Day: December 22, 2018

Ethereum Price Weekly Analysis: ETH Breaks $125, Could Test $140

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Key Highlights ETH price surged higher and broke the $115 and $125 resistance levels against the US Dollar. There is a major bullish trend line formed with support at $114 on the 4-hours chart of ETH/USD (data feed via Kraken). The pair remains in a solid uptrend and it could continue to rise towards the $135 or $140 level. Ethereum price gained a lot of bids versus the US Dollar and Bitcoin. ETH/USD broke the $125 resistance and it may now climb towards the $140 level. Ethereum Price Analysis This…

Pump-and-Dump Groups Become ‘Widespread’ as Market Remains Largely Unregulated

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The Social Science Research Network (SSRN) recently published research studying the phenomenon of pump-and-dump groups within the crypto community. The paper — conducted by seven academics from Tel Aviv University, the University of Tulsa and the University of Mexico — concluded that “regulators should be very concerned that price manipulation via pump and dump schemes is so widespread.” What is a pump-and-dump scheme? A pump-and-dump scheme is a type of price manipulation where a group of traders aim to drive an asset’s price up through coordinated buying. Once outside investors…

Saying Goodbye to the Blockchain Romantics

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Elly Zhang is director of partnerships of Heliocor, a leading regulatory technology company based in London. She previously lead Asia growth initiatives for the cryptocurrency wallet startup Blockchain. The following is an exclusive contribution to CoinDesk’s 2018 Year in Review.  As crypto prices continue to fall, 2018 is ending on a sour note for the global blockchain community. To some, this is a time for reflection, a time to shrug off the hype and really assess what we’ve achieved over the past few years. But it’s possible that’s just the optimistic…

Why the CFTC’s Questions About Ethereum Matter

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Noelle Acheson is a veteran of company analysis and member of CoinDesk’s product team. The following article originally appeared in Institutional Crypto by CoinDesk, a newsletter for the institutional market, with news and views on crypto infrastructure delivered every Tuesday. Sign up here. ————————–————————–————————–————————–————————–————————– Are ether futures just around the corner? Last week, the US Commodity Futures Trading Commission (CFTC) released a series of questions for the public, focusing on the workings of ethereum and the market for its token, ether. That ether futures are being considered is not a surprise. In July,…

Ethereum Co-Founder Calls ‘the Cryptobottom of 2018’

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Joseph Lubin, co-founder of major cryptocurrency Ethereum (ETH), declared that he is “calling the cryptobottom of 2018” in a tweet Dec. 21. According to Lubin, the crypto market’s bottom “is marked by an epic amount of fear, uncertainty, and doubt,” specifically from industry media and social commentators, which he refers to as “our friends in the 4th and crypto-5th estates.” Continuing in a Twitter thread, the founder of Ethereum blockchain-focused software firm ConsenSys then evidently addressed his firms recently reported major layoffs: “ConsenSys remains healthy and is engaging in a…

Israel’s Central Bank Issues Request for Information on DLT

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A team that includes representatives from the Bank of Israel has issued a formal request for information about Distributed Ledger Technology (DLT), published on its website Dec. 18. The request — the goal of which is, as per the title, the “Regulatory Coordination of Virtual Assets”— states that “the regulators of the Israeli financial system believe that there is room to renew and strengthen cooperation and coordination among all regulators and the public” regarding DLT. Besides the country’s central bank, the team reportedly includes representatives from the country’s Securities Authority,…

Crypto Assets to Be Regulated Differently in the US, Potential Impact on Industry

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The United States government could regulate crypto assets and tokens differently than stocks and traditional assets by altering the existing regulatory framework on securities. On Dec. 22, CNBC reported that two congressmen — Warren Davidson and Darren Solo — have introduced a bipartisan bill entitled “Token Taxonomy Act,” in an effort to prevent over-regulation in the cryptocurrency space. “In the early days of the internet, Congress passed legislation that provided certainty and resisted the temptation to over-regulate the market. Our intent is to achieve a similar win for America’s economy…

Bitcoin Dips Below $3,900 as Crypto Markets See Red

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Saturday, Dec. 22: most of the top 20 cryptocurrencies are seeing moderate losses, with Bitcoin (BTC) struggling to stay near $3,900. Market visualization from Coin360 At press time, Bitcoin is down almost 5 percent over the last 24 hours, trading at $3,879. On its weekly chart, current prices are below the highest value on the week of near $4,200, but still significantly higher than $3,217, the value at which BTC started the week. Bitcoin 7-day price chart. Source: CoinMarketCap Ripple (XRP), the second largest cryptocurrency by market capitalization, has lost…

TRX Surge 58 Percent, Back to Top 10

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Latest Tron News Months of bear pressure took a toll on several development arms as well as Consensys. Consensys–chaired by Joseph Lubin, plans to slash staff thanks to the deep losses in ETH. Like TRX, ETH prices tanked by as much as 90 percent sliding from highs of around $1,400 to sub $100. According to reports by Verge, staff from around 36 startups incubated by Consensys will face the sack, and Justin Sun is pouncing on this opportunity. In a tweet, the maverick founder of the smart contracting platform invited…

XRP Bullish, Break Above 40 Cents Vital For Bulls

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Latest Ripple News Aside from government regulators, companies are monitoring the space.  Crypto as a Bank of International Settlement representative said is an “evil spawn of a crisis”. By design, coins are meant to supplement and even replace traditional government-issued currencies. Ravaged by hyperinflation and a total lack of trust for fiat, Venezuelans are using crypto to pay for their day to day expenses. On the other hand, Ripple is banking on xRapid, xCurrent, and xVia to replace the SWIFT of which majority of the global banks are using. The…