Day: September 13, 2018

Other than ETH which is up 13 percent, Litecoin remains the last 24 hours top performer adding 12 percent. The result is that morning star pattern and rejection of bears at Aug 2018 lows at around $45-$50. Going forward, we suggest small size Litecoin buys for risk off traders with first targets at $70. Afterwards, conservative traders can pick up longs should buyers close above it.

From the News

Aside from the slide in Litecoin’s market cap, there are many developments that are supportive of Crypto—in the long run since the effect isn’t conditioned to be immediate. Spearheading this is Bittrex, the Seattle based cryptocurrency exchange and the 23^rd most liquid exchange in the world. In recent days, they have been making headlines for all the right reasons.

Through a tweet, the company said they shall be supporting LTC/USD and TRX/USD pairs beginning Sep 17 and only eligible accounts set up before Sep 4 are free to trade. Accordingly, this should buoy market participants and respective communities more so because this is a US exchange meaning there are options for LTC to benefit from extra liquidity as new investors swarm in from different states where Bittrex allow fiat trading. Remember, in their earlier announcement during the launch of ADA/USD and ZCash trading pairs, their priority was to improve quality of service and create additional channels for crypto investments.

We’re rolling out more USD pairs. On Sep 17 we’re launching US dollar (USD) markets for TRON (TRX) and Litecoin (LTC). Eligible #Bittrex accounts created before Sep 4 are already enabled for USD trading. New user or want to deposit/withdraw USD? Details: https://t.co/KA248OA2Bz pic.twitter.com/21xA8xZ4vm

— Bittrex (@BittrexExchange) September 12, 2018

In complementing news, Litecoin developers are keen on expanding and diversifying the number of secure/convenient wallets. One such idea is the creation of a web wallet that not only is easy to use but safe enough to protect user stash. It’s daring but still, if developers pull through then mass adoption would pick up since merchants and traders alike would have a trusted web wallet with Litecoin developers backing.

Litecoin (LTC) Technical Analysis

Weekly Chart

Litecoin Weekly Chart by Trading View

As the week comes to an end, Litecoin prices are stabilizing and likely to recover going forward. Notice that on a week to week basis, LTC is stable and up one percent. The end result is a clear rejection of bearish attempts pushing prices above $50.

What we have in the weekly chart is a pin bar with a long lower wick hinting of higher highs in lower time frames. Though this is driving back prices towards a consolidation, we suggest exiting LTC sell trades. Consequently, risk-on traders should adopt a neutral stand. The only time longs would be activated is once there is a conclusive LTC break and close above $70, our immediate resistance line.

Daily Chart

Litecoin Daily Chart by Trading View

Building on yesterday’s high-volume pin bar is a bullish engulfing candlestick reversing from $50, a support line. What’s significant in this is not the trade range but the level of participation. There is a follow through of Sep 12 bullish attempts. The result is a three-bar bullish reversal pattern, the Morning Star.

If anything, aggressive traders can buy LTC on pull backs in lower time frames with stops at Sep 12 lows at $45 and first targets at $70.

Disclaimer: Views and opinions expressed are those of the author and aren’t investment advice. Trading of any form involves risk and so do your due diligence before making a trading decision.

The post Litecoin (LTC) Price Analysis: A Double Bottoms Kick-starting Litecoin Recovery appeared first on NewsBTC.

A Trustnodes study says that ICO projects have sold 160,000 ETH in the past 10 days – three times the amount sold by ICOs in the whole of August

Bitcoin price volatility provides opportunities galore for high-frequency traders — at both the retail and institutional level

Morgan Stanley has become the latest Wall Street firm to venture into Bitcoin trading, with reports emerging that the investment bank intends to offer its clients derivatives tied to the crypto. Citing a source with knowledge on the matter, Bloomberg reported today, September 13 that the bank has already set up the infrastructure required for the trading and only awaits confirmation of sufficient institutional demand. Morgan Stanley follows the footsteps of other Wall Street giants such as Citigroup and Goldman Sachs which have continued to warm up to cryptos and have made strategic steps to be at the forefront of the quickly evolving industry.

The Institutional Interest Continues To Grow

Institutional interest has continued to grow as more firms recognize the great potential crypto trading has. This interest has been accelerated by the continued application of KYC and AML policies by trading platforms, making the industry more conducive for institutional investors. Morgan Stanley will join the growing pool of Wall Street firms that are making an entrance into the industry, but according to the report, it will not offer direct Bitcoin trading. Instead, the swaps will be tied to Bitcoin futures contracts.

