EOS, Tron [TRX] cumulatively contribute 82% of all cryptocurrency transactions

Despite a bearish and sideways market, cryptocurrency transactions seem to be on the verge of reaching the previous all-time high. As per the data obtained from Blockchain center, the total on-chain transactions for all cryptocurrencies exceeded 522.119 million and the total number of active users for these transactions add up to 1.357 million.
Source: Blockchain Center
EOS has the most number of transactions as compared to any other cryptocurrencies, even exceeding that of Ethereum [ETH] and Tron [TRX]. The total transactions of EOS as of today is approximately 350.30 million. These transactions are coming from a total of 41,457 active addresses.
The transactions on EOS network peaked at 468.08 million in the second week of August 2018 and has since declined to 350 million. When compared to the big picture, EOS’ transactions are coming from a mere ~3% of the total active users.
Source: Blockchain Center
Tron follows EOS and has ~78.543 million transactions, which is the highest number of on-chain transactions that Tron blockchain has ever witnessed. As compared to EOS, the total number of active addresses for Tron are almost halved, i.e, 21,211.
Source: Blockchain Center
 
Bitcoin’s total transactions in the year 2018 peaked at 24.25 million in the second week of January 2018 and are currently hovering at 17.08 million, but Bitcoin’s total active addresses far exceed that of EOS’ or Tron’s, coming up to 681,779.
Source: Blockchain Center
Ethereum has a total of 33.27 million transactions as of November 11, which is contributed by a total of 247,671 active addresses. Ethereum’s on-chain transactions peaked at 71.48 million in the second week of January 2018 and have since declined.
Source: Blockchain Center
XRP’s transactions have come down to 17.99 million transactions, which are one-quarter of XRP’s peak number of transactions i.e., 72.05 million. The total active addresses as of today add up to 6,924.
Source: Blockchain Center
In conclusion, Tron and EOS together have about 4.5% of the total number of active addresses, while still contributing 82% of all the cryptocurrency transactions.
Bitcoin and Ethereum together contribute a mere ~9.5% of the total transactions but have a cumulative active address contribution of ~68%. EOS contributes up to 67% of the total number of transactions on the blockchain while Tron contributes to 15% of the total transactions. To sum it all up, EOS and TRX control 82% of all the transactions which come from only 4.5% active addresses.
A Reddit user tsMQ commented:
“If only 3% of active addresses is making that many transactions imagine when we hit 10% maybe 15% we will be blowing them out of the water for transactions per 24 hours and usage per user which is what we want, users using their coins/resources not just bag holding and watching the price drop.”
The post EOS, Tron [TRX] cumulatively contribute 82% of all cryptocurrency transactions appeared first on AMBCrypto.
Source: AMB Crypto

Sorry Bitcoin, but Ripple’s XRP Сan Become Number 1 by Market Capitalization

CoinSpeaker

Sorry Bitcoin, but Ripple’s XRP Сan Become Number 1 by Market Capitalization

After last week’s sell-off the bitcoin price found support at around $5,500 but that has now eroded, with bitcoin falling some 3% over the last 24 hours to under $5,340—its lowest price since October last year. Is it a turn for XRP to become the first now?

Sorry Bitcoin, but Ripple’s XRP Сan Become Number 1 by Market Capitalization

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Source: CoinSpeaker

Tron Surpasses Ethereum for dApp Transaction Volume, Launches Program for Developers

Ethereum has had a tough week. Not only has it been pushed down the market cap charts by XRP, now Tron has surpassed it in terms of network decentralized application volume.
dApp Volume on Tron Higher Than Ethereum
According to analytics website dapp.review the Tron Network is now above Ethereum in dApp transaction volume:

No.1 DApp on ETHIDEX – 2430 ETH txn volume in last 24 hours
While on #TRON@TRONbet has over 422 MILLION #TRX txn volume
DappReview is the first DApp platform supporting #TRON DApps. Check and play TRON Dapps at https://t.co/wfUfRx2xoq@justinsuntron @Tronfoundation pic.twitter.com/IDedGpiMc3
— DappReview (@dapp_review) November 17, 2018

