Posted on

China’s 11th Crypto Rankings: EOS First, TRON Second, Ethereum Third, Bitcoin Fifteenth

China has released its latest government-sponsored rankings of major cryptocurrencies.

China has released its latest government-sponsored rankings of major cryptocurrencies on March 22, placing Bitcoin (BTC) in 15th, while EOS keeps its top spot. Tron (TRX) came in second, after overtaking Ethereum (ETH) in February.

The crypto rankings by China’s Center for Information and Industry Development (CCID) were first announced in May last year. In this eleventh edition of the index, EOS has remained as the top-ranked blockchain, a place occupied by the platform since June 2018.

The eleventh CCID Global Public Chain Technology Evaluation Index puts Tron on the second spot, as did the tenth edition. The ninth edition had previously placed Ethereum in the second spot, while Tron wasn’t present at all on the list.

In the tenth edition, Bitcoin had moved from number 15 to number 13, now falling back down two spots to occupy 15th place again.

As Cointelegraph recently reported in a dedicated analysis, EOS is seemingly still a work in progress, as the blockchain has seen controversy over some aspects of its allegedly centralized governance system.

Two major crypto exchanges — Singapore-headquartered Huobi Global and Malta-based OKExproclaimed their support for the Tron-based version of stablecoin Tether this week. At the beginning of the current month, Tron and Tether had first announced their intention to introduce the USDT to the Tron network.

Recently, Cointelegraph reported that Ethereum is being used by a North Korean political dissident group, the Cheollima Civil Defense, to sell tokenized visas for entering the country once it is supposedly liberated.

Posted on

Ethereum (ETH), EOS, and Tron (TRX) Users Will Be Able to Interact With Each Other Thanks to Loom Network

Deciding which blockchain will be most suitable for a Dapp
is the most critical choices of any developer; however, the Loom Network team
seems to have achieved the dream of interoperability that kept many developers
and enthusiasts fantasizing on social networks (and working hard to make it
happen).

In an announcement published on its official blog, the Loom Network team explains that thanks to the development of PlasmaChain, dAPPS running on Tron and EOS will be able to communicate smoothly with each other, and interact with Ethereum (the blockchain on which PlasmaChain runs).

Over the coming weeks, Loom Network will be releasing integrations for Tron and EOS into PlasmaChain – effectively allowing DApp developers to offer their DApps to users on all three chains simultaneously.

Loom’s team says they took a blockchain-agnostic approach, to develop a product that would be useful for as many users as possible, but they are aware that such a decision “is bound to ruffle a few feathers.”

Loom Network developed PlasmaChain as a “universal layer 2” that will make it possible to share data among TRX, EOS and ETH users. Image Courtesy: Loom

Although Ethereum is the second most important blockchain in the ecosystem, the growth of other DApp-oriented blockchains is undeniable. Coming up with a solution that allows developers to expose their product to users of “rival” blockchains without having to do any kind of reprogramming is a wise decision, both economically and technologically .

Bottom line is, DApp developers want the maximum number of users possible using their DApps and spending money on their services- and they’re going to gravitate toward whichever platform offers that.

The Loom Network team explains that PlasmaChain
generates a kind of common ground in which, from a user’s perspective, it is
irrelevant to decide which blockchain to use, since anybody can access the DApp
and pay with any token (ETH, EOS, TRX, or any ERC20 token). According to the
developers, PlasmaChain is a kind of “universal layer 2”.

In other words, Ethereum, EOS, and Tron users will be able
to interact as seamlessly with PlasmaChain DApps as if they were native
DApps on each of those platforms.

Loom network allows users to “make a purchase transaction on Layer 1 Ethereum, and receive the purchased game item (or other digital asset) on Layer 2. This operation takes less than 3 seconds and does not have additional costs associated.

The Loom team has not announced an official release date,
however, according to their statements, PlasmaChain should already be in a phase
of final development.

The post Ethereum (ETH), EOS, and Tron (TRX) Users Will Be Able to Interact With Each Other Thanks to Loom Network appeared first on Ethereum World News.

Posted on

Bitcoin, Ethereum, Ripple, Litecoin, EOS, Bitcoin Cash, Binance Coin, Stellar, Tron, Cardano: Price Analysis, March 22

If the crypto markets bottom out, volumes will pick up. Let’s look at the charts, and see where major coins are heading in the short term.

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

Market data is provided by the HitBTC exchange.

The crypto markets are eagerly awaiting the launch of institutional trading platform Bakkt. Its launch is expected to attract large investors whose involvement is needed to propel markets to the next level. Without even starting operations, investors are already valuing it at $740 million. This is likely to increase further if it can generate large volumes. However, some investors doubt whether it can live up to its expectations and earn enough to justify its valuations.

The volumes of the crypto exchanges have been under the scanner as The Tie published a report recently, which suggested that most reported volumes are fake. This puts the total volume of LBank and Bit-Z — which have overtaken the leading exchange Binance — in question.

As the market matures, fake reporting is likely to be severely dealt with, as seen in the case of South Korean cryptocurrency exchange Komid, where two of its leaders were handed a jail sentence.

If the crypto markets bottom out, volumes will pick up. Let’s consult the charts and see if we find a new uptrend in any of the major cryptocurrencies.

BTC/USD

Bitcoin (BTC) has been crawling higher for the past few days, but it is yet to make a dash towards the overhead resistance of $4,255. On the downside, it is taking support at the 20-day EMA and below it at the uptrend line. Both the moving averages are trending higher and the RSI in positive territory, which indicates that the bulls have the upper hand.

BTC/USD

If the BTC/USD pair does not scale $4,255 within the next few days, traders are likely to book profits that will drag prices lower. Aggressive bears might also initiate short positions if the pair fails to rise above the overhead resistance.

A breakdown of the 20-day EMA will be the first signal that the bulls are losing their grip. The bears will be back in the driver’s seat if the price sustains below the 50-day SMA. Critical levels to watch on the downside are $3,355 and below it $3,236.09. If the bears sink the digital currency below $3,236.09, it will hurt sentiment and result in panic selling, dragging prices lower.

