Bitcoin Sets Yearly Low Below $4,400, Recovers Slightly as Altcoins Continue to Drop

After yesterday’s widespread market carnage, Bitcoin has continued to drop and is showing little sign of a pending recovery. Bitcoin’s latest drop to fresh 2018 lows has dragged altcoins even further down, and market sentiment is sitting at a yearly low as investors lose hope.
At the time of writing, Bitcoin (BTC) is trading down 7% at its current price of $4,780, but has recovered slightly from its intraday lows of under $4,400. Bitcoin has been falling ever since it failed to decisively breach the $6,500 level earlier this month, and today’s slight bounce was the first major one Bitcoin has seen since it started its decline.
BTC’s latest leg down, which first began yesterday when it fell below $5,000 and continued well into today, has been perpetuated by increased trading volume, which has surmounted to nearly $9 billion on the aggregated markets. This is up significantly from its volume levels earlier this week while BTC was trading in the mid-$5,000 region, where its 24-hour trading volume was just over $4 billion.
The overall cryptocurrency market cap is currently sitting at approximately $155 billion, down from its November highs of $220 billion.
Related Reading: Analyst: Too Early to Write off Bitcoin, SEC Had Negligible Effect on Crypto Markets
Altcoins Sink to New 2018 Lows as Bitcoin Plunges
Bitcoin’s price drop over the past few days has led the markets, with most altcoins trading down significantly over the past week.
The market drop has been led by Ethereum (ETH) and Bitcoin Cash (BCH), which have seen massive drops of 35% and 60% respectively from their November highs.
Ethereum, which dropped from monthly highs of $220 to its current price of $143, may be seeing the result of ICO projects selling off their remaining ETH holdings in an effort to protect their funds, although this claim, which has been echoed by several pundits and analysts, is purely speculative and there is little data to support it.
Bitcoin Cash has been spiraling downwards ever since its hard fork event occurred, which initially seemed like a good thing for BCH’s price.
In late-October and early-November, BCH’s price climbed from under $420 to highs of over $630 due to the imminent hard fork event, but around this price enthusiasm died off and traders began taking profits, which pushed its price down.
Following the hard fork event, BCH continued to spiral downwards, which was perpetuated by Bitcoin’s crash, leading its price near its all-time-lows of $208.
XRP has been a market outlier over the past few days and has been relatively stable during these turbulent market conditions.
At the time of writing, XRP is trading down 8% at its current price of $0.452. Although its price has fallen slightly today, it has held up significantly well over the past few days and is only trading down 16% from its monthly highs of $0.54. Although this seems like a large drop, it has been one of the best performing altcoins in the market.
Over the coming days and weeks, the market’s price movements will give investors increased clarity as to whether or not this is simply capitulation or a sign of what is to come in 2019.
Featured image from Shutterstock.
The post Bitcoin Sets Yearly Low Below $4,400, Recovers Slightly as Altcoins Continue to Drop appeared first on NewsBTC.
Source: New

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


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

Continue reading at Coinspeaker
Source: CoinSpeaker

Ethereum Plunges 12%: Will ICOs Continue to Drag ETH Down?

