In brief

Digital assets management firm Grayscale has increased the weighting of Bitcoin and Ethereum in its Digital Large-Cap (DLC) investment fundat the expense of other major altcoins.

Grayscale announced in a Twitter thread on July 12 that the composition of its DLC fund had shifted moving into Q2 of 2020. Between March and June, the percentage of Bitcoin in the fund increased from 81% to 81.5%, while Ethereums weighting in the fund increased from 9.6% to 11.7%.

The presence of three other major altcoins in the fund was reduced in the same time period. XRPs (XRP) weighting dropped from 5% to 3.6%; Bitcoin Cash fell from 2.8% to 2%; and Litecoins presence decreased from 1.6% to 1.2%.

Grayscales single-asset investment funds for Bitcoin and Ethereum are the largest under the firms management, totalling $3.5 billion and $410 million respectively. Comparatively, the single-asset funds for Bitcoin Cash, Litecoin and XRP total less than $12 million between them.

The worlds largest crypto-investment firm signaled a renewed thirst for Bitcoin throughout most of 2020. Prior to the Bitcoin halving event, Grayscale was estimated to be purchasing the equivalent of around half of all Bitcoin mined. In the two weeks after Bitcoins halving, Grayscales rate of Bitcoin acquisition increased to 153% of all BTC mined in that period.

By early April, the digital asset investment firm was also shown to be purchasing the equivalent of half of all ETH mined in 2020, eventually coming to own 1.1% of Ethereums circulating supply.

Its conceivable that Grayscales re-evaluation of its DLC fund is a reaction to market conditions. Since March 31, the global market dominance of Ethereum increased from 8.17%, to over 9.8% at time of writing. In the same time period, XRPs market dominance fell from 4.21% to 3.28%. Bitcoin Cashs dominance decreased from 2.27% to 1.6%. Likewise, Litecoins dominance dropped from 1.4% to 1.07%, according to CoinMarketCap.

The only exception to this trend is Bitcoin, the market dominance of which fell from 65.78% from March 31, to 62.46% at time of writing. This could be a result of the recent block reward halving, which resulted in half as many BTC being produced by Bitcoin miners.

Go here to see the original:

Grayscale large cap fund shifts focus to Bitcoin and Ethereum - Decrypt

For the day ahead

Ethereum would need to move through the $240.60 pivot to support a run at the first major resistance level at $244.22.

Support from the broader market would be needed, however, for Ethereum to break back through to $244 levels.

Barring another extended crypto rally, the first major resistance level and Mondays high $245.37 should cap any upside.

Failure to move through the $240.60 pivot would bring the first major support level at $235.82 into play.

Barring another extended sell-off, Ethereum should continue to steer clear of sub-$230 levels. The second major support level at $232.19 should limit any downside.

Major Support Level: $235.82

Pivot Level: $240.59

Major Resistance Level: $244.22

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Ripples XRP fell by 1.31% on Monday. Reversing a 0.18% gain from Sunday, Ripples XRP ended the day at $0.19889.

Tracking the broader market, Ripples XRP rose to a mid-day intraday high $0.20698 before hitting reverse.

Ripples XRP broke through the first major resistance level at $0.2047 before sliding to a late intraday low $0.19246.

Ripples XRP fell through the first major support level at $0.1983 and the second major support level at $0.1950.

Finding late support, Ripples XRP broke back through the major support levels.

At the time of writing, Ripples XRP was down by 0.54% to $0.19782. A bearish start to the day saw Ripples XRP fall from an early morning high $0.19877 to a low $0.19778.

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

Excerpt from:

EOS, Ethereum and Ripple's XRP Daily Tech Analysis July 14th, 2020 - FX Empire

While the rest of the crypto market has been soaring, Bitcoin and Ethereum have been trending sideways. The tightening price action has led to boredom and record low volatility.

But a buy signal on each of these two most dominant crypto assets could lead to a sudden change in trend, and hopefully an end to this trading range.

The two largest cryptocurrencies by market cap have been the most stagnant of the bunch. Both Bitcoin and Ethereum have more resembled a stablecoin more so than their explosively volatile former selves.

The uncharacteristic sideways price action in these two assets pushed investors and traders to find opportunities in greener pastures.

Related Reading | Bitcoin Historical Volatility Approaching Zero Could Signal Blossoming Bull Trend

Elsewhere in the crypto market, Chainlink set a new all-time high and several DeFi tokens have skyrocketed as that bandwagon chugs along.

Nearly every major crypto asset had some positive movement, even long cryptocurrency market underperformers like Ripples XRP and Stellars XLM.

Its only been Bitcoin and Ethereum, the two primary market movers and most dominant crypto assets, that have behaved in this manner.

All this could soon change now that a buy setup has appeared on todays daily price chart on the two assets.

Although the number one and number two ranked cryptocurrencies have been trading sideways, there has been enough downside to trigger a buy setup on their USD trading pairs.

On both BTCUSD and ETHUSD, the TD Sequential indicator is signaling a 9 count and imperfect buy setup.

For the buy setup to perfect, todays candle must set a lower low than yesterdays low, pushing to sub $9000.

A rise above roughly $9250 would flip the series green and change the 9 to a 1 candle. A 1 candle signifies the start of a new sequence.

For Ethereum to perfect, the number one altcoin must fall to below $229 per ETH. A rise above $240 would turn the series green and start the sequence over.

