Altcoins: LINK, HT, XRP and TRX 29063

LINK/USD

Chainlink (Link) has been among the top performers for the past three consecutive weeks. This shows that it is backed by momentum. However, after the stellar rise, can it continue its uptrend or will it succumb to profit booking?

LINK/USD

The LINK/USD pair recently closed above $2.0531 and this triggered our buy which was suggested in an earlier analysis. Our first target of $2.8498 was achieved last week, which shows that the bulls are not expecting a large fall, hence, are buying at higher levels.

Though the bulls pushed the price above $2.8498 during the week, they have not been to sustain the breakout. This shows profit booking by the short-term traders at the resistance level. However, with the rise in the past two weeks, the 20-week EMA has started to turn up, which shows that the advantage is with the bulls.

If the bulls can propel the price above $3, we expect the up move to reach $4 and above it $4.5826. Conversely, if the bulls fail to scale above $3, the pair might remain range-bound for a few more weeks. Our view will be invalidated on a break below $1.4612.

BNB/USD

Binance Coin (BNB) has made a comeback into this list after a long absence. Let’s look at the events of the past seven days that have ignited trader’s interest in it. Recently, the exchange launched the eighth phase of its lending product which allows owners to earn an annualized percentage yield of as high as 10% for a few cryptocurrencies.

Expanding its services, Binance launched peer-to-peer trading for its Android app users in China. The service will be available for Bitcoin, Ether and Tether (USDT) against the Chinese yuan. Binance CEO Changpeng Zhao said that this service will be expanded to other regions soon. Zhao also confirmed that users are able to use WeChat or Alipay for P2P transactions for payment, but both companies swiftly denied that this was true. Has BNB bottomed out or is it ready for an up move? Let’s study its chart.

BNB/USD

The bears could not capitalize on the sharp breakdown below $18.30 over the past two weeks. This resulted in a pullback that can carry the BNB/USD pair to the resistance line of the channel. As the downsloping 20-week EMA is also located at this level, we anticipate the bears to defend this resistance.

If the price turns down from the resistance line of the channel, it can again dip towards $14.2555. A breakdown of this support will resume the downtrend but if the price rebounds off this level, it will indicate a bottom formation.

A breakout and close above the channel will indicate an end of the downtrend. Traders can initiate a long position on a close (UTC time) above the channel and keep a stop loss of $14. The first target will be a move to $33 and above it, a retest of the lifetime highs is possible.

HT/USD

Huobi Token (HT) rallied just above 10% in the past seven days and turned out to be the third best performer. Investors are now wondering whether it bottomed out and is now ready for the next leg of its upside move?

HT/USD

The pullback in the HT/USD pair found support just below the 50% retracement level of the rally from the lows of $0.88 to the highs of $5.3506. This is a positive sign and it shows that bulls are stepping in to buy on dips.

On the upside, the bulls might face some resistance at $3.67 and $4.37. If both levels are crossed, a rally to $5.3506 will be on the cards. Traders can wait for the price to rise and close (UTC time) above the 20-week EMA before buying. A stop loss can be kept at $2.90.

Our bullish view will be invalidated if the pair turns down from one of the overhead resistance levels and plummets below $2.90. If that happens, a dip to $2.5878 is possible.

XRP/USD

Ripple has merged three of its services, xRapid, xVia, and xCurrent, into its RippleNet offering. With this move, “instead of buying xCurrent or xVia, customers will connect to RippleNet — on-premises or through the cloud — and instead of buying xRapid, clients will use On-Demand Liquidity,” said a Ripple spokesperson.

Bank of America (BoA) is also rumored to have hired a “treasury product manager” for Ripple. This shows that the bank is warming up to cryptocurrencies in some form. Similarly, United Kingdom-based financial software firm Finastra has joined RippleNet, which will help its customers with cheaper and faster cross-border payments.

For the past few days, Ripple Labs has been at the receiving end of criticism by some community members. However, Ripple CEO, Brad Garlinghouse, defended the company and said that its transparency has made it vulnerable to attack. While the  fundamentals are encouraging, has the technical picture also turned positive? Let’s study XRP’s chart.

XRP/USD

The relief rally in the past two weeks reached the first overhead resistance at the 20-week EMA. A breakout of this level will again hit a roadblock close to the 50-week simple moving average (SMA) and above it at the downtrend line of the descending triangle. If the bulls push the price above the triangle, it will invalidate the bearish pattern, which is a bullish sign.

