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Crypto Detective Firm Chainalysis is Now Snooping into 10 Cryptocurrencies

Crypto Detective Firm Chainalysis is Now Snooping into 10 CryptocurrenciesChainalysis , a crypto compliance blockchain startup, has completed its second round of funding to raise $30 million | Source: ShutterstockBy CCN.com: Blockchain analysis and compliance firm Chainalysis wants to provide its users with the ability to perform investigations and keep tabs on ten popular digital assets, including Bitcoin, Ether and Binance Coin.In a post published on its official blog on April 24, the New York-based blockchain firm announced that it is expanding monitoring tools and the scope of its Chainalysis Reactor and Chainalysis KYT (Know Your Transaction) analytics tools.Real-time monitoringChainalysis is a high-profile blockchain intelligence firm which provides various technologies that help organizations monitor the flow of cryptocurrencies on multiple blockchains and track any transaction suspected to be in connection with terrorist financing and money laundering efforts.With the new release, Chainalysis users can simply enter the name of a service into any of its analytics platforms (Reactor or KYT) and see its connection with the ten digital assets supported. The post reads:You can now enter the name of any service in Reactor and see it represented across all supported cryptocurrencies. Once added to a graph, flows between addresses are mapped using an intuitive user interface overlaid with context from on and off the blockchain. KYT customers can monitor their organization’s total risk exposure across all supported currencies.Supported currenciesThe firm’s notice points out that the digital assets supported by the Reactor include traditional crypto assets Bitcoin (BTC), Ether (ETH), Paxos Standard (PAX), Litecoin (LTC), True USD (TUSD), and Binance Coin (BNB), as well as stablecoin Gemini Dollar (GUSD), Tether (USDT), and USD Coin (USDC). The announcement also confirmed that Chainalysis is working on adding more currencies within the next few months. In part, the company said, “We’ve identified thousands of real-world services including the top exchanges, merchant providers, darknet markets, and scams. Our team makes hundreds of new identifications every month, increasing data coverage by millions of new addresses.”Anticipating future needsAccording to a related report on news platform Reuters, the expansion of the company’s monitoring tools are reportedly in anticipation of global cryptocurrency regulatory guidance, which might request that crypto-based firms should automate their process of monitoring transactions on the crypto assets that they support going forward.Citing Chainalysis co-founder and Chief Operating Officer Jonathan Levin, Reuters reported that the mainstream adoption of all types of digital assets would depend mainly on their ability to gain global regulation. As central governing bodies don’t control most digital assets, it is necessary to have a way of tracking transactions as they are conducted to curb any trafficking and terrorist financing efforts. Chainalysis is looking to get ahead of that curve, and hopefully, provide an incentive for global regulation. About The AuthorJimmy AkiJimmy has been following the development of blockchain for several years, and he is optimistic about its potential to democratize the financial system.
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Crypto Bulls Wrestle Back Control of BNB after Binance’s $40 Million Hack

Crypto Bulls Wrestle Back Control of BNB after Binance’s $40 Million HackOp-edBinance Coin (BNB) is up by 90% against USDT and 57% against bitcoin since the hack in which 7,000 bitcoins were stolen from the exchange. | Source: ShutterstockBy CCN: Binance, the leading cryptocurrency exchange in terms of volume, suffered a massive blow on May 7 when hackers ran away with 7,000 bitcoins. At the time, the total haul was valued at roughly $40 million. Binance CEO Changpeng “CZ” Zhao was quick to reassure their user base by stating that the exchange will cover the damages through the Secure Asset Fund for Users, or SAFU. Nevertheless, some Binance Coin (BNB) holders panic-sold under the assumption that CZ would dump BNB to pay for the damages. They were wrong. In this article, we show how Binance Coin remains unfazed by the recent 7,000 bitcoin hack.Binance Coin Maintains Parabolic Run Against Tether (USDT)On the day of the hack, BNB plunged by 6.89% against USDT as it opened at 22.2018 and closed at 20.6602. The bleeding continued until May 10 when the market dropped to as low as 18.30 for a total loss of 17.57% due to the hack. Since then, the BNB market has been incredibly bullish.Binance Coin in the pedal to the metal mode even after the hack | Source: TradingViewA look at the daily chart shows that the pullback from the hack was nothing but a setup for a big comeback. Bulls resumed the parabolic run on May 10 and have not looked back since. On its way up, it converted former resistance of 24 into support. On May 25, Binance Coin even made a fresh high against Tether at 35.4888.From the low of the hack, BNB is up by 90% against USDT. More importantly, it looks like the ascent is not going to stop soon.Binance Coin Looks Awfully Strong Against BitcoinBinance Coin performed poorly against bitcoin following the security breach. On May 7, it opened at 386,230 satoshis (0.0038623) and closed at 353,680 satoshis (0.0035368) for an 8.43% drop. The plummet continued until May 11 when the market nosedived to 276,450 satoshis (0.0027645). All in all, Binance Coin suffered a 28.42% loss against bitcoin due to the theft.Binance Coin recovering nicely after the hack against bitcoin | Source: TradingViewIn the chart above, you see how the bulls used the drop to convert former resistance of 280,000 satoshis (0.0028) into support. Once that level was cemented, Binance Coin went on a strong V rally and climbed as high as 436,050 satoshis (0.0043605) on May 24. That’s a staggering growth of more than 57.73% from the low of 276,450 satoshis (0.0027645) on May 11.In addition, Binance Coin appears to be forming a large symmetrical triangle on the daily chart. This pattern suggests a continuation of the current bullish trend. If our read is correct, the crypto might go as high as 500,000 satoshis (0.005) in the next few weeks.Bottom LineThe hack may have stalled Binance Coin’s run against Tether and bitcoin. Nevertheless, the crypto remains unfazed. It has not only managed to recover all losses, but it also skyrocketed against both USDT and BTC. Bears should closely reconsider their position or risk getting slaughtered.Disclaimer: The views expressed in the article are solely those of the author and do not represent those of, nor should they be attributed to, CCN.Disclaimer: The views expressed in the article are solely those of the author and do not represent those of, nor should they be attributed to, CCN. About The AuthorKiril NikolaevKiril is a CFA Charterholder and financial professional with 5+ years of experience in financial writing, analysis and product ownership. He has passed all three CFA exams on first attempt and has a bachelor’s degree with a specialty in finance.Kiril’s current focus is on cryptocurrencies and funds, as he does his own crypto research and is a Product Manager at Mitre Media. He also has his personal website, InvestorAcademy.org where he teaches people about the basics of investing.He owns Bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.This article was edited by Gerelyn Terzo.
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Crypto Bulls Wrestle Back Control of BNB after Binance’s $40 Million Hack

