additionally, one of the major issues which often escape the eye is the difficulty suffered by adult performers. The number of adult performers around the world is assumed to more than a 100,000. That might not be significantly high, but in terms of paying them for their service, it is.
The issue arises as a lot of banks do not allow adult performers to open accounts in their name and use their services. A few years back, adult film stars were reportedly getting their bank accounts systematically closed by JP Morgan Chase for no reason other than their professional connection with the adult entertainment industry. Hence, most of the performers have to take payment in cash, which becomes a personal hassle for them as their security is in the limbo.
The cryptocurrency method of payment completely solves this problem as they can receive their payments directly to their digital wallet without the involvement of financial institutions.
MAJOR PARTNERSHIPS BETWEEN CRYPTOCURRENCIES AND PORN WEBSITES
Bitcoin, the first original cryptocurrency which started the whole crypto-saga, is the most popular and valuable crypto in the market. At the time of writing, Bitcoin held was closing in on 60% market dominance in the cryptocurrency market.
Source: Pornhub
However, when Pornhub introduced the option of cryptocurrency payment on their website, they overlooked Bitcoin and decided to form a partnership with the lesser known crypto known as Verge cryptocurrency.
Corey Price, the Vice President at Pornhub, stated that Verge was entirely anonymity-focused, which is why it was chosen over other virtual assets. Price added that Verge offered “convenience and security”, which in theory was an inaccurate statement considering the volatility of the crypto-market.
Moreover, if the functionality of Bitcoin and Verge were to be compared, Verge was more of a privacy token than Bitcoin. All the transactions taking place on the Bitcoin blockchain can be traced and eventually be linked to a person’s name, provided KYC rules have been implemented.
When using Verge, the anonymity is further solidified because of its unique Wrath Protocol. The protocol hides every part of the transaction from the blockchain, except the amount which was sent or received. The blockchain will not have a record of the purchase nor can it be traced back to an individual.
Moreover, Verge had a better performance track record as it could process 100 transactions per second, in comparison to Bitcoin’s seven transactions per second. Verge also boasted better speed as it was able to process a transaction every 30 seconds, whereas Bitcoin [BTC] required 10 minutes for executing a transaction.
Pornhub also had the option of crypto payments via Horizon [formerly known as ZenCash] and Tron. Pornhub’s choice can be identified from the reasons above.
Source: Twiter
Brazzers followed suit and listed the same tokens as options on their crypto payments platform a few days later.
However, Bitcoin did not entirely miss out on the adult industry. Mainstream porn website Naughty America listed Bitcoin [BTC] payments on their webpage alongside Litecoin [LTC]. Other lesser-known websites such as Chaturbate and Playboy Plus also included Bitcoin payments on their websites.
Source: CamSoda
Contrary to the selection above, CamSoda recently announced the integration of crypto-payments, including seven different coins such as Bitcoin [BTC] and Ethereum [ETH]. Hence, the general bias towards certain coins was not widely spread out.
The adoption of coins might vary from site to site, but it is still a win for the larger picture, which is the global adoption of cryptocurrencies.
CONCLUSION
The argument drawn for the late adoption of cryptocurrency in the porn industry is highly debatable. The speculated reason for the increased interest of the adult industry in cryptocurrencies can be attributed to the increasing popularity of virtual assets over the last half-decade.
The cryptocurrency market went through a major market surge back in 2015 and witnessed another significant one in 2017 which raised the valuation of the crypto-market to over 100$ billion in market capitalization. The community started exploring various platforms where virtual currencies could be implemented.
The adult industry might have been slow to get involved, but they were not ignorant to not tap into the industry. The progressive growth of the crypto with a huge user base online reassured the adult industry that the inclusion of crypto-payments would only improve their stocks and revenue in the years to come.
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Source: AMB Crypto

Bitcoin’s [BTC] future: Prominent traders expect 30-40% correction in price, followed by a bull rally