Aggressive traders can buy on a close (UTC time) above the 20-week EMA and keep a stop loss of $0.215. Risk-averse traders, however, should wait for the price to breakout and close above the triangle to buy.

Both moving averages are flattening out and the RSI is gradually rising to the midpoint. This suggests that the selling pressure has subsided. Our view will be invalidated if the pair turns down from one of the overhead resistance levels and plunges below $0.22.

TRX/USD

This week Tron (TRX) has teamed up with the Stellar Development Foundation to form a new educational alliance that will provide working knowledge about blockchain technology to  university students. Let’s see if we can spot a buy setup on the TRX/USDT pair.

TRX/USD

The TRX/USDT pair is facing resistance close to $0.018660. This level has acted as a stiff barrier over the past few weeks. If the bulls fail to scale it once again, the pair might again dip towards the critical support of $0.011240. A breakdown of this support will be a negative sign and could point toward a new downtrend.

However, if the bulls can push the price above $0.018660 with strength, the large range of $0.011240-$0.0409111 will come into play. It is possible that the moving averages could act as resistance but we expect them to be crossed. Therefore, traders can buy on a close (UTC time) above $0.01860 with a stop loss of $0.0110. The first target target being $0.030 and above it $0.0409111.

The market data is provided by the HitBTC exchange.

Previous ArticleNext Article

Leave a Reply

Your email address will not be published. Required fields are marked *

OK Group Launches OK Recruit, A Blockchain Talent Development Scheme 6131

OK Group, the world’s leading blockchain enterprise, announced the launch of the blockchain talent recruitment and training plan, called OK Recruit, which is expected to create hundreds of job opportunities in the blockchain industry, including positions on research, development and applications. OK Group will also train more than 1,000 blockchain elites within 3 years through partnerships with major universities and scientific research institutions in China.

As the COVID-19 epidemic continues to spread globally, many technology companies have been severely affected and even started to lay off employees. Given that, it’s unusual for companies to conduct such large-scale recruitment at this moment, which also implied a strong development momentum of the blockchain industry.

According to the announcement, OK Recruit consists of three parts, including recruitment, training and recommendation. In terms of talent recruitment, OK Group will offer hundreds of positions, among which, the main ones are in the blockchain research and application field, such as Blockchain Development Engineer, Senior Java Engineer (Blockchain), and Senior iOS Development Engineer. Others positions like marketing and operations are also open for applications as well.

In addition, OK Group will set up a special fund for blockchain personnel training, to encourage potential talent to join in blockchain industry. At the same time, OK Group will continue to strengthen cooperation with local universities and scientific research institutions to promote the construction of talent echelon.

As one of the earliest blockchain companies established in China, OK Group has been committed to promoting the research, development, and commercial adoption of blockchain technology, and is always standing at the forefront of talent development and training programs.

In recent years, OK Group has established a number of blockchain technology research institutions, among which, the Blockchain Business School has been promoting the spread of blockchain knowledge and talents through the development of courses and special lectures. Besides, OK Group also established a blockchain engineering institute focusing on the research and development of underlying technologies and public chains.

About OK Group
OK Group focuses on the R&D and application of blockchain technology. The company provides blockchain services and applications, including stablecoin, blockchain explorer, blockchain big data, blockchain asset custodian services, and blockchain training institutions. OK Group owns LEAP Holdings Group Limited (1499.HK), a listed company in Hong Kong.

A recent survey by CHILDLY finds that 66% support digital asset taxation as it becomes the norm 5945

In the midst of continuously arising questions and confusion surrounding digital assets taxation, a recent survey polled over 5,750 users worldwide by CHILDLY’s Dove Wallet has found that 66 % of all respondents were in support of it. In particular, nearly half of the respondents expressed a strong support view, considered it as an obligation & duty.

On the contrary, 20% of survey participants have dissented with their disapproval. Among those dissents, 11% of respondents expressed their strong opposition to digital asset taxation, insisting that a completely new & different framework & tax rules are needed. 9% also showed the opposing opinion with concern that taxing digital assets is premature and too early with very little or no understanding.

