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Proof-of-Stake Cryptocurrencies Have $4 Billion in Staked Funds: Diar

New research from Diar notes Eos makes up almost half of PoS staked funds’ total market value, followed by Dash and Cosmos.

An increasing trend in cryptocurrency looks set to continue as major proof-of-stake (PoS) projects launch in 2019, industry newsletter Diar noted in its latest weekly digest on March 18.

PoS, an algorithm used in many well-known cryptocurrencies such as Eos (EOS), Dash (DASH) and Tron (TRON), is accounting for a rising amount of value in the ecosystem.

This year, half a dozen more PoS projects will launch, Diar notes, on the back of the debut effort from Cosmos (ATOM), a PoS project that raised $17 million in its initial coin offering in 2017.

Many coins only employ PoS to some extent, with the proportion of total supply “staked” by network participants changing. Staking refers to a participant proving they own a certain number of coins as part of the network’s consensus mechanism.

With Eos, the staked total has reached 47 percent of overall supply, making it the most staked coin in dollar terms, according to Diar’s calculations, at $1.8 billion.

Second is Dash, with $431 million staked, followed by newly-launched Cosmos with $309 million. In total, staked funds are worth around $4 billion.

“EOS, whose mainnet launch was met with hiccups due to low staking participation, now represents nearly half of the staked value on PoS blockchain networks alone,” the publication added.

As Cointelegraph reported last month, MIT is currently working on a new format of cryptocurrency based on PoS, while the largest altcoin by market cap, Ethereum (ETH), is set to transfer to the protocol by 2021.

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Bitcoin Cash Grows as Major Oil Futures Show Mixed Movements

Most of the top cryptocurrencies and Bitcoin are reporting slight to noteworthy losses on the day as Bitcoin Cash sees gains.

Monday, March 18 — most of the top 20 cryptocurrencies are reporting slight to noteworthy losses on the day by press time.

Bitcoin is down just over one tenth of a percent on the day, trading at around $4,024, according to CoinMarketCap. Looking at its weekly chart, the current price is just under three percent higher than $3,906, the price at which Bitcoin started the week.

Bitcoin 7-day price chart

Bitcoin 7-day price chart. Source: CoinMarketCap

Co-founder of advisory firm Fundstrat Global Tom Lee today noted the apparent correlation between Bitcoin’s price action and emerging markets in a tweet.

Ethereum (ETH) is holding onto its position as the largest altcoin by market cap, which is at about $14.6 billion. The second-largest altcoin, Ripple (XRP), has a market cap of about $13 billion by press time.

ETH is down by about one percent over the last 24 hours. At press time, ETH is trading around $139, after having started the day at $140. On its weekly chart, Ethereum has seen its value increase by over four percent.

Ethereum 7-day price chart

Ethereum 7-day price chart. Source: CoinMarketCap

Ethereum core devs approved once again the proposed application specific integrated circuit-resistant proof-of-work algorithm ProgPoW during their weekly meeting on March 15.

Second-largest altcoin Ripple has lost about three quarters of a percent in the 24 hours to press time, and is currently trading at around $0.315. Looking at the coin’s weekly chart, its current price is over one and a half percent higher than $0.310, the price at which it started the week.

Ripple 7-day price chart

Ripple 7-day price chart. Source: CoinMarketCap

Among the top 20 cryptocurrencies, the only ones reporting gains are Bitcoin Cash (BCH), which is up nearly five and a half percent, Ontology (ONT), which is up over two percent, Dash (DASH) and Maker (MKR), both up over one and a half percent.

The total market cap of all cryptocurrencies is currently equivalent to $139.3 billion, which is over four and a half percent higher than $132.8 billion, the value it saw one week ago.

As Cointelegraph reported earlier today, Tyler and Cameron Winklevoss, Bitcoin bulls and founders of the Gemini crypto exchange, say that while Facebook’s secretive crypto project is positive for the industry, crypto will ultimately usher in something greater than the social networking era.

