LTC, BSV, XRP, BNB and ATOM 9696

cryptocurrencies

For the past few days, cryptocurrencies have managed to hold onto a large part of their gains. This is a positive sign, as it shows that the bulls are not in a hurry to book profits. It is also comforting to see that the gains have come on the back of increasing volumes. Bitcoin’s (BTC) trading volume on Coinbase recently hit its highest level since Feb. 4 of last year, which shows that the price is rising higher backed by strong demand.

However, the positive sentiment supported by improving fundamentals has led to a number of analysts projecting a vertical rally in bitcoin, similar to the one seen in 2017. Some of the targets currently talked about are $25,000 and $40,000, both within a short span of time. While anything is possible in the crypto markets, we believe that these calls are a little more aggressive. The current rally is likely to face a number of bumps en route to new highs and will test the patience of the bulls. Therefore, we suggest traders wait for dips to buy instead of chasing the price higher.

ATOM/USD

Cosmos (ATOM) was the best performer among the top 20 major cryptocurrencies in the past seven days. The platform surged to second position on Github with 4,245 events in the past 30 days, ending June 4, which is a positive sign. What does the chart project?

ATOM/USD

Due to a short trading history, we shall use the daily chart for analysis. The ATOM/USD pair has been consolidating roughly between $5.660 and $6.603. Attempts to breakout of this range failed on June 3 and 4, which shows a lack of demand at higher levels. However, the dips to $5.660 were purchased on June 5 and 6, which shows buyers willing to get in at support.

Consolidation near the highs is a positive sign: it is usually followed by a breakout and continuation of the upward move.

A breakout and close (UTC time frame) above $6.603 will resume the uptrend that can carry the price to $7.905. If this level is crossed, the upwards move can extend to $8.794. Our bullish view will be invalidated if the pair plummets below the 20-week EMA, and the next lower support is at $4.8.

LTC/USD

Litecoin (LTC) is the second-best performer of the past seven days. The upcoming halvening is acting as a bullish factor that has kept the price close to its recent highs. Traders anticipate that reduced supply will result in higher prices. The litecoin hashrate has also been making new highs consistently, which is a positive sign. Can the price continue higher or has it hit a hurdle?

LTC/USD

The LTC/USD pair is facing selling at the resistance line of the ascending channel. However, the attempts by the bears to sink it have been unsuccessful. Buyers have been stepping in close to $100 and pushing the price right back up, which is a positive sign.

If the bulls push the price above the resistance line of the ascending channel, the pair will rally to $158.91. This is the target objective following the breakout from the cup and handle pattern. Above this, we anticipate a move to $184.7940, which is likely to act as a stiff resistance.

If, however, the cryptocurrency fails to break out of the channel, the bears will again try to sink it below the breakout level of $91. A breakdown of this and the support line of the channel will indicate a change in trend.

BSV/USD

This is the third successive week that bitcoin sv (BSV) has been among the top five performers. The surge in price following the news about Craig Wright’s filing for copyright claims on the bitcoin white paper has held up quite well. What is in store in the next few weeks? Can the uptrend resume or will it dump? Let us analyze the chart.

BSV/USD

The BSV/USD pair has formed an inside week candlestick pattern and is finding support close to a 38.2% Fibonacci retracement of the recent rally, while it is facing resistance near the high of $254. This points to a consolidation in the next few weeks, and a range formation after such a sharp move is a positive sign. After the boundaries of the range are defined, traders can buy closer to the support and sell near the resistance. Currently, we do not find any reliable pattern that offers a good risk to reward ratio.

The uptrend will weaken if the pair breaks down of $176.083 and drops to $152.015, which is a 50% retracement level of the recent upwards move. If this level also breaks, the trend will turn down. Conversely, a breakout and close (UTC time frame) above $254 will resume the uptrend and launch the cryptocurrency to $307.789 and above it to $340.248.

BNB/USD

The website for the Binance decentralized exchange (DEX) plans to block users in 29 countries from accessing the DEX. The exchange has also released its official Trust Wallet for the Binance DEX users, and also plans to issue its own stablecoin within the next two months, which will be 100% pegged to the British pound and will be called “Binance GBP.” Subsequently, the exchange plans to release stablecoins backed by other currencies, barring the U.S. dollar. In other Binance news, a former executive at Dell and the NBA will join Binance as theIR new official strategy officer. Backed by fundamental news, can binance coin (BNB) extend its upwards move or is the rally tiring out? Let’s analyze.

