Source: Adobe/mehaniq41

Though TikTokers found one coin to pump, it looks like cryptoassets haven't taken over the major video-sharing social networking service yet. The creators of crypto TikToks (CrypToks, if you will) are few, and videos on the topic are relatively scarce.

The power of TitTokers to affect the current happenings, it seems, is not to be underestimated. Their strength is in numbers and commitment. And they're the talk of the town these days. TikTok has turned the eye of the Cryptoverse towards itself as a number of creators are working to pump dogecoin (DOGE) to USD 1. Tron's CEO Justin Sun decided to join the game too, and a few major exchanges followed soon after.

But it seems that the position of the top 10 coins by market capitalization on this platform leaves a lot to be desired.

Looking at the hashtags alone, 'cryptocurrency' has 33.8 million views, while 'crypto' has 80.3 million, compared with 375.5 million 'dollar' views, while 'money' is now getting closer to 10 billion views. Also, 'banking' has 57.2 million views.

It's also important to note that the vast majority of hashtags for individual coins doesn't refer to the cryptocurrency alone, but are connected to KPOP and other music genres, gaming, clothing, etc., but it's worth taking a look at each nonetheless. While a term on its own will often bring you nowhere crypto-related, adding 'crypto' to it helps.

What can be noticed is that the crypto community is still small on TikTok. Many of the videos seem to be made by the same several creators. One of the more active creators is VirtualBacon, with more than 48,000 followers.

Many of the videos are mining- or news-focused. There are numerous short 'lessons' or 'tutorials' on TikTok too, mostly teaching people what these coins are. You can also find many analyses, some jokes, as well as Ashton Kutcher mentioning Ripple on The Ellen DeGeneres Show.

Also, the videos on the topic don't seem to be a daily occurrence. The 'freshest' videos, so to say, that could be found easily and without digging too deep, were focused onCardano (ADA), not surprising given all their recent developments.

Meanwhile Binance.US, and particularly its CEO Catherine Coley, are also quite active.

Another type of videos you might easily notice is made by the 11th by market capitalization Crypto.com (CRO), often promoting the platform's MCO Visa cards, even starting its 'wipechallenge'.

Though the numbers would be presumably a lot smaller for each coin - massively changing the ranking - if only crypto videos, and only those connected to that specific coin could be filtered, here are the views for each hashtag at the moment:

Meanwhile, hashtag 'dogecoin' now has 10.5 million views, up from 4.9 million recorded two days ago. DOGE, however, dropped 12% in 24 hours, and appreciated 66% in a week, to USD 0.0039.

Also, it looks like with the help of the seemingly massive campaign, "dogecoin" overtook "bitcoin" on Google on July 8, but now it's back to more or less usual interest.

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And here are some fun CrypToks for the end:

Carnt believe Ive just found my grandads bit coins from 1990 in my loft ##bitcoins ##loft ##noway

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##irs ##surveillance ##freeross ##usa ##monero ##crypto

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We are doing it , they can't stop us! ##Dogecoin ##Crypto ##cryptocurreny ##Stock ##fyp ##Stonks

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##bitcoin ##xrp ##digitalassets ##blockchain ##crypto ##cryptocurrency ##btc ##useatrisk ##ripple ##ice ##moon ##lambo ##1 ##bitcoinchallege ##assetclass ##fyp ##duet

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##perte ##viral ##foryou ##challenge ##crypto ##EOS s##myboy

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Wise choice to spend your ##bitcoin with ##MCOVisaCard ##wipechallenge

Here is the original post:

Bitcoin, Ethereum & Co Have Plenty of Room Left to Take Over TikTok - Cryptonews

EOS

EOS fell by 2.14% on Tuesday. Partially reversing Mondays 8.56% rally, EOS ended the day at $2.5605.

A bullish start to the day saw EOS rise to an early morning intraday high $2.6308 before hitting reverse.

Falling short of the first major resistance level at $2.7031, EOS slid to a late morning intraday low $2.5264.

Steering clear of the first major support level at $2.4665, EOS recovered to $2.57 levels late in the day before easing back.

At the time of writing, EOS was up by 0.20% to $2.5655. A bullish start to the day saw EOS rise from an early morning low $2.5629 to a high $2.5681.

EOS left the major support and resistance levels untested early on.

EOS would need to move through the $2.5730 pivot level to support a run at the first major resistance level at $2.6187.

Support from the broader market would be needed, however, for EOS to break back through to $2.60 levels.

Barring another extended crypto rally, the first major resistance level at $2.6187 would likely cap any upside.

Failure to move through the $2.5730 pivot would bring the first major support level at $2.5143 into play.

Barring another extended sell-off, EOS should steer clear of the second major support level at $2.4682.

Major Support Level: $2.5143

Major Resistance Level: $2.6187

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum fell by 0.97% on Tuesday. Partially reversing a 6.16% rally from Monday, Ethereum ended the day at $239.37.

A mixed start to the day saw Ethereum rise to an early morning intraday high $243.82 before hitting reverse.

Falling short of the first major resistance level at $246.73, Ethereum slid to a late morning intraday low $234.55.

Steering clear of the first major support level at $231.82, Ethereum recovered to $240 levels before easing back to $236 levels.

Finding late support, Ethereum wrapped up the day at $239 levels to limit the loss on the day.

At the time of writing, Ethereum was down by 0.07% to $239.20. A mixed start to the day saw Ethereum rise to an early morning high $239.68 before falling to a low $239.19.

Ethereum left the major support and resistance levels untested early on.

Ethereum would need to move through the $239.3 pivot to support a run at the first major resistance level at $243.94.

Story continues

Support from the broader market would be needed, however, for Ethereum to break out Tuesdays high $243.82.

Barring an extended crypto rally, the first major resistance level and Tuesdays high should cap any upside.

Failure to move through the $239.30 pivot would bring the first major support level at $234.67 into play.

Barring another extended sell-off, Ethereum should continue to steer clear of sub-$230 levels. The second major support level sits at $229.98.

Major Support Level: $234.67

Major Resistance Level: $243.94

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Ripples XRP slid by 1.93% on Tuesday. Partially reversing a 6.66% rally from Monday, Ripples XRP ended the day at $0.18543

Tracking the broader market, Ripples XRP rose to an early morning intraday high $0.18999 before hitting reverse.

Falling short of the first major resistance level at $0.1934, Ripples XRP slid to a late intraday low $0.18320.

Steering clear of the first major support level at $0.1806, Ripples XRP recovered to $0.1850 levels to limit the downside.

At the time of writing, Ripples XRP was down by 0.26% to $0.18495. A bearish start to the day saw Ripples XRP fall from an early morning high $0.18539 to a low $0.18495.

Ripples XRP left the major support and resistance levels untested early on.

Ripples XRP will need to move through the $0.1862 pivot to support a run at the first major resistance level at $0.1892.

Support from the broader market would be needed, however, for Ripples XRP to break out from $0.1850 levels.

Barring a broad-based crypto rally, the first major resistance level and Tuesdays high $0.18999 would likely limit any upside.

In the event of a breakout, Ripples XRP should test the second major resistance level at $0.1930 before any pullback.

Failure to move through the $0.1862 pivot would bring the first major support level at $0.1824 into play.

Barring another extended crypto sell-off, Ripples XRP should avoid sub-$0.1800 levels. The second major support level sits at $0.1794.

Major Support Level: $0.1824

Major Resistance Level: $0.1892

23.6% FIB Retracement Level: $0.3638

38.2% FIB Retracement Level: $0.4800

62% FIB Retracement Level: $0.667

Please let us know what you think in the comments below.

Thanks, Bob

This article was originally posted on FX Empire

More:

EOS, Ethereum and Ripples XRP Daily Tech Analysis July 8th, 2020 - Yahoo Finance

A gas-guzzling Ethereum dapp that accounts for 13% of activity on Ethereum network has been denounced as a potential Ponzi scheme by the Philippines Securities and Exchange Commision.

An announcement from its SEC on June 30 advised users of the dapp in question, Forsage, to stop using it immediately, and demanded that the owner officially register with the commission.

Forsage describes itself as a fully decentralized matrix marketing project, and, the most thought-out marketing of this type. However, it features many of the typical hallmarks of a multi-level marketing scheme.

The dapp is classified by popular ranking site DappStats as a High-Risk application, where users profit by attracting more users to invest in multi-level slots. Each slot is twice as expensive as the previous, and returns twice as much profit back to the original referrer.

The SEC advisory notice stated: Based on numerous reports and information gathered by the Commission, the entity operating under the name FORSAGE, headed by Lado Okhotnikov, is found to be engaging in investment-taking activities in the Philippines which is NOT AUTHORIZED by the Commission.

According to the SEC: Forsages so-called smart contract partakes of the nature of securities through an investment contract where investors need not exert any effort other than to invest or place money in its scheme in order to profit.

However, despite demands by the SEC that Forsage registers as a licensed security, the dapps operators do not appear willing to comply. The SEC states they have already been contacted by Forsage, and what they heard did not prove helpful to the commissions efforts.

The SEC notice stated: Forsage claims that its program will continue to function even if its website http://www.forsage.io is closed for any reason. It even implied that the Government cannot shut it down because it is decentralized and thus free from any authority.

Decrypt spoke to Ethereum researcher and developer Philippe Castonguay, who examined the Forsage code and concluded that the smart contract cant be halted. Even if the SEC dismantled the website, says Castonguay, the lack of a simple user interface would only slow the Dapps usage at best.

When asked if the SEC had any power whatsoever to close down Forsage, Castonguay seemed doubtfulsuch is the nature of Ethereums permissionless blockchain technology.

Unless there is a currently unknown vulnerability, I don't think [they could], no, said Castonguay.

They could try to track down who the users are by asking information to exchanges they use and then reaching out to users directly, he said, adding, but that may well prove to be costly and inefficient.

In the days since the SECs announcement, usage of the Forsage app hasnt halted. At time of writing, Forsage is the most popular Ethereum-based Dapp in existence, with 4,341 users over the past 24 hours, according to DappStats. Data shows that $2.86 million passed through the Dapp in the past day alone, equating to over 12,000 ETH.

Forsage has proven to be a major source of activity on the Ethereum network in recent times. As seen on Dune Analytics, the Forsage smart contract has been responsible for consuming 12.78%% of Ethereums gas over the past twenty-four hours.

Gas is a unit of measurement on Ethereum which represents how much computational power is required to perform an operation. By hogging 13% of the Ethereum network, the Forsage contract has pushed up Ethereum transaction fees in the process.

