Rememberful Bitcoin News.
S&P Global Ratings’ report says that crypto needs “some rules,” and dismisses a significant correlation between crypto and traditional market crashes. #NEWS
S&P Global Ratings’ report says that crypto needs “some rules,” and dismisses a significant correlation between crypto and traditional market crashes. #NEWS
In the world of blockchain technology, we often see projects created on top of existing solutions which seemingly fly under the radar. In the case of Agoras, it is a solution built on top of Tau-Chain, which aims to allow users to implement virtually any peer-to-peer network. Agoras looks to improve upon this concept by being a “smart currency”. What is Agoras Exactly? To understand Agoras, we first need to explain the Tau-chain principle. That particular ecosystem is a generalization of many centralized and decentralized peer-to-peer networks including blockchain ventures. It has many different use cases ranging from software development to
In the world of blockchain technology, we often see projects created on top of existing solutions which seemingly fly under the radar. In the case of Agoras, it is a solution built on top of Tau-Chain, which aims to allow users to implement virtually any peer-to-peer network. Agoras looks to improve upon this concept by being a “smart currency”.
To understand Agoras, we first need to explain the Tau-chain principle. That particular ecosystem is a generalization of many centralized and decentralized peer-to-peer networks including blockchain ventures. It has many different use cases ranging from software development to gaming and even decentralized storage. Agoras is an application running over Tau and offers a smart currency with a strong focus on peer-to-peer contracts.
While Agoras has all of the benefits of Tau-Chain, it also seeks to improve upon the existing concept. Becoming a smart currency will not happen overnight unless there is some solid technology to make this happen. Agoras benefits from smart contract technology, which operates in true peer-to-peer fashion.
For corporations, Agoras is a solution worth exploring. Companies often want to keep things private, and the smart contracts designed to accommodate such transactions are sufficient to make that happen. Agoras wants to focus on meaningful smart contracts first and foremost. This means these agreements will always adhere to predetermined settings and requirements, without any surprises for either party.
Additionally, Agoras will be more than just a currency. Renting computational resources, building a trustless ecosystem and introducing a decentralized and incentivized search engine are some of the options currently being explored by the team. It’s quite a tall order, though, and it remains to be seen whether or not the team can deliver on all of these promises.
Once all of the technology is in place, Agoras Tokens – or AGRS – will be used to pay for all services and products offered in the various markets. It is also the main currency for all peer-to-peer smart contracts issued in this ecosystem. Bills are automatically settled once work is complete and verified. It is possible other use cases will be added for AGRS in the future, especially once the project matures a bit.
It is evident the future of Agoras is closely entwined with what Tau-Chain will bring to the table in the future. Beyond getting this token added to more exchanges, the team is hard at work building up the infrastructure. For now, the Tau-Chain roadmap involves finalizing the Tau Meta Language, releasing an alpha build of the ecosystem, and potentially releasing a beta later this year. Once all of those tasks are completed, the focus will shift toward further advancing the Agoras Tokens project as well.
South Korea’s crypto exchanges are in line to pay 24.2% tax on revenues worth $650 mln, says the government. #NEWS
South Korea’s crypto exchanges are in line to pay 24.2% tax on revenues worth $650 mln, says the government. #NEWS
Coincheck resumed withdrawals of Japanese yen on February 13, but withdrawals of virtual currencies such as bitcoin remain restricted and a resumption date is still undecided, the exchangesaid at a news conference on February 13. It can be assumed there is a large number of people seeking to sell the virtual currency they have … Continue reading Keep a close eye on the low bitcoin price at Coincheck exchange
The post Keep a close eye on the low bitcoin price at Coincheck exchange appeared first on NewsBTC.
Coincheck resumed withdrawals of Japanese yen on February 13, but withdrawals of virtual currencies such as bitcoin remain restricted and a resumption date is still undecided, the exchangesaid at a news conference on February 13.
It can be assumed there is a large number of people seeking to sell the virtual currency they have deposited with Coincheck based on the assumption that there were many beginner investors among users and remains uncertain when withdrawals can resume. Let’s see how this can affect the market price.
First, let’s estimate bitcoin deposit assets in the Coincheck exchange. When it was hacked, Coincheck had \58 billion worth of NEM tokens. Using this amount as a standard, Coincheck can be estimated to have been handling about \1.5 trillion in bitcoin deposits (about 1.3 million bitcoin at the January 31 market rate).
