EOS

EOS rose by 1.94% on Thursday. Reversing a 0.67% fall from Wednesday, EOS ended the day at $3.8367.

A bearish start to the day saw EOS slide from an early high $3.7961 to an early morning intraday low $3.5216.

EOS fell through the first major support level at $3.5756 before rallying to a late afternoon intraday high $3.9485.

Coming up against the first major resistance level at $3.9469, EOS slipped back to $3.8 levels to limit the upside on the day.

At the time of writing, EOS was down by 1.49% to $3.7797. A bearish start to the day saw EOS fall from an early morning high $3.8463 to a low $3.7536.

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

EOS would need to move back through to $3.80 levels to support a run at the first major resistance level at $4.0163.

Support from the broader market would be needed for EOS to breakout from Thursdays high $3.9485.

Barring a broad-based crypto rebound, however, EOS would likely come up short of $3.90 levels on the day.

In the event of a rebound, Thursdays high $3.9485 and first major resistance level would likely cap any upside.

Failure to move back through to $3.80 levels would see EOS struggle throughout the day.

A fall back through the morning low $3.7536 would bring the first major support level at $3.5894 into play before any recovery.

Barring an extended sell-off, however, EOS should steer clear of the second major support level at $3.3420.

Major Support Level: $3.5894

Major Resistance Level: $4.0163

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum fell by 1.41% on Thursday. Reversing a 0.33% gain from Wednesday, Ethereum ended the day at $163.93.

Tracking the broader market, Ethereum fell from an early morning intraday high $167.28 to an early intraday low $158.17.

Steering clear of the major resistance levels, Ethereum fell through the first major support level at $159.55.

Finding support through the day, Ethereum recovered to $165 levels before sliding back into the red.

At the time of writing, Ethereum was down by 0.39% to $163.29. A mixed start to the day saw Ethereum strike an early morning high $164.87 before falling to a low $162.01.

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

Story continues

Ethereum would need to move back through to $164 levels to support a run at the first major resistance level at $168.08.

Support from the broader market would be needed for Ethereum to breakthrough Thursdays high $167.28.

Barring a broad-based crypto rebound, however, resistance at $167 would likely cap any upside.

Failure to move back through to $164 levels could see Ethereum spend the day in the red.

A fall back through the morning low $162.01 would bring the first major support level at $158.97 into play.

Barring an extended crypto sell-off, however, Ethereum should steer of sub-$158 levels on the day.

Major Support Level: $158.97

Major Resistance Level: $168.08

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Ripples XRP fell by 1.99% on Thursday. Following on from a 0.06% decline on Wednesday, Ripples XRP ended the day at $0.22888.

A bearish start to the day saw Ripples XRP slide from an intraday high $0.23492 to an early morning intraday low $0.22120.

Steering clear of the major resistance levels, Ripples XRP fell through the first major support level at $0.2251.

Finding support through the remainder of the day, Ripples XRP recovered to $0.23 levels before easing back into the deep red.

At the time of writing, Ripples XRP was down by 0.63% to $0.22744. A mixed start to the day saw Ripples XRP rise to an early morning high $0.22937 before falling to a low $0.22633.

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

Ripples XRP will need to move back through to $0.2285 levels to support a run at the first major resistance level at $0.2355.

Support from the broader market would be needed, however, for Ripples XRP to break back through to $0.23 levels.

Barring a broad-based crypto rebound, resistance at $0.23 would likely leave Ripples XRP short of the first major resistance level at $0.2355.

In the event of a rebound, the first major resistance level and Thursdays high $0.23492 would likely cap any upside.

Failure to move back through to $0.2285 levels could see Ripples XRP fall further back.

A fall back through the morning low $0.22633 would bring the first major support level at $0.2217 into play.

Barring a crypto meltdown, however, Ripples XRP should steer of the second major support level at $0.2146.

Major Support Level: $0.2217

Major Resistance Level: $0.2355

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

Link:

EOS, Ethereum and Ripples XRP Daily Tech Analysis 17/01/20 - Yahoo Finance

EOS

EOS fell by 0.67% on Wednesday. Following a 22.09% rally from Tuesday, EOS ended the day at $3.7647.

A mixed start to the day saw EOS strike an early morning intraday high $3.9400 before hitting reverse.

Falling short of the first major resistance level at $4.1995, EOS fell to a mid-morning intraday low $3.5687.

Steering clear of the first major support level at $3.2453, EOS recovered to $3.8 levels before falling back to $3.6 levels.

Finding support late, however, EOS moved back through to $3.7 levels to limit the loss on the day.

At the time of writing, EOS was down by 4.79% to $3.5845. A bearish start to the day saw EOS fall from an early morning high $3.7961 to a low $3.5216.

Steering clear of the major resistance levels, EOS fell through the first major support level at $3.5756.

EOS would need to move back through to $3.76 levels to support a run at the first major resistance level at $3.9469.

Support from the broader market would be needed for EOS to move back through this mornings high $3.7961.

Barring another broad-based crypto rebound, however, EOS would likely come up short of the morning high.

In the event of a rebound, Wednesdays high $3.94 and first major resistance level would likely cap any upside.

Failure to move back through to $3.76 levels would see EOS struggle throughout the day.

A fall back through the first major support level at $3.5756 would bring sub-$3.5 levels into play before any recovery.

Barring an extended sell-off, however, EOS should steer clear of the second major support level at $3.3865.

Major Support Level: $3.5756

Major Resistance Level: $3.9469

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum rose by 0.33% on Wednesday. Following on from a 15.51% rally on Tuesday, Ethereum ended the day at $166.29.

A mixed start to the day saw Ethereum strike an early morning intraday high $172.18 before hitting reverse. Falling short of the first major resistance level at $176.56, Ethereum fell to a mid-morning intraday low $159.13.

Steering clear of the first major resistance level at $149.20, Ethereum recovered to $168 levels before a fall back to an afternoon low $160.35.

Finding late support, however, Ethereum moved back through to $166 levels and into the green.

At the time of writing, Ethereum was down by 3.37% to $160.68. A bearish start to the day saw Ethereum slide from an early morning high $167.28 to a low $158.17.

Steering clear of the major resistance levels, Ethereum fell through the first major support level at $159.55.

Story continues

Ethereum would need to move back through to $166 levels to support a run at the first major resistance level at $172.60.

Support from the broader market would be needed for Ethereum to break through the morning high $167.28.

Barring a broad-based crypto rebound, however, resistance at $170 would likely cap any upside.

Failure to move back through to $166 levels could see Ethereum spend the day in the red.

