Category: Crypto News

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Cardano Crypto News Market Analysis Ripple Trading TRON

Altcoins Trading Analysis – 3 Coins that Might Breakout Today: XRP, ADA, TRX

Trading analysis

For today’s trading news, we’re looking at are three altcoins that might breakout showing bullish trends in the charts.

1. Ripple (XRP)

Ripple is a real-time gross settlement system, currency exchange, and remittance network created by Ripple Labs Inc., a US-based technology company.

XRP Price Analysis

At the time of writing, XRP is ranked 3rd cryptocurrency globally and the current price is $0.8109 AUD. Let’s take a look at the chart below for price analysis.

Source: TradingView

If we see the above 1-hour candle chart, we are moving in a symmetrical triangle, just tested the lower support line of this triangle, and we can expect the movement to the upper resistance line.
if we breakout from this triangle, XRP might start a new bullish trend.

“A symmetrical triangle is a chart pattern characterized by two converging trend lines connecting a series of sequential peaks and troughs. Trend lines that are converging at unequal slopes are referred to as a rising wedge, falling wedge, ascending triangle, or descending triangle.”

2. Cardano (ADA)

Cardano is a proof-of-stake blockchain platform that says its goal is to allow “changemakers, innovators and visionaries” to bring about positive global change.

ADA Price Analysis

At the time of writing, ADA is ranked 8th cryptocurrency globally and the current price is $0.2093 AUD. Let’s take a look at the chart below for price analysis.

Source: TradingView

If we see the above 1-hour candle chart, Cardano ADA is forming an ABCD pattern in a Triangle Formation by making higher-highs & higher-lows in the price levels. If ADA bounces back from the E point of a Triangle Formation, It can start its new bullish trend after breaking the next resistances.

“The ABCD pattern is an easy-to-identify chart pattern that consists of two equivalent price legs. It is a harmonic pattern that helps traders predict when the price of a stock is about to change direction. The pattern can be used to predict either a bullish or bearish reversal depending on the orientation.”

3. Tron (TRX)

TRON is a blockchain-based operating system that aims to ensure this technology is suitable for daily use. Whereas Bitcoin can handle up to six transactions per second, and Ethereum up to 25, TRON claims that its network has capacity for 2,000 TPS — 24/7.

TRX Price Analysis

At the time of writing, TRX is ranked 18th cryptocurrency globally and the current price is $0.0408 AUD. Let’s take a look at the chart below for price analysis.

Source: TradingView

November brought an impressive 70% rally in TRX’s price before it encountered resistance below September’s swing high, near $0.0539 AUD.

Last week’s sweep of old highs could lead to a retest of support near the November monthly open, where equal lows make an appealing short-term target for bears. 

If we see the above 4-hour candle chart, TRX is squeezing inside the symmetrical triangle and is now charging up for the strong breakout, if TRX bounces back from the support like then it might pump with a breakout.

Where to Buy or Trade Altcoins?

These 3 Altcoins have the highest liquidity on Binance Exchange so that would help for trading USDT or BTC pairs. However, if you’re just looking at buying some quick and hodling then Swyftx Exchange is a popular choice in Australia.

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Crypto News

Ethereum 2.0 Staking Redistributes ETH Held by Top Whale Addresses

Bullish? All Centralized Exchange Ether (ETH) Reserve Have Dropped to New Low

There has been a notable level of shake-off for the ten largest whale addresses holding Ether (ETH) over the past 30 days. According to the information shared by Santiment, a crypto analytics platform, the number of Ethereum coins held in these addresses has dropped significantly, although this is not reflected in the cryptocurrency’s price. One plausible reason for the decline is the Ethereum 2.0 staking.

Per Santiment, the total number of Ether held in the ten largest addresses dropped from 16.4 percent to 4.5 percent within a period of one month. Despite this massive drop, the cryptocurrency is still up by over 61.4 percent, trading at US$590 at the time of writing. This is probably because new addresses were also being created at the time, thereby causing ETH redistribution from the top addresses to the new ones – not a sell-off.

Ethereum Whale Addresses are Staking ETH

The creation of these new addresses also led up to the speculation that Ethereum 2.0 staking is a major factor causing ETH supply redistribution from the top addresses. Alex Saunders, the founder of Nugget’s News, explained this on Twitter, saying that the Ethereum 2.0 deposit contract required the network users to move the coins to a new address for the beacon chain & staking.