Based on the following conditions, Coincheck’s February bitcoin balance can be estimated to be about 600,000considering on its balance at February 14 and the estimation of it having handled assets of 1.3 million bitcoin.
Estimated Coincheck bitcoin asset balance: \1.5 trillion yen = 1.3 million bitcoin (*1)
Coincheck January balance: 1.24 million bitcoin (*2)
Estimated Coincheck February balance: Approx. 600,000 bitcoin (*3)
*1:January 31 bitcoin price
*2: Bitcoin Japanese data site
*3: Estimate based on figures available as of February 14
If, for example, the entire outstanding balance of 1.3 million bitcoin was sold, it would possibly affect the bitcoin price until the end of March as the sale would probably need about two months based on the estimated balance. It may take about one week less considering that about 140,000 bitcoin were sold from the time Coincheck was hacked until the end of January.
If Coincheck is able to move on by selling only 50% of its bitcoin deposits and the sales made until the end of January are taken into account, pressure to sell would be just about coming to an end, and pressure from the market to sell may recede. As of 1:30 p.m. on February 15, Coincheck’s bitcoin/yen price was \998,811 against Fisco’s virtual currency exchange price of \ 1,064,510.
Naturally, if Coincheck resumes virtual currency withdrawals, the price difference with other markets will be eliminated, so there’s a need to keep a close eye on Coincheck’s service trends going forward.
The post Keep a close eye on the low bitcoin price at Coincheck exchange appeared first on NewsBTC.
Messaging app provider Telegram has raised an initial $850 million in its controversial initial coin offering (ICO), according to a public document.
Messaging app provider Telegram has raised an initial $850 million in its controversial initial coin offering (ICO), according to a public document.
New blockchains are born all the time. Bitcoin was the lone blockchain for years, but now there are hundreds. The problem is, if you want to use the features offered on another blockchain, you have to buy the tokens for that other blockchain.But all…
New blockchains are born all the time. Bitcoin was the lone blockchain for years, but now there are hundreds. The problem is, if you want to use the features offered on another blockchain, you have to buy the tokens for that other blockchain.
But all that may soon change. One developing technology called sidechains promises to make it easier to move tokens across blockchains and, as a result, open the doors to a world of possibilities, including building bridges to the legacy financial systems of banks.
In October 2017, Aggelos Kiayias, professor at the University of Edinburgh and chief scientist at blockchain research and development company IOHK; Andrew Miller, professor at the University of Illinois at Urbana-Champaign; and Dionysis Zindros, researcher at the University of Athens, released the paper “Non-Interactive Proofs of Proof-of-Work” (NiPoPoW), introducing a critical piece to the sidechains puzzle that had been missing for three years. This is the story of how they got there.
But, first, what exactly is a sidechain?
A sidechain is a technology that allows you to move your tokens from one blockchain to another, use them on that other blockchain and then move them back at a later point in time, without the need for a third party.
In the past, the parent blockchain has typically been Bitcoin, but a parent chain could be any blockchain. Also, when a token moves to another blockchain, it should maintain its same value. In other words, a bitcoin on an Ethereum sidechain would remain a bitcoin.
The biggest advantage of sidechains is that they would allow users to access a host of new services. For instance, you could move bitcoin to another blockchain to take advantage of privacy features, faster transaction speeds and smart contracts.
Sidechains have other uses, too. A sidechain could offer a more secure way to upgrade a protocol, or it could serve as a type of security firewall, so that in the event of a catastrophic disaster on a sidechain, the main chain would remain unaffected. “It is a kind of limited liability,” said Zindros in a video explaining how the technology works.
Finally, if banks were to create their own private blockchain networks, sidechains could enable communications with those networks, allowing users to issue and track shares, bonds and other assets.
Early dialogue about sidechains first appeared in Bitcoin chat rooms around 2012, when Bitcoin Core developers were thinking of ways to safely upgrade the Bitcoin protocol.
One idea was for a “one-way peg,” where users could move bitcoin to a separate blockchain to test out a new client; however, once those assets were moved, they could not be moved back to the main chain.