In traditional markets, the stock market is seeing discreet growth so far today, with the S&P 500 up 0.15 percent and Nasdaq up 0.17 percent. The CBOE Volatility Index (VIX), on the other hand, has gained a solid 2.87 percent on the day at press time.

Earlier today, CNBC reported that European markets are seeing growth, for Deutsche Bank and Commerzbank shares surged three percent as the banks discuss a merge.

Major oil futures and indexes are showing mixed movements today, with WTI Crude up 0.05 percent, Brent Crude up 0.22 percent and Mars US down 1.42 percent. Opec Basket is also up 1.04 percent and the Canadian Crude Index has seen its value increase by 0.37 percent, according to OilPrices.

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Top 5 Crypto Performers Overview: Stellar, Bitcoin Cash, Cardano, Dash, Monero

The crypto market is looking at a tentative uptrend — let’s take a look at the coins leading the way.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

The market data is provided by the HitBTC exchange.

The crypto markets are showing the first signs of bottoming out. Most cryptocurrencies are well above their yearly lows and are starting new uptrends. Every bull phase has a new set of leaders. Therefore, it is important to note the digital currencies that are pulling the market higher, as these are the ones that are likely to outperform during the move upwards.

Bitcoin’s (BTC) dominance continues to drop gradually since reaching a high of about 57.80 percent in mid-September. This shows that the market participants are loading up on altcoins. However, a new bull phase cannot start without support from the leading cryptocurrency.

The good news regarding Bitcoin is that it has stopped falling and is gradually moving higher. Its volume topped $11 billion over the 24-hour period on March 15, a level not seen since April 25 of last year. This shows that market participants are gradually turning bullish on the leading cryptocurrency.

As the crypto universe emerges from its prolonged bear phase, there will be periods when Bitcoin will lead and other times when altcoins will lead. So, traders should change their strategy accordingly.

XLM/USD

Stellar (XLM) is the best performing major cryptocurrency of the past week. It rallied on the back of favorable news, as Coinbase Pro announced support for Stellar on March 13. This move will likely eventually lead to full support on Coinbase’s other platforms. The appointment of Denelle Dixon, former chief operating officer at Mozilla, as the CEO and executive director of Stellar Development Foundation also served as bullish news.

Additionally, IBM’s push to create a stablecoin targeting blockchain-powered cross-border payment solutions for banks involves a partnership with the altcoin in the form of Blockchain World Wire. The question is, can this adoption and development-based rally continue or will it hit a roadblock ahead? Let’s take a look at the charts.

XLM

The XLM/USD pair is in a downtrend. Both the moving averages are still down and the RSI is in the negative zone. Currently, it is attempting to pullback from the lows, which will face resistance at $0.14861760 and above it at the downtrend line.

We are yet to see a higher high and a higher low being formed, which will indicate that the downtrend is over. Therefore, for long-term investors, we don’t see any reliable buy setups yet. If the pair turns down from the 20-week EMA, it will again attempt a breakdown to new lows.   

BCH/USD

Bitcoin Cash (BCH) was the second-best performer for the week, rising about 15 percent. Though there was apparently no specific news driving prices higher, the digital currency has a history of vertical rallies and waterfall declines. Let’s see where it goes from here.

BCH

After many small range weeks, the BCH/USD pair is looking to move up. The current move is likely to carry it to the 20-week EMA, which is just below the horizontal resistance of $239. If the bulls succeed in breaking out of $239, we anticipate the pair to pick up momentum and rally to $400. The digital currency has a history of sharp rallies; hence, the target might surprise to the upside.

Contrary to our assumption, if the cryptocurrency turns down from $239, it might extend its stay in the range for a few more weeks. It will turn negative if the bears sink the price below $105.

ADA/USD

Cardano (ADA) announced this week that it will be one of the founding members of the  European Commission’s International Association for Trusted Blockchain Applications. The association is an effort to identify the improvements blockchain technology can bring to various industries and formulate a common approach for the European Union.

