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Ethereum Founder Vitalik Could Be Worth $100M+, Crypto Investor Speculates

Vitalik Still Owns $50 Million In Ethereum

Crypto investors are curious folk. Almost every stakeholder wants to know who Satoshi really is. So, it should come as no surprise that some have delved into blockchain data to determine the net worth/asset value of some of this space’s leading figures. Alex Sunnarborg, who heads cryptocurrency hedge fund Tetras Capital, recently divulged a bit about the financial status of Vitalik Buterin, the creator of Ethereum.

In a six-part thread, Sunnarborg did his utmost to analyze the publicly-known wallets of the Russian-Canadian coder. It was explained that per Etherscan, Buterin currently owns the keys to the 24th most valuable Ethereum (not counting ERC tokens) account.

The wallet in question has custody of 350,003 Ether, 0.332% of the asset’s current circulating supply. At current valuations, such a cryptocurrency stash is valued at $50,000,000 by the market — evidently no small sum. 350,003 ETH is drastically less than the 500,000 coins he received during Ethereum’s genesis block, presumably for his work building the blockchain from the ground up.

Sunnarborg speculates that the disparity between the Ether amount Buterin initially received and his current balance is due to a series of cash outs, which were purportedly completed between June 2017 and February 2018. The investor adds that these sales likely netted Vitalik approximately $40 million, which has likely funded Buterin’s little-known living habits.

And with that, Sunnarborg concluded that Buterin’s finances can be broken down as follows: $50 million worth of Ether in primary address, $40 million in fiat reserves, and likely millions worth of Ether, ERC tokens, and project equity.

Long story short, Buterin is doing rather well for himself.

Bone To Pick With Ether?

While Sunnarborg did not divulge his reasoning for issuing the aforementioned thread, some have speculated that he has a bit of a bone to pick with Ethereum. One Twitter user with the moniker “Yanay” asked if this thread was meant to shame Buterin, who has been rather closed about his private life throughout his seven or eight years in the industry. And in the eyes of some, this may be the case.

In a recent Forbes interview, the Tetras Capital representative noted that recent layoffs at Consensus Systems, better known as ConsenSys, should have a negative effect on the broader Ethereum ecosystem.

He added that the fact ConsenSys is an integral part of this subsector and underwent purportedly drastic staff cuts should have some worried. Generalizing DApps and products on the platform, Sunnarborg explained that many promising offerings have yet to launch, and the ones that have are “pretty difficult to use” and have little-to-zero active users.

Case in point, the Tetras capital founding partner drew attention to the mere $40,000 currently staked on Augur, a multi-million dollar ICO. Thus, he claimed:

“There’s this massive disconnect between how much money is still tied up in these projects and how much people actually use them.”

Sunnarborg added that Ethereum may also become pressured by competition blockchains, like Dfinity or Polkadot, along with the fact that the chain’s development is losing momentum and steam.

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Ethereum Price Analysis: ETH Temporary Liquidation at $140


Latest Ethereum (ETH) News

To quantify, there are more than 1.2 million dApps based on
the most-on demand and secure crypto smart contracting platform, Ethereum. With
smart contracts executing orders off an immutable and public network, security
is a top priority.

Read:Report: Ethereum (ETH) Has Twice the Monthly Core Dev
Support as Bitcoin (BTC)

Emerging records indicate that the creators of each of these
1.2 million dApps successfully used an efficient tool that could pick out 13
common smart contract flaws and later rating and notifying the creator before

The tool that also improves transparency within the Ethereum ecosystem was launched by AmberData helps coders pick out common vulnerabilities plaguing Ethereum based dApps helping them control and even avert possible losses that can run into millions of dollars. And it is not a service locked to coders and dApp developers alone. Members of the public can use the tool to audit with their favorite Ethereum dApps thereby introducing the much-sought after transparency between end users and developers.

Also Read:Ethereum (ETH) Co-Founder Predicts Blockchain Will
Dominate Economy in 10 Years

Meanwhile, customers of the hacked New Zealand exchange are
set to get a haircut for their losses as the exchange struggles to par losses
and resume normal service. Even so, users are disappointed because latest
updates indicate that the exchange is yet to secure or recover stolen Ether
(ETH). As a result, users will have to stomach losses as the haircut will be
100 percent.