A fall back through the first major support level at $159.55 would bring the second major support level at $152.82 into play.

Barring an extended crypto sell-off, however, Ethereum should avoid a return to the morning low $158.17.

Major Support Level: $159.55

Major Resistance Level: $172.60

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Ripples XRP fell by 0.06% on Wednesday. Following a 10.68% rally from Tuesday, Ripples XRP ended the day at $0.23360.

Tracking the broader market, Ripples XRP fell from an early morning high $0.24233 to a mid-morning intraday low $0.22546.

Steering clear of the major support and resistance levels, Ripples XRP bounced back to an early afternoon intraday high $0.24285.

Falling short of the first major resistance level at $0.2484, Ripples XRP fell back to $0.23 levels to end the day in the red.

At the time of writing, Ripples XRP was down by 4.41% to $0.2233. A bearish start to the day saw Ripples XRP fall from an early morning high $0.23492 to a low $0.22120.

Steering clear of the major resistance levels, Ripples XRP fell through the first major support level at $0.2251.

Ripples XRP will need to move back through to $0.2340 levels to support a run at the first major resistance level at $0.2425.

Support from the broader market would be needed, however, for Ripples XRP to break back through to $0.23 levels.

Barring a broad-based crypto rebound, resistance at $0.23 would likely leave Ripples XRP short of the first major resistance level at $0.2425.

In the event of a rebound, Wednesdays high $0.24285 and first major resistance level would likely cap any upside.

Failure to move back through to $0.23 levels could see Ripples XRP fall further back.

A fall back through the first major support level at $0.2251 would bring sub-$0.22 levels into play.

Barring a crypto meltdown, however, Ripples XRP should steer of the second major support level at $0.2166

Major Support Level: $0.2251

Major Resistance Level: $0.2425

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

Link:

EOS, Ethereum and Ripples XRP Daily Tech Analysis 16/01/20 - Yahoo Finance

Ethereum rallied towards $170 and bitcoin jumped towards $9,000 before starting a downside correction. However, dips in ETH price remains supported near $158 and $155.

Yesterday, we saw a strong rise in Ethereum above the $160 resistance and bitcoin above $8,500 against the US Dollar. ETH price traded to a new 2020 high near $172 before it faced a strong selling interest.

Later, there was a downside correction and the price declined below the $165 support. Moreover, there was a break below the 23.6% Fib retracement level of the upward move from the $143 swing low to $172 high.

The price even broke the $162 support and tested the $160 region. An initial support on the downside is near the $158 level. It coincides with the 50% Fib retracement level of the upward move from the $143 swing low to $172 high.

More importantly, there is a major declining channel forming with resistance near $165 on the hourly chart of ETH/USD. Therefore, there are chances that Ethereum might follow the declining channel and slide towards the $158 and $155 support levels.

Ethereum Price

The main support is now near $155 and the 100 hourly simple moving average. Besides, the 61.8% Fib retracement level of the upward move from the $143 swing low to $172 high is near $155.

As mentioned, the $155 area is a crucial support. As long as ETH price is above the $155 level, the bulls are likely to remain in action. On the upside, an initial resistance is near the $164 level.

The main resistance is near the $165 zone and the channel upper trend line. A clear break above the channel resistance is likely to set the pace for more gains in the coming sessions. The next hurdles are near $170-$172, above which Ethereum is likely to climb towards the $180 zone.

Technical Indicators

Hourly MACD The MACD for ETH/USD is slowly gaining momentum in the bearish zone.

Hourly RSI The RSI for ETH/USD is currently below the 50 level, with a few negative signs.

Major Support Level $155

Major Resistance Level $165

Read more:

Here Is Why Dips In Ethereum Could Be A Trap By The Bulls - newsBTC

Ethereum is up more than 15% and it broke the key $150 and $160 hurdles versus the US Dollar, while bitcoin jumped above $8,800. However, the current price action suggests ETH could correct towards $160 before it continues higher.

Yesterday, we discussed the chances of an upside break in Ethereum above the $148 resistance against the US Dollar. ETH price did climb above the $148 and $150 resistance levels, opening the doors for a sharp rise.

As a result, the bulls tool control and the price rallied more than 15%. It broke the $160 and $165 resistance levels. Moreover, there was a close above the $160 level and the 100 hourly simple moving average.

A high was formed near the $171 level and Ethereum seems to be showing signs of a downside correction. It is already below the 23.6% Fib retracement level of the recent rally from the $153 low to $171 high.

The first key support on the downside is near the $162 level. Besides, the 50% Fib retracement level of the recent rally from the $153 low to $171 high is also near the $162 level.

Ethereum Price

More importantly, there is a key bullish trend line forming with support near $162 on the hourly chart of ETH/USD. Therefore, dips in Ethereum remains well supported near the $162 and $160 levels.

There could be a downside correction towards $160 in the short term, but it does not mean the current uptrend is over. After the price completes a downside correction, it is likely to bounce back above $165 and $170.

The main resistance is near the $170-$172 zone. A clear break above the $172 zone might set the pace for more upsides towards the $180 pivot and resistance area, especially if bitcoin surges above the $9,000 level.

Technical Indicators

Hourly MACD The MACD for ETH/USD is showing signs of a downside correction in the bullish zone.

Hourly RSI The RSI for ETH/USD is currently correcting lower from the overbought zone.

Major Support Level $162

Major Resistance Level $172

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Ethereum Rallies 15% But Here Is Why It Could Correct In Short-Term - newsBTC

Source: iStock/jpgfactory

Ethereum 2.0 will launch by the end of 2020, estimates Andrew Keys, a managing partner at investment firm Darma Capital and one of the first employees at Ethereum application developer ConsenSys. Meanwhile, the Ethereum 2.0 Phase 0 that will be the base for the multi-client testnet is already out.

Ethereum's major network upgrade, Ethereum 2.0 (a.k.a. Serenity), should be rolled out in phases and will bring with it sharding, proof-of-stake (PoS), and a new virtual machine among other things

Proof of Stake Ethereum exists. Its alive! The roadmap to Serenity is in full effect. 2020 will see Ethereum move stridently beyond Phase 0 of Ethereum 2.0, onto Phase 1 and the launch of shard chains. Then, its game on, writes Keys in his blog post.