CNBC’s Ran NeuNer spoke to a few prominent Bitcoin enthusiasts at the Consensus 2019 and explored how Bitcoin would perform in the upcoming weeks.
Tone Vays said that he was skeptical about the recent rally and that he needed a few confirmations to believe that the recent surge was the start of a bull run. He said:
“… I’m looking for correction between 33.3% to 40%… I’m still a little skeptical. I need to witness a pullback and a new swing high; I’m a big believer that the markets move with higher lows and higher highs. We are working at a higher high but we have not had a pullback.”
He further added that the pullback would be healthy if it was between 30-40% and that it would also be a good start to the bull run. If the pullback did not stop, it would make a new low where a lot of accumulation would occur. It would also signify strength and a possible start of the Bitcoin run, Vays added.
Peter Brandt said that the parabolic rally was underway as there were resistances at $6,600 and $6,800. He added:
“I really thought that we could go to $6,700, $6,8000 and hiccup at that level and possibly retest but we haven’t. So does that mean, we, at some point, go into congestion area and retest $5,700 and $6,000 level? Or do we go parabolic? “
In addition, he opined that Bitcoin wouldn’t go parabolic from here and that this parabolic move would make “dumb money chase it”. He also added that he had taken off light profits at the peak.
At press time, Bitcoin had surged by 10% over the day and was retesting the $8,000 level. However, the king coin has not broken through that range yet. Bitcoin, at press time, was priced at $7,970, with a market cap of $140 billion.
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Source: AMB Crypto

Bitcoin Cash [BCH]: First multisig transaction on BCH network is a donation to Free Ross Ulbricht campaign

Free Ross Ulbricht campaign gained significant momentum lately, owing to the sheer number of crypto luminaries coming out in support of the Silk Road creator. The collective crypto community, including prominent faces like the Bitcoin.com CEO and BCH coin proponent Roger Ver, criticized the draconian double life plus 40 years sentence to Ulbricht.
At press time, 166,288 individuals had signed the petition which sought justice for the former website developer. According to the campaign website, Ulbricht has served 2,056 days in prison till date.
In a recent development, the first-ever multisig transaction executed was a donation to the campaign to free Ulbricht. The three signers of the multi-signature on the Bitcoin Cash network were reportedly made by three individuals – Mark Lundebrug, Chris Pacia, and a Twitter user checksum0.
A total sum of $35.97 was donated to the convicted Silk Road founder’s campaign. One of the users who executed the transaction tweeted,

@MarkLundeberg @ChrisPacia and I made the first Schnorr multisignature in history. The transaction is a donation to @Free_Ross. Proof will be published shortly.https://t.co/X4Ub2JLuF0
— checksum0 (@checksum0) May 19, 2019

The high profile multisig feature was reportedly implemented by Bitcoin Cash network on May 15. The digital signature scheme had been patented by its creator Claus Schnorr till 2008. The foremost privacy update, Schnorr signatures aim to minimize tracing and tracking cryptocurrency movements and dealings.
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Source: AMB Crypto

Bitcoin [BTC] and Litecoin [LTC] Price Analysis: BTC bulls bellow past $7,900 mark as LTC recoils

Bitcoin rallied past $8,000 last week and showed good resilience in maintaining its bullish momentum. Bitcoin was priced at $7,915.81 with a market cap of $140.18 billion and registered $23.46 billion in 24-hour trading volume.
Litecoin stood fifth in the list of top-10 cryptocurrencies with a market cap of $5.71 billion and $3.98 billion in 24-hour trading volume. The coin was priced at $92.46, at press time.
1-Day BTC
Source: TradingView
The one-day BTC chart showed that there was an uptrend from $4,008.79 to $8,195.17. The chart specified that the resistance lines stood at $7,307.15, $6,444.50 and $5,505.74 and there were two support lines at $3,755.01 and $3,171.51.
Moving Average Convergence Divergence [MACD] indicator pointed at a bullish crossover.
Parabolic SAR indicator displayed a bullish trend as the dotted markers were below the candles.
Relative Strength Indicator indicated a bullish trend as the market was in the overbought zone. However, a correction seemed to be in the offing.
1-Day LTC
Source: TradingView
The one-day chart of LTC showed two uptrends. The first was from $42.23 to $91.40 and the second was from $91.40 to $102.85. The resistance line stood at $102.52 and the supports were present at $60.58 and $32.06.
Bollinger Bands exhibited a high rate of volatility in the market.
The Awesome Oscillator indicated a bullish buying opportunity in the LTC market as the short-term momentum was greater than the long-term momentum.
Chaikin Money Flow chart was below the zero-line, indicating that money flowing out of the market.
Conclusion
Bitcoin and Litecoin seemed to be in a bullish market as forecast by the indicators.
The post Bitcoin [BTC] and Litecoin [LTC] Price Analysis: BTC bulls bellow past $7,900 mark as LTC recoils appeared first on AMBCrypto.
Source: AMB Crypto