The cryptocurrency will pick up momentum above $4,255 because it will complete a double bottom pattern that has a target objective of $5,273.91. Traders can trail the stops on the long positions higher to $3,550, in order to reduce the risk.

ETH/USD

Ethereum (ETH) has formed a small ascending triangle inside a larger ascending triangle pattern. The smaller ascending triangle will complete on a breakout and close above $144.78. The pattern target of this breakout is $163.68, but we anticipate the price to move up to $167.32. On a close above $167.32, the larger ascending triangle will complete that has a pattern target of $251.64.

ETH/USD

However, a breakdown of the 50-day SMA will invalidate the small ascending triangle and can result in a fall to the trendline of the larger ascending triangle. On a break below this, the bullish pattern will be negated and the ETH/USD pair can fall to $102.49.

The 20-day EMA has flattened out and the RSI is close to the midpoint, which suggests consolidation in the near term. Traders can keep a stop loss of $125 on the remaining long positions.

XRP/USD

There is hardly any volatility in Ripple (XRP). It continues to trade close to the moving averages. The attempt to breakdown of the uptrend line of the ascending triangle found buyers at lower levels on March 21. The price is again back above the trend line.

XRP/USD

If the support breaks, the XRP/USD pair can dip to $0.27795. We expect a strong support at this level, but if this also breaks, the next support to watch out on the downside is $0.24508. The flat moving averages and the RSI close to 50 suggests consolidation for a few more days.

On the other hand, if the pair bounces off the current levels, it can move up to $0.33108, above which a rally to the resistance line of the channel is probable. A move above the channel will signal a trend change and can carry the price to $0.40. Traders can keep the stops on the long positions below $0.27795.

LTC/USD

Litecoin (LTC) is currently stuck between $56.910 and the resistance line. The bulls have held the support but have failed to push the price above the overhead resistance. Both the moving averages are sloping up and the RSI is still in the positive zone. This suggests that the path of least resistance is to the upside. However, the failure of the RSI to break out of the negative divergence is concerning.

LTC/USD

On a breakdown of the 20-day EMA, the LTC/USD pair can correct to the 50-day SMA. Therefore, traders can trail the stops on 50 percent of the remaining long positions to $55 and keep the rest at $52. If the pair bounces off the current levels and scales above $62.45, it can rise to $69.2790.

EOS/USD

EOS has again failed to break out of the overhead resistance at $3.8723. This is a negative sign. The bears are now likely to attempt to sink the digital currency to the 50-day SMA.

EOS/USD

If the EOS/USD pair plummets below the support of the 50-day SMA and $3.1534, it will weaken and can drop to $2.1733. Therefore, traders can keep the stops on the remaining long positions at $3.10.

If the pair bounces off the current levels or the 50-day SMA and breaks out of $3.8723, it can move up to $4.4930. However, the 20-day EMA has flattened out and the RSI has also dipped to the midpoint. This suggests a range formation in the near term.

BCH/USD

Bitcoin Cash (BCH) has turned down from the overhead resistance of $163.89. The positive thing is that it did not break down of the 20-day EMA.  

BCH/USD

Both the moving averages are gradually sloping up and the RSI is in positive territory. This suggests that the bulls are in command. If the BCH/USD pair rebounds sharply from the current levels or from the 20-day EMA and breaks out of $163.89, it can rally to $175 and above it to $220.

However, if the pair plunges below the 20-day EMA, it can slide to the 50-day SMA. Therefore, traders can trail the stop loss on the long positions at $140.

BNB/USD

Profit booking in Binance Coin (BNB) pushed its price below the uptrend line, but the bulls are currently attempting to defend the 20-day EMA and push the price back above the uptrend line.

BNB/USD

The 20-day EMA is flattening out while the 50-day SMA remains strong. This indicates that the bulls are losing steam in the short term. A fall below the 20-day EMA will weaken the BNB/USD pair that can drag it to the 50-day SMA.

On the other hand, if the pair bounces from the current levels and rallies above $16.6442826, it can resume its uptrend and rally to $18. For now, traders can hold the remaining long positions with stops at $14.

XLM/USD

Stellar (XLM) has corrected to the 20-day EMA where it is finding some support. Both the moving averages are flattening out, which points to a consolidation in the near term.

XLM/USD

If the XLM/USD pair breaks down of the 20-day EMA, it can drop to the 50-day SMA. The uptrend line is just below this level. We anticipate the bulls to defend the zone between the 50-day SMA and the uptrend line.

Conversely, if the pair bounces off the 20-day EMA, it can move up to the resistance line. A breakout of this level can push the price to $0.14861760. The traders can keep the stops on the long positions at $0.08.

TRX/USD

Tron (TRX) turned down from the 20-day EMA on March 22. Both the moving averages are sloping down and the RSI is also in the negative zone. This shows that the bears are at an advantage.

TRX/USD

The bears will try to sink the TRX/USD pair to $0.01830 if the support at $0.02094452 cracks. On the other hand, the bulls will try to reverse direction from the current levels and scale above the moving averages. If successful, it can reach the top of the range at $0.02815521. If the pair sustains above the range or bounces off strongly from $0.01830, we might suggest long positions. Until then, we remain neutral.

ADA/USD

After consolidating for almost three months, Cardano (ADA) has scaled above our recommended buy level of $0.05650. We like the way the digital currency has risen after forming a large basing pattern. It should now rally to its first target objective of $0.066121, followed by a move to $0.080.

ADA/USD

Both the moving averages have started to trend up and the RSI has reached overbought levels. This shows that the bulls have the upper hand. On any dip, the ADA/USD pair should find support at $0.051468 and below that at the 20-day EMA. If both these supports break, the pair will lose momentum and might become range-bound once again. Therefore, traders can trail their stops higher to $0.048.