As a reminder, the network went through Istanbul as its last upgrade as Ethereum 1.0, with the unplanned addition of the Muir Glacier update. Istanbul itself changed the underlying Ethereum protocol and created new rules to improve the system, with six relevant Ethereum Improvement Proposals (EIPs) chosen to be implemented. Ethereum is expected to launch phase zero of Serenity, which will trigger the switch from the proof-of-work (PoW) consensus algorithm, used also by Bitcoin (BTC), to PoS (e.g., used by Tezos). Phase zero will bring forth Beacon Chain, followed by Shard Chains and State Execution in the subsequent phases.

Keys says that Ethereum co-founder, Vitalik Buterin, already released a block explorer for the Beacon Chain, which currently tracks a testnet version, and the process is rapidly moving towards Ethereum 2.0, also known as Serenity. With the rollout of the Istanbul hard fork, Ethereum is on its way towards 2.0 levels of scalability at layer one, Keys says.

That said, though we know that Istanbul was the last step to phase zero, the date for this next phase is not clear and has been postponed from the end of 2019 already, at least according to the roadmap provided by ConsenSys. In October, Buterin said it was months away. In December, Ethereum researcher Justin Drake suggested the fifth anniversary of Ethereum as the date (July of 2020), but the comments were not in favor of that suggestion, with people expecting other details to be worked out before setting a date, and others not wanting to delay the upgrade for an anniversary of any sorts.

Nonetheless, while we await the exact date to be set, Eric Conner, a product researcher at blockchain startup Gnosis shared that Phase 0 spec v0.10.0 of Ethereum 2.0 has been released.

The release includes EIP 1564, concerned with reorganization of files/directories, grouping files into fork-based directories. Additional changes include minor optimizations and cleanups, the release states. It adds: v0.10.0 marks a stable target for Phase 0 for multi-client testnets and security reviews. We expect some revisions in February/March pending the results from each, writes Danny Ryan, Ethereum 2.0 coordinator.

Watch the latest reports by Block TV.

Furthermore, Ben Edgington, researcher at ConsenSys, said in a note that this release is the basis for both testnets and an audit, while the major, breaking, change in v0.10.0 is the long-anticipated update the BLS signature implementation thats now being standardised.

Edgington also called Vitalik Butterins suggestion for accelerating the transition of the ETH 1.0 chain into the ETH 2.0 chain the most potentially impactful proposal of the last couple of weeks.

There are a great number of other features that will be introduced or upgraded as phase 0 rolls out. In his latest blog post, Ethereum researcher Carl Beekhuizen explains rewards, punishments, and slashings for validators. Slashing a validator means destroying a portion of their stake if they act provably destructive. Slashing has two purposes, he says: to make it prohibitively expensive to attack Ethereum 2.0, and to stop validators from being lazy by checking that they actually perform their duties. The two major ways a validator can behave slashably maliciously within phase 0 are double voting and surround voting, as described in the original paper by Vitalik Buterin and Virgil Griffith. Additional rules are added in later phases to ensure that validators store and make available the shard data they sign.

On the other hand, there are tree classes of rewards: whistleblower, proposer, and attester. Finally, there are two common approaches for paying validators in PoS systems: fixed rewards and fixed inflation, says Beekhuizen.

Meanwhile, ETH is currently (14:15 UTC) trading at c. USD 143. The price dropped by 1% in a day, trimming its weekly gains to 1.5%.

Also, check out the discussion with Vitalik Buterin and Joe Lubin on the future of Ethereum with eToro's Yoni Assia at Ethereal Tel Aviv 2019.

Read the original post:

Will Ethereum Reach Serenity This Year? - Cryptonews

EOS

EOS rallied by 22.09% on Tuesday. Reversing a 3.16% slide from Monday with interest, EOS ended the day at $3.7923.

A particularly bullish day saw EOS rally from an early morning intraday low $3.1054 to an afternoon intraday high $4.0596.

EOS broke through the major resistance levels to visit $4.00 levels for the 1st time since late September.

In spite of a late pullback to sub-$4.00 levels, EOS held above the third major resistance level at $3.4188 through to the day end.

At the time of writing, EOS was down by 0.27% to $3.7821. A mixed start to the day saw EOS fall to an early morning low $3.7300 before striking a high $3.9400.

EOS left the major support and resistance untested before falling back into the red.

EOS would need to move back through the morning high $3.9400 to support a run at the first major resistance level at $4.1995.

Support from the broader market would be needed, however, for EOS to breakout from Tuesdays high $4.0596.

Barring another broad-based crypto rally, the first major resistance at $4.1995 would likely cap any upside on the day.

Failure to move back through the morning highs could see EOS fall deeper into the red.

A fall back through the morning low to sub-$3.65 levels would bring the first major support level at $3.2453 into play.

Barring a crypto meltdown, however, EOS should steer clear of Tuesdays low $3.1054.

Major Support Level: $3.2453

Major Resistance Level: $4.1995

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum rallied by 15.51% on Tuesday. Reversing a 2.07% fall from Monday, Ethereum ended the day at $165.76.

Bullish through the day, Ethereum rallied from an early morning intraday low $143.45 to a late afternoon intraday high $170.83.

Ethereum broke through the major resistance levels to hit $170 levels for the 1st time since September.

In spite of a late pullback to $160 levels, Ethereum held above the third major resistance level at $154.00.

At the time of writing, Ethereum was down by 1.62% to $163.08. A mixed start to the day saw Ethereum rise to an early morning high $172.18 before falling to a low $162.60.

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

Story continues

Ethereum would need to move back through to $170 levels to support a run at the first major resistance level at $176.58.

Support from the broader market would be needed for Ethereum to break through the morning high $172.18.

Barring a broad-based crypto rebound, however, the first major resistance level at $176.58 would likely cap any upside.

Failure to move back through to $170 levels could see Ethereum fall deeper into the red.

A fall back through to sub-$160 levels would bring the first major support level at $149.20 into play.

Barring a crypto sell-off, however, Ethereum should steer clear of sub-$150 levels.

Major Support Level: $149.20

Major Resistance Level: $176.58

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Ripples XRP rallied by 10.68 % on Tuesday. Reversing a 1.84% decline from Monday, Ripples XRP ended the day at $0.23375.

Tracking the broader market, Ripples XRP rallied from an early morning intraday low $0.21113 to a late intraday high $0.24447.

Ripples XRP broke through the days major resistance levels to visit $0.24 levels for the first time since 22nd November.

In spite of a late pullback to $0.23 levels, Ripples XRP held above the third major resistance level at $0.2238.

At the time of writing, Ripples XRP was down by 0.16% to $0.23337. A mixed start to the day saw Ripples XRP fall to an early morning low $0.23000 before striking a high $0.24233.