Bears hit the cryptocurrency market today, and Ethereum was among the most severe casualties.
The world’s third largest cryptocurrency erased as much as $2.25 billion from its market cap. Meanwhile, its value plunged 12 percent from an intraday high at $177 to $155.60 – its new intraday low – within a few hours, according to aggregated data available at Aayush Jindal, a crypto market analyst at NewsBTC, predicted further declines in the Ether-to-dollar market, citing a critical bearish trendline that is capping every upside attempt of the digital currency.
“There is a key connecting bearish trend line formed with resistance at $178 on the hourly chart of ETH/USD,” he forecasted.
ICOs Likely to Intensify Selling Action
A report coming at the behest of Diar, a daily crypto newsletter, also found strong bearish catalysts that point to an extended selling action in the Ethereum market. The study based its bearish prediction on the possibility of the leading ICO projects liquidating their ETH holdings.
“Some of the most popular and anticipated projects, most of which have yet to launch, are sitting on treasuries north of $500Mn. That’s excluding their cash on hand, as well as their own token reserves,” Diar research found.
Larry Cermak, head analyst at Diar, believed that these decentralized applications project would become unprofitable. Meanwhile, they will continue shorting Ether to cover their expenses against the lower market demand. The imbalance will prove bearish to the Ethereum market, overall.
“Obviously, a lot of the ICO companies will continue selling ETH to cover operating expenses and to fund their businesses,” Cermak said in a tweet. “It’s important to realize that the majority of these projects isn’t generating any revenue. And most likely never will.”
Demand to Drive Ether Bulls
The Diar analysis offered its predictions based on how ICO projects would behave with their Ether holdings. It provided a more straightforward view of the projects that reportedly holds roughly 3.7% of the total Ether coins in circulation. While the likelihood of ICO project selling their entire holdings is high, the same cannot be predicted on the demand side which keeps fluctuating.
Retail investors, hedge funds and every other speculator could keep looking at Ether as an investable asset, similar to Bitcoin. On the other hand, blockchain projects could create network effects for their platform growth and use Ether as money or store-of-value.
Then, scalability should continue to challenge the Ethereum network and hamper its adoption rate at a larger scale. Other projects are also developing in the blockchain space to circumvent Ethereum’s shortcomings but even they are facing challenges over some factors related to feasibility – and even decentralization.
In a near-term scenario, the Ethereum market should act on the whims of speculative investors. That means, an extended selling action should establish a new bottom and retrace its steps to find an equally crucial resistance – just like Bitcoin.
The post Ethereum Plunges 12%: Will ICOs Continue to Drag ETH Down? appeared first on NewsBTC.
Source: New

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 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 @Tronfoundation
— 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
The post Tron Surpasses Ethereum for dApp Transaction Volume, Launches Program for Developers appeared first on NewsBTC.
Source: New

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


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

Continue reading at Coinspeaker
Source: CoinSpeaker

Ripple Remains Strong Up 10% on The Month, Can it Decouple and Catch Bitcoin?

There have been few survivors from last week’s crypto rout which saw almost $30 billion wiped off the markets in a couple of days. Bitcoin for one has taken a beating this time and has settled at a new price range indicating that a recovery could be a long way off. XRP on the other hand has weathered the digital storm and emerged on top, well on top of Ethereum at least.
Solid Performance Over The Past Month
Ripple constantly claims that XRP has nothing to do with the company but the simple fact is that it does. What happens to Ripple will affect XRP, and with over half the supply locked away by the company, it is still holding all of the strings. Positive developments for both the firm and its token have made XRP one of the few cryptocurrencies to make a gain over the past month. It has made over 10% in the last thirty days while Bitcoin and Ethereum have nosedived 14 and 16 percent respectively.
These gains have pushed XRP above $20 billion market capitalization and into second place as Ethereum continues to slide. The crypto twitter-sphere is awash with talk of a ‘flippening’ today as the notion of XRP catching Bitcoin becomes more valid. It still has a long way to go however with a market cap gap of over $75 billion and many observers are commenting in jest.

The higher $XRP climbs the more I am certain it will flip $BTC in 2019.
Very obvious this will be our new crypto standard.
Hard to accept for many but so was bitcoin back in 2010
— 𝕭𝖎𝖙𝖑𝖔𝖗𝖉 55 (@Crypto_Bitlord) November 18, 2018

CNBC’s crypto-trader host Ran NeuNer highlighted that the recent hash wars between Bitcoin Cash clans has done nothing to bolster the crypto ecosystem or its communities;

These hash wars highlight why everyone should dump BTC and BCH and just put all their money into XRP!
— Ran NeuNer (@cryptomanran) November 17, 2018

Other memes have included pictures of the Grim Reaper coming for Bitcoin. Even Craig Wright of the ‘faketoshi’ tribe chimed in tweeting “For XRP not to be a security, it will need to be a real utility offer. IF something is exchanged with expectations of profit, it is not a utility token. XRP is a tradable good that is sold under the expectation of profit. That in itself makes it a security.” If the US SEC agrees with this, XRP hodlers could be dumped en masse.
Decoupling In Motion?
For XRP to truly be propelled though, it needs to be decoupled from Bitcoin which has driven the state of crypto markets since they began. The only way to do this would be for more exchanges to offer trading pairs in XRP in addition to BTC, ETH and stablecoins. Weiss Ratings tweeted that BTC should not dictate the outcome of every single project in the industry;