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

Posted on

Bitcoin, Ethereum, Ripple, Litecoin, EOS, Bitcoin Cash, Stellar, Binance Coin, Tron, Cardano: Price Analysis, March 20

Another multi-million dollar token sale that sold out in minutes on Binance Launchpad shows that appetite for new coins with strong use cases is returning.

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

Market data is provided by the HitBTC exchange.

Binance Launchpad completed the sale of $4 million in Celer Network (CELR) tokens within 17 minutes and 35 seconds. This is the third such successful launch by the company. This shows that the market appetite is increasing for new coins that strong use cases.

Avnet, Inc, distributors of electronic components and technology solutions providers and Swiss online retailer Digitec Galaxus will accept cryptocurrencies. We expect many other players to go down the crypto path in the future. This will help bring crypto to the masses and realize the potential of crypto as a medium of exchange.  

Blockchain and cryptocurrencies are path-breaking technologies. However, it is difficult to change the attitude of the people accustomed to using outdated systems and platforms. To give the nascent space a favorable push among the lawmakers, the number of lobbyists working on blockchain technology issues in Washington D.C. tripled in 2018.

Though fundamentals have been improving, the price of cryptocurrencies has been slow to respond. Nevertheless, a few major digital currencies have risen sharply from the yearly lows. Are they good for more, or will the rally stall? Let’s find out.

BTC/USD

Bitcoin (BTC) has been trading in a tight range between $3,950 and $4,035 for the past three days. Usually, a tight consolidation is followed by a range expansion. We expect the bulls to propel the price towards the overhead resistance of $4,255. This level will also act as a stiff resistance. But if the digital currency breaks out and sustains above $4,255, it will complete a double bottom pattern that has a target objective of $5,273.91.

Both the moving averages are sloping up and the RSI is in positive territory. This shows that the bulls have the upper hand.

Contrary to our expectation, if the BTC/USD pair turns down from the current levels and breaks below the uptrend line, it can dip to the 50-day SMA. If this support also breaks, a fall to $,3575 is probable.

The trend will turn negative on a breakdown to new yearly lows. Such a move will dent the sentiment and can prolong the existing bear market. Therefore, traders can keep the stop loss on the long positions below $3,236.09.

ETH/USD

Ethereum (ETH) is holding the 20-day EMA for the past two days. But it has failed to breakout and rally above $144.78. We anticipate a strong decisive move within the next few days.

If the bulls scale $144.78, a quick rally to $167.32 is likely because there is no resistance in between these two levels. On a close (UTC time frame) above $167.32, the ascending triangle pattern that has a target objective of $251.64 will complete.

Conversely, if the bears sink the ETH/USD pair below the 50-day SMA, a fall to $116.3 is probable. Traders can protect the remaining long positions with stops at $125.

XRP/USD

Ripple (XRP) continues to consolidate in a tight range. This shows a balance between buyers and sellers. The flat moving averages and the RSI close to 50 suggests that the range bound action might continue for a few more days.

The next trending move will start either on a breakout of the overhead resistance of $0.33108 or a breakdown from the uptrend line of the ascending triangle.

On the upside, the target levels to watch out for are the resistance line of the descending channel and above it $0.40. Above this level, the XRP/USD pair is likely to pick up momentum. On the downside, $0.27795 is an important support, below which the slide can deepen to $0.24508. Therefore, traders can retain the stops on the long positions below $0.27795.

LTC/USD

Litecoin (LTC) is trying to bounce off the support at $56.910. If the bulls can push it above $62.45, it will indicate strength. The next level to watch on the upside is $65.561 and above it $69.2790.

Both the moving averages are sloping up, which shows that the bulls have the upper hand. Still, we continue to watch the negative divergence on the RSI closely.

If the LTC/USD pair reverses direction and plummets below the 20-day EMA, it can drop to the 50-day SMA. Therefore, we suggest traders keep the stop loss on the remaining long positions at $52.

EOS/USD

The bulls again bought the dip below the 20-day EMA, which indicates demand at lower levels. However, EOS is facing resistance close to $3.8723. The price is largely stuck between these two levels. We expect the digital currency to break out of the overhead resistance or break down of the 20-day EMA within the next few days.

On a breakdown below the 20-day EMA, the EOS/USD pair can slide to the 50-day SMA and below it to $3.1534. We anticipate a strong support around these levels, hence, we propose a stop loss of $3.10 on the remaining long positions.

Conversely, if the bulls push the price above $3.8723, a rally to $4.4930 is probable. The up-sloping moving averages and the RSI in the positive territory suggest that the path of least resistance is to the upside.

BCH/USD

Bitcoin Cash (BCH) has been trading close to the overhead resistance of $163.89 for the past three days. This shows that the bulls are in no hurry to book profits. The moving averages have started to slope up gradually and the RSI is close to the overbought zone. This shows that the bulls are in command.

A breakout and close above the BCH/USD pair will carry the price to $175 and above it to $220. Eventually, we expect the pair to reach the stiff overhead resistance of $239. Therefore, traders can keep the stop loss on their long positions at $116.

Contrary to our assumption, if the digital currency turns down from the current levels, it can correct to the 20-day EMA and below it to the 50-day SMA.

XLM/USD

Stellar (XLM) rallied to the resistance line on March 18 but could not break out of it. Profit booking has again pushed the digital currency back into the range. However, the 20-day EMA is sloping up and the RSI is close to the overbought zone. This suggests that the bulls are at an advantage.

If the XLM/USD pair breaks out of the resistance line, it can rally to $0.13250273 and above it to $0.14861760. We expect the 20-day EMA to act as a support on any dip.

Our bullish assumption will be negated if the pair plunges below the 20-day EMA and slides to the 50-day SMA. For now, traders can retain the stops on the long positions at $0.08. We shall soon trail it higher to $0.10.

BNB/USD

Binance Coin (BNB) has dipped below $15.9100517 and is retesting the support at $15. The small uptrend line also lies at this level and the 20-day EMA is just below it. We expect this support zone between $15 and the 20-day EMA to hold.

Both the moving averages are trending up and the RSI is close to the overbought zone. This suggests that the bulls are in command.

