Posted on

Top 5 Crypto Performers Overview: ONT, ADA, ETC, BCH, IOTA

As cryptos are currently rising from the bottom, the community has started hearing some bullish voices again.

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.

As the cryptocurrencies are rising from the bottom, we have started to hear some bullish voices again. Arthur Hayes, co-founder and CEO of BitMEX, expects the price of Bitcoin to reach $10,000 this year.

One of the events that can cause the price to move northward is the launch of Bakkt. The digital platform’s launch has reportedly been getting delayed due to compliance issues, as it planned to have custody of its customers’ Bitcoin. Nonetheless, the United States Commodity Futures Trading Commission (CFTC) has said that it is working on all the various crypto-related applications, including Bakkt. So, it could be only a matter of time before they get the green signal.

After the long bear phase, the current recovery is being led by various altcoins. Though the leader, Bitcoin, has only been crawling higher, the altcoins are seeing some sharp gains from the lows. The rise has reduced the dominance of Bitcoin in the past few weeks. In order to cover the altcoin rally better, we have chosen the top five performers among the coins that have a market capitalization of greater than $500 million.   

ONT/USD

Ontology is the top gainer of the past week, as the markets cheered the various announcements made in the past few days. Ontology entered into a partnership with MovieBloc, a new participant-centric film distribution platform, that is backed by Korean video streaming platform

Pandora.tv. Li Jun, founder of Ontology, said that the project had completed a loyalty-based points solution for Fosun, a Chinese international conglomerate and investment company that has about 100 million users. Ontology is also working on chemical supply chain tracking for the Lanxess group. Will the rally continue or will the traders book profits? Let us find out.

ONT/USD

The ONT/USD pair is in a smart pullback after hitting a low of $0.43598112 in December of last year. It is currently in the midst of forming a rounding bottom, which will complete on a breakout above $2.26296972. The minimum target objective of this reversal pattern is $4.08995832. The 20-week EMA has flattened out and the RSI is turning up. This shows that the bears are losing their grip.

We expect the bears to mount a strong defense at the current levels. But if the bulls scale and sustain above $1.22947704, the recovery can extend to $2.26296972. Short-term traders can buy on a weekly close (UTC time frame) above $1.22947704 and keep a stop of $0.78. This is a risky trade; hence, please keep the position size to only about 40 percent of normal.

ADA/USD

Cardano (ADA) completed a successful upgrade to version 1.5, which is the last major release of the Byron development phase. This update is an important step for moving to the Shelley development phase. After the rally, where does the price go from here? Let’s find out.

ADA/USD

The ADA/USD pair has risen sharply in the past seven days: it has broken out of the range and has risen above the 20-week EMA, which is a positive sign. It should now rally to $0.082952 and if this level is crossed, the next target is $0.094256.

Both the moving averages have flattened out and the RSI has also risen to the midpoint. This shows that the trend is changing.

Traders can buy 50 percent of the desired allocation on a weekly close (UTC time frame) above $0.051468, and buy the rest on a minor dip to the breakout levels. We are recommending two different buy levels because strong breakouts do not retrace, so if the pair continues to move up, the traders will have some chips in the game. But on most occasions, breakouts pullback; if that happens, we want to buy at lower levels. The stops can be kept at $0.0350.

ETC/USD

The week saw the resignation of Anthony Lusardi from his post as the U.S. director of the Ethereum Classic Cooperative. However, he reiterated that he will continue to be involved with the ETC cooperative and will do some side/programming projects for Ethereum Classic (ETC) and Bitcoin. He said that the social media pressures had become difficult for him to handle, leading to his resignation. Nevertheless, the price of the cryptocurrency did not take a hit due to the departure.    

ETC/USD

The ETC/USD pair is attempting to form a base near the lows: it can move up to $5.889.  The 20-week EMA is also located close to this level; therefore, we anticipate a strong resistance at $5.889.

If the bulls push the price above $5.889, it can rally to the next overhead resistance of $9.50. Therefore, traders can buy on a breakout and weekly close (UTC time frame) above $5.889 and keep a stop loss at $3.3.

If the digital currency turns down from $5.889, it might prolong its stay in the range for a few more weeks. It will weaken if it breaks below $3.3.

BCH/USD

Swiss-based cryptocurrency ATM operator Värdex Suisse has added support for Bitcoin Cash (BCH) on its devices. Swiss online retailer Digitec Galaxus will also now accept cryptocurrencies, and Bitcoin Cash is one of the many digital currencies on the list.

