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Bitcoin fell to a two-week low on Tuesday and other digital tokens including Ethereum, Cardano and XRP all traded lower after the surprise resumption of the recent Colonial Pipeline cyberattack ransom raised concerns about Bitcoin’s supposed infallibility.
Bitcoin fell more than 10%, extending losses suffered on Monday amid broader concerns about potentially tighter U.S. monetary policy. Ethereum was down almost 12%, Cardano was down over 135, and XRP was down 11.79%. Dogecoin was down 12.72%.
Investigators’ success in locating and seizing nearly all of the Bitcoin ransom paid to the perpetrators of the Colonial Pipeline cyber attack last month has raised new concerns that Bitcoin is not as secure and untouchable as it is. believe it or as advertised.
Bitcoin has risen another 14% this year, but the token plunged from a peak of nearly $ 65,000 in mid-April, casting a veil on the cryptocurrency industry. The sale was exacerbated by a public rebuke from Tesla’s (TSLA) – Get Report billionaire and co-founder Elon Musk for the amount of power used by the servers behind the token.
Meanwhile, a Swiss-Danish group called Concordium AG is preparing to launch a new blockchain technology called Global Transaction Unit, or GTU, which it says will be able to meet, if not exceed, regulatory concerns and standards. .
Backed by one of the founders of Saxo Bank A / S and a director of Volvo Cars, both of whom have Zhejiang Geely Holding Group as their owners, the project will showcase its blockchain on Wednesday, which was developed with the Danish University of Aarhus. .
The main difference between GTUs and cryptocurrencies like Bitcoin will be its ability to provide the kind of transparency that regulators and members of the mainstream economy desire.
At the last check, Bitcoin was down 10.33% to $ 32,748, according to CoinDesk. Ethereum was down 11.91% to $ 2,479.60, Cardano was down 13.5% to $ 1.51 and XRP was down 11.73% to 85 cents. The Dogecoin meme token fell 12.55% to 32.43 cents.
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