Bitcoin, Ethereum, Dogecoin Mixed After Curve Finance Exploit Puts $100M Worth Of Crypto At Risk: Analyst Predicts King Crypto 'Will Be Top Of The Food Chain'
Portfolio Pulse from Mehab Qureshi
Major cryptocurrencies traded mixed following a security exploit at Curve Finance, putting $100M worth of cryptos at risk. The exploit involved multiple stable pools using Vyper versions 0.2.15, 0.2.16, and 0.3.0. The global crypto market capitalization stands at $1.19 trillion. Analyst Michael Van de Poppe suggests that Bitcoin dominance is approaching a turning point, potentially shifting the spotlight to altcoins. Veteran trader Peter Brandt believes that Bitcoin's correlation with other markets is negligible and that it will be top of the food chain.
July 31, 2023 | 2:28 am
News sentiment analysis
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NEGATIVE IMPACT
Dogecoin was mentioned in the context of the major cryptocurrencies trading mixed following the Curve Finance security exploit.
The news of the Curve Finance security exploit could negatively impact Dogecoin's price in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
Ethereum was mentioned in the context of the major cryptocurrencies trading mixed following the Curve Finance security exploit.
The news of the Curve Finance security exploit could negatively impact Ethereum's price in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Bitcoin's dominance is potentially nearing a turning point, which could shift the spotlight to altcoins. Veteran trader Peter Brandt believes that Bitcoin will be top of the food chain.
The news of Bitcoin's potential dominance turning point and the belief that it will be top of the food chain could positively impact its price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100