“I was thinking of this as a software engineering tool that could be used to make widespread changes,” Adam Back, now CEO at blockchain development company Blockstream, said in an interview with Bitcoin Magazine. “You could say, we are going to make a new version [of Bitcoin], and we think it will be ready in a year, but in the meantime, you can opt in early and test it.”
According to Back, sometime in the following year, on the Bitcoin IRC channel, Bitcoin Core developer Greg Maxwell suggested an idea for a “two-way peg,” where value could be transferred to the alternative chain and then back to Bitcoin at a later point.
A two-way peg addressed another growing concern at the time. Alternative coins, like Litecoin and Namecoin, were becoming increasingly popular. The fear was these “altcoins” would dilute the value of bitcoin. It made sense, Bitcoin Core developers thought, to keep bitcoin as a type of reserve currency, and relegate new features to sidechains. That way, “if you wanted to use a different feature, you wouldn’t have to buy a speculative asset,” said Back.
To turn the concept of sidechains into a reality, Back along with Maxwell and a few other Bitcoin Core developers formed Blockstream in 2014. In October that year, the group released “Enabling Blockchain Innovations with Pegged Sidechains,” a paper describing sidechains at a high level. Miller appears as a co-author on that paper as well.
One important component of sidechains is a simplified payment verification (SPV) proof that shows that tokens have been locked up on one chain so validators can safely unlock an equivalent value on the alternative chain. But to work for sidechains, an SPV proof has to be small enough to fit into a single coinbase transaction, the transaction that rewards a miner with new coins. (Not to be confused with the company Coinbase.)
At the time the Blockstream researchers released their paper, they knew they needed a compressed SPV proof to get sidechains to work, but they had not yet developed the cryptography behind it. So they outlined general, high-level ideas.
The Blockstream paper describes two types of two-way pegs: a symmetric two-way peg, where both chains are independent with their own mining; and an asymmetric two-way peg, where sidechain miners are full validators of the parent chain.
In a symmetric two-way peg, a user sends her bitcoins to a special address. Doing so locks up the funds on the Bitcoin blockchain. That output remains locked for a contest period of maybe six blocks (one hour) to confirm the transaction has gone through, and then an SPV proof is created to send to the sidechain.
At that point, a corresponding transaction appears on the sidechain with the SPV proof, verifying that money has been locked up on the Bitcoin blockchain, and then coins with the same value of account are unlocked on the sidechain.
Coins are spent and change hands and, at a later point, are sent back to the main chain. When the coins are returned to the main chain, the process repeats. They are sent to a locked output on the sidechain, a waiting period goes by, and an SPV proof is created and sent back to the main blockchain to unlock coins on the main chain.
In an asymmetric two-way peg, the process is slightly different. The transfer from the parent chain to the sidechain does not require an SPV proof, because validators on the sidechain are also aware of the state of the parent chain. An SPV proof is still needed, however, when the coins are returned to the parent chain.
In a sidechain, a compact SPV proof needs to contain a compressed version of all the block headers in the chain where funds are locked up from the genesis block through the contest period, as well as transaction data and some other data. In this way, an SPV proof can also be thought of as a “proof of proof-of-work” for a particular output.
Inspiration for the compact SPV proof comes from a linked-list-like structure known as a “skip list” developed 25 years ago. In applying this structure to a compact SPV proof, the trick was in finding a way to skip block headers while still maintaining a high level of security so that an adversary would not be able to fake a proof.
In working through the problem, Blockstream showed an early draft of its sidechains paper to Miller, who had been mulling over compact SPVs for a few years already.
In August 2012, in a post on a BitcoinTalk forum titled “The High-Value-Hash Highway,” Miller described an idea for a “merkle skip list” that a Bitcoin light client could use to quickly determine the longest chain and begin using it. In that post, he described the significance of the data structure as “absolutely staggering.”
When Miller read through the Blockstream draft, he spotted a vulnerability in the compact SPV proof described in the paper. Discussions ensued, but they “couldn’t find a way to solve that problem without compromising efficiency,” Miller said.
Miller’s non-trivial contributions to the Blockstream paper ended up being a few paragraphs in Appendix B that describe the challenges in creating a compact SPV proof.
It should “be possible to greatly compress a list of headers while still proving the same amount of work,” the section reads, but “optimising these tradeoffs and formalising the security guarantees is out of scope for this paper and the topic of ongoing work.”
