Tag: cryptocurrency

Daily Crypto Review, July 28 – Bitcoin Spikes to $11,000; Over $300 Million Liquidated

Post author By Ilija Rankovic
Post date 28 July, 2020
No Comments on Daily Crypto Review, July 28 – Bitcoin Spikes to $11,000; Over $300 Million Liquidated

The cryptocurrency market spent made yet another boom as Bitcoin passed the $11,000 benchmark. Bitcoin is currently trading for $11,024, which represents an increase of 7.7% on the day. Meanwhile, Ethereum lost 1.04% on the day, while XRP gained 2.85%.

Daily Crypto Sector Heat Map

When talking about top100 cryptocurrencies, Kava.io gained 14.29% on the day, making it the most prominent daily gainer. Divi (13.17%) and Band Protocol (12.84%) also did great. On the other hand, Ampleforth has lost 23.81%, making it the most prominent daily loser. It is followed by Flexacoin’s loss of 17.11% and Augur’s loss of 11.43%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s dominance level increased since we last reported, with its value currently at 64.33 %. This value represents a 2.78% difference to the upside when compared to yesterday’s value.

Daily Crypto Market Cap Chart

The cryptocurrency market capitalization skyrocketed and now confirmed its position above the $300 billion mark. Its current value is $320.99 billion, which represents an increase of $20.52 billion when compared to the value it had yesterday.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

It’s safe to say that the largest cryptocurrency by market capitalization had another amazing day as it broke a major benchmark of $11,000 and reaching a final price of $11,394 before cooling down. The moment Bitcoin broke $10,000, on-chain activity registered a great increase in exchange inflow, which ultimately led to this fast price increase. During the process, Bitcoin managed to liquidate over $300 million in sell orders.

BTC traders should look for a trade opportunity either with another move up (aggressive) or when the price cools down slightly and makes a top (safer).

BTC/USD 4-hour Chart

Technical factors:

Price is currently above its 50-period EMA and its 21-period EMA
Price is slightly below its top B.B.
RSI is in severely overbought territory (84.33)
Volume greatly increased

Key levels to the upside Key levels to the downside

1: $10,855 1: $10,505

2: $11,090 2: $10,015

3: $11,630 3: $9,870

Ethereum

Ethereum looks like it has found its top at $330 after rising in price for the past 6 days. The final move brought the second-largest cryptocurrency by market cap to the highs of $333 before cooling off a bit. Ethereum now seems like it will (if nothing major happens to Bitcoin) possibly head towards the nearest support level to test it.

Ethereum traders should look for a trade opportunity in Ethereum’s pullbacks and confirmations.

ETH/USD 4-hour Chart

Technical Factors:

Price is above the 50-period EMA and the 21-period EMA
Price is below the top B.B.
RSI elevated (64.32)
Extremely high volume

Key levels to the upside Key levels to the downside

1: $340 1: $302

2: $362 2: $289

3: $278

Ripple

The third-largest cryptocurrency by market cap had quite a stable day as it confirmed its path above $0.214. XRP then bounced up and tried to make a break above the $0.227. However, the move was unsuccessful due to the wall of sellers present. XRP will most likely continue to trade within a range, bound by $0.214 to the downside and $0.227 to the upside.

XRP traders can look for an opportunity within the range XRP is currently trading in.

XRP/USD 4-hour Chart

Technical factors:

XRP in a mid-term descending trend (though it broke the trend in the short-term)
Price above 21-period and the 50-period EMA
Price is below the top B.B.
RSI is elevated (61.27)
Average/slightly higher than average volume

Key levels to the upside Key levels to the downside

1: $0.227 1: $0.214

2: $0.235 2: $0.205

3: $0.245 3: $0.2

Tags bitcoin, BTC, Crypto, Crypto Trading, cryptocurrency, Daily Brief, ETH, Ethereum, Fundamental Analysis, Ripple, Technical Analysis, trading, XRP

Crypto Daily Topic

Why the Blockchain Hype Should End

Post author By Edith M.
Post date 27 July, 2020
No Comments on Why the Blockchain Hype Should End

In the last few years, blockchain technology has been marketed as a game-changing innovation that could change traditional payment and information-recording systems. Indeed, blockchain technology offers tremendous promise to become a key driver of the digital economy. Still, over-the-top marketing of its capabilities is killing it even before any of its solutions materialize. The best-known […]

The best-known example of blockchain technology in action is in cryptocurrency, particularly Bitcoin, which grabbed headlines for its rocketing prices and volatility. These price swings led to a bitcoin-buying frenzy and the proliferation of cryptocurrency scams, which resulted in the entire crypto-market losing almost 80% of its value in 2018.

In 2019, as the crypto-craze subsidized, blockchain technology entered into what Gartner Inc. calls the ‘trough of disillusionment,’ meaning the technology is struggling to live up to its hype. Most industrial blockchain concepts are stuck in the experimental stages and may not become a business revolution as anticipated. If the hype dies down and interest in the technology wanes over time, it could perhaps be the best thing to happen to blockchain technology, as it will force people to focus on the value proposition blockchain brings to the table.

Examining The hype cycle

The blockchain hype can be best described as a gimmick used by businesses looking to capture gullible investors. Although this is not to say blockchain lacks an inherent value, the technology’s oversold optimism is somewhat unwarranted.

As a recent advertisement survey showed, the term “blockchain” was one of the most overrated words. The survey suggests that many companies abused the word ‘blockchain’ to get free media attention and perhaps attract investors/clients. This is hardly a surprise as a year before the survey, a NASDAQ listed company – Longfin Corp – saw it’s shares soar a whopping 2,000% after acquiring a blockchain-empowered microfinance provider. Sadly, even companies unrelated to the technology world have boarded the blockchain bandwagon without examining the business value it offers to their industry. Such unstructured experimentation of blockchain solutions with a minimal evaluation of value at stake means that enterprises will not see a return on their investment.

According to Gartner’s hype cycle, blockchain is still a couple of years away from revolutionizing business ecosystems. This couldn’t be truer, considering that the technology is still immature with a nascent market that has not yet shown a clear recipe for success. In the meantime, there are gaps between blockchain opportunities, and it’s real-world use cases. These include:

i) Energy inefficiency

One of the biggest stumbling blocks facing blockchain solutions is the sheer amount of computational power required to run these solutions. Recording data on blockchain involves solving complex cryptographical challenges, which ends up consuming a lot of electric power. This is evident from Bitcoin mining, which has been known to be resource-draining in terms of electricity cost and hardware.

Besides the high energy demand, blockchain solutions still require ample storage to keep all the data. This is a huge challenge to small enterprises that cannot afford enough computational storage for their data.

ii) Speed and Efficiency

Blockchain technology is inherently slower than some of the existing infrastructures that can handle more transactions within a shorter time. A classic comparison to ascertain this claim is between Ethereum and Visa systems. Ethereum blockchain can handle about 15 transactions per second, while Visa processes approximately 45,000 transactions per second. This means that it is wiser for enterprises to hold on to the existing infrastructure than jumping on the blockchain bandwagon; otherwise, they’ll have to deal with slowed business processes.

iii) Interoperability

The rise of blockchain technology has inspired developers to develop various iterations of the same, in an attempt to design unique solutions that meet industry-specific needs. While this is a good thing by itself, it creates many networks that work in isolation. As such, lack of interoperability among various blockchain networks can force enterprises to operate independently, yet they belong in the same industry. For instance, a bank might be using one blockchain solution, while another microfinance institution uses a different solution. As a result, it is almost impossible for the two to efficiently collaborate, especially in transactions that require them to work together.

Key Blockchain Takeaways

The challenges mentioned above notwithstanding, there are several core insights about blockchain’s value that businesses need to understand.

The focus is on cost reduction

What’s forcing most businesses to experiment with blockchain solutions is that they fear missing out, primarily if they operate in a competitive industry. Such an approach obscures the real enterprise value of blockchain technology, which is to increase operational efficiencies by removing intermediaries and administrative efforts of record keeping. This is why the financial industry is more primed for blockchain solutions than any other industry, as it is built on trust between intermediaries.

The productivity paradox

By eliminating intermediaries and increasing operational efficiencies, there is a common misconception that blockchain solutions will equally increase productivity. This idea can be likened to the time when computing was introduced into the business world. Although it helped improve business operations, productivity statistics didn’t increase in equal measure. Given the dynamic nature of the technology world, it is rare for a solution to mature to optimal efficiency since there will always be newer and more promising technologies emerging within a short period.

Conclusion

There is only a handful of successful blockchain solutions in the market, and this has aided in killing the blockchain hype. As the dust settles down on the broken dreams and the disillusionment fades away, blockchain technology will be weighed based on its value rather than the abstract ideology of what it can offer. Nonetheless, it’s not all doom and gloom, since it is likely that blockchain technology may have arrived ahead of its time. Such was the case with Artificial Intelligence (AI) and machine learning algorithms developed in the 50s, but have come to find their use in the 21st century.

Tags cryptocurrency, Enterprise blockchain, Technology

Crypto Daily Topic

The Race for Africa’s Crypto Market

Post author By Edith M.
Post date 27 July, 2020
No Comments on The Race for Africa’s Crypto Market

Facebook’s digital currency, Libra, may have hit a wall, but at least it succeeded in bringing cryptocurrencies to the attention of entrepreneurs who work outside the digital asset market. This comes after Bitcoin had a rocky entry into the mainstream, where increased speculative investment led to a regulatory crackdown in 2018 on the back of various crypto scams.

As the rest of the world continues to grapple with stringent government policies stifling the growth of the crypto market, African governments have had a rather welcoming approach to cryptocurrencies. Although they have not explicitly endorsed digital currencies, their relaxed laws have created a regulatory sandbox for crypto projects to experiment with the fertile African market. It remains uncertain whether these governments will still be lenient to cryptocurrencies years to come. However, at the moment, entrepreneurs are working hard to build a new financial framework in the continent using cryptocurrency. These crypto projects have a more realistic and practical approach to solving some of the financial problems ailing Africa as outlined below:

i) Akoin

Akoin is a relatively new cryptocurrency that has managed to create enough buzz in the last two years of its existence. Formed by Senegalese-American rapper Akon, the Stellar-based crypto aims at becoming the primary payment solution in the Western and Eastern Africa. To achieve this, the rapper-cum-entrepreneur awarded an American engineering firm, KE International, a $6 billion contract to build a cryptocurrency city in Senegal.

The first phase of this city is expected to be completed by 2023, while the final phase will be done by 2029, which will deliver a whole city running on the Akoin cryptocurrency. All utility bills within the proposed city from electricity, gas, water to sewer, and waste will be paid using Akoin.

Similarly, the engineering firm is also managing the construction of a tech city in Western Kenya. The Akoin token will be used to pay for services and even pay workers in this city.

In each of these application cases, Akoin is banking its success in creating a new financial inclusion era. As such, the unbanked population in these jurisdictions will have access to a new form of the financial infrastructure that is more secure and affordable than the existing mobile payment networks.

ii) Binance’s payment app

Binance, the global exchange platform, recently launched a social payment app in Nigeria known as Bundle. The app is the brainchild of Yele Bademosi, a Nigerian national, who once worked as an executive in the exchange.

According to Binance’s press release, Bundle is designed to provide users across Africa with free means of transacting in cash and cryptocurrencies. Currently, the app is only available in Nigeria with support for its national currency, the Naira. However, there are plans to extend its market to 30 more countries by the end of 2020. In each of these countries, including Nigeria, users can use the app’s fiat on-ramp feature to buy and sell digital currencies such as Bitcoin, Ether, and Binance’s crypto – BNB.

What separates Bundle from traditional digital wallets is that users can send funds to anyone on their contact list, even if that particular individual doesn’t have the app yet. Coupling this feature with the app’s ability to support digital and fiat currency, users across Africa will have an efficient way of sending remittances and a hedge against hyperinflation of their local currencies.

iii) Wala

Wala is designed as the Binance Bundle app. But unlike the latter, which is yet to penetrate the market, Wala has had quite a smooth sailing in Africa until its recent collapse in early last year.

Essentially, the payment app was founded by Tricia Martinez, who, being a daughter of a Mexican immigrant, was no stranger to income disparity. Armed with this knowledge, Tricia started on a poverty alleviation mission in Uganda by providing small scale farmers with access to financial services. This marked Wala’s birth, a micropayment processor that allows users to buy goods and pay bills at almost zero transaction cost. Much of Wala’s success can be attributed to its ability to process micro-transactions, which was impossible using traditional payment processors. As the platform grew in dominance, it created a small-scale circular economy where users can pay school fees, buy airtime, and pay utility bills across ten different markets. For instance, South Africa users can pay their family’s electricity bill in Uganda using the crypto-powered app.

It’s not an easy fight

The race for the growing African crypto market is getting stiffer as entrepreneurs seek to establish themselves as continent’s crypto solutions providers. But there are significant challenges to overcome

Poor infrastructure

In most of the African regions where crypto projects are launched, there is a lack of supportive infrastructures to guarantee these projects sustainability. Poor infrastructure in this context entails unreliable internet access as well as poor telecommunications services. Wala payment app, in particular, collapsed almost a year ago due to poor internet connection in Uganda, as CEO Tricia Martinez explained in her blog post.

Lack of skilled developers

Deploying crypto solutions requires highly specialized skills and knowledge in blockchain technology. As the global demand for blockchain developers increases, the competition for top talent accelerates in equal measure. For a continent like Africa, where there is poor infrastructure, it becomes even harder to attract talented blockchain developers, which consequently slows down the development of crypto projects.

Lack of funding

In developed countries, blockchain startups have access to funding from a wide pool of venture capitalists. On the other hand, few venture capital firms are willing to invest in African innovative crypto projects. Moreover, most investors in the continent tend to invest in companies that have a history of profitability. Blockchain startups being new in the market lack proof of profitability, which then scares away investors.

Conclusion

Africa is primed to become a crypto-hub owing to low financial inclusion witnessed in most of its countries. This has captured both local and international entrepreneurs who seek to fill the gap between the low-income population and financial services. However, as entrepreneurs bet on Africa crypto adoption, they should prepare themselves to mitigate the problems slowing down the development of crypto solutions in the region.

Tags Blockchain 44, Crypto, cryptocurrencies, cryptocurrency, digital economy, Education

Crypto Market Analysis

Daily Crypto Review, July 24 – Bitcoin Above $10,000; Ethereum Passing $300

Post author By Ilija Rankovic
Post date 27 July, 2020
1 Comment on Daily Crypto Review, July 24 – Bitcoin Above $10,000; Ethereum Passing $300

The cryptocurrency market spent had quite a bullish weekend. Out of the major cryptocurrencies, Ethereum and Bitcoin broke the strongest barriers. Bitcoin is currently trading for $10,050, which represents an increase of 3.95% on the day. Meanwhile, Ethereum gained 6.42% on the day, while XRP gained 1.04%.

Daily Crypto Sector Heat Map

When talking about top100 cryptocurrencies, Elrond gained 22.75% on the day, making it the most prominent daily gainer. Status (10.69%) and Terra (9.44%) also did great. On the other hand, Synthetix Network has lost 10.39%, making it the most prominent daily loser. It is followed by Band Protocol’s loss of 6.95% and Aave’s loss of 6.76%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s dominance level decreased slightly since we last reported, with its value currently at 61.51%. This value represents a 0.78% difference to the downside when compared to Friday’s value.

Daily Crypto Market Cap Chart

The cryptocurrency market capitalization skyrocketed and broke the $300 billion mark. Its current value is $300.47 billion, which represents an increase of $13.24 billion when compared to the value it had on Friday.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

The largest cryptocurrency by market capitalization had an amazing weekend, which ended with it breaking the $10,000 mark. Bitcoin experienced a steady increase in price for six days now, slowly breaking each obstacle in its path. The final move, which broke $10,000, was a bit hectic as the wall of sellers kept the price down for quite a bit. Bitcoin is now held from going up by the ascending resistance level. However, the “battle” for $10,000 is not over yet, as Bitcoin did not make a strong confirmation move.

BTC traders should look for a trade opportunity after BTC decides whether it will move above or below $10,000.

BTC/USD 4-hour Chart

Technical factors:

Price is currently above its 50-period EMA and its 21-period EMA
Price is above its top B.B.
RSI is in the overbought territory (76.57)
Volume Increased

Key levels to the upside Key levels to the downside

1: $10,015 1: $9,870

2: $10,505 2: $9,735

3: $10,855 3: $9,580

Ethereum

Ethereum, just like Bitcoin, made some amazing gains as well as broke major resistance levels over the course of the weekend. The second-largest cryptocurrency by market cap spent the past five days rising sharply towards the upside due to its booming fundamentals. The weekend ended with Ethereum moving past $300 and pushing to $325, with the move still continuing. With the RSI being heavily overbought and volume slowly declining, traders can expect the move to end soon.

Ethereum traders should look for a trade opportunity in Ethereum’s pullbacks from the big move towards the upside.

ETH/USD 4-hour Chart

Technical Factors:

Price is above the 50-period EMA and the 21-period EMA
Price is above the top B.B.
RSI severely overbought (82.86)
Extremely high volume

Key levels to the upside Key levels to the downside

1: $340 1: $302

2: $362 2: $289

3: $278

Ripple

The third-largest cryptocurrency by market cap had a good weekend, though not quite as good as Bitcoin and Ethereum. XRP established its position above $0.214, which is a great mid-term indicator. While the initial bullish move got stopped by the $0.227 and XRP started moving towards the downside, the current position XRP is in is quite good.

XRP traders can look for an opportunity within the range XRP is currently trading in.

XRP/USD 4-hour Chart

Technical factors:

XRP in a mid-term descending trend (though it broke the trend in the short-term)
Price above 21-period and the 50-period EMA
Price is below the top B.B.
RSI is elevated (64.47)
Average/slightly higher than average volume

Key levels to the upside Key levels to the downside

1: $0.227 1: $0.214

2: $0.235 2: $0.205

3: $0.245 3: $0.2

Tags bitcoin, BTC, Crypto, Crypto Trading, cryptocurrency, Daily Brief, ETH, Ethereum, Fundamental Analysis, Ripple, Technical Analysis, trading, XRP

Crypto Market Analysis

Daily Crypto Review, July 24 – US Banks Can Provide Crypto Custody Services; Bitcoin Approaches $10,000

Post author By Ilija Rankovic
Post date 24 July, 2020
1 Comment on Daily Crypto Review, July 24 – US Banks Can Provide Crypto Custody Services; Bitcoin Approaches $10,000

The cryptocurrency market spent yet another day shooting for the upside as Bitcoin tries to push itself closer towards $10,000. Bitcoin is currently trading for $9,358, which represents an increase of 0.42% on the day. Meanwhile, Ethereum gained 2.68% on the day, while XRP gained 1.2%.

Daily Crypto Sector Heat Map

When talking about top100 cryptocurrencies, Flexacoin gained 36.8% on the day, making it the most prominent daily gainer. DigiByte (12.57%) and Maker (8.03%) also did great. On the other hand, Ampleforth has lost 11.12%, making it the most prominent daily loser. It is followed by Aave’s loss of 8.86% and Reserve Rights’ loss of 7.63%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s dominance level decreased slightly since we last reported, with its value currently at 62.29%. This value represents a 0.12% difference to the downside when compared to yesterday’s value.

Daily Crypto Market Cap Chart

The cryptocurrency market capitalization increased when compared to when we last reported, with the market’s current value being $287.23 billion. This value represents an increase of $3.17 billion when compared to the value it had yesterday.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

The largest cryptocurrency by market capitalization had another great day after the Office of the Comptroller of the Currency made an announcement stating that US banks can now provide crypto custody services. Bitcoin’s price instantly skyrocketed and reached a high of $9,690, therefore passing the $9,580 resistance level. However, the fight to stay above $9,580 is still in play, and it is uncertain where Bitcoin will end up.

BTC traders should look for a trade opportunity after bitcoin establishes itself above or below $9,580.

BTC/USD 4-hour Chart

Technical factors:

Price is currently above its 50-period EMA and its 21-period EMA
Price is right below its top B.B.
RSI is in the overbought territory (72.10)
Volume Increased

Key levels to the upside Key levels to the downside

1: $9,580 1: $9,251

2: $9,735 2: $9,120

3: $9,870 3: $8,980

Ethereum

Ethereum made a move towards the upside as it followed the influx of crypto bulls entering the market. The second-largest cryptocurrency by market cap established its position above $260 and hurled towards $278. However, the bullish move could not quite reach above it, and Ethereum stayed below. However, there is a high possibility that Ethereum will make another move as the range between $278 and the ascending line is closing in.

Ethereum traders should look for a trade opportunity in searching for pullbacks or after range confirmations.

ETH/USD 4-hour Chart

Technical Factors:

Price is above the 50-period EMA and the 21-period EMA
Price is slightly below the top B.B.
RSI severely overbought (82.89)
Two-candle volume spike (the rest is average)

Key levels to the upside Key levels to the downside

1: $278 1: $260

2: $289 2: $251.4

3: $302 3: $240

Ripple

The third-largest cryptocurrency by market cap went past the $0.205 resistance (now support) level as bulls managed to win the fight for the level. However, XRP did not make a great leap towards the next resistance level, as Bitcoin and Ethereum did. Due to a low bullish presence, XRP failed to go past $0.21 and started moving towards the downside.

XRP traders can look for an opportunity after XRP confirms its position above $0.205, or as it falls below $0.205.

XRP/USD 4-hour Chart

Technical factors:

XRP in a mid-term descending trend (though it broke the trend in the short-term)
XRP lacks strong support levels below $0.178
Price above 21-period and the 50-period EMA
Price above the top B.B.
RSI is elevated (64.43)
Average/slightly higher than average Volume

Key levels to the upside Key levels to the downside

1: $0.214 1: $0.205

2: $0.227 2: $0.2

3: $0.19

Tags bitcoin, BTC, Crypto, Crypto Trading, cryptocurrency, Daily Brief, ETH, Ethereum, Fundamental Analysis, Ripple, Technical Analysis, trading, XRP

Crypto Market Analysis

Daily Crypto Review, July 23 – Ethereum’s Price Skyrockets As Developers Announce Ethereum 2.0 Test Specifications

Post author By Ilija Rankovic
Post date 23 July, 2020
No Comments on Daily Crypto Review, July 23 – Ethereum’s Price Skyrockets As Developers Announce Ethereum 2.0 Test Specifications

The cryptocurrency market spent yet another day shooting for the upside as Bitcoin tries to push itself closer towards $10,000. Bitcoin is currently trading for $9,358, which represents an increase of 1.72% on the day. Meanwhile, Ethereum gained a whopping 8.63% on the day, while XRP gained 2.88%.

Daily Crypto Sector Heat Map

When talking about top100 cryptocurrencies, Terra gained 15.84% on the day, making it the most prominent daily gainer. DigiByte (8.29%) and Flexacoin (8.14%) also did great. On the other hand, Ampleforth has lost 30.52%, making it the most prominent daily loser. It is followed by iExec RLC’s loss of 12.26% and Velas’ loss of 7.15%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s dominance level decreased slightly since we last reported, with its value currently at 62.41%. This value represents a 0.38% difference to the downside when compared to Friday’s value.

Daily Crypto Market Cap Chart

The cryptocurrency market capitalization increased when compared to when we last reported, with the market’s current value being $284.16 billion. This value represents an increase of $6.63 billion when compared to the value it had on yesterday.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

The largest cryptocurrency by market capitalization had another green day where it continued strides towards $9,580, and ultimately $10,000. While the price did reach the $9,580 resistance level, it could not pass it for the time being. However, there is still a chance Bitcoin will pas (and confirm) the $9,580 level in this run, even though the overbought RSI says otherwise.

BTC traders should look for a trade opportunity after bitcoin loses bull presence or after it passes $9,580.

BTC/USD 4-hour Chart

Technical factors:

Price is above its 50-period EMA and its 21-period EMA
Price at its top B.B.
RSI is in the overbought territory (74.80)
Increased Volume

Key levels to the upside Key levels to the downside

1: $9,580 1: $9,251

2: $9,735 2: $9,120

3: $9,870 3: $8,980

Ethereum

Ethereum skyrocketed today, gaining over 8% in the past 24 hours. The reason for the sudden increase in Volume (and price) is contributed to the growing DeFi field. This price is the highest Ethereum has been since February. Ethereum’s price rise got stopped by the ascending resistance level, but only for a short amount of time.

Ethereum traders should look for an opportunity in searching for pullbacks.

ETH/USD 4-hour Chart

Technical Factors:

Price is above the 50-period EMA and the 21-period EMA
Price above the top B.B.
RSI severely overbought (85.65)
One candle volume spike (rest is average)

Key levels to the upside Key levels to the downside

1: $278 1: $260

2: $289 2: $251.4

3: $302 3: $240

Ripple

The third-largest cryptocurrency by market cap did well as well, with its price finally passing the $0.2 threshold after being stuck below it for almost a month. The move is currently stuck at the $0.205 resistance level, as XRP didn’t decide whether it will consolidate above or below it.

XRP traders can look for an opportunity to trade after XRP “decides” if it will end up above or below $0.205.

