• About
  • Contact
  • Privacy Policy
  • Terms and Conditions
Monday, June 30, 2025
The VR Soldier
  • Featured
  • News
  • Education
  • NEAR Protocol
  • Solana
  • Fantom
  • Yield Farming
  • Reviews
  • Press Releases
No Result
View All Result
  • Featured
  • News
  • Education
  • NEAR Protocol
  • Solana
  • Fantom
  • Yield Farming
  • Reviews
  • Press Releases
No Result
View All Result
The VR Soldier
No Result
View All Result

Crypto Prices Correct Today, BTC Dips Below $20k Following Binance Bridge Exploit, While ETH Holds Above $1,300

Kyle Portman by Kyle Portman
October 7, 2022
in News
Reading Time: 3 mins read
0
bitcoin ethereum binance news
Share on TwitterShare on Facebook

The valuation of the global cryptocurrency market dropped by $20 billion from $960 billion yesterday to $946 billion as of this Friday, signaling a slight bearish correction in the market. Bitcoin fell below $20k today as trading volume for both cryptocurrencies fell, while Ethereum maintained support above the $1,300 mark. Let’s examine recent news that has impacted the markets relating to Finance, Bitcoin, and Ethereum.

Key Notes:

  • The market value of cryptocurrencies is now $940 billion, down $20 billion from yesterday.
  • Hackers gained access to $100M in funds through the Binance Smart Chain Bridge attack, which BSC node validators swiftly froze.
  • The market is in extreme fear, but things are better than last week, according to the fear and greed index, which is at 23.
  • Today’s drop in trade volume is a bearish outlook for this weekend as Ethereum continues to retain support at $1,300.

Crypto Market News Update

The $100 million exploit for the BNB Smart Chain today is most likely to blame for the bearish momentum. Fortunately, Binance released a blockchain upgrade that essentially froze the hackers’ accounts, preventing them from withdrawing the money and causing more damage to BNB and the wider crypto community.

Changpeng Zhao, CEO of Binance, released additional information about the exploit, assuring traders and investors that their money is SAFU:

An exploit on a cross-chain bridge, BSC Token Hub, resulted in extra BNB. We have asked all validators to temporarily suspend BSC. The issue is contained now. Your funds are safe. We apologize for the inconvenience and will provide further updates accordingly.

— CZ 🔶 BNB (@cz_binance) October 6, 2022

The tweet explained that the exploit was caused by a flaw discovered on the BSC Token Hub cross-chain bridge, which led to the bridge releasing excess BNB and allowed the hackers to abuse the system and effectively siphon millions of dollars worth of bitcoin across the bridge.

Fortunately, the Binance staff could address the situation and freeze the hacker’s accounts before he could withdraw the funds. The funds have been frozen, which has prevented a catastrophe, despite a minor 4% fall in BNB’s price during the past 24 hours.

Bitcoin And Ethereum News Update

This Friday doesn’t have any significant Bitcoin news because everyone is focused on the Binance Smart Chain and BNB as the team deals with the fallout from the exploit.

The fear and greed index is at 23, indicating extreme fear, although not as terrible as last week at 20 points.

This Friday doesn’t bring any noteworthy Ethereum-related news. The market does well as ETH maintains support over the $1,300 mark. This Friday’s trading volume has decreased significantly, but that was to be expected given that the weekend is quickly approaching.

The price of ETHUSD may rise toward $1,400, but we probably won’t see any significant price movement until next week. Due to the limited trading volume, ETH may even sink to the upper $1,200 region before regaining its previous level of $1,300.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any projects.

Follow us on Twitter @thevrsoldier to stay updated with the latest Metaverse, NFT, A.I., Cybersecurity, Supercomputer, and Cryptocurrency news!

Image Source: igorigorevich/123RF // Image Effects by Colorcinch

Tags: bitcoinEthereum
Previous Post

Oryen (ORY) Offers A Magnificent 90% Fixed APY, Putting Bitcoin (BTC) And Ethereum (ETH) Staking Returns To Shame

Next Post

You Are Actually Missing Out On Uniglo.io (GLO), Stellar (XLM) And Fantom (FTM). What’s Happening?

Related Posts

Solana Hits $145 Again But Could This Time Be Different
News

Solana Hits $145 Again But Could This Time Be Different?

