In brief:

Yesterday, the popular smart contract platform of Ethereum turned five years old. At the time, ETH was trading comfortably at levels around $330. However, Ethereum has since added another $17 to its value and experiencing a 2020 high of $347.

The bullishness of Ethereum (ETH) in the crypto markets has been attributed to the DeFi boom as well as investors anticipating the release of ETH2.0 by the end of this year. Additionally, Bitcoin is in clear bullish territory as the King of Crypto sets its eyes on $12,000 in the days to come.

As earlier mentioned Ethereum has just printed a 2020 high of $347 after bulldozing past its February 2020 high of $320. The latter level was also a strong resistance zone. By breaking this level, Ethereum is primed to experience more gains in the crypto markets as shall be elaborated using the daily ETH/USDT chart courtesy of Tradingview.

From the above ETH/USDT chart, the following can be observed.

Summing it up, Ethereum is clearly in bullish territory after bulldozing past the $250, $290 and $320 resistance levels. At its current value of $342, Ethereum is primed to retest the 2019 high of $365 in the days to come.

Furthermore, with a bullish Bitcoin, Ethereum could continue moving on up as its fate is closely tied to that of BTC. However, in the short term, Ethereum could experience a pullback back to $320levels as indicated by its high daily MFI value of 98.

As with all analyses of Ethereum, investors and traders are advised to use stop losses and low leverage when trading ETH.

View original post here:

Ethereum's Bullish Climb Could See ETH Retest the 2019 High of $365 - Ethereum World News

According to Skew analysis, Ethereum (ETH) Open Interest has reached the all-time high.

That may be connected with the reaching of the leading altcoins the new peaks. At the moment, Ethereum (ETH) is trading around the vital $400 mark.

In terms of the technical analysis, the situation is the following one.

ETH/USD quotes on the daily chart broke through all the nearest resistance levels, which can act as strong support in case of a return to them. The values of the RSI indicator were also able to overcome the downtrend line.

A price correction to the $355 level will provoke a return of the indicator values to this line, which can push the asset price to new tops. In case of a breakdown of the $430 level, it is worth considering continued aggressive growth further to the $515 level.

Cancellation of the described option may be the exit from the support area with the price-fixing below the $355 level, which will confirm the breakdown of the lower boundary of the ascending channel and the continuation of the decline to the $290 level.

On small time frames, quotes rise within the ascending channel. Here, too, the Triangle pattern is formed, which, as a rule, breaks out in the direction of the trend. A rebound from the trend line on the RSI indicator also speaks in favour of a further rise in prices.

Confirmation of the idea with the continuation of the bullish impulse will be the breakdown of the upper border of the Triangle model with the consolidation of quotations above the $405 level. The immediate target of growth is the $420 level, overcoming which will indicate an acceleration of the rise to the $460 level.

Cancellation of the proposed scenario may be a breakdown of the lower boundary of the model with the price-fixing below the level of $360, which will cause the quotes to move beyond the boundaries of the ascending channel and decrease them to the level of $300.

Ethereum is trading at $395.84 at press time.

Original post:

Ethereum (ETH) Futures Open Interest Reaches the All-time High... - TheTradable

WEI Art Collections Unveils Art Collection Commemorating Bitcoin and Ethereum

WEI Art Collections Unveils Art Collection Commemorating Bitcoin and Ethereum

DUBAI, United Arab Emirates, Aug. 06, 2020 (GLOBE NEWSWIRE) -- WEI Art Collections(https://weiartcollections.art) has stayed true to the meaning of their name with a new art collection. WEI means extraordinary and WEI Art Collections is again set to excite the creative industry with their latest multi-million-dollar contemporary private art collection to celebrate blockchain technology. The new series is an unprecedented fusion of crypto-currency and art.

WEI Art Collectionshas carved a niche for creating the finest, most extraordinary abstract, contemporary, and crypto art. With a team of talented and well-respected artists from different parts of the world, representing numerous cultural, ethnic, and racially diverse creative talent, the platform has provided art collectors as well as corporate and technology leaders with an opportunity to acquire exclusive works of art from the WEI Art Collections series.

The WEI Art Collections Innovation Series are specifically put together for crypto-currency whales, art buyers, and advocates of the blockchain technology. The series also has its obvious appeal to professionals in the financial sector. The latest collection is coming at the most ideal time, with the world rapidly embracing the features and benefits of crypto-currency and blockchain technology.

In the fall of 2018, Adam Lindemann stated in an article in Bloomberg news byKatya Kazakina(https://bloom.bg/3eYwpla ) on November 29 as follows: "Everyone is talking about blockchain, but no one really understands it." Adam is a billionaire and abstract contemporary art collector, amongst the world's leading art collectors. He noted, "This is the right time to think about art and tech."

As the mp3 file undeniably influenced and redefined how the world listens to music, blockchain technology is about to be applied in numerous industries. The use of crypto-currency has become increasingly popular in recent times, with experts predicting growth to the tune of tens of trillions of dollars in the near future. The International Monetary Fund has also substantiated the claim, commenting on the advantages, stability crypto-currency values will enjoy as world economies, and fiat currencies continue to falter. However, the creative industry has been seemingly silent on the subject of crypto-currency and this is where WEI Art Collections is looking to change the narrative with the WEI Art Collections Innovation Series.

WEI Art Collections initially features the top three of the most prominent crypto-currencies destined for global dominance in the blockchain, global banking, and financial industries. There is also the Innovation Series 21 featuring 21 unique works, developed exclusively featuring Bitcoin. The series is developed in commemoration of Bitcoins issuance of 21 million coins. WEI Art Collections exemplifies the pinnacle of the crypto-art medium, engaging and employing emerging artists directly.

