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Ethereum Price Analysis  Fundamentals  Ethereum (ETH) is superior and an upgrade of Bitcoin. Its native currency in ETH can operate within an ecosystem, powering smart contracting as a settlement coin.  Besides, considering the infinite number of possibilities that the platform opens up for visionaries, it is understandable that the community reacts the way it did to a single one word tweet by Elon Musk, the brains behind Tesla and Space X. Although there is nothing to conclude because Elon is yet to reply they may have taken their conversation offline, interest from such a leader is possible. In other positive news, an Ethereum developer, Hudson Jameson, did confirm the raising of $50k as funding for auditing ProgPOW.  “The ProgPOW audit is going to be funded. Everyone has confirmed their funding.  It should be started this week or next week hopefully.  There’s just some logistics to work out, meaning people have to sign some paperwork a...

The bitcoin btc price is down over 74 percent from its 2017-2018 highest record peak near $20,000. But that has not deterred institutional investors from strengthening their bullish positions in the market. The sentiment has led the world’s largest crypto asset investment firm to notch a record capital inflow this week. New York-based Grey scale Investments, a division of Digital Currency Group, brought in over $20 million in total investments, according to a statement issued by CEO and Founder Barry Silbert. The uptick marked Greyscale’s best week since 2017 and pushed the firm’s assets-under-management worth to circa $1.21 billion. The investment followed a shift in trading sentiment in the bitcoin market.  Upon establishing a socalled bottom towards $3,100 in December 2018, the bitcoin price corrected up to 70 percent in the positive territory.  It eventually settled for a new 2019 high towards $5,650 on April 23, only to correct laterwards and establish...

From a notorious crypto hacker on the move to new partnerships at Stellar and Tron, here’s a look at some of the stories breaking in the world of crypto.  Bitcoin A hacker who became an infamous crypto whale after stealing more than 100,000 Bitcoin from the crypto exchange Bitfinex in 2016 has apparently started transferring 550 of the BTC that was never recovered. Reddit user Jankeldidi spotted the stolen crypto worth nearly $3 million in motion.  The BTC has been transferred to 15 separate, new addresses, as shown by the data aggregator Blockchair. With so many eyes on the stolen crypto, it would be hard to sell on an exchange without it getting flagged and locked. However, the hacker could use a number of methods to try to turn the crypto into cash, including an attempt to mask the origin of the BTC through a mixing service. Ethereum  Ethereum scaling solution developer Prysmatic Labs just released a new update on Ethereum 2.0. Prysmatic says developm...

Ripple sold $169.42 million worth of XRP in Q1 2019, up over 31% from the preceding quarter, the company’s latest quarterly XRP Markets Report revealed on April 24.  While the $169.42 million figure represents a 31% increase in comparison with $129.03 million in Q4 2018, Ripple’s institutional direct sales figures saw an even greater uptick.  This quarter, the firm reported $61.93 million for such sales up over 54% from $40.15 million in Q4 2018.  XRP’s programmatic sales for this quarter were meanwhile reported at $107.49 million  up almost 21% from last quarter’s $88.88 million figure.  Overall, Ripple’s XRP sales accounted for 0.32% of total XRP trading volume in Q1 2019  up from 0.24% in Q4 2018. For Ripple’s Q1 escrow activity, the firm reports it released 3 billion XRP (1 billion per month) over the course of the quarter; however, 2.3 billion XRP were returned and put into new escrow contracts over the same time period.  The remaining r...

N OT GOING ANYWHERE  This would seem to be an understatement. People in every corner of the cryptocurrency industry have wished for Craig Wright to go away.  He mostly had until the advent of Bitcoin Cash in 2017, the successful fork that has continued to develop its on-chain scaling technology.  He became more relevant when Bitcoin SV forked that chain and he and Calvin Ayre became the de facto leaders of an even smaller fraction of Bitcoin believers. Wright also says that he and his firm are hard at work at patenting different aspects of the blockchain. The implication is that blockchains besides Bitcoin SV will have to pay to use the technology.  The distinction is that other systems will need to pay.  By the end of this year I hope that we will have around 1,000 patents published. More importantly, the initial patent families should place us in advance of any other player in the industry.  You see, we don’t publish straightaway. Others do, ...