If the BNB/USD pair rebounds from the support zone, it will again attempt to break out of the overhead resistance and move towards its target objective of $18. On the other hand, a breakdown of the 20-day EMA can sink the price to the 50-day SMA. Traders can, therefore, keep the stop loss on the remaining long positions at $14.

TRX/USD

Tron (TRX) has been trading close to the 20-day EMA for the past six days. The small trading ranges suggest a balance between buyers and sellers. However, this is unlikely to continue for long. We should see an increase in volatility within the next few days.

A breakout of the 20-day EMA can carry the TRX/USD pair to the critical overhead resistance of $0.02815521. If the bulls break out and sustain above the range, the pair is likely to start a new uptrend.

On the other hand, if the digital currency turns down from the current levels, it can drop to $0.02094452 and if this level also breaks, the slide can stretch to $0.01830.

ADA/USD

Cardano (ADA) has again risen above the overhead resistance of $0.051468. This is the second time the bulls have scaled the resistance within four days. Now, if the price moves above $0.05650, it is likely to start a new uptrend.

The first target on the upside is $0.066121, above which the move can extend to $0.080. Therefore, traders can initiate long positions above $0.05650 and keep a stop loss at $0.044. We shall soon trail it to $0.048.

Our bullish view will be invalidated if the ADA/USD pair falls back into the $0.036815 to $0.051468 range. Such a move will extend the consolidation for a few more weeks.

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

Posted on

Neither Dominant Nor Defeated, EOS Still a Work in Progress

Despite a billion-dollar valuation, an EOS glitch shows the pitfalls of blockchain for finance.

Blockchain projects that comprise the greater cryptocurrency sector’s market cap are unquestionably bootstrapped — a product of ingenuity and crowdsourced blockchain fundraising.

But with the industry evolving further in the last few years, gaps between mature projects and less developed ones are more noticeable, exhibited by issues that a well-funded or more thorough team of development experts could avoid. The latest example of this came from EOS — a competitor with Ethereum — when a user figured out how to broadcast a fake transaction to the network for 1 trillion EOS (a single transfer for $3.6 trillion).

While the incident was entirely harmless, it cast doubts on the sanctity of a platform that’s meant to oust Ethereum from its position as the de facto decentralized computer. Using an exploit in an EOS idea called deferred transactions, the user set up a payment that would be settled at a later date — and it was published to the network, even though it was 1,000 times as large as the EOS market cap itself.

EOS block producers EOS New York noted that the transaction that created the deferred incident can only determine whether the create request was submitted or whether it failed, thus getting around the limitations. Once that happened, “it is subject to normal validity checks.” These events cast the upstart “Ethereum-killer” in a less-than-positive light, but they do create an opportunity for an updated, in-depth look into this promising platform.

The EOS evolutionary timeline

EOS is an auspicious blockchain project and remains a top market contender, vying for fifth on the list of top market capitalizations at any given moment. It began as a competitor to Ethereum in 2017, arriving as that solution began demonstrating issues with scaling and transaction speed. EOS had similar ideas: decentralized storage, bandwidth and incentives. In turn, EOS announced its intention to create a similar idea to Ethereum but with a different consensus, mining and other foundational concepts that would solve Ethereum’s transactional bottlenecks.

The initial coin offering (ICO) for EOS was astoundingly successful, thanks to its ambitious timeline, outlook and circumstantial trends. It garnered over $4 billion worth of ETH, setting records but, at the same time, demonstrating the inflated the value of most cryptos and the sector’s unsustainable optimism.

EOS’s founding team, Block.one, accordingly owned one of the fattest ETH wallets, using it it to push EOS through several releases and upgrades, sponsor international partnerships, launch a bug-bounty program, and deliver a working mainnet. The latest release, EOS 1.6, released in January 2019, brought with it upgrades including enhanced tools for smart contract development and faster remote data processing.

DApps on EOS are plentiful, and many of the most-used DApps are from EOS rather than competitors like Tron and Ethereum. While games such as BetHash and PokerEOS find audiences, blockchain development companies like LiquidApps use EOS as their permanent sandbox — and not only make working with it more fluid, but have also released new platforms like vRAM, which is a decentralized, Video RAM storage solution that is much more efficient than any alternatives.

However, various successes of the EOS platform aren’t substantial enough to hide its flaws. LiquidApps CEO and co-founder Beni Hakak notes about EOS that “blockchains today don’t yet scale. EOS […] which has solved many issues on the transaction speed side, still has resource limitations which are critical for the extensive dApp developer that is so needed for user adoption.”

Though several DApps have been deployed, the platform has been found lacking in many ways in 2019 alone, and the circumstances of its existence beg serious questions about the blockchain fundraising model and the ability of other firms to produce innovations reliably.

Peter Todd, who has expressed bearish views on EOS at times, claims that the platform’s problems are features rather than bugs. Speaking of EOS’ scalability, Todd notes that “it was more likely than not deliberately designed to be terrible,” so that it would make it difficult to access the validator set, due to its permissioned nature. The result is less competition and an unscalable platform.

EOS exploits display blockchain discrepancies

The bug bounty program launched by EOS came in handy this year, though its effectiveness had the secondary consequence of revealing just how fickle the platform remains. A Chinese cybersecurity firm found a false top-up vulnerability that would allow hackers to deposit EOS tokens into certain exchanges and wallets without actually transferring them. Several buffer overflow vulnerabilities were also found in EOS repositories, and the company has already paid in excess of $50,000 to white-hat hackers in the first three months of 2019.

EOS is also one of the primary projects used as an example of counterproductivity and paradoxical ideas in the blockchain fundraising sphere. With well over $4 billion in ETH in the mid-2017 bull market, the then-tiny project was worth more than many multinational corporations — and all without a real product.

Furthermore, companies that fund themselves with cryptocurrency are stuck with volatile balance sheets by the nature of their ICO, and must therefore sell to have more fungible and predictable working capital. This has raised questions about how funded blockchain projects represent a liability for the value of their blockchain’s underlying currency, with EOS one of the stronger sell pressures as the market receded in the year following its launch.