The mission of WEI Art Collections is to be amongst the premier contemporary abstract and cryptography art designers/producers/collectors, featuring works that celebrate the bourgeoning field of Cryptography through the new world technology of blockchain digital assets. Owning an exclusive work from the WEI Art Collections Series will also serve as an investment that will go down in history and appreciate over time. For more information please visithttps:/weiartcollections.art/

Media contactCompany: WEI Art CollectionsContact: Jean MarquetteE-mail:info@weiartcollections.artWebsite:https://weiartcollections.art

The rest is here:

WEI Art Collections Unveils New Multi-Million Dollar Contemporary Art Collection Commemorating Bitcoin and Ethereum - GlobeNewswire

KEY POINTS

Ethereums rally peaked at $418 on Aug. 2 only to crash to $302 within 10 minutes on Binance Futures, a 25%drop in one day. It rebounded to $385, a 27%upsurge in five minutes. Ethereums volatility coincided with Bitcoins, which dropped from $12,000 to $10,600 within 15 minutes.

Analysts are pointing to Ethereums historical charts and numerous liquidations happening at the same time that lead to the sudden drop in price for the worlds second largest cryptocurrency.

Upon reaching $418, ETH was at a level it has not reached since August 2018. It also acted as a support level when it was first broken in November 2017, one month before Bitcoins all-time highand two months before ETHs own price ceiling. There is historical pressure at $418 that analysts think breaching it would lead to a fresh round of upsurge for the cryptocurrency.

At the $420 resistance, numerous sell orders were triggered, which led to a price drop that exacerbated a cascade of futures liquidations, Forbesreported. Analyst Joseph Young said that as soon as long contracts get liquidated, the holder would be forced to sell the contract, which heightened the selling pressure.

Across futures markets on all assets, $1.1 billion worth of positions were liquidated from $70,000 traders, said Larry Cermak, director of research at The Block. $400 million was liquidated on each OKEx and Huobi; followed by BitMEX ($164M) and Binance ($86), he added.

Cermak also said that on BitMEX, $647 million came from Bitcoin futures and while Ethereum futures accounted for $165 million of liquidations.

Analysts do not see the $420 rejection as a sign that the surge has ended. The basis for the rally is the upcoming Ethereum 2.0, said Kelvin Koh, co-founder of crypto firm Spartan Black. Depending on how hard ETH runs, the successful launch of phase 0 may culminate in a near term peak for ETH and other large caps, he told Forbes.

Su Zhu, CEO of Three Arrows Capital, arguesthat people who are bullish on Bitcoin and stablecoins but not Ethereum is also one reason why it is outperforming the benchmark cryptocurrency. The best alpha opportunities are when you can recognize the collective blind spot of the market, he posted on Twitter.

With the meteoric rise of cryptocurrency in the last two years, new investors are looking to see massive returns. Photo: Pixabay

Link:

Ethereum Price Dropped 25% Then Surged 27% In Just 15 ...

EOS

EOS rose by 0.71% on Wednesday. Reversing a 0.53% decline from Tuesday, EOS ended the day at $3.0510.

A bearish start to the day saw EOS fall to an early morning intraday low $3.0015 before making a move.

Steering clear of the first major support level at $2.9556, EOS rallied to a late afternoon intraday high $3.0986.

Falling short of the first major resistance level at $3.1055, EOS slid back to a low $3.0055 before finding late support.

A final hour move back through to $3.05 levels delivered the upside on the day.

At the time of writing, EOS was down by 0.16% to $3.0460. A mixed start to the day saw EOS rise to an early morning high $3.0670 before falling to a low $3.0447.

EOS left the major support and resistance levels untested early on.

EOS would need to move through the $3.0504 pivot level to support a run at the first major resistance level at $3.0992.

Support from the broader market would be needed, however, for EOS to break out from Wednesdays high $3.0986.

Barring an extended crypto rally, the first major resistance level and Wednesdays high would likely cap any upside.

Failure to move through the $3.0504 pivot would bring the first major support level at $3.0021 into play.

Barring an extended sell-off, EOS should steer clear of the second major support level at $2.9533.

First Major Support Level: $3.0021

Pivot Level: $3.0504

First Major Resistance Level: $3.0992

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum rallied by 2.94% on Wednesday. Following on from a 0.92% gain from Tuesday, Ethereum ended the day at $401.21.

A mixed start to the day saw Ethereum fall to an early morning intraday low $383.86 before making a move.

Steering clear of the first major support level at $379.11, Ethereum rallied to a late intraday high $408.00.

Ethereum broke through the first major resistance level at $402.08 before sliding back to sub-$400 levels.

Finding late support, however, Ethereum moved back through to $401 levels to end the day in the green.

At the time of writing, Ethereum was down by 0.61% to $398.80. A mixed start to the day saw Ethereum rise to an early morning high $404.03 before falling to a low $398.13.

Ethereum left the major support and resistance levels untested early on.

Story continues

Ethereum would need to avoid a fall through the $397.69 pivot to support a run at the first major resistance level at $411.52.

Support from the broader market would be needed, however, for Ethereum to break out from Wednesdays high $408.00.

Barring an extended crypto rally, the first major resistance level should cap any upside.

A fall through the $397.69 pivot would bring the first major support level at $387.38 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$380 levels. The second major support level sits at $373.55.

First Major Support Level: $387.38

Pivot Level: $397.69

First Major Resistance Level: $411.52

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Ripples XRP rose by 0.38% on Wednesday. Following a 2.90% fall on Tuesday, Ripples XRP ended the day at $0.30239.

A bearish start to the day saw Ripples XRP fall to an early morning intraday low $0.29086 before finding support.

Steering clear of the first major support level at $0.2880, Ripples XRP rose to an early afternoon intraday high $0.30795.

Falling short of the first major resistance level at $0.3157, Ripples XRP fell back to sub-$0.30 levels before finding late support.

At the time of writing, Ripples XRP was down by 0.32% to $0.30141 A mixed start to the day saw Ripples XRP rise to an early morning high $0.30353 before falling to a low $0.30070

Ripples XRP left the major support and resistance levels untested early on.

Ripples XRP will need to avoid a fall through the $0.3004 pivot to support a run at the first major resistance level at $0.3099.

Support from the broader market would be needed, however, for Ripples XRP to break out from Wednesdays high $0.30795.

Barring another broad-based crypto rally, the first major resistance level should cap any upside.

In the event of a breakout, the 23.6% FIB of 0.3134 and the second major resistance level at $0.3175 could come into play.

Failure to avoid a fall through the $0.3004 pivot would bring the first major support level at $0.2929 into play.