BCH/USD

The bulls have carried the BCH/USD pair to the first overhead resistance of $163.89. Above this level, the digital currency can move to the next overhead resistance of $239. The 20-week EMA is located just below this level. Hence, we anticipate a stiff resistance close to $239. The digital currency has a history of vertical rallies, so if it breaks out of $239, the move can reach $400 and higher.

Conversely, if the bears defend $239, the pair might extend its stay inside the range for a few more weeks. We do not find any buy setups at the current levels.

IOTA/USD

The crypto payments startup Zeux will add IOTA as a mode of payment at various stores that accept Samsung Pay and Apple Pay. Zeux will launch in Europe in April of this year, and will hit the U.S. in 2020. How does the future look on the charts? Let’s see.

IOTA/USD

The OTA/USD pair is attempting a basing pattern near the lows. It is likely to rise to the 20-week EMA and above it to $0.4081. We expect the bulls to mount a stiff resistance at this level.

If the price turns down from here, it will remain range-bound for a few more weeks. The trend will turn down if the digital currency breaks down to new yearly lows.

On the other hand, if the price scales above $0.4081, it can move up to $0.560 and above it to $0.6499. After this level is crossed, the rally can reach the stiff overhead resistance of $0.8152. We shall wait for the price to sustain above $0.4081 before proposing any trade in it.

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

Posted on

Crypto Markets Descend While Tech Stocks Surge

Cryptocurrency markets have seen a decline on the day, with most top coins hovering in the red and Bitcoin trading around $4,000.

Thursday, March 21 — Most of the top 20 coins by market capitalization are in the red, showing slight losses on the day, down from one to four percent.

Market visualization from Coin360

The leading cryptocurrency Bitcoin (BTC) is trading at $4,027 at press time, down about one percent over the 24-hour period. BTC has been trading sideways as of early trading hours, following a drop to as low as $4,007 in the middle of the day.

Bitcoin 24-hour chart. Source: CoinMarketCap

The top altcoin Ethereum (ETH) has seen a 1.87 percent downturn on the day and is trading at $137.21 at press time.

As reported earlier today, Vitalik Buterin said that high ether prices are important both for network security and the wider ecosystem’s development. In response to the question as to whether protocol designers and project leaders should be focusing on the question of a cryptocurrency’s price, Buterin referred to the “earlier rhetoric” of the Ethereum project, which had explicitly downplayed the importance of the asset’s value.

Ethereum 7-day chart. Source: CoinMarketCap

Ripple (XRP) has also lost about two percent over the past day and is trading at $0.312 at press time. The coin started the day at $0.318, dropping as low as $0.309 in the middle of the day.

Ripple 7-day chart. Source: CoinMarketCap

On CoinMarketCap’s listings, Tezos (XTZ) is the biggest gainer, up by 25.77 percent on the day and trading at $0.771 to press time.

Total market capitalization of all cryptocurrencies is around $139 billion at press time, down from its intra-day high of about $141.9 billion.

Total market capitalization 7-day chart. Source: CoinMarketCap

Earlier today, Cointelegraph reported that price correlations among major cryptocurrencies increased against the U.S. dollar (USD) but fell in BTC terms, according to a new report from crypto exchange Binance. The exchange found that behavior among assets is diverging depending on whether returns are denominated in USD or BTC.

Today, MarketWatch reported that U.S. stocks ended higher following a surge in tech shares that helped to lift key equity benchmarks. The S&P 500 has gained 1.09 percent to trade at around 2,854, while the Dow Jones Industrial Average has increased by 0.84 percent and is trading at around 25,962 at press time.

On the Asian market, mainland Chinese shares climbed on the day, as the Shanghai composite gained 0.35 percent and the Shenzhen component added 0.706 percent, according to CNBC. Shares of tech giant Samsung Electronics and chipmaker SK Hynix saw their stocks surge 4.09 percent and 7.66 percent, respectively.

Posted on

Top Cryptos Look Stable as Bitcoin Hovers Over $4,000

Most of the top 20 cryptocurrencies are reporting slight gains and losses as Bitcoin stays just over $4,000.

Sunday, March 17 — the top 20 cryptocurrencies are reporting very slight gains and losses on the day by press time. Bitcoin (BTC) has pushed back just over the $4,000 mark, according to CoinMarketCap data.