ADA

The ADA/USD pair has been range bound between $0.036815 and $0.051468. We like it when a digital currency forms a large basing pattern after a prolonged downtrend. Previous attempts to breakout or breakdown of the range did not find any takers.

Currently, the bulls are trying to breakout of the range once again. The 20-week EMA is just above this level, which might also act as a roadblock. If the digital currency scales above the 20-week EMA, we anticipate a quick rally to $0.082952 and above it to $0.094256. Therefore, traders can buy on a weekly close (UTC time frame) above $0.051468 and keep a stop loss of $0.0350.

Opposite to our expectations, if the digital currency turns down from the current levels, it will extend it stay in the range for a few more weeks. A breakdown of the range will be a negative sign that can result in a retest of the lows, below which the downtrend will resume.

DASH/USD

Dash (DASH) has been making huge inroads in Venezuela as the citizens look at various available avenues to deal with the unstable Bolivar and foreign sanctions, which threaten to derail SWIFT, Visa and MasterCard services. Dash Text has come up with a charity system that is devoid of any human third-party intervention. The donations are directly distributed among the pool of recipients. In other news, Equicex Group, the provider of privacy-focused debit cards, has decided to integrate Dash, which increases the options available for Dash users.

DASH

The DASH/USD pair continues to trade between $56.214 and $103.261. The bulls are attempting to push prices above the resistance of the range. The 20-week EMA is placed just below $103.261 levels. We expect the bears to defend this resistance. If the price turns down, then the consolidation will stretch out for a few more weeks. The trend will turn negative if the bears sink the digital currency below the range.

Conversely, if the bulls succeed in breaking out of the overhead resistance, it can move towards the next levels of $175 and $224. Aggressive traders can buy a breakout and weekly close (UTC time frame) above $103.261. The initial stop loss can be kept at $56 that can be quickly raised if the price moves northwards or fails to build upon gains following the breakout.

XMR/USD

In Monero (XMR) news, the altcoin completed a hard fork on March 09 that will help improve its privacy, security and ASIC resistance. Following the update, the hash rate of the Monero network plunged by about 90 percent from 1.14Gh/s to 162.14Mh/s. Additionally, two new Monero trading pairs were added by top global exchange Binance. Given these developments, the cryptocurrency came out this week as the fifth best performer. Can it improve upon its performance?

XMR

The bulls are attempting to carry the XMR/USD pair above the resistance of the range at $60.1470 and the 20-week EMA at $62.50. If successful, a quick rally to $81, followed by a move to $114.840 is probable. The long-term target is $150.

Traders can buy on a close above $62.5 and keep a stop loss of $38, which is just below the bottom of the range. As the price moves higher, we would suggest trailing the stops higher to reduce risk.

On the other hand, if the price turns down from the overhead resistance, the virtual currency will remain range bound for a few more weeks. The trend will turn negative on a breakdown of the current range.

Market data is provided by the HitBTC exchange. Charts for analysis are provided by TradingView.

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Top 5 Crypto Performers Overview: Binance Coin, Bitcoin SV, Ripple, Dash, Litecoin

Against the backdrop of numerous positive headlines, February was the first month to see Bitcoin’s price grow since July of 2018.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

The market data is provided by the HitBTC exchange.

The crypto markets are showing signs of bottoming out. Bitcoin gained about 11 percent in February, its first month to close positively since July of 2018.

Bitcoin is not the only cryptocurrency being favored by the market participants.  A number of other major coins are also looking strong and have recovered from their lows.

The news of Facebook exploring options to launch its own cryptocurrency has been received as bullish. The new Samsung smartphone, Galaxy S10 will have a crypto wallet for Bitcoin and Ethereum. All these efforts will introduce cryptocurrencies to a global audience.

The fundamentals in the crypto industry have been improving for the past few months. The institutional players are recognizing these developments and have started making forays into the space.