TRONbet is the platform’s leading dApp at the moment with a 24 hour transaction count of over 543,000 equating to a volume of 181 million TRX. TRONdice has over 18,000 daily transactions with a volume around 744 million TRX at the time of writing. These are the only real two dApps driving traffic though, the rest are pretty inactive. Comparatively Ethereum’s top dApp, IDEX, has only 7,400 daily transactions with a volume of just over 2,090 ETH.
Accelerator Program for Developers Launched
To keep this network momentum up and encourage further growth Tron has launched an accelerator program for dApp developers. The million dollar initiative is ‘aiming to empower developers and foster innovation within the blockchain industry,’ according to the official website.
The site goes on to explain that the accelerator program is effectively an online competition which will be;
“rewarding up to 56 winning DApp projects across multiple categories. Unlike some of the previous programming contests that rewarded multiple developers, TRON Accelerator does not features loan or equity model. Winning teams and developers will keep ownership of their products after they get rewarded.”
Registration and submissions will be accepted up until the end of the year with the winners announced in January. Tron is also hosting its first international summit in San Francisco in January called niTROn. Running on the 17th to 18th the event will be hosting a wide selection of speaker panels, technical workshops, and networking events, though no specifics have been posted on the website yet.
The Tron Network has been aggressively expanding despite the bear market this year. Following its acquisition of peer-to-peer network, Bittorrent, Tron went on to acquire payment app, Poppy. Last month discussions with Chinese internet giant Baidu resulted in collaboration on cloud computing services between the two.
TRX did not escape the crypto rout last week however, falling 18% over the past seven days. Market cap has declined to $1.2 billion but it has managed to hold on to eleventh spot on the crypto charts. At the time of writing TRX was trading down 6% on the day to just below $0.018.
 
Image from Shutterstock
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Source: New feedNewsBTC.com

Crypto Exchange Binance can Make Ripple’s XRP Its Base Currency

CoinSpeaker

Crypto Exchange Binance can Make Ripple’s XRP Its Base Currency

Binance CEO Changpeng “CZ” Zhao took to Twitter on Sunday to send out a message to the XRP community regarding their constant talking of XRP as a base currency for the leading crypto exchange.

Crypto Exchange Binance can Make Ripple’s XRP Its Base Currency

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Source: CoinSpeaker

Ethereum [ETH] Technical Analysis: The cryptocurrency is still pining for a bull run

The volatility in the crypto market has begun as most of the coins are thriving to gain momentum in the past 24-hours. The downfall of Ethereum [ETH] seems to continue for a longer period. The market capitalization gained by XRP appears to be a great barrier for ETH to gain its 2nd position back on the charts.
At the time of writing, Ethereum [ETH] is trading at $175.55 with a market cap of $18.13 billion. The 7-days statistics of ETH still shows a red signal with a 16.68% decline. The 1-day chart depicts an insignificant growth of 1.15%. The coin is being traded on various exchanges such as LBank, BitForex, Huobi etc., with the highest volume of 4.84% from OEX on ETH/BTC trading pairs.
1 hour:
ETH 1 hour chart | Source: TradingView
The 1-hour chart of ETH shows a downtrend extending from $210 to $178 and the resistance points fixed at $210.28 and $200.63. The uptrend in this time frame is from $172 – $174 – $176 with a recent support point set at $172.
The Bollinger Band is forming a narrow path indicating less volatility in the ETH market. It is also being noticed that a similar trend was followed by Bollinger Band on 14th November, which led to a negative price breakout.
The Awesome Oscillator has gradually started to form the green lines on the histogram. The indicator is trying to recover from the previous bear trend.
The Chaikin Money Flow depicts that there is less inflow of money in the ETH market as the indicator continues its journey below the zero line.
24 hours:
ETH 1 day chart | Source: TradingView
The 24 hours chart of ETH shows a downtrend ranging between $519 – $214 – $177 with a resistance set at $285. The support formed at $188 has been broken and the price continues its downward correction.
The MACD shows a bearish crossover with the moving average lines traveling below the signal line. The histogram is also forming negative bars depicting the beginning of a bearish trend.
In the Aroon indicator, the Aroon Up line has taken a bearish crossover and moving towards the 0 line showing that the bullish trend is exhausting. The Aroon Down line has touched the maximum point and is currently moving in the opposite direction.
The Relative Strength Indicator [RSI] has crossed the oversold line and moving back to the RSI region. According to the chart, it can be noticed that buying pressure has been overtaken by selling pressure in this timeframe.
Conclusion:
Considering the previous market trends of ETH and the signs of the indicators in the above-mentioned timeframes, there is a high chance of a persistent bearish zone.
The post Ethereum [ETH] Technical Analysis: The cryptocurrency is still pining for a bull run appeared first on AMBCrypto.
Source: AMB Crypto