Market visualization

Market visualization from Coin360

At press time, Bitcoin is down under a quarter of a percent on the day, trading at around $4,037, according to CoinMarketCap. Looking at its weekly chart, the current price is over 2.4 percent higher than the price at which Bitcoin started the week.

Bitcoin 7-day price chart

Bitcoin 7-day price chart. Source: CoinMarketCap

Ethereum (ETH) is holding onto its position as the largest altcoin by market cap, which is at about $14.7 billion. The second-largest altcoin, Ripple (XRP), has a market cap of about $13.1 billion by press time.

ETH is down by about one percent over the last 24 hours. At press time, ETH is trading around $141, after having started the day at $140.50. On its weekly chart, Ethereum has seen its value increase by about three percent.

Ethereum 7-day price chart

Ethereum 7-day price chart. Source: CoinMarketCap

Second-largest altcoin Ripple has lost just over half a percent in the 24 hours to press time and is currently trading at around $0.318. Looking at the coin’s weekly chart, its current price is nearly one percent higher than $0.315, the price at which it started the week.

Ripple 7-day price chart

Ripple 7-day price chart. Source: CoinMarketCap

Ripple’s developer ecosystem project Xpring and game industry blockchain platform Forte have recently jointly established a $100 million fund to support game developers.

Among the top 20 cryptocurrencies, other than ETH, only five coins are seeing an over 1 percent change on the day to press time — Bitcoin SV (BSV), Monero (XMR), Iota (MIOTA), Ontology (ONT) and Nem (XEM).

The total market cap of all cryptocurrencies is currently hovering just under $140 billion at $139.9 billion, which is about four percent higher than $134.3 billion, the value it reported one week ago.

As Cointelegraph reported yesterday, Ethereum co-founder Joseph Lubin said that he expects the global economy will be 10 times larger in 10 to 20 years, when blockchain is fully ramified, and that blockchain will be involved in most of it.

Speaking at Austin’s SXSW conference on March 15, senior advisor for digital assets at the United States Securities and Exchanges Commission, Valerie Szczepanik, reportedly noted that stablecoins could experience issues under current securities laws.

Posted on

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.

Posted on

Top Crypto Performers Overview: Ethereum, Ethereum Classic, NEO, IOTA, Binance Coin, Stratis

As the market keeps maturing, some experts are pointing out correlations between the prices of crypto and some of the traditional assets.

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.

While 2017 was a raging bull market in cryptocurrencies, 2018 turned out to be a massive bear market that wiped out more than $720 billion in total crypto market capitalization. We believe that 2019 will bring back the focus on the fundamentals and the true potential of virtual currencies.

With the arrival of traditional investors, digital currencies will at times behave similar to the traditional markets. The Wall Street Journal recently pointed out that the correlation between Bitcoin trading and gold reached as high as 0.84 over a short period of time. Similarly, it has traded at a 0.77 correlation to the Chicago Board of Options Exchange’s Volatility Index (VIX).

As the market matures, it will carve out a niche for itself. We believe that cryptocurrencies are currently in a bottoming process and might signal a bottom within the next few weeks.

ETH/USD

After surrendering its position as the top altcoin to Ripple (XRP) a few weeks ago, Ethereum (ETH) is attempting a comeback. It has made giant strides last week and has emerged as the top performer among the major cryptocurrencies.

BitMEX CEO Arthur Hayes believes that the dead ICO market will spring back into action next year and will prove to be positive for Ethereum. He expects the cryptocurrency to rise to $200. Some are hoping that the network will get a boost from the upcoming Constantinople upgrade. However, it is always difficult to predict the market’s reaction to such a major event.

ETH

The long-term trend in Ethereum is down. It has lost a lot of money for its investors this year. However, after the fall, can the ETH/USD pair start a new uptrend in 2019?

After every rise and after every fall, the digital currency has a tendency to consolidate in a range. We have highlighted these periods with ellipses on our chart. In 2018, all the ranges have resolved to the downside.

Currently, the bulls are attempting a pullback after hitting a low of $83. The support line of the former range will now act as a stiff resistance. Because of that, we anticipate selling close to $167.32. If the bears succeed in defending this level, a range bound trading action might ensue.

On the other hand, if the bulls climb above $167.32, a rally to $249.93 is probable. The traders can wait for a close above $167.32 to establish long positions with a close stop loss.