We expect greater participation from the institutions after the cryptocurrency market at large confirms a bottom. Hence, the traders can start initiating positions in the coins that have bottomed out or are displaying a good risk to reward ratio.

BNB/USD

Binance Launchpad platform has concluded a successful sale of the Fetch.AI (FET) token within 22 seconds on Feb. 25. This shows that there is market demand for what Binance Launchpad does.

A few weeks back, a similarly successful sale of Tron-based BitTorrent token (BTT) had completed in 15–18 minutes. In order to speed up the launch of its mainnet, Binance is handing out rewards for testing the company’s new decentralized trading platform Binance DEX. Binance Coin (BNB) has benefitted from these positive headlines.

Can the price move higher? Let’s find out.

BNB/USD

The BNB/USD pair has risen by almost 174 percent from its early-December lows. After the recent pullback, the price has covered a lot of ground and now remains only about 56 percent below its lifetime highs. This clearly shows a strong demand for the digital currency.

Currently, the price is close to the critical overhead resistance of $12. A break out of this can carry the pair towards the next target of $15, and above it to $18.

On the other hand, if the bulls fail to scale and sustain above $12, a few days of consolidation or a minor dip cannot be ruled out. While short-term traders can buy on a breakout above $12, the long-term players can wait for a minor dip to enter.

BSV/USD

Bitcoin SV (BSV) was the second-best performer of the week. It rallied sharply on Feb. 25 and 26 as the cryptocurrency got listed by payment processor CoinGate, as well as by a Turkish exchange Vebitcoin.

Increased support has been welcomed by market participants. Can the price move up, or will it give up all the recent gains?

BSV/USD

The BSV/USD pair has a short trading history. It is currently trying to bottom out closer to the support at $65.031. Multiple attempts to sink the pair have failed, as selling dries up at lower levels. This is a positive sign that shows that buyers are keen to invest on the dips.

If the price closes (UTC time frame) above $71.412, it will be likely to rally to $123.980.

Conversely, if the pair breaks down of the immediate support at $58.072, a drop to the low at $38.528 will become probable.

LTC/USD

The Litecoin (LTC) Foundation has partnered with premier kickboxing league Glory to make LTC the official cryptocurrency for Glory’s various events and its online merchandise platform. With this, Litecoin aims to reach out to the large fanbase of the league.

LTC/USD

The LTC/USD pair has not given up much ground after hitting the overhead resistance of $47.2460 three weeks ago. This shows that the bulls are in no urgency to book profits after the rally from the lows.

If the price breaks out and sustains above $47.2460, it will indicate a probable bottom. The 20-day EMA has flattened out, and the RSI has also climbed close to the midpoint. This shows that the bulls are at an advantage in the near term.

Traders can buy on a weekly close (UTC time frame) above $47.2460, and keep a stop loss below $29 initially. This can be trailed higher to $40 within the next several days. The target to watch on the upside is $69, and above it $94.

However, if the digital currency fails to sustain above $47.2460, it can again turn down and correct to $40, and below it to $29.

XRP/USD

Ripple (XRP) got listed on the Coinbase Pro trading platform on Feb. 25. On Feb. 28, Coinbase announced support for the digital currency on its retail platform and mobile apps.

Nasdaq is also planning to list a separate index tracking the price of Ripple. The Thai Securities and Exchange Commission has included Ripple in the list of tokens suitable for initial coin offerings.

While some believed that Ripple had to offer Coinbase a certain incentive or money to get listed, the company has denied it. Although there was a lot of talk about JPM, the recently announced stablecoin by JPMorgan Chase, a research by Binance has concluded that it will not be a threat to Ripple’s XRP token in the near term.

XRP/USD

The XRP/USD pair continues to trade inside a descending channel. It is currently attempting to rise after taking support at $0.27795. However, it is facing selling close to the 20-week EMA.

A rise above this could push the price to the resistance line of the descending channel near $0.40. A breakout and close (UTC time frame) above the channel will indicate a change in trend.

