Day: January 4, 2018

On December 29th Ripple soared by more than 55% to reach an all time high of $2.23 implying a market cap of more than $86 billion which was well-over Ethereum’s $73 billion at the time. Coverage seems to be infiltrating mainstream media now, with Ripple even getting a mention on the BBC.

So what has caused this market reaction?

I think the market is taking notice of Ripple’s speed, reliability and scalability — which has strengthened the demand for Ripple where it’s listed. Ripple has gone from being listed on six exchanges earlier this year to more than 50 worldwide.

At a fundamental level, growing adoption of Ripple seems to have driven its rise in value. Over the weekend, three of Japan’s largest credit card companies revealed they had signed up to use it to handle payments and settlement. Prior to this announcement, South Korean and Japanese banks announced a pilot project that would use Ripple to handle cross-border payments. These real world uses cases for XRP in these markets is probably why the South Korean cryptocurrency exchanges like Bithumb, Coinone, and Korbit have accounted for more than half of Ripple’s $4.5 billion daily trading volume. Interestingly, Asian investors continue to pay a premium for XRP, on Bithumb, it’s being traded at $2.76, more 25 percent higher than the global average price according to data taken from Coinmarketcap.com.

These events in Asia are believed to have prompted the bump in value. In addition, JoelKatz also known as Ripple’s Chief Cryptographer, David Schwartz, mentioned about “two household names” for the next wave of xRapid customer announcements.

For the most part, a lot of the price action is fueled by the anticipated XRP listing on Coinbase, the largest and most liquid exchange in the US, which is expected to happen imminently. With rumours around XRP being listed on Coinbase, huge sums of money is flowing into XRP, with one investor purchasing 2.7 billion XRP worth about $4 billion. There’s an interesting Reddit thread discussing this transaction.

A few months ago Coinbase released their Digital Asset framework which outlines their criteria for listing a Cryptocurrency on their site and unsurprisingly XRP satisfies more than few requirements. The Coinbase listing rumours were sparked by a video doing the rounds on Twitter, although there has been no formal announcement from either Coinbase or Ripple yet.

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Things are progressing nicely in the world of Bitcoin and altcoins these days. While the Bitcoin price is still on the bend, most altcoins are further solidifying their position in the market. Ethereum, for example, is looking to hit that $100bn market cap in the coming weeks. Moreover, the Ethereum price has increased to over $977, which means reaching $1,000 may happen sooner than expected. It would certainly be a great start to 2018 for ETH, assuming the momentum doesn’t run out before this milestone is reached.

Ethereum Price is Close to Surpassing $1,000

We have seen a lot of fresh capital enter the cryptocurrency ecosystem throughout 2017. At that time, it was only a matter of time until we would either see a market correction or things would only get even better. Although there has been a small correction for all currencies not that long ago, it seems most altcoins are unaffected by Bitcoin’s price struggle. In fact, the Ethereum price is a good indicator of how things are evolving in the world of cryptocurrency these days.

To put this into perspective, we have seen the Ethereum price surpass $500 and $750 in quick succession. When such growth happens, a correction is almost always imminent. Surprisingly, Ethereum is pretty versatile in this regard, as the value continues to rise. With an Ethereum price of $977.75 at the time of writing, it is evident there is a strong indication one ETH may be worth more than $1,000 in the near future.

Considering how that same ETH was worth under $900 less than 24 hours ago, the current Ethereum price growth is nothing short of remarkable. There is a lot of bullish momentum in the world of cryptocurrencies these days, and it seems things will only intensify further. Very few currencies are overly attached to Bitcoin’s price momentum right now, even though they make take a hit in USD value when BTC drops. In the case of the Ethereum price, we see a 10.59% gain in USD value and a 12.9% gain over Bitcoin. Very impressive, although reaching $1,000 will not be easy.

With over $5.83bn in 24-hour trading volume, Ethereum is more than capable of playing with the “big boys” in this regard. Although its volume is substantially lower than Bitcoin or XRP, it is still far more than what we have seen a year ago. We are slowly growing accustomed to higher numbers in the cryptocurrency world, and the trading volume is no different in this regard. There is plenty of demand to buy and sell Ether right now, that much no one can deny.

What is rather peculiar is how two of Binance’s trading markets are dominating the Ethereum trading market right now. More specifically, the company’s ETH/BTC and TRX/ETH pairs are very popular indeed. Bitfinex, Ethfinex, and GDAX complete the top five. It’s good to see people diversify their cryptocurrency portfolio, but we also need a steady stream of fresh fiat currency to keep this momentum going. So far, things are looking pretty good as far as Ethereum is concerned.