Our neutral-to-bullish view will be invalidated if the price turns down and sinks below $83. We shall confirm the start of a long-term uptrend if the pair forms a large basing pattern and then breaks out of it. Until then, the traders should aim for small targets and book profits periodically.

ETC/USD

Ethereum Classic (ETC) turned out to be the second-best performer among the top cryptocurrencies. The market participants are bullish on the upcoming cohort slated for Jan. 14. 11 startups have been selected to get access to the shared office space, developer support and funding. Can the bull run continue? Let’s find out.

ETC

The long-term trend in the ETC/USD pair is down. Currently, the bulls are attempting to break out of the downtrend line that has capped all recovery attempts since May of this year.

A break out of the downtrend line will be the first indication that the momentum on the downside is waning. It can result in a rally to the next overhead resistance of $9.5. We anticipate a strong defense of this level by the bears.

If, however, the bulls fail to break out, the cryptocurrency can again slide back to the recent low of $3.3. Any break of this support can resume the downtrend.

After the long downtrend, we anticipate the virtual currency to enter a consolidation period before breaking out to a new uptrend. Therefore, long-term investors can wait for a reversal setup to form before building positions. However, short-term traders can stay on the long side after the price breaks out and closes above the downtrend line.

Featured cryptocurrency* — STRAT/USD

Stratis is currently at the 40th place in terms of market capitalization. Recently, it released the first Turing-complete smart contracts to execute .NET code on-chain and its first sidechain, Cirrus, to the Stratis mainchain. These will provide the businesses and the blockchain developers the perfect platform to create bespoke blockchains tailored to specific applications.

The past few months have seen a slew of announcements by the Stratis group. It partnered with MediConnect, the company that focuses on blockchain solutions for the pharmaceutical industry.

It also became a certified Microsoft Independent Software Vendor (ISV) a couple of months back, which was a major step ahead. With a positive fundamental news flow, is it a good time to buy the cryptocurrency? Let’s see.

STRAT

The STRAT/USD pair was severely hit by the ongoing bear market. Its prices plunged from a high of $24.39960825 in early January of this year to a low of $0.53353976 in mid-December, a loss of 97.81 percent.

However, the positive thing is that it has participated in the recent pullback.

From its low of $0.53353976 on Dec. 14, it recovered to a high of $1.84123616 on Dec. 24, a rally of 245 percent in 10 days. Currently, the bulls are attempting to stall the pullback at the 20-day EMA.

If successful, the cryptocurrency will again attempt to move toward the overhead resistance of $1.91493444. If this level is crossed, the recovery can extend to $2.14656768. We anticipate a new uptrend to start if the bulls sustain the price above this level.

Traders can wait for the price to rebound from the 20-day EMA and rise above $1.46 to establish long positions with the stop loss placed just below $1.15. Partial profits can be booked close to $1.84 and the stops on the rest can be trailed higher.

However, if the bears sink Stratis below the moving averages, it will lose its momentum and can correct to $0.81338679, below which a retest of the low is probable.

NEO/USD

NEO has announced their second edition of DevCon on Feb. 19. The founder of NEO, Da Hongfei, is undeterred by the current bear market. He believes that the price of the cryptocurrency only tells a part of the story, as it is primarily driven by sentiment. Hongfei continues to focus on the project and the ecosystem and has called the current phase as, “ContiNEO – We keep on going,” Forbes reported.

NEO

The NEO/USD pair is in a strong downtrend. From a high of $200.59839784 reached in mid-January of this year, it dropped to a low of $5.4808 in mid-December. Currently, the bulls are attempting to pull back from the oversold conditions.

Any recovery will face a stiff resistance at $13.60337627. Previously, this level had acted as a strong support for about three months, so it will act as a strong resistance now.

If the bulls fail to scale the overhead resistance, we anticipate a consolidation period of a few days. The downtrend will resume if the bears plunge the cryptocurrency below $5.4808 once again. The traders should wait for a trend reversal before initiating fresh long positions in it.

IOTA/USD

IOTA has been attempting to climb back into the top 10 cryptocurrencies by market capitalization but has not been successful. Last week, it was the fourth best performer. How does its chart look now?

IOTA

The IOTA/USD pair is attempting to form a basing pattern. It is currently facing selling at the previous support-turned-resistance of $0.4037. If the bears continue to defend this level, we anticipate a consolidation between $0.2051 and $0.4037 for a few weeks.

