New Delhi: Major cryptocurrencies continued to gain following a rally in the weekend. However, investors booked profits in a couple of altcoins.
However, cryptocurrency experts had warned of several tell-tale signs that it was likely to be a scam.
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The blockchain technology backing cryptocurrency is inherently secure, thanks to the decentralized — and public — nature of distributed ledger technology and the encryption process every transaction undergoes.
At the end of 2017 and beginning of 2018, more people–especially those in the mainstream finance world–were paying attention to bitcoin and cryptocurrency trading. And in early January 2018, the Japanese exchange Coincheck disclosed a hack worth a whopping $534 million. This happened right around the time that bitcoin slipped from its peak value, and it certainly seemed to accelerate its drop.
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Over the last 24 hours, Ether (ETH), the currency for the Ethereum network, went from ₹3,86,457 to ₹3,80,498, with a market cap of ₹41.7T. In the same time, Litecoin (LTC) moved down from ₹23,859 to ₹21,497, a change of -9.90%, with a market cap of ₹1.4T. Ripple, or XRP, is another hugely popular token, with a market cap of ₹4.3T. In the last day, its value has changed -7.36%, moving from ₹105.61 to ₹97.85.
With such tokenomics, Bitrise coin is attracting thousands of investors, even from the most popular coins.
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Malta-based cryptocurrency exchange Binance will launch its U.S. division within the next two months, according to CEO Changpeng Zhao.
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Many lesser-used cryptocurrencies can only be exchanged through private, peer-to-peer transfers, meaning they’re not very liquid and are hard to value relative to other currencies — both crypto- and fiat.
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Cryptocurrencies and decentralised finance tokens are also highly volatile, so your cash can go down as well as up in the blink of an eye.
There is a lot of volatility in the cryptocurrency space due to the industry’s newness. Investors are seeking to experiment with their money to generate riches quickly and figure out how cryptocurrency prices vary and whether they can affect them.
Bitwise’s chief investment officer explained why the firm has decided to drop its Bitcoin futures ETF and focus on the spot Bitcoin ETF.
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