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Bitcoin Dominance Sinks To 12-Month Low
  • Despite its recent rally, Bitcoin dominance has slid to a 12-month low, signaling renewed strength in the altcoins markets.
  • The leading cryptocurrency now represents just 61% of the $359.5 billion combined cryptocurrency capitalization. That’s down from 67% in mid-May and a local high of 69.9% last September.
  • Bitcoin’s relative decline in dominance comes as the collective crypto market cap tests major resistance.
  • An extra $11 billion in value would see the combined crypto capitalization break above $370 billion for the first time since May 2018.
  • The combined capitalization of altcoins surged to $140 billion in July for the first time since 2018. Altcoins grew from roughly 32% to represent 40% of volume on Binance Futures.
  • The value of assets locked in DeFi also doubled from $2 billion to $4 billion. Binance attributed the strong performance in altcoins to the growing popularity of DeFi protocols and the anticipation of Ethereum staking.
  • Read the full story here.
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Posted on August 7, 2020
Posted: August 7, 2020
North Korea Hackers Using Altcoins To Convert $1.58 Billion In Stolen Cryptocurrencies Into Cash
  • North Korea hackers are believed to be using altcoins to convert upwards of $1.5 billion in stolen funds into cash.
  • The hackers deliberately transact using privacy-focused altcoins as they are hard to trace and track.
  • The U.N. experts reportedly state that the North Korean hackers try to make their funds untraceable using “mixers” — an advanced service that mixes cryptocurrency funds of various users to preserve privacy.
  • Fred Plan, a senior analyst at cybersecurity firm Mandiant Threat Intelligence, believes North Korea hackers have an advantage, given that they are backed by the resources of a nation-state.
  • North Korea is suspected of conducting numerous virtual heists and stealing funds worth billions of dollars. Between 2017-18, cybercriminal group Lazarus stole an estimated $571 million.
  • In 2019, North Korea had stolen almost $2 billion in cash and cryptocurrencies through cyberattacks to fund its nuclear program. The country’s sponsored hacks reportedly account for more than 65% of stolen cryptocurrencies.
  • Read the full story here.
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Posted on August 7, 2020
Posted: August 7, 2020
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Full Length Articles

Monero’s Hashrate Experienced Its Largest Single Day Gains Ever
Monero has experienced its biggest single day gain in hashrate since its creation back in 2014. August 6, Monero (XMR) has experienced its biggest increase in hashrate since the...
Posted on August 7, 2020
Bitcoin Plunges Under Pivotal $11.5k Support: What Do Analysts Think Is Next?
Bitcoin is slipping lower after peaking at $11,950 just the other day. This marked the second major rejection at the pivotal $12,000 level in the span of a week....
Posted on August 7, 2020
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