Though, according to Ethereum blockchain explorers, it had sold 2.5 million ETH by June 2018, the still-massive valuation of EOS doesn’t mean it’s any more successful than Ethereum. In fact, Ethereum’s volunteer developer community has arguably done more to make it a reliable user experience, without a centralized authority. EOS is criticized for its centralization, but some of the project’s advocates argue that it’s less of an issue than people think. According to renowned investor Mike Novogratz, CEO of Galaxy Digital, “EOS’ critics say it’s not decentralized enough, and that’s a very fair debate,” though he believes that “there will be markets for many different blockchains.”

EOS is still finding potentially groundbreaking errors despite a huge pool of funding to draw from, plus the resources of an organized company able to make policy decisions immediately rather than relying on the consensus of peers.

EOS outlines possible obstacles for competitors

Throughout its short lifespan, EOS has made a strong example of the pitfalls of centralized ICO fundraising. One of the biggest is that the SEC now defines projects like EOS more strictly and sees ICOs for these projects as issuing a security. By nature of its concentrated foundation, EOS and similar platforms must grapple not only with retroactive regular compliance, but also the fluctuating value of their working capital. Fully decentralized ideas without an official raise of funds — like Ethereum — encounter none of these obstacles because progress isn’t impacted by price and it has escaped new SEC classifications.

The largest boon for any decentralized idea is therefore not the amount of money it raised, nor the promises it made, but its ability to inspire peer-to-peer participation. People like to feel that they’re a foundational part of a new paradigm, and if the enthusiasm is not organic, enthusiasm for the project can wane. For projects that put investors on equal footing with developers and forego the executive board, failures are also a community problem to be solved rather than an injustice. When casual network peers can take roles of authority if they choose, and volunteer developers are responsible for fixing bugs, this community feeling of “mutually assured success” outweighs the momentum of a fat ICO wallet 10 times out of 10, and this is a lesson EOS is still learning.

Posted on

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.

Posted on

EOS Price Analysis: Platform Top-rated, But Will Prices Rally?

EOS

Latest EOS News

After an extended crypto winter that saw different projects
wrecked and developers calling it quit, it appears that the path towards
stability is cooperation. Tron has been pretty successful in that and now Wanchain,
an Ethereum fork which is creating solutions for cross chain interoperability
allowing seamless value transfer between heterogeneous blockchains, will this
year support EOS—the fourth most capitalized coin and a project ranked as “Superb”
by CMC’s new partner, a blockchain analytic firm, Flipside.

Read:Citi Once Had Plans To Launch A
(Centralized) Crypto Asset, But Failed To Execute

Already, Wanchain incorporated Loopring—a layer-2 protocol
which allows third parties to build non-custodial DEX meaning token or coin
exchange can be done in a peer to peer manner without the need of an third party
while all order management is done off-chain—on their platform. Here’s what Jack
Lu, Wanchain’s Founder and CEO had to say:

“Wanchain’s interoperability platform is an excellent complement to Loopring’s protocol and will set the stage for a more advanced DEX ecosystem with the ability to offer cross-chain trading pairs and increased liquidity. “

Also Read:Could Bitcoin (BTC) Follow Gold’s Long-Term
Chart?

All in all, 2019 could be an interesting year for DEXs
thanks to continued pummeling of centralized exchanges and increased oversight (and
demands) from protective regulators. Aside from Wanchain—Loopring initiative, Binance
is testing their version. However, should liquidity be overcame then we may as
well see a migration towards secure DEXs thereby drawing additional demand to
EOS—ranked as the best platform by China’s CCID.

EOS/USD Price Analysis

EOS

At the time of press, EOS performance is stellar and prices are up 1.9 percent in the last week with EOS changing hands at around $3.6 apiece. Even so, we should note that this could as well be a deserved correction and as price action dictates, a period of extended losses or gains should be followed by a correction. From the charts, it is clear that EOS is correcting and our resistance as laid out in the chart has been marked by a humongous bear bar.

EOS

Trend and Candlestick Formation: Short-term bullish and breakout pattern

From a top-down approach, sellers are technically in charge
and EOS is trending within a bear breakout pattern thanks to mid-Nov 2018
sell-off. Nonetheless, in the short-term and in a classic bear breakout
pattern, the current pullback could as well be the second stage—the retest
phase (targets at $4—which has been retested) before a trend resumption phase
begins.

Therefore, while we are bullish and anchoring our analysis
on the bullish breakout bar of Feb 18, we should also realize that the failure
of bulls to muster enough momentum and satisfactorily close above $4, reversing
losses of Feb 24 is bearish for EOS.

If EOS fail to close above $4.5 complete with above average
volumes exceeding 18 million in days ahead and instead drop below $3, we shall
have solid reasons to exit this trade as bears of Feb 24 flow back. If not and
prices rally, then bulls of Feb 18 would be present and in that case, first targets
will be at $6.

Volumes: Bearish

Our EOS/USD price analysis is based on Feb 18, 24 and
yesterday’s average at 14 million, 18 million and 3 million according to
streams from BitFinex. Since we are bullish, we expect prices to edge higher and,
in that case, EOS must print above $4.5.

As a result of this position, accompanying volumes must
exceed 18 million as price action confirms bulls of Feb 18. Conversely, losses
below $3 must be complete with equally high volumes exceeding 18 million and
recent averages confirming liquidation of Feb 24.

All charts courtesy of Trading View—BitFinex

This is not investment Advice. Do your Research.

The post EOS Price Analysis: Platform Top-rated, But Will Prices Rally? appeared first on Ethereum World News.

Posted on

EOS Price Primed For More Upsides Versus USD, BTC and ETH

EOS price climbed higher after
forming support near the $3.25 level against the US Dollar. EOS is currently
placed nicely in a positive zone and it could extend upsides versus USD, BTC
and ETH.

