Bitcoin Price Plunged 90 percent to $5,400 Due to Network Glitch, Here’s What Happened

September 22nd, 2021

Monday’s market crash resulted in billion-dollar liquidations in the crypto space. The Bitcoin (BTC) plummeted under $45,000 that day, however, a network glitch on the Pyth platform showed that the BTC price plummeted 90% dropping all the way to $5,400. The crypto data network Pyth is run by some of Wall streets biggest players. Besides,…

Defi Hack Alert: This protocol lost over $12 million in Bitcoin

September 20th, 2021

The Defi protocol, pNetwork alerted the community of a 277 Bitcoin (BTC) hack, which amounts to 12.67 million in USD. The network revealed that the attacker installed a bug on the Binance Blockchain codebase of pNetwork. However, the protocol confirmed safety for other funds as no more bridges had to bear the burn of the…

Bitcoin Gives A Daily Close Above the Key Resistance, $55,000 In Sight

September 6th, 2021

As the altcoin space is looking for some consolidation after a strong rally, Bitcoin (BTC) seems to be gaining momentum. In the last 24-hours, the world’s largest cryptocurrency has gained nearly 4% moving past $51,500 levels. More importantly, Bitcoin has managed to give a daily close above $50,750 levels points out crypto analyst Lark Davis….

El Salvador Passes $150 Million Bitcoin Trust, Here’s How It Will be Used

September 1st, 2021

El Salvador, the small Central American nation is just a week away from bringing the Bitcoin Law into effect. However, the nation’s legislative assembly has approved a new Bitcoin Trust worth $150 million. The bill was passed on August 31 with 64 votes in favor and 14 against it. The main purpose of the Trust…

Bitcoin’s Massive Ascending Channel Signals A Break to the Upside

August 30th, 2021

Over the last week, the world’s largest cryptocurrency has been consolidating under $50,000 levels. On a weekly chart, BTC has lost 4.67%. As per data on CoinMarketCap, BTC is currently trading 0.5% down at $48,003 and a market cap of $901 billion. However, if we look at the one-decade long-term chart of Bitcoin, the world’s…

Bitcoin Sees Largest Exchange Inflow Since Black Thursday, Here’s How BTC Price Could React

August 25th, 2021

Bitcoin price dipped below $50,000 just days after recording a new 3-month high of $50,482. $50K was seen as key resistance for the top cryptocurrency, and it has failed to solidify its position above that. The overall market sentiment had turned green in August as Bitcoin along with other altcoins saw a new bullish resurgence….

Banking executives poll claims “seismic” shift from Fiat to Crypto in 5 years

August 24th, 2021

A Deloitte report, surveying mostly banking executives, revealed that the majority think, cryptocurrencies like bitcoin and other virtual assets can potentially replace fiat currencies like the U.S. dollar in the next 5-10 years. The executives have described this as a “seismic” shift, referring to the radical change it will implement on the economy. “We uncovered…

This Crypto Billionaire Expects the BTC price to Touch $88,888 in Two Months

August 23rd, 2021

The world’s largest cryptocurrency Bitcoin (BTC) has made a move above $50,000 levels with its market cap approaching $950 billion. It is for the first time since May 15, 2021, that Bitcoin has crossed these levels. As of press time, BTC is trading 2.37% up at a price of $50,268. Zhu Su, the founder of…

Crypto Exchange Liquid Hacked, Loses Millions in Various Currencies

August 19th, 2021

Japanese cryptocurrency exchange Liquid is suspending deposits and withdrawals after a security breach resulting in the loss of around an estimated $80 million in digital assets. The platform published the suspected hacker’s addresses and said it’s moving funds to cold storage. Hacker Hits Japanese Crypto Exchange Liquid Asian cryptocurrency exchange Liquid Global has confirmed it…

Nigerian Central Bank Freezes Bank Accounts of Fintech Firms, Accuses Them of Violating Forex Regulations

August 19th, 2021

The Central Bank of Nigeria (CBN) reportedly frozen bank accounts belonging to four fintech firms for up to 180 days after a Federal High Court in Abuja acceded to an “ex parte motion.” The ex parte motion, which is a form of temporary suspension, was granted after a Nigerian chief, Micheal Kaase Aondoakaa, filed the…