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Latest News Bitcoin News Ethereum News

📰 News Wed, 09/11/2019 - 07:22

Chainlink Suspected of Being Pump-

and-Dump Scam by Analytics
We'd likeCompany AnChain.AI
to send you notifications for the latest news and updates.

Alex Dovbnya

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 After stellar gains in 2019, Chainlink is sitting at 20th place on
CMC with a market cap of $625 mln

Cover image via www.123rf.com

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Contents

A coordinated pump-and-dump scheme

The Chainlink team under pressure

We'd likeChainlink,
to send you
thenotifications for the
20th biggest coin latest news
by market cap, isand updates.
most
probably your textbook example of a pump-and-dump
scam. This revelation has been made Blockchain
analytics firm AnChain.AI.
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 👉 MUST READ
"Crypto Wizard" Arrested for Taking Part
in $16 Mln Cryptocurrency Scam

A coordinated pump-and-dump
scheme
As explained by U.Today, “pump-and-dump” is the
practice of artificially inflating the asset’s price to hook
the investors’ interest. Obviously, only pump organizers
and the inner circle are able to profit off such schemes
after dumping their bags on the herd of uninitiated
buyers.

After analyzing the trading of the LINK token from Apr. 1

till July 26, AnChain.AI has concluded that there is a
number of addresses that routinely trigger rounds of
pump-and-dumps. One can allegedly predict when
another price move takes place by keeping tabs on these
particular wallets.

Image by AnChain.AI
On June 29, LINK reached its current ATH of $4.36 on the
heels of its Coinbase listing. However, it turns out that a
We'd like to send you notifications for the latest news and updates.
small number of traders were responsible for this
enormous growth.

The market cap of Chainlink has dwarfed by more than

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$600 mln since June. At the time of writing, it is trading at
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 $1.78.

👉 MUST READ
Bitcoin Volatility Sinks to Its Four-Month
Low. Analysts Claim It's Calm Before the
Storm

The Chainlink team under pressure

According to SmartContract CEO Sergey Nazarov, there is
nothing that they can do about these manipulations
given that the market for their token exists apart from
Chainlink. Moreover, the company vehemently denies its
involvement in these pump-and-dump schemes. U.Today
has reached the Chainlink team and Nazarov himself for
comment.

Chainlink developers have also been accused of dumping

batches of 700,000 LINK on the open market. This selling
spree, which is supposed to ramp up the company’s
operations, conveniently came after the token hit its ATH.

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#Cryptocurrency Trading #Cryptocurrency Scam

About the author

Alex Dovbnya

We'd like to send you notifications for the latest news and updates.
Alex Dovbnya (aka AlexMorris) is a
cryptocurrency expert, trader and

🚀
journalist with an extensive experience of
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 burgeoning industry — from price analysis
to Blockchain disruption. Alex authored
more than 1,000 stories for U.Today,
CryptoComes and other fintech media
outlets. He’s particularly interested in
regulatory trends around the globe that are
shaping the future of digital assets.

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 Just Released Today
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📰 News Wed, 07/31/2019 - 08:50

ICON IISS Yellow Paper Update: New

Incentives and Penalties for ICONists

Denis Sinyavskiy

ICON Yellow Paper brings many changes to the system on the

path to true decentralization. Incentives and penalties have been
changed

Cover image via news.u.today

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ICON continues to move towards genuine

decentralization, so the IISS (ICON Incentives Scoring
System) Yellow Paper has been updated. The main
changes were network governance, as well as incentives.

One of the main tasks of any decentralized network is the

consistency of incentives among all participants, and
most importantly, the motivation not to harm the
network, as it was in the situation with EOS.

ICON
@helloiconworld

Decentralization and staking are rapidly approaching —

We are thrilled to share the version 2.0 of the IISS
Yellow Paper.

Learn more about the key changes on our blog today:

link.medium.com/g7rVFKn2zY#ICONSENSUS

We'd like to send you notifications for the latest news and updates.

ICON Introduces Key Updates to Yellow Paper (IISS 2.0)

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link.medium.com