Key Talking Points

  • EOS price traded higher and broke the $3.60
    resistance level (Data feed of Kraken) against the US Dollar.
  • There is a crucial bullish trend line in place
    with support at $3.62 on the 4-hours chart.
  • The price remains supported on dips and it could
    climb higher towards $3.82 and $4.00.

EOS Price Analysis

Recently, there were strong bullish moves in bitcoin, ripple, EOS, litecoin, binance coin and other cryptocurrencies against the US Dollar. Later, most of them corrected lower and EOS price too corrected a few points from the $3.80 resistance, but it remains supported on dips.

EOS Price Analysis Chart

The chart above indicates that EOS price formed a solid support near the $3.25 level and later started a strong upward move. It broke the $3.50 and $3.60 resistance levels to move into a positive zone.

There was also a break above a key bearish trend line with
resistance at $3.60 on the 4-hours chart. It opened the doors for more gains
above $3.70 and the price settled above 100 simple moving average (4-hours).

The price climbed towards the $3.82-.3.85 resistance area,
where sellers appeared. A high was formed near the $3.81 level before the price
started a downside correction. It declined below the 23.6% Fib retracement level
of the recent wave from the $3.284 low to $3.881 high.

However, there are many supports on the downside above the
$3.60 level. There is also a crucial bullish trend line in place with support
at $3.62 on the same chart. Besides, the 100 SMA is positioned near the $3.60
level.

If EOS price breaks the $3.60 support, it could test $3.55
and the 50% Fib retracement level of the recent wave from the $3.284 low to $3.881
high. The overall price structure is positive and it seems like there could be more
gains above $3.75. $3.80 and $3.85 as long as the price stays above the $3.50
pivot level.

The market data is provided by TradingView.

The post EOS Price Primed For More Upsides Versus USD, BTC and ETH appeared first on Ethereum World News.

Posted on

Bitcoin, Ethereum, Ripple, Litecoin, EOS, Bitcoin Cash, Binance Coin, Stellar, Tron, Cardano: Price Analysis, March 18

Ethereum’s Joseph Lubin predicted this week that blockchain will make up more of the global economy in the coming decades.

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.

Ethereum (ETH) co-founder Joseph Lubin expects the global economy to grow 10 times in the next 10 to 20 years, powered by the mass use of blockchain technology. According to him, the current condition of the nascent space is similar to the use of email in 1983, when only a handful of early adopters were using it.

Tyler and Cameron Winklevoss, founders of the Gemini crypto exchange, have welcomed Facebook’s rumored stablecoin. However, they said that cryptocurrencies will usher in a greater disruptive development compared to the social networking platforms.

Gradually, large traditional players in various fields are recognizing the power of blockchain technology and cryptocurrencies, partnering with various startups to gain the first mover advantage. Different nations are also not leaving any stone unturned to make the most of the budding technology.

These developments are positive for the future. Nevertheless, the price is yet to respond to improved fundamentals. What do the charts of the major cryptocurrencies project? Let’s find out.

BTC/USD

Though Bitcoin (BTC) has been rising above the psychological resistance of $4,000 for the past three days, it has not been able to sustain it. This shows profit booking at higher levels. If the price doesn’t close above $4,000 soon, we anticipate a mild correction to the 20-day EMA and below it to the uptrend line.

If the digital currency rebounds sharply from either of the supports and breaks out of $4,000, it will be a positive sign. It is then likely to rally to $4,255, which is a major hurdle. A close (UTC time frame) above $4,255 will complete a double bottom, which has a pattern target of $5,273.91.

Currently, both the moving averages are sloping up and the RSI is in the positive territory. Hence, the path of least resistance is to the upside.

BTC/USD

Our bullish view will be invalidated if the BTC/USD pair dips below the moving averages. On a fall below the 50-day SMA, the pair can drop to $3,355. Below this level, the final support is at $3,236.09. The downtrend will resume if the bears sink the price to a new yearly low.

Traders can retain the stop loss on the long positions below $3,236.09. We shall soon trail the stops higher to reduce the risk. We might suggest adding long positions on a close above $4,255.

ETH/USD

Ethereum (ETH) failed to sustain above $144.78 on March 16. This shows a lack of buying at higher levels. The price has again dipped back to the 20-day EMA, below which a fall to $134.50 is probable. Both the moving averages have started to slope up, which indicates a minor advantage to the bulls.

ETH/USD

A breakout and close above $144.78 can result in a move to the next overhead resistance of $167.32. If this level is also crossed, it will complete a bullish ascending triangle pattern that has a target objective of $251.64.

On the other hand, if the ETH/USD pair plunges below the moving averages, it can slide to the trendline of the ascending triangle pattern. Traders can keep the stops on the remaining long positions at $125.

XRP/USD

Ripple (XRP) has been trading close to the moving averages for the past few days. This period of consolidation is unlikely to continue for long. We expect a decisive breakout or a breakdown within the next few days.

XRP/USD

A breakout of $0.33108 will propel the XRP/USD pair to the resistance line of the descending channel. If the bulls succeed in pushing the price above the channel, we expect the pair to pick up momentum and start a new uptrend.

On the other hand, if the digital currency plunges below the uptrend line of the ascending triangle, it can drop to the next support at $0.27795. Below this level, a drop to $0.24508 is possible. Traders can protect their long positions with the stop loss just below $0.27795.

LTC/USD

Litecoin (LTC) broke above the resistance line on March 16, but it is facing profit booking at higher levels. If the price rebounds off $56.910, it will indicate strength and a rally to $65.561 is probable. Above this level, the up move can extend to $69.2790. Though the price has been moving up, the RSI has failed to catch up. This negative divergence on the RSI is worrying us. Traders can trail the stops on the remaining long positions to $52.

LTC/USD

We are not recommending booking complete profits at the current levels because, in a bull phase, the negative divergence on the RSI can often give a false signal. Notwithstanding, since it is a warning sign, we have proposed trailing the stops to protect the paper profits.

If the LTC/USD pair breaks down of the 20-day EMA, it can slide to the next support at $47.2460. The 50-day SMA is just below this level. A breakdown of this support will indicate weakness.