BNB/USD

In a strong uptrend, the pullbacks are shallow and the price quickly bounces off strong supports because traders jump in to buy on any dip. Backed by momentum, the price quickly rallies to make a new high. The BNB/USD pair has been making a series of new highs after breaking out of the previous high of $26.4732350 in mid-May, which confirms that the pair is in a new uptrend. The first target to watch is $40, followed by a rally to $46.1645899. If the momentum picks up, the upwards move can even extend to $56.0786952.

On the contrary, if the bulls struggle to propel the price above the resistance line, a few weeks of consolidation is possible. The trend will turn negative only after the higher highs and higher lows sequence is violated. Until then, the uptrend remains in force.

XRP/USD

Ripple, the company behind crypto asset XRP, has said that it will take a more conservative approach in reporting XRP sales this quarter. This is being done to allay the fears among institutions and consumers on fake reporting of trading volume in the crypto markets. Thailand’s largest commercial bank, Siam Commercial Bank, has denied that it plans to use Ripple’s XRP token, just days after a tweet that hinted the bank’s plans to do so. Also this week, hackers stole about $10 million worth of XRP from nearly 100 XRP ledger wallets on wallet service GateHub.

XRP/USD

The XRP/USD pair has formed a flag following the rise from the lows. A breakout of the flag will point to a resumption of the up move that can carry the price to $0.66413 and above it to $0.76440.

Conversely, a breakdown of the flag will be a negative sign, as it shows a lack of demand at higher levels. The pair has support at $0.37835 and below it at $0.355660. The 50-week SMA and 20-week EMA are also close to these horizontal supports. Therefore, we expect buyers to defend this zone, failing which, the trend will turn negative. The next couple of weeks are critical as it will set the direction for the next leg of the move.

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

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Dash is launching on Coinbase Pro 23436

Dash

On Monday September 16, 2019, Coinbase Pro will begin accepting inbound transfers of DASH. Coinbase Pro will accept deposits for at least 12 hours prior to enabling full trading. Trading will begin on or after 9AM Pacific Standard Time on Tuesday, September 17, if liquidity conditions are met.

Once sufficient supply of DASH is established on the platform, trading on the DASH/USD, and DASH/BTC order books will start in phases, beginning with post-only mode and proceeding to full trading should our metrics for a healthy market be met. Support for DASH will be immediately available in Coinbase’s supported jurisdictions, with the exception of New York State and the United Kingdom. Additional jurisdictions may be added at a later date.

Created in 2014, Dash is a cryptocurrency optimized for payments that has optional speed and privacy features. At this time, Coinbase will not support these features. Dash is accepted at over 4,000 merchants worldwide. Its unique network architecture consists of both regular miners and privileged machines called Masternodes. Through its off-chain community governance system, anyone can submit and vote on proposals to improve the ecosystem’s functionality, utility, and adoption.

Please note that DASH is not yet available on Coinbase.com or via our consumer mobile apps. We will make a separate announcement if and when this functionality is added.

The Stages of the DASH Launch

There will be four stages to the launch as outlined below. We will follow each of these stages independently for each new order book. If at any point one of the new order books does not meet our assessment for a healthy and orderly market, we may keep the book in one state for a longer period of time or suspend trading as per our Trading Rules.

Coinbase Pro will send tweets from our Coinbase Pro Twitter account as each order book moves through the following phases:

  1. Transfer-only. Starting on Monday September 16, customers will be able to transfer DASH into their Coinbase Pro account. Customers will not yet be able to place orders and no orders will be filled on these order books. Order books will be in transfer-only mode for approximately 12 hours. We will communicate the exact timing for this phase via Twitter closer to the date.
  2. Post-only. In the second stage, customers can post limit orders but there will be no matches (completed orders). Order books will be in post-only mode for a minimum of one minute.
  3. Limit-only. In the third stage, limit orders will start matching but customers are unable to submit market orders. Order books will be in limit-only mode for a minimum of ten minutes.
  4. Full trading. In the final stage, full trading services will be available, including limit, market, and stop orders.

One of the most common requests we receive from customers is to be able to trade more assets on our platform. Per the terms of our listing process, we anticipate supporting more assets that meet our standards over time.