Barring an extended crypto sell-off, Ripples XRP should avoid sub-$0.29 levels, however. The second major support level sits at $0.2833.

First Major Support Level: $0.2929

Pivot Level: $0.3004

First Major Resistance Level: $0.3099

23.6% FIB Retracement Level: $0.3638

38.2% FIB Retracement Level: $0.4800

62% FIB Retracement Level: $0.6678

Please let us know what you think in the comments below.

Thanks, Bob

This article was originally posted on FX Empire

Read this article:

EOS, Ethereum and Ripples XRP Daily Tech Analysis August 6th, 2020 - Yahoo Finance

The Ethereum Foundation is hiring a dedicated security team to ensure the next version of the decentralised platform is as robust as it needs to be.

A lot of money relies on the security of Ethereum. The explosion in DeFi (decentralised finance) means there is now $4.3 billion locked up in Ethereum apps an increase of 442% over the past three months. Yet, this is tiny compared to the figures we could be discussing in a few years as DeFi growth continues and more use cases present themselves across various industries.

Ethereums key advantage is being the first mover in the smart contracts space and garnering a legion of support behind it. There are currently around 200,000 active Ethereum developers and a recent initiative launched with the aim of attracting one million. Meanwhile, the Ethereum Enterprise includes hundreds of giants like Intel, Microsoft, JP Morgan, and more.

Long story short, a lot of people and companies are relying on Ethereum. Security is paramount.

Justin Drake, an Ethereum 2.0 researcher, announced the start of the recruitment process for a dedicated security team on Twitter:

The Ethereum Foundation has put a focus on security in recent months as preparation for the rollout of Ethereum 2.0 Phase 0 increases. Last month, the foundation launched two Ethereum 2.0 attack networks for hackers to try and break in return for a bounty. Various exploits have been discovered and patched through the initiative.

In its current form, Ethereum 1.0 is now struggling. The slow transaction speeds and increasing fees havent been too much of an issue for projects needs until this point, but now theyre quickly becoming a hindrance. Ethereum co-founder Vitalik Buterin recently said that many large organisations are waiting to join Ethereums ecosystem but first want a solution to its limited bandwidth.

Buterin proposed the Scalability Trilemma in the early days of Ethereum which suggests that its impossible to have complete decentralisation, scalability, and security. Platforms need to decide what to prioritise.

Competitors like EOS have demonstrated speeds of up to around 9,000 TPS but at the expense of decentralisation. Of course, its decentralisation which attracts people to the likes of Ethereum and Bitcoin over the many centralised alternatives which offer high scalability and security.

There are Layer 2 scaling solutions for Ethereum, like Matic, already available which can process transactions in the tens of thousands per second by taking less sensitive data off-chain. Anything which needs the security and decentralisation of Ethereum can be processed on-chain.

Rollups is a Buterin-backed solution which could boost Ethereum 1.0 up to around 3,000 TPS for Visa-level scalability (estimated to be around 1,700 TPS based on a calculation derived from the official claim of over 150 million transactions per day). This is sufficient for the vast majority of DApps for now.

Buterin expects rollups, in the first phase of Ethereum 2.0, to enable up to 100,000 TPS. Longer term, sharding may allow Ethereum to process over a million transactions per second. These are impressive figures which could unlock some exciting new use cases in areas like smart cities.

Some Ethereum developers believe the initial rollout of 2.0 will slip into next year. Others, including Buterin, still expect the rollout to begin this year and believe that it should launch even if initially rough as eth2 is not going to have any critical applications depending on it until phase 1, so the practical risks of breakage are lower.

Promising competitors like Cardano are on the heels of Ethereum offering some incentive to get 2.0 ready before developers look elsewhere. However, its clear there is still life left in Ethereum 1.0 if the likes of rollups can be used to reduce network congestion in the meantime.

(Photo by Clifford Photography on Unsplash)

Interested in hearing industry leaders discuss subjects like this? Attend the co-located 5G Expo, IoT Tech Expo, Blockchain Expo, AI & Big Data Expo, and Cyber Security & Cloud Expo World Series with upcoming events in Silicon Valley, London, and Amsterdam.

Tags: Apps, cybersecurity, dapps, decentralised, decentralised finance, defi, Developers, development, ethereum, ethereum 2, featured, hack, Platform, security

More:

Decentralised platform Ethereum is hiring a dedicated security team for 2.0 - Developer Tech

EOS

EOS rose by 0.90% on Thursday. Following on from a 0.79% gain on Wednesday, EOS ended the day at $3.0540.

It was a bearish start to the day. EOS fell to a mid-morning intraday low $2.9638 before making a move.

Steering clear of the first major support level at $2.9367, EOS rallied to a late intraday high $3.1066.

Falling short of the first major resistance level at $3.1410, EOS slipped back to wrap up the day at sub-$3.10 levels.

At the time of writing, EOS was up by 0.15% to $3.0585. A bullish start to the day saw EOS rise from an early morning low $3.0535 to a high $3.0652.

EOS left the major support and resistance levels untested early on.

EOS would need to avoid a fall through the $3.0415 pivot level to support a run at the first major resistance level at $3.1191.

Support from the broader market would be needed, however, for EOS to break out from Thursdays high $3.1066.

Barring another extended crypto rally, the first major resistance level at $3.1191 would likely cap any upside.

Failure to avoid a fall through the $3.0415 pivot would bring the first major support level at $2.9763 into play.

Barring an extended sell-off, EOS should steer well clear of sub-$2.90 levels and the second major support level at $2.8987.

First Major Support Level: $2.9763

Pivot Level: $3.0415

First Major Resistance Level: $3.1191

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum rallied by 5.39% on Thursday. Following a modest 0.20% rise from on Wednesday, Ethereum ended the day at $335.31.

A mixed start saw Ethereum fall to an early morning intraday low $314.52 before making a move.

Steering clear of the first major support level at $311.93, Ethereum rallied to a late intraday high $342.40.

Ethereum broke through the first major resistance level at $325.12 and the second major resistance level at $332.08.

Coming up short of the third major resistance level at $345.27, Ethereum eased back to sub-$340 levels.

At the time of writing, Ethereum was up by 0.08% to $335.58. A bullish start to the day saw Ethereum rise from an early morning low $335.18 to a high $336.99.