That ongoing work remained stuck for three years.
During that ensuing time, researchers at IOHK began taking a more serious interest in sidechains. Plans were taking shape for Cardano, a new proof-of-stake blockchain that IOHK had been contracted to build.
Cardano would consist of two layers: a settlement layer, launched in September 2017, where the money supply would be kept, and a smart contract layer. Those two layers would be two sidechain-enabled blockchains. In this way, the settlement could remain simple and secure from any attacks that might occur on the smart contract layer. But if IOHK was to get Cardano to work as intended, it needed to solve sidechains.
In February 2016, Kiayias, then a professor at the University of Athens, and two of his students, Nikolaos Lamprou and Aikaterini-Panagiota Stouka, released “Proofs of Proofs of Work with Sublinear Complexity” (PoPoW).
The paper was the first to formally address a compact SPV proof. Only, the proof described in the paper was interactive; whereas, to work for sidechains, it needed to be non-interactive.
In an interactive proof, the prover and the verifier enter into a back-and-forth conversation, meaning there could be more than one round of messaging. In contrast, a non-interactive proof would be a simple, short string of text that would fit neatly into a single transaction on the blockchain.
The PoPoW paper was presented at BITCOIN’16, a workshop affiliated with the International Financial Cryptography Association’s (IFCA) Financial Cryptography and Data Security conference. Miller, who was at the conference, approached Kiayias and shared an idea for making the protocol non-interactive.
It was a “nice observation,” Kiayias told Bitcoin Magazine, but making the proof secure was “not obvious at all” and would require significant work.
Zindros, who had just started working on his PhD under Kiayias, was also at the conference, and he needed a topic for his thesis. Kiayias saw a good fit, “so we pressed on, the three of us, and adapted the PoPoW protocol and its proof of security to the non-interactive setting,” Kiayias said.
In October 2016, Kiayias officially joined IOHK, and a year later, Kiayias, Miller and Zindros released “Non-Interactive Proofs of Proof-of-Work,” introducing a compact SPV proof five years after sidechains had first been talked about on Bitcoin forums.
“If it were interactive, I don’t know if it would have worked; with a non-interactive proof, it is really smooth,” Zindros told Bitcoin Magazine.
Even with NiPoPoW, sidechains are still not fully specified. Several questions remain, including, how small can the proofs be made? After a transaction is locked up on one chain, how much time needs to pass before it can be spent on the other? And, will it be possible to move a token from a sidechain directly to another sidechain?
“A lot of theory still needs to be defined,” IOHK CEO Charles Hoskinson said in speaking to Bitcoin Magazine.
Also, while NiPoPoW is designed to work for proof-of-work blockchains, some believe that if blockchains are to take their place in the world on a grand scale, the future rests in proof-of-stake protocols like Ouroboros, Algorand or Snow White, which promise to be more energy-efficient than Bitcoin.
In particular, if Cardano, which is based on Ouroboros, is to work according to plan, IOHK researchers still need to discover a non-interactive proof of proof-of-stake (NiPoPoS).
Hoskinson is confident. “We can definitely do that,” he said. “We can definitely have a NiPoPoS. The question is how many megabytes or kilobytes is it going to be? Can we bring it down to 100 KB? That is really the question.”
This article originally appeared on Bitcoin Magazine.
Chinese PC company explores Blockchain technology for document validation in US patent application. #NEWS
Chinese PC company explores Blockchain technology for document validation in US patent application. #NEWS
We live in a time when there are hundreds upon hundreds of cryptocurrencies to choose from and learn about. A recent comment on a post of mine mentioned a cryptocurrency called Gulden that I had not heard of before, and I was intrigued to learn more about it. Thanks to Arjan Stam for sharing your cryptocurrency story and inspiring me to learn about Gulden. What is Gulden? On its surface, Gulden is a cryptocurrency aiming for greater adoption by targeting the most elusive market for cryptocurrencies yet: average, daily users. Gulden users are able to send Gulden peer-to-peer, wire money to banks if
We live in a time when there are hundreds upon hundreds of cryptocurrencies to choose from and learn about. A recent comment on a post of mine mentioned a cryptocurrency called Gulden that I had not heard of before, and I was intrigued to learn more about it. Thanks to Arjan Stam for sharing your cryptocurrency story and inspiring me to learn about Gulden.
