Day: September 3, 2018

New research shows that Chinese e-commerce giant Alibaba and U.S. tech firm IBM have filed the most blockchain-related patent filings of any entity globally to date

Mondays are usually an interesting indicator for cryptocurrency prices throughout the rest of the week. The TRON price is still struggling to recover some losses, albeit the recent positive news should help in this process once speculators begin to take notice. When that will happen exactly, remains to be determined.

TRON Price Begins Looking Up

The overall TRON price momentum may not look too impressive to most people. It has regained some of yesterday’s losses, although overcoming the entire deficit has proven to be a struggle. Not abnormal, as there is still a 3.09% decrease in USD value over the past 24 hours. Overcoming this big deficit will take a few more hours, at the least.

One thing worth noting is how this current TRON price momentum is not in line with recent ecosystem developments. In fact, there are many positive things happening for TRON as of late. Its recent acquisition of BitTorrent Inc shows the project is firing on all cylinders in terms of decentralizing the Internet and its underlying protocols as people know them today.

Furthermore, it would appear the TRON transaction volume is increasing quite spectacularly August has been a very strong month for this particular cryptocurrency, according to statistics shared by TRX Colony. According to the details, the average number of daily transactions for TRON has continued to increase. Due to this ongoing growth, the daily average number of transactions is nearly equal to one-third of Ethereum’s throughput.

$TRX started Aug. with only 30,100 transactions a day. By the end of the month the avg. # of daily transactions was NEARLY 1/3 that of $ETH. #TRON is the fastest growing coin, this rocket ain't stopping for anyone #trx #tronfam pic.twitter.com/qfqzS3CNSw

— TRX Colony (@TronColony) September 1, 2018

To cap off the positive TRON developments, developers recently introduced the TRON Virtual Machine in late August. It will achieve new developments for this blockchain ecosystem and further highlight the potential of what this project has to offer. Incorporating all current and future technological developments into the virtual machine will remain an ongoing project as time progresses.

Despite these positive changes, it would appear the overall TRON trading volume is not looking all that strong. Considering this is the first day after a weekend, it is expected the overall volume will increase in the coming days. All of this positive momentum is destined to push the TRON price back in the green and above the $0.026 mark.

The cryptocurrency markets are still recovering from a slight setback over the past weekend. It is evident there is still plenty of positive momentum waiting to be tapped, and some of it will undoubtedly spill over to the TRON price as well. For the time being, investors need to remain patient, as these are still the early hours of a new week of cryptocurrency trading. Things can look very different in a few hours from now, either for better or worse.

CoinDesk

Bitcoin Price Faces Minor Drop as Bulls Run Out of Steam CoinDesk Bitcoin (BTC) could revisit the psychological support of $7,000 as the recent rally is showing signs of exhaustion, according to technical studies. At press time, the cryptocurrency is changing hands at $7,235 on Bitfinex – representing a 0.4 percent ...

Social media influencers are playing an ever-greater role in the online promotion of brands.  Indeed, according to research from 2017, 92% of the brands that were surveyed found influencer marketing to be effective in achieving goals, while half the respondents claimed that influencer-made content performed better than that produced by the brands themselves. Unsurprisingly, some businesses and influencers are turning to blockchain technology to target consumers more effectively and bring additional security and transparency to the field.

Japan-based PATRON is aiming to transform the world of influencer-based marketing, and in Tokyo this week it announced several new initiatives to help achieve this.

What is PATRON?

Company publicity material describes PATRON as an ‘influencer’s sharing economy platform’, on which influencers and social media users worldwide can publish, discover, reserve or sell influencer data via web and mobile. PATRON, a subsidiary of Extravaganza International Inc., is certainly ambitious, hoping to make its own brand as big as US tech giants such as Apple, Google and Facebook.

PATRON conducted a successful token sale earlier this year, raising $40 million in the process, and recently attracted media attention for teaming up with leading US-based influencers, including Saweetie. In addition, Forbes ran a feature on PATRON in July, naming it the number one blockchain company to watch. PATRON’s cryptocurrency is called PAT.

Exchange Listings

According to PATRON, its ‘leadership team’ has selected five cryptocurrency exchanges to list its PAT tokens, helping to increase userbase, liquidity and transaction volume. The exchanges are: Hotbit, Extrates, Yobit, Changelly, and LATOKEN. The company has also stated its intention to list on major South Korean exchange, Kucoin in a matter of weeks. The PAT currency is also is also a contender for listing on CoinEx.

Token Buy-Back Scheme and Coin Burn

PATRON is aiming to launch a mainnet between late September and October. This potentially requires a platform change, with a token swap to ensure compatibility. PAT token holders will be informed and given instructions to follow in the event of a switch from Ethereum to another blockchain platform. The developers say that the PATRON team will also conduct a buyback and coinburn (including from the board of directors’ pool) of PAT tokens, as requested by the PAT community.  These actions will assist with liquidity and increase the value of PAT.

