The Price of Hedera Rises after Elon Musk Tweets a Symbol ℏ

Alexander Salazar
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The Price of Hedera Rises after Elon Musk Tweets a Symbol ℏ

If the value of HBRA loses the support at USD 0.20, the ground would be clear for USD 0.70. The Hedera price is undergoing a significant corrective process but must hold onto USD 0.16 to avoid changing the trend considerably.

The value of the native token of the Hedera network, HBAR, recently jumped sharply just after Elon Musk tweeted a symbol ℏ. Nobody knows whether it is a reference to the cryptocurrency or just a coincidence, but it certainly influenced users in the crypto space.

HBAR is currently trading at around USD 0.1977 and has accumulated a loss of 24.6% in the last week. Its daily trading volume is above USD 137.99 million, and its market capitalization is about USD 3.85 billion. It occupies 32nd plays in the cryptocurrency ranking, according to CoinGecko.

The tweet posted by Musk only contained the symbol ℏ, which was enough for Internet users to look up what it was. Many concluded that he was referring to HBAR, the native token of the Hedera network.

The Price of HBAR Accumulates a 27% Profit in a Few Hours

The reason why the followers of Elon Musk turned their attention to HBAR is that the symbol ℏ is the corporate logo of Hedera.

Since the winks of the billionaire businessman have become a custom, traders are on standby to quickly speculate on cryptocurrencies.

What happened after he posted his tweet led the value of HBAR up to 27%, helped by the rally seen in the cryptocurrency market.

Weekly Analysis of the Hedera Price after the Tweet of Muck

The HBAR/USDT weekly chart shows that the rally is irrelevant, as a short/medium-term bearish inclination remains intact.

The price of the Hedera token has been reaching increasingly low lows after hitting an all-time high of USD 0.57.

Currently, the value of HBAR is defending the support at USD 0.20, but the trend indicates that it may lose that level soon. If that happens, the ground would be clear for USD 0.16.

Before thinking that a significant upcoming rally will occur, there should be increasingly high lows first. If the price broke the resistance at USD 0.25, that would be an early sign that this will happen.

Monthly Analysis of the Price of HBAR

The price of the Hedera token is currently undergoing a significant corrective process, as is occurring in the entire crypto market.

After making a double top at USD 0.45, HBAR is close to visiting the neckline of that formation at USD 0.16. The price must hold onto it to avoid a significant change in the trend.

It seems that HBAR reached the retracement bottom in June last year after leaving rejection above the 61.8% Fibonacci level. If that were true, there could be new all-time highs in the coming months.

However, if the crypto winter starts, there would probably de selling as high as 88% Fibonacci around USD 0.08 before a new rally begins.

By Alexander Salazar

Bitcoin seems to be Flustered due to a loss of streak that harms Meta, Paypal, and Netflix

Jenson Nunez
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Bitcoin seems to be Flustered due to a loss of streak that harms Meta, Paypal, and Netflix

Meta and PayPal forecast little income and user base increase for 2022. Crisis of confidence, lack of liquidity, and geopolitical tensions harm the stock markets.

The behavior of financial markets is currently facing ups and downs; when the value of a product reaches high peaks due to speculation and combining particular features, at some point, its price could accelerate steadily fast.

This acceleration might be happening to the companies and assets that benefited the most during the pandemic. While shares of companies like Meta (former Facebook), PayPal, Spotify, and Netflix skyrocketed when the COVID-19 lockdown was at its best, today they are revealing some of the most shocking decays since they got created.

Mark Zuckerberg’s company lost 200 billion dollars in a matter of a day. It is the worst decline registered by a commercial entity in the history of the United States of America. The situation took effect a few weeks ago, but the old Facebook has not yet been able to recover, and its shares are at a price never seen since the previous year.

Bitcoin Might be Facing Depreciation Just in the Same Way as Meta, and PayPal Shares Do

Meta is not the only entity that received damage, but also PayPal, which currently carries out transactions at a price it had achieved before the pandemic. Although Spotify and Netflix might decline, they also register losses that cover 45% of their value compared to the most considerable price they approached last year.

