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Ethereum Attacked, Altcoins Boost, Bitcoin vs Gold

  • altcoins
  • Binance
  • gold
  • bitcoin
News list

Ethereum Classic is under hackers attacks. Altcoins keep on growing - this time Binance Coin is a record-breaker. How different are investing behaviours of different generations of investors.

Hackers attack Ethereum Classic

This week Ethereum Classic has been attacked by hackers at least twice. Altering more than four thousand blocks of the blockchain helped the malefactors withdraw more than 5 mln USD. It is also well possible that soon the system will find even more damage.

The hackers managed to break the system and withdraw funds to their wallets with the use of OKEx and Binance exchanges. Ethereum Classic experienced a similar attack a year ago, in July 2019. Back then malefactors managed to withdraw 400´000 USD, 100´000 of which were actually returned to the blockchain later.

Vitalik Buterin, one of the founders and developers of the Ethereum blockchain, advised Ethereum Classic to switch to Proof-of-Stake consensus algorithm to prevent harm from such attacks in the future.

Hackers attack Ethereum Classic

Binance Coin Shows Record Results

As we wrote in our previous news article, 2020 has truly become an unprecedentedly successful year for so-called altcoins – many of them have grown in price very significantly. Analysts even call it 'Altcoin Season'.

Now another cryptocurrency has skyrocketed and reached its maximum in 5 months. This time it's the coin of Binance exchange. Binance Coin growth was sparked by the news from the same exchange on introducing the Sandbox Game tokens.

Among other altcoins showing great results this week and worth mentioning are Chainlink and Tezos. Oh well, Bitcoin is showing less volatility, so traders start paying more attention to the second line of coins.

Binance Coin Shows Record Results

Bitcoin vs. Gold

JP Morgan analysts share their observations on how investors' age affects their choices. The investment bank specialists believe that recently more experienced investors have been choosing precious metals, gold in particular, and are getting rid of crypto which, in its turn, is bought by younger players.

Who will win - more conservative gold lovers or progressive crypto enthusiasts? That remains to be seen, but many experts say that the Coin King has a very promising future. For instance, Anthony Pompliano, one of Morgan Creek Digital founders, says that Bitcoin may one day reach the level of 450´000 USD.

Pompliano likened Bitcoin to gold and claimed that digital assets were always estimated higher than traditional analogue ones. Not all of the analysts agree with such an optimistic forecast, however, the coin does show growth again.

Bitcoin vs. Gold

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