Impact of Binance Hack Expected to Be Uneven Across Digital Assets — Market Talk

The recent hack at Binance is expected to have an uneven impact across all digital assets, says XTB MENA's Hani Abuagla in a note. Binance Coin could remain under pressure given its direct connection to the ecosystem. Ethereum may be more volatile, though there are no indications that its network was compromised, Abuagla says. Smaller-cap cryptocurrencies could also be even more vulnerable, due to lower liquidity and a heavier reliance on speculative investors. "On the other hand, stablecoins could see increased demand from investors seeking to hold capital in assets with relatively stable value," Abuagla says. Bitcoin and Ethereum are both 0.3% higher, trading at $78,054.30 and $2,300.58, respectively.([email protected])