Cryptocurrency daily report for July 10th, 2018: The market has crashed into the red
This week, the market has not been doing so well with all the charts shrouded in red color of descending candlesticks. Today (July 10th), the total market cap has lost over $10 billion, falling from the level of $274 billion (a yesterday’s value) to $264 billion, according to Coinmarketcap.
Except for the stable coin Tether (USDT), 9 out of top 10 cryptocurrencies have experienced a sharp and steep fall. Significantly, EOS price has lost 11.31%, while 6.26% of Cardano price is gone.
The darkness covering the market today mainly comes from the news that decentralized exchange Bancor was hacked millions of dollars early this morning (00:00 UTC, July 10).
Bitcoin (BTC) - the top cryptocurrency - witnessed a reduction of 1.28% during 24 hours and is currently traded at 6593.5. Previously, the cryptocurrency failed to break through the level of 6800, sliding down more than 2% to the lowest low at 6560.
Tezos (XTZ) is one of a few coins which has moved up today (4.17%) thanks to the positive sentiment created by the launch of its beta network at the end of June.
Written by @daigv from nami.today
How could a decentralized platform like Bancor be hacked?
Bancor is not 100% decentralized, to be exact. It's a hybrid.