2018 Crypto Finance Conference

The PATRON team will be at the Crypto Finance Conference, which is taking place in California from September 5th to 7th at the Ritz Carlton at Laguna Niguel.  PATRON CEO Atsushi Hisatsumi is booked as a guest speaker.

Moving Forward

Given the vast size of the online shopping market and the increasing effect of influencers on consumer sales, if PATRON lives up to its own hype and manages to revolutionize the world of influencer-based marketing, it should find itself in an enviable position, and well-placed to benefit from future consumer trends.

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Bitcoin could be in for a minor price pullback as the short-duration charts are flashing signs of bullish exhaustion.

Fibonacci retracements are a common mathematical tool used when trading to predict resistance and support levels. They operate under the principle that markets retrace a predictable amount before continuing in the direction of the long-term trend.

Easy to use and built into many trading chart analysis apps, like Bitcoinwisdom, understanding and using Fibonacci retracements can make you a better and more profitable Bitcoin trader.

In order to do a Fibonacci retracement, you find Bitcoin’s lowest price and highest price during a set period of time, known as swing low and swing high. To find support levels, the swing low is clicked on, and then you click on the swing high, and the software generates support levels. This is done by taking the distance between the swing low and swing high and dividing it by numbers in the Fibonacci sequence, yielding 100%, 78.6%, 61.8%, 50%, 38.2%, 23.6%, and 0% support levels. When viewing Bitcoin price data with these support levels overlaid, they are remarkably accurate and temporarily act as support levels for Bitcoin’s price.

The Fibonacci sequence is 1, 1, 2, 3, 5, 8, 13, 21, 34, 55, and so on and so forth. The pattern is that each number is the sum of the two previous numbers. The sequence is related to the golden ratio and appears throughout nature since it is a mathematical approximation of fractals.

Essentially, with the Fibonacci sequence, the long-term Bitcoin price trend can be broken down into smaller price movements, since the sequence can be used to elucidate the fractal nature of Bitcoin price movements. Bitcoin’s price movement is comprised of a series of smaller and bigger waves overlaid on each other, and Fibonacci retracements approximate how much the price will move from those waves.

In order to find resistance levels, the swing high is connected to the swing low, and the Fibonacci retracement software shows levels that Bitcoin’s price has a hard time breaking through, with remarkable accuracy. Resistance levels are somewhat of an inverse of the support levels, with the 100% support level at the bottom of the chart having 0% resistance.

 

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Sequencing the world: blockchain and the future of genomics

The developers of blockchain gaming platform TriForce Tokens has been completely absorbed in building its Minimum Viable Product (MVP) since its early token offering of FORCE tokens. This effort is purely focused on creating utility value for FORCE.

Meanwhile, the ever evolving crypto space has led to TriForce Tokens to rebalance its objectives towards building itself up as a games publishing framework. In doing this, it hopes to create real-world use-cases for blockchain gaming, running up to a final public token sale on October 8th, 2018. Via its own blockchain, TriForce will serve the games industry and do away with transaction fees.

The company will release their latest documents detailing all these changes on August 31st, 2018.

A final private token sale will be offered on September 3rd, 2018, restricted to the initial soft cap of $3 million, with $460,000 already secured towards that goal. TriForce welcomes accredited investors with interest and encourages them to be in contact.

Introducing Blockchain Dynamic Advertising

The latest MVP being worked on is the Dynamic Advertising Platform for non-intrusive ads in game. These feature fully automated and near-autonomous ad placements, allowing advertisers to virtually brand any game object, texture, image or video within seconds.

Brands benefit from immutable data with live tracking and instant on/off toggling for full insight into ad performance. CEO Pete Mardell recently shared a video demo highlighting the fully operational tech used in Spain for Dominoes and AXN live campaigns. This initial platform is available to advertisers at Raidparty.io, and game listing for studios is available at the company’s studio site.

 

While yet to be ported to blockchain, the benefits are apparent. Advertisers can verify genuine placement to intended targets, with decentralization leading to more security and network functionality without down time. Advertisers need not transact with third-parties to ensure spending validity. Additionally, digital currency can be transferred to contractually approved parties as a way of sharing revenue.

TriForce Tokens is also working on other MVPs, including a games marketplace and a player reward platform which together can form the basis of a tech-enhanced games publishing framework.

Strength in Partnerships

Ever since its inception, TriForce Tokens has recognized the need for strong advocates and relevant voices in the gaming and technology industries. As such, it has forged strategic partnerships to further strengthen its market position via partner resources and community presence.

In one of its more notable partnerships, TriForce Tokens has partially acquired publishing studio TheGameWall Studios, essentially making it TriForce’s publishing arm. This should translate to a huge increase in network influence, allowing it to take on publishing agreements with the release of new games.

A growing list of gaming assets

Since launching its player rewards platform RaidParty, the company has amassed an impressive collection of assets in the form of games. While initially focusing on mobile, it is now working with new released on PC to diversify its assets with titles such as Eximius: Seize The Frontline.