Contrary to our expectation, if the bulls break out of $0.4037, it will indicate that the markets have rejected the lower levels. In such a case, a move to $0.8152 is probable.

Aggressive traders can look to enter long positions on a close above $0.4037, whereas the long-term investors can wait for a new uptrend to start before buying it.

BNB/USD

In a letter titled “2018 Binance Year-End Review,” Binance CEO Changpeng Zhao has painted a positive picture of the crypto industry. He has also outlined the various plans for the Binance exchange and its own cryptocurrency. What does the chart project? Let’s find out.

BNB

The BNB/USD pair has been a relative outperformer. It successfully held the support at $4.5200621 for four weeks, after which the bulls started a pullback attempt.

For the past two weeks, the bulls have kept the price above $5.4666, which is a positive sign. This shows that the markets have rejected the lower levels. The digital currency is likely to rise to the resistance line of the descending channel, closer to $8.25. The short-term traders can attempt to ride this move higher.

However, the long-term investors should wait for the price to break out of the channel before attempting a trade in it. Our bullish view will be invalidated if the bears plunge the digital currency below $4.1723848.

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

*Disclaimer: Stratis is a featured cryptocurrency from one of Cointelegraph’s sponsors, and its inclusion did not affect this price analysis.

Posted on

Markets Take Renewed Downturn, Cryptos Hit By Strong Losses Across The Board

Markets have taken a renewed plunge, with virtually all of the top 100 cryptocurrencies in the red today.

Friday, Dec. 28 — markets have taken a renewed plunge, with virtually all of the top 100 cryptocurrencies in the red and many high market cap alts seeing losses of between 5 and 12 percent, as data from Coin360 shows.

Market visualization

Market visualization by Coin360

Fourth-largest cryptocurrency Bitcoin Cash (BCH) has led the downturn, seeing a steep 12.15 percent loss on the day to trade at $126. Today marks a low-point on the alt’s 7-day chart, at the start of which it was trading over $220.

Bitcoin Cash 7-day price chart

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

Bitcoin (BTC) has seen a more moderate loss of around 4 percent on the day, and is trading at $3,605 to press time. Having hit intra-week levels as high as around $4,230 on Dec. 23, the top coin’s renewed downturn have all but reversed recent gains and Bitcoin is back trading close to its value mid-December.

Bitcoin’s losses remain a mild 2.4 percent on the week and 3.6 percent on the month.

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 over 5 percent on the day, according to Cointelegraph’s Ripple Price Index. Notwithstanding an intraweek spike to $0.45 on Dec. 23, Ripple has mostly been trading range bound between $0.35 – $0.39. The alt has today come close to the price point it held on Dec. 21 — weekly losses are at a mild 1 percent; on the month, the Ripple is down over 4 percent.

Ripple 7-day price chart

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

Ethereum (ETH), ranked third by market cap, is down over 7 percent and trading at $115 at press time. Following intra-week highs of over $150, the alt has virtually come full circle on the week, reversing recent growth.

Ethereum’s 7-day price chart

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

Among the top ten coins on CoinMarketCap, Bitcoin SV (BSV) has shed close to 11 percent on the day to trade at $83.20. EOS (EOS), Stellar (XLM) and Litecoin (LTC) have all shed 6-7 percent on the day.

Among the top twenty, Ethereum Classic (ETC) and Nem (XEM) are down the most, shedding 8.3 and 9.2 percent at $4.82 and $0.06 respectively.  Dash (DASH), Cardano (ADA) and Tron (TRX) are all down over 7 percent — the strongest 24-hour performer is IOTA (MIOTA), which is down a milder 3.8 percent on the day at $0.31.

Total market capitalization of all cryptocurrencies is at around $120.4 billion as of press time — down from an intraweek high of over $146.5 billion on Dec. 24.

7-day chart of total market capitalization of all cryptocurrencies

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

Posted on

Markets Remain Checkered After Christmas With Red and Green Across the Board

Markets are tentatively recovering after hefty losses hit all major cryptocurrencies yesterday on Christmas Day.

Friday, Dec. 26 — crypto markets are tentatively recovering after hefty losses hit all major cryptocurrencies yesterday on Christmas Day. All of the top 10 coins by market cap are seeing mild losses or gains of within a three percent range both red and green, as data from Coin360 shows.

