Cryptocurrency News

According to the latest news reports, Malta has taken significant steps to coming closer to its target of becoming the Blockchain Island of the world. This week, the lawmakers of the land passed three different bills – all related to cryptocurrency regulations.

According to the latest news reports, the Bitcoin Core community is revealing a long-held secret – the private key that the protocol’s creator had handed over to the Core community’s developers which activated the alert system of the Bitcoin network. This alert system was created so that a text warning could be flashed to the entire Bitcoin community in case there was a danger to the security of the network in any way.

TRON’s Independence Day arrived as the world’s 11th most valuable cryptocurrency’s Blockchain went live on Monday, June 25. TRX, with a market capitalization of $2.7 billion, has finally activated its mainnet after a month-long migration from the Ethereum network to its own independent Blockchain.

Sunday turned out to be the worst day of 2018 for Bitcoin as its price plunged to the lowest it has been the entire year. According to data from Coinmarketcap, the world’s number one cryptocurrency dropped to a token price of $5,835.31 at 09:35 UTC on June 25, beating the year’s previous low of $5920.72 on February 6. This new low has brought the crypto’s decline from its December 2017 high of nearly $20,000 to 68%.

According to the founder of Trading Analysis, Todd Gordon, the world’s leading cryptocurrency Bitcoin is expected to rebound above $10,000 as soon as 2019 arrives. However, he also said that before this figure gets hit, the digital currency will have to drop by at least $4,000.

Japanese officials on June 22 announced that the now defunct cryptocurrency exchange Mt. Gox has formally commenced with civil rehabilitation proceedings and Attorney Nobuaki Kobayashi is to act as the trustee for this process.

A consortium of organizations as well as startups is sponsoring a new blockchain research centre which will be headquartered at Stanford University. Vitalik Buterin, the co-founder of Ethereum tweeted his support as well as his Foundation’s for this new research centre.

This week, on Wednesday, about 35 billion won (~$31 million) worth of cryptocurrencies were stolen in a hack-attack from South Korean cryptocurrency exchange, Bithumb. Despite the fact that it has been more than 24 hours since the news broke, details are still sketchy about what happened. However, the impact of the hack is just beginning to be felt – like ripples in a pond.

The Bank of International Settlements published its annual economic report on Sunday June 17. As part of the report, the BIS conducted an analysis of cryptocurrencies, wherein the organization concluded that cryptocurrencies were not scalable enough to function as money.