Whether or not we will see an Ethereum price of $1,000 by tonight, is a big question no one can truthfully answer. All sign points toward a positive outcome, but we also need to keep in mind Ethereum has gained a lot of value in the past 24 hours already. Eventually, there will be a moment of reprieve and a potential correction of some sorts. The year 2018 is certainly off to a good start for all currencies that aren’t Bitcoin.

Baofeng Group (Shenzhen Stock Code: 300431) subsidiary Beijing Baofeng Xinying Technology signed a strategic partnership with Metaverse on 25 December 2017. As strategic partners, both parties will jointly research and develop the Blockchain Consensus Network (BCN) as well as Blockchain-as-a-Service architecture, with the aim of expanding blockchain technology applications.

According to the terms of the partnership, Metaverse will provide technical support for full nodes for Baofeng Bokocloud and assist with upgrades to their consensus mechanism and incentive model. Baofeng Xinying will also be appointed as an honorary member of the Metaverse Foundation, and help enrich the Metaverse ecosystem with resources built on the BCN. Their architecture will support Metaverse’s full nodes and all future versions of the Metaverse blockchain. Baofeng Xinying will also provide a range of BCN services including system setups, network commissioning and 24/7 technical support for Metaverse to ensure the security, stability and performance of the Metaverse blockchain network.

Metaverse is the first public blockchain project to propose the concept of digital identities. Digital identities will be based on Metaverse’s unique blockchain ecosystem, with use cases built around the functions built into the Metaverse blockchain, Blockchain-as-a-Service and Metaverse wallets, and are capable of providing verification and authentication functions for various industries.

About BFC Bokocloud

Launched by Beijing Baofeng Xinying Technology, a subsidiary of Baofeng Group (Shenzhen Stock Code: 300431), Baofeng Bokocloud is the world’s first Blockchain Consensus Network (BCN) platform. With a focus on blockchain technology, large file delivery networks and the commercial and home video services market, Beijing Baofeng Xinying Technology has a wealth of practical experience and technical knowledge in the areas of large-scale and high-concurrency distributed file systems. Baofeng Group is a public company listed on the Shenzhen Stock Exchange. With over 300 million users worldwide, it offers a wide range of products and services including the Baofeng Online Video Service, Baofeng Magic Mirror VR, Baofeng Sports and Baofeng Internet TV.

About Metaverse

Metaverse is a leading public blockchain based in China. Designed to facilitate low-cost, convenient transfer of digitized personal data and assets with unprecedented security and privacy, Metaverse aims to revolutionize the way financial services and transactions are processed and to improve outdated and inefficient identity verification services with a network of Digital Assets, Digital Identities, and Oracle Intermediaries.

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The National Institution for Transforming India is exploring blockchain’s application in education, health and other sectors.

Bitcoin has come under pressure today amid sharp gains in alternative currencies, but the charts are showing no signs of panic.

Various countries all over the world aim to regulate cryptocurrencies. That is much easier said than done, though. After all, cryptocurrencies can’t be controlled by default. In South Korea, the government has taken a slightly different approach. Their form of cryptocurrency trading regulation doesn’t sit too well with the general public. In fact, a Seoul-based law firm has filed an appeal regarding this matter.

It is evident the regulation of cryptocurrency trading is a very sensitive subject. It may seem the best course of actions for most governments all over the world, though. Since cryptocurrencies can’t be controlled, the exchanges facilitating services certainly can. However, things will not go over so smoothly in South Korea. Anguk Law Offices filed an official appeal to fight this trading regulation. In fact, they claim the government conducted unconstitutional infringement on property rights. A very serious accusation that will not be easy to pursue whatsoever.

Cryptocurrency Trading Regulation Without Legal Ground

According to the law firm, there is no legal ground to regulate cryptocurrency trading. A very interesting way to put things, to say the very least. While no one denies regulation can be a good thing, there are no official related laws in place just yet. The Korean government is asked to “respect the property rights of its citizens”. Again, very firm language that leaves little to the imagination. The big question is whether or not the government will even pay attention to this appeal. It would certainly set an interesting precedent in the world of cryptocurrencies.

It is true the idea of regulating cryptocurrency trading is frowned upon all over the world. Forcing exchanges to conduct more thorough KYC and AML checks is not uncommon, though. However, limiting the way people can conduct these trades is something that doesn’t sit well. After all, people should still be given minimal access to these services without verifying their identity. Even if it is just for small amounts, there’s no reason to exclude these users whatsoever. How all of this will play out, remains to be determined, though.

Whether or not the South Korean government will ever recognize Bitcoin, remains to be seen. It is certainly something to look forward to if that happens. Japan has done the same a few months ago. That decision paid off in spades for the land of the rising sun. There is no reason why South Korea can’t do the same, even though nothing has been set in stone yet. Until an official form of recognition occurs, Bitcoin isn’t subject to traditional financial laws either. It remains doubtful the government will agree with that stance, though.