ETH/USD Price Analysis


Prices are stable—as it has been in the last couple of days. At the time of writing, ETH is up 3.8 percent in the last week as prices consolidate within tight trade range. Even though buyers are in control and trading within a bullish breakout pattern after prices closed above $135 with decent volumes late on Mar 5, the lack of upward momentum reversing losses of Feb 24 is negative for bulls.


Trend and Candlestick Formation: short-term bullish, Bullish breakout

As aforementioned, buyers have a chance in the short-term and trading within a bullish breakout pattern after bulls of Mar 5. All the same and from our last ETH/USD iterations, it is only after there is a conclusive close above $170 that bulls can be authoritatively be in control as they would have successfully nullified the bear breakout pattern of mid-Nov 2018.

Before then, aggressive traders should take advantage of dips in lower time frames, load up and aim for $170 with tight stops at Mar 5 lows or $135. However, should there be a slide and prices collapse below $135, then traders should exit their longs as it is likely that prices will drop back to $110 or $70—Dec 2018 lows.

Volumes: Bearish

From the chart, participation is shrinking. Despite our optimism and expectation of higher highs, records indicate that bulls are sustained by low and dropping volumes. By Mar 5, volumes stood at 296k with that dropping to 171k on Mar 17. By all accounts, this pales in comparison with those of Feb 24 whose average stood at 415k with record volumes of 880k.

Therefore, unless otherwise there are strong gains above $170 with equally high volumes—ideally above 1 million, ETH will be under pressure and could cave, shattering our optimism. Any form of high volume close above $170 would, nonetheless, open doors for $250 or higher in days ahead.

All charts courtesy of Trading View—BitFinex

This is not investment advice. Do your research.

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Cardano (ADA) Attempt to Break Above $0.4800: Latest News Summary

Per time of writing one of the only in the green among leading coins by market capitalization is Cardano (native token ADA  ranked 11th) counting 3.35% increase in the last 24-hours. Despite that it is lower compared to Yesterday (10th of March) the transaction volume of ADA is currently on the rise reaching for the big $40 mln ($39.1 mln present) on various crypto-exchanging platform.


Source: coinmarketcap

The pair ADA/USD is currently changing hands at $0.04666 and as it is standing on the rising on the hourly trading chart it is possible that in the coming days the value will test the major $0.4800 with the chance of breaking above the monthly declining trend while riding on the supportive trend.

Coin News

Cardano (ADA) Latest:

– One of the three parties that make Cardano [ADA] the project that it is today – the venture and commercial arm EMURGO announced that it is planning to expand further into India via opening a blockchain academy.

Called EMURGO Academy – the institution targets to train developers that are interested into blockchain-crypto developing thus increasing adoption of block-tech. EMURGO’s academy aims at supplying talented developers with the tools needed to thrive in the blockchain industry.

– During YouTube’s Cryptocurrency Virtual Summit, the co-founder and creator of the 11th largest digital coin by market capitalization – Charles Hoskinson, also co-founder of Ethereum [coin lead by Vitalik Buterin], dug dipper into the progress which Cardano made until now since its debut and what kind of mindset does it take to run a project of this scale even during cold weather. According to Mr. Hoskinson, what stands the most out for him is the teachings that the road until now gave him and his team on how to introduce and make a cryptocurrency function in the market.

“The big accomplishment is just learning how to have a cryptocurrency in the market, learning how to have a product that can evolve at a reasonable pace, and being able to actually execute on the science, because the science is so very complicated and it’s all new protocols. And being able to actually go from the lab to a specification to code, and have a reasonable vision of how we’re actually going to roll that code out and ship it to people and get it to work. I think that that’s what I’m most proud of.”

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Report: Ethereum (ETH) Has Twice the Monthly Core Dev Support as Bitcoin (BTC)

A new report confirms the industry belief that Ethereum has the largest coding development support of any cryptocurrency.

Despite sitting in the number two spot by market capitalization, and trailing Bitcoin by $55 billion, a report published by crypto management firm Electric Capital on Mar. 7 found that Ethereum has the most developers working on its protocol of all cryptocurrency projects.

Ethereum, helmed by co-founder and industry figurehead Vitalik Buterin, has consistently been one of the top cryptocurrency projects to attract both core and community development, particularly when evaluating its monthly core commits. Research collected by Electric Capital reviewed 20,000 code repositories with 16 million commits to obtain data in their evaluation of different coin projects, determining that Ethereum averages 216 developers contributing code each month. Electric Capital also included in their post that this figure is likely less than the actual number of developers, because their review did not include community-base projects such as Truffle, one of the leading sand boxes for Ethereum and smart contract testing,

“This is undercounting the number of Ethereum developers since we do not include ecosystem projects like Truffle.”

