Tron [TRX]’s Justin Sun invites ETCDEV developers to join the “family”

Justin Sun, the Founder and CEO of Tron Foundation, has always been in the limelight because of the brawl with Vitalik Buterin, the co-founder of Ethereum. Additionally, Ethereum, the third biggest cryptocurrency and the leading smart contract platform, has always been the biggest competitor of Tron, with the network surpassing that of Ethereum’s on several terms.
Now, Sun is back in the spotlight because of his invitation to one of the Ethereum Classic’s development team. The development team happens to be Ethereum Classic Development Company aka ETCDEV, which recently announced that they would be shutting down their operations.
The team has been responsible for taking care of the main client of Ethereum Classic, Classic Geth, ever since the occurrence of the DAO hack that resulted in split chains. The team is also known for the development of Emerald, Sputnik VM and Orbita. The reason for the company wrapping up their operations is owed to be the bear market, which resulted in the team failing to raise the sufficient fund required for the development of one of the leading projects.
Justin Sun said on his official Twitter handle:
“You can join #TRON family! Actually one developer in @etcdev has contacted us. #TRX $TRX”
Chris Tannahill, a Twitterati said:
“Despite what people may say, I think you’re doing some great things in this space, Justin  Some projects have brilliant ideas that are not sustainable in the current bear market. It’s awesome that Tron is looking to support developers through these difficult times. Keep it up”
PabloTheViking, another Twitterati said:
“Very clever move, Justin! This might turn out to be the smartest move you have ever done to lay the foundation for future growth of the Tron platform. Developers and applications are key to win this battle!”
Recently, Sun stated that Tron would be building a fund in order to rescue Ethereum [ETH] and EOS developers from the “collapse” of their respective platforms. He stated that the fund will be of help to them only if the developers chose to migrate their dApps to Tron.
The post Tron [TRX]’s Justin Sun invites ETCDEV developers to join the “family” appeared first on AMBCrypto.
Source: AMB Crypto

Ethereum Classic ecosystem crippled as ETCDEV plan Emerald, SputnikVM and Orbita migration

Recently, Ethereum Classic, one of the leading projects in the community, stepped under the spotlight as one of the lead development team, Ethereum Classic Development Company announced that they would be shutting down their operations. This announcement created a buzz in the market as the development team pointed out the other teams for failing them.
According to the official website, Ethereum Classic has five teams:

ETCDEV
IOHK [Grothendieck]
ETC Cooperative
ETC Labs
ETC Commonwealth

Out of the five teams, ETCDEV, IOHK and ETC Commonwealth are the ones that focus on the development of the project and the rest provide financial support for the growth of Ethereum Classic.
ETCDEV is known was maintaining the key client of Ethereum Classic – Classic Geth, which has been under the development team since the DAO hack. The other projects the team works on include Emerald wallet, Sputnik Virtual Machine, and Orbita.
Now, the company will stop their operations on Ethereum Classic due to a financial crisis. The Founder of ETCDEV, Igor Artamonov stated that the company is facing a cash crunch and that they were unable to raise funds as a result of the bear market.
In his recent blog post, Artamonov stated that the access for the funds that were meant to be utilized for the development of ETCDEV was lost. This was followed by the Founder seeking financial assistance from DFG and ETC Labs.
Post this, the Founder claimed that he had provided admin access to krykoder, a representative of DFG, on their request, who then removed everyone else’s access along with copying all the projects. This led to the team effectively losing control to Classic Geth and ETC community organization.
He had stated:
“Removing an admin is not a simple operation. GitHub asks for a special confirmation and password, and it has to be done several times, and for each admin. This can’t be done by mistake as ETC Labs, together with ETC Coop, are trying to portray no”
AMBCrypto reached out to Anthony Lusardi, Director of ETC Cooperative regarding this situation and their involvement in it. We also asked Lusardi on what would happen to the projects after ETCDEV shuts down their operations.
“1. ETC Cooperative has no involvement in the internal operations of ETCDEV or ETC Labs. We’re all separate. 2. We’re waiting for clarity on who will maintain ETCDEV’s projects going forward but I don’t think this is a concern, there are many interested in making sure these projects stay a part of the ecosystem. 3. GitHub is aware of the issue with the GitHub organization and they’re investigating and fixing it”
We also reached out to Igor Artamonov and asked about the company’s current stance taking into consideration that they have been working for the ETC ecosystem for more than two years now. We also asked him about the future of the project. To which, he said:
“we did all the work for ETC for past years, all protocol stuff, wallets, libraries and the whole infrastructure [including gastracker.io for example] was developer by me or the team. Currently, ETCDEV stopping all activities related to ETC. No other team was working on core projects before that moment.”
The founder and developer further stated:
“I don’t know who will continue that work, and what long term plans and strategy they has. Speaking about other projects, such as Emerald, Sputnik and Orbita, we’re going to continue our work on this projects, but it’s not going to be targeting Ethereum Classic.”
When asked for further clarification on the future of the projects and Classic Geth, he said:
“I’m working on future strategy and how Emerald, SputnikVM and Orbita can be used outside of Ethereum Classic or be blockchain agnostic. There is no final decision yet, and it will be published in following weeks. Classic Geth is community project though only ETCDEV was working on it for past 2 years. ETCDEV is not going to continue that work, and is not going to maintain it.”
The post Ethereum Classic ecosystem crippled as ETCDEV plan Emerald, SputnikVM and Orbita migration appeared first on AMBCrypto.
Source: AMB Crypto

