South Korea-based cryptocurrency exchange, Upbit, recently announced the re-opening of deposits and withdrawals for Ethereum on the platform. These services had been closed for a long time following a hack that stole ~$50 million in crypto-funds from the exchange.
“A new wallet system has been adopted for deposit and withdrawal of cryptocurrencies,” Upbit said, adding, “it is difficult to specify whether to open or withdraw items one by one or all at once in the future.” Despite losing millions of dollars in the hack, Upbit had assured its users that it will provide full refunds with its corporate assets.
According to the official announcement, Upbit has updated its Ethereum wallet security system and declared the old addresses, from which funds were stolen, obsolete. Further, the announcement stated that users are required to request a new address from their wallets to enable deposits and withdrawals.
The announcement also requested users to not send ETH to the previous wallet address, asking users to delete the previous address from other exchanges or personal wallets. “The recovery of ETH sent to the previous address from now on could be a long and
Upbit, a South Korean exchange, was hacked in late-November last year, a hack that resulted in 342,000 ETH being stolen. The stolen crypto was later traced to a few unknown wallets, with the stolen crypto making intermittent movements in the months since. Several transactions of 1337 ETH were later traced to wallets on the Huobi exchange, a development that was inferred by many to be the hacker mocking those affected by the stolen funds. Following the hack, Upbit transferred all of its holdings from hot wallets to a more secure cold wallet storage. Withdrawal and deposit support were restored for BTC, EOS, LTC, and XRP last week. TUSD, PAX, MEETONE, HORUS, EOSDAC, CHL, BLACK and ADD are all listed as ‘Preparing’ under the ‘Wallet Status’ tab on the exchange and could be the next cryptocurrencies to have withdrawals and deposits re-enabled.
ETHEREUM: Will It Rise Again? – The Coin Republic
- Ethereum is one of the leading and most successful Cryptocurrency that is out there, it valued at 168.16 USD.
- Analyst Bobby Ullery believes that blockchain technology will play a crucial role in the future economy and international trade.
- The predictions state that in January Ethereum will make it to $720, and by the end of the year it will reach $1488.
Ethereum is one of the leading and most successful Cryptocurrency that is out there. As of now, it valued at 168.16 USD. There has been quite a momentum in the market price as we entered the New Year 2020.
People still have faith in ETH, and they predict that it will rise, and by the end of the year, it will equal or break its own all-time high back in 2017 when it increased by 10,000%.
Looking at the history of the Cryptocurrency market and its volatile nature, people still try to predict the price of the market. There are a few predictions that have gained much popularity. One is from online analyst Bobby Ullery, and the other is from CoinKir.
Eth Price Prediction by Analyst: Bobby Ullery
Analyst Bobby Ullery believes that blockchain technology will play a crucial role in the future economy and international trade. According to him, Bitcoin and Ethereum will each hold 25% of the entire cryptocurrency industry, which he predicts will have a total market capitalization of $4.5 trillion in 2020.
For the people who do not understand market capitalization pay close attention. You get the value when you multiply the number of coins in circulation with
For Ullery’s prediction to come true, the Ethereum value should rise by 775%. This is not at all an unrealistic speculation considering its previous rises.
Eth Price Prediction by CoinKir
Coinkir gave another prediction by using technical price analysis. This method tries to find trends in price movements in the past — this method used in real-world financial markets.
But the problem arises is that the real world market has more than 50 years of data which is not available in the cryptocurrency market.
Although the predictions state that in January Ethereum will make it to $720, and by the end of the year it will reach $1488. If this prediction is correct, then the market capitalization of Ethereum will be $148 billion.
Apart from these predictions, some factors can gravely affect the price of Ethereum in the coming years. With the emergence of new protocols like plasma and sharding that meant to increase the number of transactions in a shorter time, If Ethereum inculcates these protocols, the prices will shoot up instantly.
Another factor is shifting from POW to POS will also help in the improvement of validating transaction much faster. Although these factors are highly effective, it is also essential to know that these ideas are in their early days, and no one knows how long will it take. One can only wait and keep himself updated with all these development.
Ethereum Price Analysis: ETH/USD breaks above flag formation and $170 barrier
- The SMA 20 curve has crossed above the SMA 50, which is a bullish sign.
- The RSI indicator is creeping along the edge of the overbought zone.
ETH/USD daily chart
ETH/USD bulls made a comeback this Friday, following a bearish Thursday. The price went up from $164 to $171, breaking above the flag formation in the process. After falling back into the
Ethereum (ETH/USD) forecast and analysis on January 18, 2020
Cryptocurrency Ethereum (ETH/USD) is trading at 165. Cryptocurrency quotes are trading below the moving average with a period of 55. This indicates a bullish trend on Ethereum. At the moment, cryptocurrency quotes are moving near the middle border of the Bollinger Bands indicator stripes.
Ethereum (ETH/USD) forecast and analysis on January 18, 2020
As part of the Ethereum forecast, a test of level 160 is expected. Where can we expect an attempt to continue the growth of ETH/USD and the further development of an upward trend. The purpose of this movement is the area near the level of 183. The conservative buying area Ethereum is located near the lower border of the Bollinger Bands indicator strip at level 147.
Ethereum (ETH/USD) forecast and analysis on January 18, 2020 implies a test level of 160. Further growth is expected to continue to the area above level 183. The conservative buying area is located near area 147. The breakdown of the growth option for cryptocurrency will be the breakdown of level 142. In this case, we should expect further fall.