The report also found that Bitcoin has amassed a healthy developer ecosystem, nearly a decade after being launched. While Electric Capital calculated BTC developer support to be 50 per month–around a quarter of what they found for ETH–the company again noted the figure to be likely under-represented, considering they do not account for cryptocurrency wallet projects.

When looking strictly at contributors to both coin’s core protocol, the numbers become more even, albeit with Ethereum still holding a significant lead. Electric Capital reported finding ETH to be “by far” the most active project, averaging 99 monthly core developers–more than twice that of BTC which claimed the second place spot at 47 core devs per month.

Overall, the report is extremely positive on the industry of cryptocurrency and its current development pace. Despite coin prices falling more than 80 percent over the last year, constituting a “crypto winter,” development support has continued to be on the rise. Electric Capital reported that the number of devs working on public coins has doubled in the last two years, with total industry figures being 4,000+ developers per month contributing code to 2,800+ coin projects.

In addition, the report found that development interest has largely been immune to depressed coin prices, a sign of both industry adoption and growing interest,

“Developers who entered the crypto ecosystem have continued to build despite market conditions. From Jan 2018 to Jan 2019, the number of monthly active developers fell 4% while the markets fell more than 80%.”

Electric Capital also found that the majority of abandoned coin projects are currencies forked from existing “high network value coins,” citing Bitcoin Diamond and Bitcoin Gold as both having fewer than 5 developers per month since Oct. 2018. Core protocol development for platform currencies have also drawn the most interest in projects observed, with the report finding 25+ monthly devs for EOS, Cardano and TRON.

With Ethereum trail-blazing the industry in developer support, the cryptocurrency welcomed the launch of its long-awaited Constantinople upgrade two weeks ago.

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Stellar (XLM), Basic Attention Token (BAT) and Waves (Waves) Latest News Summary

XRP’s [third largest coin by market capitalization] first row competitor for currency remittance and cross-border transactions Stellar Lumens (XLM) is standing in the green against the US Dollar reaching a price of $0.08661.


Source: coinmarketcap

Axel Springer SE and SatoshiPay recently announced a partnership that will allow users to pay for digital content published by Axel Springer SE with cryptocurrency stored in the SatoshiPay wallet. SatoshiPay is a London startup founded in 2014 focused on developing solutions to provide frictionless micropayment solutions. Currently, the SatoshiPay platform is developed on Stellar’s blockchain.

The senior president of New Business at Axel Springer SE – Valentin Schöndienst added:

“Blockchain payments can significantly reduce transaction costs and thus enable new monetization systems for content. SatoshiPay offers a turnkey solution that allows us to instantly use blockchain technology and offer it to our customers”.

While on the other hand CEO and founder of Satoshi Pay – Meinhard Benn spoke very highly of Axel Springer noting out the excitement working with a partner who already recognises the potential of block-tech. He also took the opportunity to thank the Stellar Development Foundation team “which supports this cooperation with a seven-figure partnership grant.

Coinsquare, has recently acquired the StellarX decentralized exchange. The team at StellarX made the announcement via medium and stated that they will still continue with the roadmap outlined back in September of last year. Coinsquare also acquired BlockEQ late last year for $12 Million. StellarX will be led by BlockEQ’s co-founder, Megha Bambra,  and will continue to grow and enhance the Stellar ecosystem. – BlockEQ – private stellar wallet.

BAT – Via teaming-up with Tap Network which is a blockchain-concentrated advertising platform, the team behind the famous BAT cryptocoin made it possible for its owners to redeem on choice their tokens for rewards on over 250k brands with giants like Apple, Uber and Starbucks.

The Basic Attention Token, which transacts the token transfers via the Ethereum blockchain, made its debut in the cryptocurrency industry with the target of resolving present marketing and advertising issues with which individuals have to deal with in the particular industry. The above mentioned partnership was first announced during Mobile World Congress on February 2019 by Brendan Eich – CEO of Brave Software.

Waves – The teams at Wirex and Waves (WAVES) have worked together to integrate the digital asset on the popular crypto-debit card platform. Wirext also allows its users to buy, store and manage a variety of cryptocurrencies. WAVES joins the major digital assets of Bitcoin (BTC), Litecoin (LTC), XRP and Ethereum (ETH) on the Wirex platform.