Ethereum Classic Development Team Freezes in the Crypto Winter

CoinSpeaker

Ethereum Classic Development Team Freezes in the Crypto Winter

Ethereum Classic Development Team (ETCDEV) becomes the next victim to freeze in the Crypto winter. The CTO confirmed that dwindling resources resulted in the shutdown.

Ethereum Classic Development Team Freezes in the Crypto Winter

Continue reading at Coinspeaker
Source: CoinSpeaker

Ethereum Classic’s ETCDEV comes to an end after two and a half years of service

Ethereum Classic [ETC], one of the leading cryptocurrencies and smart contract platform, is back in the limelight. However, since the past few days, the news the coin is related to has only been unpleasant. Now, Ethereum Classic Development company has released a statement on their Twitter handle stating that they would be shutting down their current activities. Additionally, this news comes to light a few days after they posted a statement related Classic Geth’s security.
Igor Artamonov, Founder and CTO of ETCDEV said on Twitter:
“It is with great regret that I communicate the shutdown of ETCDEV current activities related to Ethereum Classic, effective immediately. As is publicly known we have struggled with funding our operations in the last few weeks.”
Artamonov went on to say that the main reason they failed to raise funds was because of the market crash. He further stated that the company’s cash crush is also an added factor. The announcement also stated that they were unable to secure short-term funds despite appealing to investors inside and outside the ecosystem, along with doing a community fund.
ETCDEV was a development company built on the Ethereum Classic platform. The team was responsible for maintaining the main client of Ethereum Classic, Classic Geth. The other projects included Emerald, Emerald wallet, and SputnikVM.
The development team has been maintaining Classic Geth since the famous DAO fork occurred, resulting in ETC and ETH. However, Artamonov recently stated that they lost admin control of Ethereum Classic community organization along with Classic Geth.
On the same day, the Founder stated:
“We wish to announce that ETCDEV is currently experiencing an attempt to takeover all of its properties, including code, and an attempt to poach our developers, which we are trying to prevent.”
This was followed by Artamonov speaking about the whole situation on his Medium blog titled, ‘On the Attempt to Take Over Ethereum Classic [ETC]’. In the post, Artamonov claimed that he lost access for funds which were meant to be utilized for the development of ETCDEV, succeeding which he approached ETC Labs and DFG for financial assistance.
Furthermore, the Founder claimed that he provided access to krykoder, a representative of DFG, because of their request. However, the representative removed access of all the other admins and has been accused of copying all the ETCDEV projects into his own repository.
He said:
“Removing an admin is not a simple operation. GitHub asks for a special confirmation and password, and it has to be done several times, and for each admin. This can’t be done by mistake as ETC Labs, together with ETC Coop, are trying to portray no”
Additionally, according to Artamonov, ETC was under a social attack and that it is orchestrated by ETC Labs and DFG.
DerSchorsch, a Redditor said:
“ETC never had any genuine usage to begin with apart from serving as a pump and dump by Barry Silbert / Digital Currencies Group.”
Wantedtogetinvolved, another Redditor said:
“Completely shilled by Charles Hoskinson who made of Eth classic was doing amazing things when if fact they were struggling Makes me wonder if Cardano is even a legit project or just a phantom webpage with a good visual update page”
The post Ethereum Classic’s ETCDEV comes to an end after two and a half years of service appeared first on AMBCrypto.
Source: AMB Crypto

