Category Archives: Ethereum
Bitcoin Ordinals a Success? BTC set to Gain More Ethereum … – CCN.com
Ordinals are changing the way people use the Bitcoin network
Many often credit Bitcoin Ordinals with significantly boosting the transaction volume on the Bitcoin network. Now, nearly 2 years after the upgrade that first enabled Ordinals, developers are using the technology to build Ethereum-style capabilities into the blockchain.
But with Ethereum advancing its own roadmap toward greater transaction volumes and more complex on-chain functions, does Bitcoin need to keep up?
First introduced in November 2021, Bitcoin Ordinals enable the numbering, identification, and inscription of individual Satoshis, each representing one hundred millionth of a Bitcoin.
Thanks to Ordinals, the cost of inscribing data on the Bitcoin blockchain has dramatically reduced, and up to a 4 MB limit, its possible to inscribe any kind of data on a single Satoshi.
Since the 2021 upgrade, Ordinals have fueled a surge in activity on the Bitcoin network, driven by the development of new use cases like the BRC-20 NFT standard.
According to Dune data, over 35M Ordinals inscriptions have occurred to date. Although the vast majority of these are text-based, more complex data formats have also helped power the surge in Ordinals inscriptions.
For example, users have recorded over 760,000 PNG images and more than 229,000 WEBP images on-chain as Bitcoin Ordinals.
Advocates assert that Ordinals play a crucial role in diversifying the functionality of the Bitcoin network and are essential for ensuring its long-term survival.
However, not everyone has been happy with Bitcoins evolution to embrace a wider variety of transaction types. Purists argue that the blockchain should only be for its original purpose: the peer-to-peer transfer of value.
Facing a slew of Bitcoin-based meme tokens and NFTs, critics have pointed out that transactions stemming from Ordinals inscriptions have occasionally clogged the network, leading to higher fees for users.
As well as expanding the range of Bitcoin token types available, the same upgrade that enabled Ordinals inscriptions is also leading to the development of new off-chain protocols.
For example, several projects have recently made advances toward realizing the vision of Ethereum-style rollups for Bitcoin.
By moving computation off-chain, recent innovations by Kasar Labs and Chainway could significantly scale transactions on the Bitcoin network and trigger an L2 revolution akin to Ethereums.
Meanwhile, on October 9, a White Paper for a new system dubbed BitVM was published. The projects developers claim that BitVM enables the verification of any computable function on Bitcoin. Additionally, unless there are disputes with transactions, the resulting on-chain footprint remains minimal.
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Bitcoin Ordinals a Success? BTC set to Gain More Ethereum ... - CCN.com
Bitcoin and Solana products see largest inflows as Ethereum ETFs … – Kitco NEWS
(Kitco News) - Digital asset investment products recorded a second consecutive week of inflows for the week ending October 6 as the assets under management across the various products rose $78 million amid multi-year highs in the U.S. dollar and 10-year Treasury note.
According to data provided by CoinShares, trading volumes for exchange-traded products (ETPs) rose by $1.13 billion for the week, and Bitcoins (BTC) volumes on trust exchanges rose 16%.
The inflows come as the global financial outlook continues to deteriorate, with countries like the U.S. seeing record-high levels of debt, while the price of oil risks climbing above $100 per barrel in the near term amid a fresh confrontation between Israel and Hamas that threatens to plunge the entire region into chaos.
Digital asset fund flows. Source: CoinShares
There is a notable difference between Europe and the Americas, with 90% of the inflows coming from Germany and Switzerland while the U.S. and Canada accounted for just $9 million worth of inflows combined, suggesting a continued divergence in sentiment, according to CoinShares head of research James Butterfill.
Flows by region. Source: CoinShares
Breaking it down by asset, Bitcoin was the main beneficiary with $43 million worth of inflows, although some investors saw recent price strength as an opportunity to add to short-bitcoin positions, which saw inflows of US$1.2m over the same period, Butterfill said.