While various analysts believe that the violent tensions between Russia and Ukraine keep the regions on guard, others highlight that the changes that happened in daily life, with the introduction of the COVID vaccines, do not favor the almost imminent evolution of these entities.

Some analysts may argue that a currency like bitcoin could also be a prisoner in this massive cage of assets that temporarily got benefited from the pandemic outbreak. Undoubtedly, digital currency also experienced a sudden price increase last year because it works as a store of value against the empowered dominion of the dollar.

Liquidity Crisis and Political Tensions in Europe

Two external events are impacting every market to a greater or lesser extent. These events are the political tensions between Russia and Ukraine that keep investors in expectation and cause bombastic volatility in digital asset prices. On the other hand, a lack of liquidity storms stock markets because of the eradication of the aid created by governments to cover the debacle that the pandemic generated to the economic environment.

Bitcoin has been recently floating with amounts between $37,000 per unit and $40,000. Like other stocks and products on the stock market, the conflict between the two European countries worsens and puts the world market on the edge of a sword. And therefore, no one would desire to deal with such a risky environment.

By: Jenson Nuñez

Reports Highlight that a Ukrainian Military Organization Obtained more than $400,000 in Bitcoin Donations

Jenson Nunez
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Reports Highlight that a Ukrainian Military Organization Obtained more than $400,000 in Bitcoin Donations

The donations capitalized by Come Back Alive in Bitcoin funds surpassed in these last two days all the donations originally collected since August 2021. Analysts described this phenomenon as the desire of people worldwide to support Ukraine in the midst of the armed invasion encouraged by Russia.

A report released by UK-based blockchain analytics firm Elliptic unveiled that the Ukrainian military organization “Come Back Alive” had acquired a total of $400,000 in Bitcoin funds amid the military conflict between Ukraine and Russia.

According to Elliptic’s research director, Jess Symington, the Come Back Alive organization is a group that brings back up to soldiers of the Ukrainian army through different methods, one of these methods is the reception of Bitcoin as donations.

However, from August 2021 to February 22, the entity had only collected at least USD $570,000 in BTC funds, capitalizing income of USD $4,000 or USD $5,000 in the digital currency monthly.

After the outbreak of the war and the violent incursions by Russia into Ukrainian regions, donations reached a high peak, capitalizing almost $400,000 in BTC in the last hours since the invasion started.

According to analysts, there is a considerable growth in donations made to this or other organizations that support the Ukrainian military, especially given the worrying view in the country where local troops will have to show presence and fight in front of the apparent Russian invasion of Ukraine.

Come Back Alive Received at least $400,000 as Donations made in Bitcoin

Some reports reveal that many Ukrainian organizations had already been adopting various crowdfunding models since 2014, a time when the nation struggled with violent tensions after the dismissal of former president Viktor Yanukovych, who sided in favor of Russia and got removed from office right after the Maidan revolution.

According to Come Back Alive, the organization handles other financing procedures, as is the case with its Patreon account, where followers allocate funds to support its cause.

Financing in the Midst of the Situation

Due to what happened in Europe in recent days and having many lines of financing partially impeded, the Ministry of Defense of Ukraine revealed that it has started accepting donations to support the country’s army by creating a designated bank account for bank operations in foreign currency. The account is exempt from the measures released by the central bank since it backs up the government’s mobilization strategies.

However, other reports pointed out that there were a lot of requests from natural and legal individuals who are not residing in Ukraine and desire to donate funds; the interested parties also addressed the opportunity of donating funds in cryptocurrencies because they find the activity easier to get carried out.

On Twitter, many cryptocurrency enthusiasts have requested the army to accept donations in digital currencies. Not everyone considers Bitcoin to be the best alternative to receive donations of this type due to its volatile fluctuation. This is why some have suggested that the military accept donations in stable coins, such as USDC.

