Connect with us

Blockchain

It’s Not Just Crypto: 2,000 Robinhood Accounts Compromised

Published

on

  • Hackers had a field run a couple of days ago, targeting the popular retail-oriented trading application Robinhood.
  • Almost 2,000 Robinhood Markets accounts were compromised in a spree that saw customers’ funds siphoned off, according to a Bloomberg report.
  • Robinhood disclosed that a “limited number” of their customers had been struck by hackers who managed to gain access through breaches of personal email accounts outside of the application.
  • “The security of Robinhood customer accounts is a top priority and something we take very seriously.” – The company said in a statement.
  • The trading application reportedly has over 13 million customer accounts and is considering whether to add a phone number in combination with other tools, a person familiar with the matter told Bloomberg.
You Might Also Like:
  • A few of the victims said that they failed to find any signs of criminals compromising their emails. On the other hand, however, some said that their brokerage accounts were compromised despite the two-factor authentication.
  • In late 2019, a massive email breach took place at one of the most popular Bitcoin margin trading exchanges, BitMEX. The company clarified that nothing beyond email addresses was leaked, though this raised serious concerns with respect to the security measures put in place.
  • The latest events show that it’s not just the cryptocurrency field that hackers are targeting but also traditional market trading applications and services, highlighting the importance of turnkey security solutions.
SPECIAL OFFER (Sponsored)

Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).


Source: https://cryptopotato.com/its-not-just-crypto-2000-robinhood-accounts-compromised/

Blockchain

Has Binance Coin paved for itself a profitable position?

Published

on

While Binance is slowing becoming one of the most important names in the cryptocurrency industry, its native token, Binance Coin, is also gaining a lot of traction and interest this year. One of the market’s top performers in 2020, Binance Coin has flipped its objective as just an alternative to avoid transaction fees.

Source: BNB/USD on Trading View

Binance Coin, since 1 January 2020, has noted an impressive growth rate of 127%. However, if calculated from the bottom on 13 March, the ascent is as significant as $377.8%. That is extremely impressive for a token that is exchange-centric. After recording an ATH of $33.38 last month, it is fair to say that it might be on its way to another high, before the end of 2020.

Source: Coinstats

While the crypto-asset has done well on its own, its presence is slowly being felt by the rest of the space too. In fact, BNB’s on-chain metrics are indicative of its correlation with the rest of the market, including Bitcoin.

Image

Source: Twitter

According to Santiment, BNB’s active addresses recently registered an uptick, following which, assets correlated to BNB exhibited a bullish rally. Bitcoin is one of the prime examples, and the interesting thing is such a correlation is not limited to one year alone.

The attached chart dates back to the start of April 2019, and a prominent spike in BTC’s prices was correlated with a rise in BNB’s daily active addresses. According to Santiment,

These DAA activity rises often foreshadow BTC price rises.”

Why are Bitcoin and BNB increasingly getting correlated?

Stemming down to the most technical reason, it is possibly due to Binance Coin’s quarterly burning. When Binance Coin was first launched, its supply was 200 million. At the moment, it is close to 150 million. Only last week, BNB concluded its 13th quarterly burn, wherein a total of 2,253,888 BNBs worth close to $68 million were burned.

The burning process will be followed until the total supply gets to 100 million, largely drawing parallels to Bitcoin’s own scarcity functionality.

While 100 million for BNB and 21 million for BTC is still quite off in terms of supply, the market cap is expected to be closer in the future, as BNB’s price rises.

Bottom line, “by reducing the number of tokens in circulation, the value of the remaining tokens naturally goes up due to supply and demand economics (assuming the demand remains constant).” Both assets have largely followed the same logic.

Hence, the increasing correlation makes sense from a fundamental point of view.

That’s not all, however, as recent reports have indicated that traders are taking notice of BNB as Binance Coin has made its way into several notable portfolios in 2020. After Bitcoin and Ethereum, Binance Coin is the most picked crypto-asset this year, further verifying its growing presence in the industry. While the markets remain uncertain until the next rally, Binance Coin is putting itself in a profitable position.

Source: https://eng.ambcrypto.com/binance-coin-profitable-position

Continue Reading

Blockchain

HODLers: Most Crypto Investors Hold Majority In Bitcoin Over Altcoins, Survey Finds

Published

on

As Bitcoin price recorded a new yearly high, most of the participants in a recent survey shared that they hold the majority of their holdings in Bitcoin rather than altcoins.

Bitcoin traders are basking in profit as October turns out to be a good month for BTC.