Backing this up is the fact that the deposit contract was actually launched last month, which is the same time the coins began leaving the whale addresses. So, more coins leaving the addresses to Eth2 staking is definitely not a thing to worry about as the crypto’s price is more likely to benefit more.

The Beacon Chain went live on December 1 with Phase 0, as Ethereum developers had estimated. This particular phase would act as the backbone for other functions to be released in the completion of the network.

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Crypto News

OCC’s Chief Assures the US Isn’t Going to Ban Bitcoin

Bitcoin Fear and Greed Index Clicks 94: Is Bitcoin due for Correction?

Brian Brooks, the acting Comptroller of the Currency at OCC, has brought clarity to the recent rumor that the present United States government is preparing to introduce regulation that will implement know-you-customer (KYC) measures for self-hosted digital currency wallets. According to him, the government won’t ban Bitcoin in the country. Instead, they are making an effort not to destroy the digital currency. 

US Will Champion Bitcoin

The founder of Coinbase, Brian Armstrong, recently informed crypto Twitter that the Trump Administration was planning to introduce regulation for self-hosted crypto wallets, according to the rumor. The said regulation was viewed as a threat to the cryptocurrency industry, especially in the US, as users must have to validate their information before even making a transaction. However, Brooks cleared the rumor while speaking at the CNBC Squawk Box today, saying that such a thing isn’t going to happen.

The OCC chief operating officer added:

“We’re very focused on getting this right. We are very focused on not killing this, and it is equally important that we develop the networks behind bitcoin and other cryptos as it is we prevent money laundering and terrorism financing.”

Brooks further noted that there would be lots of good news for the cryptocurrency industry by the end of Trump’s administration. “There are gonna be very positive messages coming up,” he said. This is unarguably one good development to wrap the week. It sparked positivity among many Bitcoiners and popular industry participants.

Bitcoin Still on the Rise

The leading cryptocurrency has grown tremendously in price since September, making a new all-time high at over US$19,000. The current price of Bitcoin is slightly below the ATH at US$19,004 on Coinmarkecap. Many Bitcoiners are hoping for a US$20,000-priced Bitcoin as several activities on the crypto have been increasing, including the searches on Google. A glance at Google Trends shows that Bitcoin searches surged to a 32-month high globally. 

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Crypto News Market Analysis Trading

BotXcoin Breakout Analysis – BOTX Pumps +64% in a Single Day with Strong Bullish Trend

Breakout Analysis

BotXcoin is flipping on a 1-day candle chart, BOTX has grown by a massive +64% in a single day. Let’s take a quick look at BOTX, price analysis, and possible reasons for the recent breakout.

What is BotXcoin?

BotXcoin is a future token for financial freedom that provide a functional token for using our profitable trading robot in all cryptocurrency exchange all over the world. The goal of this project is to utilize a trading robot BOTX App and build a multi-cryptocurrency trading exchange BOTXPRO.

BotXcoin Quick Stats

SYMBOL:BOTX
Global rank:217
Market cap:$340,603,325 AUD
Current price:$0.2085 AUD
All time high price:$0.2569 AUD
1 day:+64.31%
7 day:+17.95%
1 year:+566.36%

BotXcoin Price Analysis

At the time of writing, BOTX is ranked 217th cryptocurrency globally and the current price is $0.2085 AUD. This is a +64.31% increase in a single day as shown in the chart below.

Source: Coinpaprika TradingView

In the past week, there was a strong rise in Bitcoin, Ethereum, and Ripple. As a result, BotXcoin also formed strong support near $0.1242 AUD price levels before starting a strong bullish trend.

Here we also have the “W” pattern with a higher low just as looking at it before starting a strong increase, there was a break above a crucial contracting triangle with resistance near $0.1552 on the daily chart of the BOTX/AUD. The pair gained pace above the $0.1742 and $0.1865 resistance levels.

“W pattern is a price pattern, also called Double Bottom. This pattern, when drawn it looks like the W and this is why it is called as W pattern. Sometimes patterns look like W but it is not the exact W pattern and these patterns are called Semi-W patterns.”

What do the technical indicators say?

The BotXcoin TradingView indicators (on the 1 day) mainly indicate BOTX as a buy, except the Moving Averages which indicate BOTX as a strong buy.

So Why did BOTX Breakout?

The recent rise in Bitcoin over 100% since the halving in May and then the suggested start of the Altcoin season could have contributed to the recent breakout. It could also be contributed to some of the recent events where the BotXcoin will be listed in Coinlim.

