Posted on

Daily Altcoin Review: ETH/USD, LTC/USD Ranging, Fundamentals Supportive

Latest Ethereum News

In a milestone case— Copytrack Pte Ltd v Wall–noted by the University of Oxford Faculty of Law and published by the Business Law Blog, it is likely that relevant laws shall apply regarding claims of lost or stolen cryptocurrencies. The ruling made against the defendant, Brian Wall, mandates that the plaintiff and coin issuer Singapore’s based Copytrack Pte, shall trace and recover coins from “whatsoever hands the coins might be held at”.

Read: Ethereum (ETH) Futures Rumors Mount, As CBOE’s Bitcoin Foray Turns One

The defendant mistakenly received 580 ETHs from Copytrack instead of 580 PTY tokens after participating in an ICOs.

This is an important ruling that could help protect businesses or individuals who wire funds to the wrong addresses going on to demonstrate how blockchain technology is not only governed by codes and smart contracts but by applicable rules set by a given jurisdiction.

At the moment specialist companies are developing. However, in the future, it will become easy for the rightful owners to track and recover funds once they appear on supporting wallets.

ETH/USD Price Analysis

With a market cap of $9.25 billion, ETH is the third most valuable coin in the space. But it could reclaim its spot if prices surge above $100 and later $160. From candlestick arrangement, prospects of ETH/USD expanding above $100 is a tall order and largely depends on the resuscitation of BTC prices.

As it is, ETH is in range mode oscillating within a $17 range with limits at $100 and $83—Dec 7 lows. As mentioned in previous analysis, bears are in control but for trend shift and invalidation of the bear breakout pattern than saw ETH sink below $100 on Dec 6, then buyers must gain momentum and rally above $100.

This shall jolt buyers into action buying on dips with stops at $90 and first targets at $130 and later $160—the main resistance previous support line.

Our ETH/USD Trade plan is as follows:

Buy: $100

Stop: $90

Targets: $130, $160

 

Latest Litecoin News

In an audio interview with Helio Executive John O’Shea, the lending firm said it will issue loans backed with cryptocurrencies including Litecoin (LTC), XRP, BTC and ETH shortly after receiving a credit license from the regulator.

Also Read: 7 Major Exchanges Join Forces to Enhance the Crypto Ecosystem in South Korea

Meanwhile, HTC’s Exodus 1 was featured at the Slush Conference in Helsinki, Finland. The blockchain tailored smart phone which will ship pre-loaded with the Brave Browser will retail for 19.74 LTCs and the company has Litecoin’s founder as its consultant.

LTC/USD Price Analysis

LTC/USD Price Analysis

On a weekly basis, LTC/USD is down 18 percent but quite stable in lower time frames. Despite hints of higher highs and absorption of sell pressure without price swings, bears are technically in charge and could get worse if prices sink below our minor support at $20 or Dec 7 lows.

From simple candlestick arrangement, we shall recommend patience until after there are convincing breaks above the $5 range marked by Dec 8 highs at $25 and floors at $20. Before then, sellers have a real chance of driving prices lower in a trend continuation move that could see LTC print $2 by end year.

Of course, that is undesirable but the only time buyers would be in control is when there are solid moves above $25. That could thrust prices towards $40 and later $50 re-invigorating the market in the process.

This is our LTC/USD Trade Plan assuming bulls take charge:

Buy: $25

Stop: $20

Targets: $40, $50

All Charts Courtesy of Trading View

This is not Investment Advice. Do you Own Research.

The post Daily Altcoin Review: ETH/USD, LTC/USD Ranging, Fundamentals Supportive appeared first on Ethereum World News.

Posted on

Litecoin (LTC) Finally Nears $70 Amid Multiple Positive Developments

LTC Nears $70 For The First Time In Weeks 

For the first time in weeks, Litecoin (LTC), one of the foremost altcoins in the cryptosphere, has made a move for the $70 price level, which it hasn’t breached in nearly a month. At the time of writing, LTC sits at $67.65 and is up a solid 3.3% in the past 24 hours. Although this move may seem negligible in the eyes of many cryptocurrency traders, LTC and Stellar Lumens (XLM) have both taken a leading position in today’s mixed market, with Bitcoin up 1.3% and Ethereum down 1.25%.

Many analysts expect for $70, which has proven itself as a line of psychological and technical resistance, to be LTC’s next roadblock to leap over in the coming days.