On the other hand, if the bulls fail to break out of the 20-week EMA, the bears will again try to break down of $0.27795. A drop below the support zone of $0.24508 –$0.27795 will resume the downtrend.

DASH/USD

Dash has been a popular mode of transaction in Venezuela and continues to gain ground. Church’s Chicken Venezuela fast food chain accepts the coin in 10 of their 13 locations. It also keeps launching promotional activities in collaboration with Dash to attract more people towards using the cryptocurrency.

Brazilian crypto exchange CoinBene has integrated Dash, giving the coin an opportunity to expand its presence in the country.

DASH/USD

The DASH/USD pair has been trying to form a base for the past few weeks. The price is currently stuck between $56.214 on the downside, and $103.261 on the upside. The 20-week EMA is also just above the range. Hence, a breakout of the 20-week EMA is likely to attract buying that can propel the price towards $175, and above it to $224.

On the other hand, if the price fails to break out of the resistance of the range, it will consolidate for a few more weeks.

The trend will turn negative if the bears push the price below the support of $56.214. We could not find any reliable trade setups at the current levels.

Market data is provided by the HitBTC exchange. Charts for analysis are provided by TradingView.

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Top Cryptocurrencies Mostly in the Red, Bitcoin Falls Below $3,900 Again

Most of the top 20 cryptocurrencies are reporting discreet losses, with Bitcoin worth less than $3,900 again.

Sunday, Dec. 30 — most of the top 20 cryptocurrencies are seeing discreet losses while a few report discreet gains. Bitcoin’s (BTC) price is under $3,900 again, according to Coin360 data.

Market visualization

Market visualization from Coin360

At press time, Bitcoin is down a fraction of a percent on the day, trading at around $3,880. Looking at its weekly chart, the current price is substantially lower than the Monday’s high of $4,271, and also lower than $4,011, the price of BTC one week ago. Moreover, the current price is still substantially up from $3,642 — the mid-week low registered Friday.

Bitcoin 7-day price chart

Bitcoin 7-day price chart. Source: CoinMarketCap

Ripple (XRP) — the second largest cryptocurrency by market capitalization — remained relatively stable on the day, trading at about $0.399 as of press time.

On the weekly chart, the current price is higher than $0.367, the price at which the coin started the week. However, the current price is also notably lower than the mid-week high of $0.446 reached on Monday.

Ripple 7-day price chart

Ripple 7-day price chart. Source: CoinMarketCap

Ethereum (ETH) remains the third-largest cryptocurrency by market cap, but the divide between Ripple and ETH is decreasing. Ethereum’s market cap is currently $14.380 million, while Ripple’s is $14.936 million.

Ethereum has seen over a 2 percent of increase of value over the last 24 hours. At press time, ETH is trading at around $139, having started the day at $136. On the weekly chart, the current price is higher than $129 — which was the value of ETH on last Sunday — but also lower than the Monday high of $157.

Ethereum 7-day chart

Ethereum 7-day chart. Source: CoinMarketCap

Among the top 20 cryptocurrencies, the only ones reporting gains — other than Ethereum — are EOS and Dash (nearly 3 percent), Cardano (1 percent), and NEM (up three quarters of a percent). The biggest gainer of the day is NEO, which is up nearly three and a half percent at press time.

The combined market capitalization of all cryptocurrencies — currently equivalent to about $130 billion — has lost about $3 billion this week, but regained about $10 billion since its mid-week low of $120 billion. Moreover, the total crypto market cap also lost about $17 billion since its $147 billion weekly high reported on Monday.

Total crypto market cap 7-day chart

Total crypto market cap 7-day chart. Source: CoinMarketCap

As Cointelegraph recently reported, graphics processing unit (GPU) producer Nvidia is facing a class action lawsuit over the losses reported after the cryptocurrency market downturn diminished demand for GPUs by miners. After the mining crash, the company’s stock price lose 54% of its value and became the worst S&P 500 performer.

