Day: January 29, 2020

Ripple (XRP) Is Diving, But It’s Too Early to Say Bulls Have Given Up

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Ripple started a fresh decline after it failed to surpass the $0.2400 resistance against the US Dollar. XRP price might revisit the $0.2250 support area before a new bullish wave. Ripple price is declining and it seems like the bears protected the $0.2400 resistance against the US dollar. The bulls failed to keep the price above the $0.2350 support area. There was a break below a key triangle support at $0.2365 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair remains at a risk of…

Stablecoins ‘Flip’ Ethereum’s Native Currency In Transfer Value

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A greater share of value is being transferred via stablecoins over the ethereum network than its own native cryptocurrency ether (ETH), according to research conducted by crypto data aggregate Messari. In a recent tweet, research analyst at Messari, Ryan Watkins said stablecoin transfer value had “flipped” ethereum’s native currency, ETH. “This is largely the story of Tether (USDT) transitioning to Ethereum. On a weekly basis, the flip occurred mid-2019. Since then the change is striking,” Watkins said. The outstripping of ETH by stablecoins on its own network signifies a major…

Ethereum Just Saw Key Technical Correction But 100 SMA Can Trigger New Rally

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Ethereum price started a downside correction from the key $180 resistance area against the US Dollar. ETH is currently below $175, but it is holding the 100 hourly simple moving average. Ethereum failed to climb above $180 once again and recently declined below $175 against the US Dollar. The price is now trading near the $170 support and the 100 hourly simple moving average. Yesterday’s highlighted key major ascending channel was breached with support near $175 on the hourly chart of ETH/USD (data feed via Kraken). Bitcoin price also corrected…

These Altcoins Are on The Cusp of an Insane Rally

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Bitcoin’s firm 2020 uptrend has allowed major altcoins to incur some much-needed momentum, with many major cryptos currently pushing up against key multi-year resistance levels that have been suppressing their price action for years. This positive price action over the past month may be enough to break the firm bear market that altcoins have been caught within and lead some major cryptocurrencies – like Litecoin and others – to see some massive momentum. Altcoins Begin Breaking Key Resistance Levels as the Crypto Market Shows Signs of Bullishness Most major cryptocurrencies…

Coinbase Custody Goes International With New Entity in Ireland

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Coinbase has launched Coinbase Custody International Inc., a European entity for handling cryptocurrency deposits. Based in Dublin, Ireland, Coinbase said in a blog post that client demand for institutional-grade custodial services drove the move. Separately, a spokesman for the exchange said Coinbase Custody now has $8 billion in assets under custody, up from the $7 billion announced last November. “While Coinbase Custody has served European-based clients in the UK, Switzerland, Germany, Finland, the Netherlands and more since 2018, our dedicated presence in Europe will allow us to offer these services…

Blockchain.​​​​​​​​com Is The Latest to Launch A Fiat Gateway For This Pro-Crypto Country

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United Kingdom-based cryptocurrency data and wallet provider Blockchain.com has launched a gateway for the Turkish lira on its crypto exchange. Blockchain.com is the latest major crypto exchange to join the growing roster of crypto platforms with a direct gateway for the Turkish lira, according to a press release published on Jan. 29. Blockchain has launched full banking integration to enable users to deposit and withdraw TRY on the exchange platform. Crypto users from Turkey don’t need a third-party payment method to buy and sell crypto on Blockchain.com Exchange. The release…

Zcash Community Approves New Mining Reward Distribution Scheme

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A recent poll revealed community support for Zcash mining reward changes, which will take effect in November 2020.  With the Zcash Founder’s Reward terminating in November, the privacy asset’s mining situation has come into question, a blog post from one of the project’s supporters, Electric Coin Company, or ECC, said on Jan. 28.  Community votes in new specs Using a bevy of avenues, including Telegram and Twitter, the Zcash foundation questioned the coin’s community on mining payouts going forward, the blog post read.  Taking effect in November during the coin’s…

Did Ethereum Silently Give Up on Plasma?

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In a Jan. 27 post, Dragonfly Research proclaimed Plasma to be dead, noting that the Ethereum (ETH) community is converging on Optimistic Rollup, despite initial enthusiasm. The news comes in stark contrast to earlier claims by Plasma Group arguing that the technology was moving into production phase. The history of Plasma The original paper detailing the Plasma proposal was published in August 2017. In essence, Plasma was conceived as a network of sidechains attached to the main Ethereum blockchain. They would have allowed offloading of the majority of the transactional…

Former Google Exec Joins Coinbase as New Chief Product Officer

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Former Google executive Surojit Chatterjee has joined Coinbase as the company’s new chief product officer.  Before joining Coinbase, Chatterjee worked as a Google’s vice president of product, tallying 11 years at the internet company, Coinbase CEO Brian Armstrong wrote in a Jan. 29 blog post announcing the hire.  An experienced hire During his time at Google, Chatterjee headed up the internet giant’s shopping branch. Prior to Google, Chatterjee served at the helm of Indian e-commerce venue Flipkart as its head of product, the blog post detailed.  “Surojit’s 11 years at…

Better Regulation Could Curb Crypto Scams, Chainalysis Report Says

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Greater regulations and enforcement can deter some crypto crimes, blockchain forensics provider Chainalysis said in a new report. Chainalysis’ 2019 Crime Report, published Wednesday, details its analysis of illicit activities last year, contrasting 2019 actions with previous years. It found that while the amount of bitcoin sent from criminal entities doubled between 2018 and the end of 2019, it still accounts for just 0.08 percent of the total number of bitcoin transactions last year.  And while exchange hacks and thefts dominated headlines last year, “scams were by far the highest-earning…