XRP/USD 4-hour Chart

Technical factors:

XRP in a mid-term descending trend (though it broke the trend in the short-term)
XRP lacks strong support levels below $0.178
Price above 21-period and the 50-period EMA
Price above the top B.B.
RSI is elevated (65.78)
Average/slightly higher than average Volume

Key levels to the upside Key levels to the downside

1: $0.205 1: $0.2

2: $0.214 2: $0.19

3: $$0.227 3: $0.178

Tags bitcoin, BTC, Crypto, Crypto Trading, cryptocurrency, Daily Brief, ETH, Ethereum, Fundamental Analysis, Ripple, Technical Analysis, trading, XRP

Crypto Market Analysis

Daily Crypto Review, July 22 – Ethereum Passes Bitcoin and Becomes the Most Used Blockchain

Post author By Ilija Rankovic
Post date 22 July, 2020
No Comments on Daily Crypto Review, July 22 – Ethereum Passes Bitcoin and Becomes the Most Used Blockchain

The cryptocurrency market spent yet another day shooting for the upside as Bitcoin tries to push itself closer towards $10,000. Bitcoin is currently trading for $9,358, which represents an increase of 1.75% on the day. Meanwhile, Ethereum gained 3.06% on the day, while XRP gained 1.35%.

Daily Crypto Sector Heat Map

When talking about top100 cryptocurrencies, Augur gained 22.19% on the day, making it the most prominent daily gainer. Elrond (20.66%) and Blockstack (16%) also did great. On the other hand, Synthetix Network has lost 10.2%, making it the most prominent daily loser. It is followed by Reserve Rights’ loss of 6.28% and Algorand’s loss of 4.53%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s dominance level stayed at the same level since we last reported, with its value currently at 62.79%. This value represents a 0.04% difference to the downside when compared to Friday’s value.

Daily Crypto Market Cap Chart

The cryptocurrency market capitalization increased slightly when compared to when we last reported, with the market’s current value being $277.53 billion. This value represents an increase of $1.98 billion when compared to the value it had on yesterday.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

The largest cryptocurrency by market capitalization spent the day furthering yesterday’s strides towards $9,580, and ultimately $10,000. However, with volume fading as well as RSI stepping into the overbought territory, it is unlikely that Bitcoin will pass $9,580 without consolidation.

BTC traders should look for a trade opportunity after bitcoin loses bull presence or after it passes $9,580.

BTC/USD 4-hour Chart

Technical factors:

Price is above its 50-period EMA and its 21-period EMA
Price at its top B.B.
RSI is overextended (69.87)
Increased volume (descending)

Key levels to the upside Key levels to the downside

1: $9,580 1: $9,251

2: $9,735 2: $9,120

3: $9,870 3: $8,980

Ethereum

Ethereum continued on its path towards the upside in the past 24 hours. The second-largest cryptocurrency by market cap established its presence above $240 and pushed towards $251. However, the bullish presence is fading, and Ethereum is losing its momentum towards the upside.

Ethereum traders should look for an opportunity in searching for pullbacks.

ETH/USD 4-hour Chart

Technical Factors:

Price is above the 50-period EMA and the 21-period EMA
Price at the top B.B.
RSI elevated (68.02)
One candle volume spike (rest is average)

Key levels to the upside Key levels to the downside

1: $251.4 1: $240

2: $260 2: $228

3: $278 3: $225.4

Ripple

The third-largest cryptocurrency by market cap spent another day trading in a sideways manner. Its moves are bound by the $0.19 support level and (more often) $0.2 resistance level. XRP’s next move will most likely be determined by Bitcoin’s move (in any direction).

XRP traders can look for an opportunity to trade when the currency breaks $0.2 with increased Volume, or falls down below $0.19 with increased volume.

XRP/USD 4-hour Chart

Technical factors:

XRP in a mid-term descending trend (though it broke the trend in the short-term)
XRP lacks strong support levels below $0.178
Price above 21-period and the 50-period EMA
Price slightly above middle B.B. (20-period SMA)
RSI is neutral (53.58)
Average/slightly low Volume

Key levels to the upside Key levels to the downside

1: $0.2 1: $0.19

2: $0.205 2: $0.178

3: $0.214

Tags bitcoin, BTC, Crypto, Crypto Trading, cryptocurrency, Daily Brief, ETH, Ethereum, Fundamental Analysis, Ripple, Technical Analysis, trading, XRP

Crypto Market Analysis

Daily Crypto Review, July 21 – Mastercard Bullish On Bitcoin; Paxos To Become Paypal’s Bitcoin Custodian

Post author By Ilija Rankovic
Post date 21 July, 2020
No Comments on Daily Crypto Review, July 21 – Mastercard Bullish On Bitcoin; Paxos To Become Paypal’s Bitcoin Custodian

The cryptocurrency market spent the day trying to reach past its immediate resistance levels. Bitcoin is currently trading for $9,330, which represents an increase of 1.31% on the day. Meanwhile, Ethereum gained 1.26% on the day, while XRP gained 0.28%.

Daily Crypto Sector Heat Map

When talking about top100 cryptocurrencies, Augur gained 11.37% on the day, making it the most prominent daily gainer. Waves (11.36%) and DxChain Token (6.32%) also did great. On the other hand, Band Protocol has lost 19.85%, making it the most prominent daily loser. It is followed by Kava’s loss of 17.94% and iExec RLC’s loss of 16.09%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s dominance level increased slightly since we last reported, with its value currently at 62.83%. This value represents a 0.33% difference to the upside when compared to Friday’s value.

Daily Crypto Market Cap Chart

The cryptocurrency market capitalization increased slightly when compared to when we last reported, with the market’s current value being $275.58 billion. This value represents an increase of $2.89 billion when compared to the value it had on yesterday.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

The largest cryptocurrency by market capitalization spent the day contesting and poking the $9,251 resistance level until a large spike caused by an increase in bear presence brought its price to $9,380. Bitcoin passed $9,251 instantly, but could not reach $9,580. It is currently trying to stabilize at around $9,330.

BTC traders should look for a trade opportunity after bitcoin establishes its position.

BTC/USD 4-hour Chart

Technical factors:

Price is above its 50-period EMA and its 21-period EMA
Price above the top B.B.
RSI is overextended (69.86)
Increased volume

Key levels to the upside Key levels to the downside

1: $9,580 1: $9,251

2: $9,735 2: $9,120

3: $9,870 3: $8,980

Ethereum

Ethereum accompanied Bitcoin on its slow path towards the upside, but with its own little twist. While the upswings were much more explosive, the downswings were slower and less volatile. Ethereum reached past $240, which is where it is consolidating at the moment. The start of the explosive move got supported by the influx of buyers as well as the 21-period and 50-period moving averages, which were right at the bottom of the candle.

Ethereum traders should look for an opportunity when Ethereum confirms that it will stay above $240, or when it fails to do so.

ETH/USD 4-hour Chart

Technical Factors:

Price is above the 50-period EMA and the 21-period EMA
Price above the top B.B.
RSI elevated (67.20)
Slightly increased volume

Key levels to the upside Key levels to the downside

1: $240 1: $228

2: $251.4 2: $225.4

3: $260 3: $218

Ripple

The third-largest cryptocurrency by market cap, unlike Bitcoin and Ethereum, had a pretty slow day. XRP hovered around the $0.2 resistance level, but could not break it. The inability to break this level might come from the steady low volume XRP has. For the time being, XRP will continue to trade stuck in a range, bound by support level of $0.19 and resistance level of $0.2.

XRP traders can look for an opportunity to trade when the currency breaks $0.2 with increased volume, or falls down towards $0.19 with increased volume.

XRP/USD 4-hour Chart

Technical factors:

XRP in a mid-term descending trend (though it broke the trend in the short-term)
XRP lacks strong support levels below $0.178
Price above 21-period and the 50-period EMA
Price between the middle B.B. (20-period SMA) and the top B.B.
RSI is neutral (56.72)
Volume average

Key levels to the upside Key levels to the downside

1: $0.2 1: $0.19

2: $0.205 2: $0.178

3: $0.214

Tags bitcoin, BTC, Crypto, Crypto Trading, cryptocurrency, Daily Brief, ETH, Ethereum, Fundamental Analysis, Ripple, Technical Analysis, trading, XRP

Crypto Guides

‘Howey Test’ & The Role It Plays In The Token Ecosystem Of Blockchain?

Post author By Reddy Shyam Shankar
Post date 20 July, 2020
No Comments on ‘Howey Test’ & The Role It Plays In The Token Ecosystem Of Blockchain?

Introduction

Blockchain has led to the emergence of the token economy and, thus, new business models. With the help of the token in the business, both the customers and the owners benefit immensely. We have seen two types of token so far, utility and security tokens.

Utility tokens can be compared to loyalty points up to a certain extent while they are much more in the designated environment. Security tokens allow them to own any material/securities in a digital format in a fungible manner. Security tokens allow people to own things in a never before way.

There is a deciding factor that differentiates between security and utility tokens called the Howey test. Utility tokens don’t need any regulatory requirements since it is intended for use in its designated environment only while security tokens represent a real asset in the real-world digitally. Hence security tokens are subject to regulations.

What is the Howey Test?

Howey test is a monumental case handled by the Supreme court of the USA in 1946, which laid foundations to determine whether a particular arrangement involves an investment contract or not. The case was between the SEC and Howey. Two Florida based corporate put up real estate contracts for tracts of land with citrus groves. The defendants came up with an offer where the buyers who bought the land can lease the land back to the defendants who can grow citrus, market them, and make money.

Most of the buyers did lease the land back to the defendants as they weren’t aware of the agriculture. This was deemed illegal by the Securities Exchange Commission (SEC) and sued the defendants. The arrangement was considered illegal as the defendants broke the law by not filing a securities registration statement with SEC. The defendant’s leaseback was indeed determined as security, and this led to a landmark judgment. Hence this was determined as a test whether a particular transaction is an investment contract or not.

A particular investment can be deemed as an investment contract if it fulfills the below criteria.

It a monetary investment
The investment is made in a common enterprise.
There is an expectation of profit from the work of the promoters or third parties.

Even though the original Howey test used the term money later, it has been broadly classified into other investments and assets other than money. One more criterion is considered in determining a particular investment as security. If or if not, an investor has any control over the profits that come from the investor? If not, then the investment is generally considered as a security.

How the law applies to tokens generated based on blockchain technology?

SES guides that if a token clears all the criteria mentioned above, it can be deemed a security token. If it doesn’t follow, then it can be deemed as a utility token. Security tokens usually derive their value from the external, tradable asset. Hence security tokens are subjected to federal rules and regulations.

If the ICO doesn’t follow all the rules and regulations as prescribed, they are subjected to penalties. If followed, they offer a multitude of investment opportunities that were not possible before. If SEC determines any cryptocurrency as a security token, the founders are deemed to register the coin with SEC, and also, the investors should register their holdings with SEC.

Tags Blockchain, Blockchain Security, Crypto, cryptocurrency, cryptos, Education, enterprise, Howey Test, ICO, SEC, security, Security Exchange Commission

Crypto Market Analysis

Daily Crypto Review, July 20 – Twitter Hacker Possibly a BitMEX Trader; Hack Will End Up Being Good for Bitcoin?

Post author By Ilija Rankovic
Post date 20 July, 2020
No Comments on Daily Crypto Review, July 20 – Twitter Hacker Possibly a BitMEX Trader; Hack Will End Up Being Good for Bitcoin?

The cryptocurrency market spent the weekend recovering from the descending trend that brought Bitcoin to $9,000. Bitcoin is currently trading for $9,200, which represents an increase of 0.15% on the day. Meanwhile, Ethereum gained 1.51% on the day, while XRP lost 0.49%.

Daily Crypto Sector Heat Map

When talking about top100 cryptocurrencies, Band Protocol gained 39.23% on the day, making it by far the most prominent daily gainer. Terra (30.63%) and Swipe (28.00%) also did great. On the other hand, Flexacoin has lost 31.16%, making it the most prominent daily loser. It is followed by iExec RLC’s loss of 11.66% and Reserve Rights’ loss of 10.95%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s dominance level increased slightly since we last reported, with its value currently at 62.5%. This value represents a 0.33% difference to the downside when compared to Friday’s value.

Daily Crypto Market Cap Chart

The cryptocurrency market capitalization increased slightly when compared to when we last reported, with the market’s current value being $272.69 billion. This value represents an increase of $3 billion when compared to the value it had on Friday.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

The largest cryptocurrency by market capitalization spent the weekend slowly regaining its value after the drop to $9,000. The slow rise in price was stopped by an influx of buyers, which tried to bring the price above the $9,251 resistance level but failed to do so as the sheer volume was too low. Bitcoin is now consolidating at around the $9,200 level.

BTC traders should look for a trade opportunity in the range that is bound by the nearest support and resistance levels.

BTC/USD 4-hour Chart

Technical factors:

Price is above its 50-period EMA and its 21-period EMA
Price right below the top B.B.
RSI is neutral (53.87)
Lower than average volume

Key levels to the upside Key levels to the downside

1: $9,251 1: $9,120

2: $9,580 2: $8,980

3: $9,735 3: $8,820

Ethereum

While Ethereum accompanied Bitcoin on its slow path towards the upside, it did so with much lower volume and volatility. The most recent hours brought a sharp increase in price, which attempted to bring the price above $240, but the push was unsuccessful. Ethereum is now consolidating right below the $240 level.

Ethereum traders should look for an opportunity when Ethereum starts moving down, or when it reacts to the next support/resistance level.

ETH/USD 4-hour Chart

Technical Factors:

Price is above the 50-period EMA and the 21-period EMA
Price above the top B.B.
RSI elevated (63.03)
Average/slightly increased volume

Key levels to the upside Key levels to the downside

1: $240 1: $228

2: $251.4 2: $225.4

3: $260 3: $218

Ripple

The third-largest cryptocurrency by market cap moved along its range-bound upwards path towards $0.2. While the move got stopped at $0.2, XRP managed to gain some value over the course of the weekend. Volume remained stable throughout this slow increase, which is a great indicator.

XRP traders can look for an opportunity to trade when the currency breaks $0.2 with increased volume, or falls down towards $0.19 towards increased volume.

XRP/USD 4-hour Chart

Technical factors:

XRP in a mid-term descending trend (though it broke the trend in the short-term)
XRP lacks strong support levels below $0.178
Price above 21-period and the 50-period EMA
Price between the middle B.B. (20-period SMA) and the top B.B.
RSI is neutral (55.26)
Volume average

Key levels to the upside Key levels to the downside

1: $0.2 1: $0.19

2: $0.205 2: $0.178

3: $0.214

Tags bitcoin, BTC, Crypto, Crypto Trading, cryptocurrency, Daily Brief, ETH, Ethereum, Fundamental Analysis, Ripple, Technical Analysis, trading, XRP

Crypto Guides

‘Blockchain Coding’ – The Different Programming Languages That Are Being Used!

Post author By Reddy Shyam Shankar
Post date 17 July, 2020
No Comments on ‘Blockchain Coding’ – The Different Programming Languages That Are Being Used!

Introduction

In the nineties, when the internet was evolving, it sometimes used to take hours to connect to the internet. When the visionaries were betting on the internet that it would change the world, most of them wondered if it has that transforming effect? Now we cannot imagine a world without the internet. The same is going to happen with blockchain. Blockchain is going to create the internet of value. To build that work, we need developers in blockchain, and different languages used in developing the technology.

To understand which languages should be used in blockchain coding, let us see the challenges the tech offer to understand and select a language for development.

✰ Security

If we talk about public blockchains, the code is open source and public. Anyone can check the code, find vulnerabilities, and take away millions in dollars. Hence the development is very slow in general.

✰ Resource Management

Networks grow in size pretty soon, and hence the maintenance should be appropriate. Local queries should be addressed at the earliest.

✰ Performance

The language chosen should be extremely versatile. Blockchain has specific tasks that can be checked parallelly while some cannot. Signature verification can be checked parallelly, while transaction verification should be done to avoid double-spending.

✰ Deterministic behavior

A smart contract should behave in the same way, no matter in which machine you run them. In the same way, a transaction should hold good at any point in time. Hence, they should operate in Isolation. Hence, we should isolate smart contracts and transactions from non-deterministic elements.

Let us see the languages which overcome these challenges below:

C++

The bitcoin blockchain is written in C++. C++ has been developed as an extension of the C language, and it is an object-oriented language (OOP). OOP means, when an object is created with functions and data, it can be called upon for use any number of times further, thus reducing coding time. Let see the features of C++ below, which aides in blockchain coding.

Memory

C++ takes complete control over CPU and memory usage. We have seen that blockchain requires effective resource management and the platform itself to integrate with lots of untrusted endpoints still giving quick service.

Threading

A thread is a set of instructions that can be executed simultaneously. C++ not only supports multithreading but also optimizes single-thread performance. As we discussed before, blockchain needs both parallel and non-parallel tasks to be performed; hence threading functionality helps in this requirement.

Move Semantics

Move Semantics helps in getting copies of particular data only when required. This reduces data redundancy and boosts performance.

Code Isolation

Code isolation is possible in C++ due to its usage of classes. The language itself is so mature that it is frequently updated, which helps use the latest features.

Solidity

The most common language used in Ethereum to write smart contracts is Solidity. Anyone interested in developing DAPPs or get into the ICO games, Solidity, is a must learn. Most of the Ethereum founders contributed to the development of Solidity. Solidity is a slimmed-down language explicitly designed to develop smart contracts with a syntax very similar to Javascript.

Python and Javascript are used as well in blockchain coding as they have the required properties as well. Go Lang, developed by Google, is used as well due to its faster speeds. The need for blockchain developers is very high, and going forward will only increase. Hence, for programmers, if they can learn what blockchain is, they have a high tide to ride and make their name in the blockchain world.

Tags Blockchain, C++, Crypto, Crypto Guides, cryptocurrencies, cryptocurrency, cryptocurrency burning, Deterministic behavior, Education, Go Lang, Javascript, security, solidity

Cryptocurrencies

Cryptonator Wallet Review

Post author By Edith M.
Post date 17 July, 2020
No Comments on Cryptonator Wallet Review

Choosing the right digital wallet is one of the most critical things for any cryptocurrency user. This is mainly because the security of your funds will be entirely the wallet. Cryptonator is among the best options in the market, capable of delivering top-notch results. It is a multi-coin wallet that has been in existence since 2014. The digital wallet is quite easy to use and supports a myriad of currencies, including Litecoin, Ethereum, and Bitcoin. What’s more, it is designed to operate without ID verification to ensure you get a high privacy level.

Nonetheless, is it right for you? What else does it offer? Buckle up as this review provides you with detailed insight into everything you need to know about Cryptonator. You will get to know the good and the bad side of it as well as how it compares to the other wallets in the market.

Key Features-

Multi-currency: One of the best things about Cryptonator is that it supports a good number of fiat currencies including Euro (EUR), United States Dollar (USD), Russian Ruble (RUB), and Ukrainian Hryvnia (UAH).

OS compatibility: Cryptonator is compatible with several operating systems, including Windows, Android, iOS, OSX, Chrome, Firefox, and OSX.

Multi-languages: Cryptonator supports five languages. They include French, German, Spanish, Russian, and English.

Two-factor-authentication (2FA) – The crypto wallet is specially designed to send a One Time Password (OTP) in the form of a code. The code is sent to the user’s registered mobile number. They are required to enter the password to be granted access.

SSL connection– All transactions at Cryptonator are protected with a secure HTTPS security protocol or SSL connection. The sophisticated technology integrated into the connection ensures users send and receive crypto coins with the highest form of encryption.

Built-in-exchange platforms– With Cryptonator, you don’t have to visit a bureau to exchange cryptocurrencies. The wallet features an always on-your-service exchange platform that allows users to change currencies within the website.

Full control over private keys: In case of an online attack, hackers are capable of gaining access to the user’s private keys. For this reason, Cryptonator provides users with full control of their private keys. They can export and store them in the best place they see fit.

Hot wallet: The best thing about hot wallets is that they can be accessed at any time as long as there is an internet connection.

How Safe is Cryptonator?

The biggest concern for the majority of crypto users is safety. Cryptonator understands this and integrates quite a good number of security features that guarantee optimum security. Among some of their top features include a two-factor-authentication security protocol that involves sending a one-time 6-digit code to a user’s registered number to be allowed access to their accounts.

Unlike the majority of cryptocurrency wallets, Cryptonator provides users with full access to their private keys. They can save them in a location they see fit. Additionally, the crypto wallet is designed with a built-in exchange. This allows users to swap different cryptocurrencies. Further, users are not required to pay any fee. All they have to do is access the different exchange services offered and by the platform and choose their ideal swap.

How to Get Started

Step 1: Visit the official website at https://www.cryptonator.com/ and tap on the signup button.

You will be automatically redirected to the “Open New Account” page.

Step 2: Create a personal account

Here, you will be given two options. You can either choose to create a merchant account or a personal account. Select the option that suits you best.

Step 3: Set a password

Regardless of the type you choose, you will be required to create a strong password for your account. Ensure you create a strong password combination with numbers, characters, lower and uppercase letters, as well as numbers.

Step 4: Create an account

After filling all the details in the required sections, you will be required to click on the “create an account” tab.

Step 5: Verify your email

After creating an account, you will be required to go to your registered email and verify to activate your account.

Step 6: Ensure that all the coins are turned on

Click on the setup guide section and check whether all your desired types of currencies are activated. Turn on only the ones you plan to use.

Step 7: Create new addresses for every coin

After activating your desired address, you will be required to create a new address for every coin that you have activated. You can create as many as ten addresses for every wallet in your Bitcoin account.

Step 8: Activate your two-step verification

Here, you will be required to choose from Telegram, text message, Messenger, or Google Authenticator. Nonetheless, the best option is Google Authenticator. If you opt for this option, download it from Playstore or iTunes and install it on your device.

Open the Cryptonator website and use the app to scan the QR code to generate a code. Enter the code and click “send.”

Once the two-step verification security feature is activated, the system will automatically create a secret key to be used with your account. The key is meant to work as a backup in case your device is damaged or lost. For this reason, it is recommended to create several copies and store them safely.

Step 9: Confirm your backup

You will be required to confirm that you have successfully backed up your secret key by clicking on, “I backed up my secret key, close the window.”

How to Transfer Coins to Cryptonator

After creating your account, you will need to add cryptocurrencies to your wallet to perform transactions. The best way to add funds to your account is to transfer coins from another account to your wallet. Here is how to go about it:

Step 1: Click on your account name to display the address

You can either utilize the “Actions” button next to your account name to show your addresses or click on the account name to get the details.

Step 2: Send funds from another wallet to your address.

It should automatically reflect on your Cryptonator account. Save the sender’s address in case you might want to use it again.

Apart from the above method, you can exchange Fiat currencies directly from your bank account using wire transfer. The crypto wallet has a built-in exchange feature that supports four fiat currencies that allow users to swap a wide range of cryptocurrencies conveniently on their wallets.

How to Send or Receive Coins on Your Account

Sending coins from your Cryptonator account is easy. All you need to do is click on the “send” button located on the left side of the wallet’s interface. Copy the address you want to send to and select the number of coins. The wallet will automatically populate the “Gross Amount” and “Transaction Fee” that you will be required to pay.

The next step would be to figure out how to receive payments on your Cryptonator wallet. This process is quite easy. Click on the “balance” section and select the number of coins you want to receive. Click on “show my Bitcoin wallet address” to view the address and copy it. Share it with the sender to use it while sending funds to your wallet.

Cryptonator Vs. Other Wallets- How Does it Compare?

To find out whether Cryptonator is your ideal cryptocurrency wallet, you need to compare some of its top features against other popular options in the market.

eToro vs. Cryptonator wallet

First of all, both these wallets are quite amazing in terms of service delivery. However, there are a few differences between the two. As compared to Cryptonator, eToro is fully regulated by FCA (UK) and CySec (Cyprus) licensing companies – which are some of the best and most trustworthy regulatory agencies in the market. Further, it also offers an intuitive design that is quite easy to use. Unfortunately, this cannot be said about Cryptonator.

Coinbase vs. Cryptonator

There is no doubt that when it comes to social trading platforms, Coinbase is at the top of the league. It operates in compliance with FCA and CySEC licensing companies and offers a much higher level of security. Coinbase integrates more advanced features such as multi-signature keys as compared to Cryptonator that only uses 2FA.

Pros and Cons of Cryptonator

Pros

Multi-currency wallet
Users don’t need an identity verification
It works as a hot wallet
Supports fiat currencies

Cons

The wallet is unregulated
Does not offer leveraged trading

Final thoughts

Generally, Cryptonator is a secure web wallet with a user-friendly interface that integrates quite a wide range of security features. It is ideal for users looking for a cryptocurrency platform with a two-factor authentication feature, an automatic exchange platform, and supports an array of coins. It provides some of the best profitable conditions to work with and combines multiple custom features. Try it out, and there is no doubt you will enjoy using the hot wallet.

Tags bitcoin, Crypto, cryptocurrencies, cryptocurrency, Education, Wallet

Blockchain and DLT Crypto Daily Topic

Why Asia Pacific region is on a path to becoming a Blockchain Hub

Post author By Edith M.
Post date 17 July, 2020
No Comments on Why Asia Pacific region is on a path to becoming a Blockchain Hub

Every revolutionary technology in the history of mankind goes through four distinct stages before achieving widespread penetration. Looking at blockchain through the lens of technological development, the technology can be said to be at its early adoption stage – more than ten years after its invention. That is to say, blockchain has begun taking root, and it’s set to spread exponentially though it’s still far from full adoption.