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

Ripples XRP will need to move back through to $0.24 levels to support a run at the first major resistance level at $0.2484.

Support from the broader market would be needed, however, for Ripples XRP to break out from the morning high $0.24233.

Barring a broad-based crypto rebound, the first major resistance level at $0.2484 would likely limit any upside.

Failure to move back through to $0.24 levels could see Ripples XRP fall further back.

A fall back to sub-$0.23 levels would bring the first major support level at $0.2151 into play.

Barring a crypto meltdown, however, Ripples XRP should steer of sub-$0.23 levels on the day.

Major Support Level: $0.2151

Major Resistance Level: $0.2484

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:

EOS, Ethereum and Ripples XRP Daily Tech Analysis 15/01/20 - Yahoo Finance

Ethereum defied gravity and trading with a bullish bias above $135 against the US Dollar, similar to bitcoin. ETH price is likely to continue higher above the $150 level.

This past week, there were bullish moves in Ethereum above $132 against the US Dollar. ETH rallied towards the $135 level, later corrected lower, and now finally trading higher with a positive bias above the $135 level.

A new yearly high was formed near $148 and the price started a downside correction. There was a break below the 23.6% Fib retracement level of the upward move from the $135 low to $148 high.

However, the decline was protected by the $140 area and the price is now well above the 100 simple moving average (4-hours). Moreover, the 50% Fib retracement level of the upward move from the $135 low to $148 high is acting as a strong support.

More importantly, there is a key bullish trend line forming with support near $140 on the 4-hours chart of ETH/USD. If there is a downside break below the trend line below $138, there is a risk of a strong decline.

Ethereum Price

On the upside, there are key hurdles near the $145 and $148 levels. A clear break above the $148 level could set the pace for a bullish break above the $150 level in the coming sessions.

The main support on the downside is near the $137 level and the 100 SMA. If there is a downside break below the $137 and $135 levels, there is a risk of a clear bearish break.

Therefore, a successful break and close below the $135 level might set the pace for a fresh decline. The next key support is near $130, below which it may perhaps open the doors for a push towards the $125 level.

The above chart indicates that Ethereum price is showing a lot of positive signs above $135 and it likely to surge above the $150 level.

Technical Indicators

4 hours MACD The MACD for ETH/USD is gaining strength in the bullish zone.

4 hours RSI The RSI for ETH/USD is currently well above the 50 level.

Major Support Level $135

Major Resistance Level $148

See original here:

Ethereum Defies Gravity and Likely To Surge Past $150 - newsBTC

EOS

EOS surged by 8.28% on Friday. Reversing a 0.96% fall from Thursday, EOS ended the day at $2.9843.

A bearish start to the day saw EOS slide to a late morning intraday low $2.6526 before making a move.

EOS fell through the first major support level at $2.6949 before striking a late intraday high $3.0030.

The rally saw EOS break through the major resistance levels to hit $3.00 levels for the 1st time since late November.

In spite of a late pullback, EOS held above the third major resistance level at $2.9479 at the day end.

At the time of writing, EOS was down by 0.83% to $2.9484. A mixed start to the day saw EOS strike an early high $3.0222 before falling to a low $2.9301.

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

EOS would need to move back through the morning high $3.0222 to support a run at the first major resistance level at $3.0999.

Support from the broader market would be needed, however, for EOS to break out from $3.0000.

Barring an extended broad-based crypto rally, the first major resistance level, and Fridays high would likely limit any upside.

Failure to move back through the morning high $3.0222 levels could see EOS fall deeper into the red.

A fall through the morning low to sub-$2.88 levels would bring the first major support level at $2.7495 into play.

Barring a crypto meltdown, however, EOS should steer clear of the second major support level at $2.5258.

Major Support Level: $2.7495

Major Resistance Level: $3.0999

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum rallied by 5.08% on Friday. Reversing a 2.08% slide from Thursday, Ethereum ended the day at $144.72.

Tracking the broader market, Ethereum fell to an early morning intraday low $135.26 before striking a late intraday high $145.81.

Steering clear of the major support levels, Ethereum broke through the first major resistance level at $141.02 and second major resistance level at $144.33.

A late pullback to $141 levels saw Ethereum fall through the second major resistance level before a final hour breakout.

At the time of writing, Ethereum was down by 1.62% to $142.37. A mixed start to the day saw Ethereum rise to an early morning high $145.25 before falling to a low $142.26.

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

Story continues

Ethereum would need to move through to the morning high $145.25 to support a run at the first major resistance level at $148.60.

Support from the broader market would be needed for Ethereum to break out from Fridays high $145.81.

Barring a broad-based crypto rally, however, resistance at $145 levels would likely limit any upside.

Failure to move through the morning high could see Ethereum struggle throughout the day.

A fall through the morning low to sub-$142 levels would bring the first major support level at $138.05 into play.

Barring a crypto sell-off, however, Ethereum should steer well clear of Fridays low $135.26.

Major Support Level: $138.05

Major Resistance Level: $148.60

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Ripples XRP rose by 4.18% on Friday. Reversing a 1.66% fall from Thursday, Ripples XRP ended the day at $0.21228.

A relatively bearish start to the day saw Ripples XRP fall to an early morning intraday low $0.20050 before finding support.

Finding support at the first major support level at $0.20040, Ripples XRP rallied to a late intraday high $0.21271.

Ripples XRP broke through the first major resistance level at $0.20790 and the second major resistance level at $0.2121.

While easing back from the day high, Ripples XRP held above the second major resistance level at the day end.

At the time of writing, Ripples XRP was down by 1.11% to $0.20992. A mixed start to the day saw Ripples XRP rise to an early morning high $0.21430 before falling to a low $0.20912.

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

Ripples XRP will need to move back through to $0.21 levels to support a run at the first major resistance level at $0.21650.

Support from the broader market would be needed, however, for Ripples XRP to break out from the morning high $0.21430.

Barring a broad-based crypto rebound, the first major resistance level at $0.21650 would likely limit any upside.

Failure to move back through to $0.2100 levels could see Ripples XRP slide deeper into the red.

A fall through the morning low $0.20912 to sub-$0.2080 levels would bring the first major support level at $0.20430 into play.

Barring a crypto meltdown, however, Ripples XRP should steer of the second major support level at $0.19630.

Major Support Level: $0.2043

Major Resistance Level: $0.2165

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

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EOS, Ethereum and Ripples XRP Daily Tech Analysis 11/01/20 - Yahoo Finance

In a recent Eth2.0 Implementation Call 31, Ethereum's lead developers agreed on aswitch between Ethereum (ETH) 1.0 and Ethereum (ETH) 2.0. Initially,this issue hadnot been on the agenda but the discussion started towards the end of the call.