Market visualization by Coin360

Market visualization by Coin360

Bitcoin (BTC) has seen negligible price change over the 24 hours before press time, and is currently trading around $3,804. After a steep price dip yesterday, the coin is stemming further losses and is holding at a price change close to the start of its weekly chart. Overall on the week, Bitcoin has veered between as high as over $4,236 on Dec. 23, to today’s lower price point.

Bitcoin’s swings have resulted in an around 7 percent gain on the week; on the month, the coin is a mild 1.3 percent in the red.
Bitcoin 7-day price chart. Source: Cointelegraph’s Bitcoin Price Index.

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

Second-largest crypto by market cap Ripple (XRP) has continued to shed some value, after having shouldered double-digit losses yesterday. The asset is trading at $0.37, down just over 2 percent on the day, according to Cointelegraph’s Ripple Price Index. Notwithstanding an intraweek spike to $0.45 on Dec. 23, Ripple has mostly been trading range bound between $0.35 – $0.39. On the week, the alt has come full circle to the same price point; monthly losses are about 2.4 percent.
Ripple 7-day price chart. Source: Cointelegraph’s Ripple Price Index.

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

Ethereum (ETH) — ranked third by market cap — has inched up a sliver of a percentage point over the past 24 hours, and is currently trading at $127. Despite a bearish performance yesterday as the wider market crash, Ethereum remains a bullish 35 percent in the green on its weekly chart, and is comfortably in green on the month, up by around 14 percent.

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

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

The CEO of major Hong Kong-based cryptocurrency trading platform BitMEX Arthur Hayes told Cointelegraph Japan today he believes initial coin offerings (ICO) will return within 18 months and Ethereum will see an aggressive rebound to soon test $200.

Fourth-largest cryptocurrency Bitcoin Cash (BCH) has sealed stronger 24-hour gains, and is currently close to 4 percent up on the day at $170. Having seen large growth this week, the coin is up by around 93 percent up on its weekly chart — and down by around 12.3 percent on the month.

Among the top ten coins on CoinMarketCap, EOS (EOS) is another strong performer, seeing 3.8 percent growth at $2.56. Tron (TRX) is also up a solid 3.5 percent at $0.02, while Litecoin (LTC) is down by around 2 percent at $29.98.

Among the top twenty, Ethereum Classic (ETC) has outstripped all other assets in terms of 24-hour growth, up about 12 percent at $5.14. Milder gains have been seen by NEO (NEO), up 2.5 percent at $7.49 and Cardano (ADA), up 2.48 percent at $0.04. Privacy-focused altcoins Monero (XMR) and ZCash (ZEC) are down 0.5 and 1.1 percent, at $48.41 and $59.96 at press time.

Total market capitalization of all cryptocurrencies is at $128.1 billion as of press time — down from an intraweek high of over $146.5 billion on Dec. 24. It nonetheless remains significantly higher than a low of $114.9 billion at the start of the 7-day chart on Dec. 18.
7-day chart of total market capitalization of all cryptocurrencies from CoinMarketCap

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

In news for the Asian crypto markets today, Japan’s Mizuho Financial Group has revealed plans to introduce a digital currency to be used for remittances and payments this coming March.

Meanwhile, the Asia fintech and crypto leader of audit firm PwC Hong Kong has predicted that many institutional players will enter the crypto industry in 2019, citing increasing regulatory clarity as a key factor.

Posted on

All Cryptos See Major Losses as Market Hit by Distinctly Unfestive Correction

Crypto markets are lacking in Christmas cheer, with virtually all of the top 100 coins by market cap in the red.

Friday, Dec. 25 — crypto markets are lacking in Christmas cheer, with many major crypto assets hit with double-digit losses. Virtually all of the top 100 coins by market cap are in the red, as data from Coin360 shows.

Market visualization by Coin360

Largest cryptocurrency Bitcoin (BTC) has plummeted over 9 percent on the day, and is trading at $3,812 as of press time, according to Cointelegraph’s Bitcoin Price Index. After bullish growth yesterday, Christmas eve, to break over $4,236, the top coin has been trading as low as $3,755 in the trading hours before press time — an around $500 drop.

Over these past seven days, Bitcoin’s trading pattern has been characterized by high volatility — veering between reclaiming the $4,000 price point and beyond, to dipping back down towards the $3,700–$3,800 range.

While the coin is still a strong 17.2 percent higher than its value at the start of its weekly chart, on the month, Bitcoin is down by around 12 percent.

