June 18, 2024

Bitcoin drops below $ 10,000, Binance chapter predictions and other events of the week

Summing up the results of the past week in the cryptocurrency industry, we recall the Bitcoin price forecast from Changpeng Zhao,the tokenization of Cristiano Ronaldo and the contradictory statements of the head of Ripple.

Below psychological level

This week, the first cryptocurrency unsuccessfully tried to gain a foothold over the round level of $ 10,000.

Bitcoin drops below $ 10,000, Binance chapter predictions and other events of the week

TradingView Bitstamp BTC / USD hourly chart

At the beginning of the week, the bulls managed to push the price for this important level briefly, but already on Thursday the bears won a landslide victory in the confrontation.

Digital gold is currently trading at $ 9,900. The total market capitalization is $ 287 billion, the BTC dominance index is 62.6%.

The top ten most popular crypto assets looks like this:

Bitcoin drops below $ 10,000, Binance chapter predictions and other events of the week

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CoinDesk Markets analysts found that bitcoin and gold correlate quite closely with each other, and also expressed confidence that both assets will soon update highs.

Binance chapter predictions

The head of the popular crypto exchange Binance Changpeng ZhaoI am confident that Bitcoin will continue to grow after the upcoming halving. In particular, he recalled that this event, which has already taken place twice, has historically had a positive impact on the price dynamics of the first cryptocurrency.

In his opinion, BTC will support the priceminers who are unlikely to want to sell coins below their production costs. Along with inflation sharply declining after halving, such “hodling” will further reduce the supply of digital gold.

Zhao also emphasized that there are certain psychological barriers in the form of round numbers. Now it is $ 10,000, around which the price of the first cryptocurrency will fluctuate for some time.

Also recall that the Zhao-led exchange this week suddenly went into maintenance, which lasted several hours.

Insidious SIM sweepers

SIM-sweepers stole from Reddit user Zhoujianfu about 100,000 BCH and 1,550 BTC (in total - about $ 45 million).

According to Zhoujianfu, the attackers gained access to the funds by changing his SIM card to pass two-factor authentication.

In an emotional appeal, an unlucky user requested help in returning stolen assets from miners and the community, offering a “big reward”.

Commentators expressed surprise at his decisionstore cryptocurrency for such an amount on a platform for access to which one mobile phone is enough. Regarding the possibility of a refund, he was advised to contact a major BCH miner with a proposal for $ 10 million to arrange double spending for transactions of attackers.

Tokenized Cristiano Ronaldo

Juventus Italian Football Club announces the release of a collection of digital cards featuring its players. They can be purchased through the Solare blockchain platform.

Fans can not only collecttokens with football players, for example, with Cristiano Ronaldo, but also to trade them, as well as participate in virtual tournaments with prizes in cryptocurrency through the Fantasy app.

According to Solare representatives, some rare Juventus tokens have already been sold for more than $ 2000.

“Bitcoin is controlled by China”

The head of Ripple Brad Garlinghouse said that only four Chinese miners control 60% of the hashrate of the first cryptocurrency network. Ethereum, he said, is also extremely centralized.

“China controls the Bitcoin blockchain - four local miners account for more than 60% of the mining power. Overall, 80% of the hashrate of Bitcoin and Ethereum is concentrated in China. ”- said the head of the California startup.

Matum Greenspan, the founder of QuantumEconomics, expressed his indignation at the fact that Garlinghouse confused miners with pools and thereby clearly overestimated the degree of centralization of the first cryptocurrency network.

“” Four miners control 60% of the mining power of bitcoin? ” I think you meant four mining pools ??? It was probably just a reservation ?! ”Greenspan wrote.

According to a recent study by CoinMetrics,XRP token is one of the most centralized assets - more than 85% of coins are concentrated at the largest addresses. Bitcoin has a much better situation with this - about 11% of the total cryptocurrency supply is stored on the addresses of the largest whales.

The “Simple Solution” by the FSB

The Federal Security Service (FSB) has proposed a ban on the issuance and use of digital currencies as a means of payment in Russia.

“A decision was made following a meeting in the government to establish a ban on the issuance and use of cryptocurrencies as a means of payment”- said Dmitry Chernyshenko, Deputy Prime Minister for Digital Economy and Innovation.

According to Baza, the FSB also proposed makingchanges to the bill on digital financial assets. The agency wants to allow the exchange of digital assets only through specialized operators, and the latter to oblige the owners of cryptocurrencies to be identified.

For the final amendments to the bill, a clear position of the Central Bank of the Russian Federation is needed, which has not yet responded to the proposals of the FSB.

Cryptogrill Beta

The Ukrainian cryptocurrency exchange Kuna conducted the technical launch of the stablecoin UAX, tied to the value of the hryvnia.

Cryptogryvna created on the Ethereum blockchain, supports the standards ERC20 and ERC865. The first issue is 1,000,000 UAX tokens.

“To maintain stability and securityUAX token, we use a method that allows you to maintain a single reserve ratio between the UAX cryptocurrency token and the associated asset in fiat currency. This method is called Proof-of-Reserve or “Proof of Reserve”., - noted the developers.

Stablecoin is currently in the open phase.beta testing for a limited range of Kuna.io users. The main goals of the first stage of UAX implementation are integration with market players and technical tests in DeFi platforms.

The beta test will last until March 20 and the official presentation of the project will take place on the same day as part of the BlockchainUA conference.

Our YouTube

This week, under the heading “Explain the crypt,” Solana startup CEO Anatoly Yakovenko spoke about new blockchains and promising technologies like sharding.

... and Cryptopay co-founder Georgy Basiladze talked about the problems of development of payment systems in modern realities.