Exchanges are positive about the inevitable growth of the crypto market, while we can see more and more fraud there

Exchanges are positive about the inevitable growth of the crypto market, while we can see more and more fraud there

100,000 ETH coins are moved, Andreas Antonopoulos is against ETF, new Bitcoin ETN can be bought for dollars — all in weekly news digest!

BTC

8,744 USD
-6.81%

ETH

272.72 USD
-1.12%

MIOTA

0.4163 USD
-1.05%

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Mid-Week Bitcoin Dump Not Caused By Chinese Ponzi: Researcher

Wednesday’s Bitcoin flash crash was not due to a sell-off from Chinese ponzi scam, PlusToken, a researcher has claimed. Sid Shekhar, the co-founder of London-based, TokenAnalyst, said the disputed coins were moved earlier on the blockchain. We Can All Relax, It’s A False Alarm As Bitcoinist reported on Thursday, cryptocurrency influencer, Dovey Wan, brought the $3 billion scam to the attention of the international crypto-community on Twitter. Analysis from Peckshield suggested that about 1000BTC from PlusToken had flowed into Huobi and Bittrex since July. The reporting of this just after the crash which saw bitcoin price dip back into four figures led many to correlate the two. However, the TokenAnalyst review shows that very few PlusToken-associated addresses held any significant number of bitcoin and moved them recently. According to Shekhar: It doesn’t look like any of these addresses are exchange owned. So that was enlightening. We’ll keep an eye on this to see if they do move the 100s of millions into exchanges at some point. But Can We Really? The reason that very few Bitcoin addresses associated with the scam contained much in the way of coins, was because they had already moved. TokenAnalyst did find thousands of bitcoin on the ledger belonging to the PlusToken team. But much of this money filtered into Bitcoin mixing services about a month ago. This correlates with Peckshield’s data that the coins started moving nearly-July. Its findings were only that about 1000BTC flowed into exchanges. The rest, according to the new research by TokenAnalyst, flowed into mixers. Something caused the market to crash on Wednesday. Wan tweeted of unconfirmed reports by Chinese traders that someone was continually dumping 100BTC batches onto Binance. It is not inconceivable that the freshly mixed coins from the PlusToken scam were being pushed onto exchanges for conversion into fiat. But of course, we always want a nice simple explanation for any market movement. Something that we can point to, and sagely say… “ah, yes. this was the reason.” because there isn’t a lot of comfort in “just because…” What’s your theory for the recent bitcoin price dump? Let us know below!  Image via Bitcoinist Image Library The post Mid-Week Bitcoin Dump Not Caused By Chinese Ponzi: Researcher appeared first on Bitcoinist.com.
Bitcoinist

Ethereum’s bearish woes may have a deadline on the horizon

A potential trader looking at Ethereum at the moment will be demoralized with its current price movement. At press time, the token indicated a price growth of 1.23 percent at press time but prior to that, ETH had slumped over 8 percent on 14th August. Ethereum’s one-day chart If a trader was looking at ETH’s […] The post Ethereum’s bearish woes may have a deadline on the horizon appeared first on AMBCrypto.
AMBCrypto

Bakkt Official Launch Date, Ethereum Upgrade, Coinbase Bank & Is Everyone Ready?

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