Ethereum left the major support and resistance levels untested early on.

Story continues

Ethereum would need to avoid a fall through the $330.74 pivot to support a run at the first major resistance level at $347.

Support from the broader market would be needed, however, for Ethereum to break out form Thursdays high $342.40.

Barring an extended crypto rally, the first major resistance level should cap any upside.

A fall through the $330.74 pivot would bring the first major support level at $319 into play.

Barring an extended sell-off, however, Ethereum should steer well clear of the second major support level at $302.86.

First Major Support Level: $319

Pivot Level: $330.74

First Major Resistance Level: $347

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Ripples XRP rose by 0.36% on Thursday. Following on from Wednesdays 5.57% rally, Ripples XRP ended the day at $0.24462.

A bearish start to the day saw Ripples XRP fall to an early morning intraday low $0.23425 before finding support.

Steering clear of the first major support level at $0.2320, Ripples XRP rose to a late intraday high $0.25000.

Falling short of the first major resistance level at $0.2530, Ripples XRP eased back to limit the upside on the day.

At the time of writing, Ripples XRP was down by 0.03% to $0.24454. A mixed start to the day saw Ripples XRP rise to an early morning high $0.24602 before falling to a low $0.24443.

Ripples XRP left the major support and resistance levels untested early on.

Ripples XRP will need to avoid a fall through the $0.2430 pivot to support a run at the first major resistance level at $0.2517.

Support from the broader market would be needed, however, for Ripples XRP to break out from Thursdays high $0.2500.

Barring another broad-based crypto rally, the first major resistance level should cap any upside.

In the event of a breakout, Ripples XRP should test the second major resistance level at $0.2587 before any pullback.

Failure to avoid a fall through the $0.2430 pivot would bring the first major support level at $0.2359 into play.

Barring an extended crypto sell-off, Ripples XRP should avoid sub-$0.23 levels and the second major support level at $0.2272.

First Major Support Level: $0.2359

Pivot Level: $0.2430

First Major Resistance Level: $0.2517

23.6% FIB Retracement Level: $0.3638

38.2% FIB Retracement Level: $0.4800

62% FIB Retracement Level: $0.6678

Please let us know what you think in the comments below.

Thanks, Bob

This article was originally posted on FX Empire

Read more here:

EOS, Ethereum and Ripples XRP Daily Tech Analysis July 31st, 2020 - Yahoo Finance

Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer.

Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.

Opinions expressed at FXStreet are those of the individual authors and do not necessarily represent the opinion of FXStreet or its management. FXStreet has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and Omissions may occur.Any opinions, news, research, analyses, prices or other information contained on this website, by FXStreet, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXStreet will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.

Read more:

Cryptocurrencies Price Prediction: Bitcoin, Ethereum & Bitcoin Cash Asian Wrap 07 Aug - FXStreet

The cost of sending a transaction on Ethereum plummeted today as congestion appears to be finally clearing.

According to EthGasStation, the average gas fee on Wednesday is between 30 and 40 Gwei, with a notable 6 Gwei as the minimum to get a transaction confirmed in less than 30 minutes.

This comes after a period of more than two months of elevated fees, touching at times more than 140 Gwei. Taking a standard Ether (ETH) transaction as an example, the average cost of sending it came down from about $1 to less than $0.25. The improvement is even more noticeable for DeFi users, where some interactions would regularly consume up to $15 in fees.

This appears to be part of a trend that began several days ago with the gradual decrease in transaction count, according to Etherscan data.

Source: Etherscan.io

Total gas usage and the number of token transfers have also decreased slightly, though seemingly less than the total transaction count. This could suggest that a decrease in DeFi transactions accounts for the majority of the relief, as transactions related to Tether and Forsage, an alleged Ponzi scheme, are topping the charts.

It is worth noting that Etherscan data does not yet include Wednesday, making it difficult to pinpoint what is driving the sudden lowering of the gas fees.

The Ethereum community raised the gas limit, the Ethereum equivalent of block size, up by 25% in June. This was not enough to immediately ease the congestion as demand was too high.

As Cointelegraph previously reported, Ethereum has a fairly elastic gas demand. When prices are high, lower value transactions in industries like blockchain gaming tend to decrease.

The congestion resulted in new users being unable to dip their toes in Ethereum DApps and DeFi, as some commentators noted.

See the rest here:

Ethereum Transaction Fees Fall by 75% as Congestion Eases - Cointelegraph

For the day ahead

Ethereum would need to move through the $391.38 pivot to support a run at the first major resistance level at $402.08.

Support from the broader market would be needed, however, for Ethereum to break back through to $400 levels.

Barring an extended crypto rally, the first major resistance level should cap any upside.

A fall through the $391.38 pivot would bring the first major support level at $379.11 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$360 levels. The second major support level at $368.41 and the 38.2% FIB of $367 should limit any downside.

First Major Support Level: $379.11

Pivot Level: $391.38

First Major Resistance Level: $402.08

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Ripples XRP fell by 2.90% on Tuesday. Partially reversing Mondays 7.58% rally, Ripples XRP ended the day at $0.30124.

A bullish start to the day saw Ripples XRP rise to an early morning intraday high $0.3190 before hitting reverse.

Falling short of the first major resistance level at $0.3249, Ripples XRP fell to an early afternoon intraday low $0.29026.

While steering clear of the first major support level at $0.2892, Ripples XRP fell through the 23.6% FIB of $0.3134.

Finding late support, Ripples XRP recovered to $0.30 levels to cut the deficit on the day.

At the time of writing, Ripples XRP was down by 1.46% to $0.29685. A bearish start to the day saw Ripples XRP fall from an early morning high $0.30239 to a low $0.29418

Ripples XRP left the major support and resistance levels untested early on.

Original post:

EOS, Ethereum and Ripple's XRP Daily Tech Analysis August 5th, 2020 - FX Empire

The average performance across Ethereum (ETH)-based assets has been a nearly 130% year-to-date (YTD) gain, according to data published by market data aggregator Messari.

The data provides an overview of the 178 assets that currently exist on Ethereum, totaling a combined market capitalization of $63.7 billion just shy of 20% of the entire crypto capitalization.