EOS/USD

EOS has been struggling to breakout of $3.8723, but is finding support close to the 20-day EMA. Both the moving averages are gradually trending up, and the RSI is in the positive territory, which shows that the bulls have a slight edge.

EOS/USD

If the EOS/USD pair sustains above $3.8723, it can move up to $4.4930. But if the pair turns down from the current levels and breaks below the 20-day EMA, a fall to $3.1534 is probable. Below this support, the trend will turn in favor of the bears. Therefore, traders can retain the stops on the remaining long positions at $3.1. We shall soon trail it higher.

BCH/USD

Bitcoin Cash (BCH) has quickly risen to the overhead resistance of $163.89. The attempt to breakout and sustain above it has failed. Still, with the 20-day EMA starting to slope up and the RSI in the overbought zone, the path of least resistance is to the upside. Above $163.89, it can rally to $175 and above it to $220.

BCH/USD

If the BCH/USD pair fails to scale above $163.89, it will again slide back to the 20-day EMA. The trend will turn negative if the bears sink the price below $120.46, and traders can retain the stop loss on the long positions at $116. We shall watch for a couple of days and then recommend trailing the stops higher.

BNB/USD

Binance Coin (BNB) broke out of the overhead resistance at $15.9100517 on March 16. We expected it to continue higher after breaking out of the resistance. However, the digital currency is stuck near the breakout levels for the past two days.

BNB/USD

A breakout of $16.6442826 can propel the BNB/USD pair to its target objective of $18. Both the moving averages are trending up and the RSI is in the overbought zone, which shows that the bulls have the upper hand.

However, if the price again slips back below $15.9100517, it will indicate profit booking at higher levels. The support on the downside is at the uptrend line and below it at 20-day EMA. If the 20-day EMA breaks down, the short-term trend will turn in favor of the bears. Therefore, please trail the stop loss on the remaining long positions to $14.

XLM/USD

Stellar (XLM) is consolidating near the recent swing high, which is a positive sign. The 20-day EMA is sloping upward and the RSI is close to the overbought zone, which suggests that the bulls are in command.

XLM/USD

On the upside, the XLM/USD pair has to breakout of the resistance line to pick up momentum. The targets are $0.13250273 and above it, $0.14861760.

Our bullish view will be invalidated if the price turns down from the current levels and slips below the 20-day EMA. In such a case, a fall to the uptrend line is probable. The traders can keep the stop loss on the long positions at $0.08.

TRX/USD

Though Tron (TRX) broke out of the 20-day EMA on March 16, it turned back from the 50-day SMA. The bulls could not keep up the buying pressure and it is currently struggling to hold the 20-day EMA.

TRX/USD

Both the moving averages are sloping down and the RSI has also slipped into the negative territory, which suggests that the bears have the upper hand. The TRX/USD pair will pick up momentum above $0.02815521. Until then, the bears are likely to sell on rallies.

On the downside, support lies at $0.02094452. If this level breaks, the next one to watch is $0.01830. We remain neutral on the digital currency until it breaks out and sustains above the range.

ADA/USD

Cardano (ADA) broke above the $0.036815 to $0.051468 range on March 16, but did not trigger our buy mark of $0.05650 suggested in the previous analysis. However, it has not given up much ground as is trying to hold above the previous resistance-turned-support of $0.51468. This is a positive sign, as it shows that the bulls are in no hurry to book profits.

ADA/USD

If the ADA/USD pair picks up strength and rallies above $0.05650, we expect it to reach $0.066121 and above it to $0.080. Therefore, we retain the buy suggested in the previous analysis.

Contrary to our assumption, if the price sustains below $0.051468, it can drop to the 20-day EMA, which should provide support. If this support breaks, the pair will extend its stay in the range.

The market data is provided by the HitBTC exchange. The charts for the analysis are provided by TradingView.

Posted on

Bitcoin, Ethereum, Ripple, Litecoin, EOS, Bitcoin Cash, Binance Coin, Stellar, Tron, Cardano: Price Analysis, March 15

Some experts are predicting another Bitcoin rally in August once fundamentals have improved.

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

Market data is provided by the HitBTC exchange.

In a recent interview, United States Securities and Exchanges Commission (SEC) Chairman Jay Clayton said that he is concerned about manipulation and custody services in the crypto space. If these issues are addressed and if any Bitcoin ETF satisfies their rules, it might stand a chance of getting the green light.

While crypto markets are speculating on the probability of a Bitcoin ETF, the Chicago Board Options Exchange (CBOE), has announced that it will not be offering any new Bitcoin futures contracts in March. This is likely to benefit its competitor CME, which will continue to provide the traders with an opportunity to trade in Bitcoin futures.

Fundstrat Global Advisors founder Tom Lee believes that the fundamentals of Bitcoin are improving. He expects a turnaround by August of this year. On the way up, he anticipates $6,000 to act as a major resistance.

Let’s see what our analysis projects.  

BTC/USD

Bitcoin (BTC) is trying to bounce off the 20-day EMA and rise above the psychological resistance of $4,000. Both the moving averages are gradually sloping up and the 20-day EMA has held in the past few days, which shows buying at lower levels. We expect the digital currency to pick up momentum above $4,000 and quickly rally to $4,255. If the bulls scale this level, it will complete a double bottom pattern that has a target objective of $5,273.91.

BTC/USD

On the contrary, if the BTC/USD pair again turns down from $4,000 and breaks below the uptrend line and the 50-day SMA, it will indicate profit booking and aggressive short initiation at higher levels.

The critical zone to watch on the downside is $3,355–$3,236.09. A breakdown of this zone will be very negative. The downtrend will resume if the digital currency plunges to a new 52-week low. Therefore, traders can keep the stop loss on the existing long positions below $3,236.09. We will soon trail the stops higher.

ETH/USD

Ethereum (ETH) has successfully held the support at $134.50. The bulls are trying to push the price towards $144.78. Both the moving averages are flat and the RSI is also close to the center. This suggests equilibrium between buyers and sellers.