Korea’s Union Mobile Launches ‘ELYNET’ Blockchain Project 24864

Korea

NY Union Mobile, which worked to become the fourth mobile carrier in Korea, has officially announced the launch of their blockchain project ‘ELYNET’. The project is designed to provide differentiated mobile services using blockchain technology while leaving behind regulatory hurdles for approval as a mobile network operator.

As a decentralized telecom project, ELYNET uses blockchain technology to make communication more efficient for users who currently rely on a single carrier for telecom service. Through ELYNET, users can freely use data communication services without the drawbacks of existing wireless carriers such as roaming fees and contracts. The ELYNET project effectively eliminates the need for expensive data centers for wireless communications, allowing users to enjoy superior telecom quality at dramatically lower costs.

The ELYNET team plans to use the application of distributed ledger technology to further expand the user base of parent company Union Mobile. “Most of the members of our project team have built their careers at existing mobile carriers, including LG U+, and we have received support from talented people who have worked at KPMG and Samsung for the design of the token economy”, said Union Mobile’s CEO Seyong Ro. “This will help us to realize our business. When users connect to the communications network through ELYNET’s own operating system, they can purchase data through ELyX, a token used in ELYNET’s ecosystem, and freely enjoy mobile data communication anywhere in the world without roaming fees or contracts.”

Bitmain expands in-demand Antminer 17 series with two new miners; reveals specifications and selling times 24033

 

Bitmain, the world’s top 10 fabless chipmaker, has expanded its in-demand Antminer 17 series of miners with two new models – Antminer S17e and Antminer T17e, – and is announcing specifications as well as selling times ahead of the launch date on 9 September, 2019.

The Antminer S17e and T17e models have been designed to offer the best value for money. The Antminer S17e has a hash rate of 64 TH/s and operates with a power efficiency of 45 J/TH, while the T17e offers a hash rate of 53 TH/s and a power efficiency of 55 J/TH.

Significant improvements to power efficiency and hash rate have been achieved from Bitmain’s comprehensive strength accumulated over the years in the field and relentless technological innovation.

Both new models have been designed for more stable operations in the long-term to reduce maintenance costs for customers. This is made possible through the dual tube heat dissipation technology which improves how efficiently heat dissipates. The models are also equipped with a more secure software system to prevent malicious attacks.

Bitmain also introduces its compensation strategy for delivery delay. If mining machines are not shipped after a certain period of the specified delivery date, Bitmain will compensate customers by coupons for each day of delay, based on PPS rewards of the mining pool (electricity cost deducted).

The Antminer S17e and T17e will be released in three batches and will be available for sale on Bitmain’s official website according to the following timings:

1st Batch:
Selling Time: 
9 September 2019, 19:00 GMT+8
Delivery Time: 1 – 10 November 2019 

2nd Batch:
Selling Time: 
10 September 2019, 19:00 GMT+8
Delivery Time: 11 – 20 November 2019 

3rd Batch:
Selling Time: 
11 September 2019, 19:00 GMT+8
Delivery Time: 21 – 30 November 2019

Altcoins: ETC, IOTA, ADA, TRX and XLM 24771

Altcoins

ETC/USD

Ethereum Classic (ETC) was the best performer of the past seven days by a huge margin. A bulk of its rally can be attributed to the forthcoming Atlantis hard fork, scheduled for next month, which aims to address security concerns of the community. ETC Labs announced that London-based token investment group North Block Capital has joined its Studio program. Both entities will work together to create comprehensive token sale initiatives for North Block Capital investments, clients and partners. The companies will also endeavor to expand to Asian markets. After the sharp rally, can the momentum continue or will profit-booking drag prices down? Let’s analyze its chart.

ETC/USD

After trading in a small range for the past five weeks, the ETC/USD pair made a decisive move this week. It has broken out of both moving averages, which is a positive sign. If bulls can sustain the momentum, a rally to $10 is probable. $10 is likely to act as a stiff resistance because the price had turned down from it on two previous occasions. A breakout of this resistance will start a new uptrend that can carry the price to $15 and above it to $20.

Conversely, if the pair turns down from $10, it might extend its stay inside the wide range. The longer the consolidation, the stronger and more reliable will be the eventual breakout from it. Traders can buy on dips to $6.50 next week and keep a stop loss of $5. If the support at $5 breaks down, the pair can drop to the bottom of the range at $3.40.