According to the source who asked not to be identified as the information was still private, “the bank will deal in contracts that give investors synthetic exposure to the performance of Bitcoin.” Morgan Stanley will offer its clients the option to go long or short, charging a spread for each transaction. The report further reveals that the bank has already set up the infrastructure required to support Bitcoin trading and only awaits the confirmation of “institutional client demand and after the completion of an internal approval process.”

The New York-based financial services firm, which is the sixth-largest in the U.S, has been making strategic moves this year as it sought to position itself as one of the pioneers of institutional Bitcoin trading. According to the source, the bank hired Andrew Peel in June to head its digital assets markets department. Peel worked at Swiss investment bank Credit Suisse Group AG and is based in Zurich, reporting to Morgan Stanley’s head of equities trading, Niall Dowling.

Citigroup has also been positioning itself to take advantage of the increasing institutional interest, with sources indicating days ago that the bank intends to issue digital asset receipts (DARs) that will enable its clients to trade cryptos without having direct ownership of the coins. The tokens will be held by a separate custodian, with this type of trading falling under the set regulations which would give the clients a safer trading channel. It’s however unclear how the Securities and Exchanges Commission will handle DARs as the regulator has shot down a number of Bitcoin ETFs in recent months.

Goldman Sachs has also been on the news, with a report by Business Insider having initially indicated that the bank had dropped its plans to build a crypto trading desk. However, the bank’s CFO Martin Chavez came out to deny the report, calling them fake news during the TechCrunch Disrupt Conference. While the SEC is yet to approve any Bitcoin ETF, such moves by three of the largest banks in the U.S could pave an alternative method for institutional investors to invest in digital assets.

The post Morgan Stanley Ventures Into Bitcoin Trading, Following Other Wall Street Giants appeared first on NullTX.

After 8-months of consistent lower lows, altcoins are finally recovering as sellers lose steam. Evidently, not only are traders unwinding their tight sells resulting to clear recoveries in Tron, EOS and Stellar, but we might see a reversal in ADA. Cardano (ADA) is trading below it’s all time lows and bear target at 7 cents and even with solid volumes on Sep 12, bulls didn’t follow through yesterday.

Let’s have a look at these charts:

EOS Price Analysis

From the News

• HitBTC, a crypto to crypto exchange has made EOS, a base currency in a sphere that is dominated by BTC as settlement. This is definitely timely for EOS and coincides with a time when prices are turning for the benefit of coin holders. Undoubtedly, this announcement will go a long way in lifting the overall liquidity of EOS and that of the exchange boosting price as a result.

We are officially upgrading @eos_io’s EOS to a quote currency at HitBTC! EOS will be available to trade against $XRP, $LTC, $XMR, $DASH, $BCN, and many other currencies, starting from 12 September, 15:00 UTC. pic.twitter.com/h2rqidITII

— HitBTC (@hitbtc) September 12, 2018

Price Analysis

EOS Daily Chart by Trading View

A 10 percent gain in the last day means EOS prices did break above the last day consolidation. Therefore in line with our last EOS forecasts, conservatives should stay on the sidelines only until after buyers gain enough momentum to drive prices above Sep 5 shadows and $7 on the upside.

In the mean time though, risk off traders can begin initiating small volume EOS buys with stops at $4.5 and first targets at $7. This is so because of yesterday’s high volume bullish engulfing candlestick.

Tron (TRX) Price Analysis

From the News

• TRX is now available at Cobinhood and will be listed from Sep 17 at Bittrex according a tweet from the US based exchange.
• Satowallet Exchange now supports TRX and with it, users transacting using TRX will not be charged any fees while at the same time enjoying free crypto to crypto exchange within the same wallet.

Tron now fully integrated into Satowallet. Learn how to #HODL and Trade TRX with #BTC, #ETH, #DOGE #LTC and #USDT pair on Andriod, IOS and PC App .https://t.co/iNs0G73vCZ . Download Satowallet Now from https://t.co/7bOwBA5LoY #TRX #TRON #TRONIX @Tronfoundation pic.twitter.com/YphL9k3pLU

— Satowallet-Multi Crypto wallet & Exchange (@SatoWallet) September 13, 2018

Price Analysis

Tron Daily Chart by Trading View

With a double bar bull reversal pattern printing yesterday, we now have a clear double-bottoms at TRX daily chart. Because of this, we suggest exiting Sep 5 shorts and instead initiate low volume longs with immediate targets at 2.7 cents to 3 cents in the short term as we sync with our previous price forecast.

