Monday, July 4

Ethereum suffers in the heat of cyberattack and BitMart hack

Right now Ethereum is in full update. Arrow Glacer is called, planned these days, but much less forceful, at least on paper than London hardfork.

And your goal is more than clear: buy time, around a few months, possibly two, to move the network to Ethereum 2.0 and delay what is known as “the difficulty bomb”, a code that could make mining and slowing down the Ethereum network more difficult. All this for that expected change to the PoS proof of stake, from the current PoW proof of work, necessary for the achievement of Ethereum 2.0.

Pending its achievement, the truth is that Ethereum, it continues with problems that have affected its price to date.First the pernicious effect of the omicron variant of unexpected consequences, on which light and good vibes are shed while Pharmaceuticals like Pfizer confirm that a third dose will do to counteract the impact of the new and contagious variant of Covid-19.

Thus, the truly negative for value has come from another aspect: a cyber attack including theft.We are talking about the hacking, little by little more details of exchange platform BitMark, which appears to have wrapped up one of the biggest crypto thefts since these exist

Ethereum and the theft at BitMark

And it also happens that half of it, of the total $ 196 million, about 100 go directly to Ethereum, affected not only as a digital currency but also affecting cryptocurrencies that circulate through its blockchain network. And after the verification, even if he did not recognize it first, of the company, we know that the abrupt and surprising fall on Saturday, with losses that in the case of Bitcoin exceeded 22% had this underlying reason.

After the storm, a bit of calm despite the effect.In the last five traded sessions Ethereum moves with losses of 6.2% with an unfortunate month in which the falls reached 5.90%. But it is difficult to tarnish a year like the one that assets are experiencing in the cryptocurrency markets. Hence, in the three preceding months, the advance was 23.5% and in the year I earned 480.2%, while, since December of last year, the revaluation reaches 644%.

Ethereum annual price of the asset

As we all know here comes into play, among others, the danger that it entails the lack of regulation of these currencies and their circumstances at a global level.Some thefts, which are usually more common and less known than we think, one of the things to improve in the blockchain universe.

At the moment Ethereum, as we see, is touched, but not by far damaged or sunk, since its capitalization as we see in the graph sIt is still the 15th in the world of global assets and exceeds half a billion in the market.

Ethereum asset capitalization in the world rankings

The premium indicators of Investment Strategies show us that Ethereum, in consolidation mode and with a reduction of two and a half points, reaches a total score of 6.5 points out of 10 possible for cryptocurrency. The medium-term trend is moving downwards, with a decreasing business volume in the medium term and a range of increasing amplitude in the medium term as well.

On the other side, on the positive, We see how in the long term the trend of Ethereum moves upward, with positive total, slow and fast moment, growing long-term business volume and the volatility of the security, in its amplitude range, is decreasing in the long term.

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