According to data from Bitinfocharts, Ethereums average and median transaction fees have been on the rise since January 2020. Average fees rose 915% in that time, from $0.06 to $0.67with a brief spike to $4 early June. Meanwhile, median fees rose an incredible 2,564% in the same time frame, from $0.02 to $0.73.

Yet its not just Forsage thats responsible for the current Ethereum stress-test. According to Eth Gas Station, the Ethereum-based Tether (USDT) contract accounts for 26% of the networks gas usage.

Interestingly, the third-highest gas-guzzler on Ethereum is another multi-level marketing scheme known as MMM Global, which has accrued over $5 million in ill-gotten Paxos (PAX) stablecoins.

Despite the presence of gas-guzzling Ponzi schemes on Ethereum, Castonguay, who works in blockchain gaming, doesnt expect such scams to disappear any time soon. He said it was unfortunate that Ethereum was used in this way, but added:

It's inevitable due to the unstoppable and permissionless nature of the technology. I suspect that even with strong regulation, Ponzi schemes on Ethereum will still be common, especially as privacy tools available on Ethereum get better, he said.

So if you have money to lose, theres no need to rush over to Forsage. Its probably not going away any time soon.

The rest is here:

Philippines' SEC just denounced the top Ethereum dapp as a Ponzi - Decrypt

Ethereum 4 Hour Price Update

Updated July 12, 2020 01:36 AM GMT (09:36 PM EST)

Ethereum entered the current 4 hour candle at $239.32, up 0.53% ($1.26) from the last 4 hour candle. Relative to other instruments in the Top Cryptos asset class, Ethereum ranked 4th since the last 4 hour candle in terms of percentage price change.

Ethereum is down 0.81% ($1.96) since yesterday, marking the 3rd day in a row it has gone down. This move happened on lower volume, as yesterdays volume was down 45.9% from the day before and down 13.53% from the same day the week before. Those trading within the Top Cryptos asset class should know that Ethereum was the worst performer in the class during yesterday. Lets take a look at the daily price chart of Ethereum.

Notably, Ethereum is now close to its 20 and 50 day moving averages, which may act as price barrier for the asset. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. For additional context, note that price has gone down 19 out of the past 30 days.

Over on Twitter, here were the top tweets about Ethereum:

The Grayscale Ethereum Trust is down 72% from its June high, and looks like its headed back to its March low. If the Grayscale Bitcoin Trust also revisits its March low, thats a 48% drop from here. The chart pattern doesnt look good for the trust. Drop #Bitcoin and buy #gold.

Almost everything is at ATHs on Ethereum ~Assets~Stablecoins $8BValue in DeFi $2.2BDAI $186MBTC $135MTokenized Real Estate $2.1M~Network~Avg Daily Network Fees $0.7MWeekly DEX Volume $500MDeFi Users 250kHow long until ETH joins the party?

Big Love for Mona Coin in Japan, the cat meme quite comparable to #DOGE coin. Crypto assets for physical transactions in March became available. Look at Mona coin vs ETH! Monacoin (#MONA) 359.6 Billion yenEthereum (#ETH) 26.89 Billion yen(Toto, were not in Kansas anymore)

In terms of news links for Ethereum heres one to try:

TrustSwap | Trusted transactions on the Ethereum Blockchain

TrustSwap for the entire crypto market TrustSwaps system will allow ANY token on ANY blockchain to integrate with the TrustSwap ecosystem, and beyond, by providing a wrapping service which converts any token into an ERC20 at a 1:1 ratio.SERVICESThe Site allows you to participate in the token sale and use other services available on the Site (hereinafter the Service).The Company makes these links available to you for providing the functionality or Services on the Site.We need certain personal data in order to provide you with access to the Site, provide our services (as defined in our Terms and Conditions), or enter into the Token Sale Agreement.The Company undertakes a sale (hereinafter the Sale) of the TrustSwap token or SWAP (hereinafter the Token).By acquiring Token you agree that the Company shall not be required to give you a refund, account reset or other access to Token and the Company shall not be liable to you for any damage or loss in the context of your inability to access Token.

Read more from the original source:

Ethereum (ETH) Up $1.26 Over Past 4 Hours, Fares the Worst Out of Top Cryptos to Start the Day; Came Into Today Down For the 3rd Day In A Row -...

As Ethereum is finally set to launch its Ethereum 2.0 upgrade later this year, putting an end to a long streak of delays, the network will start moving toward a proof-of-stake model.

Consequently, the network will abandon the proof-of-work consensus algorithm, leaving Ether (ETH) miners with very few options. Since their equipment will become obsolete, they will be forced to start mining altcoins, or recertify as ETH stakers. So, what is the current state of ETH mining, and what exactly will happen to the industry as a result of the upcoming transition?

The Ethereum consensus is currently based on the PoW system, which is similar to that of Bitcoin (BTC). Therefore, the mining process is nearly identical for Ethereum, as miners use their computation resources to earn rewards for each block they manage to complete.

However, there is still a major difference between these processes. While Bitcoin mining has become almost entirely reliant on ASICs large, loud machines designed specifically for cryptocurrency mining that are mostly clustered in regions with cheap electricity Ethereums PoW hashing algorithm, called Ethash, has been designed to favor GPU units issued by global chipmakers like Nvidia and AMD. GPUs are much cheaper and more accessible than ASICs, as Thomas Heller, the global business director of cryptocurrency mining pool F2Pool, explained in a conversation with Cointelegraph:

Because ASICs are very specialized machines, when a new generation is released, its often a huge technology jump. So, their hash rate is much higher, and energy efficiency is better than the previous generation. That means that those manufacturers have spent a lot of money to research and develop it. Their machines are often quite expensive, while GPUs are a lot more affordable.

Heller added that those using GPU miners have much more flexibility in what you can mine. For instance, an Nvidia GeForce GTX 1080 Ti card a popular choice can mine more than 15 different currencies, while ASIC units normally support just one currency.

Nevertheless, the Ethereum network is not entirely immune to ASIC miners at least, in its current state. In April 2018, Bitmain released the Antminer E3, an ASIC produced specifically for mining Ethereum. Despite being a widely successful model that boasts a hash rate of 180 megahashes per second and power consumption of 800 Watt, it has received mixed reactions from the Ethereum community. A substantial part of GPU rig owners seemed to have suffered from loss of profits once ASICs were plugged in, while some were even forced to switch over to different networks.

Its in the Whitepaper that ETH shall be ASIC resistant. I hope said whitepaper stands for something was one of the top comments in a r/EtherMining thread discussing the Antminer E3 around the time it was announced. 800 usd only for 180mh a different Reddit user argued. Hardfork or die eth.

Some Ethereum users went on to suggest that Bitmains mining device can lead to greater centralization and thereby increase the chance of a 51% attack. Soon, a group of developers proposed programmatic proof-of-work, or ProgPoW an extension of the current Ethereum algorithm, Ethash, designed to make GPUs more competitive, thereby promoting decentralization.

According to a March paper co-authored by Kristy-Leigh Minehan, a co-creator of the ProgPoW, around 40% of Ethereums hash rate is generated by Bitmain ASICs. Alejandro De La Torre, the vice president of Poolin the sixth-largest pool for ETH confirmed to Cointelegraph that GPU mining is still dominant for the Ethereum network, adding:

At present, the profit of ETH mining is not high, and the management threshold and cost of GPU devices are higher than that of Asic devices. Compared with Asic devices, however, GPU devices are more flexible as in, you can switch to other coins with different algos.

ProgPoW has not been integrated into Ethereum yet, and it is unclear when it will eventually happen in March, core Ethereum developers were debating whether ProgPoW would actually benefit the network for almost two hours and failed to reach a consensus. Notably, a Bitmain representative previously told Cointelegraph that the mining hardware giant doesnt plan to extend Antminer E3s lifespan to operate after October 2020: As far as we know, mining will approximately end during October or sometime after this.

Indeed, Ethereum will move away from mining in the future. Scheduled to launch later in 2020, Ethereum 2.0 is a major network upgrade on the blockchain that is designed to shift its current PoW consensus algorithm to PoS where miners are virtual and referred to as block validators.

More specifically, they are randomly selected with the consideration of users wealth in the network, or their stake. In other words, the more coins PoS validators choose to stake, the more coins they accumulate as a reward.

According to Ethereum co-founder Vitalik Buterin, the network will become more secure and costly to attack than Bitcoins as a result of the transition, although the debate over which consensus algorithm is better has been around for years in the crypto community. However, its still unclear when the launch of Ethereum 2.0 will take place, as numerous bugs and management problems are reportedly delaying the process.

Related: Ethereum 2.0 Release Date Set for the Eleventh Hour as Issues Persist

Another supposed benefit of a PoS system is that its much more energy-efficient than PoW blockchains. According to data from Digiconomist, the cryptocurrencys annualized total footprint is 59.31 terawatts per hour, which is comparable to the power consumption of the entire country of Greece. However, Bitcoin might not be as bad for the environment as it seems thanks to a July 2019 report that estimated 74% of Bitcoin mining is done using renewable sources of energy.

What will happen to actual Ethereum miners? According to the documentation of the Casper upgrade that is part of the Ethereum 2.0 roadmap, the network will initially support a hybrid model that would involve both PoW and PoS, therefore, leaving some space for both block validators and GPU/ASIC miners. There will certainly be a transition period where both networks are running, Jack OHolleran, the CEO of the Skale Network a blockchain platform based on Ethereum told Cointelegraph, elaborating that this process will take some time:

It will certainly take time for the majority of ETH1 to transition into ETH2 potentially years not months. The good news about the slowness of this transition is that DApps and DeFi platforms will be able to move over at their leisure based on real-world evidence of viability, security and adoption. This is a net positive for the Ethereum ecosystem.

Once Ethereum runs fully on the PoS rails, miners will have two options. One is to sell the equipment and use that money to accumulate more ETH and start staking, while the other option, which is available exclusively for GPU miners, is to simply switch over to other Ethash networks and mine altcoins. Nick Foster, a representative for United States-based mining equipment dealer Kaboomracks, told Cointelegraph that most ETH miners will pick the latter option:

I would say most miners are not really into mining to get ETH or a specific coin. Yes, a certain number mine and hold, but I would argue against the notion that a large population of altcoin miners hold their coins for any amount of time.