[Wirex] provides extra liquidity for cryptocurrencies and gives investors the ability to convert and spend their crypto instantly with our Wirex Visa card. Investors who buy WAVES through our platform will know they are with a safe, agile, cost-effective service. In addition, our existing users will have another strong and popular token to add to their portfolios. – CEO of Wirex – Pavel Matveev

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Ethereum Price Analysis: ETH Bliss, $170 The Only Obstacle To $360.

Latest Ethereum (ETH) News

Craig Wright has his reasons to doubt Ethereum’s goals. The super computer talks and smart contracts and the ICO launching platform did differentiate ETH as a token and Ethereum as a platform driving its value to spot levels. Backed by dedicated developers–most working pro-bono, projects find this network irresistible despite current limitations.

Read: Vitalik Buterin Compares Bitcoin and Ethereum: BTC is like a Calculator, ETH is like a Smartphone

Scalability is a challenge and will remain so as long as it remains decentralized with no compromise designed to accelerate speed. Through Constantinople, the network is working towards achieving an amicable yet practical solution towards Serenity. At that last stage, like the Voltaire in Cardano, Ethereum will be scalable, have a better VM and most importantly, the throughput would be in millions if not billions.

However, in the path towards this dream, sacrifices must be made. Miners did their part and through EIP 1234, thirding was executed while simultaneously pushing the difficulty bomb for another year. Thirding is a way to reducing ETH inflation, drawing demand during the ice age as the network intrinsically discourage mining in preparation for Casper.

Also Read: Controversial Craig Wright Has the Technology to Make ZCash and Monero Completely Traceable

Constantinople was a success and another proposal now is the drastic slashing of GAS fees. Payable in ETH, all transactions within the network is charged. Eric Conner (who is building ETHHub) proposes reduction of GAS fees by 90 percent eliminating the need of auctioning which he says is a source of frustration.

ETH/USD Price Analysis

Ethereum ETH

At the time of press, Ethereum (ETH) prices are stable. Perched at second place with a market cap of $14,430 million, ETH is widening its gap with XRP meaning Constantinople has had an effect on price. This was expected and as mentioned in our last price piece, ETH bulls are in control as long as prices are maintained above $135. Ceilings remain at $170 but unless there is a rally above this mark, risk-averse traders should stay on the sidelines until after our trade conditions are meant. The arena is open for aggressive traders who should fine tune entries in lower time frames with reasonable target at $170.

Ethereum ETH

Trend and Candlestick Arrangement: Short-term Bullish, Bear Breakout Pattern

In the short-term, buyers appear to be in control. However, when we take a snapshot of price action from a top down approach, Ethereum (ETH) bears are in control. Worse still, prices are within a bear breakout pattern with clear resistance at $170. The level is a strong obstacle for bulls and as previous support now resistance, the demand for ETH must be high to force a close above $170 invalidating the possible retest and the bear breakout pattern of mid-Nov 2018. If not and for a second time this year bulls fail to close above $170 and instead prices recoil with an accompanying bear bar, ETH prices could collapse below $150, $100 and last year’s lows of $70.

Volumes: Increasing but Bullish

Recent higher highs may be pumps of a retest phase as mentioned above. We cannot be conclusive until after prices close above $170. All we know is that the volumes of week ending Nov 25—6 million versus 2.1 million, influences our ETH/USD price action. Visibly, participation has been dropping until recently when volumes began rising as prices edged higher. With weekly averages of around 2.1 million, we need a sharp uptick above 6.5 million as ETH prices expand above $170 reversing losses of late Nov 2018.

All charts courtesy of Trading View

This is not investment advice. Do your research.

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Constantinople Not enough, Addressing Ethereum Gas Fees A Top Priority

By all standards, Ethereum is an improvement of Bitcoin. It remains an open source ledger infused with decentralized controls supporting general computing as well as digital economic activities. underpinning Ethereum capabilities is the ability to create highly programmable programs, smart contracts, that are flexible, running as programmed without downtime.

Because of this, products and services can be built and deployed on this decentralized network with the knowledge that they will remain tamper proof and secured by the swarms of global computers with the only expenditure being a small fee payable to miners, incurring a social cost to the network as a whole.

Aside from the economic abstraction question, Ether (ETH) is the only currency acceptable in the network. Like Bitcoin, Ether possess three key properties—it can be a store of value, a medium of exchange—as an extended functionality of Bitcoin since it is programmable and lastly it is a unit of account.

