The crypto markets are continuing to sink after a week of bad news following the Bithumb hack and Japan’s crypto exchange crackdown.
The crypto markets are continuing to take a tumble today, June 23, following slew of FUD-like news from the crypto sector in South Korea and Japan.
Market visualization from Coin360
Leading South Korean exchange Bithumb was hacked for $30 million, and Japan’s financial regulator FSA has apparently renewed their crackdown on cryptocurrency exchanges after sending out six more business improvement notices this week.
Bitcoin price chart. Source: Cointelegraph Bitcoin Price Index
Ethereum price chart. Source: Cointelegraph Ethereum Price Index
EOS’s price fall follows the controversy that arose after the mainnet launch when EOS block producers took it upon themselves to lock seven account associated with phishing scams, prompting questions about the coins decentralized system.
EOS is also one of the top traded coins on the hacked exchange Bithumb, which has since fallen from sixth to eleventh place of exchanges by trading volume on Coinmarketcap.
Total market cap is now around $255 billion, a number last seen on April 6.
Total market cap of all cryptocurrencies from Coinmarketcap
Customers have also received reassurance from Bithumb that it will refund all users affected by the $30 million hack.
Crypto enthusiast Whale Panda tweeted about the Mt. Gox news yesterday, alleging that its positivity has kept it out of the FUD-loving mainstream media:
MtGox news is positive #Bitcoin news so will not be featured by mainstream media. They only do the negative stuff.— WhalePanda (@WhalePanda) June 22, 2018