By: Jenson Nuñez

Pirated Movie Download was the Cause of a Hacking of Spain’s 2gether Exchange

Jenson Nunez
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Pirated Movie Download was the Cause of a Hacking of Spain’s 2gether Exchange

The extracted funds get currently valued at approximately €7 million in bitcoin and ether. A 2gether employee downloaded a pirated movie that concealed Trojan malware.

A Trojan malware hidden in a pirated movie led to the computer system of the 2gether exchange, which suffered a trojan attack and millionaire extraction of bitcoin and ether back in 2020; the Civil Guard from Spain highlighted that it was a highly advanced attack.

The police force revealed that the Cybercrime Department team captured five people linked to the attack in an official statement. Local media highlighted that it could be the first case of this type cleared up by the Iberian authorities.

2gether, a Madrid-based startup that focuses on purchasing, selling, and custody services for bitcoin and other digital assets, was the target of a cyberattack at the end of July 2020.

The directors stressed that the attackers extracted many cryptocurrencies, mostly bitcoin and ether, valued between 1.2 and 1.3 million euros. According to the authorities, the stolen items currently have a value of EUR 6 million.

By implementing an operation named Operation 3Coin, the Iberian police unveiled that the attackers used a computer virus type RAT to enter the internal network of 2gether. The virus gained access through the exchange’s system after an unsuspecting employee downloaded a pirated superhero film from a non-secure website onto a work computer.

A Planned Hack

The attackers took at least six months to study how the cryptocurrency company works before carrying out the illicit activity. According to the statement, “once they discovered all the procedures, features and structure of the entity, they spotted the weak points and accessed the system using an interposed computer network to command the transfer of the assets to a wallet.

The investigation opened new doors for the authorities to detect and arrest the website operator from which the Trojan malware got distributed. Subsequently, the investigators spotted the other four people, who supposedly received part of the extracted assets.

On the other hand, this week, the police initiated new investigations that involved another individual, who was supposedly posing as applying control over the leader of the group through the consumption of illicit drugs usually related to rituals like the Sapo Bufo, which is an initiation ritual with a hallucinogen drug.

The 2gether attack damaged at least 5,500 users trading on the network. The company had to deal with many complaints from users harmed by the attack; these users even tried to file a class-action lawsuit. On the other hand, To maintain its activities, the company opted for crowdfunding, through which it already collected at least EUR 1.2 million.

By: Jenson Nuñez

The Salvadoran Government Opens a Public Veterinary Hospital Funded with Bitcoin

Alexander Salazar
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The hospital will begin treating the pets of citizens on February 26th. The government trust FIDEBITCOIN provides the funding for the operation of the hospital.

Nayib Bukele, the President of El Salvador, recently inaugurated the public veterinary hospital Chivo Pets, whose construction he announced in October. It is the first time that such an institution receives funding with profits from the rise in the price of Bitcoin (BTC) in the Central American country.

The hospital will open its doors to the public on February 26th and attend to patients from 7:00 a.m. to 10:00 p.m. The Presidential House said that Salvadoran citizens could request appointments for their pets through http://chivopets.sv or by calling 195.

The Salvadoran government noted that all procedures would have a low price. In that way, they hope to help those not having the financial capacity to pay for a private veterinarian.

They estimate that the new pet medical facility with twelve offices will allow for 384 daily consultations.

They explained that the clinical laboratory of Chivo Pets is an essential complement to the daily activity of veterinary doctors. It will allow them to accurately diagnose the ailments of each pet, ranging from kidney profiles to liver profiles.

The veterinary hospital has stations: infectious and non-infectious cat or dog hospitalization. Besides, it has four operating rooms, one of which is for patients admitted for emergencies. There is also an imaging area divided into radiology and ultrasonography.

It also has grooming and rehabilitation areas for dogs. Among other things, the hospital has coworking positions available, along with two classrooms and an auditorium. That will allow the staff to integrate, generating an environment to exchange experiences and knowledge that benefit professionals and patients.