While taxation rules in many countries are taking shape rapidly, some of the survey results from countries such as Korea, now drawing up its tax proposal, also showed still remaining discontented feelings about digital assets taxation interestingly. According to the survey, more than 53% of users from Korea expressed a dissenting opinion.

Overall, such a high approval rating for digital asset taxation can be interpreted as a reflection of expectations for full-fledged regulation & legalization, which means a bigger digital assets market with the inflow of financial opportunities.

“Although many countries have already begun its taxation on digital assets, voices of those asking for the more judicious approach to applying tax rules should be heard at all levels,” said Euntai Kim, CEO of Childly.

Visiongain Launches Report Examining the Potential in the $3bn Aviation Blockchain Market 5630

Forecasts by Vertical (Commercial, Military), End User (Airlines, MRO, OEMs, Airports, Lessors), Application (Cargo and Baggage Tracking, Passenger Identity Management, Flight and Crew Data Management, Frequent Flyers Program, Smart Contracts, Supply Chain Management, Aircraft Maintenance), Function (Record Keeping, Transaction) PLUS Profiles of Leading Companies and Regional and Leading National Market Analysis

• Do you need definitive Aviation Blockchain market data?
• Succinct Aviation Blockchain market analysis?
• Technological insight?
• Clear competitor analysis?
• Actionable business recommendations?

The recent developments in Aviation Blockchain technologies, has led Visiongain to publish this timely report. The $503.8 million Aviation Blockchain market is expected to flourish in the next few years because of increasing use of blockchain in supply chain management. If you want to be part of this growing industry, then read on to discover how you can maximise your investment potential.

Report highlights

• More than 200 quantitative tables, charts, and graphs

Analysis of key players in Aviation Blockchain market players
• IBM
• Microsoft
• Infosys
• Accenture
• Aeron Labs
• Winding Tree
• Skybuys
• Avinoc Ltd
• 14bis Supply Tracking
• Moog

To request sample pages from this report please contact Sara Peerun at sara.peerun@visiongain.com or refer to our website: https://www.visiongain.com/report/aviation-blockchain-market-report-2020-2030/#download_sampe_div

• Global Aviation Blockchain market outlook and analysis from 2020-2030

Aviation Blockchain forecasts and analysis from 2020-2030
• Vertical including Commercial and military
• End user including airlines, MRO, OEMs, airports and lessors
• Application including cargo and baggage tracking, passenger identity management, flight and crew data management, frequent flyers program, smart contracts, supply chain management, aircraft maintenance
• Function including record keeping and transaction

Regional Aviation Blockchain market forecasts from 2020-2030
• North America forecast 2019-2029
• Asia Pacific forecast 2019-2029
• Europe forecast 2019-2029
• Rest of the world forecast 2019-2029

Key questions answered
• What does the future hold for the Aviation Blockchain industry?
• Where should you target your business strategy?
• Which applications should you focus upon?
• Which disruptive technologies should you invest in?
• Which companies should you form strategic alliances with?
• Which company is likely to success and why?
• What business models should you adopt?
• What industry trends should you be aware of?

Riot Blockchain Announces March 2020 Production Update 10827

Riot Blockchain, Inc. (NASDAQ: RIOT) (“Riot” or the “Company”), one of the few Nasdaq listed public cryptocurrency mining companies in the United States, announces a production update for the month of March 2020.

  • During March 2020, the Company produced 102 newly mined bitcoins (BTC) with the new Bitmain S17’s fully deployed for the entire month of March 2020.
  • As a comparison, prior to the Oklahoma City mining facility upgrade, Riot produced 45 BTC in December 2019 with approximately 7,500 S9’s, but no S17’s yet deployed. Post upgrade, the March 2020 production resulted in a 126% increase of BTC when compared to December 2019.
  • Riot’s bitcoin inventory has increased by 14% since February 29 to 819 BTC as of March 31.
  • The Company is currently operating approximately 4,000 S17s and a nominal amount of S9s with an aggregate hashing power capacity of 248 Petahash per second.
  • As of the March 25, 2020 network-wide difficulty adjustment, the bitcoin network experienced a reduction of 16% in difficulty. Future changes in the network-wide hash rate and difficulty will impact Riot’s production of BTC.

As previously announced, the Company intends to release monthly unaudited production results from its mining operation through May 2020, at which point the Company will re-evaluate how best to keep shareholders apprised.