Its worth noting that just because the setup is here, it doesnt necessarily guarantee follow-through. The indicator has been highly accurate in cryptocurrency trading but isnt 100% successful.

Related Reading | Sell Signals On Ethereum and Others Could Mean Altcoin Season Is Finished

Recently, sell setups on these same major crypto assets have resulted in no break of the current trading range or end to sideways action. A sell signal also appeared ahead of Chainklink setting new record highs so anything is possible.

If Bitcoin and Ethereum once again shake off any buy or sell signals, the crypto market could experience an even longer bout of stagnancy. If this continues, small- and mid-cap altcoins could continue to outperform.

Original post:

Buy Signals On Bitcoin and Ethereum Could Bring Sudden End To Sideways Trend | NewsBTC - newsBTC

The Ethereum network has been among one of the few major projects flourishing in the time of a dull market. Even though the price has been unreactive, the ecosystem has been noticing a faster-moving network, due to an increase in the gas limit. According to the data, the Ethereum gas limit has reached a new all-time high of 12,500,000 from 10,000,000. This happened after the vote by Ethereum miners to increase the block gas limit by 25%.

According to data provided by the Co-founder and Chief Architect of bloXroute Labs, Aleksandar Kuzmanovic, this increase in the gas limit was modest and implied that a much higher limit can be put in place.

An increase in gas price did not discourage the on-chain transaction which was noted to have increased. The transactions had increased to 44 per second, compared to the previous limit of around 35. As the number of transactions per second increased, with a stable on-chain volume, it suggested that the surge in the total gas usage likely originated from the increased use of more complex smart contracts which required more gas.

As the network remained highly active and the blocks remained full, the need for another increase in the gas limit was visible. Along with an increase in transactions being processed the number of addresses holding 1+ coins also has peaked to mark an ATH. According to data provider Glassnode, 1.083 million addresses now held 1+ ETH coins.

Another important metric that highlighted Ethereums network health was the Uncle rate. It is the rate at which Ethereums blockchain orphans blocks. According to data collated from the mining pool, it can be said that the network was healthy and could handle a higher volume of TPS.

Go here to see the original:

Ethereums increased gas limit enables network to hit 44 TPS - AMBCrypto English

Quick take:

The market action surrounding many altcoins is giving the impression of an altseason. This was explored in an earlier analysis that explained how an altseason could be upon the crypto-verse as a result of Bitcoins social dominance reducing significantly.

Furthermore, Ethereums gains against Bitcoin on the ETH/BTC pair is indicative of altcoins soon having a chance to thrive in the crypto markets. Evidence of an altseason was also demonstrated by a new All-time high of the ShitCoin perpetual contract on FTX.com.

One of the altcoins doing particularly well in the crypto markets is VeChain (VET). According to the team at Binance research, VeChain has had a phenomenal month of June delivering over 40% in gains.

The team shared this observation in the June edition of the monthly Binance trading report where they explained that large-cap coins were experiencing some sort of stagnation in the crypto markets.

Most large-cap cryptocurrencies delivered negative returns, while mid and small-cap cryptocurrencies such as LINK, ADA, BAT, VET, and IOST delivered positive returns. In particular, VET had a phenomenal month, delivering more than 40% return in June.

The impressive performance of VeChain in the month of June is also very much evident two weeks into the month of July. Taking a look at the daily VET/USDT chart courtesy of Tradingview.com, VeChain is clearly in a parabolic run at its current value of $0.0177.

From the daily VET/USDT chart, the following can be observed.

As with all analyses of altcoin such as VeChain (VET), the use of stop losses and low leverage is highly advised when trading VET on derivatives platforms such as Binance. Additionally, keeping an eye out for any sudden Bitcoin moves could be a good way of gauging the market environment for altcoins such as VeChain.

Disclaimer:This article is not meant to give financial advice. Any additional opinion herein is purely the authors and does not represent the opinion of EWN or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.

Continue reading here:

Binance Report: VeChain (VET) Delivered More than 40% Return in June - Ethereum World News

Key Takeaways

Despite lackluster price action last week, Ether is flashing multiple buy signals as Ethereum network growth continues to surge.

Ethereum was contained within a descending parallel channel through June. During the previous month, ETH rose to the upper boundary of this technical formation, but its price was rejected by the barrier and fell back towards the lower boundary. From that point, the smart contract giant bounced back up to resistance, consistent with the characteristics of a channel.

A spike in the buying pressure behind Ether allowed it to break out of the descending parallel channel last week. However, buy-pressure was weak and prices sputtered.

Now, ETH is trading just above the upper boundary of the channel. With sufficient consolidation, this may create a new overhead resistance level unless theres an uptick in demand.

One strategy for analysis is to draw a parallel line equal to the height of the channel to use as a target when an asset breaks out of that channel. Based on this technical rule, Ethereum could advance as far as $265 if demand picks up.

Even though Ethereum seems to be on the cusp of a bullish breakout, traders have shifted their focus towards lower-cap altcoins. Data reveals that the number of ETH-related mentions across different social media networks dropped significantly over the past few days.

The negative social sentiment is likely due to the lackluster price action, but the outcome may benefit the bulls, according to Brian Quinlivan, marketing and social media director at Santiment.

With enough people ignoring ETH while keeping their eyes on smaller caps, there will be an opportunity to catch the crowd off guard to make whale investors maximize their gains when they finally make their moves, said Quinlivan.

The rate at which the Ethereum network is growing adds credence to the bullish outlook. This fundamental metric is one of the most important gauges for understanding the health and well being of any crypto project.