However, the only advice for now is for traders to avoid rush buys and instead risk averse traders should wait until after buyers breach and close above 3 cents and Sep 5 highs. Before then, reasonable stops for short term longs remain at Aug 14 lows at 1.6 cents.

Stellar Lumens (XLM) Price Analysis

Stellar Lumens Daily Chart by Trading View

The thing is, it is not yet ripe for traders to conclude that bulls are in charge. After all, sellers have been continuously pushing for lower prices in the last eight months and it will take a lot of effort for buyers to reverse that within days.

From the chart, not only are sellers still trading below 25 cents but the upper limit of the consolidation after Sep 5 continues to cap gains.

So, in line with our previous XLM projections, we suggest taking neutral stand until after bulls close above 25 cents.

Cardano (ADA) Price Analysis

Cardano Daily Chart by Trading View

One thing is clear: a long as ADA prices are still trending below 7 cents, the coin’s ATLs, then our sells are valid. This is regardless of the general recovery in the altcoins market which has seen several coins print double figures. From our last ADA mentions, stops should be maintained at 8 cents with no definite targets. Exits depends on whether our stop is hit today or when clear reversal patterns print in latter dates.

IOTA (IOT) Price Analysis

From the News

• IOTA Foundation has released Qubic’s road map.

#QUBIC development roadmap has been updated here. Very nice progress going on. #IOTAhttps://t.co/cP2ctIc41q

— ιΘτα (@Iotalover) September 13, 2018

• ElaadNL will soon facilitate the implementation of the first IoT based, IOTA accepting charging points for EVs.

Technical Analysis

IOTA Daily Chart by Trading View

The markets might be on a recovery path but IOTA’s are stable to say the least. Notice that despite yesterday’s gains, prices are yet to break above or below the upper and lower limits at 55 cents and 50 cents.

And even when they do, technically sellers would be in charge until after we see strong gains above 80 cents or Sep 5 highs.

However, considering the general market recovery, any breach above 55 cents shall trigger moderate size IOTA buys with 90 cents as first targets.

Disclaimer: Views and opinions expressed are those of the author and aren’t investment advice. Trading of any form involves risk and so do your due diligence before making a trading decision.

The post EOS, Cardano, Tron, Stellar Lumens, IOTA Price Analysis: Altcoin Undervaluation Correction in Progress, Expect More Gains appeared first on NewsBTC.

CEO of Galaxy Digital Mike Novogratz has called a bottom in digital currencies, noting that “markets like to retrace to the breakout”

Bitcoin’s skyrocketing energy consumption levels don’t increase in the summer quite as much as you might think

VEE.tech, a blockchain database cloud project led by legendary blockchain developer and creator of PoS consensus Sunny King, participated F50 Silicon Valley conference and released a few technical features of SPoS, aka Supernode Proof of Stake.

According to the keynote speech delivered by VEE team located at Silicon Valley, SPoS was designed for high-performance Blockchain infrastructure platform with constant block interval generated to stabilize throughput capacity. It also provided better security with cold minting. SPoS of VEE Mainnet would likely be starting with 15 Supernodes, while the total number of Supernodes could be increased to 30 and 60 potentially, depending on its growth.

In a cover story by Coindesk on Sept 7 2018, when asked what he tried to achieve in VEE.tech with SPoS, Sunny King replied, ” VEE takes a good look at the barriers of building Blockchain applications and tries to streamline the process and expand the ecosystem, so at some point, we can say using Blockchain technology is as easy as using a database.”  

Also, according to Coindesk’s report, VEE would launch Mainnet on 17th Sept, together with its own crypto coins whose listing ticker would be announced soon. It was announced that there would be airdrop events targeting global developers. According to the community, VEE.tech was in discussion with global exchanges to get their coins listed in a timely manner.

VEE has unveiled a 2nd version white paper for the first time in the last week and will release the paper of  shortly.

