Crytpo Analytics Firm States Mildly Bullish For May 2019

According to a cryptocurrency analytics firm, SFOX has recently released a report regarding the current state of crypto market and have revealed to be “mildy” bullish for Bitcoin.

In a report dubbed as SFOX’s Multi-Factor Market, BTC continues to look mildly bullish entering the new month.

The final week of the previous month was marked by some contraction in BTC prices as it reacts to news that Tether and Bitfinex has been charge of market manipulation.

The firm also reveals that Bitcoin has continued to hold control over the marketplace despite the rally in coin prices for other top cryptocurrencies.

Market dominance of Bitcoin also increased throughout the month and was reported to have increase around 6% in market dominance rising from 50% to 56% at the time of this publication.

University From Turkey Opens Blockchain Center At Northeastern University In Boston

It has been reported that Bahcesehir University (BAU) from Turkey opened a blockchain center at Boston in Northeastern University (NEU).

The main aim of the initiative is to provide informational support on blockchain technology as well as to apply for funds in the United States, the European Union and Turkey.

They believe that such initiative will boost Turkey’s presence in the blockchain market and attract specialist in the said field.

Enver Yucel, the Chair of the BAU Board of Trustees, they would like to start blockchain-related master and doctoral education programs in partnership with the Turkish Exporter’s Assembly.

It seems that blockchain technology has been gaining traction in education space, which is not surprising as there has been an exponential growth on the demand for professionals that are into blockchain technology or allied industries.

Binance Lost 7,000 BTC From Hackers

The internet is abuzz with news that one of the biggest crypto exchanges by trading volume has recently been hacked.

Binance has announced that it had been hacked and the perpetuators were able to withdraw around 7,000 BTC before the Binance administrators were able to suspend all withdrawals and deposits.

7,000 BTC is worth approximately $40 million from Binance’s hot wallet, which comprised 2% of the exchanges Bitcoin holdings

According to the official statement of Binance they have discovered the large scale security breach on May 7, 2019 revealing that hackers were able to obtain large number of user API keys, 2FA codes and potentially other information.

Binance says that all other wallets are safe and secure, however, deposits and withdrawals for the exchange remains suspended as Binance investigates the incident.

Justin Sun Offers To Cover Binance’s 7,000 BTC Stolen By Hackers

Support from the cryptocurrency community poured into Binance when it learned that Binance had been hacked and lost 7,000 BTC which is worth around $40 million when converted into fiat.

One of the first to come to its aid is Justin Sun, the founder of TRON, who offered to support Binance by depositing 7000 BTC worth of USDT (40 million USDT) into the crypto exchange.

While the cryptocurrency community has mixed feelings towards Justin Sun because of his antics in promoting his cryptocurrency or getting attention this benevolent act might improve how the wider crypto community view him.

Changpeng Zhao appreciated the gesture but informed the crypto community that they have already a system in place just in case an unfortunate event like this ever happens.

It has been reported previously that Binance has been saving 10% of its earnings to fund SAFU, a fund to secure the assets of users dubbed as Secure Asset Fund (SAFU).

Diminishing Mining Hashrate In The Past 30 Days For Bitmain

The cryptocurrency mining giant, Bitmain has recently disclosed their current mining hashrate revealing a marked decrease on its hashing power.

The report is updated every 30 days and showed that it has dropped from 1,692.35 quadrillion hasses per second (PH/s) to 237.29 PH/s beginning of May.

The two mining pools operated by Bitmain, Antpool and BTC.com contributed to almost 23% of the total hashing power of the entire Bitcoin mining pool which also demonstrates a marked decrease from 41% market share 6 months earlier.

According to a report from Canadian wealth management company Canaccord the mining industry is becoming more decentralized and continues to diversify.

Bitmain is scheduled to release its next flagship product at the end of the year and is hoping that with the new mining hardware will turn out to be a winner and coupled with the Bitcoin reward halving event will help turn around the fortunes of the ailing company.

Headlines for the world of Cryptocurrencies - May 07, 2019

The Way Summit In Moscow / The Central Bank of Iran Develops Blockchain Platform / Starbucks Working On Blockchain-Enchanced Coffee Tracking Platform / Students In Moscow Piloting Blockchain E-Voting In June / Institutional Bitcoin Trading In Fidelity May Boost BTC Prices As Much As $2,000

Headlines for the world of Cryptocurrencies - May 06, 2019

Lightning Network App Comes To Apple Smartwatches / Over 50 Software Engineers Working On Cardano / Increasing Number Of High Net Worth Individuals In The Crypto Space / There are Around 22 Million US Crypto Traders / Fidelity To Starts Bitcoin Trading

Headlines for the world of Cryptocurrencies - May 05, 2019

Five Canadian Banks Now Using Blockchain Identity Verification System / Tamper Free Digital Certification Using Blockchain Given To Singapore Students / MIT Professor Helping Facebook To Create Its Own Cryptocurrency / Winklevoss Twin Giving Away 1 Bitcoin / SBI’s President Is Now Part Of The Board Of Ripple