Foster went on to describe how he switched to mining Ravencoin (RVN), an Ethash peer-to-peer blockchain asset, with his 3GB GPU unit once it became unprofitable to mine ETH: Its mining raven, and I sell to BTC instantly for stability sake and sell to USD to pay my power right after. I would say lots of people are employing a strategy like this.

As Foster summarized, he expects ETH miners to hop off the network, while new players those who didnt invest in the power infrastructure or the rigs will be staking ETH. He described the following scenario:

I cant imagine how much of a dork I would be if I found a five-year lease with $0.04 power, and I was mining ETH and I decided to sell everything and just keep paying my lease so I could stake ETH as a replacement.

Marc Fresa, the founder of mining firmware company Asic.to, agreed with that sentiment in a conversation with Cointelegraph: If youre invested into mining, you dont want staking since you have the buildout for it.

One of the major altcoins that might benefit from PoW miners leaving Ethereum is Ethereum Classic (ETC), a more conservative version of the blockchain that reportedly has no PoS-related plans. Since it also runs on the Ethash algorithm, its hash rate might experience a significant spike as a result of the potential miner migration caused by the Ethereum 2.0 launch.

Related: Ethereum 2.0 Staking, Explained

Larger mining pools for ETH are left with similar options. When asked about his companys post-PoW plans for Ethereum, Heller told Cointelegraph that F2Pool launched a sister company called stake.fish earlier in 2018, following the Ethereum PoS upgrade announcement. Because the switch has been delayed numerous times, stake.fish has started offering staking services for other PoS and delegated PoS projects like Tezos (XTZ), Cosmos (ATOM) and Cardano (ADA). As for Poolin, it may temporarily give up supporting ETH mining, as a result of the transition to PoS, De La Torre told Cointelegraph.

Other top ETH mining pools, namely Nanopool, Ethermine, Mining Pool Hub, SparkPool and SpiderPool, have not responded to Cointelegraphs requests for comment.

As for Ethereums ecosystem at large, experts reassure that the transition to PoS will be conducted in an uncomplicated fashion, and network participants casual users and decentralized applications built on top of Ethereum will hardly notice the change. Viktor Bunin, a protocol specialist at blockchain infrastructure firm and Libra Association member Bison Trails, echoed that sentiment in a conversation with Cointelegraph, adding:

The Ethereum mainnet we know today is expected to be added as a shard on ETH2 in Phase 1.5. All that will change is the consensus mechanism, so DApps and users shouldnt notice any change.

Bunin went on further stating that: Any concerns that the network will split, with some folks remaining on the PoW chain or that DApps will experience disruption, are overblown. Furthermore, OHolleran told Cointelegraph that ETH 2 is a new network that will run on a new token and a new inflation model, elaborating:

The connection is that it will all be composable and compatible with the Ethereum ecosystem and that tokens from the first network can be burned and replaced with tokens from the second network. What this means is that DApps and users will not be directly impacted until they manually switch networks. The indirect and immediate impact will be in relation to how the supply and perceived value impact the price of tokens on both networks.

As for now, it is clear that there shouldnt be a shortage of Ethereum block validators. According to a recent report by cryptocurrency analytics firm Arcane Research, the number of Ethereum wallet addresses that include or exceed 32 ETH the minimum amount required for staking is approaching 120,000.

Link:

ETH Miners Will Have Little Choice Once Ethereum 2.0 Launches With PoS - Cointelegraph

As the Ethereum 2.0 upgrade approaches, users have been showing an increasing interest in the staking process, which would allow them to make a passive income by validating the new network.

This is evidenced by the growing number of Ether (ETH) wallets and ETH deposits on cryptocurrency exchanges. According to a recent report published by analytical company Arcane Research, the number of Ethereum wallets containing 32 ETH or more the minimum amount of coins needed to run the staking node have increased by 13% over the year, and the number of Ethereum 2.0 Google search queries have grown by around six times since March.

While some users have already opted to run their own validator node, others are still choosing among becoming an independent validator, joining a staking pool or using staking provider services. But is there actually any difference?

The upgraded Ethereum network will switch from the proof-of-work to the proof-of-stake consensus algorithm, replacing miners with validators who will bet their coins to verify transactions. Once validators verify honest transactions, they will receive the rewards in the form of passive income this process is called staking.

At the moment, the exact size of an annual reward for Ethereum stakers is still unknown. However, according to the projects roadmap, this value will vary from 1.56% to 18.1% and will be inversely proportional to the total number of validators: When the network increases, rewards contract.

On the one hand, a staking model can be attractive to a wide range of crypto users because there is no need for expensive mining equipment or special technical skills and might look as simple as having a bank deposit. All that is needed to receive annual interest on staked funds is to store ETH on a hardware wallet.

However, an in-depth analysis of the requirements for becoming a validator on the Ethereum network has shown that not everything is as simple as it might seem at first glance. The minimum entry threshold of 32 ETH is just one of such requirements.

Related: Ethereum 2.0 Staking, Explained

For example, given the ETH exchange rate of $250, the user will need to invest $8,000 to become a validator on the Ethereum 2.0 blockchain. But what about the reward? Taking into account the cost of validation of $180 and an average reward of 5% suggested by Ethereum developer Justin Drake, the annual profit from staking 32 ETH can be around $190. So, given the possible risks of Ethers price experiencing volatility and users being unable to withdraw funds, this reward model is unlikely to allow an average staker to hit a big jackpot.

Another task users will have to deal with to be a full validator is running their own validator node. As evidenced by a survey published by Consensys, 33% of the ETH users are ready to perform this task. But thats not all. Additionally, validators would be required to ensure the uninterrupted functioning of the hardware wallet. If users disconnect, they lose all their daily income. Even worse, if at some point their stakes drop below 32 ETH, users will lose the right to be a validator.

The Ethereum staking entry threshold is not as high as the cost of running a master node on other blockchain networks, such as Dash, and for many users, high barriers to enter may be unaffordable. That same survey conducted by Consensys also showed that 33% of ETH owners do not intend to participate in network staking, and 71% of those who refused said that they do not hold enough Ether to become a validator.

The above-mentioned limitations can be circumvented if joining a so-called staking pool or staking-as-a-service providers. Such third-party services either decentralized or centralized offer staking on the users behalf and relieve them of the need to worry about launching special software or keeping the network online during the life of the staking deposit. And if launching ones own node can be compared to opening a deposit account at a bank, then staking providers act as brokers, taking on all the risks and maintenance expenses for a certain fee.

The biggest advantage of such solutions is the ability to earn on staking with any amount of ETH, which becomes a way out for many users who cannot afford to keep their own node. According to Consensys, at least 33% of Ethereum users plan to use third-party services and 20% of the respondents who previously revealed the intention to run their own validator nodes said they would consider using a staking service instead. This raises the question: Which is the better option a staking pool or a staking-as-a-service provider?

Today, many crypto exchanges offer staking services for PoS-based coin owners with daily income payments. For example, Poloniex does not impose any requirements on the terms of deposits the user can trade and withdraw funds at any time. For this, however, users are charged a 25% fee on their rewards, which is said to cover operating expenses and risks associated with the management of the service.

Bitfinex, another major crypto exchange, claims that it doesnt charge a fee for its current staking programs, holding a small portion of staking rewards instead. Additionally, asstated on Bitfinexs website, in some cases, its staking service provider can also take a portion of the rewards collected through the exchange. Meanwhile, staking services provided by Bitfinex are available for any category of users since its enough to have as little as $0.10 to start receiving rewards on the platform.

Paolo Ardoino, the chief technology officer at Bitfinex, revealed to Cointelegraph that the cryptocurrency exchange has the biggest Ethereum cold wallet and is planning to be a key part of Ethereum staking. According to him, Ethereum staking will be quite profitable for users who keep their funds on exchanges:

Exchanges like Bitfinex will charge a tiny fee to cover operation costs, but the large majority of rewards will go directly into the pockets of the users. Not all users want to go through the process of custodying their own assets and learning how to stake properly.

Changpeng Zhao, also known as CZ, the CEO of Binance crypto exchnage told Cointelegraph that users who actively stake via Binance will be able to earn higher interest rates than those who simply hold cryptocurrency in their accounts:

Binance will stake a fractional reserve of the Ethereum held by our users, as we still require some funds to be liquid for users to withdraw at any time, while automatically distributing proportionately the rewards to our users.

Another convenience of centralized platforms and custodial services is that they undertake the conversion of the users ETH to ETH2. Cryptocurrency services provider Bitcoin Suisse, for instance,claims that it doesnt charge any commissions for such a conversion, however, it will take 15% from rewards received by its customers. The platform also promises to monitor the timely update of its own software so that the staking process remains uninterrupted and beneficial for the user.

However, according to some users, staking programs offered by crypto exchanges can lead to the centralization of the Ethereum blockchain. In a conversation with Cointelegraph, Sergey Zhdanov, the CEO of cryptocurrency exchange EXMO, explained that although the exchanges will definitely become the biggest network validators, the influence will be inseparable:

Data from Arcane Research and Nansen AI shows that Ethereum wallets with at least 32 ETH, the amount required for ETH 2.0 staking, have grown by 13% this year. The amount of these wallets are more than 120K, so the exchange wallets are taking just 1% of them.

Alongside the crypto exchanges, custodian services provided by some institutional players also appear to be willing to offer such services. According to a PricewaterhouseCoopers report, 42% of crypto hedge funds are also involved in cryptocurrency staking.

Related: ETH Miners Will Have Little Choice Once Ethereum 2.0 Launches With PoS

Zhdanov also pointed out that many big players will likely be staking ETH by themselves as a tool to hedge the risks of their portfolio and that the popularity of ETH among other altcoins working on PoS will help reduce the centralization risk.

Speaking about the probability of centralization, Bitfinexs Ardoino told Cointelegraph that this threat can be possible only in the early phases of the upgrade, adding: Education on the importance of staking from own wallets will be a key factor in order to reduce centralization.

Besides, according to CZ, staking is particularly effective in helping stabilize cryptocurrency prices, as it encourages users to make market buys when purchasing tokens, as well as rewards limit sell orders rather than market sell orders, as users continue to earn staking rewards while their order hasnt filled yet. He added:

Thus, during panics, users are incentivized to set limit orders to sell rather than dump on market, and during bullish periods, users are incentivized to get in faster.

Staking pools or decentralized exchanges can be an alternative for those who are concerned about possible centralization and penalties incurred, for example, for going offline. As the decentralized nature implies, everything from rewards to risks is shared among the members of such pools.