46% Of People Allocate More Than 50% To BTC

Crypto commentator and analyst Josh Rager took to Twitter to ask crypto users how much of their portfolio is allocated to Bitcoin. Voters had to choose from one of four options that best describe their portfolio.

The result of the poll was quite interesting. As much as 35% of traders revealed they dedicated less than 10% of their portfolio to the most valuable cryptocurrency. This category is bullish on altcoins and had the highest number of votes in the poll.josh_rager_poll

A total of 23.2% maintained that Bitcoin holds a significant percentage in their portfolio. According to the results, these people dedicate between 51% to 89% of their portfolio to Bitcoin.

You Might Also Like:

The third-highest category consists of Bitcoin maximalists who are very bullish on Bitcoin. These voters, which made up 22% of the poll result, said that 90 to 100% of their portfolio is allocated to the king coin.

Lastly, the fourth category, consisting of 18% of voters, said they allocate between 11 to 50% to BTC.

In other words, almost 46% of the respondents shared that they hold over half of their portfolio in Bitcoin rather than altcoins.

Bitcoins Hits $13,200, Altcoins Suffer

Elsewhere, altcoins have been experiencing terrible nightmares since last month. An earlier report suggested that Bitcoin’s fresh surge is crushing both altcoins’ prices and market dominance.

At the time of writing, Bitcoin has blasted through important resistance levels, reaching a fresh 2020 high of $13,217 on Binance. The cryptocurrency now holds a market dominance of about 61%.

Although the speculation around is the current surge is caused by money flowing from altcoins into Bitcoin, a fresh analysis debunked has debunked that. As CryptoPotato reported, Bitcoin’s rising value is likely caused by new money entering the crypto market.

Moreover, the latest surge seemed to be primed largely by the news that PayPal, the world’s largest online payment processor, will start allowing users to buy, sell, and hold Bitcoin and other cryptocurrencies.

SPECIAL OFFER (Sponsored)

Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).


Source: https://cryptopotato.com/hodlers-most-crypto-investors-hold-majority-in-bitcoin-over-altcoins-survey-finds/

Continue Reading

Blockchain

BTC Price Analysis: After Breaking 2020 High, Is Bitcoin Eyeing $14K?

Published

on

Bitcoin price has managed to avoid all 3 unfilled CME gaps this week and go on to break the $13,235 level for the first time since July 10, 2019 – 469 days ago.

The catalyst for the 11% surge was the breaking news from PayPal yesterday that the payments giant will soon facilitate BTC and other crypto-asset payments.

According to data from Datamish, the Paypal rally caused a $70.8M short squeeze on BitMEX as an eye-popping $31 billion returned to the crypto market during yesterday’s frenzy. This will have undoubtedly helped catapult prices beyond the milestone $12K and $13K levels as short traders buy back into BTC to cover losses.

Price Levels to Watch in the Short-Term

On the weekly BTC/USD chart, we can see that prices fell just shy of the 0.618 Fibonacci resistance at $13,360. Between this price point and the $13,890 level above, we have a major resistance zone (red shaded area) that has not been closed above since January 15, 2018 – during the huge crash from Bitcoin’s all-time high of $20,000.

This will be a massive psychological barrier for bullish traders to overcome, and will need considerable momentum to break it successfully.

Just above this area, we also have the upper resistance line of a broadening wedge pattern that bitcoin price has been tracking inside of since April 27, 2020, on the weekly chart (yellow lines). This currently sits around the $14,000 level. It’s possible that we could see a reaction at this trend line if prices managed to break through the aforementioned red zone.

From there, the most obvious daily resistances above this are the $14,600, $15,400, and $15,800 levels, before we get to the 0.786 Fibonacci level at $16,150.

Looking at potential supports, we have a key S/R zone (green shaded area) between $11,950 and $12,300, which should create some buying pressure to push back against a bearish decline.

Underneath that, we have the 0.5 Fibonacci level at $11,400, the daily 50 EMA (blue) at approx $11,170, and the support line of the broadening wedge pattern at around the $10,900 area.

With Bitcoin now dangerously close to breaking into the overbought region on the weekly RSI for the first time since July 2019, it’s possible that we could see a sharp decline as trading bots are triggered by the indicator before a new leg of the uptrend begins.

Total market capital: $395 billion
Bitcoin market capital: $ 237 billion
Bitcoin dominance: 60.1%

*Data by Coingecko.

Bitstamp BTC/USD Weekly Chart

bitcoin trading
BTC/USD chart via Tradingview
SPECIAL OFFER (Sponsored)

Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.


Source: https://cryptopotato.com/btc-price-analysis-after-breaking-2020-high-is-bitcoin-eyeing-14k/

Continue Reading

Trending