As well, leading mining ASIC producer Bitmain is reportedly planning to lay off over 500 of its employees and cease its mining operation, as the company’s CEOs were reported in Chinese media as allegedly set to resign.

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Church’s Chicken Starts Accepting Dash in Venezuela After KFC Confusion

U.S. fast food chain Church’s Chicken has started accepting Dash payments at its locations in Venezuela.

American fast food chain Church’s Chicken has started accepting payments in cryptocurrency Dash (DASH) at its locations in Venezuela, according to an official Facebook announcement on Dec. 12.

According to Dash News, the cryptocurrency is accepted in all 10 restaurant locations. Dash has also completed ts first transaction in Church’s Chicken and uploaded a video of the event on its official YouTube channel. The restaurant claims to be the first global fast food chain to accept payments in crypto.

The announcement from Church’s chicken follows some confusion regarding the acceptance of Dash at major fast food vendors in Venezuela. On Dec. 7, PR and media director at DashNews Mark Mason posted a tweet stating that KFC Venezuela would start accepting Dash payments the following week.

Later KFC Venezuela denied the news, stating that processing payments with Dash “is not a fact, nor has the publication of any news about it been authorized.”

Shortly after Dash Merchant Venezuela posted a public apology on its Twitter account. It said that the statement was premature and reflected optimism rather than the current stage of discussions with KFC Venezuela. However, both Dash and KFC confirmed that they are in negotiations regarding the possibility of crypto payments.

In January 2018, KFC Canada introduced a PR stunt, in which it offered a “Bitcoin Bucket” of fried chicken, which could only be purchased with Bitcoin (BTC). KFC announced the promotion in a tweet stating:

“Sure, we don’t know exactly what Bitcoins are, or how they work, but that shouldn’t come between you and some finger lickin’ good chicken.”

As Cointelegraph reported in August, CEO of Dash Core Group Ryan Taylor said that Venezuela had become the second largest market for Dash, with almost one hundred merchants accepting the cryptocurrency each week.

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KFC Venezuela Denies Accepting Dash Payments

KFC Venezuela has reportedly denied that it will soon accept Dash payments, but has confirmed negotiations with the company.

The CEO of KFC Venezuela, Antonio Sampayo, has denied a recent announcement that it will start accepting major altcoin Dash (DASH), Spanish language crypto media Criptonoticias reports Monday, Dec. 10.

Sampayo explained that KFC had discussed a crypto-related test with Dash, but the contract has not yet been finalized. He also said that processing payments with Dash “is not a fact, nor has the publication of any news about it been authorized.”

On Friday, Dec. 7, the PR and media director at DashNews Mark Mason posted a tweet stating that KFC Venezuela would start accepting Dash payments the following week.

The video attached to the tweet said that the country’s capital Caracas will be the first city to test a crypto-powered payment system in one of its biggest KFC restaurants with 24 other KFC locations across the country to follow.

According to the announcement, more than 2,400 merchants in Venezuela accept Dash, including other major fast-food chains like Subway and Papa John’s. Per a recent report from Forbes, Alejandro Echeverría, a co-founder of Dash Help, Dash Merchant Venezuela and Dash Text, Venezuelans use Dash because it provides an easy method of completing payments. He also stated that the cryptocurrency was mainly used by small family businesses before spreading to bigger firms.

In August, CEO of Dash Core Group Ryan Taylor revealed that Venezuela had become the second largest market for Dash, with almost one hundred merchants accepting the cryptocurrency each week.

In early 2018, KFC Canada featured a new menu item dubbed “Bitcoin Bucket,” which could be bought exclusively with Bitcoin (BTC).