Chart Courtesy of TradingView

Although it is unlikely that there was an explicit catalyst for this move, many believe that a series of positive developments (which are as follows) have pushed the price of this asset higher.

The Upcoming Litecoin Summit 

As revealed by Charlie Lee, the founder of Litecoin and a well-known cryptocurrency personality, in an interview with CNBC, the San Francisco Litecoin Summit is just weeks away. When asked about what he wants for attendees to take away from the conference, Lee stated:

“I’d like to see more [talk around] Lightning Network and sidechains, ways of helping Bitcoin and Litecoin to scale. I think with the price depressed, it’s actually a good time for people to… get stuff done. That’s what I’ve seen in the past few bear markets actually.”

Many hope that the development of these technologies will bolster the long-term performance of the price of both BTC and LTC, as the two assets are complementary to each other. Responding to Lee’s statement, CNBC Fast Money panelist Brian Kelly noted that this conference has a possibility to also be a short-term catalyst for the price of LTC.

While the market didn’t surge during (or after) Consensus 2018, unarguably crypto’s biggest get-together, some optimists hope that the upcoming Litecoin-centric summit could spark the crypto market’s next bull run.

Abra Introduces Fiat-To-Crypto Support For Bitcoin, Litecoin & More

Although this news could be seen as a positive signal for the entirety of the crypto market, Abra, a popular mobile-focused alternative to Coinbase, has just announced that residents of the SEPA (Single Euro Payments Area) can directly deposit fiat into the app, which should make buying the 25 cryptos listed a breeze.

In a Twitter announcement, the California-based startup wrote:

“Excited to announce that Abra is starting the launch of in-app European bank purchases of Bitcoin and 25+ cryptocurrencies for consumers across 28 countries.”

Hopefully, this new feature will help to drive the adoption of cryptocurrencies in general, as an easy-to-use, accesible, and efficient method of buying crypto assets, like Abra, is needed in a time where this nascent industry is widely misunderstood.

Casa Begins Work On LTC Support For Q4 2018 Release

Litecoin’s founder, who has been outspoken about his affection towards both the Bitcoin and Litecoin projects in the past, recently asked Casa, a popular Bitcoin-focused infrastructure firm, if its products would natively support Litecoin in the future.

Responding to Lee’s tweet, the startup has just revealed that it is, in fact, working on Litecoin support for its publicly-available Lightning Network Node. The firm intends to release Litecoin support during early Q4 of this year, which will evidently help to drive the growth and development of the long-awaited Lightning Network and atomic swaps.

Title Image Courtesy of MaxPixel
Girl in a jacket

loading…

Posted on

Bitcoin Loses $7K Footing Amid Market-Wide Price Correction

Thursday, August 30: following the week’s brief uptick, crypto markets are today seeing widespread corrections, with the top ten coins by market cap losing between 1.5 and 5 percent on the day. All but 13 minor alts among the top 100 ranked cryptos are in the red, as Coin360 data shows.

Market visualization from Coin360

Market visualization from Coin360

Bitcoin (BTC) is trading at around $6,942 at press time, down1.52 percent on the day, according to Cointelegraph’s Bitcoin price index.

Having broken through the much-fêted $7,000 threshold earlier this week, the top coin has seen a slump set in as of yesterday, August 29.

Bitcoin’s 7-day price chart. Source: Cointelegraph Bitcoin Price Index

Bitcoin’s 7-day price chart. Source: Cointelegraph Bitcoin Price Index

On the week, Bitcoin remains up a solid 6 percent, while monthly losses are around 15 percent.

Ethereum (ETH) is trading around $284 at press time, over 3 percent on the day and virtually reversing the gains claimed over the past couple of days. The altcoin is now back within the trading range it held between August 20 and August 27. While Ethereum’s weekly gains remain less than 1 percent, monthly losses are pushing 39 percent.

Ethereum’s 7-day price chart. Source: Cointelegraph Ethereum Price Index

Ethereum’s 7-day price chart. Source: Cointelegraph Ethereum Price Index

Among the top ten coins, Stellar (XLM) is down 2.86 percent at $0.22, Ripple (XRP) has lost 2.96 percent to trade around $0.33, and Bitcoin Cash (BCH) is down 3.17 percent at $538.77. Litecoin (LTC) has fared just fractionally better, down 2.41 percent to trade around $60.50.

Having seen growth of over 12 percent yesterday, EOS (EOS) is today down 3 percent and is trading at $6.05 at press time.