The question of network status transition without sacrificing the security and consensus integrity iscrucialto the Ethereum (ETH) 2.0 progress. It's obvious that during the interim period, both Ethereum (ETH) 1.0 and Ethereum (ETH) 2.0 rules should be followed by validators.

In December 2019, Vitalik Buterin of the Ethereum Foundation suggested that this could be achieved through the network of 'friendly validators'.

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'Stateless Clients' procedure will allow validators to avoid downloading both ETH1 and ETH2 nodes. According to Mr Buterin, the second one can now be operated using machines with limited resources.

Right now we've worked hard to make the total eth2 state size under 1 GB so that you can do everything in RAM and so that the requirements can be lower than the eth1 system today.

As a result, the initial stage of Ethereum 2.0 will be launched without stateless miners and WebAssembly.

The new release of Ethereum 2.0 specifications (network operational rules) has also been delivered.This release (v 0.10.0)contains a deep and much-needed reorganization of files/directories.

As explained by Danny Ryan, Ethereum (ETH) 2.0 team lead:

New release marks a stable target for Phase 0 for multi-client testnets and security reviews.

Let's try to predict, when Ethereum (ETH) 2.0 will be shipped? Tell us in The Comments!

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Ethereum (ETH) Will Switch To ETH 2.0: Stateless Clients Concept Officially Approved - U.Today

Sablier, a payment protocol, allows anyone to send continuously streamed payments around the world by leveraging the functionality of Ethereum. In the latest, users can now stream interest-bearing tokens, like CHAI.

On Jan. 16, Sablier announced the integration of synthetic USD (sUSD), wrapped BTC, wrapped ETH, and CHAI as streamable cryptocurrencies over the dApp.

Earning income in sUSD, in particular, allows for the seamless exchange of the tokens for other synthetic assets like sXAU (gold). Effectively, users are getting paid in a currency that can be easily invested in other assets.

The integration of CHAI is especially unique because it allows users to receive their income in an interest-earning asset. It is akin to earning income in United States government treasury bills.

For the uninitiated, CHAI is DAI wrapped in Maker Protocols Dai Savings Rate (DSR). Instead of locking funds in DSR, one can choose to hold it in CHAI and earn interest without locking up a portion of their funds.

The CHAI token balance stays constant to reflect the amount of DAI deposited, while the price of CHAI increases to reflect the value accrued from interest.

CHAI can be converted back to DAI using their native interface or changed to ETH using Uniswap. This particular offering could gain more traction if CHAI liquidity deepens on DEXes like Kyber and Radar Relay.

Payment applications in crypto are plentiful, but very few cater to a wide range of use cases.

Most of these payment protocols focus on enabling one-time payments in a fast and cost-effective manner. Sablier, built by Paul Razvan Berg, is solving a pain point that exists in the payment industry as a whole not just crypto payments.

A startup thats looking to hire employees can now guarantee monetary security by streaming their salary or wage over a certain period of time. For instance, a small company having a tough time convincing prospective employees of their ability to fulfill their financial obligations can guarantee payments by sending them money second-by-second.

Instead of a one-time payment of, say, 1,000 DAI at the end of the month, the employee will earn 1.38 DAI per hour or 0.231 DAI per minute.

Contractors and freelancers who work on a project-to-project basis will have greater confidence that they will receive their payment on time.

Streaming payments has a plethora of use cases apart from guaranteeing employees timely payments. One could theoretically pay rent to their landlord or repay a loan by deploying a money stream on Sablier.

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Ethereum Project lets Startups Stream Salaries in Crypto - Crypto Briefing

An Ethereum Classic (ETC) development organization is warning the public against a possible scam that is attempting to exploit users the day after the altcoin completed its hard fork.

In a tweet posted by the ETC Cooperative on Jan. 13, they ousted an alleged scam calling itself EAgharta in resonance with ETCs bona fide Agharta hard fork:

Needless to say, EAgharta is a complete scam, probably from the same people who did something very similar at Atlantis. Stay away. ETC Agharta did not result in new Agharta coins. They are just trying to scam you.

On Jan. 12, Ethereum Classic had activated the Agharta hard fork, which aims to improve interoperability with protocol changes introduced to its blockchain via its Constantinople and St. Petersburg upgrades last year.

The occasion of the hard fork appears to have spurred the malign actors behind EAgharta to attempt to exploit the event and peddle fraudulent proprietary Agharta coins. New tokens have, as ETC Cooperative emphasizes, not in fact been created as part of the networks hard fork.

To warn users, ETC Cooperative posted a screenshot of EAghartas Twitter handle and its solicitations to users to safely claim Ethereum Classic #Agharta (ETC Hard Fork).

The Twitter handle links to the schemes site and its Trumpian byline of Agharta Hardfork - make Ethereum Classic great again!

Once users enter the site, it prompts them to enter and save a password in order to ostensibly create a new, dedicated wallet. Etcagharta.org maintains it does not hold users keys on their behalf:

We cannot access accounts, recover keys, reset passwords, nor reverse transactions. Protect your keys & always check that you are on correct URL [sic.]

The ETC Cooperative is an organization that oversees and deploys funds from Grayscale Investments for the development of the ETC network. The cooperatives spending policy supports the development of the Ethereum Classic network, infrastructure and related applications.

Ethereum Classics name itself derives from the highly contentious hard forking of the Ethereum Network in 2016 in the wake of the DAO scandal.

Classic refers to the fact that the altcoin runs on the original version of the blockchain before the time of the fork and was added to the cryptocurrencys name to distinguish it from its ultimately more famous successor, Ether (ETH).

With Ether currently ranked largest altcoin by market cap, Ethereum Classic lags some way behind in 19th place. It is trading at $5.42, seeing virtually no change over the 24 hours before press time.

Excerpt from:

Ethereum Classic Cooperative Warns Public Against Apparent Hard Fork Scam - Cointelegraph

Hello Hard Forkers, welcome to another Moonday Morning where we wrap-up the weekends hot cryptocurrency and blockchain headlines.

Take a look.

A small but illegal Bitcoin mine has been located and dismantled in the Ukraine, according to a Facebook post published by an account which appears to belong to the Chairman of Ukraines state railway. Late last year, Yevhen Kravtsov said the farm was located in a railway building in Ternopil in the west of Ukraine.