The global blockchain market is expected to grow from $3.0 billion in 2020 to $39.7 billion, at a Compound Annual Growth Rate (CAGR) of 67.3%, in the next five years. While innovations in and around blockchain have been largely concentrated in the U.S and Europe, the application of the technology is quickly spreading over the Asia Pacific (APAC) region. In fact, the blockchain market in this region alone is predicted to grow to a whopping $16 billion by 2024, which represents an 87% CAGR during the forecast period. As a result, many industry experts believe the region is quickly becoming a blockchain hub that will perhaps take over the global economy sooner than expected. This accelerated growth in blockchain can be attributed to the following factors:

Favorable regulatory environment

Governments in the APAC region are generally blockchain-friendly with some, for example, China, explicitly advocating for the use of blockchain technology in driving economic development. Recently, the Beijing government released to the public a blockchain development plan, whose aim is to promote the growth and utilize the technology in government services and across various sectors of the economy. This comes barely a year after Xi Jinping, China’s president, gave a speech saying that the country needs to “seize the opportunities” presented by blockchain, in what appeared to be the first instance in which a significant world leader backs the technology.

In Thailand, the government is proactively supporting the use of cryptocurrencies and blockchain by licensing exchanges and ICOs. Moreover, clear guidelines have stipulated to regulate blockchain companies in the country, which has consequently attracted foreign blockchain businesses. On its part, the government of Thailand, in partnership with a private venture firm, is working on its own central bank digital currency that will be made public as soon as it’s feasibility is ascertained.

Singapore, the financial hub of Southeast Asia, introduced a regulatory sandbox that allows businesses to experiment with blockchain solutions while safeguarding them from the potential risks and failures of integrating blockchain. The national government of Singapore has also partnered with a consortium of banks and tech companies to explore the use of blockchain for payments with the ultimate goal of digitizing the Singapore dollar. Other governments that have shown interest in blockchain include South Korea, Hong Kong, Australia, and Japan. With their simultaneous investment into the technology, the APAC governments encourage the use and development of blockchain in private and public sectors, which increases its adoption.

Large consumer market

Asia Pacific region is widely known for its enthusiasm for cutting-edge technology, as evident from the likes of Japan and Singapore. The same can be said about China that is on a race to control the global economy hence its heavy reliance on technology. Moreover, the entire APAC region is largely made of a middle class who are tech-savvy. According to recent data, the middle class in this region has been on the rise and is even much higher compared to Europe, North America, Central, and South America, as well as the Middle East.

The combination of these factors creates an ideal consumer market that is willing to invest in, or rather experiment with blockchain. As such, in the four stages of the technology life cycle, it can be said that the larger APAC population is primed to be the early adopters of blockchain technology, with the rest of the world expected to fall in the early and late majority adoption stages.

Additionally, the region’s interest in the wider crypto ecosystem is evident from its firm grip on digital asset trading. Fuelled by the young and the tech curious population, Asia-based exchanges account for about 40% of all trading volume, which is the highest from a single region. Even in mainland China where the government banned domestic cryptocurrency exchanges, crypto traders have resorted to Hong Kong, Japan, and Singapore-based exchanges.

Blockchain Job boom

A blend of blockchain-friendly laws and a ready market in the APAC region has created a fertile ground for blockchain start-ups and businesses to thrive. As a result, the region has experienced a rapid increase in blockchain-related job openings and an accompanying rise in those seeking blockchain-related positions. More so, as well-established companies looking to improve their operations by leveraging blockchain’s potential, it further increases the demand for blockchain-savvy professionals who will be tasked with integrating this new technology into an organization’s operations.

Currently, the fact that the demand for skilled blockchain professionals is higher than the supply has delayed the success of several crypto projects in the region. For the few that have succeeded in launching and jumping from the innovation stage, they have been forced to draw talent from a wider professional background to enable the pilot projects to mature into fully-fledged businesses.

Industry hotspots

The Asia Pacific region is home to some of the world’s largest industries, thanks to its relatively stable economy. These industries are therefore expected to be among the first to fully integrate blockchain solutions and lead innovations in the same field. For instance, in China, where the economy is highly fragmented, the supply chain industry can leverage blockchain technology to decrease bureaucracy and enhance transparency in addition to maintaining accurate transaction records.

In the banking, financial services, and insurance (BFS) sector, blockchain can support a wide range of applications from cross-border payments and wallets to digital identification systems. This can especially be helpful to the many individuals across APAC who are working outside their home country and are looking for efficient and affordable means to send money back home.

As is the case with any part of the world, APAC is also actively experimenting with blockchain solutions for the healthcare industry. Usually, this industry is segmented into clinical data exchange, interoperability, supply chain management, and bills settlement. So far, the supply chain management segment and data exchange are set to benefit first from the integration of blockchain as more solutions are being developed for other segments.

Conclusion

For quite some time now, the APAC region has been a trendsetter in the digital innovation field. Once more, the region is positioned to play a pioneering role in the imminent age of blockchain, thanks to its vast and especially keen consumer market. Also, endorsements from the national governments and the positive job trends centered around blockchain technology have only catalyzed the adoption of this technology by businesses as well as the general public. With that in mind, if indeed blockchain is on the cusp of widespread adoption, then the Asia Pacific region is on the vanguard.

Tags Asia Pacific, Blockchain, Crypto, cryptocurrencies, cryptocurrency

Crypto Market Analysis

Daily Crypto Review, July 17 – People Call For a Bitcoin Ban After the Twitter Hack; What Will Actually Happen?

Post author By Ilija Rankovic
Post date 17 July, 2020
No Comments on Daily Crypto Review, July 17 – People Call For a Bitcoin Ban After the Twitter Hack; What Will Actually Happen?

The cryptocurrency market spent most of its day recovering from the move that brought Bitcoin to $9,000. Bitcoin is currently trading for $9,119, which represents a decrease of 0.85% on the day. Meanwhile, Ethereum lost 1.88% on the day, while XRP lost 1.37%.

Daily Crypto Sector Heat Map

When talking about top100 cryptocurrencies, Ampleforth gained 28.69% on the day, making it by far the most prominent daily gainer. Algorand (24.57%) and Aurora (16.45%) also did great. On the other hand, Divi has lost 8.28%, making it the most prominent daily loser. It is followed by Nexo’s loss of 7.12% and Elrond’s loss of 6.55%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s dominance level increased slightly since we last reported, with its value currently at 62.83%. This value represents a 0.11% difference to the upside when compared to yesterday’s value.

Daily Crypto Market Cap Chart

The cryptocurrency market capitalization decreased slightly when compared to when we last reported, with the market’s current value being $269.69 billion. This value represents a decrease of $2.84 billion when compared to the value it had yesterday.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

The largest cryptocurrency by market capitalization started the day quite rough, with its price dropping to $9,000 as bearish influence and volume increased. However, the price quickly retraced back above the $9,120 level, where it is currently consolidating. However, Bitcoin is approaching the descending trend line, which fell under during its drop to $9,000, which may cause the price to move once again.

BTC traders should look for a trade opportunity when Bitcoin reacts to the descending trend line.

BTC/USD 4-hour Chart

Technical factors:

Price is below its 50-period EMA and its 21-period EMA
Price right below the middle B.B. (20-period SMA)
RSI neutral/low (40.42)
Average volume (came back from increased)

Key levels to the upside Key levels to the downside

1: $9,251 1: $9,120

2: $9,580 2: $8,980

3: $9,735 3: $8,820

Ethereum

Ethereum started the day by being rejected from the $240 level, therefore triggering a fall towards the $228 level. The second-largest cryptocurrency by market capitalization managed to stop its price drop at $229 and slowly start to recover and consolidate. While the price is on a slow path towards the upside, the ultimate short-term direction of Ethereum is unknown.

Ethereum traders should look for an opportunity when Ethereum approaches the $240 level.

ETH/USD 4-hour Chart

Technical Factors:

Price below the 50-period EMA and the 21-period EMA
Price below the middle B.B. (20-period SMA)
RSI neutral (40.36)
Average volume (back from greatly increased)

Key levels to the upside Key levels to the downside

1: $240 1: $228

2: $251.4 2: $225.4

3: $260 3: $218

Ripple

The third-largest cryptocurrency by market cap was no exception to how the price action played out. The day started with a sharp price drop, which brought the price below $0.19. However, XRP quickly recovered and got on a slow upward trend, which may be stopped by the moving averages above it. If, however, XRP manages to pass them, the $0.2 resistance level will still pose a big problem.

XRP traders can look for an opportunity to trade when the volume increases, and the trend becomes clear enough, as the low volume and volatility are certainly not ideal for trading at the moment.

XRP/USD 4-hour Chart

Technical factors:

XRP in a mid-term descending trend (though it broke the trend in the short-term)
XRP lacks strong support levels below $0.178
Price below 21-period and the 50-period EMA
Price right under the middle B.B. (20-period SMA)
RSI is neutral (43.89)
Volume lower than average

Key levels to the upside Key levels to the downside

1: $0.2 1: $0.19

2: $0.205 2: $0.178

3: $0.214

Tags bitcoin, BTC, Crypto, Crypto Trading, cryptocurrency, Daily Brief, ETH, Ethereum, Fundamental Analysis, Ripple, Technical Analysis, trading, XRP

Crypto Guides

Understanding The Concept Of Tokenomics

Post author By Reddy Shyam Shankar
Post date 16 July, 2020
No Comments on Understanding The Concept Of Tokenomics

Introduction

In our previous articles, we have seen a lot about tokens, utility tokens versus security tokens, and how the tokenization has generated different blockchain, business models. As a quick recap, the token represents something in the crypto universe in its designated environment. A token has many roles, features, and purposes of fulfilling in its intended space.

What is Tokenomics?

Tokenomics is formed with two words, token and economics. Tokenomics is the quality of the coin, which influences the people to buy them and thereby shape up the platform accordingly. Any factor which affects the token’s value can be considered to be part of tokenomics. Let us see some of the most important ones below:

🔰 Team

The team behind the project is the first and foremost factor that affects the token in every way possible. It is quite natural for any sensible investor to check the team behind the concept. For any ICO to be successful, the teams play an essential role in the concept of the token and what the token tends to achieve.

🔰 Token Allocation

Token allocation post the ICO is an essential factor as well. Allocation amongst the team members and advisors is essential. The percentage of total coins that the leadership team has retained, how they will be spending those tokens for the project, and the duration they will lock the tokens. People who believe in their project tend to lock the coins for the long term showing their belief in the project.

🔰 Publicity and Branding

The project and token should have appropriate publicity. People should have an idea about what it is, and the closer it is to solving a real-world problem amongst other factors, the interest grows. Hence, the business model is essential too. The community, i.e., people who are already invested, shouldn’t be ignored; as they try to nurture the project in their way, they should be rewarded appropriately. Hence, they act as the brand ambassadors of the project.

🔰 Legal Structure

There have been many scams involved in the ICO’s of the 2017-18 period; they have come under the radar of intense scrutiny. Thus, the project should be under the local government’s rules and regulations wherever it is being developed.

🔰 Types of Tokens

There are different types of tokens to consider apart from security vs. utility tokens we have seen so far. The other necessary type is Layer1 vs. Layer2.

Layer1 generally refers to the platform on which the token is built upon. For example, if you are developing a DAPP in the Ethereum platform, Ethereum is the layer1 platform Ehter works as Layer1 token. The token that you intend to develop and the platform that you develop over the foundation platform is Layer2 and Layer2, accordingly. Though there are widespread attempts to make the two layers independent of each other, no matter how independent they are, they will be affected in case of any hacks on Layer1.

🔰 Token Flow

Token flow is another essential factor that determines the token’s value. Token flow in the Layer1 is determined by how the coins are generated and how the users are incentivized to maintain the platform. Secondly, the developments in the platform to strengthen the network itself. How the tokens are coming and going from the platform, is the environment sustainable or not, are some of the factors involving the token flow.

What makes up a token value?

The coin’s intrinsic value. Well, we consider its intrinsic value to the current value all the time while investing in something. If the intrinsic value is less than the current value, it is mostly advisable to invest. It’s the same with tokens as well. The intrinsic value depends on its credibility and utility of the project.

The second one is obvious, which is nothing, but speculation of the potential investors based on its history. Supply and demand, of course, plays a role as the number of tokens is always capped. Hence if the demand increases than the supply, the value tends to increase naturally.

Tokenomics is pretty vast, and we have covered significant parts involved. This concept is gaining momentum and space slowly; thus, knowing the above concepts before you take a plunge in the crypto investments is very useful in the long run.

Tags Crypto, cryptocurrency, Economics, Education, Legal Structure, Marketing, Publicity and Branding, Token Flow, Tokenomics, Tokens

Crypto Market Analysis

Daily Crypto Review, July 16 – Bitcoin Giveaway Scam Hits Twitter: Jeff Bezos, Barack Obama, Kanye West And More Targeted

The cryptocurrency market had quite a slow day with sideways movements. Bitcoin is currently trading for $9,206, which represents a decrease of 0.59% on the day. Meanwhile, Ethereum lost 0.53% on the day, while XRP lost 0.95%.

Daily Crypto Sector Heat Map

When talking about top100 cryptocurrencies, Elrond gained 14.90% on the day, making it by far the most prominent daily gainer. Syntherix Network (12.31%) and iExec RLC (11.07%) also did great. On the other hand, Bytom has lost 8.57%, making it the most prominent daily loser. It is followed by Nervos Network’s loss of 8.39% and Divi’ loss of 8.38%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s dominance level decreased slightly since we last reported, with its value currently at 62.72%. This value represents a 0.28% difference to the downside when compared to yesterday’s value.

Daily Crypto Market Cap Chart

The cryptocurrency market capitalization didn’t change in valuation when compared to when we last reported, with the market’s current value being $272.53 billion. This value represents a decrease of $0.13 billion when compared to the value it had yesterday.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

The largest cryptocurrency by market capitalization had quite a slow day. Its price followed the descending resistance line throughout most of the day until it jumped slightly above it. However, the current move has insufficient strength to pass the $9,251 resistance level. On top of that, the upside is guarded by the 21 as well as 50-period moving averages.

BTC traders should look for a trade opportunity after the largest cryptocurrency passes $9,251, or fails to break it.

BTC/USD 4-hour Chart

Technical factors:

Price is below its 50-period EMA and its 21-period EMA
Price right below the middle B.B. (20-period SMA)
RSI neutral (47.59)
Average volume

Key levels to the upside Key levels to the downside

1: $9,251 1: $9,120

2: $9,580 2: $8,980

3: $9,735 3: $8,820

Ethereum

Ethereum also had a slow day, with its price dancing between $237.5 (where ETH seems to have found some form of support) and a $240 resistance level. The second-largest cryptocurrency by market capitalization might attempt to break $240 very soon, but such a move would need strong confirmation afterward to be completely valid.

Ethereum traders should look for an opportunity after the fight for $240 ends.

ETH/USD 4-hour Chart

Technical Factors:

Price below the 50-period EMA and the 21-period EMA
Price below the middle B.B. (20-period SMA)
RSI neutral (47.81)
Average volume

Key levels to the upside Key levels to the downside

1: $240 1: $228

2: $251.4 2: $225.4

3: $260 3: $218

Ripple

The third-largest cryptocurrency by market cap was trading sideways throughout the day, with its price being slightly below $0.2. The resistance level held up quite nicely, which brought XRP’s price down by a bit. However, even though it performed the worst out of the top3 cryptocurrencies in the past 24 hours, XRP’s price moved less than 1% in total.

XRP traders can look for an opportunity to trade when the volume increases, and the trend becomes clear enough, as the low volume and volatility are certainly not ideal for trading at the moment.

XRP/USD 4-hour Chart

Technical factors:

XRP in a mid-term descending trend (though it broke the trend in the short-term)
XRP lacks strong support levels below $0.178
Price above 21-period and below the 50-period EMA
Price right under the middle B.B. (20-period SMA)
RSI is neutral (47.11)
Volume lower than average

Key levels to the upside Key levels to the downside

1: $0.205 1: $0.2

2: $0.214 2: $0.19

3: $0.227 3:$0.178

Tags bitcoin, BTC, Crypto, Crypto Trading, cryptocurrency, Daily Brief, ETH, Ethereum, Fundamental Analysis, Ripple, Technical Analysis, trading, XRP

Crypto Market Analysis

Daily Crypto Review, July 15 – Fidelity Goes All-In On Bitcoin; BTC Difficulty At Historic Heights

Post author By Ilija Rankovic
Post date 15 July, 2020
No Comments on Daily Crypto Review, July 15 – Fidelity Goes All-In On Bitcoin; BTC Difficulty At Historic Heights

The cryptocurrency market had quite a slow day and closed to no movement in the past 24 hours. Bitcoin is currently trading for $9,243, which represents an increase of 0.59% on the day. Meanwhile, Ethereum gained 0.56% on the day, while XRP gained 0.74%.

Daily Crypto Sector Heat Map

When talking about top100 cryptocurrencies, Kava gained 20.77% on the day, making it by far the most prominent daily gainer. Syntherix Network (16.17%) and Waves (15.28%) also did great. On the other hand, Nexo has lost 12.73%, making it the most prominent daily loser. It is followed by Ravencoin’s loss of 8.11% and The Midas Touch’ loss of 6.75%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s dominance level decreased slightly since we last reported, with its value currently at 63%. This value represents a 0.27% difference to the downside when compared to yesterday’s value.

Daily Crypto Market Cap Chart

The cryptocurrency market capitalization increased slightly when compared to when we last reported, with the market’s current value being $272.66 billion. This value represents an increase of $1.79 billion when compared to the value it had yesterday.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

The largest cryptocurrency by market capitalization had quite a slow day. While its price went above the descending resistance line, the price itself did not move that much. On top of that, the move seemingly got stopped by the $9,251 resistance level (at least for now). The decreasing volume while being stopped by both moving averages and the resistance level suggests that the move reached exhaustion and that $9,251 will not be tackled (in the very near future).

BTC traders should look for a trade opportunity after the largest cryptocurrency passes $9,251.

BTC/USD 4-hour Chart

Technical factors:

Price is below its 50-period EMA and its 21-period EMA
Price right below the middle B.B. (20-period SMA)
RSI neutral (48.17)
Increased volume (Coming back to normal)

Key levels to the upside Key levels to the downside

1: $9,251 1: $9,120

2: $9,580 2: $8,980

3: $9,735 3: $8,820

Ethereum

Ethereum was even less volatile than Bitcoin, with its price hardly even moving throughout the day. The second-largest cryptocurrency by market capitalization spent the day sitting on the $240 level while the bears and bulls were fighting on whether the price will consolidate below or above it. The volume dwindled as time passed, and ETH seems like it has more chance of remaining under $240. However, there is still a chance for bulls to win.

Ethereum traders should look for an opportunity after the fight for $240 ends.

ETH/USD 4-hour Chart

Technical Factors:

Price above the 50-period EMA and below the 21-period EMA
Price below the middle B.B. (20-period SMA)
RSI neutral (48.14)
Increased volume (Coming back to normal)

Key levels to the upside Key levels to the downside

1: $240 1: $228

2: $251.4 2: $225.4

3: $260 3: $218

Ripple

The third-largest cryptocurrency by market cap hardly moved at all after the price drop of July 13, which brought the price below the $0.2 threshold yet again. XRP is hovering below the $0.2 level for two days now, without any possibility of breaking it yet.

XRP traders can look for an opportunity to trade when the volume increases, and the trend becomes clear enough, as the low volume and volatility are certainly not ideal for trading at the moment.

XRP/USD 4-hour Chart

Technical factors:

XRP in a mid-term descending trend (though it broke the trend in the short-term)
XRP lacks strong support levels below $0.178
Price above 21-period and below the 50-period EMA
Price right under the middle B.B. (20-period SMA)
RSI is neutral (46.8)
Volume lower than average

Key levels to the upside Key levels to the downside

1: $0.205 1: $0.2

2: $0.214 2: $0.19

3: $0.227 3:$0.178

Tags bitcoin, BTC, Crypto, Crypto Trading, cryptocurrency, Daily Brief, ETH, Ethereum, Fundamental Analysis, Ripple, Technical Analysis, trading, XRP

Crypto Market Analysis

Daily Crypto Review, July 14 – IRS Violated Taxpayers’ “Bill of Rights”; The UK Wants a Digital Currency

Post author By Ilija Rankovic
Post date 14 July, 2020
1 Comment on Daily Crypto Review, July 14 – IRS Violated Taxpayers’ “Bill of Rights”; The UK Wants a Digital Currency

The cryptocurrency market shad a green day, mostly caused by Bitcoin dropping under its immediate support level. Bitcoin is currently trading for $9,199, which represents a decrease of 0.82% on the day. Meanwhile, Ethereum lost 1.6% on the day, while XRP lost 1.42%.

Daily Crypto Sector Heat Map

When talking about top100 cryptocurrencies, Aurora gained 245.87% on the day, making it by far the most prominent daily gainer. Divi (24.12%) and Ravencoin (17.39%) also did great. On the other hand, Ampleforth has lost 36.61%, making it the most prominent daily loser. It is followed by Nexo’s loss of 13.30% and Quant’ loss of 11.55%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s dominance level increased slightly since we last reported, with its value currently at 63.27%. This value represents a 0.33% difference to the upside when compared to yesterday’s value.

Daily Crypto Market Cap Chart

The cryptocurrency market capitalization decreased slightly when compared to when we last reported, with the market’s current value being $270.87 billion. This value represents a decrease of $3 billion when compared to the value it had yesterday.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

The largest cryptocurrency by market capitalization had a red day as bears broke its immediate support level. BTC dropped below the descending trend line as well as the $9,251 level in a short bear run. The price went all the way down to the $9,120 support level, but stopped and reversed its path there.

Once again, BTC traders had a great opportunity to trade the pullback after the bearish move. Trading Bitcoin’s reversals and confirmations are the safest way to trade at the moment.

BTC/USD 4-hour Chart

Technical factors:

Price is below its 50-period EMA and its 21-period EMA
Price at the lower B.B.
RSI at below the middle point and heading down (42.17)
Increased volume

Key levels to the upside Key levels to the downside

1: $9,251 1: $9,120

2: $9,580 2: $8,980

3: $9,735 3: $8,820

Ethereum

Ethereum had a slightly red day as well, but with a much tamer move towards the downside. While bears did manage to push Ethereum below the $240 level, they faced a good amount of resistance at the 4-hour 50-period moving average. However, the price went under it as well, but stopped near the $237 level, where some form of support is created.

Ethereum traders should look for an opportunity to trade the next bounce off of $240 or break to the downside from the $240.

ETH/USD 4-hour Chart

Technical Factors:

Price below the 50-period EMA and the 21-period EMA
Price at the lower B.B.
RSI near the middle (45.68)
Increased volume

Key levels to the upside Key levels to the downside

1: $240 1: $228

2: $251.4 2: $225.4

3: $260 3: $218

Ripple

The third-largest cryptocurrency by market cap fell below the $0.2 support level after a failed attempt of breaking $0.205 to the upside. The price dropped all the way to $0.192 before bouncing back. XRP is now consolidating above the 4-hour 50-period moving average, which it uses as a temporary support. The “battle” for $0.2 is, however, not yet finished.

XRP traders can look for an opportunity to trade after XRP establishes whether it will end up above or below $0.2.

XRP/USD 4-hour Chart

Technical factors:

XRP in a mid-term descending trend (though it broke the trend in the short-term)
XRP lacks strong support levels below $0.178
Price below 21-period and the 50-period EMA
Price at the lower B.B.
RSI is neutral (45.92)
Average volume

Key levels to the upside Key levels to the downside

1: $0.205 1: $0.2

2: $0.214 2: $0.19

3: $0.227 3:$0.178

Tags bitcoin, BTC, Crypto, Crypto Trading, cryptocurrency, Daily Brief, ETH, Ethereum, Fundamental Analysis, Ripple, Technical Analysis, trading, XRP

Crypto Guides

What Are Security Tokens & What Is Their Importance?

Post author By Reddy Shyam Shankar
Post date 13 July, 2020
No Comments on What Are Security Tokens & What Is Their Importance?

Introduction

Security tokens provide the digital ownership of traditionally traded securities. The concept of security tokens is a genuinely revolutionary concept developed by the advent of blockchain. Tokens perform a wide variety of roles, depending on the ecosystem they are used in. Tokens may give voting rights, which may be used as a currency, to be used as a value exchange. The more roles the tokens have, the more useful it can be termed.

People often get confused with cryptocurrencies and tokens. Tokens and cryptocurrencies are fundamentally different. While cryptocurrencies can be used anywhere, I mean, depending on the people/business who accept them as a mode of payment. In contrast, tokens can only be used in the designated environment where they are intended to use. Tokenization, the issue of tokens, is a new concept that came up with the advent of blockchain and created new business models with security and utility tokens.

How are the Security tokens issued?

Security tokens are issued just like how cryptocurrencies are issued using ICO’s. ICO’s are Initial Coin Offerings offered by developers whenever a new DAPP is to be developed. The ICO will have a goal to aim for. Depending on the goal, if the people are interested, based on the platform, the DAPP is developed, they pay the local currency and take the ownership of the tokens. The token gains value depending on the functions, roles, and purposes.

Importance of Security tokens

Security tokens are essential because of the role they play in the securities. Utility tokens need not follow any rules and regulations of the real world since they are used in the intended environment only; everything works as per the rules and regulations formed by the creators. When it comes to security tokens, they are representing something that exists in the real-world in real.