Historical data suggests that this is a precise price predictor. Indeed, network growth has led to an increase in Ethereums price over the last four months, while declining network growth has been followed by price slumps.

Over the past three days, Ethereums network growth jumped by nearly 21%. The sudden upswing might be followed by a price increase if history repeats itself.

While the odds seem to favor the bulls, investors must pay close attention to the $236 support level. A daily candlestick close below this price hurdle may jeopardize the optimistic outlook. Under such circumstances, the next significant levels of support to watch out for sits between $231 and $224.

The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.

You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.

See full terms and conditions.

More Delays? Ethereum 2.0 Developers Expect 2021 Launch, Vitalik Buter...

SEC Approves Arcas Ethereum-Based Digital Securities Fund

Bitcoin, Ethereum, and XRP Open Markets With a Bang, More to Come

Original post:

Ethereum Is Ready to Go Bullish According to These Indicators - Crypto Briefing

EOS

EOS fell by 0.19% on Friday. Following on from a 1.18% decline on Thursday, EOS ended the day at $.24991.

It was another mixed start to the day. EOS rose to an early morning high $2.5155 before hitting reverse.

Coming up short of the major resistance levels, EOS fell to a mid-morning intraday low $2.4767.

Steering clear of the first major support level at $2.4382, EOS struck a mid-day intraday high $2.5233 before easing back.

Falling short of the first major resistance level at $2.5641, EOS fell back to sub-$2.50 levels and into the red.

Finding support late in the day, EOS briefly moved back through to $2.50 levels before easing back.

At the time of writing, EOS was up by 0.18% to $2.5036. A bullish start to the day saw EOS rise from an early morning low $2.5036 to a high $2.5063.

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

EOS would need to move through the $2.5000 pivot level to support a run at the first major resistance level at $2.5227.

Support from the broader market would be needed, however, for EOS to break back through to $2.52 levels.

Barring an extended crypto rally, the first major resistance level and Fridays high $2.5233 would likely cap any upside.

Failure to move through the $2.5000 pivot would bring the first major support level at $2.4761 into play.

Barring another extended sell-off, EOS should steer clear of sub-$2.40 levels. The third major support level at $2.4065 should limit the downside.

First Major Support Level: $2.4761

Pivot Level: $2.5000

First Major Resistance Level: $2.5227

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum fell by 0.33% on Friday. Following on from a 2.07% slide on Thursday, Ethereum ended the day at $232.7.

It was also another mixed start to the day. Ethereum rose to an early morning high $234.33 before hitting reverse.

Falling short of the first major resistance level at $238.46, Ethereum slid to a mid-morning intraday low $230.87.

Steering clear of the first major support level at $229.07, Ethereum moved back through to $233 levels before easing back.

At the time of writing, Ethereum was up by 0.16% to $233.07. A mixed start to the day saw Ethereum fall to an early morning low $232.49 before rising to a high $233.26.

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

Story continues

Ethereum would need to avoid a fall through the $232.71 pivot to support a run at the first major resistance level at $234.54.

Support from the broader market would be needed, however, for Ethereum to break back through to $234 levels.

Barring an extended crypto rally, the first major resistance level and Fridays high $234.55 should cap any upside.

Failure to avoid a fall through the $232.71 pivot would bring the first major support level at $230.86 into play.

Barring another extended sell-off, Ethereum should continue to steer clear of sub-$225 levels. The second major support level at $229.03 would come into play in the event of a pullback, however.

First Major Support Level: $230.86

Pivot Level: $232.71

First Major Resistance Level: $234.54

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Ripples XRP fell by 0.03% on Friday. Following on from a 1.58% slide on Thursday, Ripples XRP ended the day at $0.19464.

A bearish start to the day saw Ripples XRP fall to a mid-morning intraday low $0.19153 before making a move.

Steering clear of the first major support level at $0.1894, Ripples XRP struck a mid-day intraday high $0.19842.

Falling short of the first major resistance level at $0.19785, Ripples XRP fell back to sub-$0.1930 levels before finding support.

A late move back through to $0.1940 levels reversed the heavier losses from the day.

At the time of writing, Ripples XRP was up by 0.13% to $0.19490. A mixed start to the day saw Ripples XRP fall to an early morning low $0.19434 before rising to a high $0.19490.

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

Ripples XRP will need to avoid a fall back through the $0.1949 pivot to support a run at the first major resistance level at $0.1982.

Support from the broader market would be needed, however, for Ripples XRP to break back through to $0.1980 levels.

Barring a broad-based crypto rally, the first major resistance level and Fridays high $0.19842 should cap any upside.

In the event of a breakout, Ripples XRP should test resistance at $0.20 before any pullback. The second major resistance level sits at $0.2018.

Failure to avoid a fall back through the $0.1949 pivot would bring the first major support level at $0.1913 into play.

Barring an extended crypto sell-off, Ripples XRP should avoid sub-$0.1850 levels. The second major support level at $0.1880 should limit any downside.

First Major Support Level: $0.1913

Pivot Level: $0.1949

First Major Resistance Level: $0.1982

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

Go here to see the original:

EOS, Ethereum and Ripples XRP Daily Tech Analysis July 18th, 2020 - Yahoo Finance

Looking at the Technical Indicators

Major Support Level: $237.21

Pivot Level: $239.39

Major Resistance Level: $241.36

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Ripples XRP rose by 0.86% on Saturday. Partially reversing a 1.69% fall from Friday, Ripples XRP ended the day at $0.20124.

