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Binance Coin [BNB] spikes by 5%; reason speculated to be CZ’s statement on Bitcoin SV [BSV]

Namrata Shukla

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Binance coin [BNB] spikes by 5% following CZ's statement against BSV
Source: Pixabay

The cryptocurrency market saw a decline in the prices of most major cryptocurrencies on April 14. However, Binance Coin [BNB], the seventh largest coin, managed to appreciate considerably in an otherwise red market. Binance Coin, which had been suffering the wrath of the bear earlier this week, saw a sharp rise in its price, with many enthusiasts associating the surge to CZ’s comment on Bitcoin SV and Craig Wright.

At press time, BNB noted a growth of 5.22% over the past day, while almost all other coins were painted vermillion. The coin was valued at $19.28, with a market cap of $2.72 billion. It noted a 24-hour trading volume of $180 million and noted a 0.76% hike over the past week following a minor recovery. However, the coin slipped by a minimal 0.02% over the past hour.

Source: CoinMarketCap

Source: CoinMarketCap

BNB has been observing a gradual rise in its price since April 12 after Binance CEO and founder CZ threatened to delist Bitcoin SV over the “Craig Wright is Satoshi” debate. The Binance community, along with many other prominent crypto-enthusiasts have been supporting CZ’s decision and have since been demanding the delisting of BSV. However, CZ has not revealed any timeline or condition related to his alleged threat.

BNB was highly traded on Binance’s exchange via the BNB/USDT pair and BNB/BTC pair. BNB/USDT pair took the first place as it noted a volume of $42 million. BNB/BTC, in the second place, managed to register a volume of $40 million. After the first two places, the trading volume of BNB dropped to $14 million, which was registered by LBank via the BNB/USDT pair.





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Namrata is a full-time journalist and is interested in covering everything under the sun, with a special focus on the crypto market.

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GateHub: Stolen XRP funds transferred to prominent exchanges

Namrata Shukla

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GateHub stolen XRP funds moved to Bitfinex and OKEx
Source: Pixabay

The GateHub hack that took place earlier this month resulted in the exchange losing nearly 23 million XRP worth approximately $9 million. However, Whale Alert, a tracker of large crypto transactions, alerted the community of these stolen funds being moved to various different exchanges.

One of these exchanges was identified to be Bitfinex, which received 400,025 XRP on June 16 at 10:57:22 UTC. The sender’s address was r4hyDYXv7iV3oCahxQzqYYfgxwyBx3AyMN and was identified to be from the GateHub hack 2019. The receiver’s address was identified to be Bitfinex’s- r9o9MerrS7d2GAEs6JPj4v4JcvZAJNtLUY. The hash rate of the transaction was 21124F7818A2903E9750456D603CC9AACC9DBE6CE2EF0AA191C734339B4CA682 and the transaction details were as follows:

Source: Whale Alert

Source: Whale Alert

Another transaction was noted to take place to the Bitfinex wallet address where 100,000 XRP was transferred from another identified GateHub hack address. The identified Bitfinex’s wallet address was rDcz7P9YMpffLKhRBovTzhUr3wKtk3y9q7. This wallet address was quick to transfer the funds immediately to another exchange, OKEx. OKEx previously received 3,000 XRP from the stolen funds to an identified OKEx address- rUzWJkXyEtT8ekSSxkBYPqCvHpngcy6Fks. The hash rate of the transaction was noted to be BE97F68A20E996A2E1A37228DCBD45A1F26E8E2B3A842E9FCFFF7721157C1C37 and following were the transaction details:

Source: Whale Alert

Source: Whale Alert

The stolen funds were moved to another prominent exchange, Binance, and CZ was swift to inform Whale Alert that he would look into it. However, the crypto users did not find any relief about these funds going to other exchanges as the exchanges did not respond to the large transactions.





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