The security tokens are a digital representation of real assets in blockchain so that the transfer of securities will be smooth, verifiable, and, most importantly, to eliminate paper documents. Hence Security tokens should follow all the rules and regulations even when the ICO is conducted, then only it is termed as a success. Therefore these tokens are essential in connecting the real-world assets to the blockchain. The impact of security tokens is as below:

🧾 Credibility

The ICO space is not credible enough at the moment, with a lot of failures. Since the ICO’s of security tokens follow all the existing rules and regulations, people are confident enough to invest in the ICO’s where they are interested instead of thinking about the credibility infrastructure and stuff.

🧾 Reducing the costs associated with traditional finance

In traditional finance, a lot of money is involved in the form of registration when you want to transfer money from one person to another. Lawyers are required, as well. In the case of security tokens, a lot of money can be saved. Smart contracts will even further reduce the complexity involved in the process.

🧾 Execution times

Since no third party is involved, execution times are very less compared to traditional finance.

🧾 Unlimited Market

People from different countries find it extremely difficult to invest in any foreign country. Security tokens ease out this difficult task. Because of this simple reason, investors across the globe can invest without worrying about paper documentation, rules, regulations, and stuff.

🧾 Easier Liquidation

With the available platforms, it will be easy to liquidate your token whenever and wherever required since only the internet is required to liquidate your funds.

Even though the security tokens are less popular than the utility tokens, people will start flocking towards security tokens due to its functionality. Most prominently, it follows all the rules and regulations of the governments; hence these adhere to the credibility of people which utility tokens lack in general.

Tags Blockchain, Blockchain Cryptocurrency, Credibility, Crypto, Crypto Tokens, cryptocurrency, Easier Liquidation, Education, security tokens, Traditional Finance

Crypto Market Analysis

Daily Crypto Review, July 13 – Coinbase Working With the US Secret Service; ETH 2.0 Facing Delays

Post author By Ilija Rankovic
Post date 13 July, 2020
No Comments on Daily Crypto Review, July 13 – Coinbase Working With the US Secret Service; ETH 2.0 Facing Delays

The cryptocurrency market spent the weekend mostly rising in price after a semi-severe drop in price. Bitcoin is currently trading for $9,289, which represents an increase of 0.03% on the day. Meanwhile, Ethereum gained 0.59% on the day, while XRP lost 1.03%.

Daily Crypto Sector Heat Map

When talking about top100 cryptocurrencies, iExec RLC gained 17.91% on the day, making it by far the most prominent daily gainer. Chainlink (17.25%) and Elrond (12.52%) also did great. On the other hand, Flexacoin has lost 21.07%, making it the most prominent daily loser. It is followed by UNUS SED LEO’s loss of 6.27% and Celsius’ loss of 6.03%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s dominance level decreased slightly since we last reported, with its value currently at 62.95%. This value represents a 0.34% difference to the downside when compared to Friday’s value.

Daily Crypto Market Cap Chart

The cryptocurrency market capitalization increased slightly when compared to when we last reported, with the market’s current value being $273.87 billion. This value represents an increase of $0.74 billion when compared to the value it had on Friday.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

The largest cryptocurrency by market capitalization had an average weekend in terms of volatility. Its price went down from $9,200 levels to $9,000 first, but bounced back quickly and started regaining its previous levels. BTC faced resistance in the form of the descending trend line for a short while but overcame it eventually. The price went up and then down to confirm the position above the level above which it is currently trading.

BTC trades should wait for the next increase in volume before trading BTC.

BTC/USD 4-hour Chart

Technical factors:

Price is above its 50-period EMA and its 21-period EMA
Price between the upper B.B. and the middle B.B (20-period SMA)
RSI at the mid-levels (52.35)
Decreased volume

Key levels to the upside Key levels to the downside

1: $9,580 1: $9,251

2: $9,735 2: $9,120

3: $9,870 3: $8,980

Ethereum

Ethereum had had a slow weekend, with mostly sideways movement. However, the second-largest cryptocurrency by market cap managed to establish its position above the $240 during it. While the move to the upside seems to be done, Ethereum fulfilled its short-term goal and can trade, knowing it has strong support at $240.

Ethereum traders should look for an opportunity to trade the next bounce off of $240 or break to the downside from the $240.

ETH/USD 4-hour Chart

Technical Factors:

Price above the 50-period EMA and the 21-period EMA
Price slightly below the upper B.B.
RSI near the middle (55.41)
Decreased volume

Key levels to the upside Key levels to the downside

1: $251.4 1: $240

2: $260 2: $228

3: $278.8 3: $225.4

Ripple

The third-largest cryptocurrency by market cap kept making higher lows and lower highs throughout the weekend. Ultimately, the price broke $0.2 to the downside and came back above it many times, with it currently being below $0.2. It is still uncertain where the price will end up.

XRP traders can look for an opportunity to trade after XRP establishes whether it will end up above or below $0.2.

XRP/USD 4-hour Chart

Technical factors:

XRP in a mid-term descending trend (though it broke the trend in the short-term)
XRP lacks strong support levels below $0.178
Price is at the 21 and above the 50-period EMA
Price slightly above the middle B.B. (20-period SMA)
RSI is neutral (52.65)
Average volume

Key levels to the upside Key levels to the downside

1: $0.205 1: $0.2

2: $0.214 2: $0.19

3: $0.227 3:$0.178

Tags bitcoin, BTC, Crypto, Crypto Trading, cryptocurrency, Daily Brief, ETH, Ethereum, Fundamental Analysis, Ripple, Technical Analysis, trading, XRP

Crypto Market Analysis

Daily Crypto Review, July 10 – Tether and Bitfinex on Trial for $850 million? Tether Holders: Watch Out!

Post author By Ilija Rankovic
Post date 10 July, 2020
No Comments on Daily Crypto Review, July 10 – Tether and Bitfinex on Trial for $850 million? Tether Holders: Watch Out!

The cryptocurrency market was mostly in the red in the past 24 hours, with Bitcoin currently trading for $9,169, which represents a decrease of 2.62% on the day. Meanwhile, Ethereum lost 3.73% on the day, while XRP lost 4.45%.

Daily Crypto Sector Heat Map

When talking about top100 cryptocurrencies, Holo gained 25.95% on the day, making it by far the most prominent daily gainer. Nervos Network (13.81%) and The Midas Touch (13.38%) also did great. On the other hand, Flexacoin has lost 13.72%, making it the most prominent daily loser. It is followed by Quant’s loss of 11.26% and Siacoin’s loss of 9.81%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s dominance level decreased slightly since we last reported, with its value currently at 63.29%. This value represents a 0.1% difference to the downside when compared to yesterday’s value.

Daily Crypto Market Cap Chart

The cryptocurrency market capitalization decreased when compared to when we last reported, with the market’s current value being $273.13 billion. This value represents a decrease of $2.57 billion when compared to the value it had yesterday.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

The largest cryptocurrency by market capitalization had a red day, as bears pushed the price back down towards the $9,000. The descending line Bitcoin broke previously fell under the bearish pressure, and Bitcoin started rushing towards the downside. The bearish move got stopped by the $9,120 level, which held up quite nicely. However, bears have not reached exhaustion, which means that the $9,120 level is not safe yet.

BTC trades should look for the retracement move for a safe trade.

BTC/USD 4-hour Chart

Technical factors:

Price is below its 50-period EMA and its 21-period EMA
Price at the lower B.B.
RSI at the lower levels (37.8)
Increased volume

Key levels to the upside Key levels to the downside

1: $9,580 1: $9,251

2: $9,735 2: $9,120

3: $9,870 3: $8,980

Ethereum

Ethereum made a move towards the downside as well, falling below the ascending line it previously broke, as well as below the $240 level. The move was (for now) stopped by the 4-hour 50-period moving average, and ETH seems to be starting a consolidation phase near the $240 level.

Ethereum traders should look for an opportunity in trading pullbacks from the moving averages or horizontal levels. They should also pay close attention to Bitcoin’s movement, as BTC is mostly the main factor that causes ETH’s volatility.

ETH/USD 4-hour Chart

Technical Factors:

Price above the 50-period EMA and below the 21-period EMA
Price slightly below the middle B.B. (20-period SMA)
RSI near the middle (45.8)
Increased volume

Key levels to the upside Key levels to the downside

1: $240 1: $228

2: $251.4 2: $225.4

3: $260 3: $217.7

Ripple

The third-largest cryptocurrency by market cap ended up in the red as well. After bulls reaching exhaustion at $0.212, bears took over and caused the price to reach the lows of $0.192, therefore breaking $0.205 and $0.2 support levels. XRP has strong support at the $0.19 line (both the horizontal support line and the 50-period moving average are there), so there is almost no chance XRP will move down (unless BTC makes a sharp move down).

XRP traders can look for an opportunity to trade in a range, as XRP is pretty much bound within $0.19 to $0.20 range unless BTC makes a move.

XRP/USD 4-hour Chart

Technical factors:

XRP in a mid-term descending trend (though it broke the trend in the short-term)
XRP lacks strong support levels below $0.178
Price is below the 21 and above the 50-period EMA
Price slightly below the middle B.B. (20-period SMA)
RSI is neutral (50.6)
Increased volume

Key levels to the upside Key levels to the downside

1: $0.205 1: $0.2

2: $0.214 2: $0.19

3: $0.227 3:$0.178

Tags bitcoin, BTC, Crypto, Crypto Trading, cryptocurrency, Daily Brief, ETH, Ethereum, Fundamental Analysis, Ripple, Technical Analysis, trading, XRP

Crypto Market Analysis

Daily Crypto Review, July 9 – TikTokers Causing Dogecoin’s Surge; Cryptos Make Another Move Up

Post author By Ilija Rankovic
Post date 9 July, 2020
No Comments on Daily Crypto Review, July 9 – TikTokers Causing Dogecoin’s Surge; Cryptos Make Another Move Up

The cryptocurrency market made another slight move towards the upside in the past 24 hours. Bitcoin is currently trading for $9,414, which represents an increase of 1.39% on the day. Meanwhile, Ethereum gained 2.91% on the day, while XRP gained 3.34%.

Daily Crypto Sector Heat Map

When talking about top100 cryptocurrencies, Holo gained 40.15% on the day, making it by far the most prominent daily gainer. Stellar (20.70%) and Nervos Network (16.73%) also did great. On the other hand, Quant has lost 11.42%, making it the most prominent daily loser. It is followed by SwissBorg’s loss of 6.36% and Cardano’s loss of 6.16%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s dominance level increased since we last reported, with its value currently at 63.39%. This value represents a 0.14% difference to the upside when compared to yesterday’s value.

Daily Crypto Market Cap Chart

The cryptocurrency market capitalization increased slightly when compared to when we last reported, with the market’s current value being $275.70 billion. This value represents an increase of $3.55 billion when compared to the value it had yesterday.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

The largest cryptocurrency by market capitalization has made another move towards the upside as bulls gathered up. The price managed to push above the descending trend line and reach just shy of $9,500 before returning down to test the newly conquered line as a support level. The line was tested successfully, and Bitcoin seems like it’s consolidating at the $9,400 level.

As mentioned yesterday, the descending line forced a move on Bitcoin, which ended up in BTC crossing to the upside. As with most BTC trades, trading confirmations and pullbacks are the safest way to profit.

BTC/USD 4-hour Chart

Technical factors:

Price is above its 50-period EMA and its 21-period EMA
Price is between the upper B.B. and middle line (20-period SMA)
RSI at the upper levels (65.5)
Increased volume (returning to average)

Key levels to the upside Key levels to the downside

1: $9,580 1: $9,251

2: $9,735 2: $9,120

3: $9,870 3: $8,980

Ethereum

Ethereum made a move towards the upside as well. In fact, it broke a much stronger resistance level than Bitcoin. The ascending resistance level was broken as volume skyrocketed, but the price fell back under it during the confirmation period. However, Ethereum passed to the upside again, where it is now. It is important to note that this price level is unstable because it has not been properly confirmed, as well as because the line is moving sharply towards the upside, which Ethereum might not be able to follow for a long period of time.

Ethereum traders should look for an opportunity to trade around the ascending line (possibly when ETH falls back under it again).

ETH/USD 4-hour Chart

Technical Factors:

Price above the 50-period EMA and the 21-period EMA
Price slightly below the upper B.B.
RSI almost in the overbought territory (68)
Increased volume

Key levels to the upside Key levels to the downside

1: $240 1: $228

2: $251.4 2: $225.4

3: $260 3: $217.7

Ripple

The third-largest cryptocurrency by market cap had much more uniformed moves. After days of almost no volume and volatility, the past couple of days have been extremely interesting for XRP’s price. XRP managed to break the $0.19 resistance (now support) yesterday, while its most recent spike brought its price above $0.2. However, the move got stopped at the $0.205 resistance level a couple of times, so XRP is now trading within a small range.

XRP traders can look for an opportunity to trade now since XRP is trading within a range bound by $0.2 and $0.205.

XRP/USD 4-hour Chart

Technical factors:

XRP in a mid-term descending trend (though it broke the trend in the short-term)
XRP lacks strong support levels below $0.178
Price is above the 21 and 50-period EMA
Price slightly below the upper B.B.
RSI is in the overbought territory (71)
Increased volume

Key levels to the upside Key levels to the downside

1: $0.205 1: $0.2

2: $0.214 2: $0.19

3: $0.227 3:$0.178

Tags bitcoin, BTC, Crypto, Crypto Trading, cryptocurrency, Daily Brief, ETH, Ethereum, Fundamental Analysis, Ripple, Technical Analysis, trading, XRP

Cryptocurrencies

Coinapult Wallet Review: Features, Pros and Cons, Privacy, and Supported Currencies

Post author By Edith M.
Post date 8 July, 2020
No Comments on Coinapult Wallet Review: Features, Pros and Cons, Privacy, and Supported Currencies

When we talk of crypto wallets with a highly sophisticated security system, Coinapult leads the pack. The wallet was established in 2011 and boasts a team of specialists dedicated to providing crypto enthusiasts with a secure and easy way to send or receive cryptocurrencies.

In 2015, they teamed up with Crypto Capital, a licensed financial institution, to offer seamless transactions and facilitate the accessibility of Bitcoins across the globe. Headquartered in Panama City, Panama, one of the top features at Coinapult is its security. It integrates SSL-encryption and two-factor authentication, plus their wallets have the multi-signature feature, which significantly enhances its security.

Coinapult is easy to use and integrates intuitive features such as Tender Wallet Bot (Telegram), which allows users to send funds to other users through the in-app chat. In this Coinwallet crypto wallet guide, we take an in-depth look into its features, pros and cons, privacy, and many more. However, before we get into details, let’s first explore some of its top features.

Coinapult wallet features

Superb security: Security is the greatest concern at Coinapult. For this reason, the wallet integrates a couple of top-notch features, including enhanced protection from DDoS attackers and SSL encryption. It also features such advanced security features, email reports of logins, and many more.

OS compatibility: Coinapult is also compatible with almost any operating system, including API, Web Interface, Windows, iOS, and Android. All you need to do is install the app.

Traditional currency support: Unlike the majority of crypto wallets, Coinapult integrates a couple of traditional currencies, including US Dollar (USD) and Euros (EUR).

Security features

Password encryption: Apart from an elastic multi-stage wallet strategy that ensures 80 to 90% of your funds are secure, Coinapult uses an additional password protection mode to secure its users’ funds.

Cold storage: As an added security measure, users can store their crypto assets or data in a USB-like device in a highly secure offline environment. What’s more, all this data is stored under a multilayered security system under a registered “custodian.”

Offline configuration: The best thing about Coinapult is that its settings can be configured offline. It is possible to configure the most sensitive aspects of your wallet’s security without an internet connection.

Coinapult Privacy

One of the main reasons why crypto enthusiasts seek the services of Coinapult is because it adheres to privacy. The wallet integrates numerous privacy features such as a 2-factor authentication and a white list option. Plus, 80-90% of their user’s funds are stored offline.

Moreover, all its transactions are required to pass through an enhanced verification process that requires users to provide their PINs or passwords to access the wallet. Their keys are also stored in an exchange platform to calculate crypto index prices, generate dynamic bidding as well as asking prices depending on transaction classes.

Supported currencies

Coinapult prides itself as one of the most popular coins with quite a huge number of currencies in the market. What’s more, it supports both traditional and cryptocurrencies. Below is an insight on some of these coins:

Cryptocurrencies supported: Bitcoin (BTC), Litecoin (LTC), Ethereum, DASH, Bitcoin Cash, and many more.
Traditional currencies: Euros (EUR), US Dollar (USD), Sterling pound (GBP)

In addition to these currencies, Coinapult also offers Gold and Silver commodities trading.

Setting up the Coinapult wallet

Coinapult maintains one the easiest and fastest method to transfer, send, and accept Bitcoin payments. Below is a detailed guide on how to go about setting up your wallet:

Step 1: Download and install Coinapult

The first step is to download Coinapult. You can find it from Google Play, iOS, macOS. Alternatively, if you are using a desktop platform, you can sign up at https://coinapult.com/signup to create a new account.

Step 2: Create a new account

Whether using a mobile or desktop platform, the first step is going to the website’s homepage and creating an account. Ensure that you enter the required credentials before going to the next step.

Step 3: Backup your recovery phrase

This is perhaps the most important step while setting up a new wallet at Coinapult. You will be required to backup your recovery phrase, preferably writing it down on a piece of paper.

Step 4: Verify your email

After registering an account, you will be required to verify your email before your account can be activated.

Step 5: Choose your ideal currency at https://coinapult.com/locks/

After activating your account, it is imperative to ensure you choose a list of your ideal currencies.

Step 6: Fill in the total amount you want to send or receive

Key-in the amount you wish to send or receive at the “lock amount” box before heading to the next step.

Step 7: Complete your transaction

After going through all the above steps, your account will be ready for use. You will have successfully sent funds to your desired address through an encrypted .zil domain. It is that simple.

Note that for a transaction to be successful, the platform should show the resulting invoice of the other transacting party at the top right corner. For subsequent transactions, you are required to repeat these steps. Bear in mind that the quick and easy merchant setup does not include bank statement capabilities.

How to Send Bitcoin to an Address via SMS

So, what if you don’t have internet access? You can still send funds to any address – as long as they are registered with Coinapult. Technically, the addition of this feature also means that you can send Bitcoin to anyone across the world, with or without the internet.

The best thing about this feature is that if the recipient does not have an existing account, one is automatically created. They will receive a confirmation message that their Bitcoin has successfully been sent and stored in their wallet as well as instructions on how to withdraw these coins.

To use the SMS feature, however, you will need to key in certain commands.

First, you will need to sign in and add your phone number. Use the command “send” + recipient’s phone number + {amount of Bitcoins}. Below is an example of such a command:

You: send +57744433331.3456

Coinapult: Send 3.4995btc to 8885532221 and Respond “yes 1q2hj6” to confirm

You: yes 2r4hh4

Coinapult: Funds sent. Balance: 4.56btc

Wallet security 101

Now that you have successfully created your Coinapult wallet, there are several things you should take into consideration. These include:

Watch out for malicious malware on your PC: Some malware is capable of using vulnerabilities in your PC to access your private keys. Ensure you have installed a powerful antivirus to enhance your safety.
Keep your recovery phrase safe: Note that in case you lose your “word seed,” “recovery phrase,” or “root key,” it is impossible to access your account.

Customer support

Coinapult takes pride in its exceptional support team. They provide their customers with real-time feedback via their email or live chat. What’s more, they offer a plethora of user-friendly guides as well as a detailed Frequently Asked Questions (FAQs) section.

Additionally, you can also contact them via their interactive social media platforms, including Facebook, Twitter, and LinkedIn accounts.

Coinapult Wallet Compared to Other Competitors

Coinapult is indeed one of the most secure crypto wallets with sophisticated security features. It integrates 2-factor authentication and has a centralized validation mode of transaction. Further, it is quite easy to send or receive funds to the crypto wallet. You can even send your coins via SMS, which makes it a better method for individuals without an internet connection as well as for on-the-move transactions.

All you need to do is follow the prompts while sending SMS commands, and you’ll be good to go. What’s more, it also features some amazing features, such as sending Bitcoin via email or directly from the Telegram app. The ability to integrate these unique features makes it one of the best platforms in the market.

Pros and Cons of Coinapult Wallet

Pros

Its security is top-notch
The registration process is quite easy and straightforward
It is open-source
2-factor authentication
Multi-signature

Cons

One may consider their customer support sluggish

Final Verdict: Is Coinapult Wallet Worth Your Money?

Although Coinapult is not the top-rated crypto wallet in the market, it has gained a reputation and features among the safest platforms. It would be the go-to option for crypto enthusiasts looking for a Bitcoin wallet that supports such traditional currencies as the US Dollar (USD) and Euro (EUR).

Tags Best crypto wallet app, best crypto wallets, Coinapult crypto wallet, Crypto, cryptocurrencies, cryptocurrency, Education, Wallet

Crypto Market Analysis

Daily Crypto Review, July 8 – BTC Will Never Be Private; XRP Skyrocketing

Post author By Ilija Rankovic
Post date 8 July, 2020
No Comments on Daily Crypto Review, July 8 – BTC Will Never Be Private; XRP Skyrocketing

The cryptocurrency market has had more of a steady day as cryptos were trying to find a level to consolidate at. Bitcoin is currently trading for $9,300, which represents an increase of 0.37% on the day. Meanwhile, Ethereum gained 1.61% on the day, while XRP gained 2.43%.

Daily Crypto Sector Heat Map

When talking about top100 cryptocurrencies, Dogecoin gained 54.43% on the day, making it by far the most prominent daily gainer. Cardano (27.36%) and VeChain (18.52%) also did great. On the other hand, SwissBorg has lost 6.68%, making it the most prominent daily loser. It is followed by KuCoin Shares’s loss of 5.48% and Verge’s loss of 4.84%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s dominance level decreased since we last reported, with its value currently at 63.25%. This value represents a 0.88% difference to the downside when compared to yesterday’s value.

Daily Crypto Market Cap Chart

The cryptocurrency market capitalization increased slightly when compared to when we last reported, with the market’s current value being $272.15 68.74 billion. This value represents an increase of $3.41 billion when compared to the value it had yesterday.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

The largest cryptocurrency by market capitalization has spent the day trying to find a place to consolidate at, as it seems like the move towards the upside ended as soon as BTC approached the descending line). While Bitcoin found support at $9,251, its support level and resistance level will soon clash, and Bitcoin will have to make a move.

Traders should look for what happens with Bitcoin’s price when the descending line forces a move on BTC.

BTC/USD 4-hour Chart

Technical factors:

Price is above its 50-period EMA and its 21-period EMA
Price is between the upper B.B. and middle line (20-period SMA)
RSI at the upper levels (61)
Average Volume

Key levels to the upside Key levels to the downside

1: $9,251 1: $9,120

2: $9,580 2: $8,980

3: $9,735 3: $8,820

Ethereum

Ethereum’s is in a slightly different spot when compared to Bitcoin. While its price advances have been stopped by the non-horizontal resistance level, Ethereum’s resistance line is going towards the upside. That opens up a lot of possibilities as ETH isn’t forced to make a move, but might rather choose to follow the line up.

Ethereum traders should look for an opportunity in range trading between the immediate support and resistance levels.

ETH/USD 4-hour Chart

Technical Factors:

Price above the 50-period EMA and the 21-period EMA
Price slightly below the upper B.B.
RSI almost in the overbought territory (67)
Increased volume

Key levels to the upside Key levels to the downside

1: $240 1: $228

2: $251.4 2: $225.4

3: $260 3: $217.7

Ripple

The third-largest cryptocurrency by market cap had an extremely volatile day. XRP managed to skyrocket from $0.183 all the way to $0.2 in one 4-hour candle. The move got stopped by the $0.2 resistance, under which XRP is currently consolidating. While it is highly likely that the move will end here, we might see an attempt of breaking $0.2 yet again.

XRP traders should wait and see what XRP does and look for retracements.

XRP/USD 4-hour Chart

Technical factors:

XRP in a mid-term descending trend (though it broke the trend in the short-term)
XRP lacks strong support levels below $0.178
Price is above the 21 and 50-period EMA
Price at the upper B.B.
RSI is in the overbought territory (79)
Increased volume

Key levels to the upside Key levels to the downside

1: $0.19 1: $0.178

2: $0.2 2: $0.147

3: $0.205

Tags bitcoin, BTC, Crypto, Crypto Trading, cryptocurrency, Daily Brief, ETH, Ethereum, Fundamental Analysis, Ripple, Technical Analysis, trading, XRP

Crypto Market Analysis

Daily Crypto Review, July 7 – Institutions Rushing Into Crypto; Lightning Network Vulnerability?

Post author By Ilija Rankovic
Post date 7 July, 2020
No Comments on Daily Crypto Review, July 7 – Institutions Rushing Into Crypto; Lightning Network Vulnerability?

The cryptocurrency market has had a pretty volatile day, with most cryptos trying to make a move towards the upside. Bitcoin is currently trading for $9,257, which represents an increase of 0.79% on the day. Meanwhile, Ethereum gained 1.82% on the day, while XRP gained 2.2%.

Daily Crypto Sector Heat Map

When talking about top100 cryptocurrencies, Dogecoin gained 21.58% on the day, making it by far the most prominent daily gainer. Aave (20.85%) and Bitcoin SV (15.90%) also did great. On the other hand, Bytom has lost 7.49%, making it the most prominent daily loser. It is followed by NULS’s loss of 7.25% and Synthetix Network’s loss of 3.81%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s dominance level decreased since we last reported, with its value currently at 64.13%. This value represents a 0.68% difference to the downside when compared to yesterday’s value.