Flows by asset. Source: CoinShares
Solana saw the second largest inflows with $23.9 million, the token's largest week of inflows since March 2022. It continues to assert itself as the altcoin of choice, particularly in light of the recent Ethereum product launches, Butterfill said.
Last week was an important test for Ethereum investor appetite following the launch of 6 futures-based ETFs in the US, he added. The new ETFs attracted just under US$10m in the first week, highlighting tepid appetite, particularly in comparison to the launch of futures-based Bitcoin ETFs, which saw US$1bn in the first week.
Butterfill attributed the unenthusiastic response to poor investor appetite for digital assets at present, and said it was unfair to compare to the Bitcoin futures ETF launches in October 2021, as appetite was much higher for the assets class overall at that time.
While inflows into digital asset products have been on the rise in recent weeks, the flare-up in fighting between Hamas and Israel threatens to reverse that trend, according to Bloomberg Intelligence senior macro strategist Mike McGlone.
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.
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Bitcoin and Solana products see largest inflows as Ethereum ETFs ... - Kitco NEWS
BlackRock Insider Primes Crypto For A Huge $17.7 Trillion Wall Street Earthquake That Could Be About To Hit The Price Of Bitcoin, Ethereum And XRP -…
BitcoinBTC and other major cryptocurrencies, including ethereum and Ripple's XRPXRP, have been rocked by the Federal Reserve this yearcreating what could become a bitcoin price nightmare.
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The bitcoin price, up almost 70% so far this year, helped by BlackRockBLK, the world's largest fund manager that looks after around $10 trillion worth of assets, driving a surge of Wall Street bitcoin and crypto interest.
Now, a former BlackRock managing director has predicted it's only a matter of months until the U.S. Securities and Exchange Commission (SEC) approves a long-awaited bitcoin spot exchange-traded fund (ETF), giving funds that manage $17.7 trillion worth of assets the green light.
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"The SEC will probably approve [all spot bitcoin ETF applications] at the same time; I dont think they want to give anybody first mover advantage," former BlackRock managing director Steven Schoenfield said this week at a London conference, it was reported by Decrypt.
Schoenfield gave the SEC "three to six months" until it approves a bitcoin spot ETF.
Last month, $1.5 trillion manager Franklin Templeton filed with the SEC for a bitcoin spot ETF, joining a flurry of applications that was kicked off by the world's largest asset manager BlackRock in June and includes Wall Street giants Fidelity, Invesco Galaxy, WisdomTree.
Schoenfield pointed to a recent decision by the SEC to delay until early next year at the latest decisions on a handful of prominent bitcoin spot ETF applications as accelerating the process.
"Instead of completely rejecting the whole list, they've asked for comments, which is a marginal but significant improvement in the dialogue," Shoenfield said.
Meanwhile, the SEC has been instructed by U.S. lawmakers to reexamine crypto asset manager Greyscale's application to convert its flagship bitcoin trust to a fully-fledged bitcoin spot ETF. "[The SEC is] most likely going to have to allow the Grayscale Bitcoin Trust to be converted into an ETF," Schoenfield said.
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The bitcoin price and wider crypto market have, however, lost ground since surging higher in the aftermath of BlackRock's landmark bitcoin spot ETF filing.
"The entire crypto market appears to be holding its breath while it waits for the U.S. SEC to begin approving bitcoin spot ETFs," Swarm Markets co-founder Timo Lehes said in emailed comments.
"But in the meantime it would appear asset managers are already beginning to adapt their offerings depending on what happens next in the market. There is evidently an increasing move from smaller providers such as Valkyrie and VanEck to diversify out of bitcoin and into ethereum. This will give them an added selling point once the big institutional players are unleashed onto the bitcoin ETF market."
