Cryptocurrency markets are doing much better the day after the digital asset exchange Binance lost roughly 7,000 BTC ($40 million). Immediately after the trading platform officially announced the multi-million dollar loss, the cryptoconomy shed billions but since then most digital assets have recovered and markets are doing surprisingly well.

Also read: $500K of BCH Shuffled in Record-Breaking Cashshuffle Transaction

Cryptos Recover After Dropping a Few Percentages Following the Binance Loss of $40M

May 7 was a crazy day for crypto enthusiasts when the exchange Binance announced the loss of $40 million worth of BTC. The company claims it was hacked and has been forced to suspend deposits and withdrawals for one week. After the official announcement began to virally spread across social media, bitcoin core (BTC) markets tumbled from Tuesday’s high of $5,900 per coin to a low of $5,751 according to Bitstamp’s data. Many other coins followed suit with BTC and shed some percentages on May 7 as well. For at…

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Source: https://news.bitcoin.com/markets-update-crypto-prices-show-strong-recovery-after-binance-loss/