IOTA (IOTA) has taken a hit. Following a week of exceptionally bullish growth in response to news of a partnership with Japanese ICT conglomerate Fujitsu on a new proof-of-concept (PoC) for audit trails, IOTA has lost 4.68 percent on the day and is trading around $0.71.

IOTA’s 7-day price chart. Source: CoinMarketCap

IOTA’s 7-day price chart. Source: CoinMarketCap

Total market capitalization of all cryptocurrencies is around $225 billion at press time, down $8 billion from yesterday, and over $12 billion from a weekly peak at $233.2 billion.

7-day chart of the total market capitalization of all cryptocurrencies from CoinMarketCap

7-day chart of the total market capitalization of all cryptocurrencies from CoinMarketCap

While the market falters, regulators globally this week have indicated efforts to bring greater transparency — and potentially with it, more stringent oversight — to the cryptocurrency sector.

Economic and financial affairs ministers from the European Union’s 28 member states will reportedly hold an informal meeting in early September on the challenges posed by digital assets and the possibility of tightening regulations, according to a new Bloomberg report. Polish legislators have also this week introduced a long-awaited new bill to clarify the country’s current crypto taxation policy.

Keeping in mind Charlie Lee’s recent comments that bear markets offer an opportunity for the community to focus on reaching adoption, Yahoo Finance has this week integrated trading with Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC), news that was hailed by Morgan Creek Digital’s Anthony Pompliano as a bullish sign the crypto “virus is spreading.”

Posted on

Bitcoin Continues to Hover Near $7K, Wider Crypto Market Sees Some Mild Corrections

Wednesday, August 29: crypto markets are largely holding fort after yesterday’s strong upswing, as Bitcoin (BTC) continues to trade near the $7,000 price point and many of the top ten cryptocurrencies see negligible price change on the day.

While a number of crypto assets in the top 100 are seeing mild corrections, these are scattered and are not for now correlated as part of a market-wide downtrend, as Coin360 data shows.

Market visualization from Coin360

Market visualization from Coin360

Bitcoin (BTC) is trading at around $7,036 at press time, down just half a percent on the day, according to Cointelegraph’s Bitcoin price index.

The top coin yesterday broke through the $7,000 threshold for the first time since August 8, and is trading around $300 higher than just a couple of days ago, August 27. Today’s further consolidation caps a strong upward trend on Bitcoin’s weekly chart.

Bitcoin’s 7-day price chart

Bitcoin’s 7-day price chart. Source: Cointelegraph Bitcoin Price Index

On the week, Bitcoin is now up a solid 5.7 percent, while its monthly gains are still down around 14 percent.

Ethereum (ETH) is trading around $296 at press time, up 1.8 percent on the day and coming tantalizingly close to reclaiming the $300 price point – which it last held August 20. Yesterday, August 28, the altcoin saw the first major upswing in price performance after a faltering week range bound between $270-280. Ethereum is now up a bullish 9 percent on the week; on the month, losses have closed down slightly to a still weighty 36.6 percent.

Ethereum’s 7-day price chart

Ethereum’s 7-day price chart. Source: Cointelegraph Ethereum Price Index

Most of the top ten cryptocurrencies are seeing negligible price changes between 0.5 and 1 percent on the day, largely holding yesterday’s gains.

EOS (EOS) meanwhile stands out from the crowd, seeing growth over the past 24 hours of over 12 percent. The other exception to the group is IOTA (MIOTA), up almost 8 percent on the day and capping two days of astonishing growth to trade around $0.75 at press time.

IOTA’s 7-day price chart

IOTA’s 7-day price chart. Source: CoinMarketCap

IOTA’s growth has soared since August 27’s announcement that Japanese ICT conglomerate Fujitsu is launching an IOTA-based proof-of-concept (PoC) for audit trail processes in the manufacturing industry.

Among the top twenty coins on CoinMarketCap, corrections have hit several assets that saw a particularly sharp uptick yesterday. NEO, which yesterday shot up almost 16 percent, is now down about 3 percent to trade at $20.17. TRON (TRX), which also saw over 14 percent growth yesterday, today is down 4 percent to trade at $0.025 to press time.

Having outstripped all of the top 100 ranked cryptos yesterday to post gains as high as 27 percent, DASH, ranked 13th, has today however grown by a further 2 percent to trade around $190.