June 29, 2025
Featured

Binance Stands by XRP as Others Pull Back

June 29, 2025
Featured

XRP Jumps as Ripple Wins Legal Fight

June 28, 2025
Trump to Save Crypto: New Order May End Banking Discrimination
News

Trump to Save Crypto: New Order May End Banking Discrimination

June 25, 2025
Why Ethereum 6-Second Block Time Might Change Everything
News

Why Ethereum 6-Second Block Time Might Change Everything

June 24, 2025
Jupiter Token Crash: Why JUP Lost 80% and What Happens Next
News

Jupiter Token Crash: Why JUP Lost 80% and What Happens Next

June 24, 2025

Press Releases

Jupiter Token Crash: Why JUP Lost 80% and What Happens Next
News

Jupiter Token Crash: Why JUP Lost 80% and What Happens Next

by Alex Mercer
June 24, 2025

Introduction If you blinked, you might’ve missed Jupiter’s brief moment in the spotlight. The DAO behind the once-buzzy token has...

Read more
Bitcoin Price Survives Israel-Iran Tensions, Hack, and $200B Meltdown

Bitcoin Price Survives Israel-Iran Tensions, Hack, and $200B Meltdown

June 19, 2025
What you will get:  Simple steps to start trading cryptocurrencies like Bitcoin and Ethereum How to choose a reliable crypto exchange with low fees and strong security Key tips to read crypto price charts and manage trading risks How to stay updated with market-moving news and practice safely before investing Introduction Cryptocurrency trading has exploded in popularity as an easy way to earn online. With simple guidance you can start trading Bitcoin Ethereum and other altcoins using your phone or computer. This guide gives clear steps for beginners. What Is Crypto Trading and How Does It Work Crypto trading is buying and selling digital currencies like Bitcoin Ethereum Cardano or Solana to make a profit. You buy when prices are low and sell when they go higher. There are two main trading types: Spot trading: You own actual coins. Derivatives trading: You trade based on price movements without owning coins. Spot trading is perfect for beginners because it’s more straightforward and less risky. Step 1 Choose a Reliable Crypto Exchange Select a trusted crypto exchange. Popular beginner-friendly options: Binance: Low fees and many altcoins Coinbase: Easy for beginners with strong security Kraken: Great support and euro compatibility Bybit: Simple interface with spot and futures Look for: Easy sign up and verification Strong security (2FA, cold storage) Low trading fees and fast euro or fiat deposits Wide selection of coins and high volume Step 2 Learn Crypto Chart Reading Reading price charts will improve your crypto trading success. Key concepts: Trend lines: Overall up or down movements Support levels: Prices where value tends to bounce up Resistance levels: Prices where value tends to slow or reverse Start with basic charts like candlestick charts. Many platforms like Binance and Kraken offer built-in guides. Step 3 Manage Risk and Use Stop Losses Crypto prices are very volatile and can change fast. Protect your investment by: Investing only what you can afford to lose Using stop-loss orders to sell automatically at a set lower price Not risking more than 1–2% of your portfolio on any trade This risk management helps you stay in the game long term. Step 4 Stay Updated with Real-Time Crypto News Crypto markets respond instantly to news. Use reliable sources like Vr Soldier, CoinDesk, CoinTelegraph and The Block. Track: Bitcoin ETF decisions New coin listings on exchanges Regulatory changes Major partnerships and developments Following crypto news helps you predict good entry and exit points. Step 5 Use Demo Accounts to Practice Many exchanges like Binance and Bybit offer demo accounts or testnets. Practice trading with virtual money first. This helps you learn: How orders work Chart reading in real time Trading fees and order types Once you feel confident, move to small real trades. Final Simple Tips for New Crypto Traders Start with well-known coins like Bitcoin Ethereum Avoid chasing hype or FOMO (Fear Of Missing Out) Keep a basic trading journal or spreadsheet Learn from both wins and losses Crypto Trading Basics for Long Term Profit

Crypto Trading Basics for Long Term Profit

June 16, 2025
$3 Billion in Bitcoin Options Expire Today — Will BTC Crash or Bounce?

$3 Billion in Bitcoin Options Expire Today — Will BTC Crash or Bounce?

June 14, 2025
Trump vs Elon Musk: Bitcoin Dips as Tesla Crashes

Trump vs Elon Musk: Bitcoin Dips as Tesla Crashes

June 6, 2025
The VR Soldier

© 2024 The VR Soldier

Navigate Site

  • About
  • Contact
  • Privacy Policy
  • Terms and Conditions

Follow Us

No Result
View All Result
  • Featured
  • News
  • Education
  • NEAR Protocol
  • Solana
  • Fantom
  • Yield Farming
  • Reviews
  • Press Releases

© 2024 The VR Soldier