A bullish start to the day saw Ripples XRP break through R1 @ $0.2041 to strike an intraday high $0.20504.

Bearish through the afternoon, Ripples XRP fell to a late intraday low $0.19811.

While falling into the red, Ripples XRP avoided S1 @ $0.1936. Finding late support, Ripples XRP moved back through to $0.20 levels and into the green.

Looking at the MACD, weve seen a narrowing of the bullish histograms early on, supportive of a pullback in the day ahead.

The spreads between the 50-day EMA and 100 and 200 EMAs have also narrowed marginally also supporting a reversal.

Avoiding a fall through the days pivot level at $0.2015 will be key to support the upward momentum.

Barring an extended crypto rally, R1 @ 0.2048 and Saturdays high $0.20504 would likely cap any upside.

A fall through the days pivot level at $0.2015 would bring the S1 @ $0.1979 into play before any recovery.

Barring an extended sell-off, Ripples XRP should avoid sub-$0.19 levels. S2 @ 0.1945 should limit any downside.

At the time of writing, Ripples XRP was up by 0.11% to $0.20147. A bullish start to the day saw Ripples XRP rise from an early morning low $0.20122 to a high $0.20340. Ripples XRP left the major support and resistance levels untested early on.

Read more:

EOS, Ethereum and Ripple's XRP - Daily and Hourly Tech Analysis July 12th, 2020 - FX Empire

Ethereum is retreating lower from the $245 resistance against the US Dollar. ETH is now showing bearish signs below $235, but the $230 support holds the key in the near term.

In the past few sessions, Ethereum followed a bearish path from the $245 resistance against the US Dollar. ETH price broke the main $235 support level and the 100 hourly simple moving average to move into a bearish zone.

The decline was such that the price tested the $230 support level. Ether is currently correcting higher and trading above the $232 level. It surpassed the 23.6% Fib retracement level of the recent decline from the $239 swing high to $230 low.

On the upside, the price is facing a strong resistance near the $235 level. There is also a crucial bearish trend line forming with resistance near $235 on the hourly chart of ETH/USD.

The trend line is close to the 50% % Fib retracement level of the recent decline from the $239 swing high to $230 low. The next key resistance is near the $236 level and the 100 hourly SMA (the recent breakdown zone).

If ether climbs above the $235 and $236 resistance levels, it could start a decent recovery wave. The next hurdle could be $240, but the main barrier for the bulls is still near the $245 level.

On the downside, the $230 support holds the key in the coming sessions. If there is a successful break and close below the $230 support, it might confirm a bearish break.

In the stated case, the bears are likely to take control and they might aim a test of the $220 pivot level.

Technical Indicators

Hourly MACD The MACD for ETH/USD is slowly moving in the bullish zone.

Hourly RSI The RSI for ETH/USD is currently rising towards the 50 level.

Major Support Level $230

Major Resistance Level $236

Take advantage of the trading opportunities with Plus500

Risk disclaimer: 76.4% of retail CFD accounts lose money.

Originally posted here:

Ethereum Showing Early Signs of Strong Decline, But $230 Is The Key - newsBTC

Three key events defined the Ethereum (ETH)-dominated decentralized finance (DeFi) space during Q2 2020. As mentioned in ConsenSys Q2 2020 DeFi Ecosystem Report, these events included: Bitcoin on Ethereum overtaking BTC on the Lightning Network (LN), three critical security incidents that led to $26 million in losses, and the release of COMP tokens and the yield farming craze.

In May 2020, the amount of Bitcoin on Ethereum (represented by tokens like WBTC which are a tokenized form of BTC) surpassed the amount of BTC on the LN, which is a layer-two scaling solution for the Bitcoin network.

As noted in ConsenSys report, this event was important because Ethereum developers argue that cross-chain interoperability is anti-maximalist, and is the more likely future of blockchain or distributed ledger technology (DLT).

The report added:

The teams enabling the tokenizing of BTC on Ethereum have been embracing this belief (cross-chain operability will improve blockchains), and it is paying off. Also, Ethereums DeFi ecosystem has such a strong gravity that even BTC holders have been finding ways to use it.

Compound, a leading DeFi protocol, introduced its COMP governance token during Q2 2020 (around mid-June 2020). COMP tokens have been distributed to Compound users, including borrowers and lenders, on a daily basis.

As mentioned in the report, the result has been that many DeFi users have been focused on maximizing their COMP yield (now called yield farming) by using various DeFi mechanisms to gain access to capital and then borrowing and lending (simultaneously in many cases by the same user, so basically lending funds to themselves) on Compound.

According to ConsenSys report, this event is important because:

Yield farming took the DeFi ecosystem by storm in the last two weeks of the quarter. Crucial metrics like ETH locked and daily active users soared after being fairly stagnant earlier in the quarter. However, data suggests the frenzy did not bring many new users into DeFi, demonstrating that DeFis innovation must be paired with education and UX before we see the DeFi community grow beyond its current borders.

As confirmed in the report, Uniswap, a leading non-custodial Ethereum-based exchange, Lendf.me, a DeFi protocol, and Bancor, a decentralized liquidity network, all experienced serious security issues during Q2 2020, which led to $26 million in assets being stolen. Notably, most of these assets were returned by the hacker(s).

The importance of these hacks, according to the ConsenSys Codefi team, are that we should realize theyre inevitable in new or experimental technology.