Constantinople and EIP 1014: Skinny CREATE2

The last optimization upgrade saw Ethereum moving closer to Casper FFG after the successful activation of Constantinople. By incorporating approved proposals, a major takeaway was Thirding where miner rewards were slashed from three to two via EIP 1234 and CREATE 2 via EIP 1014—a proposal by Vitalik allowing for Ethereum smart contracts to interact with third party programs. It is summarized as follows:

“Allows interactions to (actually or counterfactually in channels) be made with addresses that do not exist yet on-chain but can be relied on to only possibly eventually contain code that has been created by a particular piece of init code. Important for state-channel use cases that involve counterfactual interactions with contracts.”

Address Gas Fees, Conner’s Proposal

However, according to Eric Conner, these optimizations are not enough. Through EIP 1559, he is proposing the scrapping of the existing auctioning model–first price auction, believing that it is “a major source of frustration” and an obstacle for full interaction and adoption of Ethereum.

Although we must acknowledge that GAS fees are charged in all blockchain network to prevent Sybil attacks, a change is necessary because the network is increasingly becoming popular and some users are reporting difficulty in estimating gas fees.

Coupled by their propensity of paying minimum for every transaction, their transactions are sometimes binned by miners always prioritizing transactions where initiators are willing to pay a premium for processing.

What users Stand to Benefit

These are pain points that need to be addressed as fast as possible. Accordingly, he is proposing a new auctioning model where the existing model is slightly adjusted “so that users submit bids as normal, then everyone pays only the lowest bid that was included in the block.”

The introduction of base fees and miner tips will reduce inefficiencies and when infused with Vitalik’s proposal draws high reliability allowing wallets to automatically set gas fees regardless of network’s activity. Base fees amount varies according to demand bringing value to ETH. To stem manipulation, these base fees are destroyed as they are “burnable”.

In his proposal, miners will benefit from tips. If this new fee system is incorporated, Eric lists the following benefits that users will set to draw:

  • Save up to 90% of transaction costs
  • Greatly improve user experience by automating the fee bidding system
  • Provide a predictable fee system for advanced users
  • Reduce unexpected wait times for transaction confirmations
  • Allow users to still “jump” the line when network is congested
  • Disincentive selfish mining even if fees dominate rewards
  • Enshrine the economic value of ETH at the protocol level

Do you think Conner’s system will be taken into consideration? Let us know in the comment section below.

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EOS (EOS) Torch Awareness Raising Campaign: EOS/USD Price Let Down

Without a doubt during the day crypto-enthusiasts noticed a sudden, while speedy, surge of coin values against the US Dollar on exchanging platforms or price-informing sites which hoisted the total-global market capitalization from $130.5 bln to $133.0 bln.

During the upward movement the fifth largest by market cap Litecoin LTC/USD experienced the a double digit gain standing out among many other famous cryptocurrencies. Right in its tail was EOS [market cap – $3.4 bln ranked 4th] moving fast towards the major $4.00. However, as the buyers were cooling down it did not take much until the pair EOS/USD entered a range while slightly standing on the green most of the last 24-hours.


Just recently, the EOS community has launched an EOS-tech awareness raising campaign via a so called EOS Torch. With the concept of passing the just minted torch-token forward, the project is targeting of gaining bigger attention towards the network.

Even that the two projects do look very-alike by first sight the differences exists. Lightning Toch – users who hold/carry the token add a small amount of BTC while passing it with the means of a test of trust, EOS Torch – no monetary value and no reason to defect the process.

While it will take its own time to reach any parallel level of attention compared to that of Lightning, the EOS Torch’s impact is very much on question by many. The torch-campaign does make more sense for Lightning Network as it is a project that is targeting to make cryptocurrency transactions easier and faster meaning. For EOS, the standing out characteristic is Decentralized applications or DApps and not cryptotransactions.

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Samsung Galaxy S10 Has Native Support For Ethereum, Not Bitcoin: Pre-Release Device

S10 May Only Support Ethereum, Not Bitcoin Out Of The Box

Just weeks ago, Samsung hosted its Unpacked event, unveiling the Galaxy S10 lineup. But, at the time of the event, little was known about the offering, save for the fact that it was named the “Blockchain Keystore,” which would store keys for blockchain-enabled mobile applications. In the days that followed, however, details and images reached media claiming that Keystore was actually a fully-fledged crypto wallet that supported Bitcoin, Ethereum, and potentially ERC-20 tokens.