What's it gonna take for #XRP to decouple from #BTC? Simple: XRP-based trading pairs. The sooner we add more diversity to the crypto space, the safer we'll all be. #Bitcoin shouldn't dictate the outcome of every single project in this industry. #Binance, are you listening?
— Weiss Ratings (@WeissRatings) November 16, 2018

Binance boss, CZ, meanwhile has also responded, talking about the growing requests for XRP base pairs;

The xrp base shill is strong. Let's get it out of your system, and put all your shills under this one tweet, and let's see how much we get.
— CZ Binance (@cz_binance) November 18, 2018

At the time of writing during the Asian trading session XRP was trading at $0.50, down less than a percent on the day, but more significantly Bitcoin and Ethereum were dropping even further.
Image from Shutterstock
The post Ripple Remains Strong Up 10% on The Month, Can it Decouple and Catch Bitcoin? appeared first on NewsBTC.
Source: New

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.
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

Cryptocurrency Price Analysis for the week November 12 to November 18

Key Highlights:

Bitcoin Cash Fork Chaos that brought the markets down,
XRP is now ahead of Ethereum at second place by market cap,
Opposite view from the regulators as IMF says Govts Should Set Up Own Cryptocurrencies while the European Commercial Bank calls Cryptos an Evil Swamp,
Finally, a Crypto Exchange-Traded Product will go live on Swiss Stock Exchange Next Week,
OKCoin Launches In Latin America

Among major news this week, Bitcoin Cash, the project that forked away from the Bitcoin blockchain in August 2017, “hard forked” (split) into two different coins: “Bitcoin Cash ABC” (BCH ABC) and “Bitcoin Cash SV” (BCH SV). In the aftermath of the fork, the Bitcoin Cash ABC chain has more accumulated proof of work, and its native currency, BCH ABC, was trading higher on (futures) exchanges. Most Bitcoin Cash ABC proponents, therefore, felt victorious — though many Bitcoin Cash SV proponents have not yet conceded defeat. Although, just before the fork, the cryptos finally broke their stability, only to plunge down 10%. Nearly all major currencies took the beating but did see some mild recovery post the fork.
This BCH fork led downpour in the crypto market and subdued prices over past few months, resulted in Ethereum losing its second spot to XRP. Ethereum’s value plummeted 38.6 percent in the past three months, dropping its market cap to $18.1 billion. XRP’s value rose 61.1 percent in that same period, pushing its market cap to $20.5 billion.
Among regulators, IMF head Christine Lagarde said, Governments should consider offering their own cryptocurrencies to prevent the systems becoming havens for fraudsters and money launderers. According to The Guardian report, Lagarde said that central banks had to work quickly to establish digital cash for burgeoning networks of private financial transactions or risk their mushrooming into trading networks that were inherently unstable.
While IMF had a positive view, European Central Bank (ECB) executive board member Benoit Coeure has stated that cryptocurrencies like Bitcoin are the evil spawn of the 2008 financial crisis, reported Bloomberg. He further added that was an extremely clever idea, but not very clever idea is a good idea. Speaking at the Bank for International Settlements in Basel, Coeure seconded the Bank for International Settlements (BIS) chief Agustin Carstens’ idea that Bitcoin is a “combination of a bubble, a Ponzi scheme, and an environmental disaster” and said, “Few remember that Satoshi embedded the genesis block with a Times headline from January 2009 about U.K. banks’ bailout. In more ways than one, Bitcoin is the evil spawn of the financial crisis.”
Finally, An exchange-traded product tracking an index of five leading cryptocurrencies reportedly will start trading on Switzerland’s Six stock exchange next week. The product will be available to both retail and institutional investors. The Financial Times reported on Friday that Switzerland’s Six exchange has given a green light to a cryptocurrency exchange-traded product (ETP). The news outlet elaborated:”The Amun Crypto ETP, which will start trading next week on the Six exchange in Zurich, has been designed to track an index based on the movements of five leading cryptocurrencies”
Among international expansions, US-based OKCoin recently announced the launch of its licensed exchange platform in Latin America by offering fiat-to-crypto trading between the Argentine peso and several major cryptocurrencies. The exchange offers cryptocurrencies including Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Litecoin, Ripple, Cardano, Stellar, Zcash and 0x. The exchange plans to open an office in Buenos Aires and build up a team to support its business throughout Latin America.
Chart Source:
Bitcoin (BTC):
Bitcoin finally broke its stability as the pre BCH fork meltdown took the coin down by 10% breaking the USD 600 support. The prices hit the high point of USD 6,434.21 and the lowest point of USD 5,358.38 during the week. The exchanges that were more active, in volumes, with BTC across various pairs this week were, BitMex (15.24%), CoinBene (3.85%) and Binance (2.48)
Among prominent voices, prominent crypto analyst Tom Lee, who once targeted Bitcoin to reach $25000 by end 2018 is lowering his prediction to $15000
Ethereum (ETH)
Ether prices took a beating and lost its long-standing second place to XRP. Ethereum on the top, this week was at USD 212.62 and were at lows of USD 170.19 breaching the USD 200 mark by distance. The markets that were more active, in volumes, with ETH across various pairs this week were OEX (4.90%), BitForex (3.83%) and LBank (3.80%)
Among news surrounding Ethereum, Mike McDonald, creator of MKR Tools, revealed that 1,000,000 ETH – roughly 1% of the total supply of Ether – are locked in a MakerDAO’s smart contract.
Ripple (XRP)
XRP moves to second place as Ethereum takes a beating. On the top, this week the prices of XRP were at USD 0.525536 and towards the bottom, it quoted USD 0.430398. The exchanges that were more active, in volumes, with XRP across various pairs this week were Bitbank (14.20%), Binance (8.08%) and UpBit (5.72)
For XRP this week, Binance CEO, CZ, Hints at how XRP can become a base currency on the platform
The Other Movers and Shakers
The Other coins that made to the top and bottom this week according to Coin Market Cap (accessed on November 18 at 1:30 pm IST) were
– Nasdacoin – Showing a rise of 222.89%
– On.Live – Showing a rise of 71.43 %
– Fox Trading – Showing a rise of 68.88%
– Olive – Showing a drop of 84.64%
– Provoco Token – Showing a drop of 70.71%
– InvestFeed – Showing a drop of 59.04%
What do you think would be the sentiment of the crypto markets next week? Do let us know your views on the same.
The post Cryptocurrency Price Analysis for the week November 12 to November 18 appeared first on Coingape.
Source: CoinGape