Ripple price corrected lower recently and tested the $0.3175 level against the US dollar. The price bounced back and traded above the $0.3200 and $0.3220 resistance levels.  There was a break above a key bearish trend line with resistance near $0.3220 on the hourly chart of the XRP/USD pair (data source from Kraken).  The pair is currently forming a bullish continuation pattern and it could revisit the $0.3300 resistance. Ripple price is slowly recovering against the US Dollar, whereas still struggling versus bitcoin. XRP could recover further above $0.3280, but it is likely to struggle near $0.3320.  Ripple Price Analysis Recently, we saw a strong downside correction in ripple price from the $0.3470 swing high against the US Dollar. The XRP/USD pair declined below the $0.3320 and $0.3250 support levels.  The pair even broke the $0.3200 level and traded close to the $0.3175 level, where buyers took a stand. Finally, the price started a decent rebound and re...

Bitcoin spenders can now use the lightning network to shop at ecommerce sites like Amazon.  Crypto payment processing startup Moon announced today that any lightning enabled wallet can now also be used through Moon’s browser extension.  Before this lightning feature, roughly 250 beta users already used Moon to spend crypto on e-commerce sites by connecting the browser extension to exchange accounts like Coinbase.  Moon CEO Ken Kruger told CoinDesk: “[The extension] will pop up a QR code and it will have the lightning invoice, which you could also copy and paste if you can’t use the QR code for some reason, and you’ll be able to pay with your favorite lightning wallet.”  To be clear, Amazon itself never touches bitcoin. Kruger declined to specify which traditional financial institutions are helping convert the bitcoin to fiat on the backend so that Amazon merchants actually receive fiat currency for their wares.  However, Kruger added that by 2020...

From a Bitcoin craze in Brazil to the strength of Stellar Lumens, here’s a look at some of the stories breaking in the world of crypto. Bitcoin  Brazil now holds the Bitcoin trading record for Latin America, reaching more than 150,000 BTC worth roughly $800 million in the past 24 hours, according to the data tracker CoinTrader Monitor. The new high comes just days after local crypto exchanges in Brazil broke through 100,000 BTC in 24 hours, which was also a record breaker at the time, reports Crypto Facil. Brazil’s struggle with rising inflation, currently at 4.58%, along with Bitcoin’s sudden rise in price in the beginning of April, appear to have triggered th e recent surge in volume.  Spiraling inflation has also led to increasing adoption of Bitcoin and cryptocurrency in Venezuela and Argentina, highlighting the strength of digital assets as a store of value and a means of moving capital across borders. Ethereum  Have a question for Ethereum cre...

From a Bitcoin prediction gone viral to a brush with fate for Ripple and Ethereum, here’s a look at some of the stories breaking in the world of crypto.  Bitcoin A theory on how Bitcoin will plot a course back to its all-time high is going viral on Twitter.  The prediction, posted by a crypto trader who goes by the name B.Biddles, uses a popular stock trading indicator called a bump and run reversal (BARR), which highlights an accumulation phase followed by a bump to the downside and then a surge toward previous highs. According to an analysis of the theory from CCN, the BARR points to a potential Bitcoin breakout to $6,800. Meanwhile, Murad Mahmudov of Adaptive Capital predicts the bear market is not over yet. On Trading View, Mahmudov plotted an incoming BTC rally to about $5,700, where Bitcoin traded for months in mid 2018. After that, Mahmudov believes Bitcoin could then crash to $4,800. Mahmudov became well-known in the crypto community for outlining h...

The Ripple backed startup XRPL Labs has launched a new payments app designed to give store owners an easy way to accept XRP.  The app, called XRPayments, is now available on both iOS and Android via the App Store and Google Play Store. The app instantly turns any compatible device into a point-of-sale (PoS) system, allowing retailers to accept XRP on the spot.  The founder of XRPL Labs, Wietse Wind, says the app will be utilized at an upcoming XRP meetup in The Netherlands. XRPayments has a built in currency converter, allowing users in practically any country to instantly calculate the conversion from fiat to XRP.  XRPL Labs is also developing three additional XRP centered platforms. A signing platform that will allow users to access their funds on mobile devices and send and receive XRP A mobile cold storage operating system, giving XRP holders a secure app to create and manage cold wallets A web based decentralized exchange, allowing users to trade XRP ...