Crypto Bear Market Strikes: Ethereum Classic (ETC) Development Group Folds

While crypto’s unbridled optimists have done their best to keep this market afloat, incessantly imploring Bitcoin investors to “HODL” and “BUIDL,” their cries haven’t stopped a key Ethereum Classic development group from unfortunately capitulating.
Ethereum Classic Ecosystem Loses Key Player Amid Market Tumult
After a multi-month downturn in the cryptocurrency world, which has seen $700 billion evaporate from this industry’s market value, ETCDEV, an essential player in the Ethereum Classic ecosystem, has announced its closure on December 3rd, 2018. For those who aren’t in the loop, ETCDEV is an Ethereum-centric development group launched two and a half years ago, whose creation was catalyzed by the DAO debacle of 2016.
Since the organization came into being, it rapidly became the face of the Ethereum Classic development community, lauded for its penchant for technological revolution and its ability to innovate.  But now, as aforementioned, the organization has had to fold, purportedly due to funding constraints.
Through a tweet, Igor Artamonov, the founder and chief technology officer of ETVDEV, wrote:

Unfortunately ETCDEV cannot continue to work in the current situation and has to announce shutdown of our current activities pic.twitter.com/N6xWnpBNJJ
— ETCDEV (@etcdev) December 3, 2018

Although the ETCDEV executive cited a lack of sustainable financing, this message comes just days after Artamonov released a Medium article lambasting one of his peers for being a “Trojan Horse” for another team. Regardless, the fact of the matter is that Ethereum Classic remains heavily wounded after this occurrence, as the project lost its primary development team.
Since the disheartening announcement from the experienced development consortium, ETC has fallen by 9.40% to $4.61 a pop, under-performing BTC by 5.7%.
Upon the advent of the rapid sell-off, deemed irrational by some, yet backed by $190 million in 24-hour volumes, the official Twitter page of the Ethereum predecessor quickly took to its brainchild’s side. Through a message of support, evidently issued to calm the nerves of perturbed ETC investors, the team made it apparent that ETCDEV isn’t the entire project. Instead, it was noted that Ethereum Classic is a consortium of like-minded innovators and teams, such as IOHK, ETC Co-op, “and a litany of volunteers.”
Aggregating its underlying bullish sentiment into a single statement, the show-runners behind the @eth_classic handle simply wrote, “keep calm, and build on.”
Crypto Bear Market Qualms
This recent announcement comes just days after Steemit, the company behind the (somewhat) decentralized social media platform that shares its name, revealed it was undergoing a business reorganization, purging 70% of its employees.
Related Reading: Steemit Announces Structural Reorganization, Laying off 70% of Employees
Ned Scott, CEO of Steemit, said on the matter:
“While we were building up our team over the last months, we had been relying on projections of basically a higher bottom for the market… Since that’s no longer there we’ve been forced to lay off more than 70% of our organization.”
He explained that as Steemit’s top brass met, amid worsening market conditions, it became logical that a staff restructuring at the private startup was necessary. Interestingly, Scott failed to divulge an exact headcount pre- and post-purge, making it difficult to discern how many were affected.
SpankChain, an adult entertainment platform centered around blockchain, recently saw its CEO take to Reddit to announce that it, as well as Steemit, had downsized drastically. The project head noted that the SpankChain project hired eight individuals, and has reduced its burn rate from $200,000 to $80,000 per month.
However, it isn’t all doom and gloom, as not all crypto-related organizations and startups have been subject to the financial pressure caused by the unpredictable cryptocurrency market.
As reported by BreakerMag, Ethereum pioneer Joseph Lubin, who can be likened to the Sergey Brin (Google co-founder) of the blockchain industry, recently distributed an uplifting note to all employees at ConsenSys, often defined as the Google of this innovative sector. In the letter, authored by the passionate Canadian technology entrepreneur, it was noted that in spite of the market sell-off, ConsenSys remains poised to “succeed wildly,” with a potential to usurp the traditional facets of society. Lubin wrote:
“[Blockchain is] a technology and an ethos that many of us believe will profoundly reshape human society over time… We now find ourselves occupying a very competitive universe, [and have the ability to] succeed wildly. [But,] we must recognize that what got us here will probably not get us there, wherever ‘there’ is.”
In a testament to Lubin’s undying belief in this decade-old technology, ConsenSys itself, primarily consisting of a handful of distributed subsidiaries, has reportedly hired upwards of 550 employees. BreakerMag has divulged that the startup’s rapid expansion can be primarily attributed to Lubin’s Ether coffers, which are reported to hold millions upon millions of ETH. And despite the downturn, it appears his stash isn’t even close to depletion.
Featured Image from Shutterstock
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Ethereum Classic Price Analysis: ETC/USD Could Retest $4.00 Support

