marking a 1.11% increase from the previous day. It's worth noting that Bitcoin has not traded above the $28,000 mark since June 2022, which was after the collapse of the Terra blockchain. Additionally, Ethereum, the second-largest cryptocurrency by market cap, saw a 1.7% increase in value over the past day and a 24.3% increase over the past week.
Major Events Around the World
In 2023, the crypto space experienced its biggest attack yet with the Euler Finance exploit. This incident involved a flash loan attack that resulted in the loss of nearly $200 million in crypto assets. The hacker responsible for the attack managed to transfer the stolen funds to various crypto addresses, making it difficult to trace the source of the breach.
| Indices | LTP | Change (%) |
|---|---|---|
| BITCOIN | $27880 | 2.60% |
| ETHEREUM | $1778 | 0.08% |
| Indices | VALUE | Change (%) |
|---|---|---|
| MARKET CAP | $1.20 T | 0.10% |
| TRADING VOLUME | $198 B | 2.90% |
| Indices | LTP | Change (%) |
|---|---|---|
| ZOMBIE INU (OLD) | $0.00000000028 | 971.12% |
| DOEX | $0.00021 | 317.02% |
| RELEASE | $0.0000083 | 196.80% |
| AIDOS KUNEEN | $0.65 | 146.99% |
| ZENITH CHAIN | $0.0061 | 57.46% |
| Indices | LTP | Change (%) |
|---|---|---|
| FUTURE COIN | $0.010 | 69.54 |
| DYPIUS | $0.12 | 50.49% |
| OOGI | $0.00000024 | 45.26% |
| ETHO PROTOCOL | $0.0079 | 31.77% |
| EGRETIA | $0.00027 | 28.53% |
General Bytes, a prominent Bitcoin ATM manufacturer, recently announced that a hacker had successfully installed and executed a Java application on its terminals. This application allowed the hacker to access user information and transfer funds from hot wallets. As a result of this security breach, General Bytes has taken the necessary steps to shut down its cloud services.
To prevent a repeat of the chaotic global sell-off that occurred in March 2020, where investors frantically sold off all assets, including bitcoin, in exchange for the U.S. dollar, a significant move has been made. On Sunday, the U.S. Federal Reserve (Fed) announced that it had collaborated with other major central banks to ensure a consistent supply of the U.S. dollar, which is a dominant reserve currency in the global financial system.
COINGABBAR Views: The recent surge in the crypto market over the past week is a reflection of a 'flight to quality.' However, despite this positive trend, liquidity remains a significant concern. So, what is driving the recent surge in Bitcoin's price? It appears that investors are seeking a safer investment option in cryptocurrencies, but the issue of liquidity persists. For more information Stay tuned with us at www.coingabbar.com
Also read: Russian Crypto Industry Seeks Clarity on Proposed Criminal Liability for "Gray" Miners
Disclaimer: Crypto is not regulated and can offer considerable risks. There may be no regulatory remedies available in the event of any losses resulting from price analysis. As a result, before engaging in any transactions involving crypto products, each investor must perform in-depth examination or seek independent advice.