Bitcoin [BTC] has served its place in the market says Stellar’s first Head of Growth

Recently, Tammy Camp, the co-founder of Stronghold and the first Head of Growth at Stellar gave her opinion on cryptocurrencies and compared Bitcoin [BTC] to Friendster, a social media website; Ethereum [ETH] to MySpace and Stellar to Facebook.
Tammy Camp, in the interview with Breaker, she compared Bitcoin to Friendster because it was the first of its kind in the space as it got everybody’s attention. She further added that the transaction time for Bitcoin is very slow as compared to Ethereum or Stellar. She continued:
“Bitcoin does not crash and it is very stable, but the downside is you can only do three transactions per second and then it takes up to an hour for it to confirm. Bitcoin has served its place in the market. And it’s not that it’s a bad solution; it’s just not scalable for payments.”
She continued to talk about her analogy and then compared Ethereum to MySpace as Ethereum is very popular among developers and is faster than Bitcoin in terms of transactions. Since Ethereum paved ways for smart-contracts, there have been many more blockchains built on top of Ethereum’s using these contracts.
To conclude her analogy she compared Stellar to Facebook and weighed in by stating:
“Stellar is actually more scalable and secure than any product. And you can do 3,000 transactions per second, and 300,000 transactions with fees costing less than one penny. And the confirmation times are three to five seconds, so you can actually use it at Point of Sale [PoS].”
Tammy Camp, got into cryptocurrencies while graduating from Singularity University, and started building mining rigs for a short duration of time. She later went on to become the first Head of Growth at Stellar.org.
She also co-founded the Stronghold, a digital asset exchange network/platform that represents Bitcoin, Ethereum and Stellar Lumens on the Stellar Network. A stablecoin called Stronghold USD was developed in partnership with IBM blockchain.
The post Bitcoin [BTC] has served its place in the market says Stellar’s first Head of Growth appeared first on AMBCrypto.
Source: AMB Crypto

