In at the ground floor
Although cryptocurrency prices aren’t increasing, they aren’t falling. The floor Bitcoin and other cryptocurrencies that were discovered last summer seem to hold for major coins. It seems like only a large event will push prices below the current level. It is not clear what that could be, but it could include strict new regulation, Elon Musk’s cashing out, or the collapse of El Salvador’s Bitcoin experiment. The current range-based trading will continue, with Bitcoin 2022 in Miami next year possibly the catalyst for a rise higher.
Bitcoin is now down 1% from yesterday, with Ethereum trailing it lower. CoinMarketCap measures the rest of the top ten crypto coins. They are mixed. Avalanche is a rival to ethereum and is on the rise, rising 5%. Terra’s Luna appears like it could replace Ripple’s XRP to become the sixth largest coin this week.
After sprinting from the beginning blocks, the Bored Ape Yacht Club NFT collection’s apecoin has tripped. Investors are currently taking a look at what is effectively a memecoin, which is down 5% from yesterday. Coindesk published a great overview of the new hot coin over the weekend.
It’s good to know that Yuga Labs, creator ofBored Apes, teases a new project called “Otherside”
Crypto Price Prediction: $100,000 Bitcoin Could Be Coming Sooner Than You Think. Ethereum Leading The Way
JPMorgan warns big investors that they are suddenly switching to Ethereum for Bitcoin amid a $150 billion crypto price crash
China’s ‘Bitcoin Ban’ Fails To Crash The Market, As Twitter Adds Crypto Payments in Historic First
After Hubspot hack, crypto chaos
Hacked: A few crypto companies had to notify their users this weekend about a possible data breach at Hubspot. BlockFi, Swan Bitcoin, a crypto lending company, and Pantera Capital, a hedge fund, contacted their customers to inform them that their names and contact information might have been accessed. However Hubspot hackers were unable to gain access to their internal systems. A total of 30 clients may have been affected, but the full list is not yet available.
Why it is important: Data breaches can be very worrying for both cryptocurrency users and businesses. It is often impossible to recover bitcoins or other currencies if they are stolen. Previous data breaches at crypto companies have led to targeted phishing attacks on crypto users, and threats of physical violence. The new “attack vectors” for the July 2020 data breach at Ledger’s hardware wallet are still being discovered. According to Coindesk, some crypto users have reported that they received phishing emails over the weekend from companies attempting to trick them into entering their passwords on a fake website.
How did this happen?Hubspot keeps usernames, email addresses, and phone numbers for companies to use for marketing purposes. Data is used to evaluate the effectiveness of marketing campaigns. Hubspot claims that the hacker gained access into an employee account, which was specifically used to access data in the crypto industry. A statement on Hubspot’s website stated that a “bad actor” had accessed a HubSpot employee account, and was able to access data in fewer than 30 HubSpot accounts. We believe that this is a targeted attack on customers in cryptocurrency. We have removed access to the compromised HubSpot employee account from other employees and stopped them being able to take specific actions in customer accounts.
What to do: If you have any cryptocurrency stored with any company using Hubspot (or might use Hubspot), you need to update your passwords and enable non-cell-phone two-factor authentication. Also, be more aware of possible phishing attacks. Being your own bank is not easy.
H2L, a Sony-backed company, has created an armband that uses electric stimulation to create sensations. The company hopes to “release people from any kind of constraint in time, space and body” by 2029.
Emi Tamaki, co-founder and chief executive of the Tokyo-based company, stated that “Feeling pain allows us to turn [the metaverse] world into a real[world], with increased feelings if presence and immersion.”
The week ahead
These events are related to cryptocurrency and should be kept in mind.
Federal Reserve Chair Jerome Powell will be speaking today at the National Association for Business Economics conference “sustainable and inclusive growth”. However, expect comments on interest rates, inflation, and other big topics that are currently dominating trader and investor heads.
Is there a bitcoin bond from El Salvador? The world still waits for El Salvador to issue its highly-anticipated, $1 billion, bitcoin-backed and volcano-fueled bond. Alejandro Zelaya, El Salvador’s Finance Minister, said last week that the bond sale could take place between March 15th and March 20. However, Russia and Ukraine could slow down the process.
El Salvador: Bitcoin bond to be used for baptism of fire
Tomorrow’s Bank of International Settlements will host global policymakers as well as senior executives from financial and technology sectors to discuss the future of money, and payments. Christine Lagarde, president of the European Central Bank (ECB), is featured on the bill. Andrew Bailey, governor of Bank of England, will also be there. Brian Brooks, Bitfury’s chief executive and former U.S. currency accountant, will fly the crypto flag.