Key Highlights

Ethereum classic price started a fresh decline after trading close to $5.30 against the US dollar.
There was a break below a major bullish trend line with support at $4.60 on the hourly chart of the ETC/USD pair (Data feed via Kraken).
The pair is now at a risk of more losses below the $4.40 and $4.20 levels.

Ethereum classic price declined sharply against the US Dollar and Bitcoin. ETC/USD is back in a bearish zone and it could revisit the $4.00 support level.
Ethereum Classic Price Analysis
This past week, there was a decent recovery above $4.80 in ETC price against the US dollar. The ETC/USD pair traded above the $5.00 and $5.20 resistance levels. A high was formed at $5.27 and later the price started a fresh decline. It traded lower sharply and broke the $5.00 support and the 100 hourly simple moving average. There was even a break below the 76.4% Fib retracement level of the last wave from the $4.40 low to $5.27 high.
Moreover, there was a break below a major bullish trend line with support at $4.60 on the hourly chart of the ETC/USD pair. The pair is currently trading near the $4.40 low, which is acting as a support. If the price continues to move down, it could test the $4.20 support. It coincides with the 1.236 Fib extension level of the last wave from the $4.40 low to $5.27 high. However, the key support is near the $4.00-4.05 zone where buyers are likely to emerge. If the price corrects higher, the previous supports at $4.50 and $4.75 are likely to prevent gains.

The chart suggests that ETC price is back in a bearish zone with a close below $5.00 and 100 SMA. The next stop for sellers could be either $4.20 or $4.05.
Hourly MACD – The MACD for ETC/USD is slowly moving back in the bullish zone.
Hourly RSI – The RSI for ETC/USD is recovering towards the 45 level.
Major Support Level – $4.20
Major Resistance Level – $4.75
The post Ethereum Classic Price Analysis: ETC/USD Could Retest $4.00 Support appeared first on NewsBTC.
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Ethereum Classic Price Analysis: ETC/USD Could Gain Pace Above $5.00

Key Highlights

Ethereum classic price recovered recently and tested the $5.00 resistance against the US dollar.
There was a break above a crucial bearish trend line with resistance at $4.45 on the hourly chart of the ETC/USD pair (Data feed via Kraken).
The pair is currently correcting lower, but it could bounce back and clear the $5.00 barrier.

Ethereum classic price is slowly moving higher against the US Dollar and Bitcoin. ETC/USD must settle above $5.00 to stage a decent recovery in the coming days.
Ethereum Classic Price Analysis
After a massive drop, ETC price found support near the $4.00 area against the US dollar. The ETC/USD pair formed a solid base above the $4.00 level and later started a recovery. It moved higher and broke the $4.40 and $4.60 resistance levels. During the rise, there was a close above the $4.60 resistance and the 100 hourly simple moving average.
Moreover, there was a break above a crucial bearish trend line with resistance at $4.45 on the hourly chart of the ETC/USD pair. The pair tested the $5.00 resistance and formed a high at $5.07. Later, it started a downside correction and traded below $5.00 and $4.90. The price even broke the 23.6% Fib retracement level of the recent wave from the $4.09 low to $5.07 high. On the downside, there are a few key supports near the $4.60 and $4.50 levels. The 50% Fib retracement level of the recent wave from the $4.09 low to $5.07 high is also near $4.58. Finally, the 100 hourly SMA is positioned near the $4.50 level. Therefore, dips from the current levels will most likely find support near $4.60, $4.60 or $4.40.