How Low Can It Go? Bitcoin Settles Below $5,600 as Altcoins Continue to Drop

Following yesterday’s widespread and significant drop across the entire cryptocurrency markets, Bitcoin has settled below $5,600, the lowest price it has seen this year, and many altcoins have continued dropping.
At the time of writing, Bitcoin is trading down over 8% at its current price of $5,560, recovering slightly from its low point of $5,350, which as of now is BTC’s lowest price of the year. Bitcoin’s massive drop over the past couple of days has caused its market cap to fall below $100 billion to its current levels of nearly $97 million.
Following the drop, trading volume has continued rising, likely signaling that further volatility could be on the way. Prior to dropping yesterday, Bitcoin’s trading volume was stable around $4.4 billion, but it has since nearly doubled to its current levels of approximately $8.7 billion.
Altcoins Continue Falling
Bitcoin’s drop has led to significant declines amongst the altcoin markets, with many coins trading down nearly 20% yesterday.
At the time of writing, XRP is one of today’s best performing altcoins, currently trading up nearly 1% over a 24-hour trading period, with its current price showing relative stability at nearly $0.47.
The recent drop has led XRP to lows of $0.43, from which it has recovered. XRP’s good performance despite the drop has allowed it to claim the coveted number two spot in the crypto markets from Ethereum (ETH), which is currently behind XRP’s market cap by approximately $300 million.
Bitcoin Cash (BCH), is currently trading down over 5% at its current price of $430 despite today’s hard fork event. Clearly, investors are not that interested in the units resulting from this hard fork, as its price has been crashing ever since it reached highs of $635 in early-November.
Donald Bullers, the North American representative for Elastos, a blockchain-based security service, explained that BCH’s hard fork event may be partially to blame for the crypto markets poor performance, saying to MarketWatch that:
“Price volatility is not unusual in the crypto landscape—however, [Wednesday’s] dip is significant enough to prompt industry players to stop and take stock of the reasons why. It’s safe to say that Bitcoin Cash’s upcoming hard fork was stirring uncertainty amongst crypto investors, and forecasters across crypto and traditional markets alike have predicted a prolonged bear market heading into 2019.”
Brian Kelly, cryptocurrency enthusiast and analyst, expressed a similar sentiment while speaking on CNBC’s Fast Money, saying:
“When you do a software upgrade, everybody usually agrees. But in this particular case, everybody is not agreeing. So, we’ve got ourselves a crypto civil war.”
Kelly further added that downward spirals tend to perpetuate themselves.
“People started selling. That triggered stops. Everybody got concerned. And that’s what happened today — the entire market sell-down,” he said.
It is likely that the recent market carnage has significantly hampered the chances of an end-of-year rally, and the persisting bear market may continue well into 2019.
Related Reading: Tumultuous Crypto Market: Bitcoin Market Cap Finds YTD Low Under $100 Billion
Featured image from Shutterstock.
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OKCoin Launches in Latin America with Fiat-to-Crypto Trading for the Argentine Peso

CoinSpeaker

OKCoin Launches in Latin America with Fiat-to-Crypto Trading for the Argentine Peso

Licensed exchange now offers Argentine peso funding to trade with several major cryptocurrencies, other Latin American fiat currencies coming soon.

OKCoin Launches in Latin America with Fiat-to-Crypto Trading for the Argentine Peso

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Source: CoinSpeaker

Ethereum Price Analysis (ETH/BTC): Ethereum Price Dips and Rips Vs Bitcoin

Ethereum price declined heavily to new lows below 0.0300 BTC and later recovered against bitcoin. ETH/BTC must move above 0.0324BTC to rebound further.
Important Points:

Ethereum price fell sharply below the 0.0320BTC and 0.0300BTC support levels.
ETH/BTC declined below a major triangle support at 0.0322BTC on the 4-hours chart.
ETH price traded below the 0.0300BTC support level and later recovered sharply.

Ethereum Price Analysis (ETH/BTC)
There were more bearish moves in Ethereum price below 0.0320BTC versus bitcoin and below $200.00 against the US Dollar. Sellers managed to push ETH to BTC below the 0.0300BTC support as well, but the price later jumped back sharply.
The 4-hours chart of ETH/BTC indicates that the price formed a major top near the 0.0340BTC level and later nosedived below 50 simple moving average (4-hours). The crypto market as a whole was under a lot of pressure after bitcoin price declined below $6k support.
Chart Source by TradingView
During the decline, ETH/BTC traded below many support levels, including 0.0328BTC and 0.0318BTC. Moreover, there was a break below a major triangle support at 0.0322BTC, which resulted in a drop below the key 0.0308BTC support.
A new monthly low was formed at 0.0297BTC and later the price recovered above the 23.6% Fib retracement level of the recent decline from the 0.0340BTC high to 0.0297BTC.
However, the current rebound is facing resistance near the 0.0320BTC level. It also coincides with the previous support, the broken triangle, and the 50% Fib retracement level of the recent decline from the 0.0340BTC high to 0.0297BTC.
In order to recover further, the price must move above the 0.0320BTC resistance and the 50 simple moving average (4-hours). If buyers fail to push the price above the 0.0320BTC resistance, Ethereum could decline once again towards the 0.0300BTC level.
Overall, the current market sentiment is super bearish for bitcoin and Ethereum, but there are chances of an upward move above 0.0320BTC resistance in ETH/BTC. The next major resistance above the 0.0320BTC level is close to the 0.0340BTC level where sellers are likely to emerge.
The post Ethereum Price Analysis (ETH/BTC): Ethereum Price Dips and Rips Vs Bitcoin appeared first on Coingape.
Source: CoinGape