They added:

The DeFi community continues to develop strategies to hedge against [hacks and security breaches,] including: auditing services, security products, and insurance applications. All of this is benefited by the OS nature of DeFi, which allows third parties to monitor DeFi dapps, provide suggestions, and analyze attacks to help protect the entire community in the future.

(The full report, which contains more details about the hacks and other key Ethereum DeFi events, can be accessed here.)

See more here:

Ethereum Dominated DeFi Space Experiences Steady Growth with Increasing Adoption of Compound and Other Lending Protocols: Report - Crowdfund Insider

Sorare, the Ethereum blockchain-based fantasy soccer game that lets users amass cards based on pro players and compete against each other, today announced that it has raised a $4 million seed funding round.

Led by e.ventures, a global venture capital fund, the oversubscribed seed round also features contributions from new investors Partech, Fabric Ventures, and Semantic Ventures, as well as German pro soccer player and World Cup champion Andr Schrrle (most recently of Borussia Dortmund). Existing Sorare investors, which include Seedcamp and ConsenSys (which, for disclosure, funds an editorially independent Decrypt), also participated.

The Paris-based Sorare plans to use the funding to expand its team as it continues to build out the game experience and add further professional clubs and leagues. Currently, the game has players from 76 professional teams around the world, including Juventus and Atletico Madrid, and it recently added players from throughout Major League Soccer.

People are buying $370 billion of collectibles per year. Sorares mission is to make fantasy football global and rewarding with a new kind of collectibles: digital football cards, said Sorare CEO Nicolas Julia, in a release.

We are creating the easiest way for football fans to leverage their football knowledge and play with skin in the game. We are delighted to be backed by an incredible syndicate of investors who will help us drive the adoption of fantasy football forward.

According to Sorare, the firm has signed agreements with more than 90 total clubs to date (including those not yet in the game), and looks to have 150 teams and five leagues signed by the end of 2020.

Sorare launched in March 2019 and has already sold more than $1 million worth of pro player cards, which are owned by users as unique non-fungible token (NFT) assets. The sites trading volume has vaulted from $30,000 last December to $350,000 last month, and the company says its already profitable ahead of this seed funding announcement.

The rest is here:

Ethereum-based fantasy soccer game Sorare nets $4 million in funding - Decrypt

Veteran trader Peter Brandt says XRP rival Stellar Lumens (XLM) has incredible potential and could be the next altcoin to see significant price action.

Stellar Lumens (XLM) is the native cryptocurrency of the Stellar payment network, which aims to connect banks, financial institutions, payment systems and individuals for fast and secure cross-border transactions.

XLM is currently trading at about $0.095 at the time of writing, and it has gained nearly 50% in value since the end of last month. And according to Brandt, the 14th largest cryptocurrency by market cap may just be getting started.

Brandt, who gained fame in crypto circles for calling Bitcoins big collapse in January of 2018, also says he expects Ethereum and most altcoins to outpace BTC in the short term.

Significant breakout in ETH/BTC with target of .03276. Most alts should gain on Bitcoin in near future.

Last week, crypto YouTuber Nicholas Merten said he believed a new altcoin season had officially arrived after the collective market broke a key line of resistance against BTC.

But Binance CEO Changpeng Zhao says traders should not expect the entire altcoin market to rise without reason.

He says the next altcoin season will require coins to have shown real-world progress and sufficient use cases.

Featured Image: Shutterstock/GrandeDuc

Read more here:

XRP Rival Has Incredible Potential, Ethereum and Altcoins Set to Outpace Bitcoin, Says Top Crypto Analyst - The Daily Hodl

Ethereum has embarked on a 4.6% move to the downside this morning after a significant drop in positive sentiment following the Twitter hack that swept across the industry yesterday evening.

Leading figures in politics and entertainment had their accounts hacked before thiefs wrote tweets pleading for followers to send Bitcoin to a wallet.

Losses so far are estimated to be around $250,000, although the details that have also been linked from the breach could be worth far more.

The association of cryptocurrency and the scam is undoubtedly a step backwards in terms of mass adoption as it will put newcomers off from entering the industry.

At the time of writing Ethereum, which is the second largest cryptocurrency by market cap, is trading at $231 after facing a fourth rejection from the $250 level of resistance in the past six weeks.

Its failure to break above the psychological level at $250 may be telling, but its worth noting that Ethereum remains in a more bullish posture against its Bitcoin trading pair as it continues to use the 0.0254BTC level as support.

While price action has been very low on the volatility scale in recent months, it seems as though it is coiling up for a major move in the coming weeks with a news event like the hack potentially acting as a catalyst.

If Bitcoin begins to dive to around $8,830 altcoins like Ethereum will follow with levels of support coming it at around $219 and $199, the latter of which is also in confluence with the daily 200 moving average.

For more news, guides and cryptocurrency analysis, clickhere.

Ethereum was launched byVitalik Buterinon July 30 2015. He was a researcher and programmer working on Bitcoin Magazine and he initially wrote a whitepaper in 2013 describing Ethereum.

Buterin had proposed that Bitcoin needed a scripting language. He decided to develop a new platform with a more general scripting language when he couldnt get buy-in to his proposal.

If you want to find out more information about Ethereum orcryptocurrenciesin general, then use the search box at the top of this page. Please check the below article:

https://coinrivet.com/ethereum-adopts-erc-1155-as-an-official-standard/

As with any investment, it pays to do some homework before you part with your money. The prices of cryptocurrencies are volatile and go up and down quickly. This page is not recommending a particular currency or whether you should invest or not.