Dash’s 7-day price chart

Dash’s 7-day price chart. Source: CoinMarketCap

Total market capitalization of all cryptocurrencies is at around $229.2 billion at press time, losing around $4 billion from yesterday’s peak at $233.2 billion.

7-day chart of the total market capitalization of all cryptocurrencies

7-day chart of the total market capitalization of all cryptocurrencies from CoinMarketCap

While market performance today may not have quite lived up to yesterday’s flush of green, Litecoin (LTC) creator Charlie Lee this week dismissed short-term price fluctuations as the upshot of “speculation,” stressing that long-term valuation is a truer measure of crypto’s success. He also suggested that bear markets are in fact a good moment for developers and the crypto community to buckle down to focus on technological development and “get stuff done.”

Meanwhile, a new study by U.S. crypto exchange Coinbase has revealed that 42 percent of the world’s top 50 universities have at least one class on cryptocurrencies or blockchain – with the U.S. emerging as a global leader in terms of crypto-education’s popularity.

Posted on

Litecoin’s Charlie Lee: Crypto Bear Markets Are a ‘Good Time to Get Stuff Done’

Litecoin (LTC) creator Charlie Lee has dismissed short-term price trends as the upshot of “speculation,” stressing that long-term valuation is a truer measure of crypto’s success, in a CNBC interview August 27.

When asked to what extent price is a meaningful metric for a given cryptocurrency, and whether or not it reflects the current state of its network, adoption, or viability, Lee responded that:

“In the long-term, [price] tells us the success of cryptocurrencies, but short-term it doesn’t really tell us much. For example this year, there’s been so much adoption in Bitcoin and Litecoin, but their price has dropped 60-70 percent. It’s because it’s so volatile, it’s all about speculation these days, but in the future the price will reflect the success of the currencies.”

Lee noted that it was “hard to predict” when 2018’s bear market would turn, saying that having been in the space for seven years, he has seen positive momentum at times return within half a year – at others, only within three or four years.

He emphasized, however, that bear markets are in fact a good moment for developers and the crypto community to buckle down and focus on technological development, reaching adoption, and tackling challenges such as scalability:

“I’d like to see more [talk around] Lightning Network and sidechains, ways of helping Bitcoin and Litecoin to scale. I think with the price depressed, it’s actually a good time for people to […] get stuff done. That’s what I’ve seen in the past few bear markets actually.”

Lee also responded to CNBC reporter Melissa Lee’s question about his own decision to sell off his Litecoin holdings, explaining that he chose to do so due to “conflict of interest,” and that, accordingly, he wouldn’t be buying the altcoin back – not soon, perhaps not ever.

In an interview with Cointelegraph this February, Lee had further characterized the move to sell as his “first step” away from the project, a stance he later reaffirmed as necessary in order to ensure that Litecoin would become a fully decentralized cryptocurrency, true to the spirit of Bitcoin’s anonymous character with its notoriously absent creator, Satoshi Nakamoto.

As of press time, Bitcoin (BTC) is trading at $7,045, down just a quarter of a percent on the day, with Litecoin (LTC) trading at $63, up a solid 3.1 percent over the same time frame.

Posted on

Tether Prints 50 Million USDT, The Controversy Continues

Tether is the project that you either love, hate, or know nothing about. For individuals falling into the latter category, here’s a quick overview of this often controversial topic.

Tether Remains A Controversy 

Tether is a stablecoin that is inherently tied to the value of one U.S. dollar and is reportedly backed by legitimate reserves. Many use USDT as a method to find solace in a bear market, as you can trade your altcoins/Bitcoin into Tether, in an act fittingly named “tethering”, to maintain the dollar value of your holdings.

Despite the fact that USDT has quickly become the 9th most valuable project in the industry, many remain skeptical about the funds behind the project, as the Tether organization has been slow to procure the documents that show that it holds $2.5+ billion in its reserves. While the Tether organization, which has been linked to Bitfenix’s leadership team, fired its auditors earlier this year, it has since shown some evidence to suggest that there are funds that back 100% of USDT tokens.

Although the fears around its USD reserves may have subsided, USDT has still remained a primary topic of controversy within the cryptocurrency community.

As reported by Ethereum World News, researchers claim that USDT was used to push up the price of Bitcoin throughout 2017. According to the research paper, which hailed from the University of Texas, the stablecoin was used to artificially inflate the price of Bitcoin following (or during) a sharp decline.