Daily Crypto Market Cap Chart

The cryptocurrency market capitalization increased slightly when compared to when we last reported, with the market’s current value being $268.74 billion. This value represents an increase of $4.43 billion when compared to the value it had yesterday.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

The largest cryptocurrency by market capitalization has spent the day being quite volatile, even though it only had an average volume. Bitcoin tried to push past its $9,251 resistance level, which it did for a brief period, but then failed as the price reached a descending resistance line (dating June 01). The bulls got stopped from rising the price, and the price came back to the $9,251 level. It is still unsure whether it will end up above or below the level.

Bitcoin traders should look for whether the price will end up creating a confirmation of a move above or below the $9,251 and go from there.

BTC/USD 4-hour Chart

Technical factors:

Price is above its 50-period EMA and its 21-period EMA
Price is below the top B.B.
RSI at the upper levels (58.49)
Average Volume

Key levels to the upside Key levels to the downside

1: $9,251 1: $9,120

2: $9,580 2: $8,980

3: $9,735 3: $8,820

Ethereum

Ethereum’s price movements followed Bitcoin’s almost to a tea. The second-largest cryptocurrency by market cap rose in price as bull presence intensified, reaching the price of $244 before starting to go back down. The price returned below the $240 level and is now consolidating at the $236 levels. Unlike Bitcoin, Ethereum has quite a bit of volume, which may indicate that its move isn’t over.

Ethereum traders should look for an opportunity in trading when ETH’s price hits the support levels (moving averages, horizontal support levels, etc.).

ETH/USD 4-hour Chart

Technical Factors:

Price above the 50-period EMA and the 21-period EMA
Price slightly below the upper B.B.
RSI almost in the overbought territory (62.8)
Increased volume

Key levels to the upside Key levels to the downside

1: $228 1: $225.4

2: $240 2: $217.7

3: $251.4 3: $198

Ripple

The third-largest cryptocurrency by market cap broke the $0.178 resistance level as well as secured its position above it yesterday. However, the bulls wanted more, and XRP continued its “gain season.” However, it was stopped in its tracks by the $0.19 level. XRP is now consolidating between $0.178 and $0.19.

XRP traders should wait and see how XRP reacts to indicators (moving averages) and go from there.

XRP/USD 4-hour Chart

Technical factors:

XRP in a mid-term descending trend (though it broke the trend in the short-term)
XRP lacks strong support levels below $0.178
Price is above the 21 and 50-period EMA
Price is slightly below the upper B.B.
RSI is in the overbought territory (64.6)
Increased volume

Key levels to the upside Key levels to the downside

1: $0.19 1: $0.178

2: $0.2 2: $0.147

3: $0.205

Tags bitcoin, BTC, Crypto, Crypto Trading, cryptocurrency, Daily Brief, ETH, Ethereum, Fundamental Analysis, Ripple, Technical Analysis, trading, XRP

Crypto Market Analysis

Daily Crypto Review, July 6 – Cryptos Skyrocket on Increased Volume; Bitcoin vs. the S&P 500

Post author By Ilija Rankovic
Post date 6 July, 2020
No Comments on Daily Crypto Review, July 6 – Cryptos Skyrocket on Increased Volume; Bitcoin vs. the S&P 500

The cryptocurrency market has had a relatively slow weekend until 12 hours ago when the volatility skyrocketed, and cryptocurrencies started moving. Bitcoin is currently trading for $9,221, which represents an increase of 1.63% on the day. Meanwhile, Ethereum gained 2.6% on the day, while XRP gained 2.52%.

Daily Crypto Sector Heat Map

When talking about top100 cryptocurrencies, Bytom gained 18.16% on the day, making it by far the most prominent daily gainer. ABBC Coin (11.31%) and NULS (10.89%) also did great. On the other hand, Celsius has lost 10.85%, making it the most prominent daily loser. It is followed by Loopring’s loss of 8.98% and Blockstack’s loss of 5.40%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s dominance level decreased since we last reported, with its value currently at 64.81%. This value represents a 0.32% difference to the downside when compared to Friday’s value.

Daily Crypto Market Cap Chart

The cryptocurrency market capitalization increased slightly when compared to when we last reported, with the market’s current value being $264.31 billion. This value represents an increase of $3.72 billion when compared to the value it had on Friday.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

The largest cryptocurrency by market capitalization has spent the weekend without too much volatility, mostly trading within a range bound by $8,980 and $9,120. There were a couple of occasions where the price tried to pass below the support level and one time that it tried to break above the resistance. However, the volatility skyrocketed in the past 12 hours, as Bitcoin first dropped significantly, reaching $8,900, only to recover and push to $9,200.

Bitcoin seems to be stopped at the $9,251 resistance level, and people should look for how the price movement unfolds after that. Trading when Bitcoin moves within a range, or trading breakout confirmations and pullbacks is the easiest way to net a profit.

BTC/USD 4-hour Chart

Technical factors:

Price is above its 50-period EMA and its 21-period EMA
Price is above the top B.B.
RSI at the upper levels (62.4)
Increased Volume

Key levels to the upside Key levels to the downside

1: $9,251 1: $9,120

2: $9,580 2: $8,980

3: $9,735 3: $8,820

Ethereum

Ethereum’s price movements looked a lot like Bitcoin’s, except that it made an even bigger gain on the daily. The second-largest cryptocurrency by market cap had strong support at $225.4 from which it bounced up, reaching $235. However, the momentum dwindled, and Ethereum is unsure of whether it will continue its move up. For now, the price is consolidating at around $233.

Ethereum traders should look for an opportunity in trading pullbacks or confirmations from ETH contesting the trend (if it manages to reach the bottom trend line).

ETH/USD 4-hour Chart

Technical Factors:

Price above the 50-period EMA and the 21-period EMA
Price above the upper B.B.
RSI almost in the overbought territory (67.2)
Increased volume

Key levels to the upside Key levels to the downside

1: $228 1: $225.4

2: $240 2: $217.7

3: $251.4 3: $198

Ripple

The third-largest cryptocurrency by market cap finally gathered enough bull presence to make a move towards the upside. Sparked up by Bitcoin’s movements, XRP broke out of the descending trend (for now) and reached past the $0.178 support level. While the move seems to be over, due to buyer exhaustion, XRP managed to reach $0.182 levels, which should make it safe from immediately falling under $0.178 (at least in the short term).

XRP/USD 4-hour Chart

Technical factors:

XRP in a mid-term descending trend (though it broke the trend in the short-term)
XRP lacks strong support levels below $0.178
Price is above the 21 and 50-period EMA
Price is above the upper B.B.
RSI is in the overbought territory (71.2)
Increased volume

Key levels to the upside Key levels to the downside

1: $0.178 1: $0.147

2: $0.19

3: $0.2

Tags bitcoin, BTC, Crypto, Crypto Trading, cryptocurrency, Daily Brief, ETH, Ethereum, Fundamental Analysis, Ripple, Technical Analysis, trading, XRP

Crypto Market Analysis

Daily Crypto Review, July 3 – IRS Wants to Track Lightning Transactions and Privacy Coins; Cryptocurrencies Facing Boundaries

The cryptocurrency market has gone through the day trying to make moves to the upside, but mostly ending up in the red. Bitcoin is currently trading for $9,102, which represents a decrease of 1.2% on the day. Meanwhile, Ethereum lost 0.78% on the day, while XRP lost 0.05%.

Daily Crypto Sector Heat Map

When talking about top100 cryptocurrencies, Kyber Network gained 13.60% on the day, making it by far the most prominent daily gainer. ICON (10.43%) and VeChain (6.68%) also did great. On the other hand, The Midas Touch has lost 11.52%, making it the most prominent daily loser. It is followed by Bitcoin Gold’s loss of 7.81% and Compound’s loss of 6.81%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s dominance level decreased slightly since we last reported, with its value currently at 65.13%. This value represents a 0.17% difference to the downside when compared to yesterday’s value.

Daily Crypto Market Cap Chart

The cryptocurrency market capitalization decreased slightly when compared to yesterday, with the market’s current value being $260.59 billion. This value represents a decrease of $2 billion when compared to the value it had yesterday.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

The largest cryptocurrency by market capitalization has spent the past day struggling to keep its current level after failing to break $9,251. As the volume increased greatly, Bitcoin managed to approach $9,251 and contest it, but only for a short period of time before falling all the way to $8,935. Its price is now stabilizing at around $9,050.

As we said in our yesterday’s article, traders should be wary of trading Bitcoin just based on its momentum as you never without confirmation. They should rather watch for confirmations or pullbacks and trade those (and those that did had a great trade yesterday).

BTC/USD 4-hour Chart

Technical factors:

Price is below its 50-period EMA and its 21-period EMA
Price is between the Lower B.B and the Middle B.B. (20period SMA)
RSI below the middle point (44.4)
Increased Volume (Coming back to normal)

Key levels to the upside Key levels to the downside

1: $9,251 1: $9,120

2: $9,580 2: $8,980

3: $9,735 3: $8,820

Ethereum

Ethereum had quite a bad day, as Bitcoin’s move towards the downside pulled its price down as well, making it leave the ascending trade channel it was in. After falling out of the channel, Ethereum found support in the $225.4 support level, which held up nicely. The price is now moving up, possibly contesting the channel soon.

Ethereum traders should look for an opportunity in trading pullbacks or confirmations from ETH contesting the trend.

ETH/USD 4-hour Chart

Technical Factors:

Price below the 50-period EMA and the 21-period EMA
Price at the Middle B.B. (20-period SMA)
RSI below the middle point (48.8)
Increased volume (Coming back to normal)

Key levels to the upside Key levels to the downside

1: $228 1: $225.4

2: $240 2: $217.7

3: $251.4 3: $198

Ripple

The third-largest cryptocurrency by market cap is continuing its path towards the downside by following the descending trading channel. XRP doesn’t have enough volume to tackle any resistance levels, and it seems that it is just bouncing off of the bottom and top channel lines.

There aren’t many XRP trading opportunities at the moment, but traders could sneak in a trade or two tradings this ranging move XRP is performing.

XRP/USD 4-hour Chart

Technical factors:

XRP in a mid-term (and short-term) descending trend
XRP lacks strong support levels below $0.178
The upside is guarded by the 21 and 50-period EMA
Price is at the Middle B.B. (20 SMA)
RSI is below the middle point (47.9)
Average (extremely low) volume

Key levels to the upside Key levels to the downside

1: $0.178 1: $0.147

2: $0.19

3: $0.2

Tags bitcoin, BTC, Crypto, Crypto Trading, cryptocurrency, Daily Brief, ETH, Ethereum, Fundamental Analysis, Ripple, Technical Analysis, trading, XRP

Crypto Market Analysis

Daily Crypto Review, July 2 – Paypal Using Crypto? Bitcoin Preparing For a Move

Post author By Ilija Rankovic
Post date 2 July, 2020
No Comments on Daily Crypto Review, July 2 – Paypal Using Crypto? Bitcoin Preparing For a Move

The cryptocurrency market has spent the day attempting to break its immediate resistance levels. Bitcoin is currently trading for $9,202, which represents an increase of 0.56% on the day. Meanwhile, Ethereum gained 1.57% on the day, while XRP gained 0.66%.

Daily Crypto Sector Heat Map

When talking about top100 cryptocurrencies, Synthetix Network gained 22.77% on the day, making it by far the most prominent daily gainer. Kyber Network (16.35%) and Aave (14.66%) also did great. On the other hand, Celsius has lost 9.71%, making it the most prominent daily loser. It is followed by Compound’s loss of 9.57% and SwissBorg’s loss of 4.86%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s dominance level decreased slightly since we last reported, with its value currently at 65.30%. This value represents a 0.06% difference to the downside when compared to yesterday’s value.

Daily Crypto Market Cap Chart

The cryptocurrency market capitalization increased slightly when compared to yesterday, with the market’s current value being $262.59 billion. This value represents an increase of $3.11 billion when compared to the value it had yesterday.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

The largest cryptocurrency by market capitalization has spent the past day trying to reach above its $9,251 resistance level. As the volume increased, Bitcoin managed to tackle this level, but only for a short period of time. The price didn’t manage to stay above $9,251, and Bitcoin moved below it yet again. It is now consolidating right below it.

Traders should be wary of trading Bitcoin just based on its momentum. They should rather watch for confirmations or pullbacks and trade those.

BTC/USD 4-hour Chart

Technical factors:

Price is above its 50-period EMA and its 21-period EMA
Price is above the Middle B.B. (20period SMA)
RSI above the middle point (55.5)
Increased Volume (Coming back to normal)

Key levels to the upside Key levels to the downside

1: $9,251 1: $9,120

2: $9,580 2: $8,980

3: $9,735 3: $8,820

Ethereum

Ethereum was also ready to move to the upside in the past 24 hours, which it did a bit more successfully than Bitcoin. The second-largest cryptocurrency by market capitalization gathered up buyers and tried to reach higher levels (though not necessarily to break any resistance levels like $240 is too far away. However, it got stopped in its tracks around the $233 mark, where the price hit the newly-formed trend upper line.

Ethereum traders should have an easy time trading within the boundaries of the newly-formed trend.

ETH/USD 4-hour Chart

Technical Factors:

Price above the 50-period EMA and the 21-period EMA
Price right above Middle B.B. (20-period SMA)
RSI above the middle point (52.7)
Increased volume

Key levels to the upside Key levels to the downside

1: $228 1: $225.4

2: $240 2: $217.7

3: $251.4 3: $198

Ripple

The third-largest cryptocurrency by market cap is continuing its path towards the downside by following the descending trend line. XRP doesn’t have enough volume to tackle the $0.178 level at the moment, so its moves are either to the downside or right to the resistance level.

There aren’t many XRP trading opportunities at the moment, but most of them are completely straightforward, as they are always accompanied by sharp increases in volume.

XRP/USD 4-hour Chart

Technical factors:

XRP in a mid-term descending trend
XRP lacks strong support levels below $0.178
The upside is guarded by the 21 and 50-period EMA
Price in a narrow range between the Middle B.B. (20 SMA) and Lower B.B.
RSI is below the middle point (47)
Average (extremely low) volume

Key levels to the upside Key levels to the downside

1: $0.178 1: $0.147

2: $0.19

3: $0.2

Tags bitcoin, BTC, Crypto, Crypto Trading, cryptocurrency, Daily Brief, ETH, Ethereum, Fundamental Analysis, Ripple, Technical Analysis, trading, XRP

Crypto Market Analysis

Daily Crypto Review, July 1 – BoA Treating Crypto as Cash; XRP Continuing its Downtrend

Post author By Ilija Rankovic
Post date 1 July, 2020
No Comments on Daily Crypto Review, July 1 – BoA Treating Crypto as Cash; XRP Continuing its Downtrend

The cryptocurrency market has had a slow day, with most cryptos seeking consolidation. Bitcoin is currently trading for $9,144, which represents an increase of 0.13% on the day. Meanwhile, Ethereum lost 0.76% on the day, while XRP lost 0.86%.

Daily Crypto Sector Heat Map

When talking about top100 cryptocurrencies, Electroneum gained 16.39% on the day, making it by far the most prominent daily gainer. Elrond (15.22%) and SwissBorg (10.43%) also did great. On the other hand, Flexacoin has lost 16.03%, making it the most prominent daily loser. It is followed by Quant’s loss of 8.69% and Compound’s loss of 7.84%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s dominance level decreased slightly since we last reported, with its value currently at 65.36%. This value represents a 0.04% difference to the downside when compared to yesterday’s value.

Daily Crypto Market Cap Chart

The cryptocurrency market capitalization stayed at almost precisely the same place when compared to yesterday, with the market’s current value being $259.48 billion. This value represents a decrease of $1.76 billion when compared to the value it had yesterday.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

The largest cryptocurrency by market capitalization took another day to find a place at which to consolidate. Low Volume and low volatility gave us a day with seemingly no movement, but the lack of action is more likely produced by the support and resistance levels rather than the absence of Volume. Bitcoin is trading in an extremely tight range, bound by the 50-period moving average to the upside and $9,120 to the downside.

Trading in such a narrow range is impossible for more extended periods, so traders should be aware of any volume increases accompanied by one of these levels being broken.

BTC/USD 4-hour Chart

Technical factors:

Price is below its 50-period EMA and above its 21-period EMA
Price above the Middle B.B. (20period SMA)
RSI near the middle point (48)
Average Volume

Key levels to the upside Key levels to the downside

1: $9,251 1: $9,120

2: $9,580 2: $8,980

3: $9,735 3: $8,820

Ethereum

The second-largest cryptocurrency by market capitalization retreated to the support level of $225.4 over the course of the day. While the Volume is extremely low, bears seem to be in slight control over Ethereum, which is why the immediate support level is continuously being tested.

Ethereum traders should position their next trade based on the break confirmation (to the upside or downside) of the $225.4 level.

ETH/USD 4-hour Chart

Technical Factors:

Price below the 50-period EMA and the 21-period EMA
Price right above Middle B.B. (20-period SMA)
RSI near the middle point (46)
Extremely low Volume

Key levels to the upside Key levels to the downside

1: $228 1: $225.4

2: $240 2: $217.7

3: $251.4 3: $198

Ripple

The third-largest cryptocurrency by market cap is continuing its path towards the downside by following the descending trend line. After failing to regain its position above the $0.178 level, XRP started dropping in price. The price drop was (for now) stopped by the lower Bollinger band. However, any move towards the upside will not only have to tackle the $0.178 level, but the 21-period and 50-period moving averages as well.

There aren’t many XRP trading opportunities at the moment, but most of them are completely straightforward, as they are always accompanied by sharp increases in Volume.

XRP/USD 4-hour Chart

Technical factors:

XRP in a mid-term descending trend
XRP lacks strong support levels below $0.178
The upside is guarded by the 21 and 50-period EMA
Price in a narrow range between the Middle B.B. (20 SMA) and Lower B.B.
RSI is below the middle point (39)
Lower than average Volume

Key levels to the upside Key levels to the downside

1: $0.178 1: $0.147

2: $0.19

3: $0.2

Tags bitcoin, BTC, Crypto, Crypto Trading, cryptocurrency, Daily Brief, ETH, Ethereum, Fundamental Analysis, Ripple, Technical Analysis, trading, XRP

Cryptocurrencies

What is Mona Coin? Here’s All

Post author By Edith M.
Post date 30 June, 2020
No Comments on What is Mona Coin? Here’s All

Cryptocurrency is a radical idea. From the decentralization and autonomy beliefs that underpin it, to its revolutionary technology that enables permanent, transparent, and employs ultra-modern cryptography to safeguard transactions. It makes sense, therefore, that thousands of cryptocurrencies have been created to actualize these beliefs in countless industries.

Even countries are now adopting national cryptocurrencies in order to derive the massive value they have to offer.

MonaCoin, which calls itself “The first Japanese Cryptocurrency,” is one such cryptocurrency. And though it’s not exactly an official national cryptocurrency, i.e., it’s not government-sponsored or affiliated in any way, it’s one that has been created with the notion in mind.

The cryptocurrency is quite popular there, being featured on Tokyo TV. Someone even famously bought land with it back in 2014.

So, what’s Mona Coin all about? Read on to discover more about this interesting project.

Understanding MonaCoin

Launched in 2013, MonaCoin is a cryptocurrency predominantly used in Japan. The name is inspired by “Mona” or “Monā,” a popular internet meme based on a cat-like character created with ASCII characters. The existence and work on the currency were announced on 2channel, an anonymous and the most popular online community in Japan. It was created by “Mr.Watanabe” – whose real identity has remained a mystery just like Bitcoin’s Satoshi Nakamoto.

MonaCoin was created as a peer-to-peer electronic cash system, just like Bitcoin, and it’s targeted to Japanese citizens. The coin has found a degree of acceptance in the country, being accepted for payment in several stores. The coin is approved by Japan’s Financial Services Agency and is traded in several exchanges.

MonaCoin: An History

MonaCoin’s development began in 2013, officially being born on January 1, 2014. The coin was not pre-mined.

At block height 937440, the MonaCoin blockchain executed a soft fork to implement Segwit, a technology meant to improve scalability on blockchains. The team also has the Lightning Network, another scalability solution for payment-focused cryptocurrencies.

It’s theorized that MonaCoin’s creation reflects a Japanese culture to have a native version of popular things from around the globe. It’s a desire for the Japanese to have their own version of popular products and services that they can take pride in both as being homemade and also one that’s expressed in the Japanese language.

Who’s on the MonaCoin Team?

This is not an easy question to answer, given the founder of the project has remained pseudonymous, perhaps in homage to Satoshi Nakamoto. The creator only identifies by “Mr. Watanabe,” and the rest of the team is also anonymous. However, many people speculate that the creators are Japanese.

Additionally, the project doesn’t have a publicly available roadmap. However, its implementation of technologies such as Segwit and the Lightning Network reveals that the team clearly likes to stay on top of things. Follow MonaCoin’s development here.

MonaCoin Economics

Here’s a breakdown of MonaCoin as of June 15, 2020. The coin was trading at $1.67, with a #62 market rank. It has a market cap of $110, 072, 984, as well as a 24-hour volume of $7,736,469 and a circulating and total supply of 65,729,675. MonaCoin’s all-time high was $20.23 (Dec 06, 2017) , and its all-time low was $.0.019599 (Jan 14,2015).

Buying and Storing MonaCoin

As you would expect, Japan-based exchanges, like Bitbank and Zaif, are the ones with the majority of MonaCoin’s trading volume. However, you can also find the coin in exchanges like Upbit and Bittrex.

MonaCoin has its own wallets that are available for Windows, Mac, and Linux. It also supports its own Electrum Wallet as a Coinomi wallet for Android.

Final Words

MonaCoin is a cryptocurrency made by the Japanese for Japan. It’s popular in the country and is enjoying quite a bit of acceptance there. And while the project’s creators remain tight-lipped about their identities, the important thing is that they have delivered, and continue to deliver, a cryptocurrency that the Japanese and the entire blockchain and crypto community can be proud about.

Tags Crypto, Crypto Trading, cryptocurrencies, cryptocurrency, Education, Japanese cryptocurrency, MonaCoin

Crypto Market Analysis

Daily Crypto Review, Jun 30 – Crypto Debit Cards are Dead? Crypto Market Preparing For a Move

Post author By Ilija Rankovic
Post date 30 June, 2020
No Comments on Daily Crypto Review, Jun 30 – Crypto Debit Cards are Dead? Crypto Market Preparing For a Move

The cryptocurrency market has had a slow day, with most cryptos seeking consolidation after a turbulent weekend. Bitcoin is currently trading for $9,161, which represents an increase of 0.66% on the day. Meanwhile, Ethereum gained 1.02% on the day, while XRP gained 0.12%.

Daily Crypto Sector Heat Map

When talking about top100 cryptocurrencies, SwissBorg gained 18.17% on the day, making it by far the most prominent daily gainer. Elrond (12.74%) and Flexacoin (10.34%) also did great. On the other hand, The Midas Touch has lost 6.55%, making it the most prominent daily loser. It is followed by Ren’s loss of 5.09% and Bitcoin Gold’s loss of 4.36%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s dominance level increased slightly since we last reported, with its value currently at 65.4%. This value represents a 0.15% difference to the upside when compared to yesterday’s value.

Daily Crypto Market Cap Chart

The cryptocurrency market capitalization stayed at exactly the same place when compared to yesterday, with the market’s current value being $261.24 billion. This value represents an increase of $1.82 billion when compared to the value it had yesterday.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

The largest cryptocurrency by market capitalization took the time to recover after a pretty volatile weekend. The price surpassed yesterday’s price, but not by much. Even so, the 21-period moving average is tackled, and Bitcoin is now using it as a support rather than a resistance level. However, its moves to the upside were stopped by the 50-period moving average as well as the $9,251 resistance level.

Traders should closely pay attention to how well Bitcoin reacts to immediate support and resistance levels, as well as to the 21-period and 50-period moving averages.

BTC/USD 4-hour Chart

Technical factors:

Price is below its 50-period EMA and above its 21-period EMA
Price above the Middle B.B. (20period SMA)
RSI near the middle point (52)
Slightly above-average Volume

Key levels to the upside Key levels to the downside

1: $9,251 1: $9,120

2: $9,580 2: $8,980

3: $9,735 3: $8,820

Ethereum

Ethereum had an interesting day, as its price was not so stagnant. The second-largest cryptocurrency by market cap made a move to the upside in order to confirm breaking of $225.4 to the upside. After this was done successfully, the move got stopped in between the 21-period moving average to the downside and the 20-period SMA to the upside.

Ethereum traders should pay attention to support and resistance levels more than the moving averages, as it seems that Ethereum respects clear horizontal levels a bit more.

ETH/USD 4-hour Chart

Technical Factors:

Price below the 50-period EMA and above the 21-period EMA
Price right below Middle B.B. (20-period SMA)
RSI near the middle point (51)
Average (low) Volume

Key levels to the upside Key levels to the downside

1: $228 1: $225.4

2: $240 2: $217.7

3: $251.4 3: $198

Ripple

The third-largest cryptocurrency by market cap had a slow day, even with slightly elevated volume. XRP tried to break the $0.178 resistance level over the course of the day but failed to do so many times. As both 21period EMA and 20-period SMA are currently at the $0.178 level, XRP’s price might slowly go down as these moving average lines lower.