Including stablecoins, 124 of the assets have posted a YTD gain, meaning that 70% of Ethereum-based tokens have increased in value despite the shocks felt across the global economy amid the COVID-19 pandemic.

10 ETH-based tokens have posted YTD gains exceeding 500%, including major decentralized finance protocols Bancor (BNT) and Kyber Network (KNC).

One-third of Ethereum-based markets have more than doubled in value since the start of the year, with Ether ranking as the 41st-strongest performing asset with YTD gains of 142%.

15 tokens have suffered single-digit percentage losses, while nine assets have shed over half of their value during 2020 so far.

Excluding Tether, only Ether and Crypto.com Coin (CRO) sit among the top 10 crypto assets by market cap, closely followed by the 12th-ranked Chainlink (LINK).

Bitfinexs Unus Sed Leo (LEO) token and the USD Coin (USDC) stablecoin are also ranked among the 20-largest cryptocurrencies.

The rankings highlight Ethereums popularity among stablecoin issuers, with seven of the 25-largest ETH-based assets comprising stable tokens.

Read more:

Ethereum Is the Best-Performing Asset Class of 2020 - Cointelegraph

The second-biggest cryptocurrency following Bitcoin, Ethereum is on a tear higher this year. So as to celebrate its fifth year of existence, Ethereum doubled in value in the second half of July and the start of August. It rose from the $200 area to over $400, in a move with little pullbacks, filled with continuation patterns only.

Is it the demise of the USD that drives the price higher? Or the investors search for a new alternative for their investments? Or, even more, the excitement about the upcoming Ethereum 2.0 set to go live in 2020?

The Ethereum 2.0 project, to launch in phases (the first phase due out this upcoming fall), aims at challenging the Bitcoins blockchain dominance. Ethereum supporters argue that the Bitcoin blockchain is already too old for the current needs of society.

Ethereum 2.0 allows better scaling of the original projects capabilities by improving some of its features such as abandoning proof-of-work and introducing sharding, a technology improving Ethereums speed considerably.

Regardless of the fundamental reason lying behind Ethereums meteoric rise in 2020, it even outpaced Bitcoin in terms of market performance.

Since it broke higher in the second part of July, Ethereum did not look bank a bit. With the exception of a sharp sell-off triggered by Bitcoin after it broke the $12,000 mark, Ethereum evolved in a strong bullish trend.

Speaking about the rising trend, it is still visible. The series of higher highs and higher lows continues, arguing for more strength moving forward.

Initially, Ethereum formed a pennant. A continuation pattern, it reached the measured move after the pennant broke higher.

Following the measured moves completion, the flash crash generated by Bitcoin sent Ethereum back to support. On its bounce higher, it forms another triangle as a continuation pattern a sign that more strength is about to come.

To trade it, place a pending order to buy at the recent highs, with a stop-loss at the lowest point in the new triangular pattern. Next, measure the distance from the entry to the stop and project it twice to the upside to find out the target for a 1:2 risk-reward ratio.

Dont miss a beat! Follow us onTelegramandTwitter.

More content

Link:

Ethereum Doubled in Price In Less Than a Month More Upside to Come - InvestingCube

In summary:

The digital asset of XRP has had an eventful first half of the third quarter of 2020. July 1st found XRP trading at around the $0.17 support zone. Since then, the digital asset has since broken out of a two-year-long falling wedge first identified by the veteran crypto analyst, MagicPoopCannon. Furthermore, XRP has since reclaimed its number 3 spot from Tether (USDT) on Coinmarketcap.

XRPs upward momentum has resulted in a local peak of $0.327 on the 2nd of August. In the same time period, the daily XRP trade volume has increased from $1 Billion to $5.17 Billion. The latter value was attained on the same date of August 2nd and after the local top was achieved. This is an increment of 417% since the beginning of the third quarter of 2020.

The chart below by Santiment.net provides a better visual cue of the increment in daily trade volume.

At the time XRP was attempting to claim the $0.30 resistance level, the team at Ripple released the Q2 XRP market report. One key takeaway from the document is the announcement by Ripple, of the sale of $32.55 Million in XRP during the second quarter of 2020.

The sale of the aforementioned XRP was Over-The-Counter and thus did not affect the crypto market value of the digital asset. The team at Ripple further elaborated on this fact as follows.

In Q2 2020, total XRP sales were $32.55 million (USD) vs. $1.75 million the previous quarter. Ripple continued the pause of programmatic sales, focusing solely on its over-the-counter (OTC) sales as part of providing increased XRP liquidity to RippleNets On-Demand Liquidity (ODL) customers. This added liquidity is vital as ODL continues to evolve and expand into new corridors.

Summing it up, if the current bullish crypto market environment prevails, XRP looks set to continue on its upward trajectory and possibly hit the $0.77 value predicted by Magic.

As with all analyses of XRP, traders and investors are advised to have an eye out for any sudden price movements by Bitcoin that might affect the crypto markets.

See more here:

XRP Daily Trade Volume Increases by Over 400% in Q3, 2020 - Ethereum World News

Gamersthis one's for you. Thursday nights Ethereal Session focuses on non-fungible tokens (NFTs) and Ethereum-based decentralized gaming.

The free event kicks off at 7 PM EST with virtual discussions among Alex Connolly CTO of Immutable (creators of Gods Unchained), Marguerite Decourcelle, CEO of Blockade Games, and Nicolas Julia, Co-Founder of SuperRare. This session is sponsored by Gods Unchained, Immutable, Gitcoin, SuperRare,and Consensys(which funds Decrypt.)

Ethereum unlocks new opportunities for gamers to become creators, entrepreneurs, and even service providers, Brian OHagan of SuperRare, told Decrypt. Web3 technologies are evolving the nature of gaming by providing four new features: Digital ownership, scarcity, provenance, and peripheral markets.

Ethereal Sessions is an every-few-weekly series of virtual events that brings together builders and others interested in the decentralized future. Its goal is to examine how decentralized technology impacts peoples lives around the world. The sessions are recorded and available for playback.

No registration is required. For more information, go to etherealsummit.com

See the original post:

'Ethereal Sessions' focuses on Ethereum-based gaming - Decrypt

Crypto exchange Coinbase has struggled to keep up with Ethereums flash crash.

