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Did you know the freshly roasted coffee weighing 1 lb in Alabama costs just $12 at a farmer’s mart? Litecoin adoption keeps rising with the passage of time even though development has slowed down. Litecoin is in oversold territory for now, as the daily RSI [for 10 periods] is at 25.66.  The Awesome Oscillator peaks are quite large underneath the zero line and they’re brown in shade. For the last three days, the histogram has been red and the MACD line has remained beneath the signal line.  Key barriers will act if the altcoin somehow manages to soar beyond $78. Support can be found close to the $62.577 mark. Litecoin was popularised as the kid brother of Bitcoin.  Their protocols are quite similar [BTC employs thee SHA-256 algorithm, while Litecoin utilizes Scrypt in order to have better decentralization]; while Satoshi Nakamoto remains anonymous, Charlie Lee had never planned on withholding his identity prior to launching Litecoin in 2011.  Lee sold all his LTC coins

Ripple price is trading in a bearish zone and recently broke the $0.2500 support against the US dollar. Bitcoin price is down around 5% and Ethereum price declined close to 10%.  There is a key bearish trend line forming with resistance near $0.2610 on the hourly chart of the XRP/USD pair (data source from Kraken).  It seems like yesterday’s discussed bearish scenario is active and the price could soon test $0.2400. Ripple price is under a lot of pressure below $0.2650 against the US Dollar, similar to bitcoin. XRP price is likely to extend its decline below $0.2450 and $0.2420.  Ripple Price Analysis Yesterday, we discussed possible scenarios and bigger picture for ripple against the US Dollar.  XRP price failed to climb above the main $0.2750 and $0.2800 resistance levels.  Moreover, it settled below the $0.2750 level and the 100 hourly simple moving average.  As a result, the bears took control and pushed the price further lower below the $0.2650 and $0.2600 support.  The

The Australian man who claimed to have invented cryptocurrency bitcoin has been ordered to hand over half of his alleged bitcoin holdings, reported to be worth up to $5bn.  The IT security consultant Craig Wright, 49, was sued by the estate of David Kleiman, a programmer who died in 2013, for a share of Wright’s bitcoin haul over the pair’s involvement in the inception of the cryptocurrency from 2009 to 2013.  Kleiman’s estate alleges Wright and Kleiman were partners, and therefore his family is entitled to a share of the bitcoin that was mined by the pair in that time. Wright denies there was a partnership.  A US district court in Florida on Tuesday ruled that half of the bitcoin mined and half of the intellectual property held by Wright from that time belongs to Kleiman. One issue is it is not known exactly how much bitcoin Wright holds.  It has been claimed that the Kleiman estate could get anywhere between 410,000 and 500,000 bitcoin, putting the value at between A$6.1b

ETH price failed to climb above the $195 resistance and declined recently against the US Dollar.  The price is now trading below the $190 level and it seems like there could be more downsides. There is a short term breakout pattern forming with support near $186 on the hourly chart of ETH/USD (data feed via Kraken). The pair is likely to continue lower below the $185 support and it may even break $180.  Ethereum price is back in a bearish zone below $190 versus the US Dollar, similar to bitcoin.  ETH price is likely to continue lower as long as it is below $195.  Ethereum Price Analysis Yesterday, we saw an upside correction in ETH and bitcoin above $192 and $10,200 respectively against the US Dollar.  However, Ether struggled to gain momentum above the key $195 resistance level. As a result, there was a fresh bearish wave below the $192 and $190 support levels.  Moreover, the price even settled below the $192 level and the 100 hourly simple moving average. Ethereum price al

In case you missed it, a new self-proclaimed Satoshi Nakamoto came out of the woodwork last week, this one brandishing a “proof” based on numerology and an obsession with BCCI, the scandal-ridden bank that collapsed in 1991.  The widely debunked “reveal” from Bilal Khalid, aka James Caan – Khalid officially changed his name to that of the American actor  followed a host of equally absurd developments in a Florida court case against the other “Faketoshi,” Craig S. Wright.  These included a hand-written note to the judge in which yet another person, one Debo Jurgen Etienne Guido, also laid claim to being bitcoin’s secret progenitor. Sensible minds in the crypto community remind us that this is all a sideshow, that these competing claims to bitcoin’s creation ultimately mean nothing to its value proposition.  Still, it begs the question: why does it keep happening? Why do the scammers emerge so readily? What is about the crypto community that attracts a parade of false prophets?

Many litecoin (LTC) miners working to secure the blockchain and compete for block rewards have been unplugging their machinery following the cryptocurrency’s recent “halving” event, network data shows.  Litecoin’s mining difficulty  a coded-in measure of how hard it is to solve the mathematical puzzles used to write blocks on the network  has dropped from 15.93 million on Aug. 4, one day before the halving, to 11.40 million on Aug.  22, based on data from mining pool BTC.com. The hashing power on the network has also fallen by 28 percent.  Litecoin’s mining difficulty is designed to automatically adjust every 2,016 blocks, approximately every 4 days, to ensure the block-producing interval remains about 2.5 minutes based on the average hashing power in the current cycle.  The 28 percent difficulty drop means the current level is the lowest since April 29.  BTC.com’s data estimates that difficulty will continue to decline by another four percent at the next adjustment date, whic