Switzerland approves the very first cryptocurrency ETP includes Bitcoin, Ethereum, XRP, Bitcoin Cash and Litecoin

While the whole cryptocurrency community has been waiting for the SEC to approve a Bitcoin ETF, Switzerland has yet again proved that they are one step ahead than any other country in terms of encouraging institutional investors to participate in this space.
According to reports by Financial Times, Switzerland’s main stock exchange has opened its doors for the first ETP tracking multiple cryptocurrencies. SIX Swiss Exchange, based in Zurich, will start the trading of Amun Crypto ETP from next week. The ETP is designed to track an index of the five well-known cryptocurrencies. This includes Bitcoin [BTC], Ethereum [ETH], XRP, Bitcoin Cash [BCH] and Litecoin [LTC].
The division is set to 24.4% XRP, 16.7% Ethereum, 5.2% Bitcoin Cash, 3% Litecoin and the rest will be Bitcoin. The annual management fee for the ETP is 2.4%. Additionally, it is unclear on which fork of BCH they will be opting for since the fork took place earlier this week. The fork has resulted in the network splitting into two, commonly known as BCHSV, which is an upgrade from nChain’s Craig Wright and Coingeek, and BCHABC, which is an upgrade from Bitcoin ABC and Bitmain.
Co-founder and CEO of Amun, Hany Rashwan stated that the exchange-traded product is formed in a way that it meets the standards which are set for a traditional ETP that is extensively opted by the investors. He further added:
“The Amun ETP will give institutional investors that are restricted to investing only in securities or do not want to set up custody for digital assets exposure to cryptocurrencies. It will also provide access for retail investors that currently have no access to crypto exchanges due to local regulatory impediments.”
Dag1975, another Redditor said:
“This might encourage the SEC to allow an American ETF. The rest of the world doesn’t wait for US regulators.”
Cryptolicious501, another Redditor said:
“Well if 50% to 60% investors grew a pair and said fck the SEC the bull run would begin… its as simple as that. The fact that the SEC has almost all investors cowering in the corner, “P-p-please, master… SEC when?” bespeaks volumes of investor psychology or lack there of. :/”
The post Switzerland approves the very first cryptocurrency ETP includes Bitcoin, Ethereum, XRP, Bitcoin Cash and Litecoin appeared first on AMBCrypto.
Source: AMB Crypto