As Ethereums price briefly hit levels unseens since August 2018, and associated ERC-20 tokens spiked in price, Coinbases servers hit some snags.

Both Ethereum and Ethereum Classic, as well as all ERC20 tokens, including those of DeFi protocols Compound, Maker and Chainlink, now suffer from degraded performance, Coinbase wrote on its website.

The issue, as reported in a Coinbase Incident report, concerns delayed withdrawals and deposits.

The problems hit ETH and ERC-20 tokens first, at 5.52am (UTC) on Sundayjust after the flash crash, during which the price of ETH fell from its peak of $411 to $370 within five minutes.Then at 10.50am, Coinbase recognized an issue with delayed Ethereum Classic deposits.

For whatever reason, Coinbases servers couldnt handle it.

It could be the case that lots of people tried to sell off their ETH to prevent further losses. At the time of the crash, daily trading volume on Coinbase rose from $822 million to $1.1 billion within half an hour, according to metrics site Coin Gecko. Another reason could be that traders were busy converting their money into other, more stable currencies.

Coinbase resolved the Ethereum Classic issue within a couple of hours, but the site still lists the coin as suffering from degraded performance. As for ETH and its ERC-20 brethren, the message posted seven hours ago still remains: The issue has been identified and a fix is being implemented.

The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.

Go here to read the rest:

Coinbase struggles to keep up with Ethereum flash crash - Decrypt

Music is back on the blockchain.

Audius, a streaming service that connects music fans directly with artists, has raised $3.1 million in a strategic round co-led by Multicoin Capital and Blockchange Ventures, with participation from Pantera Capital and Coinbase Ventures.

Audius has now raised a total of $8.6 million as the platform prepares for prime time, having grown in less than a year to over 250,000 monthly users and 40,000 artists. EDM artists seem to be the sites burgeoning specialty with notables including RAC, deadmau5, Lido, 3LAU, Zeds Dead, Mr. Carmack and REZZ all signed on.

The blockchain use case for music is a familiar one: the inequity and tardiness of the revenue model of streaming services like Apple Music and Spotify.

It shouldnt take a year and a half to get paid, and its just crazy that the people creating the music only take 12%, Audius CEO Roneil Rumburg said in an interview. After this extreme time delay, the artist just gets this check, so they dont actually see whos listening to them. There is no visibility because the artist doesnt own their own data or their audience.

The Audius P2P network allows artists to be paid in full by their fans, directly and instantly for every stream with the ability to cash out daily or hourly if they want, Rumburg added.

Fair trade but for music

Ethereum-based Audius picks up the mantle carried by ConsenSys-backed Ujo Music and groundbreaking projects like Imogen Heaps Mycelia, which the artist described as fair trade music.

Indeed, folks such as Jesse Grushack, co-founder and CEO of the now-shuttered Ujo Music, have helped and advised Audius, as has Ujos former artist-in-residence, Andr Allen Anjos, better known by his stage name RAC, a Grammy Award winner who has remixed the likes of New Order, Lady Gaga and the Kings of Leon.

Anjos, who worked with Ujo for over a year and released an album on Ethereum, said the problem was the complexity of onboarding users.

We used to kind of joke that it could take like 36 steps to get ether into MetaMask, Anjos said in an interview. Just to interact with these systems you needed to go through this crazy setup, and I think Ujo kind of suffered from that. But today, if you go to Audius its a pretty similar experience to any other platform, arguably better. That initial barrier to entry is not a problem anymore.

Audius, which was founded in 2018 by Stanford University buddies Rumburg and Chief Product Officer Forrest Browning, has benefitted from a kind of diaspora of talent that had already been working on this problem, said Rumburg.

Back in 2016, when these projects came about, was just really early, he said. The amount of stuff that [ConsenSys founder] Joe [Lubin] had to build from scratch was just this astronomical ask.

The Audius team may have built the music player with a user interface that looks and feels like Spotify or SoundCloud, but it couldnt be more different under the hood.

Decentralized streaming

The network consists of indexing nodes, which provide a discovery service, and content-posting or creator nodes. This intersection of fans, artists and infrastructure providers who host and index content (stakers in blockchain parlance), uses both the Ethererum public blockchain (which is where all the staking and look-up nodes are running) and a second, permissioned network where the uploaded content lives.

Its fully community-operated and hosted, said Rumburg. Today, if we shut down Audius, the company, all of this could keep working and keep running so long as the community wants to keep it up and running.

Following on from a minimum viable product mainnet launch in the next couple of months, the next stage is to add instant payments for monetized content, which will use a system of stablecoins and be in place before the end of the year, said Rumburg.

Payments will be done with a kind of stablecoin mechanism. So thats not like an Audius native token, but a basket of third-party tokens. Itll probably be a couple of the bigger ones, he said. Were looking for good fiat to crypto on-ramp options. From the users perspective, they dont even know this is happening. They just put in a credit card and top up that account and see a balance.

The user interface for artists is just as simple, said Audius CPO Forrest Browning.

As an artist, if you decide to monetize some of your content, your Audius dashboard might show you have $500 or whatever is your local currency, and with a one-click direct deposit you can pull that out, without knowing a stable token system was integrated, Browning said.

Deep cuts

Music distribution on the internet has moved on since the time of Napster, but when an artist is signed to a label the label owns the rights to the artists master copies and gets to decide where that content is distributed. There seems to be more opportunity for negotiation these days, particularly between artists and forward-thinking independent labels.

The majority of our usage right now is coming from independent artists who are not signed, said Rumburg. Those that are signed to progressive labels have gone and got permission from their label. I think the mentality is, the sooner you sign up to a system like this, the more following and momentum you build, similar to early accounts on SoundCloud or anything else like that.

RAC, who is signed to iconic U.K. indie label Ninja Tune, said the conversation about him releasing an album on Ethereum back in 2017 was very easygoing, because the label is tech savvy.

The way to go is obviously to ask the label for permission, but I feel like it would be a non-issue in most cases. I think most labels would say, Why not? and just approach this as another distribution platform, he said.