Not only do fears of manipulation surround the project, but so do technical concerns. According to SlowMIst, a Chinese crypto-centric cybersecurity team, an unnamed exchange falsely accepted 694 USDT tokens in a “double spend” attempt. Following this revelation, the community went into a panic, with some believing that the whole Tether ecosystem would come crashing down. However, as addressed by well-known exchanges and an Omni developer, this issue should not affect all USDT tokens, as this was just a case of “poor exchange integration.”

While the aforementioned fears have since been addressed in some capacity, the project remains as one of the most contested topics in the cryptosphere.

Kaching! Tether Prints 50 Million USDT

On Saturday morning, the Tether organization issued $50 million new USDT tokens amidst a bearish market. This information comes via the Omni block explorer (Omniexplorer), which helps track Omni-based assets, such as USDT tokens. With this move, Tether now has a $2.4 billion market cap, which has brought it to become the 9th most valuable cryptocurrency.

During a previous Tether issuance, Charlie Lee, a well-known cryptocurrency personality and founder of the Litecoin project, pointed out that the printing of USDT likely is a bullish sign.

But this time around, the market continued lower instead of seeing a healthy 2-3% move upwards as prices normally do, which surprised more than just a few investors.

Photo by Jeremy Paige on Unsplash

loading…

Posted on

Blockchain Startup Enables Litecoin Transactions via Telegram Messenger

Litecoin (LTC) transactions are now available via encrypted messenger app Telegram, Litecoin founder Charlie Lee tweeted today, Aug. 9.

The new Litecoin feature Lite.im was developed by blockchain startup Zulu Republic. Based in Zug, Switzerland, the firm develops decentralized applications (DApps) and “is an ecosystem of digital platforms built on the Ethereum (ETH) blockchain.”

According to a Zulu blog post, the new Litecoin feature will enable users to use Litecoin services with text queries via Zulu’s backend LTC API system. Zulu stressed that private key data is not managed by the the company, and instead secured with RSA encryption and the user’s private password.

In the announcement, Zulu said that Lite.im will first be rolled out on the Telegram  messenger app, “the most secure messenger in the world,” adding that the app provides privacy that is “built in by default.” Lite.im will allow users to send commands to check their current LTC balance and send LTC to a wallet or an email address.

In the future, the company aims to introduce LTC transactions via text messages (SMS) to enable operations on the Litecoin blockchain for customers with poor internet connection. The startup states that, out of the 64 percent of the global population that owns a mobile phone, only 33 percent have a smartphone with internet connection.

Zulu stressed the decentralized nature of the upcoming feature, saying that it is targeting countries where “internet connectivity is scarce, where the web is censored by autocratic regimes, and where large segments of the population are marginalized by the conventional financial system.”

The statement also says that users will be able to send Litecoin “to those who don’t already have a Litecoin wallet, or to those whose wallet address you don’t know, even if the recipient has no idea how to use cryptocurrency.”

Currently the seventh largest cryptocurrency by market capitalization, Litecoin is an open-source project that was released in 2017. The basic idea of the digital currency is to provide faster and cheaper transactions than those of major cryptocurrency Bitcoin (BTC). LTC is trading around $64 at press time, having seen its all-time high of $351 in December 2017, according to Cointelegraph’s Litecoin price index.

Posted on

Litecoin (LTC) Compliments Bitcoin and is Currently Massively Discounted, Says Market Analyst

In an exclusive commentary from Mati Greenspan (eToro’s Senior Market Analyst), Ethereum World News was made privy of a new research paper on Litecoin (LTC) by eToro. In the paper, Mr. Greenspan explores Litecoin (LTC) from all angles such as its history, market statistics, technical background, as well as recent and future developments.

One of the highlights of Greenspan’s commentary, was that Litecoin is not aiming to unseat Bitcoin. He explained this fact as follows:

Unlike many cryptos Litecoin isn’t aiming to unseat bitcoin, it actually plays more of a supportive role, like silver does with gold. The faster and easier transactions make it a bit more usable in everyday commerce and it also functions as a store of value.

As the world’s second major cryptocurrency, Litecoin is one of the most established and trusted names in crypto and it has an extremely vibrant community.

