Grandfather of crypto falls below the $8,000 level after consolidation
Bears finally took over the cryptomarket and pulled the price for BTC down.
Crypto assets go up
On Friday, digital coins went up, with Bitcoin making its way towards the psychologically crucial $4,000 level. Besides this, the CEO of Coinbase came up with support for Quadriga, the disgraced platform on Twitter.
Bitcoin, the most popular crypto asset managed to surge by up to 0.59% concluding the trading marathon at $3,973.10 on the Investing.com Index.
In general, digital coins went up to a market capitalization of $135 billion.
The number two crypto asset, Ethereum tacked on by 2% being worth $148.20. It occurred due to the fact that its Constantinople hard fork is anticipated to take place at the end of February. As for XRP, it rallied by up to 0.13% hitting $0.32146. Besides this, Litecoin showed $49.58, adding 1%.
As Coinbase CEO Brian Armstrong told, from his point of view Canadian platform Quadriga didn’t stage its downfall to have investors scammed, as folks have suggested.
Founded in 2013, QuadrigaCX happened to be one of the oldest crypto exchanges in the world. So, if they considered an exit scam, it should have been timed much better, Brian Armstrong pointed out on Tweeter.
However, as follows from an investigation by Coinbase, the last months of operations raised questions as for probable mismanagement at the company.
Quadriga is actually experiencing a number of lawsuits from folks attempting to secure missing funds right after CEO Gerald Cotten suddenly passed away in India in early December without providing the password for access to cold wallets.
The company only has access to its hot wallets, connected to the network. However, the crypto wallets have less than $1 million, which is not far from the C$180 million of crypto assets frozen in user accounts.
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