The chart suggests that ETC price seems to be following a bullish path above $4.50. A successful daily close above $5.00 could open the doors for more gains.
Hourly MACD – The MACD for ETC/USD is currently in the bearish zone.
Hourly RSI – The RSI for ETC/USD is still above the 50 level.
Major Support Level – $4.50
Major Resistance Level – $5.00
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Coinbase Wallet Adds Support for Ethereum Classic and More that 100k Other ERC20 Tokens

CoinSpeaker

Coinbase Wallet Adds Support for Ethereum Classic and More that 100k Other ERC20 Tokens

In the wake of upcoming upgrade Coinbase Wallet will serve Ethereum Classic (ETC) and all of the 100,000+ ERC20 tokens available on the Ethereum blockchain, the official statement revealed.

Coinbase Wallet Adds Support for Ethereum Classic and More that 100k Other ERC20 Tokens

Continue reading at Coinspeaker
Source: CoinSpeaker

Ethereum Classic [ETC] now supported by Coinbase Wallet

Coinbase, the cryptocurrency exchange headquartered in San Francisco, announced that their Coinbase Wallet now supports Ethereum Classic. It will now support ETH, ETC, and “all of the 100,000+ ERC20 tokens on the Ethereum blockchain”. The update scheduled in the next few days, will allow users to view, send, and receive ETC on their Wallet.
The Coinbase blog stated:
“For existing Coinbase Wallet users — your ETC address will be the same as your current Ethereum (ETH) address, so any ETC you have sent to your Coinbase Wallet ETH address in the past will now show up after the update.”
Coinbase Wallet’s mission is “to be the easiest and most trusted crypto wallet, we plan to add support for even more blockchains in the future”.
Ethereum Classic has a market capitalization of $450.5M, and a 24 hour trading volume of $164.28M. It is trading at $4.32, with a circulating supply of 106,343,805 ETC, according to CoinMarketCap.
Steven Carrejo, @s_carrejo1, tweeted:
“They’re sadly trying to pump ETC. A coin with no use case..”
Another Twitterati, Jason Elliott, @OnWindowly, said:
“Please support Bitcoin SV as well!”
Ethereum Classic is a hard fork from Ethereum, following a hacker exploiting a DAO [Decentralized Autonomous Organization], which is a complex smart contract. The hacker, in June of 2016, managed to get $50M into a child DAO, but this couldn’t be accessed for 28 days. In this time interval, Ethereum price went down in half and Ethereum hard forked into ETH and ETC, even though this hack was because of incorrect DAO implementation and not the Ethereum platform itself.
The post Ethereum Classic [ETC] now supported by Coinbase Wallet appeared first on AMBCrypto.
Source: AMB Crypto

Ethereum Classic Price Analysis: ETC/USD At Risk Of Break Below $4.00

Key Highlights

Ethereum classic price is under pressure below the $5.00 resistance against the US dollar.
There is a major bearish trend line formed with resistance at $4.50 on the hourly chart of the ETC/USD pair (Data feed via Kraken).
The pair is likely to struggle above $4.50 and it could even break the $4.10 low in the near term.

Ethereum classic price declined further against the US Dollar and Bitcoin. ETC/USD could accelerate losses below $4.10 and $4.00 if it fails to climb above $5.00.
Ethereum Classic Price Analysis
During the past few days, there was a sharp decline in ETC price below the $6.00 support against the US dollar. The ETC/USD pair even broke the $5.00 support area and settled well below the 100 hourly simple moving average. The recent rise in selling pressure on Ethereum, ripple and bitcoin sparked more losses in ETC below $4.50. The price even broke the $4.20 support level and formed a new yearly low at $4.08.
At the moment, the price is consolidating losses above the $4.10 level. An initial resistance is the 23.6% Fib retracement level of the recent decline from the $4.91 high to $4.08 low. More importantly, there is a major bearish trend line formed with resistance at $4.50 on the hourly chart of the ETC/USD pair. The trend line is close to the 50% Fib retracement level of the recent decline from the $4.91 high to $4.08 low. Therefore, if the price corrects higher, it may face a strong resistance near the $4.40 and $4.50 levels.