Crypto Bulls Wrestle Back Control of BNB after Binance’s $40 Million HackOp-edBinance Coin (BNB) is up by 90% against USDT and 57% against bitcoin since the hack in which 7,000 bitcoins were stolen from the exchange. | Source: ShutterstockBy CCN: Binance, the leading cryptocurrency exchange in terms of volume, suffered a massive blow on May 7 when hackers ran away with 7,000 bitcoins. At the time, the total haul was valued at roughly $40 million. Binance CEO Changpeng “CZ” Zhao was quick to reassure their user base by stating that the exchange will cover the damages through the Secure Asset Fund for Users, or SAFU. Nevertheless, some Binance Coin (BNB) holders panic-sold under the assumption that CZ would dump BNB to pay for the damages. They were wrong. In this article, we show how Binance Coin remains unfazed by the recent 7,000 bitcoin hack.Binance Coin Maintains Parabolic Run Against Tether (USDT)On the day of the hack, BNB plunged by 6.89% against USDT as it opened at 22.2018 and closed at 20.6602. The bleeding continued until May 10 when the market dropped to as low as 18.30 for a total loss of 17.57% due to the hack. Since then, the BNB market has been incredibly bullish.Binance Coin in the pedal to the metal mode even after the hack | Source: TradingViewA look at the daily chart shows that the pullback from the hack was nothing but a setup for a big comeback. Bulls resumed the parabolic run on May 10 and have not looked back since. On its way up, it converted former resistance of 24 into support. On May 25, Binance Coin even made a fresh high against Tether at 35.4888.From the low of the hack, BNB is up by 90% against USDT. More importantly, it looks like the ascent is not going to stop soon.Binance Coin Looks Awfully Strong Against BitcoinBinance Coin performed poorly against bitcoin following the security breach. On May 7, it opened at 386,230 satoshis (0.0038623) and closed at 353,680 satoshis (0.0035368) for an 8.43% drop. The plummet continued until May 11 when the market nosedived to 276,450 satoshis (0.0027645). All in all, Binance Coin suffered a 28.42% loss against bitcoin due to the theft.Binance Coin recovering nicely after the hack against bitcoin | Source: TradingViewIn the chart above, you see how the bulls used the drop to convert former resistance of 280,000 satoshis (0.0028) into support. Once that level was cemented, Binance Coin went on a strong V rally and climbed as high as 436,050 satoshis (0.0043605) on May 24. That’s a staggering growth of more than 57.73% from the low of 276,450 satoshis (0.0027645) on May 11.In addition, Binance Coin appears to be forming a large symmetrical triangle on the daily chart. This pattern suggests a continuation of the current bullish trend. If our read is correct, the crypto might go as high as 500,000 satoshis (0.005) in the next few weeks.Bottom LineThe hack may have stalled Binance Coin’s run against Tether and bitcoin. Nevertheless, the crypto remains unfazed. It has not only managed to recover all losses, but it also skyrocketed against both USDT and BTC. Bears should closely reconsider their position or risk getting slaughtered.Disclaimer: The views expressed in the article are solely those of the author and do not represent those of, nor should they be attributed to, CCN.Disclaimer: The views expressed in the article are solely those of the author and do not represent those of, nor should they be attributed to, CCN. About The AuthorKiril NikolaevKiril is a CFA Charterholder and financial professional with 5+ years of experience in financial writing, analysis and product ownership. He has passed all three CFA exams on first attempt and has a bachelor’s degree with a specialty in finance.Kiril’s current focus is on cryptocurrencies and funds, as he does his own crypto research and is a Product Manager at Mitre Media. He also has his personal website, InvestorAcademy.org where he teaches people about the basics of investing.He owns Bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.This article was edited by Gerelyn Terzo.
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