For example, decentralized staking pool Rocket Pool claims that a user deposit cannot be assigned to a bad node since all the pool members share the risk of nodes being slashed and, therefore, the size of the penalty. Thus, if one node fails, each pool member will lose a small number of funds. However, in the case of running a node, its the user whos at risk of losing everything.

In addition to so-called socialized losses, Rocket Pool introduced its native token that represents a tokenized staking deposit and allows stakers to instantly receive a reward and withdraw it at any time. In addition, the pool does not charge fees for staking. In order to join the pool, individual users will need to have a minimum of 0.01 ETH, while those who plan to run a Rocket Pool smart node software will require 16 ETH half as much of the minimum amount needed to run an individual validator node, but a lot more than what crypto exchanges would require.

The entry threshold to become an Ethereum validator has become the most discussed issue among users interested in staking. Many of themargue that 32 ETH is too much and noted that if the required amount was smaller, there would be many more validators on the new network.

Others said that they wouldnt lock up 32 ETH just to secure the Ethereum network unless the staking rewards were higher than 10% per year, given that the possible profit could be negligible compared to losses in the event of a coin price drop. Although the exact staking reward size still remains unknown, many users who have revealed their plans to use third-party provider services already said they would choose the platform that offered at least 7.6% in revenue.

There are also those in the crypto community who appeared to be concerned about the threat of Ethereum centralization, rather than the cost of staking. They, however, appeared to be in the minority. Notably, a significant part of users spoke out in defense of the entry threshold of 32 ETH, comparing this amount to tens of thousands of dollars needed to own master nodes in blockchain networks, such as Dash.

While the launch date for Ethereum 2.0 is still open, users have time to decide whether they want to participate in the stake or not and how exactly they want to do it. As the examples discussed in this article show, almost any crypto user can become a validator of the new network and receive passive income regardless of their financial and technical capabilities.

Excerpt from:

Ethereum 2.0: The Choice Between Ones Own Node and a Staking Service - Cointelegraph

EOS

EOS fell by 1.59% on Sunday. Reversing a 0.36% gain from Saturday, EOS ended the week down by 8.62% to $2.5691.

It was a bearish start to the day. EOS fell from an early morning intraday high $2.6105 to an early afternoon intraday low $2.5252.

EOS fell through the first major support level at $2.5672 and the second major support level at $2.5280.

Finding support late in the day, EOS broke back through the major support levels to wrap up the week at $2.569 levels.

At the time of writing, EOS was down by 0.22% to $2.5634. Another bearish start to the day saw EOS fall from an early morning high $2.5703 to a low $2.5615.

EOS left the major support and resistance levels untested early on.

EOS would need to move through the $2.57 pivot level to take bring the first major resistance level at $2.6113 into play.

Support from the broader market would be needed, however, for EOS to break out from Sundays high $2.6105.

Barring an extended crypto rally, the first major resistance level at $2.6113 would likely limit any upside.

Failure to move through the $2.5680 pivot could see EOS in the red for a 2nd consecutive day.

A fall through to sub-$2.55 levels would bring the first major support level at $2.5260 into play.

Barring another crypto sell-off, however, EOS should steer well clear of the second major support level at $2.4830.

Major Support Level: $2.5260

Major Resistance Level: $2.6113

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum fell by 2.87% on Sunday. Reversing a 0.25% gain from Saturday, Ethereum ended the week down by 5.49% to $231.34.

A mixed start to the day saw Ethereum rise to an early morning intraday high $238.59 before hitting reverse.

Falling short of the first major resistance level at $239.94, Ethereum slid to a late intraday low $229.75.

The reversal saw Ethereum fall through the first major support level at $235.25 and the second major support level at $232.34.

Finding late support, Ethereum moved back through to $231 levels to reduce the deficit on the day.

At the time of writing, Ethereum was down by 0.51% to $230.15. A bearish start to the day saw Ethereum fall from an early morning high $231.34 to a low $229.95.

Ethereum left the major support and resistance levels untested early on.

Story continues

Ethereum would need to move through to $233.20 levels to support a run at the first major resistance level at $236.70.

Support from the broader market would be needed, however, for Ethereum to break out from $235 levels.

Barring an extended crypto rally, the first major resistance level and Sundays high $238.59 should cap any upside.

Failure to move through the $233.20 pivot could see Ethereum take a hit on the day.

A fall back through to sub-$230 would bring the first major support level at $227.86 into play.

Barring an extended crypto sell-off, however, Ethereum should steer clear of the second major support level at $224.39.

Major Support Level: $227.86

Major Resistance Level: $236.70

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Ripples XRP fell by 1.07% on Sunday. Following on from a 0.30% decline on Saturday, Ripples XRP ended the week down by 6.41% to $0.19040.

It was a bearish start to the day. Ripples XRP slid from an early morning intraday high $0.19263 to a late intraday low $0.18875.

Ripples XRP fell through the first major support level at $0.1909 and the second major support level at $0.1894.

Finding late support, Ripples XRP briefly revisited $0.191 levels before falling back through the first major support level.

At the time of writing, Ripples XRP was down by 0.13% to $0.19015. A bearish start to the day saw Ripples XRP fall from an early morning high $0.19041 to a low $0.18988.

Ripples XRP left the major support and resistance levels untested early on.

Ripples XRP will need to move through to $0.1910 levels to support a run at the first major resistance level at $0.1924.

Support from the broader market would be needed, however, for Ripples XRP to break out from the morning high $0.19041.

Barring a broad-based crypto rally, the first major resistance level and Sundays high $0.19263 would likely cap any upside.

Failure to move through the $0.1910 pivot could see Ripples XRP spend a 3rd day in the red.

A fall back through the morning low $0.18988 would bring the first major support level at $0.1886 into play.

In the event of extended crypto sell-off, the second major support level at $0.1867 would likely come into play.

Major Support Level: $0.1886

Major Resistance Level: $0.1924

23.6% FIB Retracement Level: $0.3638

38.2% FIB Retracement Level: $0.4800

62% FIB Retracement Level: $0.6678

Please let us know what you think in the comments below.

Thanks, Bob

This article was originally posted on FX Empire

Read more:

EOS, Ethereum and Ripples XRP Daily Tech Analysis June 15th, 2020 - Yahoo Finance

The developers at Quantum Resistant Ledger (QRL), an externally audited enterprise-grade blockchain platform that claims to be secure against a potential (future) attack from quantum computers, stated that Ethereum (ETH) could go quantum computer resistant through a unique smart-contract.

The QRL team said that a project called EnQlave helps users secure their computers against a quantum computer attack. They pointed out that the Ethereum 2.0 fork will bring many improvements like sharding, zero-knowledge proofs (ZKPs), enhancing overall blockchain efficiency, and lower transaction fees.

They noted:

One of the biggest hindrances to blockchains right now thats affecting its adoption is its ability to scale. [We] think [the Ethereum 2.0 related upgrades] will help out quite a bitProof of stake, Ethereum is going there, and so are we [at QRL.] Transparency, trust, immutability, pseudonymity, security all these things are core tenets of blockchain.

They added:

When it comes to Ether, [Ethereums native token,] were soon going to have another option. And that option is to make it quantum secure, or not. But why quantum? Quantum computers are quite cool [even literally.] In 2016, the NIST or National Institute of Standards and Technology (in the US) initiated a process to solicit, evaluate, and standardize one or more quantum resistant public key cryptographic algorithms.

They explained that this was basically the NIST calling upon academics and the general public to write and propose new asymmetric or public key algorithms to be used in the post-quantum era (i.e. when quantum computers powerful enough to threaten or practically outperform existing binary computers have arrived).

The QRL team revealed that so far there have been 60 submissions, out of which 12 were reportedly broken and there were five withdrawals from the competition. There are currently two quantum-secure protocols in draft recommended state, the team revealed. One of these is called XMSS which is the underlying protocol used by QRL.

They confirmed that quantum computers are available right now. For instance, D-Wave has been manufacturing them since 1999, the team said. IBM has also been releasing more and more powerful quantum computers.

The QRL team noted that, in 2019, Google announced Quantum Supremacy which is defined as the construction of a device that can solve a problem or perform a function that would be unfeasible for any classical computer. Google was able to carry out a function in 200 seconds and based on their calculations, it would take a supercomputer 10,000 years to complete the same function, the QRL team revealed.

They added:

It appears that quantum resistance is not on the Ethereum roadmap, so this is where I think the QRL team can help. Project EnQlave is an Ethereum smart contract that creates a quantum secure safe to store your Ethereum cryptocurrency.[this means, that] using your browser, you can access your Ethereum and transfer funds into a quantum secure safe, all while staying on the Ethereum blockchain.

However, the cost associated with doing this is that every time a smart contract is called or invoked for this purpose (moving funds in and out of your EnQlave wallet), you would incur a gas (fee) charge from the Ethereum network, The gas charge price is set by ETH miners who are processing transactions on the worlds largest smart contract development platform.

Gas fees are a financial incentive for Ether miners to process users transactions.

The QRL team recommended:

Due to gas costs, EnQlave works best as a long-term, post-quantum secure storage solution. Its not something youd want to move your funds in and out of every day.

As of June 2020, EnQlave has been running on an internal test network (testnet) and the code is being audited.

As previously reported, many experts believe quantum computers could completely shatter the current Internet security systems protecting the Bitcoin (BTC) network, digital payments, and IoT devices.

See original here:

Ethereum (ETH) Might Not have Quantum Resistance on its Roadmap, the QRL Team Reveals - Crowdfund Insider

Introduction

The U.S. Patent and Trademark Office (USPTO) has recently published that Visa (V) has filed a patent application for a digital fiat currency. The application mentions Ethereum (ETH-USD) several times, suggesting that the Ethereum blockchain could be the one used for the project. Should the project go through, its implications are significant for both parties.

Source

The patent describes techniques for the generation of a digital currency and the subsequent removal of the physical currency from circulation in the standard fiat (government-issued) currency system. The application abstract states:

Techniques are disclosed which include receiving, by a central entity computer, a request for digital currency. The request includes a serial number and a denomination of a physical currency. The central entity computer generates the digital currency for the denomination and linked to the serial number. The generating includes recording the digital currency on a blockchain. The central entity computer transmits a notification of the generation of the digital currency. The central entity computer causes removal of the physical currency from circulation in a fiat currency system."

The patent refers to the generic term "digital fiat currency". It can be assumed that its first application will be to the US dollar, but other international currencies could soon follow.

