Cryptomart Weekly News Review 04.05.2019

Hackers hacked Bithumb cryptocurrency exchange

An insider attack took place on the Bithumb crypto exchange from South Korean on March 30. Hackers stole 3 million EOS and 20 million XRP. Representatives of the crypto exchange claim that all the stolen funds belonged to the platform, and the clients’ money is safe.

The Litecoin price increased two times in the three months

The average market price of Litecoin has doubled from $30 to $60.7 since the beginning of 2019. This is the first time in history when altcoin showed such an increase in the first quarter. The cost of coin fell by 48.5% for the same period of last year.

Cryptocurrencies show rapid growth

The capitalization of the cryptocurrency market has updated a maximum of 2019. The capitalization has increased by 56% since the end of January. The total trading volume of cryptocurrencies is now at a maximum mark and is $80 billion. This indicator has never been so high.

The price of Bitcoin Cash went up by 57% per day

The cost of Bitcoin Cash went up by 57%. The project capitalization exceeded $5.97 billion. Bitcoin SV, a direct competitor to Bitcoin Cash, grew by 25%. The share of the original Bitcoin in the cryptocurrency market dropped to 50.3%.

What affects the price of cryptocurrency?

Bloomberg published an article in which it reported on algorithmic cryptocurrency trading that lead to their sharp growth in early April. Traders are increasingly using special software in the cryptocurrency market. During the past year, algorithmic funds made a profit of 3-10% per month. At the same time, hedge funds lost almost 72%.

Riot Blockchain suffered big losses

According to the financial report, losses of the Riot Blockchain mining company amounted to $58 million in 2018. Last year, the company produced 1081 BTC and 3023 LTC with the help of 8 thousand installations. Net loss is associated with a fall in the value of digital money, equipment depreciation and various expenses.

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