Bitcoin and Ether Market Update: March 27, 2019

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Top ten cryptocurrencies are all in green for the 24-hour period with EOS and Cardano (ADA) being the top gainers.Total market cap increased by $1 billion since March 25 and now stands at $141.2 billion. At the time of writing bitcoin (BTC) is trading at $4,047, while ether (ETH) stays around $139 and XRP remains at $0.312.

BTC/USD

Bitcoin started the new week with a 1.7 percent drop to $3,970. The BTC/USD pair dropped below $4,000 on the Bitfinex daily chart for the first time since March 15, breaking the recent uptrend channel. This was the second consecutive day of losses for the most popular cryptocurrency as bulls were not able to break above the January high at $4,169.

On March 26, it managed to bounce back to $3,992 and in the early hours of March 27 is trading 1.4 percent higher, at $4,047.

Trading volumes slowly started to increase on Monday and peaked at $12 billion on March 26 compared to average value of about $9 billion during previous week.

Another month, another hack. On March 26, the Singapore-based cryptocurrency exchange DragonEx informed via Telegram that its platform suffered a hacking attack on March 24.

According to the official post, the amount of the lost crypto funds is still unknown, but some part of them were already tracked down to cryptocurrency wallets owned by three other exchanges –Bittrex, Huobi and Gate.io. Authorities in four countries – Estonia, Singapore, Thailand and Hong Kong were immediately informed about the incident and asked for assistance. DragonEx confirmed they will compensate users for all funds lost during the breach.

In the meantime, another trading platform, Coinbene is in maintenance mode in order to perform a wallet upgrade. As per the official notification from March 26, deposits and withdrawals are temporarily disabled, while trading is still possible. As no time for completion was mentioned and no more details were shared with the community, some of the users started to suspect a major breach.

The open-source anonymity network Tor is now accepting donations in cryptocurrencies. Users who want to support the “onion router” project can do it by choosing from among bitcoin, Bitcoin Cash (BCH), Dash, ether, Litecoin (LTC), Monero (XMR), Stellar (XLM) and few more cryptos mentioned on the official webpage.

Tor is using an overlay network technology to mask internet usage and user location and avoid network surveillance and fight authoritarian regimes.

ETH/USD

The Ethereum Project token is not performing well since March 16 when it last peaked at $144 and is on a constant downturn. It formed a red candle to $135 on March 25 and the move represented a drop of 2.1 percent.

ETH/USD pair is now looking at $130 as its next line of support as a drop below that level will be critical in the mid-term. Bulls will be hoping for push price above $140 and eventually go through the strong resistance zone between $144-$150.

The price of one of the most popular altcoins successfully bounced back from $135 and moved to $135.5 on March 26.  At the time of writing it is trading at $139.5 or 2.9 percent higher than yesterday.

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