Figure 1 - Process Architecture - Source

The whole process will be recorded on a blockchain. For those who are not familiar with the technology, a blockchain is decentralized, distributed ledger that records the provenance and exchange of digital assets through a transparent and secure process. In its first application, bitcoin (BTC-USD), blockchain technology allowed to perform financial transactions without relying on a central trusted third party. Removing the need for a centralised third party has been shown to, ultimately, improve efficiency, security, and reliability processes. In this specific application, it would solve the need of creating an immutable record of transactions while achieving efficiencies and cost-saving on several aspects.

Significant cost reduction is achievable through the adoption of the technology. Reconciliation expenses are the first thing to consider. "In accounting, reconciliation is the process of ensuring that two sets of records are in agreement. Reconciliation is used to ensure that the money leaving an account matches the actual money spent. This is done by making sure the balances match at the end of a particular accounting period."

Across almost all financial services, reconciliation is an expensive and time-consuming process. The lack of transaction transparency and inefficient information sharing across organisations lead to delays and extra expenses. Examples of this can be found in the workflows of trade settlement and trade finance, cross-border and domestic payments, credit letters settlement, and many more. Using blockchain, the time and cost of these reconciliation efforts could be drastically reduced since all parties get instant visibility of transaction and information, maintaining high security and immutability of records.

Audit costs could also be reduced since each transaction is recorded sequentially and indefinitely, providing an audit trail for all assets and transactions that have been successfully executed.

Other examples include information sharing between parties, such as KYC (Know-Your-Customer) and AML (Anti-Money-Laundering) data, an all kinds of workflows automation, such as using smart contracts for accounts payable/receivable and data validation.

In this particular application, Visa aims at receiving physical fiat currency and replace it into the system with digital currency recorded on a blockchain. Therefore, this would slowly absorb physical currency from the current system, potentially achieving a gradual shift to a cashless society. For Visa, dealing with digital currencies will provide a frictionless environment that will significantly increase efficiency and allow it to achieve all the above-mentioned cost-saving benefits.

The blockchain use by the project could be the Ethereum blockchain, as it is mentioned several times in the patent application, such as:

In some embodiments, Ethereum may be used to implement various aspects described herein.

In some embodiments, digital fiat currency may be implemented using Ethereum as illustrated in FIGS. 9A-9D."

The Ethereum blockchain seems, therefore, a valid candidate for the project. If you are not aware of the Ethereum network or you want to know more about it, I highly suggest you read my previous article, "The Present and Future of The Ethereum Network". Currently, due to scalability issues, such a high volume of transactions is probably not feasible on Ethereum or any other pure decentralised blockchain network. However, scalability is set to improve significantly due to the series of updates known as Ethereum 2.0. Developers are also working on other solutions to improve Ethereum scalability, such as Matic, a sidechain scaling solution that is now live on the Ethereum main-net. As an alternative, Visa could decide to settle with a centralised, less-secure second layer on top of the Ethereum blockchain, with only periodic synchronisations with the Ethereum main-net.

The filing of a patent application does not necessarily mean they have any intention of actually rolling it out. Competitors could be working on the same lines, and patenting the technology could be a way to kill the competition.

However, I believe this specific patent has huge potential since it is tied with the figure of a central authority or central bank. The patent states that these central authorities could be entities "responsible for the production and distribution of money and credit in a region (e.g., a nation)" and would have "exclusive permission to transform physical currency into digital currency in order to regulate the value of the digital currency". To ensure that this digital coin value is stabilized, for every time a dollar worth of digital fiat currency is generated, the central entity ensures that a corresponding physical dollar bill is removed from circulation, in order to regulate the value of the digital fiat currency.

This central entity would have control of the timing and quantity of the digital currency issuance and would manage "the destruction of units of physical currency in connection with the generation of corresponding units of digital fiat currency". To me, this seems like the only way in which the government could complete the switch to a cashless society in the never-so-near future completely digital world. It would be no surprise since many governments are embracing digital currencies. China already stated to be close to the release of its own digital currency, Singapore is testing blockchain digital currency system for banks, while Ghana is about to start testing an actual central bank digital currency, with Deputy Governor Maxwell Opoku-Afari stating:

Individuals, businesses, and government have shown a strong preference for digital payments for reasons of convenience, efficiency, speed, affordability, round the clock availability and robust audit trail."

Recently, Americans got an exposure to the idea of a sovereign digital currency when a digital dollar bill was included in the proposed solutions for distributing federal handouts during the COVID-19 crisis. While this proposal was eventually left by the wayside, on June 11th, the US congress devoted an entire hearing to the subject, demonstrating that the idea is now closer than ever to becoming reality.

Should the government go ahead with the transition, Visa could find itself in a very strong position, having patented the most straightforward system to do exactly what the government would be needing to do. In that case, the government would not be seen as a patent "infringer" but it would probably agree to offer compensation for the use of someone else's patent. In any way, Visa could have just cemented its position as the main government partner in the shift to monetary digitalisation that is bound to happen in the future.

I rate VISA a strong BUY.

If you found this article of value, please follow (near the title) and/or press "Like this article" just below.

Disclosure: I am/we are long V, ETH-USD, BTC-USD. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Additional disclosure: I am not a financial advisor. All articles are my opinion - they are not suggestions to buy or sell any securities. Perform your own due diligence and consult a financial professional before investing or trading.

More:

Visa And The Digital Dollar On Ethereum - Seeking Alpha

EOS

EOS rose by 0.36% on Saturday. Following on from a 3.38% gain on Friday, EOS ended the day at $2.6063.

A bearish start to the day saw EOS fall to an early morning intraday low $2.5549 before making a move.

Steering clear of the first major support level at $2.5182, EOS rallied to a late intraday high $2.6209 before easing back.

Falling short of the first major resistance level at $2.6490, EOS fell back to sub-$2.58 levels before wrapping up the day at $2.60 levels.

At the time of writing, EOS was down by 0.36% to $2.5970. A bearish start to the day saw EOS fall from an early morning high $2.6105 to a low $2.5944.

EOS left the major support and resistance levels untested early on.

EOS would need to avoid sub-$2.5940 levels to take bring the first major resistance level at $2.6332 into play.

Support from the broader market would be needed, however, for EOS to break out from Saturdays high $2.6209.

Barring an extended crypto rally, the first major resistance level at $2.6332 would likely limit any upside.

Failure to avoid a fall through the $2.5940 pivot could see EOS struggle on the day.

A fall through the $2.5940 pivot would bring the first major support level at $2.5672 into play.

Barring an extended crypto sell-off, however, EOS should steer well clear of the second major support level at $2.5280.

Major Support Level: $2.5672

Major Resistance Level: $2.6332

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum rose by 0.25% on Saturday. Following on from a 3.21% rally on Friday, Ethereum ended the day at $238.17.

It was a choppy start to the day. Ethereum fell to a late morning intraday low $234.11 before finding support.

Steering clear of the first major support level at $234.4, Ethereum rallied to a late intraday high $238.8.

Falling short of the first major resistance level at $242.1, Ethereum fell back to sub-$236 levels before finding late support.

A late move back through to $238 levels delivered the upside on the day.

At the time of writing, Ethereum was down by 0.22% to $237.64. A bearish start to the day saw Ethereum fall from an early morning high $238.22 to a low $237.33.

Ethereum left the major support and resistance levels untested early on.

Story continues

Ethereum would need to avoid sub-$237 levels to support a run at the first major resistance level at $239.94.

Support from the broader market would be needed, however, for Ethereum to break out from Saturdays high $238.8.

Barring an extended crypto rally, the first major resistance level at $239.94 should cap any upside.

Failure to avoid sub-$237 levels could see Ethereum take a hit on the day.

A fall through the $237 pivot would bring the first major support level at $235.25 into play.

Barring an extended crypto sell-off, however, Ethereum should steer clear of sub-$230 levels. The second major support level at $232.34 should limit any downside.

Major Support Level: $235.25

Major Resistance Level: $239.94

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Ripples XRP fell by 0.30% on Saturday. Following a 2.66% gain on Friday, Ripples XRP ended the day at $0.19246.

A bearish start to the day saw Ripples XRP fall to a late morning intraday low $0.19087 before making a move.

Steering clear of the first major support level at $0.1883, Ripples XRP rallied to an early afternoon intraday high $0.19385.

Coming up short of the first major resistance level at $0.1964, Ripples XRP fell back to a low $0.19183 before finding support.

In spite of the late support, Ripples XRP was unable to move back through to $0.1930 levels and into the green.

At the time of writing, Ripples XRP was down by 0.12% to $0.19222. A mixed start to the day saw Ripples XRP fall to an early morning low $0.19214 before rising to a high $0.19263.

Ripples XRP left the major support and resistance levels untested early on.

Ripples XRP will need to move through to $0.1924 levels to support a run at the first major resistance level at $0.1939.

Support from the broader market would be needed, however, for Ripples XRP to break out from Saturdays high $0.19385.

Barring a broad-based crypto rally, the first major resistance level and Saturdays high would likely cap any upside.

Failure to move through the $0.1924 pivot could see Ripples XRP spend a 2nd day in the red.

A fall through sub-$0.1920 levels would bring the first major support level at $0.1909 into play.

Barring another extended crypto sell-off, Ripples XRP should avoid the second major support level at $0.1894.

Major Support Level: $0.1909

Major Resistance Level: $0.1939

23.6% FIB Retracement Level: $0.3638

38.2% FIB Retracement Level: $0.4800

62% FIB Retracement Level: $0.6678

Please let us know what you think in the comments below.

Thanks, Bob

This article was originally posted on FX Empire

Continued here:

EOS, Ethereum and Ripples XRP Daily Tech Analysis June 14th, 2020 - Yahoo Finance

Tether, a blockchain-enabled platform that powers the largest stablecoin by market capitalisation, has eclipsed Ripples XRP to become the second largest altcoin behind Ethereum tokens (ETH).

USD Tether (USDt) has made a rapid ascent in 2020, amid challenging market conditions and, at times, extreme levels of market volatility. USDt is also playing an increasingly important role as a valuable source of liquidity in the nascent DeFi space, which has spawned innovative financial products such as flash loans that form part of an alternative financial system.