The farm allegedly installed more than 100 cryptocurrency miners which were attached to the railway buildings power supply in such a way they bypassed the electricity meter. Kravtsov said the people running the mine had saved themselves more than $40,000 by doing so.

Virgil Griffith, the Ethereum ETH developer that allegedly travelled to North Korea to give a talk on how cryptocurrency could be used to evade sanctions, has been released on a $1 million bond, AP reports. The bail has been granted despite prosecutors fears that Griffith may flee the country before his trial

The news comes shortly after Griffith was formally indicted by US authorities late last week. The developer was placed on house arrest, with an electronic tag, at his parents home.

The Reserve Bank of Australia (RBA) is skeptical whether Libra will make inroads in the country at all,ZDNet writes. According to the report, the RBA believes its still unclear if there will be strong demand for stablecoins, and cryptocurrency-based products like Facebooks Libra in Australia.

In a submission to the Select Committee on Financial Technology and Regulatory Technology the RBA said: Australia is already well served by a range of low-cost and efficient real-time payment methods, such as the New Payments Platform, that utilize funds held in accounts at prudentially supervised financial institutions.

The Japanese Financial Service Agency is reportedly planning to introduce a rule that limits the amount of leverage an investor can use in cryptocurrency margin trading, English-speaking outlet The Japan News reports.

The new rule would see leverage limited to twice the deposits of traders. The industry currently has a self-imposed cap of four times; the new law would cut potential leverage in half. According to sources familiar with the matter, the new rule looks set to come into force in the springtime.

And finally

Gregg Bennett, the man who allegedly lost $1 million worth of Bitcoin in a SIM-swap attack, has taken out Twitter adverts attacking cryptocurrency exchange Bittrex, the Seattle Times reports. The ads spread Bennetts claims that Bittrex is an unsafe exchange. He also maintains a website that documents his case against the exchange.

Bennett fell victim to the SIM-swap attack last year. He claims Bittrex violated or ignored its own security standards and industry-standard practices, which allowed hackers to steal 100 Bitcoin from him. Bittrex has said its not at fault and asked for the case to be dismissed.

There you have it, now go get on with your week.

Published January 13, 2020 09:41 UTC

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Moonday Mornings: Ethereum dev released on $1M bail over North Korea case - The Next Web

Sunny Lu, chief executive officer of VeChain, says a momentous meeting with Ethereum founder Vitalik Buterin in 2015 influenced him to create the supply chain management blockchain.

In a recent PANews interview, Lu recounts how he learned about Bitcoin in 2013. At the time, he was studying the cryptocurrency as a hobby. Two years later, he got an invitation to meet Buterin.

Says the CEO,

I can still remember vividly from our conversation about the drastic changes smart contracts and virtual machines will bring to our world. He described this blockchain technology in Bitcoin as the ledger system, and he transformed it from a simple record-keeping system into a more complex scenario, a new mechanism to approach complex business models.

It meant you can onboard an enormous number of complicated business models, business activities to the blockchain. So I thought it was a great opportunity, and maybe I can develop some applications based on blockchain. Then, there was Ethereum which opened a gateway for me and encouraged me on developing applications.

VeChains native cryptocurrency initally functioned on the Ethereum blockchain before migrating to its own blockchain last June. Today, some of the biggest names in retail, fashion and car manufacturing, including Walmart and BMW, are working with Lus supply chain management blockchain platform.

Featured Image: Shutterstock/Travel mania

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VeChain CEO Tracks Impact of Ethereum on His Rising Blockchain Platform - The Daily Hodl

Major crypto assets like EOS, Litecoin, and Ethereum are up by around five percent on average, and investors have been quick to call the start to an altseason.

In crypto, an altseason refers to when so-called alternative cryptocurrencies begin to surge in value amidst rising momentum in the market.

Many crypto assets have increased significantly in value over the past two weeks, but considering their steep fall from record highs and their performances in comparison to bitcoin, it is still too early to call it an altseason.

Against the USD, large cryptocurrencies like EOS, Litecoin, and Ethereum have rebounded quite strongly since the end of the first week of January.

However, the price charts of the three crypto assets against bitcoin tell a different story.

Since January 2019, Ethereum fell by around 57 percent against bitcoin. Litecoin dropped by 45 percent in the same period against BTC and EOS declined by 47 percent against BTC since the start of last year.

Ethereum, EOS, and Litecoin all dropped substantially against BTC since January 2019 (Source: TradingView)

Normally, an altseason begins after the bitcoin price spikes significantly. Major crypto assets do rise in tandem with BTC in an upside movement, but the real big movements based in historical data occur when BTC demonstrates sideways movement following an extended rally.

The sentiment around the crypto market rises and as BTC stabilizes, investors look for high risk options, confident in the short-term trend of the market.

Currently, it is difficult to say that bitcoin is in a bull market. Technically, because it is down by more than 20 percent from its recent high, it is in a bearish trend.

So, with bitcoin not completing an extended rally and not having stabilized after its recent run, the environment now is not what triggered previous altseasons.

While cryptocurrencies including EOS, Litecoin, and Ethereum rallied against the USD over the past week, they were also significantly oversold at the levels they rebounded from.

Ethereum, for instance, was hovering at $200 in November 2019, less than two months ago. Since then, it fell by 40 percent to $115.

Major crypto assets were long overdue to see some relief rally or recovery from low support levels. Whether the recent upside movement of the crypto market is the start to a proper altseason or merely a strong reaction to testing low supports still remains to be seen.

Historical data indicates that it is too early to determine that an altseason is beginning, and with most assets being down so significantly against BTC, it is also difficult to consider whether their recent upsurge was large enough to position the market for a potential rally.

Original post:

Yes, EOS, Litecoin, and Ethereum Are Up A Lot, But No, Altseason Isnt Here Yet. Heres Why - newsBTC

Dash has received the top rating from the Crypto Rating Council, passing Ethereum and Zcash and equaling Bitcoin in lowest possibility of being considered a security.

In an announcement released today, The Crypto Rating Council, billed the leading crypto financial services firms committed to practical compliance with the U.S. securities laws, laid out new ratings for several top assets, including Dash, evaluating their likely regulatory standing with the United States Securities and Exchange Commission (SEC):

We are also pleased to publish new asset ratings for five additional tokens: Cosmos (ATOM), Livepeer (LPT), Dash (DASH), Ethereum Classic (ETC), and Horizen (ZEN), each of which are traded, transacted or supported in some capacity as a non-security by at least one members U.S. business.