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

Second-largest crypto by market cap Ripple (XRP) has fared even worse, shedding a stark 15 percent over the 24 hours before press time, according to Cointelegraph’s Ripple Price Index. The asset is currently trading at $0.38 — following an intraweek peak at $0.45 yesterday. On its weekly chart, Ripple is nonetheless a strong 31.5 percent in the green, with monthly losses at a mild 7 percent.

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

Ethereum (ETH) — ranked third by market cap — has lost over 18 percent on the day and is trading at $127 to press time. During yesterday’s mini-rally, Ethereum had broken above $150 — its highest price point in around five weeks.

Ethereum is a bullish 51.5 percent in the green on its weekly chart, and it has inched into green on the month, up by around 5 percent.

Yesterday’s price hike in the context of Ethereum’s 3-month price chart. Source: Cointelegraph’s Ethereum Price Index

Fourth-largest cryptocurrency Bitcoin Cash (BCH) is down around 20.7 percent and is trading at $164 as of press time. Having seen astonishing volatility as of late, the coin is around 113 percent up on its weekly chart — and down by around 27 percent on the month.

Newly-forked Bitcoin SV (BSV), currently ranked ninth largest cryptocurrency, is down around 15 percent at $93, according to CoinMarketCap data.

Including BTC, XRP, ETH and BCH, sixteen of the top twenty coins on CoinMarketCap are down by between 10 and 19 percent on the day. Stark losses have hit cryptos such as Litecoin (LTC) — down almost 12 percent at $31.09 — IOTA (MIOTA) — down 14 percent at $0.33 —  and Cardano (ADA), down 16 percent at $0.04.

Dash (DASH) is down by around 16 percent at $82; Ethereum Classic (ETC) is down around 13 percent at $4.72. Privacy-focused altcoins Monero (XMR) and ZCash (ZEC) are down 10.8 and 12 percent, at $50.5 and $61.57 at press time.

Total market capitalization of all cryptocurrencies is at $128.8 billion as of press time — having hit over $147.8 billion yesterday. It nonetheless remains up from a low of $114.2 billion at the start of the 7-day chart on Dec. 18.

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

Earlier today, news broke that Japanese internet giant GMO Internet Group is quitting the Bitcoin mining hardware sector, after reporting an “extraordinary loss” in Q4 this year, amid the unrelenting crypto bear market.

On a more positive note for adoption, blockchain protocol TRON (TRX) passed one million user accounts this week, even as the token has not been spared today’s blisteringly red markets.

Posted on

Top Cryptos See Mixed Gains & Losses, Bitcoin Fights to Stay Over $3,200

Top cryptocurrencies report moderate losses and Bitcoin briefly dips under the $3,200 mark in the past 24 hours.

Saturday, Dec. 15: the top 20 cryptocurrencies report a mix of moderate gains and losses, with Bitcoin (BTC) briefly dipping under $3,200 before climbing back above the price mark by press time.

coin360

Market visualization from Coin360

Bitcoin started the day around $3,228, but after a mid-day high of $3,275, it fell back to the current price of $3,232, after touching its lowest point of $3,191 earlier today.

At press time, Bitcoin is down a fraction of a percent over the last 24 hours. On the weekly chart, the prices in the past two days have been the lowest, down from a weekly high of $3,600.

btc

Bitcoin 7-day price chart. Source: CoinMarketCap

Ripple (XRP), the second largest crypto by market capitalization, lost 1 percent in the last 24 hours. It started the day at $0.286 and is currently trading around $0.284 after a mid-day high of $0.292. On the weekly chart, the current price is the lowest, seven days ago Ripple was worth about $0.32.

Ripple

Ripple 7-day price chart. Source: CoinMarketCap

Ethereum (ETH) remains the third cryptocurrency by market cap, losing just a under half a percent of its value in the last 24 hours. At press time, ETH is trading at $84.33, after having started the day around $84 and trading sideways during the day.

On the weekly chart, the current ETH prices today are the lowest. Seven days ago Ethereum was trading at $87, but then shortly peaked at $98.90 last Sunday, Dec. 9, before starting a decline towards the current price.

ETH

ETH 7-day chart. Source: CoinMarketCap

Among the top 20 cryptocurrencies, several coins are seeing more notable growth. EOS (EOS) is up a solid almost 6 percent, while IOTA (MIOTA) is up 4.29 percent on the day, and Dash (DASH) is up almost 5 percent.