Bitcoin [BTC] breaches $8k; gets ready for the bullish ride

The world’s largest cryptocurrency, Bitcoin [BTC] breached another immediate resistance at $8k and was valued at $8,084.49, at press time. BTC had been pumping for the past few weeks, pulling the coin from a slump and probably towards a new bull run. On May 19, the coin started rallying from $7252.58 and peaked at $8,102.
Source: Trading view
According to the trading view chart of BTC, it was being traded at $8,102. The market cap of the coin was noted to be $143.17 billion as the 24-hour trading volume reached $23.64 billion. In the past seven days, BTC pumped by 11.99% and it continued to rise by 10.64% in a day. The coin noted a growth of 1.56% in an hour.
BTC spiked by a staggering 12% over 10 hours taking the price of the coin from $7,252 to $8,155. The next resistance was marked at $8,300, after which $9k becomes an imminent target. In terms of trading volume, Bitcoin was highly traded on BitMEX exchange with VBT/USD pair and a volume of $4.22 billion was reported. The second place was noted by BW.com with BTC/USDT pair with a volume of $780 million. BitMart followed the exchanges as it noted a trading volume of $750 million with BTC/USDT pair.
As the demand for the coin rises in the crypto market, the searches on the Internet increased too. A report by Cryptoglobe noted that Google search for ‘Bitcoin’ as a keyword hit a high, yet again in 14 months. This surge was previously reported in February 2018 when the coin was trading between $8k and $11k.
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Source: AMB Crypto

Bitcoin [BTC] Whale Alert: BTC worth over $38 million moved in two transactions

Bitcoin turned to the bulls once again on early May 19, exhibiting a rapid 7 percent hourly price gain, stoking the attention of several parties. One among them was the observant whales, which moved 5,000 BTCs in two separate transactions.
As reported by WhaleAlert, an online cryptocurrency-transaction tracker, a transaction of 3,000 BTC first, calculated at $23.68 million was the first movement. The transaction, as per the data aggregation website, occurred at 06:58:55 UTC on May 19.
The first transaction was between the addresses 1HL5rZWw5rGzFAB1mThEMxwazEBtWigs7B and 3LAT8J4ywCXSceAJuncaztoL3FH1tNtqEx. The hash of the transaction in question was b31df7d81f774bf2f9623c96ab9cebddc8a76844.
Minutes later, alarms rung once again with 2,000 Bitcoins worth over $15.78 million transferred from an unknown wallet to the controversy-riddled exchange, Bitfinex. According to Whale Alert, the same sender i.e. 1HL5rZWw5rGzFAB1mThEMxwazEBtWigs7B, like the above, was involved in this transaction as well.
According to Blockchain.com, the total input was $39.76 million, while the BTC transacted, based on the second transaction which involved Bitfinex was around $15.19 million. The tree chart from the same can be seen below:
Source: Blockchain.com
This movement comes at an opportunistic time for large profit-grabbers in the Bitcoin market, as May’s bullish swing turned their fortunes. In a chart by ProofofResearch, the Bitcoin whales capitalized on the massive 30 percent price incline of the top cryptocurrency since the beginning of the month.
However, the researcher added that the whales have since “exited” the market with their large profits.
Following last week’s pullback, the price of the top cryptocurrency has sparked once again, rising by mammoth proportions, albeit for a short stint, surging past $7,800 and then the $7,900 mark, and, at press time, Bitcoin was on the verge of breaking $8,000 for the second time in a week.
Bitcoin dropped below $8,000 and continued falling, but hovered about $7,000 following the pull-back, which many speculated was due to market correction, the post-Consensus bears and a significant transaction on Bitstamp. The Japanese cryptocurrency exchange, Bitstamp saw a 5,000 BTC sell order priced at $6,200, which, according to some, contributed to the pullback.
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Source: AMB Crypto

Bitcoin [BTC]: Whales collect significant profits since beginning of BTC bull run