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Link:

Audius Rallies EDM Artists, Crypto VCs to Back Vision for Music Payments on Ethereum - CoinDesk - CoinDesk

For decentralized finance (DeFi) to make its mark, it must reach beyond the crypto bubble, said MakerDAO founder Rune Christensen.

Compared to where were going next, weve still just scratched the surface of what this technology will do, Christensen, whose lending platform recently topped $1 billion in committed assets, said.

He was joined by fellow DeFi luminaries Robert Leshner and Hayden Adams on Wednesday in a live-streamed conversation on the state of the $3.8 billion DeFi market. The session, part of CoinDesks Ethereum at Five series, was moderated by reporter Will Foxley.

It will certainly be a hard row to hoe, but the craze for yield farming and other middleman-less innovations could yet subvert traditional lenders. To date, DeFi has arguably been Ethereums best use case.

Were moving towards a world of mass tokenization, where everything that has value is going to be tokenized, said Adams, the founder of Uniswap, a platform for exchanging ERC-20 tokens. At the moment it looks like Ethereum is at least in the lead in terms of where its going to be tokenized.

Leshner, the founder of the Compound lending protocol, said DeFi has the potential to transform the opaque, expensive and slow systems of traditional finance.

The best things that work in traditional finance are the things that you know are there, they work and theyre not that exciting, Leshner said. Can you supply $100 million of assets and begin earning interest on them immediately? Or can you borrow$100 million of assets instantaneously and note that the entire system works?

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Here is the original post:

CoinDesk Live Recap: Ethereum's DeFi Luminaries Discuss What's Next - CoinDesk - CoinDesk

EOS

EOS rose by 0.79% on Wednesday. Following on from a 5.06% rally on Tuesday, EOS ended the day at $3.0292.

It was another mixed start to the day. EOS fell to an early morning intraday low $2.9560 before making a move.

Steering clear of the first major support level at $2.8319, EOS rallied to a late morning intraday high $3.1603.

EOS broke through the first major resistance level at $3.1288 before falling back to an afternoon low $3.0200.

Steering clear of sub-$3.00 levels, EOS found late support briefly revisit $3.11 levels before wrapping up the day at $3.02 levels.

At the time of writing, EOS was down by 0.48% to $3.0148. A bearish start to the day saw EOS fall from an early morning high $3.0286 to a low $2.9762

EOS left the major support and resistance levels untested early on.

EOS would need to avoid a fall through the $3.0485 pivot level to support a run at the first major resistance level at $3.1410.

Support from the broader market would be needed, however, for EOS to break back through to $3.10 levels.

Barring another extended crypto rally, the first major resistance level at $3.1410 would likely cap any upside.

Failure to move through the $3.0485 pivot would bring the first major support level at $2.9367 into play.

Barring an extended sell-off, EOS should steer well clear of sub-$2.90 levels and the second major support level at $2.8442.

First Major Support Level: $2.9367

Pivot Level: $3.0485

First Major Resistance Level: $3.1410

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum rose by 0.20% on Wednesday. Reversing a 1.49% fall from Tuesday, Ethereum ended the day at $318.16.

A mixed start saw Ethereum fall to an early morning intraday low $312.66 before finding support.

Steering clear of the first major support level at $306.81, Ethereum rose to an early afternoon intraday high $325.85.

Falling short of the first major resistance level at $327.86, Ethereum fell back to sub-$320 levels before finding late support.

A move back through to $323 levels was brief, however, with Ethereum falling back to sub-$320 late in the day.

At the time of writing, Ethereum was down by 0.35% to $317.06. A bearish start to the day saw Ethereum fall from an early morning high $318.16 to a low $315.38.

Ethereum left the major support and resistance levels untested early on.

Story continues

Ethereum would need to move through the $319 pivot to support a run at the first major resistance level at $325.

Support from the broader market would be needed, however, for Ethereum to break back through to $325 levels.

Barring an extended crypto rally, the first major resistance level and Wednesdays high $325.85 should cap any upside.

Failure to move through the $319 pivot would bring the first major support level at $312 into play.

Barring an extended sell-off, however, Ethereum should steer clear of the second major support level at $306.

First Major Support Level: $312

Pivot Level: $319

First Major Resistance Level: $325

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Ripples XRP rallied by 5.57% on Wednesday. Following on from a 2.67% gain on Tuesday, Ripples XRP ended the day at $0.2437.

A bullish start to the day saw Ripples XRP rally to an early morning high $0.24459 before easing back.

Ripples XRP broke through the first major resistance level at $0.2379 before falling to an afternoon low $0.2369.

Finding late support, however, Ripples XRP rallied to a late intraday high $0.24988. Ripples XRP broke through the first major resistance level and the second major resistance level at $0.2451 before pulling back.

The late pullback saw Ripples XRP fall back through the second major resistance level.

At the time of writing, Ripples XRP was down by 1.48% to $0.24010. A bearish start to the day saw Ripples XRP slide from an early morning high $0.24382 to a low $0.24010.

Ripples XRP left the major support and resistance levels untested early on.

Ripples XRP will need to move back through the $0.2412 pivot to support a run at the first major resistance level at $0.2530.

Support from the broader market would be needed, however, for Ripples XRP to break out from Wednesdays high $0.25049.

Barring another broad-based crypto rally, the first major resistance level should cap any upside.

In the event of a breakout, Ripples XRP should test the second major resistance level at $0.2622 before any pullback.

Failure to move back through the $0.2412 pivot would bring the first major support level at $0.2320 into play.

Barring an extended crypto sell-off, Ripples XRP should avoid sub-$0.23 levels and the second major support level at $0.2202.

First Major Support Level: $0.2320

Pivot Level: $0.2412

First Major Resistance Level: $0.2530

23.6% FIB Retracement Level: $0.3638

38.2% FIB Retracement Level: $0.4800

62% FIB Retracement Level: $0.6678

Please let us know what you think in the comments below.

Thanks, Bob

This article was originally posted on FX Empire

The rest is here:

EOS, Ethereum and Ripples XRP Daily Tech Analysis July 30th 2020 - Yahoo Finance

Ethereums biggest-ever upgrade is supposed to make the blockchain network faster and more efficient. But the new staking system could lock up so many of the networks native ether tokens that investors who want to trade them may have to rely on derivatives markets.