Per the 2019 financial results press release issued on March 25, 2020, Riot is continuing to monitor COVID-19 and its potential impact on the Company’s workforce, operations, finance and liquidity. Riot intends to continue monitoring the situation and will provide updates if and when necessary. Riot began operating under COVID-19 contingency plans several weeks ago and continues to take steps relative to the pandemic to address potential impacts on employees and operations. Thankfully, to date impacts have been minimal.

About Riot Blockchain
Riot Blockchain (NASDAQ: RIOT) specializes in cryptocurrency mining with a focus on bitcoin. Riot also holds non-controlling investments in blockchain technology companies. Riot is headquartered in Castle Rock, Colorado, and the Company’s mining facility is located in Oklahoma City, Oklahoma. For more information, visit www.RiotBlockchain.com.

Safe Harbor
The information provided in this press release may include forward-looking statements relating to future events or the future financial performance of the Company. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Words such as “anticipates,” “plans,” “expects,” “intends,” “will,” “potential,” “hope” and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based upon current expectations of the Company and involve assumptions that may never materialize or may prove to be incorrect. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties. Detailed information regarding factors that may cause actual results to differ materially from the results expressed or implied by statements in this press release relating to the Company may be found in the Company’s periodic filings with the Securities and Exchange Commission, including the factors described in the sections entitled “Risk Factors,” copies of which may be obtained from the SEC’s website at www.sec.gov.

California Department of Alcoholic Beverage Control Taps HHS Technology Group to Modernize Statewide Licensing Platform 16845

HHS Technology Group, LLC™ (HTG) announced today that it has been awarded a multiyear contract through a transparent application process to develop and deploy a new business application: The Responsible Beverage Service (RBS) application will be provided by the California Department of Alcoholic Beverage Control (ABC).

As a leader in modular software solutions and agile software development, HTG has been selected to provide ABC with a state-of-the-art platform for addressing new licensing and educational requirements that impact an estimated 1 million workers across the state. Since the establishment of the RBS Training Program Act, the California Department of Technology and ABC have been working to ensure alignment and compliance with the new legislation, which is effective July 1, 2021. Key parameters of the legislation, which aims to ensure that those who serve alcohol are properly trained and educated, call for the implementation of mandatory training, as well as the development and regulation of standards for the approval of RBS training providers.

HTG, which has a proven track record of delivering critical information systems to state governments, was selected by ABC to design and build the information infrastructure that will support the legislation’s implementation.

Additionally, HTG is one of just six supplier partners under the National Association of State Procurement Officials’ ValuePoint contracting arm that has been awarded a Master Agreement for the development, licensing, implementation and operation of modular based Provider Services software solutions.

About HHS Technology Group, LLC
HHS Technology Group is a software and solutions company serving the needs of commercial enterprises and government agencies. HHS Tech Group delivers purpose-built, modular software products, solutions, custom development, and integration services for modernization and operation of systems that support a wide spectrum of business and government needs. For more information about HHS Technology Group, visit www.hhstechgroup.com

Advertising Industry Being Disrupted by ASK Permission First Ad Blockchain 17675

Permission.io announced today that it has signed an advisory agreement with RockTree LEX to provide strategic support as part of the company’s aggressive growth plans into Asia as they lead a new category of digital advertising called “Opt-in Value Exchange.”

RockTree LEX will assist Permission.io with their cross-border blockchain legal compliance and go-to-market strategy as the company enters the Greater China region, where the e-commerce markets are larger than both the US and UK markets combined1, and where e-commerce shoppers are readily primed through developed reward programs for a switch to an opt-in value exchange model.

RockTree LEX is a blockchain-focused professional services platform specializing in providing international legal compliance, transaction execution, overseas investment, token exchange listing and global expansion for top-tier blockchain projects.

“We identify blockchain projects with real utility potential combined with massive markets waiting to be unlocked, then help them localize and rapidly scale into Asia,” said Omer Ozden, CEO of RockTree LEX, adding “Permission.io is going even further and defining a whole new category of advertising that we predict will significantly challenge the old industry model while taking ad revenue away from well-known behemoths such as Google, Facebook, and Baidu and distributing that value back to the consumer.”