IOTA/USD

MIOTA (IOTA) was the second-best performer of the past seven days. EDAG announced that it will showcase its EDAG CityBot multifunctional robotic vehicle, which uses IOTA’s machine-to-machine payments. A new parking app developed by trive.me also utilizes IOTA’s Tangle. Is this a good time to buy?

IOTA/USD

The IOTA/USD pair is trading inside a wide range of $0.244553 and $0.541. One of the reliable strategies to trade a range-bound market is to buy on a rebound from support and sell closer to resistance. The bears attempted to break below $0.244553 last week, but did not find sellers at lower levels. This week, the sharp bounce suggests that buyers are keen to defend the support. Therefore, traders can buy above $0.28 and keep a stop loss of $0.20. The first target objective is $0.38 and above it $0.541.

If bulls fail to build on the bounce, bears will make another attempt to break below the yearly low of $0.207622. It this support cracks, the next target on the downside is $0.14.

ADA/USD

Cardano (ADA) is attempting to make its way back into the top-10 cryptocurrencies by market capitalization. Has it turned positive? Let’s analyze its chart.

ADA/USD

After failing to scale above the overhead resistance zone of $0.10–$0.11151 in late June, the ADA/USD pair has corrected close to the support at $0.035778. If this support breaks down, a retest of the yearly low at $0.0282710 is possible. With the price trading below both moving averages, the advantage is with he bears.

Still, as the price is close to the support of the range, traders can attempt to buy on a strong bounce off $0.035778. The stop loss can be kept below the yearly low of $0.028. There is a minor resistance at $0.0580828 and above it at the moving averages. A breakout of moving averages can propel the price to $0.10.

Our bullish view will be negated if the price turns down from the moving averages and plunges below the yearly low.

TRX/USD

The number of Tron (TRX) DApps has continued to rise, reaching 561, according to DAppReview. Both transaction time and transaction volume also increased by 30% over the previous week. Is the cryptocurrency ready for a reversal? Let’s find out.

TRX/USD

The failure of bulls to propel the TRX/USD pair above the overhead resistance of $0.04 in late June attracted sharp selling. Though the price has broken below the strong support at $0.01774, the bears have not been able to capitalize on the breakdown. This shows a lack of sellers at lower levels. The pair is currently finding support near $0.016. However, as long as the price remains below the downtrend line, there is a risk of a fall to the yearly low at $0.01124.

Conversely, a breakout and close (UTC time) above the downtrend line on a weekly basis will be the first signal that buyers are back in action. The recovery will face resistance at the moving averages and above it at $0.03. As the rebound from the support is weak, we suggest traders wait for the price to break out and sustain above the downtrend line before attempting long positions.

XLM/USD

Stellar (XLM) rounded up the top five with a flat performance in the past seven days. Can it build on its gains or will it decline again? Let’s analyze its chart.

XLM/USD

The XLM/USD pair has been making new yearly lows in the past two weeks. This shows that the trend is down. Both moving averages are sloping down and the RSI is in the negative zone, which suggests that bears have the upper hand. However, the downtrend has not picked up momentum after breaking down of the strong support at $0.072545. This shows that investors do not want to part with their holdings at these levels.

Nevertheless, the absence of a strong bounce indicates a lack of urgency among bulls to buy at the current levels. Though there might be a short-term bounce, investors should avoid it. We will wait for the price to sustain above $0.072545 for more than a week before proposing a trade in it.

Market data is provided by the HitBTC exchange.

Use dapps on any desktop browser with Coinbase Wallet’s WalletLink 24018

Coinbase Wallet

Coinbase Wallet users can use their favorite decentralized apps (dapps) on any desktop browser with Coinbase Wallet’s WalletLink. WalletLink acts as a secure bridge between your Coinbase Wallet app and your desktop browser. To get started, all you have to do is scan a WalletLink QR code with your Wallet app. You can then use dapps anywhere, while keeping your funds safe and secure on your mobile Wallet app.

Taking the dapp out of the dapp browser

Since we launched Coinbase Wallet, hundreds of thousands of users have explored the new decentralized web through Wallet’s mobile dapp browser. People tell us they love the best-in-class Coinbase Wallet experience–biometric authentication to keep funds secure; encrypted key backups; support for a variety of coins and collectibles; access to the latest dapps–all wrapped up in a beautiful user experience.