Ethereum Price Analysis: Ethereum Drops Amidst Market Plummet But Finds Support Around $180

Like the majority of cryptomarkets, Ethereum has plunged by a total of 12.9% over the past 24 hours of trading against the USD. The market is now trading at a price around $186 at the time of writing, bringing the total 7. day trading decline for Ethereum down to -16.93%.

The cryptocurrency wipeout has caused Ethereum to break back below $200 once again.
The market has recently found support at the $180 handle.
Support moving forward; $180, $169.55, $160, $155, $150, $146.
Resistance moving forward; $188, $187, $200, $202, $212, $222, $234, $255, $271, $278, $290, $300.

Ethereum remains in 2nd position in terms of overall market cap value rankings with a total market cap of $18.69 billion. The 39-month-old coin has seen a rough 90 day trading period as the markets drop -36.99%.
Let us continue to analyze price action from the medium term and highlight any potential support and resistance moving forward.
Ethereum Price Analysis
ETH/USD – MEDIUM TERM – DAILY CHART
Chart Source: Tradingview
Analyzing price action from the medium termed perspective above we can see that the significant price drop experienced today caused price action to break below the short term triangle which was forming within the market for the past 10 weeks or so.
After price action broke below the triangle the market continued to plummet further lower breaking below the $200 handle and eventually the $180 handle, briefly. At the time of writing the market has recovered slightly as Ethereum continues to hold well against Bitcoin causing ETH/USD to not drop further lower.
We can see that the market is now currently trading just below support provided by the .786 Fibonacci Retracement level (drawn in blue) priced at $188.73. This Fibonacci Retracement is measured from the previous bullish swing leg when price action began at a low of $167.32 on the 12th of September 2018 and continued to rally to a high of $255 on the 22nd of September 2018. This was a total price increase amounting to 50% from low to high.
Moving forward, if the bulls can regroup and push price action above the $188.73 handle we can expect immediate resistance above to then to be located at the .618 and .5 Fibonacci Retracement levels (drawn in blue) priced at $202.69 and $212.50 respectively. If the bullish momentum continues even further higher, more resistance above can then be located at the .382 and .236 Fibonacci Retracement levels (drawn in blue) priced at $222 and $234 respectively.
Alternatively, in our bearish scenario, if Bitcoin continues to fall hard and Ethereum cannot hold its value against Bitcoin we can expect this market to head further lower. In this case, we can expect immediate support below to be located at the .886 Fibonacci Retracement level (drawn in blue) priced at $180. This area of support is bolstered by a long term downside 1.414 Fibonacci Extension level (drawn in green) adding to the expected strength in this area.
If the sellers continue below the $180 handle we can look for further support beneath to be expected at the short term 1.272 and 1.414 Fibonacci Extension levels (drawn in lilac) priced at $169 and $160 respectively followed by the 1.618 Fibonacci Extension level (drawn in lilac) priced at $146.35.
The post Ethereum Price Analysis: Ethereum Drops Amidst Market Plummet But Finds Support Around $180 appeared first on Coingape.
Source: CoinGape

Bitcoin [BTC] can become a major global currency in the future, says Atlantic Financial CEO Bruce Fenton

