Bitcoin plunged 10% in 24 hours. These two major events may be the “culprits” behind it.

Bitcoin prices fell to a three-week low of about US$8,540, which has fallen by nearly 10% in the past 24 hours because the market reacted to the surprise inspections of the Korean Exchange Trading Platform and the liquidation of the Mt.Gox Fund. The Ethereum fell nearly 12%, while Ripple and Bitcoin Cash performed even worse, dropping roughly 17% during the same period.
According to Etoday, the Korean economic media, Upbit, Korea’s largest exchange, was investigated. The Seoul Metropolitan Branch Financial Investigation Department 2 has begun detaining computer equipment and accounting books in the Upbit headquarters in Gangnam from yesterday. According to the prosecutor’s news, Upbit was investigated mainly because it falsely modified the data without actually keeping the cryptocurrency and was suspected of defrauding investors.
At the same time, the executives responsible for refinancing the users of the former Japan Exchange Mt.Gox sold four batches totaling about 8,000 Bitcoin (about US$70 million).
People believe that the price fall is an “overreaction” of cryptocurrency holders, but is also worried that this drop in prices will reduce people’s enthusiasm for digital assets.
Bitcoin chart live
Ethereum chart live


 Bitcoin cash chart live
Bitcoin cash prices briefly hit $1800 on May 6th.

评论

发表评论

此博客中的热门博文

Can XinFin Network contribute to international trade?

As we all know, global trade relies too much on manual processes and is therefore inefficient. Blockchain technology has brought a new solution to the problem of global trade. Not only is the immutability of recorded data less trade friction, but its global peer-to-peer network also promotes data sharing. Bringing greater security and efficiency to global trade. But given the current complexity, implementing this technology for trade compliance requires significant changes to the status quo. However, there is still a long way to go to truly implement this technology in international trade. According to statistics, the total value of goods transported each year is as high as 4 trillion US dollars, of which 80% of daily necessities are transported by sea. If the international supply chain is optimized, global trade will increase by nearly 15%, thereby promoting economic growth and increasing employment opportunities. The XDCE  protocol is an initiative of XinFin.org to build a h...
阅读全文

Good news for dash coin price today-Close to paypal trading level

New research from the Arizona State University (ASU) Blockchain Research Laboratory shows that the Dash network can easily scale to more than half of PayPal's current transaction level in the chain. The study concluded that Dash can easily be extended to 10mb blocks with a 0.1% orphan rate. ASU's paper on Dash block propagation shows the long-term viability of a chain extension approach to growing payment networks. Based on this research and preliminary investigation of future research, Dr. Tapp is optimistic that Dash can effectively expand beyond the research's 10 mb block size. This is good news for dash, but dash coin price today  has not risen. DASH can handle transactions faster than Bitcoin or almost any other cryptocurrency. DASH transactions can be confirmed in one second or less, making DASH encryption an ideal choice for industries with cannabis payment needs, such as the marijuana industry. A large number of merchants have accepted DASH as a payment. In fact,...
阅读全文

Refereum： Earn income while playing games

In theory, blockchain is not a very innovative technology. It is more inclined to a new application mode that combines distributed data storage, peer to peer transmission, consensus mechanism, encryption algorithm and other computer technologies. So I think technology will never be its focus, the application model is! From the existing solutions or applications, the combination of game and blockchain technology is mainly at two points: asset circulation and platform. Asset circulation The virtual assets such as tokens in the game are distributed as digital assets based on the blockchain. The advantage is that the circulation is more convenient and the cost is lower. Platform This is the decentralized e-sports platform on Ethereum – based on the decentralization of blockchain technology to solve the trust problem of the central platform, and use smart contracts to solve the problem of bounty payment. A bit like the nature of gambling, compared with the current gaming platform...
阅读全文