The research paper goes on to outline the recent and future developments of Litecoin as follows:

  • Litecoin facilitates the implementation of new developments for Bitcoin and crypto in general e.g implementing the Lightning Network and Segwit
  • Several business are offereing LTC based payments e.g Alza.cz, Wirex, eGifter, CheapAir
  • Litcoin Foundation bought a 9.9% stake in German WEB Bank which will further LTC adoption through debit cards, online payments and retail implementation
  • The Litecoin community continues to be loyal and vibrant. It is also famous for inside jokes such as Litecoin’s common nickname of chikun
Market Performance and other Important facts about LTC

The research paper went on to analyze LTC’s recent market performance and stated the following:

  • Litecoin is referred to as the ‘digital silver’ to Bitcoin’s ‘gold’. It was meant to complement BTC. The research paper also goes on to observe that the ratio between BTC and LTC is rather similar to that of Silver and Gold
  • Litecoin has a much larger number of daily active addresses (DAU) with respect to its market
    cap than all the other currencies considered except Dash
  • Litecoin has a large relative daily transaction volume than any other currency, suggesting that it is very much active and established more than its price reflects
  • Litecoin has experienced a very significant correction by falling over 80% to its current price

The research paper by Mati Greenspan went on to conclude that LTC has been oversold and its current price is massively discounted to what it should be worth:

Given that Litecoin has an established and stable working product, as well as significant adoption, this bear market of the whole cryptocurrency industry could have lead to Litecoin being oversold.

Disclaimer: This article is not meant to give financial advice. Any opinion herein should be taken as is. Please carry out your own research before investing in any of the numerous cryptocurrencies available.

loading…

Posted on

Charlie Lee to Advise Development of HTC Crypto-Compatible Smartphone Exodus

Litecoin (LTC) founder Charlie Lee tweeted July 29 that he will be an advisor for HTC’s new smartphone Exodus, which will support LTC and the Lightning Network (LN).

In acknowledging Lee’s new advisory position, HTC tweeted:

“One small step for @SatoshiLite. One giant leap for blockchain.”

As previously reported by Cointelegraph, HTC is seeking to enter the crypto space with a mobile device that includes decentralized ledger technology (DLT), announcing the Exodus as “the first native blockchain phone” in May.

In June, the company clarified that the Exodus will instead contain a cryptocurrency wallet that will support Bitcoin (BTC) and Ethereum (ETH), as well as the LN and the popular gaming DApp CryptoKitties.

Lee’s tweet announcing his new role in HTC as an advisor also revealed that the Exodus would support both LTC and the Lightning Network “natively,” noting that he took on the advisory role as he “see[s] having a secure crypto phone that makes LN simple [as] needed for mass adoption.”

While the final blockchain structure of Exodus is still unclear, Lee reassured in his tweet that, “No, they will not remove BTC.”

According to Phil Chen, the creator of HTC Vive and HTC’s head of business and corporate development, the price of Exodus would be “comparable” to that of Sirin Labs’ blockchain-backed smartphone Finney, which has an expected retail price of $1,000.

Chinese tech giant Huawei also reportedly has taken an interest in developing a smartphone that will support DApps running on blockchain technology, as an unconfirmed March report noted the firm was seeking a license for the open-source operating system SIRIN OS.

Posted on

HTC Says Its Crypto-Friendly Smartphone Will Support Litecoin

HTC’s new blockchain-compatible smartphone will support litecoin, creator Charlie Lee said Sunday.

Lee announced the news Sunday, adding that he was joining the development team of the HTC Exodus as an advisor. The news comes days after Lee claimed he met with the Exodus’ team last week. Lee further confirmed that the Exodus will support the Lightning Network on litecoin natively.

He added a disclaimer that the Exodus will still support bitcoin.

HTC confirmed the news Monday, saying the team was “honored” to have Lee join as an advisor.

The Taiwanese electronics maker first announced the Exodus in May, saying it was developing the world’s first cryptocurrency smartphone. The device will serve as both a mobile connecting point to blockchain networks and a storage device for major cryptocurrencies including bitcoin and ethereum, as previously reported by CoinDesk.

HTC chief crypto officer Phil Chen told CoinDesk that the company is hoping to begin distributing the new phone by the end of the year, though he declined to provide a firm date.

Individuals interested in purchasing the Exodus early can participate in a pre-sale with bitcoin or ether, he said.

In July, HTC said the phone will also support the mobile app CryptoKitties.

HTC is not the only company working on a blockchain-dedicated smartphone – Sirin Labs recently raised $157 million in an initial coin offering to build the “Finney.”

Image via Shutterstock

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.