There aren’t many XRP trading opportunities at the moment, but most of them are completely straightforward, as they are always happening with sharp increases in volume. If XRP goes down, It is heavily guarded by the descending line which can be traded off of.

XRP/USD 4-hour Chart

Technical factors:

XRP in a mid-term descending trend
XRP lacks strong support levels below $0.178
The upside is guarded by the 21 and 50-period EMA
Price slightly below the Middle B.B. (20 SMA)
RSI is below the middle point (44)
Average Volume

Key levels to the upside Key levels to the downside

1: $0.178 1: $0.147

2: $0.19

3: $0.2

Tags bitcoin, BTC, Crypto, Crypto Trading, cryptocurrency, Daily Brief, ETH, Ethereum, Fundamental Analysis, Ripple, Technical Analysis, trading, XRP

Crypto Market Analysis

Daily Crypto Review, Jun 29 – Grayscale Buying Bitcoin Non-Stop: Preparing For a Bull Run or Whales Dumping BTC?

Post author By Ilija Rankovic
Post date 29 June, 2020
No Comments on Daily Crypto Review, Jun 29 – Grayscale Buying Bitcoin Non-Stop: Preparing For a Bull Run or Whales Dumping BTC?

The cryptocurrency market has had a somewhat turbulent weekend. Most cryptocurrencies’ prices tumbled on Jan 27 as Bitcoin led the move to the downside but quickly started gaining bullish momentum and recovered over the rest of the weekend. Bitcoin is currently trading for $9,103, which represents an increase of 1.64% on the day. Meanwhile, Ethereum gained 2.82% on the day, while XRP gained 1.11%.

Daily Crypto Sector Heat Map

When talking about top100 cryptocurrencies, Bitcoin Gold gained an astonishing 30.57 on the day, making it by far the most prominent daily gainer. Celsius (13.56%) and NULS (13.27%) also did great. On the other hand, Flexacoin has continued extremely bad performance, and is the worst daily performer once again, with a daily loss of 22.66%. It is followed by SwissBorg’s loss of 4.08% and BAT’s loss of 3.72%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s dominance level increased slightly since we last reported, with its value currently at 65.25%. This value represents a 0.22% difference to the upside when compared to Friday’s value.

Daily Crypto Market Cap Chart

The cryptocurrency market capitalization stayed at exactly the same place when compared to Friday, with the market’s current value being $259.88 billion. This value represents an increase of $1.52 billion when compared to the value it had on Friday.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

The largest cryptocurrency by market capitalization had quite a volatile weekend. It dropped heavily in price on Saturday as a response to the PlusToken Ponzi scheme sell-off. The price reached a low of $8,820 before bouncing back. Bitcoin bulls managed to bring the price back above $9,000 and further until the price has collided with the 4-hour 21-period moving average.

Traders should closely pay attention to how well Bitcoin reacts to immediate support and resistance levels, as well as to the 21-period and 50-period moving averages when recovering from bearish moves or consolidating after bullish moves.

BTC/USD 4-hour Chart

Technical factors:

Bitcoin is creating lower lows
Price is below its 21 and 50-period EMA
Price at the Middle B.B. (20period SMA)
RSI near the middle point (47)
Below-average Volume

Key levels to the upside Key levels to the downside

1: $9,251 1: $9,120

2: $9,580 2: $8,980

3: $9,735 3: $8,820

Ethereum

Ethereum followed Bitcoin’s initiative throughout the weekend and mirrored its moves (with more or less strength). The price drop on Saturday brought the price to the $217.7 support level before slowly returning to its previous levels before the price drop. Ethereum is now fighting for the $225.4 level, which it is currently above.

As mentioned in our previous articles, Ethereum doesn’t have much initiative at the moment except for following Bitcoin’s moves. Traders can use that to either trade within a range while Bitcoin isn’t moving or to trade ETH with the trend as it is (on average) making larger moves in the same direction than Bitcoin.

ETH/USD 4-hour Chart

Technical Factors:

Price gain stopped by the 21 and 50-period EMA
Price right below the Middle B.B. (20-period SMA)
RSI near the middle point (46)
Average (low) Volume

Key levels to the upside Key levels to the downside

1: $228 1: $225.4

2: $240 2: $217.7

3: $251.4 3: $198

Ripple

The third-largest cryptocurrency by market cap followed Bitcoin all throughout the weekend (in both its move to the downside and upside) but also followed its descending path. XRP fell right to the descending trend line, which held up nicely and triggered a price bounce. This line has proven itself as strong support. However, XRP fell below the $0.178 in the process, and the price bounce couldn’t bring it back above it.

There aren’t many XRP trading opportunities, but most of them are completely straightforward as they are always happening with sharp increases in Volume.

XRP/USD 4-hour Chart

Technical factors:

XRP in a mid-term descending trend
XRP lacks strong support levels below $0.178
The upside is guarded by the 21 and 50-period EMA
Price slightly below the Middle B.B. (20 SMA)
RSI is below the middle point (43)
Average Volume

Key levels to the upside Key levels to the downside

1: $0.178 1: $0.147

2: $0.19

3: $0.2

Tags bitcoin, BTC, Crypto, Crypto Trading, cryptocurrency, Daily Brief, ETH, Ethereum, Fundamental Analysis, Ripple, Technical Analysis, trading, XRP

Crypto Market Analysis

Daily Crypto Review, Jun 26 – Bitcoin’s Move Towards the Upside Stopped. What Should Traders Do?

Post author By Ilija Rankovic
Post date 26 June, 2020
No Comments on Daily Crypto Review, Jun 26 – Bitcoin’s Move Towards the Upside Stopped. What Should Traders Do?

The cryptocurrency market has spent the past 24 hours mostly consolidating or being slightly in the green, as the bull initiative wasn’t strong enough to push cryptos (mostly Bitcoin as the “pack leader”) higher. Bitcoin is currently trading for $9,227, which represents an increase of 1.54% on the day. Meanwhile, Ethereum gained 0.92% on the day, while XRP lost gained 1.03%.

Daily Crypto Sector Heat Map

When talking about top100 cryptocurrencies, Compound came back from the biggest daily losers (yesterday) to a daily gain of 13.84 today. Celsius (8.27%) and Ren (8.16) also did great. Flexacoin was by far the worst daily performer, with a loss of 18.09%, then followed by SwissBorg’s loss of 5.38% and Seele-N’s loss of 5.31%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s dominance level increased slightly since we last reported, with its value currently at 65.03%. This value represents a 0.1% difference to the upside when compared to yesterday’s value.

Daily Crypto Market Cap Chart

The cryptocurrency market capitalization stayed at exactly the same place when compared to yesterday, with the market’s current value being $261.4 billion. This value represents an increase of $0.01 billion when compared to the value it had yesterday.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

The largest cryptocurrency by market capitalization spent the past 24 hours trying to recover and re-enter the triangle formation it fell from just a day ago. However, the bottom triangle line, combined with the 21-period moving average, stopped it in its tracks. With that being said, Bitcoin did gain some value on the day. However, that wasn’t enough to pass the $9,251 and confirm the breakthrough. The $9,120 level, which was problematic yesterday, was, however, tackled, and Bitcoin is now sitting strong above it.

Traders should closely pay attention to the future short-term development of Bitcoin. When no major volume spikes happen, Bitcoin is very responsive to its support/resistance levels as well as its moving averages. Traders can use that to their advantage.

BTC/USD 4-hour Chart

Technical factors:

Triangle Formation re-entering failed
Price is below its 21 and 50-period EMA
Price is between the Lower BB and Middle line (20period SMA)
RSI near the middle point (42)
Slightly elevated volume

Key levels to the upside Key levels to the downside

1: $9,251 1: $9,120

2: $9,580 2: $8,980

3: $9,735 3: $8,820

Ethereum

Ethereum bounced back from its lower Bollinger Band and tried to make a move towards the upside, but got stopped in its tracks by the 21 and 50-period moving averages. The second-largest cryptocurrency by market cap seems to have acknowledged these lines and couldn’t make a move past them, therefore returning to a slightly lower price. Ethereum is still trading within a large range, bound by $228 (and $225.4 as stronger support) support level and the moving averages + $240 level to the upside.

If Bitcoin doesn’t make any sharp move, which will prompt Ethereum into moving, traders can take advantage of clear support and resistance levels and trade-off of them.

ETH/USD 4-hour Chart

Technical Factors:

Price gain stopped by the 21 and 50-period EMA
Price between the Lower BB and Middle line (20-period SMA)
RSI near the middle point (43)
Average Volume

Key levels to the upside Key levels to the downside

1: $240 1: $228

2: $251.4 2: $225.4

3: $260 3: $217.7

Ripple

The third-largest cryptocurrency by market cap traded mostly sideways over the course of the day. It managed to bounce off from the lower Bollinger Band and strengthen its position around the $0.183 but failed to even attempt a move towards the upside as the upside seems to be guarded by the descending 21 and 50-period moving averages. However, the good thing is that XRP is stable and does not look like it will drop below $0.178 any time soon.

There aren’t many XRP trading opportunities, but most of them are straightforward as they are always happening with increased volume, and are one-sided and without many retracements. Traders might find a good, simple, and clean trade on XRP/USD here and there.

XRP/USD 4-hour Chart

Technical factors:

XRP in a mid-term descending trend
XRP lacks strong support levels below $0.178
The upside is guarded by the 21 and 50-period EMA
Price slightly above the Lower BB
RSI is below the middle point (42)
Elevated volume (returning to normal)

Key levels to the upside Key levels to the downside

1: $0.19 1: $0.178

2: $0.2 2: $0.147

3: $0.205

Tags bitcoin, BTC, Crypto, Crypto Trading, cryptocurrency, Daily Brief, ETH, Ethereum, Fundamental Analysis, Ripple, Technical Analysis, trading, XRP

Crypto Market Analysis

Daily Crypto Review, Jun 25 – Craig Wright Plays the Autism Card; Crypto Market Crumbling

Post author By Ilija Rankovic
Post date 25 June, 2020
No Comments on Daily Crypto Review, Jun 25 – Craig Wright Plays the Autism Card; Crypto Market Crumbling

The cryptocurrency market has spent the past 24 hours, either establishing its current levels or gaining a bit of value. Bitcoin is currently trading for $9,090, which represents a decrease of 5.76% on the day. Meanwhile, Ethereum lost 7.04% on the day, while XRP lost 4.98%.

Daily Crypto Sector Heat Map

Cryptocurrencies below the top50 did the best in the past 24 hours, with Quant gaining 19.69%, Flexacoin 19.53%, and Synthetix Network 13.15%. Seele-N was by far the worst daily performer, with a loss of 22.69%, followed by Compound’s loss of 12.70% and Siacoin’s loss of 10.27%.

Top 10 24-hour Performers (Click to enlarge)

Bottom 10 24-hour Performers (Click to enlarge)

Bitcoin’s dominance level decreased slightly since we last reported, with its value currently at 64.93%. This value represents a 0.18% difference to the downside when compared to yesterday’s value.

Daily Crypto Market Cap Chart

The cryptocurrency market capitalization decreased greatly when compared to yesterday, with the market’s current value being $261.39 billion. This value represents a decrease of $14.46 billion when compared to the value it had yesterday.

_______________________________________________________________________

What happened in the past 24 hours?

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

The largest cryptocurrency by market capitalization spent the past 24 hours falling sharply after not being able to pass the $9,735 level. Bears came into play after bears exhausted themselves on trying to push beyond the immediate resistance of $9,735, which made it easy for them to drastically bring Bitcoin’s price down. The most recent price drop brought it to the $8,980 support level, but Bitcoin quickly recovered to above-$9,000 levels. Bitcoin is trading on increased volume, while its RSI grazed the oversold territory without entering it.

The short-term future of Bitcoin will be decided on how it tackles the $9,120 level (if it ends up above or below it).

BTC/USD 4-hour Chart

Technical factors:

Triangle Formation broken to the downside
Price is below its 21 and 50-period EMA
Price is on top of the Lower BB
RSI near the oversold territory
Elevated Volume

Key levels to the upside Key levels to the downside

1: $9,251 1: $9,120

2: $9,580 2: $8,980

3: $9,735 3: $8,820

Ethereum

Ethereum lost quite a bit of its value as well (in fact, even more than Bitcoin). The second-largest cryptocurrency by market cap dropped from the high of $250 all the way down to $227. It is currently trying to find a spot to consolidate at (the most probable consolidation price would be around $230). Ethereum is currently trading on elevated volume, with its RSI dropping to below-40 levels.

ETH/USD 4-hour Chart

Technical Factors:

Price below 21 and 50-period EMA
Price just above the Lower BB
RSI under the value of 40
Elevated Volume

Key levels to the upside Key levels to the downside

1: $240 1: $228

2: $251.4 2: $225.4

3: $260 3: $217.7

Ripple

Just taking a look at the XRP/USD chart, we can see that the third-largest cryptocurrency by market cap has an extremely bearish outlook. XRP followed the overall crypto market trend and dropped in price in the past 24 hours, therefore losing the opportunity to contest (and possibly pass) the $0.19 resistance level. However, XRP did not fall under its $0.178 resistance, as the buying pressure was strong enough to hold the bears. XRP is currently recuperating from the drop at the $0.18 level.

XRP/USD 4-hour Chart

Technical factors:

XRP in a mid-term descending trend
XRP lacks strong support levels below $0.178
Price is below its 21 and 50-period EMA
Price is on top of the Lower BB
RSI in the oversold territory
Elevated Volume

Key levels to the upside Key levels to the downside

1: $0.19 1: $0.178

2: $0.2 2: $0.147

3: $0.205

Tags bitcoin, BTC, Crypto, Crypto Trading, cryptocurrency, Daily Brief, ETH, Ethereum, Fundamental Analysis, Ripple, Technical Analysis, trading, XRP

Crypto Guides

What Should You Know About Cryptoeconomics?

Post author By Reddy Shyam Shankar
Post date 24 June, 2020
No Comments on What Should You Know About Cryptoeconomics?

Introduction

Cryptoeconomics is a gentle combination of both cryptography and economics, i.e. incentives, as the name suggests. Cryptoeconomics ensures the decentralized peer to peer (P2P) network is viable and dependable for the proposed transactions on a P2P network. A general misconception when people come across the word Cryptoeconomics is that it is a field in economics, but it isn’t true. The use of cryptography and economic incentives to run a decentralized network without malicious attacks as it isn’t governed by anyone is Cryptoeconomics.

Why Cryptoeconomics?

The P2P networks are not new with the invention of blockchain and cryptocurrencies in our lives. Torrents sites have been using decentralized P2P networks for decades to share files. The general principle is that whenever you download a file from torrents, you are supposed to seed a file which can be useful for anyone else to download. In general, that is how we are creating content in the torrents for others to download.

This is not hard and fast rule but depends on the honor code. Human Beings are, in general, not honorary; hence most of the people don’t even know that a file should be seeded in return for a download, and hence the system has been a big failure. Hence incentives have been introduced in the cryptocurrency platforms, including cryptographic has functions for security purposes.

How does it work?

Let us see how Cryptoeconomics work using the example of Bitcoin. In 2008 bitcoin white paper was released, showing a first-ever way to use Cryptoeconomics with a practical and live example by minting a bitcoin by January 2009. Not only does the incentive concept evolved, but Bitcoin successfully overcomes the concept of the Byzantine Generals problem to create a perfect consensus mechanism called Proof of Work. Let us see in detail how cryptography and economics play a role in the bitcoin platform.

Properties of Bitcoin that have come due to cryptographic hash functions

₿ Bitcoin works on blockchain technology, which is a continuous chain of blocks linked together with cryptographic hash functions.

₿ Each block contains a predefined number of transactions with a hash of all the transactions combined.

₿ The platform is immutable, i.e., already added, and sealed blocks are not subject to any change, but new blocks can be added.

₿ Only valid transactions are allowed and added to a block using a consensus mechanism; in the case of bitcoin, it is PoW.

₿ The blockchain is accessible by anyone in the world, as this is a permissionless system.

₿ If a high transaction fee is paid, the transaction can be verified and committed to the blockchain quickly. We had seen many examples in 2017 when the bitcoin price zoomed to be highest ever.

₿ It should be easy to retrieve information on any transaction confirmed in the blockchain. This is possible using the concept of the Merkle tree.

Some of the main functions which run the bitcoin blockchain platform are

Hashing
Digital Signatures
Mining
Proof of Work

Economics

As we discussed before, the fundamental difference between blockchain P2P networks and other P2P networks is the incentive model. For getting any work done, the work should be rewarded using appropriate incentives as motivation. At the same time, the tone should be punished if the work is not adequately done or done in a malicious way to create a loss in the network.

How are the participants rewarded in the network?

The participants are paid in native cryptocurrency of the network for actively participating in running the network and confirming the transactions as required.
The most recent winner of the block is incentivized with local cryptocurrency. Some privileges like what transactions should be added in the block and charge transaction fees to add the transaction in the block kind of decision-making rights are also given.
Simultaneously, wrong participants are fined, or their decision-making rights are snatched away as required.

Now a question might be raised like how does cryptocurrency have a value? The answer is simple: how a fiat currency or gold has value, supply, and demand. A whole lot of other factors like the network integrity, number of coins in circulation, is the network affected by a hack recently, history and purpose of the coin in the first place, and a lot of stuff. To determine all these parameters and how the miners maintain their integrity without being malicious is based on the concept of Game Theory and Nash Equilibrium, which we will be delving into in our further articles.

Tags bitcoin, Crypto, cryptocurrency, Cryptoeconomics, Cryptography, Economics, Education, Exchange, minting, P2P, Proof of work

Crypto Market Analysis

Daily Crypto Review, Jun 24 – Italy Ready For The Digital Euro; Ethereum Rushing Towards Next Resistance Level

Post author By Ilija Rankovic
Post date 24 June, 2020
No Comments on Daily Crypto Review, Jun 24 – Italy Ready For The Digital Euro; Ethereum Rushing Towards Next Resistance Level

The cryptocurrency market has spent the past 24 hours, either establishing its current levels or gaining a bit of value. Bitcoin is currently trading for $9,639, which represents an increase of 0.36% on the day. Meanwhile, Ethereum gained 2.69% on the day, while XRP gained 0.87%.

DxChain Token took the position of today’s biggest daily gainer, with gains of 21.87%. Compound lost 17.50% of its daily value, making it the biggest daily loser.

Bitcoin’s dominance level decreased slightly since we last reported, with its value currently at 65.11%. This value represents a 0.17% difference to the downside when compared to yesterday’s value.

The cryptocurrency market capitalization increased slightly when compared to yesterday, with the market’s current value being $275.85 billion. This value represents an increase of $2.66 billion when compared to the value it had yesterday.

What happened in the past 24 hours

Is Italy implementing a digital Euro?

The Italian Banking Association has announced its willingness to support the implementation of a digital Euro. The IBA had approved guidelines governing its position on the digital currency as well as central bank digital currencies in general.

The ABI announced that monetary stability, as well as respecting regulations related to a digital Euro, are two of its top priorities.

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

The largest crypto by market capitalization spent the past 24 hours mostly stabilizing around the $9,600 level after taking over the $9,580 resistance (now support) level. The support level got tested and held up a couple of times, confirming that Bitcoin will (for the time being) trade within a range bound by it as well as the $9,735 resistance level.

Bitcoin’s volume is slowly decreasing while its RSI level is reaching the value of 60.

Key levels to the upside Key levels to the downside

1: $9,735 1: $9,580

2: $9,870 2: $9,251

3: $10,010 3: $9,120

Ethereum

Unlike Bitcoin, Ethereum spent the day reaching for new highs and trying to get to the $251.4 resistance level. The second-largest cryptocurrency by market capitalization managed to increase its value by over 2% on the day. Its volume is, however, lowering, while its RSI level on the 4-hour chart crossed into overbought territory. This might indicate a pause in the bullish move until Ethereum gathers enough strength to attempt a breakthrough the $251.4 resistance.

Key levels to the upside Key levels to the downside

1: $251.4 1: $240

2: $260 2: $228

3: $225.4

Ripple

While XRP did not gain much percentage-wise, its move towards the upside is an extremely important one. The third-largest cryptocurrency by market cap is trying to get back above the $0.19 level, which will determine its position in the short-term. While the move initially moved above the resistance, XRP’s RSI is approaching overbought, while its volume is decreasing, signifying exhaustion.

Key levels to the upside Key levels to the downside

1: $0.19 1: $0.178

2: $0.2

3: $0.205

Tags bitcoin, BTC, Crypto, Crypto Trading, cryptocurrency, Daily Brief, ETH, Ethereum, Fundamental Analysis, Ripple, Technical Analysis, trading, XRP

Crypto Market Analysis

Daily Crypto Review, Jun 23 – Bitcoin Logo and Name Trademarked. Defender of Bitcoin or Just Another Scammer?

Post author By Ilija Rankovic
Post date 23 June, 2020
No Comments on Daily Crypto Review, Jun 23 – Bitcoin Logo and Name Trademarked. Defender of Bitcoin or Just Another Scammer?

The crypto market has spent the past 24 hours testing (and surpassing) its immediate resistance levels. Bitcoin is currently trading for $9,605, which represents an increase of 2.21% on the day. Meanwhile, Ethereum gained 3.06% on the day, while XRP gained 0.06%.

DigiByte took the position of today’s biggest daily gainer, with gains of 24.92%. Flexacoin lost 15.62% of its daily value, making it the biggest daily loser.

Bitcoin’s dominance level stayed at the same place since our last report, with its value currently at 65.28%. This value represents a 0.05% difference to the upside when compared to yesterday’s value.

The cryptocurrency market capitalization increased when compared to yesterday, with the market’s current value being $273.19 billion. This value represents an increase of $7 billion when compared to the value it had yesterday.

What happened in the past 24 hours

Bitcoin defender or a scammer? Bitcoin name logo trademarked

The Bitcoin name and logo have been trademarked in Spain by Ignacio Rubio Menéndez, a compliance expert and lawyer. He explained that he now owns the logo and the word ‘bitcoin’ that is registered at the national level. When asked why he bothered with doing this, he explained that he wants to protect Bitcoin, at least in Spain. He claims he will stand up to anyone that will try to abuse the logo or the name of the cryptocurrency he bases his business on.

Whether he will use his (now) right justly or abuse it, only time will tell.

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

The largest crypto by market capitalization spent the past 24 hours testing its immediate resistance level of $9,580. In fact, there was no actual “testing,” as Bitcoin skyrocketed and went past the resistance level in an instant. The move passed through $9,735 as well, but quickly came back below it. Bitcoin is now trying to find a price to consolidate at, and it will most likely test $9,580 as a support level.

Key levels to the upside Key levels to the downside

1: $9,735 1: $9,580

2: $9,870 2: $9,251

3: $10,010 3: $9,120

Ethereum

Ethereum followed in the footsteps of Bitcoin and used the momentum it created to push its price past the $240 level. On top of that, the price gain it made surpassed Bitcoin by half a percent. The second-largest cryptocurrency by market cap stopped its bullish move at around $247 and then started consolidating slightly below that price. The $240 level will be tested in the near future, so traders can expect a solid and easy trade, in whichever direction ETH goes.

Key levels to the upside Key levels to the downside

1: $251.4 1: $240

2: $260 2: $228

3: $225.4

Ripple

Unlike Bitcoin and Ethereum, XRP did not have such a good day. While the price technically did end up in the green when compared to 24 hours ago, the price gain is negligible. The third-largest cryptocurrency by market cap didn’t have enough buying pressure to pass the $0.19 resistance level it fell under a couple of days ago.

XRP’s volume is extremely low, meaning that traders don’t really have many opportunities to trade it.

Key levels to the upside Key levels to the downside

1: $0.19 1: $0.178

2: $0.2

3: $0.205

Tags bitcoin, BTC, Crypto, Crypto Trading, cryptocurrency, Daily Brief, ETH, Ethereum, Fundamental Analysis, Ripple, Technical Analysis, trading, XRP

Crypto Market Analysis

Daily Crypto Review, Jun 22 – COVID-19 Test Results Stored on the Blockchain; Ethereum Chasing $240

Post author By Ilija Rankovic
Post date 22 June, 2020
No Comments on Daily Crypto Review, Jun 22 – COVID-19 Test Results Stored on the Blockchain; Ethereum Chasing $240

The crypto market has spent the past weekend being quite stable. Bitcoin is currently trading for $9,351, which represents a decrease of 0.08% on the day. Meanwhile, Ethereum gained 1.25% on the day, while XRP lost 0.08%.

Compound took the position of today’s biggest daily gainer, with gains of 14.26%. Golem lost 9.21% of its daily value, making it the biggest daily loser.

Bitcoin’s dominance level stayed at the same place since our last report, with its value currently at 65.23%. This value represents a 0.04% difference to the downside when compared to yesterday’s value.

The cryptocurrency market capitalization stayed at almost the same place as yesterday, with the market’s current value being $266.19 billion. This value represents a decrease of $1.78 billion when compared to the value it had yesterday.

What happened in the past 24 hours

COVID-19 testing on blockchain

Blockchain tracking platform called VeChain made a Twitter announcement on June 20, saying that its blockchain-based platform that performs medical data management has gone live, and that it will store COVID-19 testing results. The platform, called E-NewHealthLife, was deployed in and for the Mediterranean Hospital in the Republic of Cyprus.

Cyprus citizens who go to this hospital’s COVID-19 laboratory will have their medical as well as test records on the blockchain.