With additional reporting by Helen Partz

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CEO: Dash (DASH) To Survive Crypto Winter, “Not At Risk of Shutdown”

Dash (DASH) “Not At Risk Of Shutdown” In Crypto Collapse

In 2018’s crypto bear market, Dash Core Group (DCG), the consortium behind the DASH altcoin, has seemingly gone silent on a public stage, with there being little-to-zero propagation of news regarding the once much-hyped project. And as such, some skeptics have deemed the project “dead.” Yet, in a recent Medium post, Ryan Taylor, CEO of DCG, exclaimed that his startup is “sustainable” and will survive the crash in Bitcoin (BTC) prices.

In the post, which can only be deemed a ‘wall of text’, Taylor first gave some context to crypto’s recent collapse, calling out the Bitcoin Cash debacle (he called it “FUD”) as a key catalyst. The DCG chief then noted that there a number of startups likely “shutting down quietly, running on fumes, or burning through distressed ICO funds,” before adding that his firm doesn’t fall into this unfortunate category.

Taylor exclaimed that DCG “is not at risk of shutting down anytime soon,” nor has fears of laying off a substantial amount of staff, due to a “significant [capital/fiat] buffer” it has built up for itself to account for crypto’s enamorment with parabolic swings and killer drawdowns. Through the following paragraphs, which were countless, the DASH proponent accentuated the logistics of DCG’s buffer, along with its operations so far and ambitions for the future. And while the topics covered varied wildly, an underlying theme of perseverance and survival was evidently referenced throughout Taylor’s post.

Even in tweets prior to the aforementioned blog, Taylor outlined why Dash’s ecosystem continues to boom. The industry savant drew attention to a number of developments, including booming DASH wallet download statistics, strong trading volume, and a recent successful network stress test. Keeping this all in mind, the prominent cryptocurrency advocate, concluding his comments on the matter, wrote:

In short, the network keeps growing despite the price declines and the reduced speculation. Proud to see the strategy working on the metrics that determine long-term success. Heads down… we are getting there!

At the time of writing, DASH is up to $77.15 U.S. dollars a piece, with the asset posting a jaw-dropping 11.5% in the past 24 hours.

Not All Crypto Startups Have Survived The Massacre

While DCG seems slated to survive, or even thrive in the ~85% market decline, not all startups and prominent upstarts in this ecosystem have been all too lucky.

As reported by Ethereum World News previously, ETCDEV, an essential player in the Ethereum Classic ecosystem, announced its closure on December 3rd, 2018. Through a tweet, Igor Artamonov, the founder and chief technology officer of the prominent development consortium, wrote:

Although the ETCDEV executive cited a lack of sustainable financing, this message comes just days after Artamonov released a Medium article lambasting one of his peers for being a “Trojan Horse” for another team. Regardless, the fact of the matter is that Ethereum Classic (ETC) remains heavily wounded after this occurrence, as the project lost its primary development team.

The sad collapse of ETCDEV comes just days after Steemit, the company behind the (somewhat) decentralized social media platform that shares its name, revealed it was undergoing a business reorganization, purging 70% of its employees.

Per previous reports from Ethereum World News, Ned Scott, CEO of Steemit, said on the matter:

“While we were building up our team over the last months, we had been relying on projections of basically a higher bottom for the market… Since that’s no longer there we’ve been forced to lay off more than 70% of our organization.”

He explained that as Steemit’s top brass met, amid worsening market conditions, it became logical that a staff restructuring at the private startup was necessary. Interestingly, Scott failed to divulge an exact headcount pre- and post-purge, making it difficult to discern how many were affected.

SpankChain, an adult entertainment platform centered around blockchain, recently saw its CEO take to Reddit to announce that it, as well as Steemit, had downsized drastically. The project head noted that the SpankChain project now hires a mere eight individuals, and has reduced its burn rate from $200,000 to $80,000 per month.

Title Image Courtesy of Ryan Graybill on Unsplash

The post CEO: Dash (DASH) To Survive Crypto Winter, “Not At Risk of Shutdown” appeared first on Ethereum World News.