Recent BotXcoin News & Events:

Where to Buy or Trade BotXcoin?

Currently BOTX coin is mostly available to buy on P2PB2B exchange which is a cryptocurrency exchange operating out of the United Kingdom.

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Crypto News Regulation Stablecoins Tether

Is the New STABLE Act Really a Threat to Crypto?

US Congress

On December 2, 2020, three members of the US House of Representatives, Michigan Democrat Rashida Tlaib along with Congressmen Jesus García and Stephen Lynch, introduced a new stablecoin regulation bill dubbed the Stablecoin Tethering and Bank Licensing Enforcement (STABLE) Act. 

The rather conveniently titled STABLE act proposes some strict restrictions on the issuance of digital versions of the US dollar. Essentially, it requires that any US-based company like Facebook that wishes to issue a stablecoin backed by the US dollar must become a bank. Should the act be passed into law, private US-backed stablecoin operators like Tether (USDT), USD Coin (USDC), and Paxos Standard (PAX) will be required by law to obtain not only a banking charter but also approval from the Federal Reserve, the Federal Deposit Insurance Corporation (FDIC), and financial regulators.

Now, all this makes some sense – the US can’t have every Tom, Dick, and Harry handing out digital tokens like sweets and claiming they’re backed by “safe and reliable” dollar bills. Tether has been doing this for quite a while now and has racked up a rather sizable amount of supposedly government-backed USDT tokens to the tune of almost $20 billion. Even though that number is equivalent to only 0.08%  0.07%  0.06% of the total US national debt, it’s still a fairly large sum. 

US Congress is understandably concerned that should such a large company default on its liabilities, there would be more than a few extremely unhappy customers. So, to avoid a crypto version of the 2008 financial crisis, regulations like the STABLE Act are allegedly here to ensure that the ever trustworthy Federal Reserve keeps a close eye on your money. 

So how is this a threat to crypto?

The proposal of the act has sent ripples through the crypto community, some of whom fear the stifling regulations could limit market activity or even turn node operators into criminals. Others feel it would hinder the development of blockchain and cryptocurrency technology just at a time when it’s getting started. Jeremy Allaire, CEO of Circle, the company that issues USDC, had this to say:

“The STABLE Act would represent a huge step backwards for digital currency innovation in the United States, limiting the accelerating progress of both the blockchain and fintech industry.”

While their concerns are valid and the regulations could be disruptive, some form of insurance for crypto consumers does seem pertinent. Regulations in the form of STABLE may be overbearing but there are areas of the crypto sector that could do with better oversight. One can’t help but question why Tether remains resistant to an audit that would confirm the dollar-backed status of its reserves. It doesn’t help that its parent company, iFinex Inc, is embroiled in an ongoing lawsuit with the New York Justice Department regarding the cover-up of $850 million in lost co-mingled client funds.

Amy Castor suggests Bitcoin’s rise is akin to magic. Source: amycastor.com

If you believe, as some do, that USDT tokens are not fully backed by anything tangible, then the implications of the STABLE act could be far-reaching. If for whatever reason, Tether was unable to keep operating and was not able to honour all the USDT tokens in circulation, the crypto market would certainly take a knock. With Tether headquartered in Hong Kong, it’s uncertain how the regulations may affect the company.

At the end of the day, whether the STABLE Act truly poses a threat or not, it further highlights a pressing need for greater decentralization in the crypto community. Ideally, an ecosystem that doesn’t rely on favourable government regulations and outdated fiat on-ramps but rather an evenly distributed, community-led system secured by code.

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Crypto News Market Analysis Trading

KEEP3RV1 Breakout Analysis – Parabolic Breakout on KP3R with +74% Gains in a Single Day

Breakout Analysis

Keep3rv1 just pumped up to +74% in a single day with a strong breakout on Binance & other Exchanges. Let’s take a quick look at KP3R, price analysis, and possible reasons for the recent breakout.

What is KP3R?

Keep3rV1 is a decentralized platform designed to facilitate the coordination between projects that need to source outside development operations and those who can provide those required services. Essentially, the project serves as a job board that facilitates the interaction between job posters, such as decentralized finance protocols, and job executors, known as Keepers.

KEEP3RV1 Quick Stats

SYMBOL:KP3R
Global rank:122
Market cap:$106,480,841 AUD
Current price:$529.18 AUD
All time high price:$586.24 AUD
1 day:+74.41%
7 day:+81.70%
1 year:+82.74%

KP3R Price Analysis

At the time of writing, KP3R is ranked 122nd cryptocurrency globally and the current price is $529.18 AUD. This is a +81% increase since 27 November 2020 (7 days ago) as shown in the chart below.

