BusinessCryptocurrencyBitcoin Crashed 87% On Binance's U.S. Exchange Due To Algo Bug Another day, another major snafu in cryptocurrency trading. The price of Bitcoin rapidly plunged about 87% on Binance's U.S. exchange Thursday morning.
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer.
.
But whatever new products are produced, they will now have a harder time struggling with acceptance. Whether we like it or not, message and image are important.
"It is one of many schemes by which naïve retail investors are drawn in and exploited by malevolent crypto promoters," Cornell University economist Eswar Prasad told the BBC.
Despite this incident, crypto industry experts keep speculating about where Bitcoin's price is headed next with some suggesting it will soon hit $80,000. This past Friday, Bloomberg reported Bitcoin was headed for $80,000 to $85,000, while a crypto data expert said resistance at $60,000 would have provided the last buying opportunity before the coin would head for new all-time highs.
In the past 24 hours, the cryptocurrency has surged 93%. It's currently trading at less than $0.000000000001, according to CoinMarketCap.
Although few cryptocurrencies other than Bitcoin are widely accepted for merchant payments, increasingly active exchanges allow holders to exchange them for Bitcoin or fiat currencies — providing critical liquidity and flexibility. Since the late 2010s, big business and institutional investors have closely watched what they call the “crypto space” too.
“Altcoin” refers to any blockchain-based cryptocurrency that isn’t Bitcoin. The term “altcoin” was coined as a shorthand for “alternative to Bitcoin,” and the vast majority of altcoins were created to improve Bitcoin somehow. Namecoin, Peercoin, Litecoin (LTC), Ethereum and USD Coin (USDC) are examples of altcoins.
Can RIL do a Jio in clean-energy business? The answer is hidden in an INR75,000 crore war chest.
While this is a critical security feature that reduces theft and unauthorized use, it’s also draconian. Losing your private key is the digital asset equivalent of throwing a wad of cash into a trash incinerator.
Read MoreBest cryptocurrency 2021: top performing crypto coins, Bitcoin and Dogecoin price - and is it safe to invest? Will crypto recover? When cryptocurrency market and price of Bitcoin could bounce back – latest crash explainedPayPal crypto UK: how to buy and sell Bitcoin and other cryptocurrency via payment app - and is it safe?
Alexis Ohanian has partnered with the Solana Foundation to invest $100 million to build social-media projects on the solana blockchain.
The data affected by the leak includes email addresses for about 5 million users. The full names of 2 million users were also leaked.
Coins supported currently are: VET, XTZ, ATOM, EOS, ONE, and ALGO. You can earn up to 10% annually through staking with Binance.US, and you may still make trades while taking part.
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.
Funding: This work was supported by the Engineering and Physical Sciences Research Council (EPSRC). The funding was received by Ross Phillips (RP) via the DTC in Financial Computing & Analytics; reference number: EP/L015129/1; http://gow.epsrc.ac.uk/NGBOViewGrant.aspx?GrantRef=EP/L015129/1. The funders had no role in study design, data collection and analysis, decision to publish, or preparation of the manuscript.
Cryptocurrency market is down 2.24% on the last 24 hours (2.15pm, Thursday 11 November).