ETH price extended gains and rallied towards the $175 resistance area against the US Dollar. The price pumped sharply above the $169 and $170 resistance levels to test $174.  There is a solid bullish trend line formed with support at $168 on the hourly chart of ETH/USD (data feed via Kraken). The pair remains well supported on the downside near $170 and it could continue to rise towards $180. Ethereum price climbed higher above key levels versus the US Dollar, along with bitcoin.  ETH remains well bid and it seems like buyers could push the price towards $180 and $182. Ethereum Price Analysis Yesterday, we saw a strong rebound in Ethereum price above the $162 and $165 resistance levels against the US Dollar.  The ETH/USD pair even tested the $170 resistance level and settled above 100 hourly simple moving average.  Finally, the price broke the $169 and $170 resistance levels to extend the rally towards the $175 level (as discussed in yesterday’s analysis). ...

GNation is an international, multi-cultural ecosystem that intends to bring changes to the global gaming industry.  In achieving this goal, a special currency and multiple products will be used in combination with strategic initiatives and partnerships. Thanks to GNation, you’ll be able to purchase in-game content and earn from renting your CPU computing power to others members of this ecosystem. GNation customers may additionally get a free entrance into the world of new gaming practices. Newly released games on GNation might be tested among millions of gamers. More essentially, GNation’s customers may participate in esports event tournaments for real money in the future.  Part of their income can be sent to charity funds and for supporting rising game creators. Highlights of GNation partnerships with Microsoft & Xsolla: GNation’s team says that the concluded partnership will bring their services to an audience of 2.4 billion gamers; Xsolla allows gamers f...

India’s regulatory uncertainty on cryptocurrencies has taken a toll on Bengaluru based exchange Unocoin forcing it to lay off employees.  According to The Economic Times, the bitcoin exchange has laid off over a dozen employees and now only has 14 employees remaining.  The changes are drastic considering that last year in February Unocoin which is in its sixth year of existence boasted of over 100 employees.  Per Unocoin’s CEO, Sathvik Vishwanath, the cryptocurrency exchange  the best funded in the country only has cash reserves to last it just a few months. Unocoin had previously attempted to raise funding but this did not materialize.  RESERVE BANK OF INDIA QUICK TO BAN, SUPREME COURT SLOW TO DECIDE The future of the bitcoin exchange also rests heavily on the kind of ruling India’s Supreme Court will make regarding the banking restrictions imposed by the country’s central bank on cryptocurrency businesses, according to Vishwanath: We did ask people...

Bithumb, one of South Korea’s leading and more controversial crypto-exchanges, has been in the news for quite a while now. Just a few weeks ago, the exchange was hacked, contributing to the loss of millions in XRP and EOS. Almost two weeks after the exchange asked users to stop withdrawals and deposits, Bithumb today announced the partial resumption of the services.  Following the hack, which the exchange claimed was an inside job, Bithumb had asked its users to stop making cryptocurrency deposits while an investigation by KISA and several cyber security agencies was still underway.  The full statement read, “We would like to ask you to stop making deposits of cryptocurrency in order to check our member’s assets through external organization and to cooperate with the investigating agency in connect with an accident that is supposed to be an internal embezzlement that occurred on March 29th. ” The suspension of these services was deemed “necessary” by the exchange, while...

Bitcoin Price Analysis  Fundamentals  Price leads sentiment and right now, Bitcoin is on an uptrend. After 15 months when prices slid from $20,000 to lows of $3,200, there is relief that the market is bottoming up at last.  Because of this optimism and newfound momentum, there are all sorts of analysts that are confident that the world’s most valuable coin will hit six or even seven digit valuation in the next few years. Arthur Hayes, the founder of BitMex, one of the few exchanges allowing margin trading as well as futures trading of Bitcoin prices, is unwavering. After last year’s projection didn’t come to pass, he still maintains a $50k price tag. In the Venture Coinsight podcast with Luke Martin, the Hayes said Bitcoin prices could “materially go higher if the world plays out the way I think it’s gonna play out.”  If that is the case, then the coin is undervalued, and the next parabolic wave would, therefore, lift the asset valuation by 10x of what it prese...