Source: TradingView

If we see the above 1-day candle chart, KP3R was trading inside the rising wedge pattern at $390.14 AUD price levels. KP3R just did an awesome breakout by breaking all the major resistances in a single day and is now currently trading at $529.18 AUD.

“A rising wedge is a technical indicator, suggesting a reversal pattern frequently seen in bear markets. This pattern shows up in charts when the price moves upward with pivot highs and lows converging toward a single point known as the apex.”

Source: TradingView

What do the technical indicators say?

The KEEP3RV1 TradingView indicators (on the 1 day) mainly indicate KP3R as a strong buy, except the Moving Averages which indicate KP3R as a buy.

So Why did KP3R breakout?

The recent rise in Bitcoin over 100% since the halving in May and then the suggested start of the Altcoin season could have contributed to the recent breakout in KP3R. Another big reason could be the whales secretly buying this coin for their portfolio which might give them huge profits in the next Altcoins rally. It could also be contributed to some of the recent events & news of Scaling Keep3r with Chainlink.

Recent KP3R News & Events:

Where to Buy or Trade KP3R?

KEEP3RV1 has the highest liquidity on Binance Exchange so that would help for trading KP3R/USDT or KP3R/BTC pairs. However, if you’re just looking at buying some quick and hodling then Swyftx Exchange is a popular choice in Australia.

Categories
Australia Blockchain Crypto News Investing

Linqto Announces Speakers For The Global Investment Conference 2020

Taking place on the 8th and the 9th of December, the conference will have a line-up of 48 speakers from all corners of various investment markets.

Linqto is one of the top digital trading platforms for private market securities The upcoming conference will aim to look over the way the world has changed in the past year – and how to change things for the better in 2021, whether by using new investment strategies, digging in for a possible future bull run and much more.

Australian Speakers And Hosts

Australia will be represented at the GIC taking place next week by the CEO of BTC Markets and the founder of Sapien Ventures.

BTC Markets is one of the largest cryptocurrency exchanges in Australia, and its CEO – Caroline Bower – will be present for a discussion with Steve Vallas about the importance of blockchain technology and its impact on multiple sectors worldwide.

Steve Vallas is the CEO of Blockchain Australia, an advocacy group working with both the public and private Australian sectors in order to further the development and adoption of blockchain technology.

The conference will be hosted by Victor Jiang and Karim Nurani. Karim Nurani –The Chief Strategy Officer at Linqto – has been a part of over 100 successful start-up ventures and is here to tell the story.

Victor Jiang is the executive chairman of Sapien Ventures, a firm specializing in venture capital operating out of Sydney, Melbourne, and Shanghai. With a large portfolio of companies under its wing and a range of options for potential investors, Sapien Ventures is a true heavy hitter in the investment market.

The Global Investment Conference can be joined free of charge via a zoom link that will be provided to you upon sign-up.

Categories
Crypto News Cryptocurrencies DeFi Ethereum

Visa Partners With Circle to Connect Its 60M Merchants With Ethereum-based US Dollar Coins

Visa is taking a step further from traditional payments and jumping in on two major cryptocurrency projects. The first one is the recent announcement of the integration of the US Dollar Coin, an Ethereum-based stablecoin created by Circle Internet Financial, into Visa’s fintech FastTrack Program.

Visa will work with Circle to integrate the Ethereum protocol to its customers — by issuing cards for USDC payments. Now more than 60M merchants can send and receive USDC whenever they want. Visa won’t take custody of the digital currency.

Visa integrates the Ethereum-based USDC as ETH upgrades to Eth2, making it a more efficient and faster blockchain protocol. The company believes that its 60M base customers can benefit greatly from this new upgrade. Now traders are hoping for a major bullish uptrend for the next week.

No More Cash Or Miles: It’s Bitcoin now

The second project is with BlockFi, a New York-based startup that specializes in cryptocurrency-backed loans and savings accounts. Visa is launching in early 2021 a credit card that rewards its users with Bitcoin — instead of traditional money or miles.

The new card is issued by Evolve Bank & Trust and has an annual fee of $200.

“We’re excited to add credit cards to our suite of products and expand Bitcoin’s accessibility to a broader set of consumers. This card makes it simple and risk-free for people to gain or increase exposure to a new asset class without changing their spending or investing habits.”