The blockchain, the worlds second-biggest, currently uses a validating mechanism similar to larger Bitcoins known as proof-of-work, where new data blocks and transactions are confirmed via power-hungry computers solving complex cryptographic puzzles.

Under Ethereums multi-year upgrade now underway, the network would shift to a proof-of-stake model, where investors validate transactions by staking ether on the blockchain in exchange for token rewards. Its a bit like depositing dollars into a bank account for interest, paid out in dollars.

Related: Bitcoin Price Rises 3% as Gold Trades Above $2K for First Time

A possible consequence, though, is the new staking system could soak up as much as 30% of the ether tokens in circulation, based on estimates from Adam Cochran, a partner at MetaCartel Ventures, a decentralized investment firm. An address needs to stake at least 32 ether tokens, worth about $12,400 at the current price, to become a validator in the proof-of-stake model.

Its possible to see a future scenario where the incentive to keep assets locked up on-chain is so great as to remove some liquidity from the market, says Diogo Monica, co-founder and president of the digital-asset custodian Anchorage, told CoinDesk in an email.

In May, a survey by the Ethereum developer Consensys found that 65% of ether investors were planning to stake the cryptocurrency under the new system, known as Ethereum 2.0, and half of those wanted to run validator nodes.

Most staking mechanisms have a lock-up period. Rocket Pool Staking, an Ethereum 2.0 staking service, offers staking terms ranging from three months to a year.

Related: US Lawmakers Don't Want Proof-of-Stake Networks to Get Overtaxed

Some ether tokens might get locked in staking as the network upgrade proceeds. Ethereum 2.0 is being rolled out in three phases of what could end up being a multiyear process, with the original proof-of-work blockchain running in parallel until the two networks are merged at Phase 1.5.

Wilson Withiam, a research analyst at the cryptocurrency data firm Messari, told CoinDesk that ethers sent to the deposit contract will likely remain locked up until Phase 1.5, and that could cause a decline in the amount of ether readily available.

Cryptocurrency analysts say ether-staking yields of 3% to 5% would be so tantalizing at a time when government bonds carry near-zero or even negative yields that few investors would opt to leave their tokens in Uniswap or other decentralized trading systems where they could be accessed by traders.

In that case, people will have an incentive to create ways to buy and sell ether shares that abstract whether the underlying asset is currently being staked, Monica said.

Derivatives might be a solution.

Fixed income from staking could even be packaged as a distinct product. Holders who stake their coins could create voucher tokens representing a claim on the stake. Then they could trade the tokens for ether or other cryptocurrencies. So buyers could capture the yield without having to own the underlying asset.

As an alternative to selling voucher tokens, holders could deposit ether as collateral on decentralized lending and borrowing platforms.

Messaris Withiam says he thinks staking derivatives are inevitable.

It will give traders access to tradable assets so that they can continue to do what they do best, Withiam said. Exchanges will be able to offer new markets around these assets and potentially lock customers within their product suite if the synthetic assets arent transferable outside of the exchange.

For now, all this really just amounts to speculation over how speculators will want to speculate on ether.

But theres no lack of motivation: Plenty of cryptocurrency analysts say its possible ethers price could jump as demand increases for tokens to stake. Ethers price has tripled this year to about $390. Such returns far exceed bitcoins 56% gain on the year.

Story continues

Financial incentive to buy and hold both increases the security of the network, and could lead to dramatic price appreciation, said Connor Abendschien, an analyst at the research firm Digital Assets Data.

BTC: Price: $11,509 (BPI) | 24-Hr High: $11,521 | 24-Hr Low: $11,045

Trend:Bitcoin is showing signs of life with a near 3% rise to over $11,500 on Wednesday after a lackluster day yesterday.

The bulls will be hoping to maintain a foothold above $11,400, having failed to keep gains above that level in the previous two trading days. If successful, stronger buying interest may emerge, pushing prices to the psychological hurdle of $12,000 last put to test on July 27.

However, if the market fails to absorb selling pressure above $10,400, a re-test of the daily chart support at around $10,900 may be seen.

A continued bullish scenario looks likely with gold, an inflation-hedge, rallying to record highs above $2,000 and the U.S. dollar losing ground across the board. Both bitcoin and gold have recently moved in tandem, with Goldman Sachs warning that the greenback could lose its global reserve status.

The overall bias will stay bullish as long as prices are held above the former hurdle-turned-support at $10,500 (February high).

The rest is here:

First Mover: Ethereums Transition to Staking Could Push More Traders to Use Derivatives - Yahoo Finance

In brief:

Back in mid-July, CZ Tweeted that the Binance Launchpad team was reviewed a list of promising crypto projects in hopes of selecting one as the next IEO on the platform. The last time the Binance Launchpad hosted a crowdfunding event was in April. As a result, Binance Coin (BNB) investors have been waiting paitently for an announcement from the team providing details of the next one.

Since the initial announcement by CZ, Binance Coin investors have expressed their optimism with respect to the upcoming IEO. Furthermore, some have taken to social media to remind the Binance team of their promise to announce the details of the next crowdfunding event on the platform as can be seen in the following Tweet.

Additionally, speculation is high that the next Binance Launchpad IEO will be a DeFi project

The excitement and anticipation of a new Binance Launchpad IEO has positively affected the value of Binance Coin (BNB) in the crypto markets. When CZ made the announcement that an IEO was in the pipeline, Binance Coin (BNB) was valued at $17. A quick glance at the BNB/USDT chart reveals that Binance Coin has since broken the $19 and $21 resistance level with the digital asset now consolidating at the $22 price level.

With the details of the Binance IEO yet to be announced, the value of Binance Coin (BNB) could continue on its upward trajectory. If the general crypto-market environment is maintained, BNB could possibly break other resistance levels such as $23, $24.5, $26.2 or even the February peak of $27.3.

As with all analyses of Binance Coin (BNB), traders and investors are advised to have an eye out for any sudden Bitcoin price movements that might affect their trading positions. Furthermore, stop losses and low leverage are advised to protect trading capital from sudden volatility.

See the rest here:

BNB Investors Remain Bullish on the Pending Binance IEO Announcement - Ethereum World News