ETH/USD

If the ETH/USD pair picks up momentum and breaks out of $144.78, it can rally to the critical overhead resistance of $167.32. Above this level, the ascending triangle completes that has a pattern target of $251.64.

The trend will weaken if the digital currency drops below 50-day SMA. The next support on the downside is $116.30. The uptrend line of the ascending triangle is also at this level; hence, we expect this to hold. A break below the uptrend line will invalidate the bullish pattern, which is a negative sign. Traders can protect the remaining long positions with stops at $125.

XRP/USD

Ripple (XRP) has been clinging to the uptrend line of the developing ascending triangle for the past few days. Both the moving averages are flat and the RSI is at the midpoint, which points to a balance between demand and supply.

XRP/USD

If the XRP/USD pair slips below the uptrend line, it can drop to the support at $0.27795. A breakdown of this level can retest the yearly low at $0.24508. Therefore, traders holding long positions can keep the stop loss just below $0.27795.

On the other hand, if the pair spurts higher from the current levels and rises above $0.33108, it can move up to the resistance line of the descending channel. A breakout of the channel will indicate a likely change in trend.

LTC/USD

Litecoin (LTC) again took support close to the 20-day EMA on March 14. Currently, the bulls have pushed the price above the overhead resistance of $56.910, which is a bullish sign. The next resistance on the upside is $59.4494. If the bulls succeed in scaling this level, we anticipate a rally to $65.5610 and above it to $69.2790.

LTC/USD

While the up-trending moving averages are bullish, the negative divergence on the RSI is worrying us. If the RSI breaks out of the resistance line, it will be another positive sign.

Our bullish view will be invalidated if the LTC/USD pair breaks down of the 20-day EMA and drops to $47.2460. Traders can retain the stops on the remaining long positions at $50.

EOS/USD

EOS has been holding above the 20-day EMA for the past four days. Repeated attempts by the bears to sink the price below this level have failed, which shows buying at lower levels.

EOS/USD

Both the moving averages are gradually moving higher and the RSI has also turned up. We expect the bulls to make another attempt to scale above the overhead resistance of $3.8723 and rally towards $4.4930.

However, if the EOS/USD pair turns down from current levels and slips below the 20-day EMA, it will correct to $3.1534. The 50-day SMA is also at this level, hence, we expect this support to hold. But if the bears sink the pair below the 50-day SMA, it can correct to $2.1733. Therefore, traders can keep their stops on the remaining long positions at $3.10.

BCH/USD

Bitcoin Cash (BCH) is currently attempting to sustain above the $120–$140 range. The strong bounce from the 50-day SMA increases the probability of a breakout and close (UTC time frame) above $140. Following the breakout, the move can extend to the next overhead zone of $157.95 to $163.89. As the digital currency has a history of vertical rallies, traders can trail their stops higher instead of booking profits at the above-mentioned levels. If the momentum picks up, the rally can reach $186.30 and above it $239.

BCH/USD

However, if the BCH/USD pair reverses direction from the current level, it will prolong its stay in the range for a few more days. It will turn negative on a breakdown of the range at $120. The next level to watch on the downside is $105. For now, traders can keep the stops on the long positions at $116.

BNB/USD

Binance Coin (BNB) has been consolidating close to the overhead resistance of $15.9100517 for the past three days. It has not given up much ground, which suggests that the bulls are in no hurry to book profits on their positions.

BNB/USD

The trend remains firmly up as both the moving averages are sloping up and the RSI is in the overbought territory. This increases the possibility of an upward breakout that can carry the BNB/USD pair to $18. Therefore, traders can retain the stops on the remaining long positions at breakeven. We shall suggest trailing the stops higher next week.

Our bullish assumption will prove to be wrong if the pair reverses direction from the current levels and breaks below the 20-day EMA. The next support on the downside is the 50-day SMA.

XLM/USD

Stellar (XLM) has been crawling higher for the past few days but is struggling to breakout of the resistance line. A breakout of the resistance line will propel it towards $0.13427050. With the 20-day EMA sloping up and the RSI close to the overbought level, the path of least resistance is to the upside. Traders can protect their long positions with a stop loss of $0.08.

XLM/USD

Contrary to our assumption, if the XLM/USD pair fails to breakout of the resistance line, it can slide to the 20-day EMA and below it to the uptrend line. A breakdown of the uptrend line will indicate that the bears are back in the driver’s seat and a retest of the low is probable.

TRX/USD

Though Tron (TRX) has been trading below the 20-day EMA for the past few days, the bears have not been able to sink it below $0.02094452. This suggests buying at lower levels.

TRX/USD

As the TRX/USD pair has held up close to the 20-day EMA for the past few days, we expect the bulls to make another attempt to push prices higher. On the way up, after crossing 20-day EMA, the 50-day SMA will act as the first resistance. The final hurdle is $0.02815521, above which, we expect a new uptrend to start. We shall suggest initiating long positions after the pair sustains above the range.

But if the digital currency turns down from the current levels and slides below $0.02094452, it can drop to $0.01830. This is an important support. If this breaks down, a retest of the lows is probable. We do not see a reliable trade set up as long as the virtual currency is stuck inside the range.

ADA/USD

Cardano (ADA) continues to be range bound between $0.036815 and $0.051468. It has reached the top of the range, from where it had returned thrice in the past. The bulls will attempt to scale above this while the bears will try to defend it.

ADA/USD

As the 20-day EMA is trending up and the RSI has sustained in positive territory, we anticipate a breakout this time. The minimum target objective following the breakout is $0.066121 and if it is crossed, the next level to watch is $0.080. Therefore, the traders can buy above $0.0565 and keep a stop loss at $0.044 for now. We shall soon trail the stops higher.

Our bullish view will be invalidated if the ADA/USD pair turns down from the current levels. In such a case, the range bound action will continue for a few more days. The pair will turn negative on a breakdown and close (UTC time frame) below the range.

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