On its surface, Gulden is a cryptocurrency aiming for greater adoption by targeting the most elusive market for cryptocurrencies yet: average, daily users. Gulden users are able to send Gulden peer-to-peer, wire money to banks if they know the IBAN, and use it where merchants accept it. Its website also claims that users can see a “very healthy return” since “with every new user the value of Gulden goes up.” Later it does concede that the price fluctuates with demand, as is the case with any asset. That said, the cryptocurrency has apparently found a fair amount of success within the Netherlands, hence its ticker symbol NLG.
Its whitepaper outlines many of the well-known critiques of Bitcoin, the various attempts to solve these shortcomings, then offers itself as the solution to these problems. At the core of solving these problems is something that Gulden calls “PoW2,” and the whitepaper explains how it works. There are two distinct kinds of miners in PoW2, PoW miners and PoS miners. Blocks are mined via PoW, which everyone is familiar with, and once a block is discovered, it is submitted to the network for nodes to validate. However, it is not yet added to the blockchain and remains in a state the whitepaper calls “pre-witnessed.” It only is written to the blockchain once it has been witnessed and signed off on by one of the witnesses. Where this is different from other hybrid models is that PoS witnesses who sign off can add transactions to the block they are signing, which they can collect fees from. This is done to ensure efficiency on the network so that blocks are as close to full as possible. It attempts to mitigate selfish mining, wasted space, and denial of service. Due to potential complexities, witnessing is opt-in.
It seems like a really interesting concept that attempts to fix the problems characteristic of Bitcoin and other blockchain assets. However, even with the cleverness and thorough nature of its whitepaper, it still ranks in the 200s on CoinMarketCap. This is nothing to scoff at, I realize, but it is far from realizing its goal of fixing the problems of many of the coins that outrank it. I was also disappointed to learn that, while it has found some success in the Netherlands, many merchants still do not accept it or know about it, as evidenced (if only anecdotally) by the comment which inspired this article.
I will say that I am terribly impressed with how the system allows 1-2 confirmations to be secure. Waiting for 3-6 confirmations on other chains can be exhausting, depending on the blocktimes.
Are you a Gulden user? How do you like it? Are there other cryptocurrencies you would like us to write about as well? Let us know in the comments section!
A prominent alternative to the ethereum blockchain is showing signs of building a higher base amid a period of strong market activity.
A prominent alternative to the ethereum blockchain is showing signs of building a higher base amid a period of strong market activity.
Omise, the popular blockchain-oriented company, recently signed a Memorandum of understanding with ETDA. This Thai government agency will collaborate with Omise on building a national eKYC portal. It is the first venture of its kind to become available in Thailand. Both entities will focus on exchanging information, experience, and technical information. This MoU was signed … Continue reading Omise and ETDA Sign MoU to Improve Thailand’s Digital ID Program
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Omise, the popular blockchain-oriented company, recently signed a Memorandum of understanding with ETDA. This Thai government agency will collaborate with Omise on building a national eKYC portal. It is the first venture of its kind to become available in Thailand. Both entities will focus on exchanging information, experience, and technical information.
This MoU was signed by both parties in Thailand earlier today. The new venture will primarily focus on coming up with new use cases for blockchain technology. Digital identity solutions are of great interest to ETDA. Given the country’s focus on digital society and economy, the infrastructure will need to evolve sooner rather than later. By partnering with Omise, a new digital identity authentication and verification platform will be built in the near future.
Omise has built up a reputation as a company focus on computer programs. They also branched into the world of online payments through the OmiseGo venture. With this new focus on digital identity verification and authentication, the company takes another major step forward. This new system will be used for online and publicly accessible online transactions in Thailand, in accordance with the current laws. Supporting online transactions will lead to cheaper, faster, and more efficiency down the line.
For Omise, a cooperation with the private sector is a big milestone. It also confirms Thailand’s focus on improving their National ID Program for Verification Services. With a transition to electronic solutions, blockchain technology seems like a logical solution. ETDA will manage the development of this system and ensure it complies with international standards. Both parties will benefit from this Memorandum of Understanding and help shape the future of digital services in Thailand.