A Government Bitcoin Trust Provides Funds to Build the Veterinary Hospital

As mentioned above, the construction of the Salvadoran public veterinary hospital received funding with profits from the rise in the price of Bitcoin. The government trust FIDEBITCOIN used those returns for that in October when the currency was worth more than USD 55,000.

The construction of the work was possible thanks to the surplus of the trust. Nayib Bukele said that the government Bitcoin trust had a USD 4 million surplus regarding the amount the law establishes that it must manage.

The government trust of USD 150 million provides liquidity for converting BTC into US dollars to users of the Chivo wallet. Furthermore, the money for the USD 30 bonus worth of Bitcoin received by each user of the above app also came from there.

El Salvador is the first country that has adopted Bitcoin as legal tender. Individuals and companies, as well as public administration agencies and other state entities, can use Bitcoin as a currency in El Salvador.

The pioneering cryptocurrency plays a relevant role in the economy, which many governments have not overlooked. The possibility to develop projects that benefit the community is just one of the many advantages offered by Bitcoin.

By Alexander Salazar

Wasabi Wallet Failed to Camouflage the Identity of the Hacker who Extracted USD 11 Billion

Jenson Nunez
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Wasabi Wallet Failed to Camouflage the Identity of the Hacker who Extracted USD 11 Billion

A Forbes research revealed the identity of the suspected hacker who stole USD 11 billion. A private feature of the Chainalysis data explorer detected personal transactions.

Forbes magazine posted an investigation highlighting that an Austrian developer named Toby Hoenisch would be the alleged attacker of one of the largest thefts in Ethereum ever made. The finding got achieved by reporter Laura Shin with the assistance of other experts and a tool from the Chainalysis explorer that tracks private bitcoin operations made from Wasabi Wallet.

The report made by Laura Shin would highlight that the CoinJoin mixer implemented by Wasabi Wallet, the bitcoin wallet the attacker used to carry out the hack of The DAO, did not help keep his identity veiled.

This situation seems relevant because CoinJoin is a protocol that opens the door to the mixing of cryptocurrencies and boosts the privacy and anonymity of its users by keeping their identities safe, mostly from blockchain analysis tools.

The reporter’s investigation also unveiled that a secret tool from the blockchain explorer Chainalysis gained the possibility to identify the hacker’s activities in Wasabi Wallet, which places the execution of CoinJoinin uncertain fields and reveals the possible identity of the criminal.

The theft took place back in 2016 by attacking a central piece of financing that the venture capital fund The DAO had acquired. The hacker carried out its activities due to a network failure that repeatedly transferred ethers from the entity. The attacker then switched them to ETC, the Ethereum Classic token, and Bitcoin, whose value reaches more than $11 billion.

Chainalysis’ Efforts to Follow and Track Mixed Bitcoins

Laura Shin explained that a tool from Chainalysis followed the attacker’s operations and managed to reveal his identity. The report also highlights that the hacker migrated the currencies to a new inactive wallet until October. The criminal then intended to use ShapeShift to convert the funds into bitcoin.

ShapeShift did not take personally identifiable data, so the hacker’s true identity remained unveiled, even though all of his blockchain activities were apparent. Over the next two months, the hacker extracted at least 282 bitcoins, which ran parallel to at least $232,000 and got valued at more than $11 billion today.

The researcher also highlighted that ShapeShift then frequently obstructed her attempts to exchange because it detected the currencies as being from The DAO attacker.

The user could not keep carrying out exchange operations with digital currencies and left behind at least 3.4 million ETC.

The report considered that, based on a study led by Coinfirm, the alleged attacker had migrated at most minuscule 50 bitcoins to a Wasabi wallet; the reporter also mentioned that she used a feature to track operations for the first time.

This tracking is an exciting feature because Wasabi is a Bitcoin wallet that focuses on anonymizing activities like transactions through CoinJoin; its real goal is to set a complex procedure on the trail of these transactions.

By: Jenson Nuñez

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