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

The largest crypto by market capitalization spent the weekend moving within a range, bound by the support level of $9,251 and the resistance level of $9,580. The support level was tested a couple of times over the weekend, but there was no real initiative in breaking it to the downside.

Bitcoin’s volume is slowing down and reducing while its RSI level is rising slightly (52).

Key levels to the upside Key levels to the downside

1: $9,580 1: $9,251

2: $9,735 2: $9,120

3: $9,870 3: $8,980

Ethereum

Unlike Bitcoin, Ethereum wasn’t so static over the weekend. While the second-largest cryptocurrency did start the weekend slowly, the most recent volume increase and price spike show its potential to possibly approach the $240 level. However, it is unlikely that Ethereum will pass the level by itself (without the help of Bitcoin), so traders can watch what Bitcoin does and trade accordingly.

Key levels to the upside Key levels to the downside

1: $240 1: $228

2: $251.4 2: $225.4

3: $198 3: $217.6

Ripple

The third-largest cryptocurrency by market cap has broken its immediate support level of $0.19 on Friday, and has maintained its position over the weekend. Even though XRP managed to gain some value in the past hours, it is still extremely unlikely that it will go above the $0.19 resistance level.

XRP’s volume is extremely low, while its RSI level increased to 48.

Key levels to the upside Key levels to the downside

1: $0.19 1: $0.178

2: $0.2

3: $0.205

Tags bitcoin, BTC, Crypto, Crypto Trading, cryptocurrency, Daily Brief, ETH, Ethereum, Fundamental Analysis, Ripple, Technical Analysis, trading, XRP

Crypto Market Analysis

Daily Crypto Review, Jun 19 – Bitcoin Mid-Term Bullish vs. Bearish Outlook – Explained

Post author By Ilija Rankovic
Post date 19 June, 2020
No Comments on Daily Crypto Review, Jun 19 – Bitcoin Mid-Term Bullish vs. Bearish Outlook – Explained

The crypto market has spent the past 24 hours being on a slow downward-facing path. Bitcoin is currently trading for $9,336, which represents a decrease of 0.69% on the day. Meanwhile, Ethereum lost 1.46% on the day, while XRP lost 1.37%.

Aave took the position of today’s biggest daily gainer, with gains of 26.09%. SwissBorg lost 16.61% of its daily value, making it the biggest daily loser.

Bitcoin’s dominance level stayed at the same place since our last report, with its value currently at 65.27%. This value represents a 0.01% difference to the downside when compared to yesterday’s value.

What happened in the past 24 hours

Russia lifting ban on Telegram

After many years of unsuccessful efforts to ban Telegram in Russia, the local authorities have finally decided to fully cancel the ban. Russia’s Federal Service for Supervision of Communications, IT, and Mass Media, better-known as Roskomnadzor, has lifted the two-year-long ban imposed on Telegram.

The authority has removed requirements that restrict the access to the Telegram messenger in an agreement with the Prosecutor General of Russia.

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

The largest crypto by market capitalization spent the past 24 hours slowly moving towards the downside, ultimately testing its support level of $9,251. The bullish trend that Bitcoin was in (on the 1-day chart) was broken to the downside with the most recent Bitcoin drop. In order for BTC movements to still be considered bullish in the long run, its price needs to be above 9,120 on June 30. On the other hand, even though the outlook is not exactly bullish at the moment, Bitcoin seems to have some good support in its $9,251 level as well as the 1-day 50-period moving average.

If, on the other hand, Bitcoin makes a higher high at above $10,500, bull run will be almost certain, and people should consider pulling more of their portfolio into crypto.

Key levels to the upside Key levels to the downside

1: $9,580 1: $9,251

2: $9,735 2: $9,120

3: $9,870 3: $8,980

Ethereum

Ethereum keeps creating lower highs and slowly moving lower throughout the day. The second-largest cryptocurrency by market cap is on its way to test the $228 once again. As this support level is a new one, it might not hold as well, and the price is likely to fall towards $225.4 level.

Ethereum’s long-term outlook will greatly depend on how Bitcoin moves, so there is no reason to discuss it at the moment.

Key levels to the upside Key levels to the downside

1: $240 1: $228

2: $251.4 2: $225.4

3: $198 3: $217.6

Ripple

XRP has also spent the day slowly moving to the downside, but with one major difference. The third-largest cryptocurrency by market cap has, unlike Bitcoin and Ethereum, broken its immediate support level. While the $0.19 support level isn’t completely beaten and there is still time for the price to recover, it is likely that the price will remain below it due to the lack of volume and initiative when it comes to either buying or selling XRP at the moment.

Key levels to the upside Key levels to the downside

1: $0.2 1: $0.19

2: $0.205 2: $0.178

3: $0.214

Tags bitcoin, BTC, Crypto, Crypto Trading, cryptocurrency, Daily Brief, ETH, Ethereum, Fundamental Analysis, Ripple, Technical Analysis, trading, XRP

Crypto Market Analysis

Daily Crypto Review, Jun 18 – Binance Pool the Biggest Miner of Craig Wright’s Bitcoin SV – What’s Actually Happening?

The crypto market has spent the past 24 hours testing its support levels after failing to break the resistance levels during yesterday’s price increase. Bitcoin is currently trading for $9,412, which represents a decrease of 0.62% on the day. Meanwhile, Ethereum lost 0.71% on the day, while XRP lost 1.37%.

SwissBorg took the position of today’s biggest daily gainer, with gains of 31.95%. DigiByte lost 7.95% of its daily value, making it the most prominent daily loser.

Bitcoin’s dominance stayed at the same place since our last report, with its value currently at 65.28%. This value represents a 0.04% difference to the downside when compared to yesterday’s value.

The cryptocurrency market capitalization stayed at the same place as yesterday, with the market’s current value being $267.97 billion. This value represents a decrease of $0.02 billion when compared to the value it had yesterday.

What happened in the past 24 hours

Binance Pool mining the most Bitcoin SV – Why?

Only a year after removing Bitcoin SV from its exchange, news came out that Binance (through its Binance Pool) produces more Bitcoin SV blocks through mining than any other pool. Many people would jump to the conclusion that Binance knows something we don’t, but that really isn’t the case.

Even though Binance Pool is undoubtedly the largest miner of Bitcoin Satoshi’s Vision blocks at the moment (with 26.39% of total Bitcoin SV mining on June 17), it is not Binance who is mining them, but rather the users of the Pool. However, Binance is profiting from the mining operations by imposing a 2.5% pool fee. That being said, it is highly unlikely that Binance will return Bitcoin SV to its exchange, or that its stance on the controversial coin changed.

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

The largest cryptocurrency by market capitalization spent the past 24 hours testing its support levels, right after failing to break the $9,580 resistance. While the $9,251 level showed strength, bouncing the price back immediately, Bitcoin is still moving down slightly. If nothing changes in terms of volume and market sentiment in general, Bitcoin might have another go at testing this support level.

Bitcoin’s volume has decreased slightly when compared to the previous days, while its RSI level is at 50.

Key levels to the upside Key levels to the downside

1: $9,580 1: $9,251

2: $9,735 2: $9,120

3: $9,870 3: $8,980

Ethereum

Ethereum made the same move as Bitcoin and had no initiative when it came to a non-correlated movement today. After failing to reach its resistance level of $240, ETH started moving towards the downside. It, however, got stopped by the (possibly) new support level of $228, bouncing the price slightly up towards $235. The price stopped after reaching $235 and started moving sideways, possibly threatening the downside once again.

Key levels to the upside Key levels to the downside

1: $240 1: $228

2: $251.4 2: $225.4

3: $198 3: $217.6

Ripple

XRP had a slightly different movement when compared to BTC and ETH, but with the same sentiment. The third-largest cryptocurrency by market cap failed to reach $0.2 successfully, therefore making the possibility of breaking the resistance almost none-existent in the short-term. This triggered the bears to test the support level of $0.19, which (after some fighting) managed to hold its position. XRP is now trading just above the support line, preparing for the next move.

Key levels to the upside Key levels to the downside

1: $0.2 1: $0.19

2: $0.205 2: $0.178

3: $0.214

Tags bitcoin, BTC, Crypto, Crypto Trading, cryptocurrency, Daily Brief, ETH, Ethereum, Fundamental Analysis, Ripple, Technical Analysis, trading, XRP

Crypto Market Analysis

Daily Crypto Review, Jun 17 – Craig Wright Called a Thief or a Fraud by the Ex CEO of Mt. Gox

Post author By Ilija Rankovic
Post date 17 June, 2020
No Comments on Daily Crypto Review, Jun 17 – Craig Wright Called a Thief or a Fraud by the Ex CEO of Mt. Gox

The crypto market has taken its time to consolidate throughout the day, as well as possibly test nearest resistance levels. Bitcoin is currently trading for $9,447, which represents an increase of 0.56% on the day. Meanwhile, Ethereum gained 1.6% on the day, while XRP lost 0.07%.

SwissBorg took the position of today’s biggest daily gainer, with gains of 30.87%. DigiByte lost 6.96% of its daily value, making it the most prominent daily loser.

Bitcoin’s dominance stayed at the same place since we last reported, with its value currently at 65.32%. This value represents a 0.2% difference to the downside when compared to yesterday’s value.

The cryptocurrency market capitalization increased over the course of the day, with the market’s current value being $267.99 billion. This value represents an increase of $2.35 billion when compared to the value it had yesterday.

What happened in the past 24 hours

Craig Wright called a liar or a thief by Mark Karpeles

Former CEO of Mt. Gox Mark Karpeles claims that the 80,000 Bitcoin that Dr. Craig Wright lays claim to was actually stolen from the Mt. Gox exchange in March 2011. This claim isn’t just empty words, as cryptocurrency experts side with Karpeles. The Bitcoin residing at one of the addresses that Craig Wright listed among the numerous addresses he supposedly owns was stolen from Mt. Gox.

Karpeles said, “This was confirmed in 2011, and records are a part of court documents available publicly.”

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

The largest cryptocurrency by market capitalization spent the past 24 hours trying to consolidate above $9,251 as well as to test the $9,580 resistance level for a brief amount of time. The resistance was strong, and Bitcoin couldn’t break it, which continued its consolidation within a range bound by $9,251 and $9,580.

Bitcoin’s volume decreased after the recovery bull run ended, while its RSI level currently stagnates at around 51.

Key levels to the upside Key levels to the downside

1: $9,580 1: $9,251

2: $9,735 2: $9,120

3: $9,870 3: $8,980

Ethereum

Ethereum seems to have had a solid day, not only recovering from the plunge but slowly rising in price as well. However, the most recent sentiment shows that bears are testing how far they can go. Whether bears manage to drive ETH’s price down a bit or not, there’s still a long way until the $225.4 support level.

Ethereum’s volume lower and lower as the time passes, while its RSI level hovers below the value of 50.

Key levels to the upside Key levels to the downside

1: $240 1: $225.4

2: $251.4 2: $217.6

3: $198

Ripple

XRP had a decent day as well, as the price drop ended after the price hit the red descending line and bounced from it. The third-largest cryptocurrency by market cap managed to get back above $0.19 (which is, as we mentioned yesterday, a big deal for XRP) and consolidate above it. The line got tested once, without much success for the bears.

XRP’s volume is a bit below the weekly average (after excluding the volume bumps for upward and downward spikes), while its RSI level is just below 50.

Key levels to the upside Key levels to the downside

1: $0.2 1: $0.19

2: $0.205 2: $0.178

3: $0.214

Tags bitcoin, BTC, Crypto, Crypto Trading, cryptocurrency, Daily Brief, ETH, Ethereum, Fundamental Analysis, Ripple, Technical Analysis, trading, XRP

Crypto Market Analysis

Daily Crypto Review, Jun 16 – BTC Whale Count Back To Dec 2017 Levels; BTC Back Above $9,000

Post author By Ilija Rankovic
Post date 16 June, 2020
No Comments on Daily Crypto Review, Jun 16 – BTC Whale Count Back To Dec 2017 Levels; BTC Back Above $9,000

The crypto market has taken the day to restore its price level to the pre-drop of June 15. Bitcoin is currently trading for $9,386, which represents an increase of 1.46% on the day. Meanwhile, Ethereum lost 0.05% on the day, while XRP gained 1.85%.

Verge took the position of today’s biggest daily gainer, with gains of 21.03%. Flexacoin lost 13.05% of its daily value, making it the most prominent daily loser.

Bitcoin’s dominance stayed at exactly the same place since we last reported, with its value currently at 65.52%. This value represents a 0% difference when compared to yesterday’s value.

The cryptocurrency market capitalization increased over the course of the day, with the market’s current value being $265.64 billion. This value represents an increase of $11.37 billion when compared to the value it had yesterday.

What happened in the past 24 hours

Bitcoin whales returning to pre-December 2017 pump levels

The number of investors that are holding an immense amount of Bitcoin (otherwise known as Bitcoin whales) is starting to approach the level that the crypto community hadn’t seen since the 2017 levels when Bitcoin rallied to $20,000.

According to Glassnode’s report dating June 15, we can see steady growth in the number of Bitcoin whales (traders holding over 1000 BTC) since April 2019.

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

The largest cryptocurrency by market capitalization managed to return to its pre-price drop level, reaching back above $9,000. Bitcoin has skipped the $9,120 and $9,251 levels as well, currently stabilizing between $9,251 and $9,580.

Bitcoin’s volume increased during the rally but returned to the previous levels, while the RSI level increased to 50.

Key levels to the upside Key levels to the downside

1: $9,580 1: $9,120

2: $9,735 2: $9,251

3: $9,870 3: $8,980

Ethereum

Ethereum also had a correction over the day, bouncing above the $225.4 and trying to consolidate. However, the price action looks like the $225.4 level will be tested to the downside. If it stays strong, traders will have a chance to possibly enter a strong position towards the upside from there.

Ethereum’s volume increased both during the price spike as well as in general. Its RSI level is currently at 43.5.

Key levels to the upside Key levels to the downside

1: $240 1: $225.4

2: $251.4 2: $217.6

3: $198

Ripple

XRP moved back above the $0.19 during the day, which represents a great bullish sign for it. Unlike with Bitcoin and Ethereum, XRP doesn’t have many support levels below $0.178, and dropping below it would be extremely bearish. However, the recent price increase returned XRP’s price to pre-price drop levels.

XRP’s volume returned to average after a slight increase due to the price increase, while its RSI level came to 50.

Key levels to the upside Key levels to the downside

1: $0.2 1: $0.19

2: $0.205 2: $0.178

3: $0.214

Tags bitcoin, BTC, Crypto, Crypto Trading, cryptocurrency, Daily Brief, ETH, Ethereum, Fundamental Analysis, Ripple, Technical Analysis, trading, XRP

Cryptocurrencies

Electroneum – “The World’s First Common Cryptocurrency”

Post author By Edith M.
Post date 15 June, 2020
No Comments on Electroneum – “The World’s First Common Cryptocurrency”

Some of the buzz around cryptocurrency is for it being a currency that wrests back the power of money from governments and centralized bodies and hands it back to the people. But it’s not as simple as it sounds.

Satoshi Nakamoto, the creator of Bitcoin, intended for anybody to be able to mine bitcoin from the comfort of their computer. But as the crypto increased in popularity and thousands more flooded the scene, it became harder to do so.

Electroneum is a crypto and blockchain project that hopes to revive the original dream of cryptocurrency – making the revolutionary power of blockchain accessible to anyone anywhere. As long as you have a smartphone and internet connectivity, you can start mining Electroneum coins right in your phone.

This has not gone unnoticed by the “founding father of blockchain” – Scott Stornetta – the most quoted person in Satoshi’s Bitcoin whitepaper. He has described the project as having “a long-term goal that is more than profit-maximizing, but that is actually a collective better” while praising it for being a real solution to “people that have yet to experience the benefits of cryptocurrency.”

This article is an in-depth exploration of this groundbreaking cryptocurrency.

What is Electroneum?

Electroneum is a mobile-oriented cryptocurrency designed for mass adoption, and one of the few to emerge out of the UK. The Electroneum team believes cryptocurrency is a great idea, but the actual acquiring of it is incredibly hard. As such, they want to enable cryptocurrency to be accessible to the average person with as little hassle as possible.

A lot of people want to possess cryptocurrency, but they are not exactly ecstatic about surrendering their personal information to some random websites they know next to nothing about. There’s also the issue of having to link to the bank account and having to shell out extremely high fees for transactions. In short, Electroneum wants to break down the barriers that countless people encounter while trying to access cryptocurrency.

In its words: “Current cryptocurrencies are new (relatively!) and exciting but beyond the reach of your everyday person. To access cryptocurrencies, you have to make or buy a GPU mining rig or send copies of your passport and personal documents to a website that you have probably never heard of. Electroneum has all the great security and anonymity of leading crypto coins, but it’s controlled by a free, easy to install, app, which gives instant access to Electroneum with no card details or ID.”

History of Electroneum

Electroneum was conceived by Richard Ells, whose interest in cryptocurrency started in 2015 while he was building GPU mining rigs. While Bitcoin was not even yet profitable, Ells knew that the underlying technology was transformative, and he wanted to make it easy for more people to benefit from it.

In August 2015, he enlisted members of his Retortal company to start working on a cryptocurrency. In July 2017, Ells raised the necessary initial capital to launch the cryptocurrency. These efforts led to the creation of Electroneum Ltd in July 2017. In September 2017, Electroneum conducted an ICO – which drew in 115k+ investors. In the end, the sale raised $40 million worth of Bitcoin and Ethereum.

How Does Electroneum Work?

Private Transactions

Electroneum (ETN) is built off the code for Monero, a privacy-oriented cryptocurrency. Like Monero, Electroneum also has privacy features. One of the criticisms with Bitcoin is its totally transparent transactions whose public addresses can be used to track down the real-life identity of a transacting party. Electroneum solves this with the use of stealth addresses and a one-time public key that prevents any connection between the funds and the wallet.

As well, a one-time private key is created once funds are detected and received by the wallet. The use of stealth addresses means that only the recipient can spend the funds with the single-use private spent key.

Mobile App

The use of a mobile app to get more people to use the currency is one of Electroneum’s biggest differentiator from other cryptocurrencies. The app is currently available for Android and iOS. The app allows you to have access to a wallet where you can store as well as be able to send and receive coins. As a further security measure, you also have the option to generate a paper wallet. At the time of writing, the app has been downloaded 2, 555, 518 times, according to Electroneum’s website.

Mobile Mining

Through the app, users can also generate new Electroneum coins. Once you install the app, it will allow your phone to start simulated mining. And this will happen without your phone overheating or gobbling up huge amounts of data. It also won’t make your phone lose significant battery life. Though the mining will not add new blocks on the blockchain, you’ll still be up for mining rewards for contributing to the computing power of the network.

Online Gaming

Another of Electroneum’s goals is to replace in-game currencies, such as Linden Dollars for the Second Game, Project Entropia Dollars for Entropia Universe, or WoW gold for the World of Warcraft, with ETN.

This would change the gaming landscape in several good ways. For instance, players would have an even better reason to play, thanks to the ability to actually cash out on their completed quests and sold items. Gaming platforms could also gain from the transactions that are taking place in its ecosystem. Also, for gaming companies, using ETN as the in-game currency would be a marketing tool on its own.

Gambling

Again, the Electroneum team hopes to promote the adoption of ETN in gambling. While many sites are accepting Bitcoin and other cryptos, it’s still a complicated and time-consuming process to obtain it. In the majority of countries where gambling takes place, local exchanges charge exorbitant fees. Electroneum wants to make it easy for players and gambling platforms to interact with cryptocurrency in a more frictionless fashion.

The Electroneum Team

The Electroneum team is led by founder and CEO Richard Ells. Else is the founder of two other successful digital companies; SiteWizard and Retortal.

Nick Cook is the head of operations. Cook has more than 20 years working for automobile companies such as Aston Martin, Bentley, and Land Rover.

Barry Last is the head of tech development. He has 15 years of experience as a solutions architect.

The team has also onboarded David Bull, CEO of UNICEF UK. Bull has 32 years in the charity sector. Bull’s experience is fitting with Electroneum’s mission to bring cryptocurrency to the people.

Coin Supply

During the ICO, 4.4 billion of ETN went to investors. Another 20 million went to individuals who shared news about the ICO and explained things to the crypto community. A further 20 million went to the project’s core team. Currently, the coin has a circulating supply of 10 billion out of the maximum supply of 21 billion.

The supply of 21 billion coins was done for psychological reasons. The team figured that it would be more satisfying for users to generate full coins as opposed to decimal points associated with other cryptos such as Bitcoin.

Tokenomics of ETN

As of May 30, 2020, ETN traded at $0.009053, while ranking at #67 and with a market cap of $91, 587, 678. The coin has a 24-hour volume of $1, 015, 774, a circulating supply of 10, 116, 967, 882, a total supply of the same value, and a maximum supply of 21, 000, 000, 000. ETN’s all-time high was $.0 236234 (Nov 02, 2017) while it’s all-time low was 0.001428 (March 13, 2020).

Where to Buy and Store Electroneum

If mining the coin is not exactly your speed, you can grab it from an exchange. Some of the popular exchanges offering ETN include TraderONE, KuCoin, Liquid, Coin Bene, Biki, Huobi, SistemKoin, HitBtc, bitbns, Coin Deal, Trade Ogre, Simple Swap, and more.

For storage, Electroneum strongly recommends keeping your ETN in its app wallet or its generatable paper wallet. At this time, the crypto is most compatible with user favorites Trezor and Ledger.

Final Words

Electroneum is a bold leap towards mass accessibility of cryptocurrencies. It’s truly a way for more people to access, interact, and benefit from the technology – and all in a safe and hassle-free way. People who are fans of blockchain and crypto but feel it’s too complicated or not for them can start seeing it in a better way. Electroneum is an exciting and promising project and one that the crypto community will be watching closely.

Tags Crypto, cryptocurrencies, cryptocurrency, Education, Electroneum, ETN

Crypto Market Analysis

Daily Crypto Review, Jun 15 – Bitcoin Under $9,000; What Happens Next?

Post author By Ilija Rankovic
Post date 15 June, 2020
No Comments on Daily Crypto Review, Jun 15 – Bitcoin Under $9,000; What Happens Next?

The crypto market has been relatively stable over the weekend only to drop in the past couple of hours. Bitcoin fell under $9,000, which brought other cryptos’ prices down. Bitcoin is currently trading for $8,962, which represents a decrease of 4.47% on the day. Meanwhile, Ethereum lost 6.13% on the day, while XRP lost 4.34%.

Flexacoin took the position of today’s biggest daily gainer, with gains of 18.57%. Loopring lost 17.68% of its daily value, making it the most prominent daily loser.

Bitcoin’s dominance stayed at the same place since we last reported, with its value currently at 65.52%. This value represents a 0.24% difference to the upside when compared to Friday’s value.

The cryptocurrency market capitalization decreased over the course of the weekend, with the market’s current value being $254.27 billion. This value represents a decrease of $10.24 billion when compared to the value it had on Friday.

What happened in the past 24 hours

Bitcoin transaction fee average decreased by 91%

The average fee for Bitcoin transactions has dropped under the $1 mark, meaning it is back to levels previously seen only before the Bitcoin reward halving.

According to data shown by the crypto analytics website BitInfoCharts, Bitcoin transaction fees decreased by 91% from May 20 until June 14. With the fees going down from $6.65 to $0.56, we can certainly see the improvement in the tx fee department of Bitcoin.

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Technical analysis

_______________________________________________________________________

Bitcoin

The largest cryptocurrency by market capitalization had a slow weekend of consolidation after the 11 June price drop. While many analysts were suggesting a bull run, Bitcoin dropped in price yet again, this time below $9,000. The move reached $8,900 before stabilizing between $9,980 and $9,120 level.

Bitcoin’s volume seems to be following a pattern of decreasing its volume from day to day until a spike happens, which brings its volume up.

Key levels to the upside Key levels to the downside

1: $9,120 1: $8,980

2: $9,251 2: $8,820

3: $9,580 3: $8,650

Ethereum

Ethereum has been pretty stable over the weekend and had low volatility as well as volume. Bitcoin’s move towards the downside dragged it down as well, pulling the price down to $217 levels. The $217.6 level held greatly, stopping the bearish move in its tracks.

Ethereum’s volume increased from almost non-existent to almost the levels of the June 11 price drop.

Key levels to the upside Key levels to the downside

1: $225.4 1: $217.6

2: $240 2: $198

3: $251.4 3: $193.6

Ripple

XRP spent the weekend performing slightly worse than the aforementioned Ethereum and Bitcoin, slowly losing value as it went towards the $0.19 level. However, the most recent price drop brought its price to $0.182 levels, where it was stopped by the long-term descending trend line.

XRP’s volume increased slightly as the bearish move occurred, while its RSI level entered the oversold territory.

Key levels to the upside Key levels to the downside

1: $0.19 1: $0.178

2: $0.2

3: $0.205

Tags bitcoin, BTC, Crypto, Crypto Trading, cryptocurrency, Daily Brief, ETH, Ethereum, Fundamental Analysis, Ripple, Technical Analysis, trading, XRP

Cryptocurrencies

VeChain Blockchain Review: What is VeChain, Where to Buy, and How Does it Work?

Post author By Edith M.
Post date 13 June, 2020
No Comments on VeChain Blockchain Review: What is VeChain, Where to Buy, and How Does it Work?