USD Tether (USDt) has grown to a market capitalisation of USD9.6 billion, dwarfing the size of rival stablecoins by market capitalisation, trading volume and number of users. USDts market capitalisation has eclipsed that of XRP, which currently stands at US$8.5 billion, according to data from CoinMarketCap, a provider of cryptocurrency market data.Tether is manifestly growing in popularity as the most liquid, stable and trusted stablecoin, says Paolo Ardoino, CTO at Tether. Tethers ascent to become the third biggest cryptocurrency underlines the pivotal role USDt plays in the cryptocurrency ecosystem. The march of USDt is gathering momentum amid growing recognition that stablecoins will play an important role in the future of finance as a trusted and robust form of digital money.

As of 12 May, 2020, USDt has a market share of 77.84 per cent among Ethereum-based stablecoins, according to recent research by The Block. USDts outstanding Ethereum-based supply has grown by about 113 per cent year-to-date to from USD2.3 billion to USD4.9 billion. The aggregate Ethereum-based stablecoin market capitalisation has increased 95.38 per cent year-to-date to USD6.25 billion, research from The Block found.

Tether functions as the reserve currency for the crypto market, says Ardoino. The recent market instability has demonstrated that there is a huge need for this asset. Investors want a safe haven to reduce the risk in their portfolios.

In addition to its Ethereum-based version of USDt, there are versions of USDt that work on Algorand, Ethereum, EOS, Liquid Network, Omni and Tron. Tether is driven to support and empower growing ventures and innovation in the blockchain space.

Visit link:

Tether becomes second largest altcoin behind Ethereum tokens - HedgeWeek

Many people are familiar with blockchain technology, but did you know that Ethereum has the largest and most active blockchain community in the world?

Unlike many other blockchain networks, Ethereum is programmable. This customizable feature has enabled developers to solve problems ranging from digital identification and privacy, to corporate ownership and data security.

When the blockchain community disagrees on what changes the network needs to function smoothly or when such changes should take place, developers plan for a fork (an offshoot) of the underlying code rules.

Todays graphic maps out the major Ethereum blockchain forks that have occurred to date, highlighting key events that surrounded each of these updates. It also includes details on the highly anticipated Istanbul hard fork, planned for December 2019.

Forks are common practice in the software industry, and happen for one of two reasons: split opinions within the community, and required changes to the blockchain code.

When either reason is discussed, four major types of forks can occur.

There are currently three types of hard forks:

Lets dive into the timeline of major Ethereum forks, and explore a few of their defining moments and characteristics.

Below are some of the most prominent and important forksboth hard and softon the Ethereum blockchain since its launch.

Vitalik Buterin, founder of Ethereum, and his team finished the 9th and final proof of concept known as Olympic in May 2015. The Ethereum blockchain, also known as Frontier, went live shortly after, on July 30, 2015.

Also known as Frontier Thawing, this was the first (unplanned) fork of the Ethereum blockchain, providing security and speed updates to the network.

Homestead is widely considered Phase 2 of Ethereums development evolution. This rollout included three critical updates to Ethereum: the removal of centralization on the network, enabling users to hold and transact with ETH, and to write and deploy smart contracts.

The Decentralized Autonomous Organization (DAO) event was the most contentious event in Ethereums short history. The DAO team raised US$150 million through a 2016 token salebut an unknown hacker stole US$50 million in ether (ETH), prompting the developer community to hard fork in order to recover the stolen funds.

Widely regarded as the only Ethereum fork of any significance, this hard fork was based on the controversial DAO event. The original chain became known as Ethereum Classic, and the new chain moved forward as the main Ethereum chain.

This September 2019 hard fork event required all software users to upgrade their clients in order to stay with the current network. Enhancements included better security, stability, and network performance for higher volumes of traffic.

Regarded as the third phase of Ethereums evolution, the Metropolis-Byzantium soft fork functioned more like an operating system upgrade, rather than a full split.

Constantinople is the current version of the Ethereum blockchain. This hard fork occurred concurrently with the St. Petersburg update. Important changes included closing a major security loophole that could have allowed hackers to easily access users funds.

Constantinoples most notable improvements include smart contracts being able to verify each other using only the unique string of computer code of another smart contract, and reduced gas feesnamely, the price users pay to process transactions more quickly.

The Ethereum community is preparing for the next hard fork event Istanbul, scheduled for release on December 4th, 2019.

Ethereums 4th and projected final stage of development is Serenity, which has yet to be scheduled. Community members have speculated what changes will come with Serenity, but many agree that the Ethereum blockchain will shift focus from Proof of Work to Proof of Stake.

Proof of Stake means that there is less competition for completing blocks of data, significantly reducing the energy required to process data. Currently, a single Bitcoin transaction consumes the same electricity as 1.75 American households do in a day.

Ethereum continues to be a leading blockchain platform, with the highest number of decentralized apps (dApps) and a massive, engaged community.

To date, cryptocurrencies have largely been the focus of news headlines. However, weve only begun to scratch the surface of what blockchain can offer, and the value it will create beyond the financial world.

[Blockchain] could be the foundation of a whole new era whereby our basic right to privacy is protected, because identity is the foundation of freedom and it needs to be managed responsibly.

Don Tapscott, Executive Chairman of the Blockchain Research Institute

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Cryptocurrency: Redefining the Future of Finance - Visual Capitalist

In the second part of the interview with Skale Network CTO Konstantin Kladko, he explainedwhy he believes that Ethereum (ETH) is more than just the Eth 2.0 roadmap, and what he believes to be the best use case for it.

Kladko is quite vocal about the failures of other layer-two solutions, though Skale itself partially relies on Ethereum. As Kladko explained:

Our token lives [on Ethereum]. When you register nodes on Skale, you register [them] through ETH. We probably have the largest ever set of smart contracts on ETH mainnet.

This architecture is consistent with Kladkos view that the ecosystem behind Ethereum is at this point an unstoppable bulldozer and that now its pretty much pointless and hopeless to compete with Ethereum.

Kladko recounted an episode in his life from the year 2000, when he was working at Stanford:

A friend of mine [...] got to my office and [...] he showed me Google. And the moment I saw this, the moment I just typed in the search query, I saw that this is going to be a hundred billion dollars company.

Sometimes in life you get this feeling, he added, mentioning Steve Jobspresentation of the iPhone in 2007 as another case of this.

For Ethereum, the same happened at Devcon 3, a conference held in November 2017. It was clear to us that even at that time, Ethereum had incredible momentum, he said.

For Kladko, the momentum and the community are the only things that matter for an ecosystem. Technology can always be fixed, he added.

When asked about how Ethereum 2.0 and its delays tie into the unstoppable bulldozer theory, he compared it to some programming languages like Java, which despite regularly taking double the planned time between releases was able to assert itself on the market. Continuing the analogy, he said:

So I think thats very much the same story with ETH. It doesnt really matter. Theyllprobably have delays because theyre all mature and open-source guys, but in the meantime, startups like ours will help. You will be able to do lots of things on ETH 1.0 plus Skale.

Skale, as the name suggests, aims at scaling blockchain through a sharded architecture, which he believes can compete with more centralized cloud platforms like AWS.

He recounted a science fiction novel that inspired him in this, Invincible by Stanislaw Lem. In the novel, a planet is engulfed in a war between two computer civilizations. One is made of large computers, and another is made of tiny swarms that can assemble into anything the swarms eventually win due to their flexibility.

As Kladko explained, Skale seeks to power the next wave of decentralized applications, which he says will replace Google, Facebook and other centralized data platforms.

People want to have the power, they want to control their data, and it's actually getting huge. And for this one, you actually need to use blockchain.

But Ethereum 2.0, with its 64 shards and thousands of transactions per second, is still not enough to host a decentralized Google, explained Kladko.

Skales vision in the next ten years is that Ethereum will provide a base security layer, and the thousands of transactions will be used by other networks like ours as a foundation.

Read more here:

Skale CTO: Ethereums Strength Is the Ecosystem, Not Its Roadmap - Cointelegraph

Four years after the $55 million hack on the DAO threatened the future of a new blockchain system known as Ethereum, the crypto community is giving it a second try.

Its known as the LAO this time, which stands for Limited Liability Autonomous Organization. If that sounds like some kind of cyber law firm, thats the point. Unlike the DAO, or decentralized autonomous organization, project where anyone with an Ether wallet could join in an effort to provide funding to startup projects, the LAO is limiting the number of participants as well as the amount of cryptocurrency they can contribute. So far, the LAO has raised 3,600 Ether, worth about $878,000, and awarded its first funding to a startup.

By contrast, when the DAO was attacked in June 2016 it held $250 million of Ether and counted thousands of participants. It was the most ambitious project seen on Ethereum at that time when the network was less than one year old. In a controversial move that still is argued over these days, the Ethereum community voted to change the blockchain history to make it so the DAO attack never occurred and no one lost any money.

Yet the spirit of wanting to help pick projects worthy of funding to further the Ethereum ecosystem has never gone away, said Aaron Wright, co-founder of OpenLaw, a digital contracting system that helped create the LAO.

I dont think that vision has ever dimmed when it comes to Ethereum, said Wright, who is also a professor at Cardozo Law School in New York. A lot has been learned about security, governance and making the LAO work inside of existing U.S. law, he said. This time, the LAO ties every transaction to legal documents via so-called smart contracts and the investors are vetted to ensure know-your-customer and anti-money laundering laws are obeyed, Wright said.

We have a robust set of tools to experiment with DAOs, and thats what the LAO is about, he said. The LAO is the marriage of the legacy world and the crypto world.

Like the DAO, the LAO works as a type of virtual venture capital fund. LAO users, who Wright said are more like partners in a partnership than security owners, contribute a maximum of 120 Ether each. Startups pitch their projects to the LAO participants who then vote on whether they think it deserves funding. Right now there are 42 LAO proposals for things like creating a market for digital art to something called The IAO that describes itself as like the LAO but for fishing, according to the LAOs web site.

One supporter of the LAO is Christoph Jentzsch, the co-founder of slock.it who wrote the code for the DAO in 2016. At the time, lawyers told Jentzsch that if a terrorist organization had somehow received funding through the DAO that other DAO users could be held liable, he said. Thats no longer a threat with the LAO.

Their whole idea about limiting liability is great because that was certainly lacking in the DAO, he said. Jentzsch, who owns 1% of the LAO and is able to vote on projects for funding, said if it can become a for-profit venture it could help solve the funding issue facing Ethereum projects. On the other hand, he worried that LAO investors might not spend much time vetting projects as they only have a small amount of Ether at stake.

This is a bit missing in the LAO, he said, referring to an economic incentive to do a lot of due diligence on projects.

