Ethereum Could Narrowly Avoid Another Decline If It Closes Above $230

Ethereum is slowly recovering and trading above the $225 level against the US Dollar. ETH is likely to rise sharply if it clears the $228 and $230 resistance levels. Ethereum is showing positive signs above the $224 and $225 support levels. The price is still struggling to clear the $228 and $230 resistance levels. There is a crucial ascending channel forming with support near $224 on the hourly chart of ETH/USD (data feed via Kraken). The pair could either rally above $230 or it might decline below the channel support…

Bitcoin Price Bulls Pin Hopes on Descending Channel Breakout to $10K

Bitcoin (BTC) price showed a bit of strength by briefly pushing to $9,235 as the daily close occurred but at the time of writing the top-ranked digital asset on CoinMarketCap is trading below the $9,200 resistance.  Crypto market weekly price chart. Source: Coin360 As discussed in the previous analysis by Cointelegraph Markets, the price remains pinned below the 20-MA and the descending trendline from the June 1 high at $10,380. Until Bitcoin can secure a daily close above the $10,400-$10,500 level the price remains at risk of a breakdown to…

LCX and LunarCRUSH Partner to Provide Crypto Market Insights

The Liechtenstein Cryptoassets Exchange (LCX) and social analytics platform LunarCRUSH will be working together to provide crypto market insights on security tokens. According to a June 29 press release available to Cointelegraph, the two firms have taken the first steps to form a partnership which will provide crypto market insights for security tokens and other compliant digital assets.  LCX and LunarCRUSH will be combining their talents “to deliver community insights, research, background information, historical and real-time market data to crypto investors and traders.” The announcement stated the partnership will help…

Bitcoin’s ROI Since 2015 Outperforms Five Major Indices by 70X

Bitcoin had a nearly 3,500% return on investment since 2015, 70 times that of five traditional stock markets. According to a June 29 article at investor website Buy Shares, data analyst Justinas Baltrusaitis says from June 26, 2015 to June 26, 2020, the return on investment (ROI) for Bitcoin was more than 70 times higher when compared to the Financial Times Stock Exchange 100, NASDAQ, Nikkei, S&P 500, and Dow Jones markets.  “During the period under review, Bitcoin’s ROI stood at 3,456.98% where in June 2015, the price of Bitcoin…

Bitcoin Could Recover Significantly And Only 1 Thing Is Holding It Back

Bitcoin is slowly moving higher and trading above the $9,100 level against the US Dollar. BTC could start a strong upward move if it clears the $9,300 and $9,340 resistance levels. Bitcoin is showing a few positive signs above the $9,000 and $9,100 levels. The price is trading above the 100 hourly simple moving average, but it is still well below $9,300. There was a break above a crucial bearish trend line with resistance near $9,170 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair…

Soramitsu Starts Testing ‘White Tiger’ Digital Currency in Japan

Japanese blockchain company Soramitsu announced it would start testing a new local digital currency for retailers at the University of Aizu. According to a June 29 report in the Nikkei newspaper, Soramitsu will begin testing “White Tiger,” a digital currency sitting on the company’s native Hyperledger Iroha blockchain. The digital asset will be tested at cafeterias and shops at the University of Aizu in Fukushima Prefecture, 300 km north of Tokyo, starting on July 1 before gradually being utilized at locations off campus.  The introduction of White Tiger is part…

Blockchain Prediction Platform Augur Launches V2 on July 28

Blockchain-powered event betting company Augur says that users of its REP cryptocurrency need to migrate their tokens once a new version of the platform is available starting July 28. According to an announcement posted to the platform’s website on June 29, Augur v2 will launch on the Ethereum (ETH) mainnet at the end of next month. This means that REP token holders need to manually migrate their coins to the new version, REPv2. Augur stated that current tokens will be renamed “REPv1” to lessen any confusion. ‘Use it or lose…

A “Huge” Bitcoin Move Is Imminent as Price Stalls in the Low-$9,000s

While Bitcoin has seen its fair share of short-term volatility, on a macro scale the cryptocurrency is still consolidating. The below chart from Blockroots founder Josh Rager, a crypto trader, displays this well. The chart shows that over the past ~seven weeks, BTC has been effectively trapped between $8,500 and $10,000. Each breakout has failed to lead to a follow-through. Chart of BTC’s price action over recent months by Josh Rager (@Josh_rager on Twitter). Chart from Tradingview.com Yet the consolidation is reaching a breaking point: volatility indicators show that any…

Researchers Say New Lightning Network Attack Could Create ‘Chaos’

A study published on June 29 revealed a way to drain Bitcoin (BTC) wallets’ funds on the Lightning Network by exploiting a bottleneck in the system. According to the “Flood & Loot: A Systemic Attack On The Lightning Network” paper, Jona Harris and Aviv Zohar from the Hebrew University in Israel evaluated a systemic attack on the Lightning Network that allows for the theft of BTC funds that were locked in payment channels. Flooding the blockchain with simultaneous attacks The Lighting Network is used to send payments through intermediary nodes,…

Ethereum Volatility Drops Below Bitcoin’s but ETH Options Are Bearish

Ether (ETH) options implied volatility, a measure of the expected price swings as per the options markets premium, has dropped below Bitcoin’s (BTC) for the first time ever.  This could signal that investors have given up expectations of a price decoupling, or they simply expect ETH price moves to mirror Bitcoin.  In the case of potential catalysts for significant price moves, implied volatility tends to move up whereas an absence of triggers causes volatility to recede, alongside a diminishing premium on options markets. Deribit options implied volatility. Source: Skew The…