I am a journalist with significant experience covering technology, finance, economics, and business around the world. As the founding editor of Verdict.co.uk I reported on how technology is changing business, political trends, and the latest culture and lifestyle. I have covered the rise of bitcoin and cryptocurrency since 2012 and have charted its emergence as a niche technology into the greatest threat to the established financial system the world has ever seen and the most important new technology since the internet itself. I have worked and written for CityAM, the Financial Times, and the New Statesman, amongst others. Follow me on Twitter @billybambrough or email me on billyATbillybambrough.com.Disclosure: I occasionally hold some small amount of bitcoin and other cryptocurrencies.
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Huobi Reclaims $8 Million In Stolen Ethereum After Offering Bounty to Hacker – Decrypt
Huobi Gloabls cryptocurrency exchange has recovered millions in stolen funds from a hacker who absconded with them in September after making contact with the attacker and negotiating a deal to see it returned.
Justin Sun, a Huobi Global investor and HTX adviser, took to Twitter on Saturday to announce that $8 million in stolen Ether (ETH) was restored and that the hacker made the right choice to accept HTXs offer.
"We have confirmed that the hacker has fully returned all funds, as promised, and we have also paid the hack a white hat bonus of 250 ETH," wrote Sun in a post. Providing full security for user assets is always our goal to strive for!
HTX first disclosed the hack on September 25 after one of the exchange's hot wallets was compromised and drained of 5,000 ETH.
At the time, Sun assured customers that the amount was a "relatively small sum" versus what he said was HTXs $3 billion in assets. Sun also said at the time that HTX would offer 5% of the stolen ETH as a "white-hat reward" to encourage the hacker to return the fundsbut warned that the firm would contact law enforcement if the offer wasn't accepted within a week.
Crypto firms have sometimes found themselves left negotiating with hackers to get stolen funds back rather than turning to law enforcement agencies for help. In more than one of these deals, the firm and the hacker were able to reach an agreement in which the bulk of the funds are restored, and a bounty is then paid to the hacker to close things out.
Hacks against cryptocurrency exchanges are a persistent risk, but the types of exchanges targeted have differed.
In the second quarter of 2023, there was a 63% increase in blockchain hacks compared to the same time last year, according to an Immunefi report from July. The company also found that most of the hacks happened on DeFi platforms, which lost $228 million across 79 incidents. By comparison, centralized exchangeslike HTXonly lost a reported $37 million across two incidents.
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Huobi Reclaims $8 Million In Stolen Ethereum After Offering Bounty to Hacker - Decrypt
Ethereum Classic (ETC) and Aave (AAVE) Holders Dumping their … – Finbold – Finance in Bold
Press Releases are sponsored content and not a part of Finbold's editorial content. For a full disclaimer, please . If you encounter any issues, kindly report them to [emailprotected]. Crypto assets/products can be highly risky. Never invest unless youre prepared to lose all the money you invest.
In the dynamic world of crypto, shifts in investor sentiment can lead to significant market movements. Recently, Ethereum Classic (ETC) and Aave (AAVE) holders have diverted their attention and resources to a new contender: Tradecurve Markets (TCRV).
Summary
>>Register For The Tradecurve Markets Presale<<
Ethereum Classic (ETC) is a hard fork of Ethereum (ETH). It launched in 2016 and rose to become a leading altcoin. Currently, Ethereum Classic ranks as a top 30 cryptocurrency by market capitalization, highlighting its influence.
Notably, its value proposition revolves around hosting and supporting decentralized applications (dApps). At the heart of the Ethereum Classic ecosystem is ETC, used to execute transactions and smart contract functions.
However, in recent times, there has been a growing exodus of investors. The key factor contributing to this departure is the need for significant ROI on investments.
Aave (AAVE) is a decentralized crypto lending platform. Significantly, it allows users to borrow and lend cryptocurrencies, with smart contracts used to automate this process. Further, Aave specializes in overcollaterized loans, meaning users will deposit more crypto than the amount they wish to borrow.
Moreover, Aaves unique value proposition makes it a key player in the decentralized finance (DeFi) space. Presently, it is a top 50 cryptocurrency, which underscores its dominance in the broader crypto market.