The chart suggests that ETC price is struggling to stay above the $4.10 and $4.08 levels. If there is a downside break below $4.08, the price is likely to accelerate losses below the $4.00 level in the near term.
Hourly MACD – The MACD for ETC/USD is slightly placed in the bullish zone.
Hourly RSI – The RSI for ETC/USD is flat below the 50 level.
Major Support Level – $4.00
Major Resistance Level – $4.50
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Ethereum Classic Price Analysis: ETC/USD Could Tumble Below $9.00

Key Highlights

Ethereum classic price is currently under pressure below the $9.25 support against the US dollar.
There is a major bearish trend line in place with resistance at $9.25 on the hourly chart of the ETC/USD pair (Data feed via Kraken).
The pair remains at a risk of more losses below $9.00 if it fails to move above $9.25.

Ethereum classic price is currently in a bearish zone against the US Dollar and Bitcoin. ETC/USD may perhaps continue to decline towards $8.80 or $8.60.
Ethereum Classic Price Analysis
In the last analysis, we discussed the key support at $9.20-$9.25 in ETC price against the US dollar. The ETC/USD pair failed to stay above the $9.25 support and declined further. It traded below the $9.00 support and settled below the 100 hourly simple moving average. The price as low as $8.90 and later corrected higher. It moved above the $9.10 level and the 23.6% Fib retracement level of the recent decline from the $9.57 high to $8.90 low.
However, the upside move was capped by the $9.25 level, which was a support earlier. Moreover, the 50% Fib retracement level of the recent decline from the $9.57 high to $8.90 low acted as a solid barrier. Besides, there is a major bearish trend line in place with resistance at $9.25 on the hourly chart of the ETC/USD pair. The pair is currently under pressure and it is trading around the $9.00 support. If sellers remain in action, the price may perhaps extend losses below the $8.90 low. The next main support is at $8.80 followed by $8.60.

The chart suggests that ETC price is trading in a bearish zone below $9.25. Only a close above $9.20 and $9.25 could push the price back in a positive zone in the near term.
Hourly MACD – The MACD for ETC/USD is placed in the bearish zone.
Hourly RSI – The RSI for ETC/USD is currently well below the 40 level.
Major Support Level – $9.00
Major Resistance Level – $9.25
The post Ethereum Classic Price Analysis: ETC/USD Could Tumble Below $9.00 appeared first on NewsBTC.
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Ethereum Classic (ETC) Technicals Indicate A Big Move Before Full IOT Compatibility This Month

Ethereum Classic (ETC) is expected to become fully IOT (Internet of Things) compatible by November 30, 2018. This is no doubt going to be a big development for the sleeping giant. However, previously we have seen events like Coinbase listing and ETC Summit makes no impact on the price of Ethereum Classic (ETC) at all. For all we know, this time may be no different and the price may not appreciate short term. However, all of these developments combined are definitely going to have a strong impact long term. Most cryptocurrency projects do not think beyond cryptocurrencies or the blockchain technology. There is a reason for that. Blockchain is a hot topic and they want to capitalize on that, but what happens when blockchain is not so hot anymore?
This is what differentiates Ethereum Classic (ETC) from most other projects. While most projects out there are in the race to create new chains and wallets, Ethereum Classic (ETC) is working on using those chains and wallets for IOT (Internet of Things). Of course most other projects are not focusing on IOT because they are not made for IOT. For instance, Ethereum (ETH) is a great blockchain but its centralized governance and mutable nature makes it a nightmare for IOT. The same goes for EOS (EOS). As for IOTA (MIOTA), it has a strong chance at becoming a serious contender in the IOT space but it has technological limitations as IOTA (MIOTA) is not built on a blockchain. A few critics from MIT recently pointed out some flaws in IOTA’s tangle.

Ethereum Classic (ETC) on the other hand is tried and tested and is better positioned to become the leader in IOT.  We are still weeks away from Ethereum Classic (ETC) becoming fully IOT compatible but the technicals are already showing signs of a major breakout. The first chart for ETCUSDLongs shows a strong bull flag being formed. This shows that the bulls are ready to push the price higher, but that is not all. The weekly chart for ETCUSDShorts shows that the bearish resolve is seriously hurt now that the number of shorts has broken below the historical trend line. One big drop in the number of shorts could result in a major spike in the price of ETC/USD. Both the ETCUSDLongs and ETCUSDShorts point to one conclusion and that is a bullish breakout in the weeks ahead.