Bruce Fenton, the CEO of Atlantic Financial, a cypherpunk, and a member of Bitcoin Foundation, spoke about his entry into the cryptocurrency and blockchain ecosystem in a recent interview with Naomi Brockwell.
He explained that the most exciting technology to emerge out of the blockchain technology was Bitcoin, and said that it has the potential to disrupt global money. He further stated:
“Bitcoin, as a currency, has the potential to disrupt global money and become a new major form of money maybe even some sort of global reserve currency. I think that really has very far-reaching impacts. I’m excited about other applications, like from Wall Street, you know tokenization of securities and that kind of thing is pretty interesting as well”
He continued saying that he has invested a lot of his time in Bitcoin and added that Bitcoin or “Bitcoin-like” technology has the power to become a global currency. However, he advised caution as it was still too early to determine what the future would look like.
Fenton said that Bitcoin is probably his most favorite implementation of the blockchain technology, but added that he is fascinated by a lot of projects, which are very risky as well. The crypto enthusiast said:
“In the case of Bitcoin, you could lose everything that you put in, and all of these projects could go down to zero they are very risky so I’m always very cautious about any of these projects.”
The CEO also spoke about other projects that he is interested in, including Ethereum, Ethereum Classic, and Ravencoin. He shared his interest in Monero and MimbleWimble, saying that he was intrigued by the privacy aspects that cryptocurrencies have to offer. Fenton said that he is very active with Ravencoin because of its use-case i.e., tokenization. He commented:
“I co-authored one of the Whitepapers; I have been involved in it and working with community…I think…it’s a very cypherpunk type of project, and it has those aligns incentives as there was no pre-mine or founders shares or developers shares or ICO—- or fundraising of any type.”
Fenton said that he was always interested in free-market economics and emerging technologies due to his job at Wall Street. He added that the merging of technology and economics attracted him to the cryptocurrency community. Fenton explained that in 2012, even though he was in Wall Street, nobody was interested in cryptocurrency until he met Barry Silbert.
 
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Source: AMB Crypto

Ethereum Price Analysis: ETH/USD Extends Losses, $200 Holds Key

Key Highlights

ETH price declined further and broke the important $206 support against the US Dollar.
This week’s followed key bearish trend line is still in place with resistance at $208 on the hourly chart of ETH/USD (data feed via Kraken).
The pair is under pressure below $208 and $206, which could result in more losses in the near term.

Ethereum price extended losses against the US Dollar and bitcoin. ETH/USD could continue to move down towards the $200 or $198 support level.
Ethereum Price Analysis
During the past three sessions, there were bearish moves in ETH price below the $210 resistance against the US Dollar. The ETH/USD pair failed to recover and broke the important $206 support to move into a bearish zone. Sellers took control and pushed the price below the $204 level. The price traded as low as $202 and it is currently well below the 100 hourly simple moving average.
At the moment, the price is consolidating losses above $202. An initial resistance is the 23.6% Fib retracement level of the recent slide from the $210 high to $202 low. However, the most important resistance is near the $206 level, which was a support earlier. More importantly, this week’s followed key bearish trend line is still in place with resistance at $208 on the hourly chart of ETH/USD. Below the trend line, the 50% Fib retracement level of the recent slide from the $210 high to $202 low is positioned at $206.50. Therefore, if the price corrects higher, it is likely to face a solid selling interest near the $206-208 resistance zone.

Looking at the chart, ETH price is under pressure below $206. If there is a downside break below $22, the price may even test the $200 handle. The next support below $200 is near the $198 level.
Hourly MACD – The MACD could move into the bullish zone in the short term.
Hourly RSI – The RSI is currently well below the 50 level.
Major Support Level – $200
Major Resistance Level – $208
The post Ethereum Price Analysis: ETH/USD Extends Losses, $200 Holds Key appeared first on NewsBTC.
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Ethereum Co-Founder: Blockchain Will Create More Wealth and Radically Change the Society

CoinSpeaker

Ethereum Co-Founder: Blockchain Will Create More Wealth and Radically Change the Society

Ethereum co-founder and ConsenSys CEO Joe Lubin said that blockchain technology is able to change the mindset of the society.

Ethereum Co-Founder: Blockchain Will Create More Wealth and Radically Change the Society

Continue reading at Coinspeaker
Source: CoinSpeaker

Ethereum Price Analysis: Close Below $206 Could Be Destructive for ETH/USD

Key Highlights

ETH price is facing a tough resistance near the $209.00 and $210.00 levels against the US Dollar.
Yesterday’s highlighted major bearish trend line is intact with resistance at $209 on the hourly chart of ETH/USD (data feed via Kraken).
The pair could accelerate declines if there is a close below the $206 support.