However, after declining by about 90% from its peak, holders are reconsidering their strategy. To this effect, some investors can be seen diversifying into more profitable crypto ventures.
Tradecurve Markets (TCRV) stands out in the Initial Coin Offering (ICO) arena for its innovative approach to trading. Notably, its novel idea, which aims to revolutionize the trading ecosystem, has been met with enthusiasm. Consequently, over $6.4 million has been raised in the ongoing presale, and more than 18,000 users have been onboarded.
Its unique solution in the crypto landscape will be a hybrid trading platform that intersects with centralized and decentralized exchanges. Therefore, users will enjoy the best of both worlds, including anonymity, institutional-level liquidity, and high leverage, to mention a few.
Furthermore, as an all-in-one trading platform, users will be able to trade diverse assets, not limited to cryptocurrencies. As a result, it will enable users to trade stocks, forex, commodities, and other financial instruments, in addition to cryptocurrency. Interestingly, all of this will be on a single account.
Moreover, it will be the only trading platform that allows users to deposit crypto and use it as collateral to trade derivatives without the need for KYC checks. Hence, by providing deep liquidity across thousands of assets and promising full anonymity, Tradecurve Markets is set to disrupt the trading world.
Meanwhile, its ongoing presale offers the opportunity to be an early adopter of the exciting project. The presale phase is currently at stage 6 at a price of only $0.03, which analysts forecast will rise by 100x after launch. Therefore, it comes as little surprise that investors in well-established tokens like Ethereum Classic and Aave are actively participating in its presale.
For more information about the Tradecurve Markets (TCRV) presale:
Website: https://tradecurvemarkets.com/
Buy presale: https://tradecurvemarkets.com/sign-up
Twitter: https://twitter.com/Tradecurveapp
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Ethereum Classic (ETC) and Aave (AAVE) Holders Dumping their ... - Finbold - Finance in Bold
Cryptocurrencies Price Prediction: Polkadot, Bitcoin & Ethereum Asian Wrap 10 October – FXStreet
Polkadot (DOT) price has been on a stealth downtrend since early in the year, recording lower highs and lower lows with the upside potential capped under a descending trendline. It comes as altcoins continue to lead the cryptocurrency market crash but things could change soon as DOT seems to be coiling up for a recovery rally.
Bitcoin price breached through the Exponential Moving Averages (EMA) this past week to trade above $27,500. The cryptocurrency has since been moving sideways; however, the declining bullishness spells trouble not only for BTC but its hard fork tokens, Bitcoin Cash and Bitcoin SV, as well.
Ethereum (ETH) price correlation to Bitcoin (BTC) has continued to widen since the mid-September reading, with the second-largest cryptocurrency by market capitalization now wandering on its own. With its bearish outlook, ETH has often rubbed longs the wrong way, compelling them to close their positions to avoid more severe losses.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.
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Cryptocurrencies Price Prediction: Polkadot, Bitcoin & Ethereum Asian Wrap 10 October - FXStreet
Feds Flag More Bitcoin, Ethereum Addresses Tied to Chinese Fentanyl Trade – Decrypt
The United States Treasurys Office of Foreign Assets Control (OFAC) added another batch of crypto wallets from individuals and companies to its specially designated nationals (SDN) list on Tuesday, all tied to illegal fentanyl trade.
The drug trafficking network, primarily centered in China, used a variety of cryptocurrencies to facilitate some of its operations. Six entities and their digital wallet addresses have now been flagged by the government, including five individuals and one companyValerian Labs.
The addresses identified by OFAC as part of this action collectively received just under $3.8 million worth of cryptocurrency, representing huge quantities of drugs potentially trafficked into the United States and other countries, wrote blockchain surveillance firm Chainalysis in a blog post on the matter.
A total of 17 wallet addresses were identified in OFACs action, spanning networks including Bitcoin, Ethereum, and Tron. Most illicit transactions on the latter two blockchains were received through stablecoinscrypto tokens backed by relatively price-stable fiat currencies, such as U.S. dollars.
