Market Update 10.03.18 -Hacker Prints 235 Million Pigeoncoin

| Publish date: 10/03/2018
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Hacker Prints 235 Million Pigeoncoin

A few weeks ago, a severe bug was found in Bitcoin’s code. Now, that weakness was exploited by a hacker, but on a lesser known cryptocurrency called Pigeoncoin. The developers of Pigeoncoin confirmed on Tuesday that an unknown attacker succeeded in printing 235 million tokens, worth about $15,000 dollars, on September 26.

The reason the attacker was able to do so was because while the bug was on a Bitcoin code, that code was public and, over the years, many other coins have borrowed that code and incorporated in on their networks. So, while the main code was fixed, other coins are still vulnerable to attacks if they carry that code.

Read the rest of the story here.

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Brave CEO Suggests GDPR as Regulatory Model

The Chief Executive Officer of the decentralized browser Brave, Brendan Eich wrote an open letter on September 29, calling for members of the United States Senate Committee on Commerce, Science and Transportation to consider Europe’s GDPR (General Data Protection Regulation) as a model for their country’s data protection regulations.

The GDPR was first proposed by the European Commission in 2012, and went into effect on May 25 this year. The aim of this regulatory framework is to create a standard data protection law across Europe and also help people get better control over how their personal data is stored and used.

Read more about this story here.

Coinbase Could be Valued at $8 Billion

The cryptocurrency exchange and wallet service based out of San Francisco, Coinbase is concluding negotiations that could take the company’s value to $8 billion. According to anonymous sources, Coinbase is negotiating with Tiger Global as well its shareholders about a possible $500 million investment. According to these sources, $250 million would be added to Coinbase’s treasury, while $250 million would be used to buy out its existing investors.

A deal between Coinbase and Tiger Global would make the cryptocurrency exchange the most valuable startup of the year.

Find out more about the deal here.

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Total Market Cap: Oct 03

The cryptocurrency market’s trading volume inched up $0.01 billion to $14.18 billion. The market’s capitalization has fallen another $7.24 billion to $215.07 billion.

Bitcoin Price Analysis: Oct 03

Bitcoin’s price is now $6484.82, dropping by 1.73% in the last day. The crypto’s valuation is $112.11 billion and its trading volume is $4.16 billion.

Ethereum Price Analysis: Oct 03

Ethereum’s price is $219.71, falling 4.41% since yesterday. The altcoin’s value is $22.41 billion and its trade volume is $1.69 billion.

State of the Top 10 Cryptocurrencies: Oct 03

80% of the top ten cryptocurrencies are currently trading in the red so far today. The biggest losers for the day so far are Ripple, whose token price has dropped by 8.58%, Stellar, whose token price has lost 6.63% and Litecoin, which has dropped by 5.47% in trading. Monero, which gained a marginal 0.07%, and Tether, which went up by 0.6% are the only two tokens that are currently trading up, albeit marginally.

  • Bitcoin’s current trading price is $6484.82, dropping 1.73%. Bitcoin’s market value is $112.11 billion.
  • Ethereum’s current trading price is $219.71%, dropping 4.41%. Ethereum’s market value is $22.41 billion.
  • Ripple’s current trading price is $0.518232, dropping 8.58%. Ripple’s market value is $20.69 billion.
  • Bitcoin Cash’s current trading price is $515.49, dropping 5.03%. Bitcoin Cash’s market value is $8.95 billion.
  • EOS’s current trading price is $5.53, dropping 3.06%. EOS’s market value is $5 billion.
  • Stellar’s current trading price is $0.241182, dropping 6.63%. Stellar’s market value is $4.53 billion.
  • Litecoin’s current trading price is $57.72, dropping 5.47%. Litecoin’s market value is $3.38 billion.
  • Tether’s current trading price is $1, rising 0.6%. Tether’s market value is $2.81 billion.
  • Cardano’s current trading price is $0.079817, dropping 5.14%. Cardano’s market value is $2.06 billion.
  • Monero’s current trading price is $114.35, rising 0.07%. Monero’s market value is $1.88 billion.
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