$43 Billion Market Capitalization Surpassed by Tokens Issued by Exchanges 0 28

Right from the beginning of the year 2021, the entire cryptocurrency industry has acquired enormous success and adoption. One of the largest cryptocurrencies in the entire world ‘Bitcoin’ managed to hit its all-time high of $48 per BTC. The same was the case with altcoins that are continuing to experience all-time highs with respect to their prices and market capitalization.

Since the beginning of the year, every day a new cryptocurrency and a platform announces hitting all-time highs. The all-time high achievements are limited not only to Bitcoin (BTC) or altcoins but have already spread to tokens released by the exchanges as well.

Therefore, one of the on-chain data analyzing firm has shared details around performance that the exchange issued tokens have delivered. As per the firm “Messari Data”, the cryptocurrency exchange that is ruling the industry in this category is Binance. Binance is also the largest cryptocurrency exchange in the entire world in terms of market capitalization.

The firm has reported that the token launched by Binance has experienced a 150% surge with respect to its price within 10 days. It was reported that on February 1, 2021, that the price of Binance’s token was $47. However, in a matter of 10 days by (February 10, 2021), the price of the token hit its all-time high of $148. At the time of writing, the price of the Binance token (BNB) has rebounded to $123.

According to the data gathered by Messari Data, the market capitalization of Binance’s token BNB is currently over $19 billion. With the recent development, the BNB token is now ranked number 6 on the list of top 10 cryptocurrencies.

On the other hand, the second cryptocurrency exchange that has experienced a lot of growth in its token’s market capitalization is the Huobi exchange. Huobi is one of the largest cryptocurrency exchanges in the world that was founded in China.

According to Messari data, the token governed by the Huobi platform experienced an all-time high of $13.95 that was on February 10, 2021. The Huobi token also gained more than 100% growth with respect to its price since the beginning of the month of February. It was reported that at the beginning of February, the price of Huobi’s toke was $6.54. At the time of publishing, the price of Huobi’s token is at around $12.65.

The Messari data has revealed that the platform has gained more than 170% growth with respect to its price in the last 30 days. As of now, the market capitalization of the Huobi token has surpassed $2.47 billion.

Then there is the Uniswap token that has managed to gain 274% growth in its price in the last 30 days. Uniswap is currently ranked as the largest decentralized cryptocurrency exchange with respect to a market capitalization of over $6 billion.

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Central Banks Will Not Allow Bitcoin to Go Mainstream, Says Harvard Professor 0 4

Since the beginning of the year 2020, Bitcoin (BTC) has been flying high with respect to its price and market capitalization. There have been many mainstream institutions such as PayPal, MicroStrategy, and MassMutual that have played a huge role in deciding the fate of Bitcoin (BTC).

Although Bitcoin (BTC) had mustered a lot of user-base from the private sector, all it required was input from the mainstream sector. This is when PayPal announced that it was going to integrate Bitcoin (BTC) into its platform.

This worked like a charm for Bitcoin (BTC), and the largest cryptocurrency in the entire world got even bigger. Since then, Bitcoin (BTC) has been constantly gaining mainstream adoption and several institutions from around the world have adopted it.

However, similar to the president of the ECB, there are still many who still do not support the idea of adopting cryptocurrencies and Bitcoin (BTC) altogether.

Bitcoin (BTC) has been facing a lot of resistance and hard times from traditional financial institutions. It is the banks that are currently opposing the idea of Bitcoin (BTC) being dealt with as an asset for savings and investments.

The above speculation has also been confirmed by one of the professors from one of the world-renowned universities “Harvard”. Kenneth Rogoff, who is currently a Professor of Economics at Harvard talked about how the central banks currently perceive Bitcoin (BTC).

Rogoff stated that if people think that Bitcoin (BTC) has started gaining mainstream popularity, then they are mistaken. Despite all the success and attention, Bitcoin (BTC) is still far from gaining real mainstream adoption.

However, Bitcoin (BTC) currently has a very harsh and difficult journey ahead as the central banks from around the world are going to give a very hard time.

He stated that the central banks will not let Bitcoin (BTC) gain mainstream success and adoption. The professor stated that other cryptocurrencies are likely to face the same kind of treatment from the central banks.

He stated that for the time being, the majority of the cryptocurrency industry is unregulated. Many cryptocurrency firms in the industry do not adhere to the regulations that include AML and KYC policies.

For now, it is not possible for cryptocurrencies to be given mainstream status in the economy. The first thing that the governments would do is regulate cryptocurrencies and ensure that the policies are being adhered to.

Once the cryptocurrency regulations are streamlined and adherence is above satisfactory levels, then the cryptocurrencies stand a chance of being given mainstream status.

The words coming from Rogoff hold very high significance as he was one of the former chiefs at the IMF.

Bittrex Exchange Allowed Bitcoin to be Stolen, Claimed by Spanish Customer 0 6

As per the latest reports, the police authorities of the city of Tenerife have been given permission to investigate a case regarding Bittrex. As per sources, permission to look into the matter has been given by the Spanish court. The investigation has been launched by the Spanish court in response to a complaint that was launched by a Spanish Bittrex customer.

In the complaint, the customer has alleged to Bittrex that it was due to the exchange that he ended up losing his Bitcoin (BTC) to a theft. The plaintiff held the exchange responsible for the theft that led him to lose Bitcoin (BTC) that was worth $62,000.

As per sources, the cybercrime unit of the Tenerife police authority is currently investigating the matter. The cybercrime unit has stated that it will soon be sharing its preliminary findings around the matter. Then the police will be able to determine whether the exchange is to be held responsible for any involvement in the matter or not.

However, the plaintiff is continuing to blame the exchange for letting his Bitcoin (BTC) be stolen and taken away by the cybercriminals. He has claimed that the hacker was deliberately granted access to his wallet account on the exchange. As a result, the anonymous hacker was able to make away with around 1.3 Bitcoin (BTC) in the process.

One of the local reporting networks has revealed that the plaintiff himself is a resident of Tenerife city. The person claimed that it was May of 2020 when he had opened up his wallet account on the exchange for Bitcoin (BTC).

The plaintiff claimed that after creating the wallet account, he added 1.3 BTC to the same wallet account. Soon after making the deposit, he realized that his wallet with 1.3 BTC had been emptied and there was no sign of it.

Soon after learning about the theft, the first thing he did was get in touch with Bittrex so he got in touch with their customer support. Although he expected the team to support him, he got told by the customer support team that his account had been victimized by cybercrime.

The claimant also added in the report that he had hired a personal security expert in order to investigate the case. He wanted to get to the bottom of the theft and wanted to find the cybercriminals himself as he received no support from Bittrex.

The security expert hired by the claimant also shared his findings with the Spanish court. According to the report, Bittrex on four different occasions allowed the BTC wallet account to be accessed before the theft was attempted. The investigating expert also confirmed that the breach was observed from four different IP addresses.

All of the IP addresses used to breach the wallet account included Granada, United States, France, and Madrid.

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