The Crypto Rating Council system is graded from 1-5, from least to most likely to be classified as a security by the SEC, according to internal analysis:

As a reminder, a score of 1 means the CRC analysis found that an asset has few or no characteristics consistent with treatment as a security while a score of 5 means the CRCs analysis found that an asset has more characteristics strongly consistent with treatment as a security under U.S. law. The CRCs analysis is its own and is not endorsed by developer teams, regulators, or any other third party.

In the updated ratings list, Dash received a rating of 1, indicating it is highly unlikely to be classified as a security by the SEC and therefore become subject to more stringent regulations. This ranking puts Dash in the same category as currencies such as Bitcoin, Litecoin, Monero, Horizen, and the DAI stablecoin.

A strong regulatory favorability ranking for Dash outdoing Zcash and Ethereum

This new ranking by the Crypto Rating Council puts Dash in a favorable position from a regulatory perspective, outdoing many other players in the space. Notably, Ethereum, Ethereum Classic, and Zcash all received poorer scores than Dash, receiving a score of 2. This is likely due to Ethereum and Ethereum classic, despite being mined through proof-of-work presently, nonetheless stemming from an initial ICO funding round raised with a single party distributing initial tokens to explicit investors. Zcash, while entirely mined through proof-of-work since its inception, nonetheless initially included a founders reward whereby a portion of all mining revenue was redirected to the founding entity. Other major projects such as Tezos and XRP received even poorer ratings of 3.75 and 4 respectively, likely due to a significant ICO and a delegated proof-of-stake model in the case of Tezos, and the entire supply being created in advance in the case of XRP.

Dash Core Group has actively engaged with the SEC in the past in order to seek a favorable ruling and potentially an explicit no-action letter. Dash Core Group CEO Ryan Taylor believes that Dashs legal argument against being classified as a security is very strong, and believes that recent communications and lack of action are indicators that Dash is far from being viewed as a security and being subjected to additional regulation.

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Dash Awarded Top Rating By Crypto Rating Council Above Ethereum and Zcash - Dash News

Blood on the streets? Not so fast 0 but cryptocurrencies resume their rises and hit higher levels. Investors flocked to Bitcoin, Ethereum, Ripple, and others after the US killing of top Iranian general Qassem Suleimani and as prospects of war were rising. When the world's superpower and the regional leader defused tensions, digital coins dropped.

But now, cryptos are climbing once again. Reports of significant adoption, new money entering exchanges and other explanations have been given to the rise. What are the next levels to watch?

This is what theCrypto Confluence Detector shows in its latest update:

Bitcoinhas been leading the charge forward, but the granddaddy of cryptocurrencies is now the worst-positioned coin among the majors. It needs to convincingly overcome the dense cluster of lines awaiting around $8,490. This includes the Bollinger Band 4h-Upper, the Pivot Point one-month Resistance 2, the previous week's high, the SMA 50-15m, and more.

If it runs higher, the next target is $9,155, which is the meeting point of the PP one-week R2 and the PP one-month R3.

BTC/USDhas significant support at around $8,220, which is the convergence of the PP one-day R1, the Fibonacci 23.% one-week, the previous daily high, the SMA 50-1h, the SMA 200-15m, and more.

The next cushion is at $8,050, where we note the confluence of the SMA 200-1h, the SMA 50-4h, the Fibonacci 38.2% one-week, the PP one-day S1, and the previous daily low.

Ethereumis well-positioned to continue higher. Vitalik Buterin's brainchild enjoys massive support of around $149.60, which is a juncture including the previous 4h-low, the PP one-day R2, the PP one-month R1, the BB one-day Upper, the BB 4h-Upper, and the SMA 10-1h.

It enjoys another considerable cushion at $139.50, which is the confluence of the Fibonacci 61.8% one-month, the SMA 50-one-day, the PP one-day S2, and the Fibonacci 61.8%.

Looking up, initial weak resistance awaits ETH/USD at $153, where the previous monthly high and the BB 1h-Upper meet.

The upside target is $170, where the PP one-month R2 hits the price.

Ripple, similar to Ethereum, enjoys substnail support and may target higher levels. It is trading just above $0.2186, which is the convergence of the PP one-day R2, the Fibonacci 23.6% one-week, and the SMA 50-15m.

A dense support cluster awaits it at $0.2117, which includes the SMA 5-one-day, the Fibonacci 23.6% one-day, the Fibonacci 61.8% one-month, the SMA 200-1h, and the SMA 50-4h.

XRP/USD's first target is $0.2330, which is last month's peak, and then $0.2437,where we see the confluence of the Pivot Point one-week Resistance 2 and the 100-day Simple Moving Average.

See all the cryptocurrency technical levels.

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Top 3 Price Prediction Bitcoin, Ripple, Ethereum: Higher levels to watch after the bullish run - FXStreet

Ethereum (ETH) continues to gather pace after an impressive start to the year. The second-largest cryptocurrency by market cap has already risen to a two-month high of $165 after a 13% rally this week. Over the past month, the cryptocurrency has rallied by more than 35% and is showing no signs of slowing down.

Price gains have coincided with an uptick in trading volume, affirming renewed investor interest in crypto after a roller coaster 2019. Trading volumes have more than doubled to highs of $17.9 million over the past month. Ethereum is not the only one experiencing gains in the market. Many other altcoins have also rallied by an average of 5% as bullish sentiments continue to boost the sector.

When it comes to ETH price action, the $155 area is its immediate support level. The bulls, on the other hand, will have to break the $165 resistance zone, if the cryptocurrency is to continue powering high. Above $165, the next hurdle is at the $170$172 level.

Gains in trading volume and price stem from a number of factors that continue to work in favor of Ethereum. Growing economic uncertainty in Venezuela has once again continued to fuel demand for cryptocurrencies. Likewise, reports that a cryptocurrency bull run is on the horizon has seen investors start jostling for positions.

>> Bitwise Withdraws Bitcoin ETF Application with SEC

The launch of Ethereum 2.0, often referred to as Serenity, is another development likely to shape Ethereum sentiments and prospects in the market this year. Set to be rolled out in phases, Ethereum 2.0 should bring about Shading, proof of stake, and a new virtual machine, among other things.

Ethereum 2.0 will trigger the proof of work consensus algorithm, which Bitcoin has already integrated. Likewise, the upgrade will bring about Beacon Chain, shard Chains, and State Execution. Ethereum co-founder Vitalik Buterin has already released a block explorer that will support Beacon Chain and track a testnet version.

