Crypto Summary of all news from cryptocurrency space which had been published on the last 24 hours
1) Binance Offers a $250,000 Bounty for Hacker Tip-Offs
Binance, founded by Zhao Changpeng, is offering the equivalent of $250,000 (paid in cryptocurrency) for information that leads to the arrest of hackers who targeted the venue last week, it said in a statement on Sunday. The exchange has set aside $10 million for future bounties and is encouraging other platforms to do the same, it said.
Binance disclosed last week that it had been the target of a “large-scale phishing and stealing attempt.” While the exchange said “all funds are safe,” Binance noted that it was unable to reverse some trades from accounts targeted by the hackers.
2) Wall Street Analyst Creates ‘Bitcoin Misery Index’ For Traders
Wall Street strategist and co-founder of Fundstrat Global Advisors Thomas Lee has developed a ‘contrarian index’ that lets investors know how ‘miserable’ Bitcoin (BTC) holders are based on current prices, CNBC reports.
The index is called the Bitcoin Misery Index (BMI) and was designed as a trading tool for investors to take advantage of volatility in BTC exchanges. BMI is calculated on a scale of zero to 100, taking into account factors such as volatility and the number of winning trades out of the total. When the indicator is low, the buying opportunity is at its best, and vice versa.
At the moment, the Bitcoin index is at 18.8, which is an absolute minimum since Sept. 6, 2011, the report said.
3) Study Finds $3B Worth of Faked Cryptocurrency Volumes and Wash Trades
On March 10 a cryptocurrency trader and researcher published a report on how he believes $3 billion worth of cryptocurrency trade volumes, primarily from a couple of exchanges, are concocted. The author of the study, Sylvain Ribes, alleges that the exchange Okcoin has been fabricating up to 93 percent of its trade volumes.
Sylvain Ribes has published a study that reveals some interesting information about trade volumes stemming from exchanges like Okcoin (Okex) and Huobi, which may be falsifying their trade volumes. Ribes calculated his data from order books across all major exchanges to “measure how badly market selling $50k USD worth of each cryptocurrency would crash the price.”
4) Google Suspending Cryptocurrency Related Ads
Some advertisers using Google Adwords to promote cryptocurrency related businesses are seeing a drop in their ad views, with other users posting about suspension of both their ads and their accounts, Finance Magnates reported on March 8.
According to data given to Finance Magnates anonymously by an ICO marketing company, the views of its advertisements through Adwords have dropped by the thousands. Below is a table from Finance Magnates showing views of the company’s advertisements over a 24 hour period.
In January of this year, Facebook officially banned cryptocurrency-related advertisements, citing “misleading or deceptive promotional practices.” An unnamed source told Finance Magnates that Google is also considering an official ban of cryptocurrency-related advertisements this March.
5) South Korea: 20 Year Olds “Most Active” in Cryptocurrency Investment
South Korean news agency, Yonhap, has reported that according to a recent survey, people in their 20s are the front-runners in cryptocurrency investment. The results are not surprising – younger generations from all around the world prefer investing in this new industry rather than stocks and bonds.
Korea Financial Investors Protection Foundation surveyed 2,530 people, between the ages of 25 and 64, and found that 22.7% of 20-somethings bought cryptocurrencies. They were followed by people in their 30s by 19.3%, 40s by 12%, 60s by 10.5% and 50s by 8.2%.
However, 60-year-olds were the ones who invested the largest amount of money in cryptocurrencies with an average total of $6,119. 50.
/source
https://news.bitcoin.com/study-finds-3b-worth-of-faked-cryptocurrency-volumes-and-wash-trades/
https://www.ccn.com/south-korea-20-year-olds-active-cryptocurrency-investment/
https://cointelegraph.com/news/crypto-advertisers-on-google-adwords-report-ad-suspensions-and-account-terminations
https://cointelegraph.com/news/wall-street-analyst-creates-bitcoin-misery-index-for-traders
https://www.bloomberg.com/crypto