Ethereum price is trading near key supports against the US Dollar and bitcoin. ETH/USD needs to climb above $209 and $210 to avoid a downside break.
Ethereum Price Analysis
Yesterday, we discussed an important support area near $206 in ETH price against the US Dollar. The ETH/USD pair recently recovered above $208 and $209, but it faced a major hurdle near the $210 level. As a result, there was a fresh decline below $209 and the 100 hourly simple moving average. The price spiked below the $206 support once again and formed a low at $205. Later, it climbed back above $206 and it is currently consolidating near $207.
An initial resistance is near $208 and the 50% Fib retracement level of the recent drop from the $211 swing high to $205 swing low. Above $208, the price could retest the $210 resistance. Moreover, yesterday’s highlighted major bearish trend line is intact with resistance at $209 on the hourly chart of ETH/USD. The trend line coincides with the 76.4% Fib retracement level of the recent drop from the $211 swing high to $205 swing low. Therefore, a proper close above the trend line and $210 may start a decent recovery. If there is no upside break above $210, the price could decline sharply below $206 and $205.

Looking at the chart, ETH price is clearly struggling to recover above $210. If it continues to struggle, sellers might eventually take control for a downside extension below $206.
Hourly MACD – The MACD is placed heavily in the bearish zone.
Hourly RSI – The RSI is currently well above the 40 level.
Major Support Level – $206
Major Resistance Level – $210
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Source: New feedNewsBTC.com

Monero [XMR] will be ‘cracked down’ by Feds soon, says Nouriel Roubini

Nouriel Roubini, popularly known as Dr. Doom in the crypto-space, recently tweeted stating that cryptocurrencies do not provide anonymity and it is only a matter of time before the Federal Bureau of Investigation “cracks down” on the privacy coin Monero [XMR].
The statement was made in response to an article, which mainly concentrates on a statement made by Peter Szilagyi, a core developer of Ethereum. Szilagyi, in an interview, had stressed about the information that is exposed through the blockchain technology, sometimes in “complex and unpredictable” ways.
Commenting on an article on Coin Desk about how Ethereum reveals user location, Roubini tweeted:
“So much for privacy, anonymity & censorship resistance: there is NO anonymity in crypto. Law enforcement authorities prefer transactions on crypto because it is easier to trace transactions & who is behind them than in banks. Wake up crypto zealots. & Feds will crack Monero too”.
This is not the first time Roubini has showed his dissent towards Ethereum and the Foundation members. The war started when Roubini equated Bitcoin to North Korea and Vitalik Buterin as the dictator. The joust has been going on ever since, with Roubini standing against the very concept of cryptocurrencies.
Nonetheless, this statement, like all his other statements, has riled up the whole community. Some of the members stated that this was the best part about blockchain and cryptocurrency and that this could be used to eradicate corruption.
A user, DogKick commented:
“Exactly why crypto can be such an effective tool at cracking corruption. Imagine if all public spending was this transparent.”
Another user, NimaBeheshtian made a witty remark which said:
“Feds want crypto to succeed. It’s to their best interest to have a system which tracks transactions. The ones who have been involved knew about this 10 years ago hence why the, “BTC is used to hide drug money” was such a stale and ignorant argument.”
Moreover, Roubini also commented on the financial crisis, which is believed to be the next catalyst for the adoption of cryptocurrencies. While most people in the space are propagating that when the economy and governments are going to fail, the predictor of the 2008 financial crisis still believes otherwise. He said:
“I warned about US fiscal issues well before most crypto zealots were born. So I DO NOT join forces with them on this matter. And my view is that fiscal issue will NOT lead investors to go into crypto assets that are worth LESS THAN ZERO”
The post Monero [XMR] will be ‘cracked down’ by Feds soon, says Nouriel Roubini appeared first on AMBCrypto.
Source: AMB Crypto