In the traditional Sunday review ForkLog — the collapse of the cryptocurrency market, the secret activities of the Ethereum developers, the postponement of the launch platform Bakkt and other events this week.
Bloodbath
At the beginning of the week, November 19, bitcoin price has updated the annual minimum, having fallen below $5000. The next day, the bears managed to derail the course of the first cryptocurrency below $4,500, and the market capitalization reached the value of October 2017.
Then began a sideways movement in the range of $4200-$4500, but hopes for a strong rebound did not materialize. On Saturday, November 24, the price has broken the next psychological level at around $4000, and fell to $3600, where there is a slight upward correction.
Data TradingView
Note that Hasrat network followed the bitcoin price, dropping to 35 EH/s, but then returned to around 47 EH/s. At the same time, F2Pool founder, said that the collapse in the beginning of the week forced pool users to turn off tens of thousands of devices.
20 Nov ForkLog launched an online stream, collecting all opinions, estimates and projections industry representatives about further price movements is the first cryptocurrency.
The collapse of the bitcoin live: the opinions, estimates, forecasts
If you want to join the discussion, add your posts on social media hashtag #cryptocarnage.https://t.co/Jl6dj5DyZB pic.twitter.com/xOZtaLM3v7
— ForkLog (@ForkLog) 20 Nov 2018.
A downward trend of bitcoin and the Bitcoin Cash hardporn we also discussed with the permanent guest of the heading “weather Forecast” is known to the trader in a Tone Weiss.
Not pleased with the news and blockchain startup Chainalysis analysts which found that the volume of transactions payment bitcoin processors fell by about 80% between last December and September.
It is noteworthy that against the background of deep collapse in the number of search requests for the word “bitcoin” has increased by 30%, reaching rates of APR. An interesting opinion was expressed by the founder of venture capital firm Morgan Creek Anthony Pompliano:
“The current bear market will be worse for the cryptocurrency funds and ICO projects. The situation deteriorates much stronger than before will come a white stripe. And that’s fine. Bear market the game of tourists, leaving only the true entrepreneurs are able to create sustainable value.”
Meanwhile, over the past seven days the amount of on Lightning channels in the network bitcoin of funds has nearly tripled, reaching 445,8 BTC [Nov 24].
This week representatives of the cryptocurrency platforms Bakkt from the company, Intercontinental Exchange announced the launch on 24 January 2019 in connection with the “level of interest” to the company and “work that needs to be done to put the pieces together”. The first products of the platform should be futures contracts for bitcoin with a physical delivery of an asset.
We emphasize that an investment company VanEck, who has long been trying to get approval to open bitcoin ETF launch Bitcoin index MVIS US OTC Spot Index, data on OTC platforms which would provide dealers Genesis Trading, Cumberland and Circle Trade.
On November 22 it became known that the Trustee of the defunct bitcoin exchange Mt. Gox, Nobuaki Kobayashi will attempt to convince the court to extend the deadline for receipt of applications from investors till 26 Dec 2018.
Ppl Were Bitcoin Cash
This week the exchange OKEx and Kraken added support for the newly formed SV fork Bitcoin, the coin also appeared on CoinMarketCap and Poloniex opened the input/output of the asset. However, on 19 November, the Bitcoin network SV was attacked reorganization.
In an alternative implementation of the Bitcoin Protocol ABC developers have added protection against these attacks and ensured the irreversibility of transactions.
Coin Bitcoin ABC, which became a kind of successor Bitcoin Cash was also added in hardware wallets Ledger. Add that popular Hong Kong-based exchange Bitfinex opened I/o coin BAB, but the corresponding operations for the BSV will be available later.
Recall, Bitcoin Bitcoin ABC and SV were formed by hard forks of Bitcoin Cash held on 15 November.
The Bitcoin network Cash held хардфоркhttps://t.co/UqmK20RR8P#hardwork #BitcoinCash #BitcoinABC #BitcoinSV pic.twitter.com/qXBWhL6ezt
— ForkLog (@ForkLog) 15 Nov 2018
Vulnerabilities in Ethereum and the secret active developers
Supplier dApp solutions Level K has revealed details of a vulnerability in Ethereum, which let through the attack “vector of sabotage” to empty the wallets of the cryptocurrency exchanges and to enrich themselves at the expense mintinga tokens GasToken.
“Vector,” exploit the possibility of computing a random address where you sent the coins, Ethereum, due to the initiator of the transaction. The vulnerability also applies to all tokens of the standard ERC-721 and ERC-20.
This week it became known about the update, called ethereum 1x, which the developers in the face of Ethereum Vitalik Buterin, lane Rettig, Peter Szilagyi, Hudson jameson and founder of a startup ConsenSys Joseph Lubin allegedly discussed at private meetings on the sidelines of the conference Devcon4.
ethereum 1x assumes an aggressive increase of the possibilities of technology, including the replacement of the virtual machine Ethereum, the introduction of fees for storage, smart contracts, and other minor updates that are not represented in the code hard forks Constantinople.
Audit stablon USDC
U.S. subsidiary of international company Grant Thornton International has conducted an audit of the banking reserves of bitcoin startup Circle, confirming that stabilin USDC fully provided with Fiat US dollars.
According to the Grant Thornton audit of the financial condition of Circle carried out in accordance with certification standards established by the American Institute of certified public accountants (AICPA).
Domain locking of the exchange WEX
The company the Domain Name Commission (DNC) manages the domain .nz has suspended the following addresses: wexbet.nz wexcash.nz wexcoin.nz wxcash.nz wxcoin.nz.
The decision is due to the fact that domains registered person is not confirmed the authenticity of the provided contact data, which is a violation of the DNC policies.
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