Most cryptocurrency projects come with a lot of pomp, revolutionary white papers, and a ton of promises about changing the industry. But if you’ve been in the crypto world long enough, you’ve probably realized that a majority of these crypto projects don’t live long enough to actualize these promises. Most of these fade away because their value proposition was not strong enough to weather the competition. There, nonetheless, have been several crypto projects that dazzled us with their ambition and went on to actualize their product.

VeChain is one such project. VeChain was one of the earliest blockchain industry players. It not only has a substantial customer base but has also inked several lucrative deals with several big-name brands that align with its growth and expansion plans. Headquartered in Singapore, the project has also branched out into China, France, the US, Hong Kong, and Japan.

This VeChain review explores what you need to know about VeChain: its product, team, working model, tokens, and everything in between.

What’s VeChain?

VeChain is a blockchain platform that seeks to inject more transparency, efficiency, and speed into supply chains. As stated in the VeChain white paper, its goal is “to build a trust-free and distributed business ecosystem platform to enable transparent information flow, efficient collaborations, and high-speed value transfers.”

The current supply chain data management process is done in silos when various departments are unable to share information for speedy and informed decision-making. Yet, effective data sharing processes are the lifeblood of any business. Impaired information-sharing interferes with innovation, leads to weak collaboration, reduces supply visibility, and undermines a business’s potential.

VeChain believes blockchain can end the “asymmetric information problem and allow ownership of data to return to and empower its owner.” It proposes to enable utter transparency in business processes such as storage, transport, and supply.

For instance, the platform can help to monitor quality, source, mode of transportation, and the authenticity of a bottle of wine right from the manufacturer to the end-user (customer). It can also help automobile owners regain control over their data and use it to negotiate for better and fairer insurance policies.

History of VeChain

VeChain was launched in 2015 by Sunny Lu, former Chief Information Officer of Louis Vuitton China. It began as a subsidiary of Bitse, Shanghai-based blockchain company. The VeChain product is being used across real industries, unlike many crypto projects that are still stuck in the development (beta) phase. From fashion to agriculture, to wine, to food safety, to carbon emission reduction, to governments, VeChain’s blockchain technology has already found multiple use cases.

The VeChain network was formerly hosted on the Ethereum blockchain. In 2018, it launched its mainnet and rebranded into ‘VeChainThor’ (VET) blockchain.

VeChain has notably secured strategic partnerships in a bid to realize its goals of disrupting the current supply chain. VeChain also aspires to be a decentralized applications (DApps) and initial coin offerings (ICO) destination. To achieve this, VeChain has entered into business with several high-profile financial companies like PricewaterhouseCoopers (PwC), Chinese electronics company Jiangsu Electronics, and automobile company Renault.

VeChain’s Team

Sunny Lu is the leader of the team. Lu has been the lead of IT and information system departments for various companies, including Louis Vuitton China.

Other team leaders include Chief Financial Officer Jie Zhang, who has a wealth of history in IT, as well as the founder of Bo Shen, founder of Chinese venture capital company Fenbushi Capital.

VeChain’s VET and VTHO

VeChainThor blockchain features two tokens that are “the blood” of the VeChain body: VET and VTHO. VET is used by companies to facilitate “smart contracts.” It is also available to the public as a store of value and for speculative investment.

Here, owning more VET grants a company more rights on the VET blockchain.

The VTHO token – VeChainThor Energy in full and also known as VeThor Energy, is much like gas for Ethereum or NEO blockchains. It is used to power transactions on VeChain and as payment for running applications.

According to VeChain’s white paper, the two-token system is designed to achieve effective governance and to provide a simplified economic model for developers.

Proof of Authority

The VET blockchain utilizes Proof of Authority to achieve consensus. According to this protocol, voting rights are granted based on one’s stake in VET and disclosure of identity. VET holders without Know Your Customer (KYC) info are, for instance, assigned 20% while holders with KYC with the same amount of tokens are allocated 30% voting rights.

101 ‘Masternodes’ are tasked with the responsibility of reaching a consensus about the validity of transactions within the VeChain blockchain. This mechanism is different from Bitcoin’s blockchain – in which all nodes in the network must approve a transaction before a consensus is achieved.

On VeChain, anonymous nodes cannot take part in transactions’ validation, and disclosure of one’s real identity is a precondition for becoming an Authority Masternode. VeChain states that this system consumes far less energy compared to Blockchain 1.0.

There also are economic masternodes within the VeChain blockchain. These nodes do not approve transactions or blockchain entries. Instead, they serve as a check on the power of voters. Here, power is allocated by granting a specific number of votes to each economic masternode based on the size of VET staked where 10,000 VET = 1 single vote.

This voting rights distribution mechanism centralizes what should be a completely democratic and decentralized system. VeChain acknowledges this, arguing that the protocol is meant to strike a balance between centralization and decentralization.

The VeChain Foundation

Launched in 2017, VeChain Foundation is a centralized organization by the VeChain community that’s responsible for “developing and maintaining the VeChainThor Blockchain, community building, and management, business engagement, technical research, and design.” According to VeChain’s whitepaper, the foundation is responsible for “organizing and representing the entire VeChain community and for setting up the Steering Committee with seven seats, which could expand depending on the stage of development, to lead the core team of VeChain.”

Tokenomics of VET

On May 30, 2020, VeChain was trading at $0.005620, at position #31 and with a market cap of $311, 667, 818. Its 24-hour volume was $186, 888, 250. VET has a circulating supply of 55, 454, 734, 800, with a total supply of 86, 712, 634, 466. The token’s all-time high was $0.019 775 (Sept 4, 2018) while its all-time low was $0. 0.001 678 (March 13, 2020).

Where to Buy VET

You can purchase VET from several exchanges, either directly with Fiat or in exchange for cryptos such as Bitcoin or Ethereum. Some popular exchanges include Gemini, Binance, Coinswitch, Huobi, KuCoin, Changelly, and Bitit.

You can store the VET tokens in the VeChainThor wallet that’s available on iOS and Android app. Other great options include Ledger, Nano, Guarda Wallet, and Atomic Wallet.

Final Words

VeChain is one of the most successful players in the blockchain space. It identified problems in the supply chain and proposed to solve them with blockchain-based solutions. Its partnerships with companies such as PwC, Renault, and Jiangsu will help expand and solidify its client base.

Tags Blockchain and supply chain, blockchain scalability, Crypto, cryptocurrencies, cryptocurrency, Education, VeChain, VeChainThor, VET, VTHO

Crypto Market Analysis

Daily Crypto Review, Jun 12 – BTC Plunging To Two-Week Lows; Binance Launching BTC Futures Contracts

Post author By Ilija Rankovic
Post date 12 June, 2020
No Comments on Daily Crypto Review, Jun 12 – BTC Plunging To Two-Week Lows; Binance Launching BTC Futures Contracts

The crypto market has plunged over the course of the day, bringing the overall crypto market to a two-week low point. Bitcoin is currently trading for $9,337, which represents a decrease of 5.51% on the day. Meanwhile, Ethereum lost 6% on the day, while XRP lost 5.61%.

DigiByte took the position of today’s biggest daily gainer, with gains of 5.14%. Loopring lost 20.86% of its daily value, making it the most prominent daily loser.

Bitcoin’s dominance stayed at the same place since we last reported, with its value currently at 65.28%. This value represents a 0.6% difference to the downside when compared to yesterday’s value.

The cryptocurrency market capitalization decreased greatly over the course of the day, with the market’s current value being $264.51 billion. This value represents a decrease of $16.72 billion when compared to the value it had yesterday.

What happened in the past 24 hours

500 Crypto Companies in Estonia losing their permits

Estonia is one of the European Union’s most crypto-friendly countries when it comes to regulation. However, due to the $220 billion scandal regarding money laundering through crypto, Estonia started cracking down on many licensed cryptocurrency companies. So far, over 500 companies have lost their permits.

Honorable Mention

Cryptocurrency exchange powerhouse Binance has just launched a new Bitcoin futures product. The launch came through despite institutional investors visibly showing uncertainty about the future of cryptocurrencies.

In a blog post that came directly from Binance on June 11, the company revealed its quarterly futures contracts product is going live. The first contracts will have a settlement due in September.

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

The largest cryptocurrency by market capitalization has spent the day plunging to its two-week lows, falling as low as $9,070. The $9,251 line has, however, held up, and BTC is now consolidating above it. The downward-facing move should be over for now as RSI stepped into oversold while the volume faded.

Bitcoin’s volume increased multiple-fold over the course of the price dump but has since returned to its average levels.

Key levels to the upside Key levels to the downside

1: $9,580 1: $9,251

2: $9,735 2: $9,120

3: $9,870 3: $8,980

Ethereum

Ethereum followed Bitcoin’s initiative to move towards the downside and fell as low as $225. However, the $225.4 support line held up and stopped the move from going any further. Ethereum has recovered slightly and is now trading at a $233 level.

Ethereum’s volume increased drastically during the peak of the move but has since returned to normal. Its RSI level has entered the oversold territory but has (again) returned above it once the pressure faded.

Key levels to the upside Key levels to the downside

1: $240 1: $225.4

2: $251.4 2: $217.6

3: $260 3: $198

Ripple

XRP did not stray away from other cryptocurrencies in terms of market direction. The third-largest cryptocurrency by market cap has broken the range it was trading in for a long time as it fell below the $0.2 support level. The downward-facing move reached $0.184 before going up. XRP is still trying to find equilibrium and a place to consolidate at, and it is still uncertain whether that will be above or below the $0.19 level.

Key levels to the upside Key levels to the downside

1: $0.2 1: $0.19

2: $0.205 2: $0.178

3: $0.214

Tags bitcoin, BTC, Crypto, Crypto Trading, cryptocurrency, Daily Brief, ETH, Ethereum, Fundamental Analysis, Ripple, Technical Analysis, trading, XRP

Forex Assets

XTZ/USD – Trading Costs Involved While Trading This Crypto-Fiat Pair

Post author By Reddy Shyam Shankar
Post date 11 June, 2020
No Comments on XTZ/USD – Trading Costs Involved While Trading This Crypto-Fiat Pair

Introduction

Tezos is a platform that supports the development of DApps and smart contracts. It was created by an ex-Morgan Stanley analyst Arthur Breitman who launched an Initial Coin Offering (ICO) in 2017, raising $232 million. The next year, Tezos launched its beta network in July.

Tezos works by giving incentives to users willing to participate in the development of its protocol. Note that the complete network is decentralized. Users cannot mine Tezos coins as it based on the Proof-of-stake mechanism, unlike the Proof-of-Work in Bitcoin blockchain. Tezos is powered with its own XTZ token, which is created through a process called “baking.”

Understanding XTZ/USD

The price of XTZ/USD depicts the value of the US Dollar equivalent to on Tezos. It is quoted as 1 XTZ per X USD. For example, if the XTZ/USD’s market price is 2.9157, then each XTZ will be worth 2.9157 US dollars.

XTZ/USD specifications

XTZ stands 11^th in terms of market capitalization on CoinMarketCap. Forex brokers typically allow trading of only the top 3 or top 5 for trading. So, most brokers do have XTZ enabled for trading. Thus, you will have to approach a cryptocurrency broker instead. They work quite differently from that of the forex broker. For example, instruments are traded in lots with forex brokers, unlike cryptocurrency exchanges.

Spread

Spread is the difference between the buying and selling price of the cryptocurrency. These prices are set by individual traders and not the exchange. Thus, the spread always varies. Hence, we shall not be considering the spread in further calculations.

Fee

There are a number of fees charged by exchanges for trading cryptos. Below are some types of fees levied by most exchanges.

Execution fee (Taker or Maker)
30-day trading volume fee
Margin opening fee, if applicable

Note that, the taker or maker fee is charged twice – for opening and closing the trade.

Example

Long 1,000 XTZ/USD at $2.9169
30-day volume fee is 0.12%
Order is executed as Maker
Without Leverage

Total cost of the order = 1,000 x $2.9169 = $2916.9

Assuming the maker fee to be 0.16%, the opening fee will be – $2916.9 x 0.16% = $4.66

In addition, there is 0.12% fee for 30-day volume fee – $2916.9 x 0.12% = $3.50

Since the trade is opened without leverage, the margin opening fee will be $0.

If the order is closed at $2.9605, the total cost of closing will be – 1,000 x $2.9605 = $2960.5. The fee for closing will be:

$2960.5 x 0.16% = $4.73

Therefore, the total fee for this trade can be calculated as:

$4.66 + $3.50 + $4.73 = $12.89

Trading Range in XTZ/USD

The trading range in cryptocurrencies is different from that of foreign exchange. In forex, we calculated the pip movement using the ATR indicator and multiplied it with the pip value to find its worth. Since in cryptocurrency exchanges, there is no concept of pips. So, instead of representing the pip movement, we directly represent the value/worth of the price movement into the table.

The below table represents the value of the price movement for 1,000 quantities of XTZ/USD.

Note: the above values are for trading 1,000 units of XTZ/USD. If X units of the pair are traded, then the ATR values will be,

(ATR value from the table / 1,000) x X units

Procedure to assess ATR values

Add the ATR indicator to your chart
Set the period to 1
Add a 200-period SMA to this indicator
Shrink the chart so you can assess a large time period
Select your desired timeframe
Measure the floor level and set this value as the min
Measure the level of the 200-period SMA and set this as the average
Measure the peak levels and set this as Max.

XTZ/USD Cost as a Percent of the Trading Range

Cost as a percent of the trading range represents the relative cost in terms of percentage. It is calculated by finding the ratio between the total cost and the ATR value. The comprehension of it shall be discussed in the subsequent topic.

Taker Execution Model

Opening = $7.58 | Margin fee = $0 | Closing = $7.69 | 30-day volume = $3.50

Total fee = Opening + Margin fee + Closing + 30-day volume = $7.58 + $0 + $7.69 + $3.50 = $18.77

*Assuming taker fee to be 0.26% the trade value.

Maker Execution Model

Opening = $4.66 | Margin fee = $0 | Closing = $4.73 | 30-day volume = $3.50

Total fee = Opening + Margin fee + Closing + 30-day volume = $4.66 + $0 + $4.73 + $3.50 = $12.89

Interpretation of Cost as a Percent of the Trading Range

Firstly, the trading range table, in simple terms, depicts the approximate dollar profit/loss on the trade. For instance, let us consider the average value on the 4H timeframe, which is 71.5. This means that one can gain or lose an average of $71.5 in a matter of 4 hours or so.

With respect to the percentage table, the value of the percentage signifies how expensive the costs are relative to the time frame and profit or loss generated. In other sense, the cost remains the same irrespective of the time frame you trade. For example, let us consider the average percentage on the 4H time frame, which is 18.03%, and the average on the 1H, which is 34.01%. In both cases, the overall is the same, but the cost relative to the profit made, the cost appears to be higher in the 1H time frame because the profit amount is lower than the 4H time frame because there is more price movement on the 4H time frame.

Trading the XTZ/USD

Tezos is under the top 15 in market capitalization according to the data from CoinMarketCap. This signifies that it is intensively traded in the market. Most of the buying and selling happens in the cryptocurrency exchanges.

There are two types of traders – short term and long term. A short term trader may trade the 1H, 2H, 4H, or the 1D time frame, while a long term trader may go with the 1W or 1M time frame. Also, irrespective of the time frame, one must trade when the market volatility is around the average, or maximum value to relatively reduce fees on the trade.

Tags Asset Analytics, Crypto, Crypto Fiat Pair, cryptocurrency, Fees, slippage, spread, tezos, trading, US Dollar, USD, xtz, XTZ/USD

Crypto Market Analysis

Daily Crypto Review, Jun 11 – Chinese Crypto Traders’ Bank Accounts Getting Frozen; BTC Attempting To Break $10,000

Post author By Ilija Rankovic
Post date 11 June, 2020
No Comments on Daily Crypto Review, Jun 11 – Chinese Crypto Traders’ Bank Accounts Getting Frozen; BTC Attempting To Break $10,000

The crypto market has spent the day with increased volatility as Bitcoin was trying to pass the $10,000 mark. While the level got rejected once again, the price increase did happen. Bitcoin is currently trading for $9,941, which represents an increase of 1.69% on the day. Meanwhile, Ethereum gained 2.18% on the day, while XRP gained 0.81%.

Aave took the position of today’s biggest daily gainer, with gains of 20.26%. WAX lost 20.34% of its daily value, making it the most prominent daily loser.

Bitcoin’s dominance increased since we last reported, with its value currently at 65.34%. This value represents a 0.14% difference to the upside when compared to yesterday’s value.

The cryptocurrency market capitalization increased slightly over the course of the day, with the market’s current value being $281.26 billion. This value represents an increase of $3.57 billion when compared to the value it had yesterday.

What happened in the past 24 hours

Are Chinese bank accounts getting frozen by the government?

Almost 4,000 Chinese bank accounts have reportedly been frozen by the local government due to cryptocurrency trading. According to a report published on Monday, the Chinese police force froze the bank accounts of thousands of OTC traders from the Chinese province of Guangdong.

The report stated that the authorities started freezing bank accounts on Thursday. While the law enforcement is claiming that they are freezing only accounts tied to illicit activities, retail investors saw their bank account frozen after buying cryptocurrency on credible crypto exchanges.

_______________________________________________________________________

Technical analysis

_______________________________________________________________________

Bitcoin

The largest cryptocurrency by market capitalization has spent the day preparing for a move towards the upside. The price attempted to break the $10,000 threshold several times, each time being unsuccessful. However, even though the price point got rejected, Bitcoin gained some value and managed to pass $9,870 (which is being tested at the time of writing).

If Bitcoin manages to pass $10,000, it can face resistance above the $10,300 level.

Key levels to the upside Key levels to the downside

1: $10,010 1: $9,870

2: $10,355 2: $9,735

3: $9,580

Ethereum

Ethereum also made a move towards the upside while attempting to break its resistance level of $251.4. While the break is (so far) unsuccessful, it seems like the second-largest cryptocurrency by market cap has strong support in both the $240 level and the 21-period moving average, which means that the price will not dramatically fall without a fight.

Ethereum’s volume increased drastically during the peak of the move towards the upside but started to fade as the $251.4 level kept resisting.

Key levels to the upside Key levels to the downside

1: $251.4 1: $240

2: $260 2: $225.4

3: $217.6

Ripple

XRP stayed in its tight range over the course of the day, bound by the $0.2 support and $0.205 resistance level. While its price increased slightly, XRP didn’t make a determined move towards the upside (like Bitcoin and Ethereum did).

While scalp traders might enjoy the ranging moves, a confirmed break to either the upside or downside will benefit any trader as the move would most likely be easy to spot and profit from.

Key levels to the upside Key levels to the downside

1: $0.205 1: $0.2

2: $0.214 2: $0.19

3: $0.227

Tags bitcoin, BTC, Crypto, Crypto Trading, cryptocurrency, Daily Brief, ETH, Ethereum, Fundamental Analysis, Ripple, Technical Analysis, trading, XRP

Crypto Market Analysis

Daily Crypto Review, Jun 10 – Crypto Ransomware Cartels Forming; Market Preparing For A Move

Post author By Ilija Rankovic
Post date 10 June, 2020
No Comments on Daily Crypto Review, Jun 10 – Crypto Ransomware Cartels Forming; Market Preparing For A Move

The crypto market has spent the day without much movement and with low volatility. Bitcoin is currently trading for $9,737, which represents an increase of 0.54% on the day. Meanwhile, Ethereum gained 0.18% on the day, while XRP lost 0.78%.

Swiss Borg took the position of today’s biggest daily gainer, with gains of 18.23%. HedgeTrade lost 7.87% of its daily value, making it the most prominent daily loser.

Bitcoin’s dominance decreased since we last reported, with its value currently at 65.20%. This value represents a 0.92% difference to the downside when compared to yesterday’s value.

The cryptocurrency market capitalization increased slightly over the course of the day, with the market’s current value being $277.69 billion. This value represents an increase of $1.61 billion when compared to the value it had yesterday.

What happened in the past 24 hours

Crypto Ransomware Cartel?

Ransomware attacks started happening all over the world recently. They were performed by well-known cybercriminal groups, which are reportedly teaming up and creating cartel-style alliances, all with the idea to pressure their respective victims into paying the ransom requests.

The central feature to show that this is happening is that the gang notes that Ragnar Locker, which is a ransomware group, provided this info, as the title of the blog post they have posted says: “MAZE CARTEL Provided by Ragnar.”

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Technical analysis

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Bitcoin

The largest cryptocurrency by market capitalization has spent the day without much movement. As we noted yesterday, the $9,735 level was breached to the downside but was not confirmed (the lack of confirmation made us think that the move might be corrected soon). Bitcoin regained its price as well as the $9,375 level. There aren’t many opportunities for traders at the moment, but scalp traders might use the fact that Bitcoin is fluctuating around $9,735 and testing support and resistance levels above and below it.

Key levels to the upside Key levels to the downside

1: $9,870 1: $9,735

2: $10,010 2: $9,580

3: $9,250

Ethereum

Ethereum had no movement throughout the day, as it stayed within a one-dollar range. The second-largest cryptocurrency by market capitalization is secured by the 21-period moving average on its downside, while it has absolutely no volume to even try to test the upper levels.

Ethereum’s volume is extremely low while its RSI level is flat for a couple of days, sitting at 53.

Key levels to the upside Key levels to the downside

1: $251.4 1: $240

2: $260 2: $225.4

3: $217.6

Ripple

XRP slowly moved towards the $0.2 downside and tested the level after failing to break $0.205 due to the lack of volume. The third-largest cryptocurrency by market cap is in an inverse spot to Ethereum, as both the 21-period and 50-period moving averages are guarding the upside rather than the downside. XRP will require a substantial increase in volume in order to break this range. On top of that, unless it gets “pulled” up by Bitcoin or fundamentals, XRP is most likely to go under $0.2.

Key levels to the upside Key levels to the downside

1: $0.205 1: $0.2

2: $0.214 2: $0.19

3: $0.227

Tags bitcoin, BTC, Crypto, Crypto Trading, cryptocurrency, Daily Brief, ETH, Ethereum, Fundamental Analysis, Ripple, Technical Analysis, trading, XRP

Crypto Market Analysis

Daily Crypto Review, Jun 09 – Bitcoin Gaining 700% Soon? Analyst Estimates BTC At $75,000

Post author By Ilija Rankovic
Post date 9 June, 2020
No Comments on Daily Crypto Review, Jun 09 – Bitcoin Gaining 700% Soon? Analyst Estimates BTC At $75,000

The crypto market has spent the day mostly with low volatility, except for the past few hours when the price bounced up and down quickly before returning to its original values. Bitcoin is currently trading for $9,700, which represents a decrease of 0.56% on the day. Meanwhile, Ethereum lost 0.04% on the day, while XRP gained 0.16%.

Kyber Network took the position of today’s biggest daily gainer, with gains of 9.7%. Divi lost 23.7% of its daily value, making it the most prominent daily loser.

Bitcoin’s dominance increased slightly since we last reported, with its value currently at 66.12%. This value represents a 0.87% difference to the upside when compared to yesterday’s value.

The cryptocurrency market capitalization decreased slightly over the weekend, with the market’s current value being $276.08 billion. This value represents a decrease of $0.24 billion when compared to the value it had yesterday.

What happened in the past 24 hours

Bitcoin soon at $75,000?

Bitcoin analysis from Timothy Peterson (Cane Island Alternative Advisor) shows a strong possibility of BTC going to $75,000. The analysis is based on finding an uncanny similarity to Bitcoin’s chart movement in 2013. Peterson called this similarity “almost perfect.”

Peterson tracked Bitcoin’s price recovery from its 3,600 lows from mid-March, which (as he noted) looks almost exactly like the price action from seven years ago. If the price action from seven years ago can be translated into the future, Bitcoin should move 700% to the upside, giving it a price of around $75,000.

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Technical analysis

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Bitcoin

The largest cryptocurrency by market capitalization has spent the day mostly without any large price fluctuations. The market has been slow except for one single candle which tried to break both the upside and downside key levels but failing to do either completely.

Bitcoin’s volume is on the same levels as over the past week, while its RSI level fell to 50. The key level of $9,735 will be moved to the “upside” once the break is confirmed.

Key levels to the upside Key levels to the downside

1: $9,870 1: $9,735

2: $10,010 2: $9,580

3: $9,250

Ethereum

Ethereum had quite a slow day as well, with its price making a move only in a recent couple of candles. While one candle was strictly bullish, the other one had large wicks to both the upside and downside. The 21-period moving average seems to be holding the price quite well.

Ethereum’s volume increased in the past few candles, while its RSI level came down to 54.

Key levels to the upside Key levels to the downside

1: $251.4 1: $240

2: $260 2: $225.4

3: $217.6

Ripple

XRP made a move towards the upside and spent the whole day trying to break the $0.205 resistance level. However, the move was unsuccessful, triggering a severe drop, which even broke the $0.2 support level for a few minutes. However, the bulls came back almost instantly and picked up where they left off, threatening the $0.205 resistance level once again.

A break above $0.205 with an increase in volume (or a confirmation of breaking $0.205) could be a good trading opportunity for scalp traders.

Key levels to the upside Key levels to the downside

1: $0.205 1: $0.2

2: $0.214 2: $0.19

3: $0.227

Tags bitcoin, BTC, Crypto, Crypto Trading, cryptocurrency, Daily Brief, ETH, Ethereum, Fundamental Analysis, Ripple, Technical Analysis, trading, XRP