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As we had expected yesterday, the XRP price has continued its uptrend without too many problems. With every XRP worth over $3 as we speak, it is evident this digital asset is of great interest to investors and spectators all over the world. As is the case with any sort of growth in the world of finance, there will be a correction at some point in the future. For now, the bullish uptrend is still in place as we speak.

What Comes Next for the XRP Price?

If there is one unwritten rule in the world of cryptocurrency, it is how these markets never work out the way most people would expect them to. Common sense and logic are often absent when it comes to cryptocurrencies and digital assets, although that doesn’t always have to be a bad thing. The people who firmly believe Ripple and their XRP asset will succeed have proven all of the naysayers wrong in recent weeks, but it remains to be seen if this uptrend can be resumed for much longer. After all, the gains have been quite substantial, and a correction will have to occur at some point in the future.

To put this into perspective, the XRP price has seen some major growth in the past week.Rising from a value of just over $1.20 all the way to $3.60 may not seem all that spectacular to the untrained eye. At the same time, one has to keep in mind there are nearly 39 billion XRP in circulation across all exchanges. This makes it a lot more difficult for this asset to gain major value overnight, or so everyone thought. Just last night, we saw the XRP price move from $2.76 all the way to $3.83 before a minor correction set in. At the same time, this correction is mainly due to the Bitcoin price going down again.

One question a lot of people have is whether or not there is further room for growth for the XRP price. Right now, the most obvious answer is “not really”, but that is what people assumed when XRP hit $1 as well. It is evident the markets are very irrational right now, and very strange things will happen at some point in the future. Right now, the XRP price is correcting a bit, but it has done so every few hours over the past week.

With over $8.64bn in 24-hour trading volume, things have moved to the next level for XRP, to say the very least. It is the first time in history this digital asset successfully maintains its increased trading volume for several days in a row. Do keep in mind the overall cryptocurrency trading volume has risen spectacularly over the past few weeks, thus it is only normal the top currencies see more trades as well. Still, $8.64bn is pretty impressive, especially for an asset that can’t even be considered to be a cryptocurrency whatsoever.

Leading the rankings by trading volume is none other than Bithumb, followed by Bitfinex, and Coinone. Three fiat currency markets in the top three seemingly confirms a lot of fresh capital is entering the XRP ecosystem right now, which is pretty interesting to take note of. Bithumb is generating close to 33.7% of all trades for XRP right now, which is nothing short of amazing. Bitfinex and Coinone generate $794m and $664m respectively, which is also pretty impressive. The demand for XRP is genuine, although it can still dry up at any given moment.

How all of this will play out for the XRP price in the future, remains to be determined. There is still plenty of room for further growth, although one has to beware of the correction which is bound to happen sooner or later. Whether or not this will result in a major price reversal, has yet to be determined at this point. The cryptocurrency and digital asset markets are extremely volatile right now, and caution is more than warranted at this point in time.

3 January Is The Last Day To Participate

Wednesday 03 January, 2018, Zug, Switzerland – trade.io has announced that it has raised over $24 million from more than 12,000 participants worldwide.  Now reaching the end of crowdfunding activities for its ICO, the company has announced 7 partnerships with major international industry players including technology leaders, exchanges and academic institutions, signaling that the company has long term plans to dominate the financial and blockchain environments.

• Civic, revolutionary identity verification services will be provided to trade.io, greatly reducing inefficiencies and improving the user experience.
• OKEx, one of the largest global digital asset exchanges. The Trade Token (TIO) will be listed from 8 January.
• The integration allows the trade.io ERC20 token known as Trade Token or “TIO”, to be converted to and from Ethereum ERC20 tokens in the Bancor Network directly from a simple web application.
• University of Nicosia. The company will fund two post-doctoral seats to focus on advanced research in Distributed Ledger Technology (DLT)
• HitBTC Exchange, once of the largest cryptocurrency exchanges. The Trade Token (TIO) will be listed from 8 January.
• Plans to purchase US-regulated Broker / Dealer. This will allow trade.io to contemplate U.S. oriented investment banking services in a regulatory compliant manner
• Modular Blosym Framework. Blosym will offer an easy point-and-click interface for smart contract deployments and point-and-click token crowdfunding participation.

Of the development, trade.io CEO, Jim Preissler commented, “We would like to take this opportunity to thank all of the contributors who have far exceeded our expectations in joining our ICO.  Each contributor is making his or her mark in helping to democratize the markets. Whilst the ICO ends tomorrow, there is still a last chance to participate, plus anybody interested in joining our unique Liquidity Pool will still be able to purchase Trade Tokens after 8 January via one of the big exchanges.”