Yet, a pre-release/early-release version of the device sent to a Youtuber going by Jorozu was revealed to only support Ethereum, not even the flagship cryptocurrency.

In a nine-minute video, Jorozu unboxed the device, which seems as bonafide as can be. He drew attention to Keystore on his device, seemingly the Korean release rather than the international release, and showed it depicting an Ethereum transaction’s information.

Funnily enough, however, when Jorozu opened Keystore, he was greeted with a visual representation of Bitcoin, but still claimed the offering only supported Ethereum out of the box.

Interestingly, this isn’t the first time that wallet providers have seemingly opted to support Ethereum before its ‘father’ in Bitcoin.

Opera, the popular web browser, only supports Ether and ERC tokens on its built-in wallet. This is likely due to Opera’s centricity on Internet applications, with Ethereum being a much more popular platform for DApps than Bitcoin.

Moreover, Coinbase Wallet (different than, formerly known as Toshi, just recently added support for Bitcoin, Litecoin, among a few other assets, after supporting Ethereum and tokens on the ‘world computer’ blockchain for over a year.

How About Cosmo And Enjin?

Interestingly, the Youtuber that recorded this video made no mention of Cosmee and Enjin either, two other digital assets reported to play a role in Samsung’s first consumer-facing cryptocurrency offering.

For those who missed the memo, at the Mobile World Congress in Barcelona, Samsung took to the stage to reveal that its S10 devices are “financial transaction ready,” and would support cold storage for Enjin (ENJ), Cosmee (COSM), and the two aforementioned.

Considering the fact that official Samsung representatives have expressed approval to the aforementioned altcoins, the lack of support for COSM and ENJ may just be temporary or region-locked.

Still To Boost Crypto

Even if the wallet application doesn’t support Ethereum from the get-go, many argue that Samsung’s first noticeable array into the blockchain realm could spark widespread adoption. Industry commentator Satoshi Flipper noted that KeyStore & Co, along with Square’s potential integration of the Lightning Network, could do more for Bitcoin adoption than “Bakkt and all the ETF’s in the pipeline combined.”

Per statistics gathered by Flipper, a real estate developer by trade but Bitcoin lover by night, Samsung shipped 70 million units in Q4 2018 alone. All the devices shipped likely weren’t flagships. But, considering the popularity of Galaxy devices, it wouldn’t be nonsensical to claim that a minimum of 25 million individuals will pick up S10 smartphones over the course of the coming year.

Even if this offering isn’t actively used by common Joes and Jills with S10s in their pockets, White Rabbit, a long-time Bitcoin miner & respected investor, remarked that custody (security) remains one of the largest problems facing this space today. And as such, he determined that the introduction of proper security solutions, like KeyStore, could be “interesting” to watch in the coming months and years.

Alec Ziupsnys, better known as Rhythm Trader on Twitter, noted that Samsung’s latest move in the blockchain realm should spark competition from Apple and Google, thus catalyzing adoption even further.

Photo by Tinh Khuong on Unsplash

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Ethereum (ETH) Price Analysis: Major Reversal Pattern?

Ethereum could be in for more declines as it forms a double top on its 4-hour chart. Price is just halfway through its move back down to the neckline, but a break below that support level could spur a drop that’s the same height as the formation.

The 100 SMA is still above the longer-term 200 SMA to indicate that the path of least resistance is to the upside. In other words, there’s still a chance for support levels to hold. However, the gap between the indicators has narrowed to reflect weakening bullish momentum and a potential bearish crossover. Ethereum is also moving below the 100 SMA as an early indicator of bearish pressure and might also be poised to fall below the 200 SMA dynamic inflection point.

RSI is already indicating oversold conditions, though, so sellers could take a break and allow buyers to take over from here. In that case, a bounce off these current levels could take ethereum back to the tops around $170 or higher. Stochastic is also turning up from the oversold region to signal that buyers are ready to return. A break below the $100 neckline, on the other hand, could lead to a selloff that’s around $70 in size.

Ethereum appears to have successfully completed its Constantinople and St. Petersburg upgrades without much of a hitch, but this outcome didn’t spur an immediate bullish reaction from price. This suggests that the positive sentiment from the previous month may have already run out of steam, and traders are hoping to get actual developments before reviving their long positions.

There is a lot riding on the Fidelity institutional platform launch said to push through this month, so progress might be enough to encourage bulls to return. Then again, the increased volumes could weigh on volatility for the time being.

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