VEE aims to create an absolutely secure underlying infrastructure platform for blockchain database through innovations of consensus mechanism and blockchain platform functions, so that companies using the VEE blockchain platform can focus on their own business instead of delving into coding issues. In this way, VEE blockchain platform can support the operation of trillions of blocks effectively in the future and build a new world of blockchain.

Just like Satoshi Nakamoto, the cryptocurrency pioneer, Sunny King invented PeerCoin and PrimeCoin, both of them ranked among top 10 market capitalization globally. By introducing the Proof of Stake consensus mechanism, he made great contributions to the development of cryptocurrency technology. Years before, Sunny King led the team to set out again, with the hope of reducing the technical barriers and entry costs of blockchain further and introduce the technology to a wider range of applications.

After tremendous research and development, the VEE platform will finally be officially launched in September 2018. This time Sunny King brings a new generation of consensus algorithm innovations, SPoS.

By significantly reducing the cost of blockchain technology, VEE provides universal and personalized underlying database cloud support for blockchain projects with various application scenarios. VEE will make a breakthrough in accelerating the application of blockchain technology and supporting the use of blockchain in the future commercial society. Sunny King is the chief designer of the project, leading several cryptography senior engineers and database architects from Silicon Valley to develop in depth.

According to the development team in VEE, the decentralization mode transformation brought by blockchain as a database has strengthened privacy protection while reducing technology cost and improving data security. As the VEE of the blockchain database cloud, it needs to redefine the blockchain through the decentralized database cloud to promote the advent of the era of virtual economy.

The vision of VEE is that the future of blockchain lies not only in the multi-billion dollars of blockchain, but also in the multi-billion blocks, which will bring a new economic era to the world. According to the white paper, the Vee mainnet will eventually be capable of carrying four or more digits of TPS and more with more stability.

VEE mainly has the following innovative highlights:

• The adoption of SPoS consensus algorithm It can support industrial TPS and reduce the operating cost of the whole system while solving the energy consumption problem.
• Exclusive and Innovative cloud computing features It can generate blockchain effectively, reduce the cost of development of blockchain applications, and provide more developers with an efficient and convenient application development platform.
• Modular construction It simplifies software upgrades in the entire ecosystem
• Common database functionality Presenting data and information in a descriptive and integrated manner while supporting multiple consensus algorithms enables application developers to focus on business logic.
• Smart Contract VEE platform plans to support both Ethereum and EOS smart contracts in a compatible manner. Virtual machines will be implemented in a modular manner so that applications can choose the type of smart contract they prefer; It will also assess and consider the growing number of other competitive smart contract systems.

At the same time, VEE platform also allows different applications to run in different blockchains. Realizing complete scalability isolation with other application systems in the same ecosystem, makes VEE even more secure, flexible, compatible and open than current blockchain platforms.

The value of VEE ecosystem is to provide the underlying database cloud service for the applications of several hundreds of billion level projects in the area of artificial intelligence, digital assets, education, cross-linked transaction and smart contract in the near future. In this case, VEE will truly promote the advent of the era of global virtual economy and build a trillion-level blockchain platform. By that time, VEE will be worth $50 billion, $500 billion, or more.

Just as Sunny King created POS in the past, which has changed the development history of blockchain, as well as the vision of VEE. It is believed that Sunny King’s third innovation in the blockchain world will completely change the future of blockchain and enable it to go deep into social Economy. People can indeed live a better life through blockchain technology and it will realize Virtual Economy Era in the future.

Web: https://www.vee.tech/

Contact Us:

1、Facebook

https://www.facebook.com/veecoinexcelsia/

2、Twitter

https://twitter.com/VEE_Coin

3、Medium

https://medium.com/@VEEBlockchain

4、Telegram

https://t.me/joinchat/HHZIkA-6srdnX4M_UpT_KQ

5、Youtube

https://www.youtube.com/channel/UCogMcxTUyop9_tidkFaOWuA

This is a sponsored press release and does not necessarily reflect the opinions or views held by any employees of NullTX. This is not investment, trading, or gambling advice. Always conduct your own independent research.

The post VEE.tech, led by Sunny King – the creator of POS, released technology details of their new consensus SPoS appeared first on NullTX.

Privacy-oriented Brave browser has filed complaints in two countries against Google for violating personal data processing regulations

A new lobby group has been formed in Washington DC with the express purpose of representing crypto entrepreneurs and investors.