Find out more by visiting trade.io

About trade.io

trade.io democratizes the financial markets and saves money for investors and companies through reducing and eliminating fees and inefficiencies by utilizing its innovative Blockchain trading platform. Disrupting a whole ecosystem of banks, advisors, markets, and record keepers which are extracting fees and can be disintermediated and commoditized by more efficient peer-to-peer Blockchain platforms. The trade.io exchange not only supports trading of assets, but supports a more efficient listing of assets in the crypto economy under the indelible and trusted history that Blockchain provides. The company couples these operational assets with investment banking experience, senior advisory expertise, as well as operating their system in a regulated and compliant environment.

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Merrill Lynch, the brokerage arm of Bank of America, has blocked financial advisers and clients from trading in bitcoin-related investments.

As DASH reverse from $1200, other crypto pairs are following suit especially IOTA which is now trending lower after stalling at $4.2. Generally, USD buyers are in charge across most currency pairs besides NEM.

Apart from these, I will shift my focus on LTC and chances of losing their Q4 2017 gains is high after failing to close above $255.

Let’s have a look at other charts

NEM RALLY AS BUYERS AIM AT $2

Price action sliced through $1.1 like a hot knife through butter.

My recommendation on December 4 was proven wrong and after pasting a Fibonacci extension between last week’s highs, then it’s evident that NEM prices have already cleared two key resistance levels at $1.35 and at $.176.

Buy pressure is intact. Even though there is a stochastic sell signal in place, we shall see how bears react at $.176. That is assuming there is confirmation of bear pressure.

Of course it will not be wise to sell in a strong uptrend but in a bid for recovery, any close below $1.76 with trend towards the middle BB is ideal for buyers looking to buy on dips.

DASH REVERSE FROM $1200 AS SELLERS AIM FOR $800

After a doji candlestick on January 3, prices couldn’t get past $1200 and this reversal is a surely a confirmation of the over-valuation in the weekly chart.

We expect prices to close below $1000 in the coming sessions now that a stochastic sell signal is in place and DASH prices are turning from the 78.6% Fibonacci retracement level as per last week’s high-lows.

In light of this, sellers should aim for $800 and $650.

IOTA PATH TOWARDS EQUILIBRIUM IS ON COURSE.

Unfortunately for IOTA buyers, prices couldn’t get past $4.2 and this is important for sellers.

According to yesterday’s projection, we were short term buyers with ideal take profit target at $5.5. However, after today’s lower lows, IOTA path towards equilibrium is in progress invalidating that bull move.

Already there is a stochastic sell signal and obvious resistance at $4.2.

AFTER REVERSING FROM AROUND $400, MONERO SELLERS PUSH FOR $210

Monero price action is panning out as per yesterday’s recommendation and sellers are driving prices lower at around $400.

Besides that, there is a stochastic sell signal in place. This is in sync with the overall momentum in the weekly chart.

As usual, I will use the Fibonacci extension tool from last week’s high lows to mark out potential take profit levels.

As it is, Fibonacci projects them at $190, the 61.8% extension level. This is around the same price as our immediate support at $210. That’s where sellers should be aiming.

LTC BEARS MAY DRIVE PRICES TO $150

Sellers are definitely in charge and the bounce from $255 is impressive.

Because the over-all LTC trend is bearish, we should be looking to load shorts and aim at $150.

All charts courtesy of Trading View

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Dallas, TX (USA), December 28, 2018. At Blockchain & Cryptocurrency Con 2018, an international conference on blockchain technology that will take place in Dallas, Texas (USA), from February 22 – 24, 2018, R3, a fintech startup that counts more over 100 banks, financial institutions, regulators, trade associations, professional services firms and technology companies as partners, will be conducting a 2-day Corda training for developers.

Corda is R3’s open-source distributed ledger platform that is the result of a 2-year collaborative effort with 80 of its partners.

The Corda training for developers, which will be conducted by the team building the Corda platform, is an intensive training that helps developers understand the security, network design and other key aspects of the Corda architecture and gives them the coding skills to develop CorDapps – applications that run on the Corda platform.

Outside of R3’s training facilities in London, NY, and Singapore, the conference in Dallas, TX (USA), is the only physical location where the course can be taken in February 2018, and the cost will only be about 33% of what you’ll normally pay at those other locations. So no matter where you are, you an still save more than $1,000 USD by taking the training at Blockchain & Cryptocurrency Con 2018.

In addition, participants who take the class at the conference in Dallas, TX, will get a 6-month, unlimited access to R3’s learning management system (LMS), which contains hours of Corda Distributed Ledger Technology online training.

Combined with the conference being the most affordable blockchain-related conference you’ll ever attend, this is one opportunity you don’t want to miss. So click <a href=”http://tinyurl.com/ybxf2slz”>here</a> to register for the class and conference, <a href=”https://blockchain-conf.com”>here</a> to visit the main conference website, and <a href=”https://www.corda.net/”>here</a> for more information on Corda.

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