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Market Mayhem: Bitcoin Sinks Below $3.4K, Ethereum Plummets to Double Digits

Crypto markets have today again taken a major downturn, with virtually all of the major coins by market cap seeing double digit losses — some as high as over 20 percent.

Friday, Dec. 7 — Crypto markets have today again taken a major downturn, with virtually all of the major coins by market cap seeing double digit losses. Some coins are down by over 20 percent, as data from Coin360 shows.

Market visualization

Market visualization by Coin360

Bitcoin (BTC) has taken a steep hit of over 11 percent on its 24-hour chart, and is trading at $3,400 as of press time. Having attempted to reclaim ground above the $4,000 price point in early December — to briefly trade close to $4,300 — the top coin’s recovery has failed to hold, and the asset has seen stepped losses in the days before today’s dizzying tumble.

On the week, Bitcoin is now down by around 20.5 percent; monthly losses are at a severe 47.3 percent.

Bitcoin 7-day price chart

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

Second-largest crypto by market cap Ripple (XRP) is down by around 12 percent on the day, trading at almost $0.30 as of press time, according to Cointelegraph’s Ripple Price Index. Ripple’s weekly and monthly charts are also blisteringly red, with losses of around 23.5 and 40 percent respectively.

Ripple 7-day price chart

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

Third-ranked crypto by market cap Ethereum (ETH) has fared even worse, with 24-hour losses pushing 16 percent as of press time. The top altcoin is down to double-digit value, currently trading at $84. On the week, Ethereum down by 31.4 percent; monthly losses are close to 60 percent.

Ethereum 7-day price chart

Ethereum 7-day price chart. Source: CoinMarketCap

Virtually all of the remaining top ten coins on CoinMarketCap are seeing deep red; Stellar (XLM) and Bitcoin Cash (BCH) are both down almost 18 percent, at $0.11 and $102.3 respectively; eighth largest ranked crypto Litecoin (LTC) is down close to 15 percent, trading at $25.3, and EOS (EOS) is the hardest hit, down almost 23 percent on the day at $1.68.

Newly-forked “Bitcoin SV” (BSV) is the only exception among the top ten, soaring 20 percent on the day to trade at around $109, sealing the ranking of 5th largest crypto. With a market cap of around $1.94 billion as of press time, BSV is holding a slim margin ahead of BCH; the latter, ranked 7th, currently has a market cap of about $1.77 billion.

Just yesterday, news broke of a new lawsuit from tech development firm UnitedCorp against Bitmain, Bitcoin.com, Roger Ver, and the Kraken Bitcoin Exchange, which alleges the defendants engaged in manipulation and unfair practices during the immediate aftermath of the BCH-BSV hard fork.

The remaining coins in the top twenty by market cap are all seeing losses of between a 8 and 22 percent range.

IOTA (MIOTA) is down over 16 percent to trade at $0.22: Binance Coin (BNB) is down just under 20 percent at $4.56, and privacy-focused alts Monero (XMR) and ZCash (ZEC) are down 14.5 and 20 percent respectively.

Similar losses have hit Dash (DASH) and Neo (NEO): with the former down 21.7 percent at $61.33, the latter 17.4 percent at $5.85.

Dogecoin (DOGE), ranked 20th, is the “strongest” 24-hour performer, down 2.6 percent at $0.0021.

Total market capitalization of all cryptocurrencies is atca around $107.1 billion as of press time, down around 20 percent since the start of its weekly chart, when it was close to $136 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

With the markets unremittingly bleak, the United States Securities and Exchange Commission (SEC) has meanwhile yet again postponed its decision on the high-profile Bitcoin (BTC) exchange-traded fund (ETF) from investment firm VanEck and blockchain company SolidX.

A new deadline of the end of February 2019 has now been set; SEC commissioner Hester Peirce — who earned the moniker of “Crypto Mom” for her dissent over the SEC’s decision to reject a Bitcoin ETF proposed by the Winklevoss twins — told investors this week; “Don’t hold your breath” awaiting a BTC ETF approval.