The first startup to receive funding from the LAO is called Tornado.Cash, which received 244 Ether, worth about $59,000, Wright said. It adds a layer of privacy to Ethereum transactions that are traceable on the Ethereum blockchain if a persons address is known.

Read More: New Startup Aims to Prove Blockchain Is Fast Enough for Finance

Before it's here, it's on the Bloomberg Terminal.

See more here:

Ethereum Users Giving the DAO Another Try After Digital Stickup - Bloomberg

EOS

EOS tumbled by 8.86% on Thursday. Reversing a 0.37% gain from Wednesday, EOS ended the day at $2.5193.

A relatively bullish start to the day saw EOS rise to an early morning intraday high $2.7772 before hitting reverse.

Falling well short of the first major resistance level at $2.7958, EOS tumbled to a late afternoon intraday low $2.4250.

The reversal saw EOS fall through the major support levels before a move back through to $2.54 levels.

In spite of the partial recovery, however, EOS failed to break back through the third major support level at $2.6039.

A bearish end to the day left EOS back at sub-$2.52 levels.

At the time of writing, EOS was down by 0.87% to $2.4973. A bearish start to the day saw EOS fall from an early morning high $2.5132 to a low $2.4891.

EOS left the major support and resistance levels untested early on.

EOS would need to move through to $2.5740 levels to take bring the first major resistance level at $2.7227 into play.

Support from the broader market would be needed, however, for EOS to break back through to $2.60 levels.

Barring an extended crypto rally, resistance at $2.60 would likely leave EOS short of the first major resistance level at $2.7227.

Failure to move through the $2.5740 pivot could see EOS struggle for another day.

A fall back through Thursdays low $2.4250 would bring the first major support level at $2.3705 into play.

Barring another crypto meltdown, however, EOS should steer well clear of the second major support level at $2.2216.

Major Support Level: $2.3705

Major Resistance Level: $2.7227

23.6% FIB Retracement Level: $6.62

38% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Ethereum slid by 7.22% on Thursday. Reversing a 1.64% gain from Wednesday, Ethereum ended the day at $230.15.

Tracking the broader market, Ethereum rose to an early morning intraday high $250.26 before hitting reverse.

Falling short of the first major resistance level at $251.68, Ethereum slid to a late afternoon intraday low $225.2.

The meltdown saw Ethereum fall through the days major support levels before finding support.

Late in the day, Ethereum moved back through the third major support level at $230.04 to limit the downside.

At the time of writing, Ethereum was down by 0.10% to $229.93. A bearish start to the day saw Ethereum fall from an early morning high $230.15 to a low $227.84.

Ethereum left the major support and resistance levels untested early on.

Story continues

Ethereum would need to move through to $235 levels to support a run at the first major resistance level at $245.21.

Support from the broader market would be needed, however, for Ethereum to break back through to $240 levels.

Barring an extended crypto rally, the first major resistance level at $245.21 should cap any upside.

Failure to move through to $235 levels could see Ethereum lose more ground.

A fall through the morning low $227.84 would bring the first major support level at $220.15 into play.

Barring another extended crypto sell-off, however, Ethereum should steer clear of sub-$220 and the second major support level at $210.14.

Major Support Level: $220.15

Major Resistance Level: $245.21

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Ripples XRP slid by 7.44% on Thursday. Reversing a 0.91% gain from Wednesday, Ripples XRP ended the day at $0.18808.

A relatively bullish start to the day saw Ripples XRP rise to an early morning high $0.20388 before taking a hit.

Falling short of the first major resistance level at $0.2047, Ripples XRP tumbled to a late afternoon intraday low $0.18401.

Ripples XRP fell through the days major support levels before briefly recovering to $0.1920 levels.

Coming up short of the third major support level at $0.1939, however, Ripples XRP fell back to sub-$0.19 levels.

At the time of writing, Ripples XRP was up by 0.21% to $0.18848. A mixed start to the day saw Ripples XRP fall to an early morning low $0.18686 before striking a high $0.18860.

Ripples XRP left the major support and resistance levels untested early on.

Ripples XRP will need to move through to $0.1920 levels to support a run at the first major resistance level at $0.2000.

Support from the broader market would be needed, however, for Ripples XRP to break back through to $0.1950 levels.

Barring a broad-based crypto rally, resistance at $0.1950 would likely leave Ripples XRP short of the first major resistance level.

Failure to move through the 0.1920 pivot could see Ripples XRP fall back into the red.

A fall back through Thursdays low $0.18401 would bring the first major support level at $0.1801 into play.

Barring another extended crypto sell-off, Ripples XRP should avoid the second major support level at $0.1721.

Major Support Level: $0.1801

Major Resistance Level: $0.2000

23.6% FIB Retracement Level: $0.3638

38.2% FIB Retracement Level: $0.4800

62% FIB Retracement Level: $0.6678

Please let us know what you think in the comments below.

Thanks, Bob

This article was originally posted on FX Empire

See the article here:

EOS, Ethereum and Ripples XRP Daily Tech Analysis June 12th, 2020 - Yahoo Finance

The global technology transformation has increased the demand for blockchain technology. There has been a boom of innumerable cross-chain and consortium blockchain projects in the industry. Some of them have been developing, and some have failed.

On June 1, Cointelegraph China hosted its third HUB LIVE event to discuss the topic: Ethereum 3.0: A Silicon Valley Star Project CasperLabs. Cointelegraph China HUB is an online interview show initiated by Cointelegraph China. Speaking with the leaders of the blockchain and cryptocurrency world, we discuss the development opportunities and challenges of the industry segments today and how businesses can break through the current situation to eventually lead in the future. HUB LIVE is the video column of HUB. The third HUB LIVE event was hosted by Tracy Zhang, the commercial director of Cointelegraph China, and the show invited Mrinal Manohar and Cliff Sarkin as guests and had Steve Yue and Waylon Wu as the technology reviewers.

The first part was a Q&A with the CEO and COO of CasperLabs to get a quick and clear look at CasperLabs powerful technology content and the overall project outlook. In the second part the round table two technical experts, Yue and Wu, had an in-depth discussion with Manohar and Sarkin to analyze and discuss the development of blockchain technology and CasperLabs from a professional perspective.

Mrinal Manohar is the CEO and co-founder of CasperLabs. He received his master degree in Carnegie Mellon and has worked at Microsoft, Oracle, Bain & Company and Bain Capital. He also contributed to the open-source program of BitTorrent in 2002 and has been investing in cryptocurrency since 2012.

Cliff Sarkin is the COO of CasperLabs and received a bachelors degree from the University of California, Berkeley and a Juris Doctor degree from Harvard Law School. Before joining CasperLabs in January 2019, he was the vice president of business development at DNA, a leading blockchain venture fund in its early stages.

Steve Yue is a partner and the director of business development at DoraHacks. He graduated from the Tsinghua School of Economics and Finance.

Waylon Wu is a former Bay area engineer and an early adopter of blockchain technology.

1. Cliff Sarkin: Every decision at CasperLabs is made to broaden participation, ownership and ease of use.

2. Mrinal Manohar: Ethereum 3.0 is the full transition to proof-of-stake using CBC-Casper. We are releasing a blockchain with our provably live implementation of CBC-Casper this year.

3. Cliff Sarkin: CasperLabs will be publishing research on novel DDoS style attacks soon and how we can prevent them. This should benefit the industry overall.

4. Mrinal Manohar: App developers will have unprecedented control over their contracts. Our blockchain architecture does not mandate any transmission of private data to the blockchain.

5. Mrinal Manohar: CasperLabs is in the process of establishing a developer DAO with a very significant allocation of resources that will be solely managed by external developers to help drive the ecosystem and long term sustainability of the platform.

6. Mrinal Manohar: Having a lot of public blockchains is not a bug; it is a feature of innovation.

7. Mrinal Manohar: CasperLabs will continue to engage deeply with communities even as the coronavirus restrictions open up. We aim for a lot of in-person events, hackathons and much more which should see these trends gain more popularity. The launch is approaching, and we have begun preliminary conversations with leading universities.

8. Mrinal Manohar: CasperLabs never wants to sacrifice security and decentralization, and as a result, we use fundamental mathematical models to achieve this.

CasperLabs is athe blockchain platform purpose-built to scale opportunity for everyone. Building toward blockchains next frontier, CasperLabs is designed for real-world applications without sacrificing usability, cost, decentralization, or security. CasperLabs removes the barriers that prevent mainstream blockchain adoption by making blockchain friendly to use, open to the world, and future-proof to support innovations today and tomorrow. Guided by open-source principles and built from the ground up to empower individuals, the team seeks to provide an equitable foundation made for long-lasting impact.

Website: https://casperlabs.io/

Technical Specification: https://techspec.casperlabs.io/

Consensus Proofs: https://github.com/CasperLabs/highway/releases/download/v1.0/highway.pdf

Explorer: https://explorer.casperlabs.io/#/

Github: https://github.com/CasperLabs

Medium:https://medium.com/casperlabs

Twitter:https://twitter.com/meetCasperLabs

YouTube: https://www.youtube.com/c/CasperLabs

This is a paid press release Cointelegraph does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. Readers should do their own research before taking any actions related to the company. Cointelegraph is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

See the article here:

CTC HUB | CasperLabs: Ethereum 3.0 and A Silicon Valley Star Project - Cointelegraph

The controversial Facebook-led Libra project is reportedly the most active project in terms of developer activity, according to CoinCodeCap data.

There are 41 active developers working on Libra, meanwhile, Ethereum (ETH), the worlds largest smart contract platform, has 36 active developers, the data site reveals.

Other active open-source protocols include Near (NEAR), Bitcoin Cash (BCH), CELO, and IOTA even though it recently experienced serious issues including a million dollar hack.

Filecoin (FIL), a highly-anticipated blockchain project that has been aggressively rolling out updates, is the 7th most active project right now in terms of developer activity.

Insolar (XNS), a Swiss enterprise blockchain development firm that counts Microsoft, Oracle and AT Kearney amongst its business partners and clients, has also consistently been in the top 10 in terms of having the most active development.

As confirmed in a separate report by Outlier Ventures, blockchain interoperability project Cosmos (ATOM) has seen many developers contribute to the ongoing development of its protocol.

Meanwhile, Bitcoin (BTC) development has remained steady due to the significant amount of support it receives in terms of grants to developers, and also international support from established organizations like the Human Rights Foundation.

Development for stablecoin Dai, Decred (DCR), Stellar (XLM), Algorand (ALGO), Waves, Lisk (LSK), and Cardano (ADA) has remained fairly steady despite the COVID-19 outbreak and resulting economic uncertainty.