This first-person RTS hybrid was designed for e-Sports and will be launched in September 2018. Those interested to be involved can follow the developments on their discord channel, Twitter, Telegram and Facebook.

To learn more about TriForce Tokens, visit the official website or sign up with RaidParty to win free FORCE tokens.Follow BitcoinNews.com on Twitter: @bitcoinnewscom

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Major Chinese and American firms are leading a global blockchain push, with Alibaba and IBM having filed around 90 patents each relating to the tech.

newsBTC

Bitcoin Price Watch: BTC/USD Correcting Gains After Hitting $7300 Target newsBTC In the weekly analysis, we discussed that bitcoin price could hit the $7,300 level against the US Dollar. The BTC/USD pair did move higher and broke the $7,200 resistance to test the $7,300 level. It even broke the $7,300 level and traded as high as $7 ...

Key Points

• Bitcoin price traded higher and moved above the $7,300 resistance area against the US Dollar.
• There was a break below a key bullish trend line with support at $7,260 on the hourly chart of the BTC/USD pair (data feed from Kraken).
• The pair is likely to correct lower further as long as there is no close above the $7,300 resistance.

Bitcoin price climbed further higher above $7,200 against the US Dollar. BTC/USD traded above the $7,300 target and it is currently correcting lower.

Bitcoin Price Analysis

In the weekly analysis, we discussed that bitcoin price could hit the $7,300 level against the US Dollar. The BTC/USD pair did move higher and broke the $7,200 resistance to test the $7,300 level. It even broke the $7,300 level and traded as high as $7,332. The price is currently correcting lower from the $7,332 high, but it remains well above the 100 hourly simple moving average.

It recently broke the 23.6% Fib retracement level of the last leg from the $7,033 low to $7,332 high. More importantly, there was a break below a key bullish trend line with support at $7,260 on the hourly chart of the BTC/USD pair. The pair tested the $7,180 support and 50% Fib retracement level of the last leg from the $7,033 low to $7,332 high. It is currently finding bids above the $7,200 level and is moving higher. However, the broken trend line and support near the $7,300 level is likely to act as a resistance. If the price fails to surpass the $7,300 level, it could correct further lower towards the $7,110 support zone.

Looking at the chart, bitcoin is placed nicely above the $7,110 support area. There could be a few swing moves, but the price could later trade above the $7,300 and $7,332 levels in the near term.

Looking at the technical indicators:

Hourly MACD – The MACD for BTC/USD is currently in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI is just above the 50 level.

Major Support Level – $7,180

Major Resistance Level – $7,300

The post Bitcoin Price Watch: BTC/USD Correcting Gains After Hitting $7,300 Target appeared first on NewsBTC.

Dogecoin has broken the general bearish trend of the crypto markets, with a sudden and rapid rally beginning on 29 August 2018. On 26 August, Dogecoin was stable near USD 0.0023 and by 1 September it hit USD 0.0066. This represents a 187% increase for Dogecoin’s price in less than a week. Daily trading volumes approached USD 200 million during this time, unprecedented levels for Dogecoin and an indication of the speculative frenzy that was surrounding Dogecoin.

Now this rally has broken and Dogecoin has dropped 25%, back to USD 0.005, and this market behavior has some characteristics of a classic pump and dump.

Bitcoin News first covered the Dogecoin rally on 31 August when its price was USD 0.0042, which represented a sharp 80% increase. Dogecoin rallied upwards another 100% after that article was written. This was likely because news of the Dogecoin rally was getting broadcast on all the crypto media sites around that time, generating a wave of speculation and investment.

Initially, the rally began due to the launching of Dogethereum, which is like Ethereum except it has the Dogecoin brand, and everyone who held Dogecoin received free Dogethereum. This creates a big incentive for users to use Dogethereum, to create Dogecoin-themed Dapps. The Dogecoin community has always been very active on Reddit, and now they are going into a frenzy to help each other and compete while building Dogecoin Dapps.

Even though the reason for this rally is legitimate, speculation took hold and ultimately has some characteristics of a classic pump and dump. Some whales then began to dump Dogecoin around the time it hit its peak, causing the rally to stall and slightly reverse, which caused other whales to dump their holdings. This is what caused the 25% downtrend, in combination with small-time investors panicking and selling once the price began to drop.

Dogecoin’s price is still over 100% higher than it was before the rally started, so it doesn’t appear this will be a full pump and dump where the price crashes back to below where the rally started.

This is a good illustration of the wild west nature of the crypto markets. In no other type of markets are such incredible gains seen followed by such a big crash in the same week. Crypto trading volatility is higher than the volatility in any other asset class, especially when dealing with alternative cryptocurrenciess like Dogecoin. Its market will likely see continued volatility in the coming weeks and months.

 

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Nano shone bright on the back of strong volumes in August, despite an all-time low experienced mid-month.