The only top ten cryptocurrency reporting more than 2 percent losses is Bitcoin SV (BSV), having lost close to 5 percent in the last 24 hours.

As Cointelegraph reported Dec. 13, according to a study, while crypto prices have been decreasing, this year the number of verified crypto users nearly doubled. A Bloomberg analysis of the report says that the growth of crypto’s user base while markets are declining “could signal that an eventual recovery could be coming.”

Jeremy Allaire, the co-founder of cryptocurrency company Circle, recently told CNBC in an interview that in three years time, Bitcoin will be worth “a great deal more” than it is now.

Status, an Ethereum-based open source chat platform has recently laid off one-fourth of its staff due to the recent decline in cryptocurrency prices. In an announcement, the startup’s co-founder said that Status is “much larger than we can sustain.”

Posted on

Altcoin Daily Preview: Stellar Lumens—IBM Partnership Indispensable as IOTA Reveal Alpha and Omega, Path to Decentralization

Latest Stellar Lumens News

Thing is, if implemented properly, Blockchain will disrupt businesses, governance systems and even value exchanges. Aside from supply chain management, blockchain is definitely shaping for the banking industry.

It’s because of this that Stellar and Ripple—two firms are merging the possibilities of blockchain based solutions in existing financial architecture with the aim of providing financial services for everyone, everywhere–are hailed as the future of finance and banking.

Read: XRP Architect, Ripple’s Schwartz Harrowed Over Crypto Adoption

While Ripple is better capitalized, Stellar is fast catching up and executing according to their original road map. Encouragingly, there is progress.

The recent launch of Interstellar, Stellar collaboration with IBM back in 2017 many more companies are not hesitating from using the platform’s rail fast-tracking the achievement of one of the company’s tenets: That of advancing global financial literacy, advocating for inclusion and providing cheap cross-border solutions.

XLM/USD Price Analysis

Despite the dip in digital asset prices, XLM has been in range mode for the better part of the year. In fact, just before the recent break below the 15 cents-20 cents main support line, XLM/USD prices were confined in a 15 cents range with caps at 30 cents and floors at 15 cents. Because of this, XLM/USD is trading within a bear breakout pattern and though steady, the path of least resistance is southwards.

Unless otherwise there are gains above Dec 9 highs at 13 cents, bears are likely to drive prices below Dec 6 lows of 10 cents. Once that prints out, it will be inevitable for Stellar to test 8 cents or lower by the end of the year.

However, as it is support is subject to BTC performance and the collapse of the king could send reverberation across the digital asset space.

Our XLM/USD is constant and will be as follows:

Buy: 13 Cents

Stop: 11 Cents

Target: 17 Cents

Latest IOTA News

After days of Coordinator, Coordicide talk and the sober assessment that the platform was to some extent “centralized”, IOTA is moving on towards complete decentralization.

 

The Coordinator is a centralized, protection mechanism shielding the network from double spending. It is a necessary checkpoint in a proof of work mechanism which the network leverage.

Also Read: Swift CEO To Step Down After 7 Years at The Helm

With the decoupling will make re-align the network according to the ideals of Satoshi Nakamoto though there is no mining.

To this end, the IOTA Foundation has unveiled two development teams—the Alpha Team to deal with development within the ecosystem. The Omega team which will see the accomplishment of IOTA’s objectives.

IOT/USD Price Analysis

IOT/USD Price Analysis

From an effort versus result point of view, IOT/USD is technically bullish all thanks to the Dec 7, 1800HRs price surge.

Even if sellers have an upper hand, sellers are literally trying hard to erase gains of Dec considering IOT/USD has been in consolidation mode in the last week. Better still, prices are confined within Dec 7 high-low. Because of this, our buy triggers are set at 25 cents.

If buy momentum pick up and propel IOTA above this level then first target will be at 34 cents or Nov 21 highs. On the reverse side, losses below 20 cents could ignite panic sells towards 15 cents or lower.

This is our IOT/USD trade plan:

Buy: 25 Cents

Stop: 24 Cents

First Target: 30 Cents

All Charts Courtesy of Trading View

This is not Investment or Financial Advice. Do your own Research.

The post Altcoin Daily Preview: Stellar Lumens—IBM Partnership Indispensable as IOTA Reveal Alpha and Omega, Path to Decentralization appeared first on Ethereum World News.