You may be interested in our range ofcryptocurrency guidesalong with the latest cryptocurrencynews.

Disclaimer: This is not financial advice.

More here:

Latest Ethereum price and analysis (ETH to USD) - Coin Rivet

Photo by Antonio Janeski on Unsplash

Save for strong developments with specific altcoins such as Cardano and Chainlink, coupled with the news that PayPal may integrate Bitcoin, the crypto industry has been rather quiet over recent months.

Look no further than the price of BTC, which has flatlined over the past two to three months around the low-$9,000s.

But as Chris Burniske, a partner at the crypto-focused venture fund Placeholder Capital, recently reminded his followers, odds are its going to be a crazy fall (Q3/Q4) for the cryptocurrency and blockchain industry.

The following is just a list of a number of important events taking place by the end of the year as compiled by Burniske.

Other events that Burniske himself didnt identify but his followers did include, the launch of optimistic rollup technology on Ethereum, the launch of Bakkts digital asset application for consumers, and a potential public listing of Coinbase shares.

While it may be a few months until these events, investors should expect volatility in the price of Bitcoin and altcoins much sooner.

As noted by cryptocurrency analyst Josh Olszewicz, the Bollinger Bands, an indicator that is often used in analyzing the volatility of a market, has become the tightest since November 2018.

This has been corroborated by Josh Rager, a popular cryptocurrency analyst. He said that the historical volatility index has reached the ever-important 40 level. As Rager explained, every time the index reached this low of a reading, a strong 30% (or more) move followed.

Thats to say, by historical standards, theres a high likelihood Bitcoin will soon see a macro spike or drop that will determine the price action of the cryptocurrency market in the months ahead.

Like what you see? Subscribe for daily updates.

Read more from the original source:

Q4 2020 will be crazy for crypto, says VC: DeFi, Ethereum 2.0, Libra, and more - CryptoSlate

It may sound like a broken record at this point but Chainlink (LINK) has seen extremely strong price performance over the past few months.

At the all-time highs established during Jul. 15s trading session of $8.91 (according to CryptoSlate data), the community-favorite altcoin was up by almost 500 percent from its March capitulation lows around $1.50.

Data suggests that the ongoing move higher is being backed by true buying volume.

After a retracement early this week, LINK surged back during the trading sessions of Jul. 14 and 15, setting new all-time highs above $8.00.

According to Qiao Wang, a prominent cryptocurrency commentator and Bitcoin trader, the surge was marked by a massive influx of volume on leading digital asset exchanges:

Update: Chainlink just surpassed Ethereum in terms of 24-hour trading volume. Link marines have memed it into the single most successful non-base-layer, non-stablecoin cryptoasset ever. This is so incredible.

Qiao Wang cited data from Messari (his former employer), which indicated that of the legitimate exchanges it tracked, 24-hour volume for LINK at a point reached $473 million, 50 percent higher than Ethereums $315 million at the time.

Thats to say, at a point on Jul. 14, Chainlink was the third-most traded cryptocurrency in the entire market, despite it only holding the spot of the eighth-largest cryptocurrency.

Considering the price action and analyses of LINK order books by on-chain analyst Cole Garner, this price action was seemingly skewed on the bid side.

Chainlinks booming market volume isnt the only metric of the cryptocurrency reaching notable levels.

The chart below is from Glassnode, a blockchain analytics firm. It shows that through all the volatility over the past few months, the number of addresses holding LINK has consistently been growing, with few impediments.

Commenting on the chart, CryptoSlates Cole Petersen recently wrote on Twitter:

#Chainlinks steady march higher has been driven by a combination of new investors purchasing tokens and veteran investors increasing their exposure. Think of this as the coal that helps fuel the fire It shows that the multi-year price rise *has been* sustainable.

The influx in LINK adoption comes on the back of a number of partnerships, including those with Nexo, Huobi, and the state-sponsored China Blockchain Service Network.

Chainlink is also benefiting from an influx of press and attention, spurred by the assets loud proponents, new supporters like Morgan Creek Digitals Jason Williams, and other groups and entities.

Theres also been a spike in LINK withdrawals from exchanges, Glassnode recently elaborated. The firm says that this suggests there is a meaningful contingent of LINK holders who intend to start and/or keep hodling for the time being.

These metrics, coupled with other trends, have made certain analysts extremely optimistic about the future of Chainlink. One popular crypto derivatives trader, for instance, commented:

If Bitcoin does not ruin the party, there is no reason why LINK does not continue on into double digits. It would be conservative even, considering we just broke out of a major range. 20$ + LINK would not surprise me at all.

Like what you see? Subscribe for daily updates.

Continue reading here:

After 500% rally, Chainlink (LINK) just passed Ethereum in this crucial metric - CryptoSlate

The number of active Ethereum addresses has more than doubled since the start of 2020. Ethereum's active address count is growing at nearly twice the rate of Bitcoins.

Data from the blockchain analytics website Messari shows that Ethereums active address count has increased by 118% since the turn of the year. Bitcoins active address count, by comparison, increased by 49%.

Why are more people turning to Ethereum than Bitcoin? One obvious answerEthereum is home to the top decentralized finance (DeFi) applications.

The rise of DeFi apps on Ethereum drove the blockchains total number of unique addresses to over 100 million by early June. A July report from Dapp.com estimated that DeFi applications accounted for over 97% of all Dapp volume on Ethereum.