Besides Valerian Labs, the five individuals wallets are all hosted at the same centralized crypto exchange, where they each received hundreds of thousands of dollars worth of cryptocurrency. The exchange in question was not identified.
Each wallet received funds through a long series of small transfers in consistent amounts from both personal wallets and other mainstream exchanges. For Chainalysis, the pattern of consistent payments was an indication of the sale of specific goodsin this case, fentanyl and associated precursor chemicals.
Crypto-based fentanyl sales worldwide are on the rise. In May, Chainalysis published a report finding that China-based fentanyl sellers have received $37.8 million worth of cryptocurrency since 2018.
Though the U.S. Treasury has already sanctioned Bitcoin addresses linked to such suppliers, Tuesdays action is the first to target addresses on Tron. Last month, OFAC also sanctioned an Ethereum address tied to a member of a Mexican money laundering network who allegedly used crypto to transfer fentanyl proceeds across the border.
The sanctions against the individuals and businesses associated with this criminal network are an important step in preventing the abuse of cryptocurrency by drug traffickers, as well as a reminder of the depth of the problem, Chainalysis concluded.
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Feds Flag More Bitcoin, Ethereum Addresses Tied to Chinese Fentanyl Trade - Decrypt
If You Dodged Trump NFTs And Invested $100 In Bitcoin, Ethereum, Dogecoin On His Niece’s Advice, Here’s H – Benzinga
October 9, 2023 7:11 AM | 1 min read
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Former President Donald Trumps latest business venture has sparked controversy and skepticism among many Americans.
What Happened: Rather than announcing his 2024 running mate or sharing other presidential campaign news, Trump introduced the sale of non-fungible tokens (NFTs) depicting himself in various characters, such as a superhero, cowboy, and astronaut. Despite the initial hype and quick sellout, Trumps niece, Mary Trump, voiced her concerns about the venture on her podcast show, claiming it to be a scam.
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Its clearly a scam, she said. Please dont buy them.
Will The SEC Finally Approve Long-Awaited Bitcoin Spot ETF? Ask industry experts directly at Benzinga's Future of Digital Assets event happening in NYC on Nov. 14, 2023. Be a part of the discussions where you won't just be a passive spectator. Don't let this chance slip away secure early bird discounted tickets now!
See More: A Stay At The Floating Palace From James Bond's Octopussy
Why It Matters: If you had invested $100 investment in major cryptocurrencies such as Bitcoin, Ethereum, and Dogecoin.
Prices (Dec. 15, 2022):
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Current Prices:
Considering these figures, lets calculate the value of a $100 investment in each cryptocurrency today:
Bitcoin: $159.80 Ethereum: $127.64 Dogecoin: $69.77
In total, your $300 investment on January 20, 2021, would now be worth approximately $357.21.
Read Next: Heres How Much You Should Invest In Shiba Inu Today For A $1M Payday If SHIB Hits 1 Cent?
Photo courtesy: Collecttrumpcards.com
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This Week in Coins: Green CandlesBut Barelyfor Bitcoin and Ethereum as Global Adoption Grows – Decrypt
Illustration by Mitchell Preffer for Decrypt.
Bitcoin (BTC) and Ethereum (ETH) started the weekend with slightly higher prices than seven days ago.
The worlds biggest cryptocurrency currently trades for $25,815, which is an increase of about 0.6% over the week, while its closest runner-up grew 0.8% to change hands at $1,630.
Many other leading cryptocurrencies have also posted similar small gains. There are no substantial changes to the price of any of the top thirty cryptocurrencies by market capitalization from last weekend, except Stellar (XLM).
XLM holders saw their stash grow 10% over the week, and the token now trades for $0.124846. The rally appears to have been caused by a tweet from the Stellar team, posted on Saturday, that says, Something cool is dropping in 10 days.