The group, the Blockchain Association, helps to put some further impetus behind the industry in the way it is represented to legislators and lawmakers in the nation’s capital.

Comprised of leaders in the sector, currently made up from  Circle, Coinbase, Protocol Labs and other crypto investment firms, like Polychain Capital and Digital Currency Group, the new lobby group has become the first of its kind, specifically aimed at improving conditions within the cryptocurrency space in the US.

Based in Washington, the group intends to assist crypto and blockchain companies through the law as it relates to the industry, and work with legislators on issues such as tax-law, KYC and AML policy. For industry players, many will be encouraged that the industry now has a voice in the capital, particularly those who welcome prudent voices in the push for regulation.

Detractors of cryptocurrency’s growing corporatization and privatization, however, won’t be convinced even if Coinbase’s chief legal and risk officer Mike Lempres, assured that they weren’t “looking to game the system”.

Recently, Coinbase established its own political action committee (PAC) for the crypto industry, becoming the first of its kind to do so. The role of PACs in the US is that of a fundraiser for candidates running for public office. At the US federal level, an organization becomes a PAC when it receives or spends more than USD 1,000 for the purpose of influencing a federal election and registers with the Federal Election Commission, according to the Federal Election Campaign Act.

Coin Center’s executive director Jerry Brito agreed with Lempres, claiming that it gives their company another outlet for responding to difficult issues:

“We’re happy to see this organization stand up. It’s good to have more voices advocating for things we agree about. But probably more importantly for us, a lot of folks project ‘trade association’ onto Coin Center, and we’re decidedly not that. When we get questions about the industry, we can send them to these folks.”

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The Waves Project’s CEO, Sasha Ivanov, is engaged in negotiations with the Maltese government in an effort to gain all the proper accreditation in order to run their operations on the island. The news comes amidst a growing trend of cryptocurrency and blockchain companies moving to Malta in order to be in a country with a friendly regulatory environment.

‘Blockchain Island’ Growing in Popularity

In a Medium post from Wave’s official blog, the blockchain company explained that they are in the process of moving their platform to the Mediterranean island nation and are currently discussing what benefits the company’s blockchain solutions can bring to the island’s infrastructure.

The Medium post notes that:

“Waves attended a meeting with government representatives and other interested parties on the island to discuss technological cooperation in the fields of healthcare, land registry, voting and other areas, as well as proposals to use Waves as a platform for tokenised financial instruments.”

The Waves Project was founded in 2016, and currently offers a crypto wallet, a decentralized exchange platform (DEX) and a tool for releasing tokens. They also offer a crypto token – WAVES – that can be used to trade with fiat currencies and to purchase various cryptocurrencies offered on their platform.

The Waves founder and CEO spoke about the move to Malta:

“We are interested in this accreditation and are ready to start working with Malta’s legal experts to bring our ready-to-use blockchain solutions here: Waves for the financial sector and Vostok for the government and corporate sectors.”

The Growing Trend of Crypto Companies Moving to Malta

The Waves Project is currently based in Moscow, and the move to Malta is due to the crypto and blockchain friendly environment. Recently, multiple other cryptocurrency companies have moved their operations to Malta, including Binance and BitPay.

Many countries, including Japan and South Korea, have increased their regulatory requirements for cryptocurrency exchanges, which has led many of these companies to find countries that offer more benefits to crypto companies in order to increase their economic output.

Malta’s Prime Minister, Joseph Muscat, discussed Malta becoming a blockchain hub, saying that:

“Over the last months, the Maltese government has actively solved how to position Malta as a major hub in terms of the digital economy, which will play a central role in the economic sustainability of the years to come. The Maltese government has legislated three acts that will provide legal certainty to this space, involving DLT and digital financial products and services such as virtual currencies and ICOs.”

The move to encourage blockchain companies to base their operations out of Malta, which is an incredibly small country, is strategic, as these companies will add jobs and economic stimulus to the country, while also increasing the government’s tax revenue.

The Junior Minister for Malta’s Financial Services, Silvio Schembri, spoke about Waves’ move to the island, saying:

“Malta is going through exciting times with world-renowned names associating themselves with us,” adding that he is “looking forward for even further cooperation with the Waves Platform in the coming weeks.”

Featured image from Shutterstock

The post Waves Platform Negotiating with Malta Government Amidst Growing Relocation Trend appeared first on NewsBTC.