Despite being a fairly new player in the competitive DLT space, Libra has managed to attract 176 active authors in the past year which is a lot more than any other project.

This has all been going on while Facebook had to make significant changes to it development roadmap for Libra, after regulators heavily scrutinized the initiative citing concerns about the social media giants issues related to privacy and many lawmakers being against Big Tech moving into finance.

As reported, Facebooks Libra may serve as signal that Fintech firms like Visa, Paypal, Booking.com have been eager to explore stablecoins, one of the fastest-growing sectors in decentralized finance (DeFi) and the blockchain space, in general.

Lex Sokolin, the Global Fintech Co-Head and CMO at ConsenSys, a leading Ethereum (ETH) development studio based in New York, told CI in recent interview:

I think Libra will be very impactful, no matter what form it takes. If it just takes the form of a payment rail for CBDCs, that already is massively important. The existence of such a regulated blockchain rail, being private and closely regulated, will by definition take market share away from other types of permissionless open blockchain rails.

Here is the original post:

Facebooks Libra Stablecoin Project, Ethereum (ETH), Near, Bitcoin Cash are Currently Most Active Development Projects: Report - Crowdfund Insider

For the day ahead

Ethereum would need to move through to $244.30 levels to support a run at the first major resistance level at $249.71.

Support from the broader market would be needed, however, for Ethereum to break back through to $249 levels.

Barring an extended crypto rally, the first major resistance level and Tuesdays high $249.99 should cap any upside.

Failure to move through to $244.30 levels could see Ethereum see spend another day in the red.

A fall back through to sub-$240 levels would bring the first major support level at $238.63 into play.

Barring another extended crypto sell-off, however, Ethereum should steer well clear of the second major support level at $233.23.

Major Support Level: $238.63

Major Resistance Level: $249.71

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Ripples XRP fell by 1.49% on Tuesday. Reversing a 0.44% gain from Monday, Ripples XRP ended the day at $0.20120.

It was also a choppy start to the day for Ripples XRP. Within the 1st hour, Ripples XRP rose to an early morning high $0.20541 before hitting reverse.

Coming up against the first major resistance level at $0.2056, Ripples XRP slid to an intraday low $0.19979.

The sell-off saw Ripples XRP fall through the first major support level at $0.2022 and the second major support level at $0.2001.

Ripples XRP recovered to $0.2035 levels before taking a 2nd hit in the afternoon. Ripples XRP slid back through the first major support level to a low $0.20016 before finding support.

A return to $0.2023 levels was brief, however. A bearish end saw Ripples XRP fall back through the first major support level in the final hour.

At the time of writing, Ripples XRP was down by $0.10% to $0.20100. A bearish start to the day saw Ripples XRP fall from an early morning high $0.20120 to a low $0.20099.

Ripples XRP left the major support and resistance levels untested early on.

Read the original here:

EOS, Ethereum and Ripple's XRP - Daily Tech Analysis June 10th, 2020 - FX Empire

This press release was orginally distributed by SBWire

Riga, Latvia -- (SBWIRE) -- 06/15/2020 -- Blockchain-based online gaming and gambling platform AceDBets has made good progress ever since going live earlier this year in March 2020. Since then, the developers of AceDCoin have been working to add many sporting events, as the platform hosts over 15 different online gambling facilities.

The platform offers support for Bitcoin but also has its own native cryptocurrency called AceD. All bets on the platform are in AceD and users can withdraw money from their AceD wallets anytime they want.

However, the developers have decided to undergo a major change. As per their latest community announcement, the AceD cryptocurrency will be swapped to AceD tokens.

This means that AceDBets will be moving away from its traditional MasterNodes platform. The decision of this swap arrived after a number of bad actors exploited the MasterNode rewards for a long time. This has not impacted the reputation of the platform, but brought down the value of AceD coins.

Switching to the Ethereum NetworkThe developers of AceDCoin have decided to move their base to the Ethereum blockchain platform. They think the switch to Ethereum network will help them overcome all these problems and hopefully boost the price of AceD tokens.

The developers have thus requested some co-operation from the existing token-holders to make this swap process absolutely swift and hassle-free.The swap of AceD tokens already took place in the last week of May.

The AceDCoin team has confirmed that the swap was successful and any swap requests coming forward shall be honored to a 1:1 ratio. The new Ethereum-based AceD tokens will be soon available in their official website i.e. acedbets.io. Thus, users will be able to start betting using the new Token.

Speaking about their successful swap, the AceDCoin team said: "Overall the swap was a success, we are proud to have made history by conducting the first Crypto Swap on a sportsbook. This proves that our platform's capacity and security is top notch as there was 0 Fallout".

Henceforth, the old AceD chain has become redundant. Also, the total supply for the AceD tokens have been maxed by four times to 100 million tokens.

After the successful swapping, all the non-circulating tokens are moved to a single address and shared publicly. However, in the near future, the cold staking facility will be available on AceDBets. AceD and GIN Strategic Merger

The AceDCoin team is currently discussing with other cryptocurrency projects Livecoin regarding a potential merger. Some of the benefits of this merger would be:- AceD will be listed on Livecoin (We will replace their current listing with AceD token) Approximately 4BTC to list on Livecoin right now.- AceD will receive rights to their twitter account (Over 5000 followers)- All the coin holders will receive a set swap ratio for the new aced token, this will expand the aced community and bring instant demand and value to AceD Token.- We will also be opening new sectors of business for ACED which will be carried over from merging the project's development team.

This will ultimately create a win-win situation for both AceD and GIN communities. With this merger, AceD will get access to a larger and quality community. This merger will help to bring more users and thus create bigger awareness to AceD's sportsbook, entertainment hub, and ecosystem.

As stated above, AceD will take over and put back life in GIN's Livecoin listing. You can read more details about the merger here.

Successful OTC Sale of 50 Million AceD Tokens And InPlay Betting

Recently, due to the high demand, AceDCoin team is conducting an additional OTC sale of 50 million AceD Tokens live on the Graviex exchange. The proceeds of this sale will go further platform development like exchange listings, aid development, maintenance of the platform, and upcoming products.

Powered by the AceDCoin Tokens, the AceDBet platform is a full scale sportsbook which offers comprehensive coverage of global events. The platform will soon be launching its much-awaited InPlay betting feature.

About CryptoshibCriptoshib tries to keep crypto enthusiasts updated with the latest happenings and stories from the crypto world. We try to post stories about projects and people of the crypto and blockchain communities from around the world.

Media Contact

AceDcoin Will Be Switching to Ethereum Network With AceD Swapping to AceD Tokens

For more information on this press release visit: http://www.sbwire.com/press-releases/acedcoin-will-be-switching-to-ethereum-network-with-aced-swapping-to-aced-tokens-1294125.htm

Continue reading here:

AceDcoin Will Be Switching to Ethereum Network with AceD Swapping to AceD Tokens - Press Release - Digital Journal

Ethereum 4 Hour Price Update

Updated June 16, 2020 01:36 AM GMT (09:36 PM EST)

The choppiness in the recent four-hour candle price action of Ethereum continues; to start the current 4 hour candle, it came in at a price of 231.33 US dollars, down 0.42% ($0.97) since the last 4 hour candle. On a relative basis, Ethereum was the worst performer out of all 5 of the assets in the Top Cryptos asset class during the last 4 hour candle.

Ethereum is down 0.27% ($0.63) since the day prior, marking the 2nd day in a row it has gone down. As for how volume fared, yesterdays volume was up 116.56% from the previous day (Sunday), and up 134% from Monday of the week before. Relative to other instruments in the Top Cryptos asset class, Ethereum ranked 3rd since the day prior in terms of percentage price change. Here is a daily price chart of Ethereum.

Notably, Ethereum is now close to its 20 day moving averages, which may act as price barrier for the asset. Volatility for Ethereum has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. For another vantage point, consider that Ethereums price has gone up 7 of the previous 14 trading days. Also, candlestick traders! Note we see pin bar pattern appearing here as well.

For laughs, fights, or genuinely useful information, lets see what the most popular tweets pertaining to Ethereum for the past day were:

If you think #DeFi will have a smaller impact on $ETH than ICOs, you arent paying attention.The ICO boom flexed #Ethereums ability to perform 1 financial service: early-stage capital formation. #DeFi will flex Ethereums ability to perform *all* financial services.

#DeFi is so early that no applications are safe from being overtaken by innovative projects. While I think certain infrastructure pieces are coming into place & will be harder to unseat, the dApp game is wide open with only $1B in DeFi on #Ethereum. Its gonna be fun to witness.

hey does anyone know whats going on these days with Charles Hoskinson, Co-founder of Ethereum? Does he have a youtube or tiktok or something?I think he could be a great CEO for some company, I wonder why he didnt go down that route

For a longer news piece related to ETH thats been generating discussion, check out:

Ethereum 2.0: The Choice Between Ones Own Node and a Staking Service

While a minimum stake of 32 ETH is needed to become a validator on Ethereum 2.0, staking pools and services make the participation possible for everyone.While some users have already opted to run their own validator node, others are still choosing among becoming an independent validator, joining a staking pool or using staking provider services.According to Consensys, at least 33% of Ethereum users plan to use third-party services and 20% of the respondents who previously revealed the intention to run their own validator nodes said they would consider using a staking service instead.According to him, Ethereum staking will be quite profitable for users who keep their funds on exchanges: Exchanges like Bitfinex will charge a tiny fee to cover operation costs, but the large majority of rewards will go directly into the pockets of the users.Not all users want to go through the process of custodying their own assets and learning how to stake properly. Changpeng Zhao, also known as CZ, the CEO of Binance crypto exchnage told Cointelegraph that users who actively stake via Binance will be able to earn higher interest rates than those who simply hold cryptocurrency in their accounts: Binance will stake a fractional reserve of the Ethereum held by our users, as we still require some funds to be liquid for users to withdraw at any time, while automatically distributing proportionately the rewards to our users. Another convenience of centralized platforms and custodial services is that they undertake the conversion of the users ETH to ETH2.However, in order to join the pool, users will need to have a minimum of 16 ETH half as much of the minimum amount needed to run an individual validator node, but a lot more than what crypto exchanges would require.

See more here:

Ethereum (ETH) Down $0.97 Over Past 4 Hours, Entered Today Down 0.27%; Pin Bar Pattern Appearing on Chart - CFDTrading