After the slow news cycles of the last fortnight, this week saw a return to the usual slew of adoption announcements, although any indication of political breakthroughs for crypto over in Washington was pretty thin on the ground.
On Monday, the London Stock Exchange Group announced that it is using blockchain technology to build an exchange offering tokenized versions of traditional financial assets. LSEG is currently in talks with multiple regulatory bodies about it, including the UK government and HM Treasury.
That day, European Central Bank executive board member Fabio Panetta took aim at stablecoins issued by private companies like PayPal, which launched its own dollar-pegged PayPal USD (PYUSD) last month.
Speaking at the European Parliaments Committee on Economic and Monetary Affairs meeting on Monday, Panetta said his main criticism of PYUSD and similar coins is that private providers of payment services, including PayPal, have no incentive to limit the take-up of their stablecoins or the range of services they provide. Quite the opposite: their objective is to expand their customer base and gain market share.
On the other hand, Panetta thinks the proposed European central bank digital currency (CBDC), the digital euro, would pay due attention to orderly adjustments in the financial sector while offering payment service providers a platform for innovations with pan-euro area reach, he said.
On Tuesday, top-five South Korean financial conglomerate Hana Financial Group announced a partnership between its KEB Hana Bank and crypto custodian BitGo for late 2024.
The new deal ties a major domestic financial player to the crypto industry, although KEB Hana Bank has already taken steps into blockchain when it opened a digital branch in metaverse platform The Sandbox.
Crypto-friendly payments giant Visa said on Tuesday that it has now expanded its settlement options to include USDC on the Solana blockchain. The company also announced that it was working with merchant acquirers Worldpay and Nuvei to allow them to settle using USDC instead of fiat.
On Wednesday, The Financial Accounting Standards Board (FASB)recognized by the SEC as the designated accounting standard setter for public companiesvoted unanimously to change how companies disclose crypto holdings in order to give greater transparency to the trade. The new rules take effect in 2025.
Two global financial regulators, the International Monetary Fund (IMF) and the G20s risk watchdog, the Financial Stability Board (FSB), on Thursday released a white paper outlining their plans for coordinated action to ensure that there is a comprehensive policy and regulatory response for crypto-assets [as it] is necessary to address the risks of crypto-assets to macroeconomic and financial stability.
While the papers authors acknowledge that crypto doesnt currently pose a risk to the financial system, they argue that widespread adoption would undermine the effectiveness of monetary policy.
The paper recommends constituencies safeguard monetary sovereignty and strengthen monetary policy frameworks, guard against excessive capital flow volatility and adopt unambiguous tax treatment of crypto-assets to protect themselves from risks.
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Ethereum Price Remains Steady as Vitalik Buterin Falls Victim to Hackers – U.Today
Alex Dovbnya
Vitalik Buterin, co-founder of Ethereum, had his X account compromised by hackers
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Vitalik Buterin, the co-founder of Ethereum,has reportedly fallen prey to hackers who gained unauthorized access to his X account X being the new name for Twitter following its acquisition by Elon Musk.
Bad actors posted some phishing links in an apparent attempt to scam Buterin's followers by luring them with a suspicious-looking "commemorative" non-fungible token (NFT) sham. Per social media reports, multiple NFTs were stolen following the incident.
Buterin himself has yet to address the incident.
Thehacking incident has triggered an immediate response from the online community, including speculation, memes and legitimate security concerns.
One user humorouslymused about the fortunes the hacker could have amassed had they falsely tweeted about a massive Ethereum sell-off.
Obviously, a lot of users were puzzled by the fact that someone as tech-savvy as Buterin could fall victim to such an attack. Rumor has it that the incident was caused by a SIM swap attack.
TheETH price remained remarkably steady in the wake of the major cyber-incident. At press time, it is trading at $1,626 following a minor 0.5% dip.
The coin's market cap hovers at about $195.5 billion, with a 24-hour trading volume of approximately $3.3 billion.
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Ethereum Price Remains Steady as Vitalik Buterin Falls Victim to Hackers - U.Today