Whales and bulls may not live in close proximity in the outside world, but in the cryptocurrency realm, they are the best of friends. Ever since the current Bitcoin [BTC] bull run surfaced, the whales have been buoyantly active and have amassed huge profits.
Charted out by CryptoMedication, better known as ProofofResearch on Twitter, the ZeroNonCense researcher laid out the lucrative gains of the whales since the Bitcoin ascendance began. Despite the large margins, he stated that he was “confident” in the research, but maintained that the “whales have already exited” after cashing in their quick, but large gains.
Bitcoin’s bulls rampaged the market in early April, when the king coin saw its highest daily gain in over a day on April 2, recording over 15 percent positive price swing. However, due to the lack of a concrete source, the pump was seen as a one-off, hence the bullish swings of May painted a more telling tale of the bull-run.
Source: Trading View
May began with Bitcoin above $5,000, breaking $6,000 on May 9 and $7,000 three days later. With $8,000 proving to be a test for the top cryptocurrency, breaking the ceiling and falling back down, triggering a pull-back, the current positive movements poise BTC for another $8,000 incline.
Given the rapid May rise, with the press time price 30 percent over the price at the beginning of the month, CryptoMedication, laid out the bottom at $5,462. In a matter of weeks, the whales managed to amass a 31.89 percent profit, if they managed to sell the top coin at $8,020.62, the price prior to the pullback last week.
On the flipside, the ceiling placed by CryptoMedication is $9,034, which many in the industry expected Bitcoin to surge past given the incline on which it was trading. In comparison to the aforementioned price, $8,020 is around 12.64 percent below the same.
Additionally, the Relative Strength Index [RSI] indicates that after a dip from the “overbought” zone above 70, the index is looking to move into the same once again, following the May 19 bullish action.
The post Bitcoin [BTC]: Whales collect significant profits since beginning of BTC bull run appeared first on AMBCrypto.
Source: AMB Crypto

Binance Coin [BNB] registers ATH as it surges by over 16,000% since inception

The cryptocurrency market continued to register massive growth, as the prices of most major cryptocurrencies soared. However, the late entrant to the list, Binance Coin [BNB] is posing to be tough competition for other coins in terms of performance. BNB which entered the crypto market in July 2017, breached its all-time high and was trading at $28.79, at press time.
Source: Trading view
Binance Coin started out in July 2017 with a value of $0.1927 and marked its all-time high on May 18 at $31.91, according to the Trading View chart of the coin on Binance. BNB noted the growth of a massive 16,458.31% since 2017. However, until the beginning of 2019, BNB was valued at $6.59, after which the coin noted a surge by 384.15% and peaked at $31.
Source: CoinMarketCap
In the month of May, BNB noted a 28.16% growth, and the coin was valued at $28.66, with a market cap of $4.04 billion. The 24-hour trade volume of the coin was reported to be $551 million as it spiked by over 10% in a day. In the past seven days, the coin grew by 35.97%, but slipped by a minimal 0.25% in an hour.
BNB was highly traded on its native exchange, Binance via the BNB/BTC and BNB/USDT pairs. The BNB/BTC trading volume noted on Binance was $140 million, while the volume reported on the BNB/USDT pair was $132 million. The third place was taken by BKEX via the BNB/USDT pair as it registered a trading volume of $72 million.
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Source: AMB Crypto

Bitcoin Cash, Ethereum, and other altcoins follow Bitcoin’s lead and pump by more than 6% in under 2 hours

Although the price of each cryptocurrency should matter on its own status and developments in its own ecosystem, it doesn’t. The price of altcoins is largely correlated to Bitcoin’s, which explains this pump in altcoins.
The second largest cryptocurrency, Ethereum, pumped by more than 7% in less than 2 hours, which was the same case for Bitcoin Cash. The price of Ethereum, at press time, was $249 and had a market cap of $26 billion.
Source: TradingView
Bitcoin Cash, the fourth largest cryptocurrency, pumped by 8% in under two hours. The price reached $385 and the market cap hit $6.7 billion.
Source: TradingView
The amount of Bitcoin Cash transferred in 24-hours was almost equivalent to its market cap, which is massive, and in simple terms, explains how Bitcoin Cash is better than Bitcoin in terms of scaling and transaction settling.
Other altcoins followed Bitcoin’s lead as they pumped; XRP, EOS, Litecoin, and Stellar Lumens surged by approximately 6% in less than 2 hours. However, Binance Coin didn’t react to the pump in Bitcoin’s prices.
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Source: AMB Crypto