Two main factors for Ripple’s success was credited to xRapid and the MoneyGram partnership. Ripple’s developer behavior metric received a 7.1% spike following its partnership with MoneyGram.  TheStreet and Flipside Crypto have published a new analysis on XRP.  It highlighted Ripple's xRapid and the integration with MoneyGram as two critical factors behind the "A" rating for the digital asset.  The four factors that the piece judges XRP include developer behavior, market maturity, user activity and Flipside’s fundamental crypto-asset score.  It said: “Ripple is a growing force across the global financial landscape, establishing inroads to institutional finance while cultivating products in the cryptosphere The company is offering conservative institutional clients an on-ramp to the Ripple platform through xCurrent, while also evolving xRapid to offer refuge from the complexities of using foreign-exchange markets to settle transfers.  That’s effectively deliveri

The crypto market is highly volatile and assets such as Bitcoin, Ethereum, and EOS experience wild price swings.  On cryptocurrency margin trading exchanges, these wild price swings are further amplified by traders trading on up to 100x leverage.  Last night on one crypto margin trading platform, some strange behavior occurred that caused flash crashes and flash pumps across a variety of the crypto assets available for trading on the platform. Flash Crashes and Pumps Galore at BitMax Overnight, BitMax traders were able to load up on Ethereum at a low of 33 cents.  EOS, spiked to over $100, and some lucky crypto investors were able to scoop up Bitcoin at a $1 per BTC on the USDC trading pair.  Litecoin was yet another asset impacted. While these lucky users felt like they had hit the crypto version of a jackpot, traders on the other side of the trade had sold a $10,000 asset at just a buck.  Many members of the greater community that learned of the news were quick to point o

Bitcoin's dominance, a measure of bitcoin's value compared to the wider cryptocurrency market, is hovering around 70% after climbing this year, according to CoinMarkCap and most traditional measures a level not seen since April 2017.  The bitcoin price has been treading water over recent months after surging higher earlier this year as many bitcoin rivals, including ethereum, litecoin and Ripple's XRP, struggled to make similar gains. However, the market may be even more weighted towards bitcoin than previously thought with shock research suggesting bitcoin's real dominance may be above 90%. Researchers found that if bitcoin's dominance is adjusted for liquidity by calculating the volume-weighted market capitalization it soars to over 90%, reducing the rest of the cryptocurrecy market, including major tokens ethereum, Ripple's XRP and litecoin, to a combined less than 10%.  "Every day bitcoin stays ahead, it becomes less likely that any other crypto

Professional services firm Grant Thornton claims that it is progressing in securing and preserving the cryptocurrencies of hacked cryptocurrency exchange Cryptopia.  In a press release published on Aug. 21, Cryptopia’s liquidator claims to “have made good progress towards securing and preserving Cryptopia crypto-asset holdings for the benefit of those entitled to them.”  Per the release, there are two reasons why determining the holdings of the exchange’s clients is taking so long.  The firm explains that customers did not have individual wallets and their funds were pooled together, as the exchange kept details of customer holdings in its database.  As a consequence of this design, it is purportedly impossible to determine individual ownership using only wallet keys.  Furthermore, according to Grant Thornton, no detailed reconciliation process between the customer holdings database and the crypto assets held in the wallets has ever been completed, which the company hopes wou

Ripple price is facing a strong resistance near the $0.2900 and $0.2920 levels against the US dollar. Bitcoin price rallied recently and even broke the $10,600 and $10,800 resistance levels.  Yesterday’s highlighted bullish trend line is active with support near $0.2750 on the hourly chart of the XRP/USD pair (data source from Kraken).  The pair could decline a few points, but it remains supported above $0.2700. Ripple price is currently correcting gains from $0.2920 against the US Dollar, while bitcoin jumped above $10,800. XRP price is likely to climb sharply if it clears the $0.2920 resistance.  Ripple Price Analysis Yesterday, we saw a decent recovery in XRP price above the $0.2700 resistance against the US Dollar.  The XRP/USD pair even climbed above the $0.2800 resistance and settled above the 100 hourly simple moving average.  It opened the doors for more gains above the $0.2850 level. More importantly, there were decent gains in other altcoins, including Ethereum

Litecoin has been wrapped in negative sentiment as of late, which has primarily been rooted it its lackluster price action following its recent halving event and a recent dusting attack that impacted nearly 300,000 LTC addresses on Binance.  Despite the dwindling optimism surrounding LTC, analysts are now cautiously noting that the cryptocurrency may be nearing a “bedrock support” level that could be followed by a shift in its recent downtrend, and today’s price performance may support this notion.  Litecoin Price Plummets 25% Since Halving Event At the time of writing, Litecoin is trading up nearly 4% at its current price of $76.40, which marks a slight recovery from its recent lows of $71.  Since Litecoin’s early-August halving event  which was widely viewed as being a bullish catalyst  the cryptocurrency’s price has dropped by nearly 25%, which marks a very disappointing reaction to an event that many analysts had claimed would propel LTC higher. Importantly, however, this

Investors in the cryptocurrency market consider bitcoin as a benchmark. The world’s leading decentralized asset by market capitalization visibly determines the state of the overall crypto economy.  Its price movement prompts other 1,599 active assets  called alternative cryptocurrencies (or altcoins)  to pursue in the same or an extremely opposite direction, showing extreme dependability. But according to Chris Burniske, who is partners with New York-based venture capitalist firm Placeholder, one cryptocurrency could divorce the bitcoin’s influence in a longer run.  “Ethereum,” Burniske said, “is currently the only asset with an independent and large enough community to break off from Bitcoin setting the pace.“  He added that the change would not come overnight.  Recognizing that bitcoin will remain a unit of analysis and liquidity provider in the space, Burniske said altcoins like Ethereum would detach depending upon their integration into broader, global macro adoption and