Ethereum News and Price Overview: Cryptocurrency Hedge Funds Are Shorting Ethereum. Friday, July 27
Important Ethereum News
Cryptocurrency Hedge Funds Are Shorting Ethereum
Despite ETH being the second top cryptocurrency after Bitcoin, and most of the current projects, dApps and tokens being built upon its smartcontracts and blockchain, big and significant cryptocurrency Hedge Funds are shorting their ethereum investments. According to Forbes these hedge funds and family offices believe Ethereum will continue to fall further in 2018, especially taking into the consideration that it has already fell almost 40% from its all time high in December last year.
Hidden Hand Capital from San Francisco reportedly handles $100 million worth of cryptocurrencies and ETH doesn't hold a strong position in their fund. New York-based Tetras Capital recently published a 41 page report where they explained their shortage in ether. Sunnarborg on the other hand, notices that Ethereum's concept, position and potential use cases are very interesting, however its not enough to make it a good investment. They believe that the developers will improve the situation in the future.
CoinShares chief strategy officer said: "We are nowhere near a bear market yet, [and] demand for Ethereum-based tokens and applications is largely speculative. In the absence of more Enterprise Ethereum Alliance announcements in 2018, I won't look to add more exposure."
MetaMask Taken Off From Chrome Web Store
A popular Ethereum and ERC-20 based tokens MetaMask has been taken off from official Chrome Web Store. On the blog post explaining the situations, MetaMask developers write: "Sometime during the morning of July 25th, 2018, one of our team members noticed that MetaMask was missing from the Chrome Web Store. This proved to be an interesting wake-up call for a majority of our team."
After typing MetaMask in the Store search panel, only few re-branded MetaMask forks and one lookalike was available for the users to download. The developers notice how potentially dangerous this sudden disappearance was, as it opened enormous possibilities for hackers and phishers who could have created fake "official" MetaMask and steal people's private keys.
Fortunately, the situation was quickly resolved. The team had been already preparing for the worst case scenarios, like for example further cryptocurrency application bans from Google. They thought they had to quickly prepare alternative way to access their wallet and rewrite the documentations. However, it turned out to be an error on the Store's side. "Thankfully, by approximately 12:40 PST the same day, we were back on the store. The reason given: the removal was done in error."
ETH/USD Price Chart, Friday July 27th:
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