The cryptocurrency cooled on Wednesday, with most major cryptocurrencies trading down less than 1 percent on the day. Here’s a look at some of the headlines that were moving the cryptocurrency market today — and which currencies were on the move.
Headlines
It’s a headline that has become all-too-familiar in the cryptocurrency world: another cryptocurrency exchange was hacked, this time in South Korea. Bithumb says at least $30 million of coins were stolen from its exchange, one of the busiest in the country. Earlier this month, Cybersecurity firm Carbon Black estimated that about $1.1 billion in cryptocurrencies have been stolen so far in 2018.
Cryptocurrency firm Tether has released documents from law firm Freeh, Sporkin & Sullivan LLP that attests that Tether had enough U.S. dollar reserves to back all of its virtual currency as of the beginning of June. The report comes a week after researchers from the University of Texas found that Tether may have been used to artificially inflate the price of bitcoin during its large 2017 rise.
Bitcoin critic and Goldman Sachs Group Inc GS CEO Lloyd Blankfein told the Economic Club of New York that bitcoin is “not for me.” Blankfein confirmed he doesn’t own any bitcoin, but conceded it would be “too arrogant” to completely dismiss the possibility of a mainstream global cryptocurrency at some point in the future.
Price Action
The Bitcoin Investment Trust GBTC traded at $10.96, down 0.3 percent.
Here’s how several top crypto investments fared Monday. Prices are as of 3:45 p.m. ET and reflect the previous 24 hours.
- Bitcoin gained 0.4 percent to $6,782;
- Ethereum gained 0.3 percent to $536;
- Ripple declined 0.5 percent to 54 cents;
- Bitcoin Cash declined 0.6 percent to $889;
- EOS declined 0.8 percent to $10.53.
The three cryptocurrencies with at least $1-million market caps that have made the biggest gains over the past 24 hours are:
- Cream: $1.3-million market cap, 194.9-percent gain.
- Fantomcoin: $1.2-million market cap, 84.3-percent gain.
- Carboncoin: $2.0-million market cap, 79.1-percent gain.
The three cryptocurrencies hit hardest in the past 24 hours were:
- LiteDoge: $1.1-million market cap, 42.0-percent decline.
- BunnyCoin: $1.5-million market cap, 31.6-percent decline.
- KiloCoin: $4.7-million market cap, 27.6-percent decline.
Related Links:
Is The Price Of Bitcoin Becoming More Or Less Volatile After Security Breaches?
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