#Omise official announcement of today MOU with ETDA. #OmiseGO #eKYC https://t.co/PLimbDNsL4
— JUNΞ (@JUN_Omise) February 19, 2018
The digital verification platform being built will benefit Omise’s focus on digital payments as well. Before their service can be used, users need to verify their identity first and foremost. Omise will have a big role to play in this regard, as they will be responsible for screening consumers, businesses, and agencies alike. The use of blockchain technology will also prevent any information from being misused and deter fraud.
Considering how this is the first digital identity provider venture in Thailand, it is a pretty big deal for all companies involved. The Thai government expects to see this kind of cooperation extend well beyond digital identity as well. It is unclear if that means they have high hopes for Omise specifically, but more details will become apparent in the future. A collaboration between the public and private sector is the right way forward to achieve solutions which will benefit the general public.
The post Omise and ETDA Sign MoU to Improve Thailand’s Digital ID Program appeared first on NewsBTC.
Vitalik Buterin angry as crypto “scams” see continued success throughout the world. #NEWS
Vitalik Buterin angry as crypto “scams” see continued success throughout the world. #NEWS
Banking and blockchain seem to be a match made in heaven as no other ledger technology can come par with blockchain and its incorruptible capability. Ever since Bitcoin was launched in 2009 and the world got to know about the working of cryptocurrency, there have been attempts to incorporate the tech into the current banking sector with fiat currencies. Disclosure: This is a Sponsored Article Different cryptocurrencies were also launched to aid this new era of secure banking including Ripple XRP and the Chinese government is considering going blockchain for its national bank and currency. But the application of blockchain
Banking and blockchain seem to be a match made in heaven as no other ledger technology can come par with blockchain and its incorruptible capability. Ever since Bitcoin was launched in 2009 and the world got to know about the working of cryptocurrency, there have been attempts to incorporate the tech into the current banking sector with fiat currencies.
Disclosure: This is a Sponsored Article
Different cryptocurrencies were also launched to aid this new era of secure banking including Ripple XRP and the Chinese government is considering going blockchain for its national bank and currency. But the application of blockchain despite its amazing capability have been limited so far because of various reasons. Governments as we know aren’t capable of adopting a revolutionary technology that easily. So, it is logical that the private sector come in play for this crucial development in banking.
Bankera, a decentralized blockchain-based banking startup has recently acquired the operations of Pacific Private Bank Limited (PPBL) in Vanuatu island located in the Pacific Ocean. Bankera aims to make the PPBL the test bed of its innovative blockchain solutions and will leverage the technology in the near future while making the bank an independent company in separation with the original startup.
The opportunity to directly implement blockchain-based ledger technology into a running fiat-currency bank is the key for the mass adoption of the technology. The PPBL was founded in 1997 and has since specialized in asset and wealth management services for clients around the world. The manpower of the bank is extremely skilled and the IT sector has ensured a solid base for the bank to build on for many years.
This is crucial for Bankera as it aims to leverage Blockchain technology to provide even better experience for its users. The Blockchain startup is also developing a unique one-stop shop for everything related to Blockchain financial services. Quite simply through this successful test tube implementation, Bankera aims to become the number one provider of Blockchain banking around the world.
Although the bank has been acquired, it will continue to operate separately from the Bankera platform. It will continue working with fiat-based institutions and engage with its customers. So, there is no question of being harmed as part of a Bblockchain experiment for the users. For implementation of the Bankera platform’s features, a pilot project is expected to start ahead of schedule by the team.
The first step is to connect the PPB to the Ripple network which will enable cross border transactions. Leading banks like Santander, UniCredit, UBS and Standard Chartered are already interested in the developments. Bankera is an operational fork of the SpectroCoin, an all-in-one solution for cryptocurrencies that has over 700,000 clients during its five years in existence.
The Bankera TGE is live right now. More than 3.4 billion of the total 4 billion hard cap of BNK tokens has already been purchased by backers. The wallet capability is already completed and live. The TGE will continue till the end of February 2018. A banking license is expected to be acquired by early 2019.