But to date, the Coinbase Wallet experience has been limited to mobile devices. Users on desktop web browsers have had to resort to installing clunky browser extensions, copying and pasting private keys across devices, and seeing fragmented wallet balances. Now, WalletLink enables a simpler way to use dapps.

To try WalletLink, make sure you’ve updated to the latest version of Coinbase Wallet (version 19.1 on iOS and 18.0 on Android). Now visit any of the dapps that have integrated with WalletLink (listed below, with more on the way) and click the option to connect your Coinbase Wallet. Next, scan the QR code with your Coinbase Wallet QR scanner. This creates a secure encrypted link between the Wallet app and your browser. Finally, approve access to the DApp and you’re all set! Now, whenever you submit a transaction, you’ll get a ping on your phone for you to approve the transaction.

WalletLink also supports persistent connections to multiple dapps, so you don’t have to scan a QR code each time you want to use a new dapp.

WalletLink has been tested with Google Chrome, Mozilla Firefox, Microsoft Edge, Brave, and Opera browsers. We plan to roll out support for native mobile apps and more currencies in the future.

Top dapps support WalletLink, with more coming soon

As part of today’s announcement, some of the most popular crypto dapps in the ecosystem are launching support for WalletLink, including:

  • Compound — On-chain borrowing and lending platform
  • dYdX — Margin trading, borrowing, and lending
  • IDEX — Decentralized exchange
  • Maker — Stablecoin and decentralized reserve bank

WalletLink support is also coming soon to Uniswap and more of the most popular dapps.

If you want to know if your favorite DApp supports WalletLink, look for the option to connect your Coinbase Wallet. If you are a DApp developer, WalletLink takes just 5 minutes to integrate and does not require you to deploy any additional infrastructure.

Open-sourcing WalletLink

We see WalletLink as a critical way to expand access to dapps, which is why we want this experience to be available to everyone in the crypto community. To make that possible, we’re open sourcing WalletLink today and making it available for any dapp developer and any wallet that wants to integrate it into their product.

Look out for a blog post on the technical side of WalletLink, explaining how it works and why we decided to open source it.

WhatsApp in Talks to Launch Crypto Mobile Payments in Indonesia 22987

Indonesia

Facebook Inc’s messaging service WhatsApp is in talks with multiple Indonesian digital payment firms to offer their mobile transaction services, in a bid to tap the nation’s fast growing e-commerce sector, people familiar with the matter said. Indonesia could become the second country worldwide where WhatsApp introduces such services, as it awaits regulatory approval from India, its biggest market by users, that has been delayed due to local data storage rules.

But unlike in India where it plans to offer direct peer-to-peer payment services, WhatsApp will simply serve as a platform in Indonesia supporting payments via local digital wallets due to tough licensing regulations, the sources told Reuters.

The Indonesia model could become a template for Whatsapp to adopt in other emerging markets to get around regulations on foreign players creating their own digital wallets, the sources said.

Indonesia, home to 260 million people and Southeast Asia’s largest economy, is one of the top-five markets globally for Whatsapp, with over 100 million users.

The nation is set to see its e-commerce industry tripling to $100 billion by 2025, according to some estimates, but it also has some of the region’s strictest digital payments regulations.

WhatsApp is in advanced talks with several digital payments firms including ride hailer Go-Jek, mobile payments firm DANA, backed by China’s Ant Financial, and fintech startup OVO, which is owned by Indonesian conglomerate Lippo Group and is also backed by ride hailing company Grab, the sources said.

Deals with the three firms are expected to be finalised shortly, the people said, declining to be named as the talks are private.

WhatsApp has also approached state-owned Bank Mandiri (BMRI.JK), which operates a digital wallet, they said.

The Indonesia plan comes after Facebook CEO Mark Zuckerberg announced earlier this year that it would be rolling out WhatsApp payments to “some countries”.

“As Mark has said earlier this year… we are looking to bring digital payments to more countries,” a Facebook spokeswoman told Reuters.

“WhatsApp is in conversations with financial partners in Indonesia about payments, however the discussions are in early stages and we do not have anything further to share at this stage.”

Go-Jek declined to comment. DANA, OVO and Bank Mandiri did not immediately respond to requests for comments.

A spokeswoman for the Mandiri-backed e-wallet LinkAja said she could not confirm any talks with WhatsApp.