To put it all in perspective, let us examine what ETC/USD has been through. The price declined from its all time high of $44.34 to a low of $8.86. During the correction, Ethereum Classic (ETC) saw a lot of favorable developments but none of them made any impact on its price. The price has now completed a bullish gartley pattern spanning over a period of two years. The price has completed a correction in the same manner it completed a rally between 2017 and 2018. Ethereum Classic (ETC) is one of the few coins that have seen gaming changing developments during the correction. It is likely that all of these developments will eventually reflect in its price as the market recovers.

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The post Ethereum Classic (ETC) Technicals Indicate A Big Move Before Full IOT Compatibility This Month appeared first on Crypto Daily™.
Source: Crypto Daily

Ethereum [ETH] says deep down, we’ll always love Ethereum Classic [ETC] despite the divorce

According to a recent announcement, Ethereum [ETH] special projects platform will be donating 15,000 ETC to Ethereum Classic Cooperative. This donation is to ensure that the Ethereum Foundation is investing in ETC in order to maintain a long-term positive-sum relationship.
The report stated that the Foundation found a cold wallet which had about 15,000 ETC. The Ethereum Foundation decided to donate the unsold ETC to the Ethereum Classic Cooperation. Furthermore, the reason for the foundation to donate the ETC was because Ethereum Classic had some quality engineering.
Some of the projects that interested the Ethereum foundation were the SputnikVM, which aims to be an efficient virtual machine for different Ethereum-based blockchains, and the Emerald Platform, an open source project, where tools are created by developers to build decentralized applications on Ethereum Classic [ETC].
In addition, the Ethereum foundation felt that donation could unite both the platforms for a greater good and create an opportunity “to bury the hatchet” between both the communities. In the top 25 cryptocurrencies, ETH and ETC shared a similar vision and technology. It was further in the mutual interest of both the platforms to work together and maintain a positive relationship.
Ethereum Foundation further added:
“The divorce was bitter, the narcissism of small differences will continue to raise its head within our two communities. But deep down, the ETC community will always be a part of us by both history and vision.”
The dispute between both the communities is the most popular one in the cryptocurrency space as the tension has ensured its presence in the cryptoverse for almost two years now. The reason for the “divorce” of the communities is the DAO hack, which resulted in the separation of the Ethereum network. This led to the birth of the second biggest cryptocurrency, Ethereum and the sixteenth biggest cryptocurrency, Ethereum Classic.
Moreover, until now, both the communities stayed away from each other, only to occasionally throw a fit. To add on to this, the Ethereum Classic community always referred to itself as the original Ethereum as it chose to stay on the original chain and believed that the split was against the values of the blockchain.
This effort from both the communities to collaborate and work together for the betterment of the ecosystem has stirred up the whole community, with some for the truce and some against it.
Donald McIntyre, a Twitterati said:
“Unfortunately, every blockchain has its share of corporatist participants. This is a deal between a foundation and a cooperative, nothing more. Many of us in ETC reject your social attacks. Money is on your side, but time and sound principles are on ours.”
Chiangmaichuck, another Twitterati said:
“Vitalik is one of the nicest guys. It’s like his ex-wife cheated on him and yet he still pays child support because he loves the kids that aren’t his”
Barry Silbert said on Twitter:
“The Ethereum Foundation just donated $150,000 (in $ETC) to the Ethereum Classic Cooperative Thrilled to see bridges being built between the Ethereum and Ethereum Classic communities”
The post Ethereum [ETH] says deep down, we’ll always love Ethereum Classic [ETC] despite the divorce appeared first on AMBCrypto.
Source: AMB Crypto

