Bitcoin prices have risen today after briefly falling below $40,000 in early Wednesday trade for the first time since August. By market capitalization, the world's most valuable cryptocurrency was trading at 43,656.87, up roughly 4%. Although Bitcoin is up 49% year to far, it is still well behind its April high of near $65,000.
The oldest bitcoin teaching resource, BitcoinOrg, has recently fallen prey to a fake cryptocurrency giveaway fraud. The website has been taken down for the time being, and the pseudonymous developer behind it has blamed Cloudflare for the downtime.
One of the programmers of SushiSwap, a prominent decentralized exchange, has dismissed a rumored vulnerability discovered by a white-hat hacker looking through their smart contracts.
According to media sources, the hacker claimed to have discovered a flaw that might jeopardize more than $1 billion in user cash, and that they went public with the knowledge following unsuccessful attempts to contact SushiSwap's creators.
According to CoinDCX Research Team, since the crypto market's sudden loss of US$250 billion in value earlier in the week, bitcoin has seen an upward recovery, charting a 3.01% price increase over the past 24 hours.
This week saw major cryptos such as BTC, ETH, and Cardano among others dipping into the reds as the House Democrats push for the crypto tax plans and senators demand greater regulatory guidelines from the SEC. Despite cryptocurrency being decentralized from traditional markets, the sector still felt the ripple effect of the Evergrande crisis.
While bitcoin has been likened to gold and positioned as an asset class, its dip at the start of the week was a divergence from gold's hike in price, with investors seeking refuge from the traditional safe-haven asset. Could this be a sign of the crypto industry's maturity?, CoinDCX Research Team.
- Bitcoin: $43,574.84
- Ethereum: $3,072.72
- Cardano: $2.21
- Tether: $1.00
- Binance Coin: $372.35
- XRP: $0.9814
- Solana: $144.28
- Polkadot: $31.01