Market Update 6.20.18 – Bithumb Victim of $31 Million Hack-Attack
Market News
Bithumb Victim of $31 Million Hack-Attack
The South Korean cryptocurrency exchange Bithumb, one of the largest in the country in terms of trading volume, announced that it was the victim of a hack-attack where the thieves got away with 35 billion won (~$31 million) worth of cryptocurrencies. According to the announcement, the hack took place between late Tuesday night and early Wednesday morning, Korean time.
Bithumb has not yet disclosed which cryptocurrencies were stolen or what were the amounts, however, the exchange promised that all losses would be covered by them. In light of this hack, the exchanges has closed all asset withdrawals and deposits.
Find out more about the story here.
Anheuser-Busch InBev Using Ethereum Blockchain
The world’s biggest brewer, Anheuser-Busch InBev, launched its newest ad campaign via the Kiip mobile marketing application. This app uses the Ethereum blockchain to track and record data. According to the company’s press release, by using this app, the brewing giant hopes to track and expand the reach of specific ads.
This campaign, which was launched 2 weeks ago, has featured five of the company’s most popular brands – Budweiser, Estrellas, Bud Light, Limeatrita and Michelob Ultra.
Find out more here.
CBOE President: ICO Market to Face Reckoning
According to the CBOE Global Markets’ President Chris Concannon, the ICO (Initial Coin Offering) market could very soon face a reckoning in the form of stronger regulations. Concannon feels that this regulatory reckoning will hit the ICO market in two waves. The first set of regulations will have the SEC officially classifying ICOs as unregulated securities, which would lead to the holdings of investors being deemed as “valueless”. This would lead to the second wave – an avalanche of class-action lawsuits against the companies launching the ICO projects.
According to Concannon, investors should really worry about the uncertainty within the ICO sector. He stated that if a company offered an unregistered token, then, technically, the company would have issued an unregistered security, which would then legally be an unregistered underwriter. This would mean that all companies that issues said tokens would be liable to its investors if they choose to sue them.
Find out more here.
Total Market Cap: June 20
The volume of trading in the cryptocurrency market slipped a little today to $14.22 billion, while the value of the market stayed steady at $282.73 billion.
Bitcoin Price Analysis: June 20
Since yesterday, the price of Bitcoin dropped 1.67% to $6625.28. BTC’s volume of trading is at $4.20 billion and its value is $113.36 billion.
Ethereum Price Analysis: June 20
Ethereum gained 0.5% to $521.44. Trading volume since yesterday has gone up to $1.46 billion and market cap for the altcoin is at $52.28 billion.
State of the Top 10 Cryptocurrencies: June 20
Of the top ten cryptocurrencies in the world by market capitalization, only Ether and TRON saw gains today. ETH’s price went up by 0.5%, while TRON’s price gained the most by 1.5%. The biggest loser so far has been IOTA, whose price fell by 4.23%. EOS also dropped by 3.21%, putting it in second place for losses today.
- Bitcoin dropped 1.67% to $6625.28. The market value for the asset is $113.36 billion.
- Ethereum climbed 0.5% to $521.44. The market value for the asset is $52.28 billion.
- Ripple dropped 2.01% to $0.528564. The market value for the asset is $20.74 billion.
- Bitcoin Cash dropped 1.66% to $869.54. The market value for the asset is $14.95 billion.
- EOS dropped 3.21% to $10.23. The market value for the asset is $9.16 billion.
- Litecoin dropped 2.18% to $96.20. The market value for the asset is $5.48 billion.
- Stellar dropped 2.82% to $0.228641. The market value for the asset is $4.25 billion.
- Cardano dropped 3.15% to $0.157873. The market value for the asset is $4.09 billion.
- IOTA dropped 4.23% to $1.13. The market value for the asset is $3.13 billion.
- TRON climbed 1.50% to $0.045633. The market value for the asset is $3 billion.