Crypto Today: Bitcoin and major altcoins extend the decline on Monday
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Markets:
BTC/USD is currently trading at $9,822 (+1.6% on a day-to-day basis). The coin has recovered from the intraday low of $9,714, however, the upside momentum is still slow.
The ETH/USD pair is currently trading at $250.7 (+7.0% on a day-to-day basis). Ethereum touched the intraday low of $242.72; now, it is moving within a short-term bullish trend amid low volatility.
XRP/USD settled at $0.2834. The coin has lost nearly 10% in recent 24 hours amid global sell-off on the cryptocurrency market.
Among the 100 most important cryptocurrencies, the best of the day are Hedera Hashgraph (HBAR) $0.0520 (+9.5%), MaidSafeCoin (MAID) $0.1097 (+8.12%) and FTX Token (FTT) $2.7 (+5.16%), The day's losers are, Komodo (KMD) $0.7525 (-19.10%), Golem (GNT) $0.0601 (-19.0%), MaidSafeCoin (MAID) $1.84 (-18.12%).
Chart of the day:
XRP/USD, 4-hour chart
Market:
Binance users noted strange errors with trading orders and account balances. Some traders reported that their account balances were reduced to zero. The head of the exchange Chanpeng Zhao confirmed the bug and promised to provide details later.
Writing a detailed report on some of the perf issues we face in the last few days. Will publish in 24h or so. It's not the first time @Binance faced challenges, and it won't be the last time we solve them. We are humbled to have the heaviest traffic in crypto, and your support!
American broadcaster Max Keiser has raised his Bitcoin price forecast to $400,000 per one orange coin. He voiced his new expectations while speaking with conspiracy theorist Alex Jones at InfoWars headquarters in Austin. Notably, Keiser is one of the early Bitcoin adopters who claimed it would go to $100,000 when it cost just $1.
Industry:
Binance applied for a license in Singapore to comply with the new Payment Service Act introduced by the Monetary Authority of Singapore in the previous month. Cryptocurrency payments and trading regulation is based on the existing rules for traditional fiat payment services. Commenting the news, the head of the exchange noted:
We submitted the application pretty fast. Binance’s Singapore entity has been in close touch with the local regulators, and they have always been open-minded.
Decentralized finance (DeFi) project bZx fell victic to a sophisticated hack attack that resulted in $350,000 o losses, which is about 2% of all funds under project management. The team participated in hackaton ETHDenver when the attack took place. The hackers allegedly exploited the company's pricing oracle to trick the protocol into giving up the cash. The team has already confirmed that it will compensate for losses.
Due to the complexity of the transaction, providing a comprehensive accounting of the losses will require additional time. This was not a simple Uniswap attack, and we do not use Uniswap as an oracle.
Regulation:
The Central Bank of Russia published amendments to its anti-money laundering guidelines for commercial banks. Now the list of suspicious activities now include operations with virtual assets. Effectively, it means that commercial banks will be able to freeze users' accounts if they have been used to buy or sell digital assets.
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