Permission.io, as the name suggests, flips the existing legacy advertising model by starting with the person’s permission first, then engaging them on their terms and rewarding the consumer for their time and purchases that come as a result of opt-in advertising. Permission’s blockchain and cryptocurrency ‘ASK token’ enable you to own, control and profit from your own data, a simple idea that is technologically complex for the advertising and e-commerce industries, which is now being solved for by Permission.io.

Charlie Silver, CEO and Founder of Permission.io commented, “Permission is excited to bring the world an advertising platform that enables individuals to earn from their time and data, and that builds trusted relationships between brands and consumers. Advertisers, ad agencies and individuals will all benefit from a model where value is distributed more equally along the buying journey and away from big tech’s centralization and exploitation of consumer data.”

The ad industry’s foremost research and standards organization, IAB (Interactive Advertising Bureau) refers to this new model, which sits at the heart of the benefits that blockchain can provide, as “a win for consumers and brands alike.”

Permission.io has spent the last number of years building the backbone infrastructure to allow advertisers to connect with e-commerce shoppers and reward them for their time and purchases on the Permission platform; and is a deep technology company with extensive intellectual property, including nine database-optimization patents from the United States Patent and Trademark Office.

The company has raised $48 million in capital to date, predominantly from high-net-worth individuals and from blockchain investors, including Richard Li, General Partner at Alphablock. The Permission platform has been in beta for over six months and already has nearly 300,000 registered ASK wallets.

Omer Ozden Bio: Mr. Omer Ozden is CEO and Founder of RockTree LEX, a legal and finance professional service platform focused on the blockchain industry. Mr. Ozden is also co-founder and International Expansion Partner of UCommune, China’s largest co-working company with over 200 locations globally, Partner of DGroup, and its investment arm, DFund, one of the most active Blockchain cryptofunds in Asia, currently invested in over 70 blockchain projects, as well as International Partner of ZhenFund, China’s top Angel investment fund. Mr. Ozden is an international securities lawyer and former Partner with Baker & McKenzie LLP in New York and associate with Morrison & Foerster LLP in Hong Kong. His career spans over 450 transactions totaling over $30 Billion and includes venture capital investments, initial public offerings and other transactions for such companies as NetEase, Alibaba, Baidu, New Oriental and Facebook. Mr. Ozden was on the legal team that invented the Variable Interest Entity (VIE) structure, which opened up China’s internet industry to foreign investment and overseas public listings.

About RockTree LEX: RockTree LEX Limited (“LEX”) is a global blockchain professional services platform. LEX provides cutting-edge legal compliance, overseas investment, and listing execution on a global scale. The LEX team in Beijing, New York and Toronto includes a full team of multijurisdictional lawyers and finance experts speaking Chinese and English who provide a truly international solution in a rapidly evolving blockchain industry and a regulatory framework that is cross-border at its core. The LEX team has collectively executed over 120 public security offerings and initial coin offerings (ICOs) and hundreds of private securities offerings in 18 countries across a broad range of sectors. LEX’s investment partners are Huobi (one of the largest global cryptocurrency exchanges), ZhenFund (the leading early stage fund in China), and DGroup/DFund (one of the most active blockchain and cryptocurrency funds in Asia). To learn more, please visit www.rocktreelex.io

Charles Silver Bio: Mr. Silver has been building companies and creating liquidity events for shareholders for nearly 30 years. In the dot com era, he founded RealAge, a pioneer in using data and email marketing to connect consumers with branded content. The company was very successfully sold to the Hearst Corporation. Prior to RealAge, Mr. Silver founded and built the Oil Dispatch franchise in Michigan. It grew to be the largest independent quick-oil-change operator in the state and was successfully sold to Jiffy Lube. In addition to founding Permission, Mr. Silver is co-founder of LoveStoriesTV, a leading wedding-video platform, and is also co-founder and serves on the board of Reality Shares (dba Blockforce Capital), an SEC registered investment adviser with five publicly traded ETFs, including the first blockchain ETF (BLCN).

About Permission.io: Permission.io is leading the web toward a new engagement model built on opt-in value exchange. With the creation of the permission blockchain and cryptocurrency (ASK), Permission has developed a digital advertising protocol that enables individuals to own, grant permission, and monetize their time and data while engaging with the web as they normally do. The company’s mission is to provide opportunities for members to earn from their data in multiple contexts and to connect brands and consumers on a permission basis. To learn more, please visit: https://permission.io/.