Featured image: DepositPhotos yuliang11

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Ethereum (ETH) Soars 35% in a Month: What to Expect Now? - CryptoCurrencyNews

Over the past two days, Bitcoin, Ethereum, and the rest of the cryptocurrency market have shot higher, retaking key price levels after an 8% correction that brought BTC as low as $7,700. Analysts say that this move is a precursor to strong price action in BTC and ETH.

Cryptocurrency trader CryptoWolf recently noted that Ethereums price, with the latest price action, has allowed the cryptocurrency to break above a seven-months falling wedge chart structure. Due to the magnitude of the importance of this chart pattern, the turning of the wedge into support could lead to ETH pressing much higher than it is now.

Not to mention, fundamental metrics suggest that growth is imminent.

A Twitter user recently shared the below chart, writing that Ethereums network growth is on an upward trend. Indeed, per their chart, network growth, defined by the number of new addresses created each day, has recently surged to levels not seen since the top of 2019s bull run.

Although the number of new Ethereum addresses may not seem to related to ETHs price on the surface, the users chart shows that there is a clear correlation between the two metrics, with address count growth seemingly preceding price action.

Due to this historical correlation, the rapid growth seen in this metric could imply that the second-largest cryptocurrency has extreme upside potential ahead of itself, upside that may take it back towards $200 and $300.

While a bullish case for ETH is rapidly building, a key price level must hold for said case to remain potent.

Per previous reports from NewsBTC, Michael Van De Poppe, a contributor to CoinTelegraph and a noted crypto analyst,recently notedthatEthereumis effectively on the edge of a cliff at the moment, per his analysis.

He noted that if the second-largest cryptocurrency manages to break below $133 a mere 8% below current levels on a daily basis, meaning that it will have to turn that area into resistance, a move to $100, maybe even lower, could be had.

Van De Poppe, who is also a full-time trader at the Amsterdam Stock Exchange, noted that $133 is an extremely important horizontal support, for it acted as support last April and in November of last year.

Continued here:

Ethereums Price Chart Just Printed This Extremely Bullish Signal - newsBTC

In a recent blog post, the Chainlink team analyzed the DeFi ecosystem and outlined how Chainlink (LINK) will contribute to the success of the decentralized financial economy. If the DeFi reaches a billion dollar value, as ConsenSys recently predicted, Chainlink and its LINK token could benefit massively.

The decentralized financial economy (DeFi) has shown continuous growth over the past year, regardless of the bear or bull market. At the time of writing, there were USD 814.84 million in Ethereum (ETH 3.115 million) locked up in all Ethereum-based DeFi projects. Most recently, Chainlink has entered intocollaborations with Binance, Synthetix and Conflux in the field of DeFi.

Source: https://defipulse.com/

Blockchains are designed to be basically a closed system. They rely exclusively on on-chain data that is already present in the blockchain. This ensures that the decentralized consensus is maintained and cannot be manipulated. However, the use cases of the blockchain are strongly limited by this premise.

For example, price and interest data sets that are created outside a blockchain (off-chain) and that differ in value and format from different sources are not accessible. In addition, the diversity of data makes it difficult for blockchains to obtain reliable data without sacrificing consensus reliability. In this respect, the Chainlink team states:

Taking into account the realities of modern data and blockchain consensus, theres a pressing need for a standard bridge between DeFi applications and all types of off-chain data. As discussed below, Chainlink is a standard, yet customizable protocol for enabling DeFi to securely and reliably connect with off-chain resources.

By using Chainlink, DeFi projects can thus increase the variety of products offered and make the market more attractive to regulated players. In total, Chainlink lists four concrete advantages offered by Chainlink Oracle technology: Connectivity, data protection as well as confidential and cost-effective data.

Most DeFi applications rely on data to execute their smart contracts. The Chainlink Oracles, as a digital agent, can be used by a Smart Contract to retrieve and/or connect data and systems outside its blockchain. The Oracles enable off-chain connectivity for Ethereum smart contracts by providing external connection points (APIs) to data providers, web APIs, enterprise systems, cloud backends, IoT devices and payment systems through Chainlink.

Furthermore, Chainlink enables the retrieval while maintaining the decentralised consensus. While centralized aggregation of data is vulnerable to manipulation, Chainlink has developed decentralized Oracles. The data is computed based on aggregation from independent, security-checked nodes and is regularly updated.

Another major problem in the development of DeFi projects is the on-chain gas cost. When applications require constant price feeds and/or use multiple Oracles and data sources, retrieving the data can quickly become very costly. In this regard, Chainlink is currently working on implementing threshold signatures in the Chainlink protocol. These represent a new aggregation protocol that requires only a single on-chain gas charge.

Another major issue is privacy, as Sergey Nazarov, co-founder of Chainlink, explained:

Most contracts in the real world simply cannot happen without privacy. The lack of on-chain privacy outside of more expensive Zero Knowledge Proof (ZKP) designs means that many contracts cannot be redesigned as potentially more efficient smart contracts. Privacy is essential for concealing internal positions and trading strategies, as well as abiding by data privacy laws and regulations.

Chainlink has therefore implemented two data protection solutions. Mixicles are also used to create privacy.

As the blog post shows, the success of the DeFi could be an important factor in the success of Chainlink and the LINK token. Meanwhile, the Chainlink price is in a continuous uptrend and has seen a 57% increase over the last 30 days. At the time of writing, LINK is trading at USD 2.79.

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Last Updated on 17 January, 2020

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Is Chainlink the key to the success of Ethereum DeFi? - Crypto News Flash

The Reserve Bank of Australia was among the first national central financial institutions to start its own blockchain research & development labs. It looks like they are ready to deliver something.

In 2020, central banks' digital currencies or CBDCs will be the holy grail of the financial world. Australia supports this trend and has revealed its experiments with regulated cryptocurrency. It has been disclosed that the RBA isconducting sophisticated trials to test whethercentral bank-issued digital currencies can play a useful role in the payment settlement system.

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In the document that wasrecently sent by the RBA to the Australian Senate, the system is called a'private, permissioned Ethereum network'. That could mean that the basic token of the Australian CBDC system will be issued in compliance with the ERC (Ethereum Request For Comment) standard.

Also, the document disclosed the up-to-date status of the RBA-driven research. Three main use-cases for Ethereum-based CBDC are named:

Furthermore, the RBA announced its planto extend this research over the coming year. So, the public testnet of the Australian government-backed stablecoin may beright around the corner.

What do you think, will this coin be issued in 2020? Share your predictions with us in the Comments section!

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Ethereum (ETH) - Based Cryptocurrency Tested By The Reserve Bank of Australia as Payment Tool - U.Today