The 100 million figure accounts for every unique address used in a transaction on Ethereumboth senders and recipients. This, obviously, doesnt account for users who use multiple addresses, and so doesnt entirely reflect the growth of Ethereums user base.

However, data from Bitinfocharts tracks transactions that go either from or to unique Ethereum addresses. Seen below, unique active Ethereum addresses rose 160% since January 1, climbing from 208,392, to 542,458 at time of writing.

Meanwhile, Bitcoins unique active address count rose 42% in the same time, climbing from 585,047 on January 1 to 832,751 by July 10. This aligns closely with the data from Messari, and lends credence to the notion that Ethereum is currently experiencing a groundswell of renewed interest and activity.

But while the rise of DeFi has undoubtedly contributed to the rise in unique Ethereum addresses, another Ethereum-based Dapp could also be playing a major role.

As reported by Decrypt on July 5, Forsage, the most popular Dapp on activity by user count, was responsible for guzzling almost 13% of Ethereums gas. Gas is the fuel that runs Ethereum, and is used as a measurement of the price of performing computations on the network.

That means Forsagewhich the Philippines SEC has denounced as an unregistered securityis hogging 13% of the entire Ethereum blockchain. The presence of a Russian Ponzi scheme known as MMM Global has also contributed to the hoarding of Ethereums computational power in recent times. These operations usually see funds transferred from address to address, adding to Ethereums total unique address count.

Today, Forsage accounts for 12.5% of Ethereums gas usage, according to Dune Analytics, while ETH Gas Station places the figure at 15.8%.

Either way, the presence of what Ethereum researcher and developer Philippe Castonguay told Decrypt were inevitable and unstoppable Ponzi schemes should also be considered when accounting for Ethereums increased usage.

Read more from the original source:

Active Ethereum addresses growing twice as fast as Bitcoin - Decrypt

Ethereum incurred a heavy technical rejection last week, after the cryptocurrency failed to move back inside an important rising price channel.

Ethereum price analysis shows that the cryptocurrency must overcome the $250 resistance level to encourage technical buying.

The ETH/USD pair has been trading between the $230 and $240 levels over recent days, following last weeks bearish reversal from just below the $250 level.

Ethereum has been suffering from a lack of a clear price trend, due to Bitcoin being contained within an extremely narrow price range since the halving event.

Ethereum technical analysis shows that a breakout above $250 could prompt a powerful rally towards the $300 level, and possibly higher.

The daily time frame shows that a bullish reversal pattern with substantial upside potential will form if the ETH/USD pair reaches the $300 level.

According to the size of the potential bullish pattern, the ETH/USD pair could rally towards the $480 level if the pattern is activated.

Open a trading account in less than 3 min

Ethereum technical analysis shows that the cryptocurrency only has a short-term bullish bias while the price trades above the $240 level.

The four-hour time frame currently shows that the ETH/USD pair suffered a heavy technical rejection from a rising price channel last week.

According to short-term analysis, the ETH/USD pair needs to move above the $250 level to break back inside the channel.

If the ETH/USD pair recovers back inside the channel, then technical buying interest is likely to increase.

Bulls could attempt to rally the ETH/USD pair towards the top of the channel, around the $300 level.

Ethereum technical analysis shows that the ETH/USD pair could stage a powerful bullish breakout towards the $300 level if the $250 resistance level is broken.

Ready to get started?

Download Capital.com

Go here to see the original:

Ethereum price analysis: watching the $250 resistance level - Capital.com

Ethereum price retreat for second consecutive session and breaks below the 50-day moving average, in a move that puts bears in the drivers seat for the short term.Cryptocurrencies are on headlines after Twitter accounts belonging to the US former vice president Joe Biden, Bill Gates, Elon Musk, and other famous people were hacked.Twitter said that the attack on some of its employees with access to the twitter internal tools. The companys support said that it was a coordinated social engineering attack targeted internal systems and tools.

Kim Kardashian, Warren Buffett, President Obama, Kanye West, Jeff Bezos, and many other famous people, send out a tweet asking for bitcoins promising to return it back double.The tweet said:I am giving back to the community. All Bitcoin sent to the address below will be sent back doubled! If you send $1,000, I will send back $2,000. Only doing this for 30 minutes.

Almost all tweets has the same content, asking for bitcoins in promise to double them. It is not known how much exactly the twitter hackers got away, but there are rumours that the victims of the scammers sent more than $118,000 worth of Bitcoin to just one promoted address.

Ethereum Technical Analysis

Ethereum price is 2.76% lower at $231.58, hitting the lowest level the last ten days as the bears return below the 50-day moving average. The technical picture for the Ethereum cryptocurrency remains bullish for the long term despite the recent pullback, as long as it stays above the 100-day moving average.

On the downside, the initial support for ETHUSD stands at 229.44 the daily low. The next level for Ethereum traders to watch in case of further selling pressure is at 227.33 the low from July 6. Below 227, the next support zone stands at 223.01 the low from July 5.

On the other side, immediate resistance stands at $239.38 the daily high. The next resistance for Ethereum will be met at $241.45 the high from July 15. If Ethereum moves higher, the bulls will be looking for an extension above 245.75 the high from July 13.

Dont miss a beat! Follow us onTelegramandTwitter.

