Friday, Jan. 25 — the top 20 cryptocurrencies are reporting discreet price action in mixed directions on the day to press time. Bitcoin (BTC) is hovering under $3,600 again, according to Coin360 data. Market visualization from Coin360 At press time, Bitcoin is seeing virtually no change on the day, trading at around $3,590, according to CoinMarketCap. Looking at its weekly chart, the current price is about $100 lower than $3,668, the price at which Bitcoin started the week. Bitcoin’s intraweek high hit just over $3,700 on Jan. 19. Bitcoin 7-day price chart. Source: CoinMarketCap Ripple (XRP) has kept its value …

Friday, Jan. 18 — crypto markets continue to see calm, with all top ten coins seeing mixed 24-hour price changes capped within a 3 percent range, as Coin360 data shows. Market visualization from Coin360 On CoinMarketCap (CMC)’s crypto exchange rankings by adjusted daily traded volumes, however, some major upheavals are underway. Today, Chinese exchange ZB.com saw an 80 percent surge in 24-hour trade volume to hit ~$606.7 million, and displacing Binance as top exchange on CMC. ZB.com is currently ranked the largest exchange globally; however, during the time of writing, a separate China-based exchange, LBank, has flickered in and out …

Ethereum Classic Labs incubator has launched a new Ethereum Classic (ETC) development team ETC Labs Core. The company has unveiled this in a blog post published Jan. 14. According to the announcement, the new team will be working on core ETC projects, supporting the coin’s blockchain and providing tools for decentralized application development, mining, and services. In the first quarter of 2019 the team will purportedly focus on reviewing Ethereum’s (ETH) Constantinople hard fork, which is set to happen around Jan. 16. This will be done prior to finalizing the Ethereum Classic Improvement Proposal 1045, which will introduce support for …

Top Stories This Week Altcoin Ethereum Classic Reportedly Undergoes 51 Percent Attack Earlier this week, the Ethereum Classic (ETC) reportedly underwent a 51 percent attack. In the aftermath, crypto exchange Coinbase noted that upwards of $1.1 million in crypto was double spent during the time of the deep blockchain reorganization. Coinbase and several other cryptocurrency exchanges temporarily paused deposits and withdrawals of the altcoin to prevent loss of funds. Crypto exchange Gate.io confirmed that the attack was carried out and promised refunds, stating that around 54,200 ETC in total (worth around $271,500 at the time) was transferred during the attack. …

The Ethereum Classic 51 percent attacker has reportedly returned $100,000 to cryptocurrency exchange Gate.io, a post on the official exchange’s blog reports on Jan. 12. The company further noted that they tried contacting the attacker but didn’t get any reply until now, and that they do not know the reason why the funds have been returned. The exchange declared: “If the attacker didn't run it for profit, he might be a white hacker who wanted to remind people the risks in blockchain consensus and hashing power security.” A white hat hacker is a hacker with a strong professional ethic who …

Friday, Jan. 11 — after a major price rout yesterday, many cryptocurrencies are today clawing back lost ground, with most of the major coins tipping back into the green, as Coin360 data shows. Market visualization from Coin360 Top cryptocurrency Bitcoin (BTC) has stabilized around $3,700 to press time, seeing a slight 1 percent recovery over the past 24 hours. Yesterday, Jan. 10, Bitcoin fell sharply in value from ~$4,000 to ~$3,650 — an over 8 percent intraday loss. Having reclaimed the $4,000 mark Jan. 6 — which it comfortably held for several days — the fresh downturn has brought Bitcoin …

Just two weeks into the new year and the cryptocurrency community is grappling with the reality of an alleged “51 percent attack” on the Ethereum Classic (ETC) blockchain. While there is still no clear idea of who is responsible for the manipulation of ETC’s blockchain by controlling the majority of CPU power in the mining pool, the circumstances raise some big questions concerning the security and power of proof-of-work (PoW) algorithms. It is worth taking a look at the chain of events leading up to the confirmation that ETC had indeed been the target of a blockchain reorganization. On Jan. …

Researchers from crypto exchange Gate.io report they have confirmed that a 51 percent attack successfully occurred on the Ethereum Classic (ETC) blockchain. The company published an analysis of their findings Jan. 8. Gate.io Research has published its analysis of ETC transactions on its platform during the alleged attack, claiming it has detected seven rollback transactions — four of which were reportedly conducted by the attacker, transferring a total of 54,200 ETC in total (worth $271,500 at press time). Gate.io reports that the incident occurred over a period of 4 hours between 0:40 and 4:20 Jan.7, 2019 UTC, during which the …

Wednesday, Jan. 9 — crypto markets are continuing to show mixed signals, with most of the top market cap coins seeing mild changes both red and green. Bitcoin (BTC) is holding justabove the $4,000 mark, as Coin360 data shows. Market visualization from Coin360 Top cryptocurrency Bitcoin (BTC) has been jaggedly trading sideways over the past three days, and is currently down a mild 1.4 percent on the day, trading at $4,048. Having broken the $4,000 resistance on Jan. 6, Bitcoin spiked to around $4,100, subsequently continuing to fluctuate range bound between $4,000 and $4,100. As compared with its lower price …

A decentralized cryptocurrency is by definition vulnerable to 51 percent attacks, the creator of Litecoin (LTC) Charlie Lee stated in a tweet Jan. 7. In the wake of recent news about unusual mining activity on the Ethereum Classic (ETC) network — which many continue to refer to as a 51 percent attack — Lee shared his observation, stating that: “By definition, a decentralized cryptocurrency must be susceptible to 51% attacks whether by hashrate, stake, and/or other permissionlessly-acquirable resources. If a crypto can't be 51% attacked, it is permissioned and centralized.” Lee’s statement was in response to another tweet stating that …

A deep reorganization of the Ethereum Classic (ETC) blockchain, which reportedly included double spending, has involved more than $1.1 million worth of crypto, United States crypto exchange Coinbase revealed Monday, Jan. 7. According to the Coinbase blog, the team first detected eight reorganizations that included double spends, totaling 88,500 ETC (approximately $460,000). Later, the exchange informed the public in an update that there were 12 additional reorganizations, totaling 219,500 ETC (around $1.1 million). It was not immediately clear whether Coinbase has increased the number of previously detected attacks to 12, or whether there were 20 attacks in total. If they …

This article has been updated since publication to reflect Coincheck and bitFlyer’s decision to temporarily pause Ethereum Classic deposits and withdrawals. Ethereum Classic (ETC) developers have stated that a mining pool evidently claiming over 50 percent of the network’s hashrate was “most likely selfish mining” in a tweet today, Jan. 7. ETC devs also explicitly stated in the same tweet that the previously noted hashrate consolidation is not a 51 percent attack, and that double spends were not detected. The tweet revealed a potential cause for “the recent mining events,” attributing the increased hashrate to the testing of new 1,400/Mh …