To find out more, visit the website: https://bankera.com/
A lot of interesting things are happening across all cryptocurrency markets as of right now. Even though it remains to be seen if things will turn bullish or bearish again, we see a few altcoins improve upon here BTC ratio. As a result, the NEO price is moving back up a bit and now has a value of just over $135. With the Bitcoin price also rising slightly, it is evident the NEO price may head to $140 or possibly a bit higher in the days to come. NEO Price Notes Modest Gains Although the NEO price is not necessarily
A lot of interesting things are happening across all cryptocurrency markets as of right now. Even though it remains to be seen if things will turn bullish or bearish again, we see a few altcoins improve upon here BTC ratio. As a result, the NEO price is moving back up a bit and now has a value of just over $135. With the Bitcoin price also rising slightly, it is evident the NEO price may head to $140 or possibly a bit higher in the days to come.
Although the NEO price is not necessarily the most exciting market right now, it does note bigger gains than most other currencies in the top 10 right now. A 4.22% increase in value over a 24-hour period is nothing to get overly excited about, yet it does show big things may start to happen for altcoins in the near future. Some more activity in that department can only be considered to be a good thing, as cryptocurrency is about much more than just Bitcoin.
With this 4.22% gain in USD value, the NEO price retakes the $135 level without any real problems. Although this same price point has been reached multiple times in the past week, the NEO price never succeeded in holding onto it for very long. Its latest rejection even sent the NEO price back to $127 for a brief period. There’s some good money to be made when timing the dips and highs right, although the profits aren’t stellar by any means.
There is also a slight improvement in the NEO/BTC ratio to take note of. While this 1.85% increase in favor of the altcoin is rather minimal, it’s also partially responsible for the NEO price increase. If altcoins can go up in USD and BTC value even when the Bitcoin price is rising, things will get very interesting in the weeks to come. For now, it seems $135 will be a proverbial glass ceiling for the NEO price, as there’s a lot of pressure to keep the total cryptocurrency market cap below $500bn, by the look of things.
With $185.39m in 24-hour trading volume, NEO is one of the more liquid altcoin markets as of right now. Although it doesn’t come close to Ethereum or XRP, it’s still a lot better than other top 15 coins can bring to the table right now. This recent slump in overall cryptocurrency trading volume has been rather worrisome, especially when considering how it also includes the South Korean trading volume again.
Speaking of South Korean exchanges, Upbit is leading the charge in terms of NEO trading volume. With its $33.89m, the platform is well ahead of Coinegg and Binance. There’s a second Binance pair in fourth position, followed by Bitfinex’s NEO/USD market. While just two fiat currency pairs in the top five is not all that great, it’s more than sufficient to keep this NEO price push going for a few more hours.
Whether or not we will see future fireworks in the NEO price department, remains to be seen. It is certainly possible we will see some more shakeups in the coming days and weeks, but the current market volatility will spoil all profit parties sooner or later. For now, taking profits and waiting for the next dip is always a viable strategy, regardless of which currency you are trading.
Exuberant investor Gregg Kidd outlines his plans for Uphold, a profitable crypto startup that’s largely flown under the radar until now.
Exuberant investor Gregg Kidd outlines his plans for Uphold, a profitable crypto startup that’s largely flown under the radar until now.
Bitcoinist |
Bitcoin Breaks $11k As New Support Forms And Analysts Turn Bullish
Cointelegraph (Bitcoin, Cryptocurrency and Blockchain News) Monday, Feb. 19: the Bitcoin price has surpassed $11,000 twice since Sunday as bullish sentiment returns to markets and new support begins to form. Data from Cointelegraph’s price index shows a BTC/USD journey to a high of $11,190.10 Feb. 18, followed … Bitcoin takes fresh aim at $11000MarketWatch Bitcoin Price: Will Bullish ‘Flip’ Finally Clear $11K Hurdle?Bitcoinist |
Bitcoinist | Bitcoin Breaks $11k As New Support Forms And Analysts Turn Bullish Cointelegraph (Bitcoin, Cryptocurrency and Blockchain News) Monday, Feb. 19: the Bitcoin price has surpassed $11,000 twice since Sunday as bullish sentiment returns to markets and new support begins to form. Data from Cointelegraph's price index shows a BTC/USD journey to a high of $11,190.10 Feb. 18, followed ... Bitcoin takes fresh aim at $11000 Bitcoin Price: Will Bullish 'Flip' Finally Clear $11K Hurdle? |