Zac Prince, CEO of BlockFi said in a statement.

Visa currently has 25 cryptocurrency wallets integrated into its system. And as Bitcoin and cryptocurrencies are becoming wildly popular every day, Visa expects to serve the cryptomarket customers with these two projects — by enhancing new payment methods and providing crypto-rewards.

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Crypto News

Ether Capital, a Publicly-traded Firm is Running an Ethereum 2.0 Validator Node

Ether Capital, a Publicly-traded Firm is Running an Ethereum 2.0 Validator Node

Following the successful launch of the Ethereum 2.0 Beacon Chain on Tuesday, a publicly-traded company, Ether Capital, announced today that it has become a validator for the new Proof-of-Stake (PoS) network. As usual, the development follows the company’s 32 ETH staking on the network. It further plans to stake more Ethereum coins as Eth2 stably develops with time.

Ether Capital is arguably the first-ever publicly-traded company to be running an Ethereum 2.0 validation node. 

Ethereum initiate first move to PoS 

The road to Ethereum 2.0 began with the deployment of the Eth2 Phase 0 on December 1, at exactly 7:00 am ET. The development numbers the days of Ethereum miners, as the PoS network would grant ETH holders the opportunity to validate transactions on the blockchain and also participate in consensus whenever they staked at least 32 ETH on the network. By doing so, ETH holders stand to gain inflationary block rewards.

The CEO of Ether Capital, Brian Mosoff, commented on the development, saying:

“The launch of Ethereum 2.0 is an exciting and historic milestone in the digital asset space, and we are thrilled to be part of it by running a validator. The transition to staking has been part of Ether Capital’s roadmap since inception and means that Ether holders are now able to generate an Ether-denominated return, or yield, by participating in-network validation.”

More to come for Eth2

Notably, Ethereum 2.0 looks so promising, and many individuals and companies are actively betting on the future progress of the network via their active participation in staking. As per Eth2 Launchpad, there is currently 971,618 ETH already staked on the network and still counting. In today’s ETH price of around US$588, the staked coins are worth US$571,311,384. 

Ether Capital further noted that it would stake more Ethereum coins on the network if it continues to function stably. Mosoff precisely said:

“Once we see the Ethereum 2.0 blockchain running in a stable fashion over a period of time and are able to fully understand and mitigate applicable risks, Ether Capital intends to make a more substantial commitment of its Ether balance to staking.”

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Crypto News

PayPal CEO Believes Digital Currencies are on Track for Mainstream Adoption

PayPal CEO Believes Digital Currencies are on Track for Mainstream Adoption

Dan Schulman, the CEO of PayPal Holdings Inc., is optimistic that digital currencies will gain more traction in the coming years, as more people are switching to digital payment methods for transactions. Probably, this could be one of the reasons behind the company’s move into the cryptocurrency space. Interestingly, PayPal users have been showing massive interest in cryptocurrency services, especially Bitcoin (BTC).

World’s Digital First Approach Will Favour Cryptos

Schulman made his thoughts known on Wednesday during a Web Summit conference. He explained that the “entire world is going to come into digital first.” Many shops and merchants are increasingly changing to using smartphones, QR codes, etc., to receive payments from buyers. Even customers are beginning to use digital wallet services, all of which naturally “complements to digital currencies,” Schulman said.

PayPal first announced plans to debut buying and selling services for popularly-traded digital currencies such as Bitcoin, Ethereum, Litecoin, and Bitcoin Cash. A few weeks later, the services were debuted for the United States customers, which was considered a milestone for the Bitcoin market. Many people had speculated that the development triggered the bullish runs in the market since September.

Already, the digital payment platform has been recording increased demand for Bitcoin since the service rolled out. Last week, Crypto New Australia reported that PayPal and Cash App bought more than 100 percent of newly-mined Bitcoin. As a confirmation of the growing demand for Bitcoin on PayPal, a recent survey conducted by Mizuho Securities found out that one-fifth of the company’s users have already traded Bitcoin.

For context, PayPal reportedly has about 350 million users on its platform.

Who is PayPal’s Biggest Competitor?

PayPal’s CEO said Ant Financial is their biggest competitor in the market. The company accounts for the highest mobile-payments in China. Schulman said that Ant Financial holds a strong reputation and success in the country. They also provide a comprehensive digital wallet to the Chinese users, which features “all elements of financial services, all elements of shopping.”