Ethereum Classic (ETC) Bears Have Formally Surrendered

Ethereum Classic (ETC) bears have literally given up for the first time in more than two years. The early signs of surrender started to appear when the 10 Week EMA broke below the 21 Week EMA on the weekly chart for ETCUSDShorts. The surrender was formalized when the price broke below the trend line for the first time since September 2017. The effects of this surrender will be seen when the retail bears realize that their leaders have put down their arms. Currently, only the bears at the forefront realize that the war is over and they have lost. However, as they start to turn back and the army of bears see them coming, they are going to run for their lives. That is when we will see the effects of this surrender.
Needless to say, a lot of bears are going to get trampled during the madness that is about to follow. Those who are quick to flee the battlefield might be able to save their lives. However, all of this is going to happen in a very short window and most may not even have the time to get out now. Those who were smart realized around September that shorting Ethereum Classic (ETC) is no longer worth the risk/reward. However, there were others who take pride in living dangerously. They pushed on to choke the price of Ethereum Classic (ETC). They pushed it below $10, but that was not enough. So, they kept pushing and the price fell to $8. Now, all of a sudden when they were done pushing, they realized that they had crossed beyond enemy lines.

For Ethereum Classic (ETC) bulls this is going to be a historic win. When such a large number of shorts pile up especially under such dangerous levels and low volume, it only takes one big order to trigger a short squeeze. A short squeeze is liquidation of shorts. When you go long on an asset, you get liquidated if the price falls below your stop loss. Similarly, when you go short, you get liquidated when the price rise above your stop loss which unlike longs is higher than the current price. The net result of all this is that you end up buying ETC/USD at a higher price and the price gets pumped up in a very small time frame.
We have seen this happen in the case of many cryptocurrencies but for Ethereum Classic (ETC), this would be the first time to see a massive short squeeze to liquidate most shorts. Not to get too excited, but this could easily pump the price above the previous all time high in a matter of days! This debate is even more significant when you consider that Ethereum Classic (ETC) is expected to become fully IOT (Internet of Things) Compatible by November 30. That would be a landmark achievement for the Ethereum Classic (ETC) community. Thus, it is very reasonable to expect that the ongoing month of November might be the single most important thirty days in the entire history of Ethereum Classic (ETC).

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Source: Crypto Daily

Coincheck Resumes New Account Openings, Customers Deposits

Coincheck, the Tokyo-based cryptocurrency exchange victim of a $500 million worth theft, has resumed new account openings, customer deposits, and purchasing of some digital currencies.
The operator had suspended some services following the late January incident in order to protect customers’ assets and investigate the cause of hacking.
Coincheck Exchange Resumes Trading of BTC, ETC, LTC, BCH, New Accounts Exclusive for Japan Residents
The theft of $500 million worth of NEM in early 2018 caused alarm in Japan, forcing the hand of the country’s financial watchdog, the Financial Services Agency (FSA), to be more demanding of cryptocurrency exchanges operating in its jurisdiction.
Coincheck has improved its governance and internal control throughout the year in order to safely restart its activities, the company explained in the announcement.
“In particular, we resumed JPY withdrawal in February 2018 and remitting and selling of cryptocurrencies gradually during the period from March to June 2018. And now, here we announce that Coincheck has resumed “new account openings” and “customers’ depositing and purchasing some cryptocurrencies” services today.”
The cryptocurrencies made available for deposit are BTC, ETC, LTC, and BCH, which are also available for purchase. Bitcoin trading on Coincheck was never suspended and users were always able to sell any cryptocurrency on their portfolios.
New account openings are only available for customers residing in Japan. The registration process includes the submission of identification documents and a KYC check, before receiving a postcard-sized letter from Japan Post instructing the account activation.
Coincheck requests existing customers to generate a depositing address when reusing the depositing service. If a remittance is sent to the old deposit address, the operator will not reflect it on the user’s balance nor return it back.
The operator, which was acquired by Monex Group for $33.5 million, warns customers that trading services may be temporarily suspended if the platform experiences a significant increase in the volume of transactions or sudden price fluctuations.
Coincheck is yet to resume depositing and buying of ETH, XEM, LSK, XRP, and FCT, as well as leveraged transactions for new positions, its affiliate service, JPY depositing through convenience stores, JPY quick depositing (Pay-easy), Coincheck Payment, and Coincheck DENKI (electricity). The services are expected to resume once they are confirmed safe and ready to be offered, the operator added.
In May 2018, the cryptocurrency exchange announced it was ordered to delist Monero (XMR), Zcash (ZEC), Dash and Augur’s Reputation (REP) in accordance with Japan’s FSA’s new policy which aims at banning cryptocurrencies that offer significant anonymity.
Featured image from Shutterstock.
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Source: New feedNewsBTC.com