More content

Read the original here:

Ethereum Price Breaks Below the 50-Day SMA, Cryptocurrencies on Headlines after Twitter Hack - InvestingCube

EOS

EOS fell by 1.00% on Friday. Following on from al 1.15% fall on Thursday, EOS ended the day at $2.6259.

A bearish start to the day saw EOS fall from an early morning intraday high $2.6497 to a mid-morning intraday low $2.5752.

EOS fell through the first major support level at $2.5805 before finding support.

Off the back of late support, EOS broke back through to $2.63 levels before easing back.

At the time of writing, EOS was flat at $2.6260.

EOS would need to avoid a fall through the $2.6169 pivot level to support a run at the first major resistance level at $2.6587.

Support from the broader market would be needed, however, for EOS to break out from Fridays high $2.6497.

Barring an extended crypto rally, the first major resistance level and Fridays high $2.6497 would likely cap any upside.

Failure to avoid a fall through the $2.6169 pivot would bring the first major support level at $2.5842 into play.

Barring another extended sell-off, EOS should steer clear of sub-$2.50 levels. The second major support level at $2.5424 should limit any downside.

Major Support Level: $2.5842

Major Resistance Level: $2.6587

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum slipped by 0.33% on Friday. Following on from a 2.07% decline on Thursday, Ethereum ended the day at $241.20.

It was also a bearish start to the day. Ethereum fell from an early morning intraday high $242.12 to mid-morning intraday low $235.56.

The pullback saw Ethereum fall through the first major support level at $236.80 before finding support. Late in the day, Ethereum moved back through to $241 levels to limit the loss on the day.

At the time of writing, Ethereum was down by 0.04% to $241.10. A mixed start to the day saw Ethereum rise to an early morning high $241.58 before falling to a low $241.05.

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

Ethereum would need to avoid a fall through the $239.60 pivot to support a run at the first major resistance level at $243.69.

Support from the broader market would be needed, however, for Ethereum to break out from Fridays high $242.12.

Barring another extended crypto rally, the first major resistance level and Fridays high should cap any upside.

Story continues

Failure to avoid a fall through the $239.60 pivot would bring the first major support level at $237.13 into play.

Barring another extended sell-off, Ethereum should continue to steer clear of sub-$230 levels. The second major support level at $233.07 should limit any downside.

Major Support Level: $237.13

Major Resistance Level: $243.69

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Ripples XRP slid by 1.69% on Friday. Following on from a 1.13% decline on Thursday, Ripples XRP ended the day at $0.19941.

A bearish start saw Ripples XRP fall from an early morning intraday high $0.20286 to an early morning intraday low $0.19238.

Ripples XRP fell through the first major support level at $0.1960 before finding support. Ripples XRP rallied moved back through to an afternoon high $0.19995 before easing back.

At the time of writing, Ripples XRP was down by 0.14% to $0.19914. A bearish start to the day saw Ripples XRP fall from an early morning high $0.19957 to a low $0.19912.

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

Ripples XRP will need to avoid a fall through the $0.1980 pivot to support a run at the first major resistance level at $0.2041.

Support from the broader market would be needed, however, for Ripples XRP to break out from Fridays high $0.20286.

Barring a broad-based crypto rally, the first major resistance level and Fridays high $0.20286 should cap any upside.

In the event of a breakout, Ripples XRP should test the second major resistance level at $0.2087 before any pullback.

Failure to avoid a fall through the $0.1980 pivot would bring the first major support level at $0.1936 into play.

Barring another extended crypto sell-off, Ripples XRP should avoid the second major support level sits at $0.1877.

Major Support Level: $0.1936

Major Resistance Level: $0.2041

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

See original here:

EOS, Ethereum and Ripples XRP Daily Tech Analysis July 11th, 2020 - Yahoo Finance

Disclaimer: The following price prediction should materialize over the next two weeks.

On May 28th, when Ethereum surged by 8.75 percent, the 2nd largest digital asset breached above the resistance of $226. Now over the past five weeks, the asset has been able to maintain consolidation between $227 and $250 albeit a minor decline on 24th June, when the asset dropped below the aforementioned range for 5 days. However, things might be taking a drastic turn in the markets as a long-term pattern seems likely to complete formation in the near future.

12-hour chart

According to the analysis above, Ethereums valuation has been oscillating within the trend lines of an ascending broadening wedge since 28th June. Prominent higher highs were observed on $232 and $247, where higher lows were seen at $216, $224 and $236. With the price hovering near the lower trendline of the pattern after a partial rise on 13th July, the possibility of a pullback looms large in the charts.

Hence, a re-test at $226 might be evident over the next week or two. A higher bearish momentum may take the valuation all the way down to $216. Relative Strength Index or RSI remains on a decline which indicated that selling pressure is taking charge. However, the long-term pattern which may dictate the price direction over the next month is pictured below.

1-day chart

Since the end of June, Ethereums valuation can be seen testing the resistance at $250 for a total of three times. Considering the asset declines down to $216 support, a triple-top pattern will be confirmed which may have major bearish implications. The inability to breach resistance at $250 would discourage buying pressure if the valuation drops down to $216. With higher trading volume evident in the current range, the likelihood of a confirmed triple-top is yet to be concrete but the possibility remains.

However, the fact the 200-moving average continues to act as strong support should keep the assets hope alive to undergo a rally after its current correction period is over but still, a strong pullback is not out of the picture just yet.

Conclusion

Ethereum will possibly re-test $226 by the end of July or by the third week of the month.

See more here:

Ethereum Long-Term Price Analysis: 14 July - AMBCrypto