Ethereum Price Analysis: ETH In Trouble, Risk of Breakdown Below $100

ETH price failed to bounce back and declined below the $108 and $104 supports against the US Dollar. Yesterday’s highlighted key bearish trend line is intact with resistance at $110 on the hourly chart of ETH/USD (data feed via Kraken). The pair tested the $100 support area once and it corrected above the $104 resistance level. Ethereum price declined heavily with bearish moves against the US Dollar and bitcoin. ETH/USD is under a lot of pressure and it seems like sellers could attempt to break $100. Ethereum Price Analysis Yesterday,…

How Maduro’s Petro Plan Failed to Bail Out the Country

Venezuelan leader Nicolas Maduro was sworn in for a second term on Jan. 10, amid tremendous hyperinflation, long-lasting political and economic crisis, and strict sanctions imposed by its former partner and oil purchaser: the United States. Since Maduro first took office in 2013, Venezuela has faced several brutal riots, including the “Mother of All Marches” in 2017 and the Caracas helicopter attack in the same year,  and the current crisis is very likely to be the last for the regime. We decided to look into the last six years for…

Crypto Exchange QaudrigaCX Goes Offline, Claims Maintenance Issues

Canadian cryptocurrency exchange QuadrigaCX is down for maintenance, according to an announcement on its webpage on Jan. 28. The exchange, which has been wrapped up in legal troubles with the Canadian Imperial Bank of Commerce (CIBC), is inaccessible as of press time. Screenshot of QuadrigaCX Webpage. Source: QuadrigaCX The exchanges users, some of whom have purportedly been unable to access or withdraw their funds for months, took to Reddit and Twitter. One user asked, “Shouldn’t you let your customer know before taking it down?” Some users on a Reddit post…

Swiss Wallet Firm to Produce Physical Banknotes for Marshall Islands Digital Currency

Tangem, a Switzerland-based ‘smart card’ wallet manufacturer will reportedly issue physical banknotes for the Sovereign (SOV), the state digital currency of the Marshall Islands, according to an announcement on Jan. 28. Per the announcement, physical representations of the digital currency will purportedly ensure that citizens have “fair and equal access to their digital currency, whether or not they have internet connection.” The firm states that a physical SOV will be a “controllable mechanism” for issuing the currency by the Marshallese government. Minister David Paul, Minister-in-Assistance to the President of the…

Troubled Crypto Exchange QuadrigaCX Goes Offline for ‘Maintenance’

Troubled crypto exchange QuadrigaCX, whose customers have been unable to withdraw funds for months, has been inaccessible for several hours. The Canadian company, which has faced a prolonged banking fight and said its CEO and founder died last month, blamed a system upgrade for the Monday outage. It was not immediately clear when the exchange would go back online. The company did not post any updates about the situation to its Twitter or Reddit pages, though users of both platforms complained about issues accessing the platform throughout the day. Moreover, the…

BitTorrent Tokens Sold Out in Under 15 Minutes, Netting Over $7 Mln

The BitTorrent token (BTT) sale on the Binance Launchpad platform concluded today Jan. 28, netting $7.1 million dollars with the sale of 50 billion tokens in under 15 minutes. Binance announced the conclusion of the sale in an official blog post. BitTorrent is a protocol for peer-to-peer file sharing, allowing users to distribute files such as music or videos over the internet. BTT is based on a Tron TRC-10 token, and will be used on the platform to “transact in computing resources shared between BitTorrent clients and any other participating service…

Owner of Hacked Crypto Exchange BitGrail Sentenced to Return Funds to Customers

Francesco Firano, the owner and founder of hacked Italian cryptocurrency exchange BitGrail, has been sentenced to return as much of the assets to his customers as possible. Scans of the court decision were released by the Bit Grail Victims Group (BGVG) on Medium on Jan. 28. The Italian Bankruptcy Court published the sentence on Jan. 21. A post by the BGVG published the same day as the court sentence explains that “the court concluded that both Bitgrail and Mr. Firano, personally, be declared bankrupt, authorizing seizures of many of Mr.…

More Decentralization and Greater Efficiency

  The association between blockchains and energy is usually a negative one. “The Bitcoin blockchain is so wasteful of electricity,” or so the argument goes, “that it would push global warming to dangerous levels if it were ever used on a massive scale.” Research published in the influential journal Nature backs up this warning. Yet, if we were to look beyond Bitcoin, it becomes apparent that blockchains in general are being increasingly put to good use by the energy industry. From their use in energy trades to their incorporation in…

Nvidia Decreases Q4 Revenue Estimates Citing Crypto Mining Decline, Conditions in China

Taiwan-based computer hardware producer Nvidia updated its financial estimates for Q4 for the fiscal year of 2019, according to a press release on Jan. 28. The company is reflecting weaker forecasted sales in its gaming and data center platforms, which comes from excess mid-range channel inventory following the slump in cryptocurrency markets. Q4 revenue is expected to be at $ 2.20 billion, opposed to the previous projection of $2.70 billion according to a statement released by Nvidia on Jan 28. The cryptocurrency mining frenzy drove up demand for Nvidia’s graphics…

BTC Bullish, Bears Yet to Reverse Dec 2018 Gains

Bitcoin price down 4.2 percent at the time of press Jan Van Eck says Bitcoin investors liquidating to Gold Transaction volumes low, bulls have a chance Prices are down 4.2 percent in the last 24 hours but even so, Bitcoin bulls have a chance. A combination of fundamentals and supportive candlestick arrangement mean buyers can still recoup today’s losses and print new highs in days ahead. Bitcoin Price Analysis Fundamentals It has been 11 years of unimaginable price movements, and at one time, Bitcoin changed hands at a whopping $20,000…