Cryptocurrency analysis company Santiment discussed two cryptocurrencies that it claimed were experiencing “FUD” intensity in its post.
According to the analytics company, fear is in the air and traders are talking about two cryptocurrencies: Bitcoin (BTC) and Bittensor (TAO).
According to analysts, Bittensor is experiencing FUD and has seen a loss in value due to the security vulnerability that led to the theft of a total of $8 million worth of TAO from cryptocurrency users' wallets.
On the other hand, for Bitcoin, a brief drop below $60,000 on its chart led traders to talk about worrying trends and sell their assets “before it is too late,” according to analysts.
The Bittensor blockchain was temporarily halted following an attack on several user wallets, causing a 15% drop in TAO prices.
Investigations into the attack, which is suspected to have been caused by a private key leak, are ongoing and Bittensor has been placed in “safe mode” to prevent further transactions until more information is obtained.
“We are investigating, and out of an abundance of caution, we recently halted on-chain transactions entirely until we learn more about the nature of this attack,” a Bittensor core team member wrote on the project's Discord channel.
*This is not investment advice.