Dominance of XRP over Ethereum [ETH] isn’t new; gap in market caps broadens

In the month of October, a report published by Bloomberg Galaxy Crypto stated that XRP is weighed more than Ethereum by 1.08%. This was shown by the Index Constituent Weights included in the report. Furthermore, XRP was also noticed to weigh only 6% less than Bitcoin [BTC].
Index Constituent Weights | Source: Bloomberg Galaxy Crypto
Earlier this week, CoinMarketCap, the online portal that aggregates cryptocurrency-related data finally showed XRP overtake Ethereum [ETH] when the coin moved up by a spot to push down Ether. At first, the market caps of both the coins were at par, vying for the second spot. However, this time, XRP sustained its position and left its competition behind.
At the time of writing, Ethereum is trading at $174 with a market cap of only $17.9 billion, after hitting below $200 a few days ago. The coin lost its glory when the market cap started to diminish from $22 billion [approx.]. Ether is currently down by over 2% amidst the bearish crypto-market.
ETH 7-day price and market cap | Source: CoinMarketCap
Simultaneously, the market cap of XRP continued to appreciate, widening the gap between the two coins and making it difficult for Ethereum to reclaim its lost glory.

At press time, XRP is the only token riding the bull. The token is up by 1.6%, trading at $0.47 with a market cap of $19.3 billion. The total 24-hour trading volume is recorded at $535.2 million.
In a Twitter post released regarding the cryptocurrency report by xrp_news, a fan channel for the XRP community, RevoluXn, a crypto-follower wrote:
“And this was back in October! Imagine what it will be next month.”
Axe Slinger, another Twitter user and a blockchain space follower also commented:
“Interesting that it’s only 6% below BTC when XRP marketcap isn’t nowhere near 6% less than that of BTC. Meaning they aren’t simply looking at marketcap or consider marketcap irrelevant. Great find!”
The post Dominance of XRP over Ethereum [ETH] isn’t new; gap in market caps broadens appeared first on AMBCrypto.
Source: AMB Crypto

XRP rockets by 10%; Ethereum [ETH] left behind as the gap between coins broaden

As the cryptocurrency market takes off from the bear market, XRP appears to be way ahead of the curve. Earlier this week, XRP overtook Ethereum [ETH] when it surpassed the latter’s market capitalization.
In the course of two weeks, XRP has slashed ETH twice to claim the second spot. Only this time, the damage for Ethereum seems permanent as the market caps between the two broadens every day.
At the time of writing, XRP has taken a steep upturn of 10%, trading at an appreciated price of $0.51 with a market cap of $20.6 billion. The total trading volume of the token in the past 24 hours is recorded at $729.4 million.

In the 1-hour candlesticks, XRP also broke the earlier resistance by a small figure. In the last 1-hour candle, the previous resistance set at $0.51 will also be broken if the candle closes above $0.52.
For this XRP rally, the maximum trading volume is hailing from Binance, the leading cryptocurrency exchange in the world. The trading volume is contributed by two pairs on Binance, XRP/BTC and XRP/USDT, which together add up to $119.4 million.
The Japan-based exchange, Bitbank is also catching up in contributing to the trading volume of XRP, wherein the pair XRP/JPY is alone being traded heavily on the exchange. The trading volume of this pair is recorded at $103.1 million.
This price hike could be associated with the success of Ripple, XRP’s parent company, in the FinTech industry. As the leaders of Ripple travel around the globe and hold talks with the institutions that matter, it is reflecting on the XRP ecosystem in the most profitable ways.
Recently, Brad Garlinghouse, the CEO of Ripple conducted a both-ways interview session with Ross Leckow, Deputy General Counsel, International Monetary Fund. At the Singapore FinTech Fest 2018, the two discussed the remittance space and its advancement through blockchain in detail and the regulatory framework required to facilitate the change.
The post XRP rockets by 10%; Ethereum [ETH] left behind as the gap between coins broaden appeared first on AMBCrypto.
Source: AMB Crypto

Tron [TRX] surpasses Ethereum [ETH] in terms of dApp volume with 422 million transactions

On November 17, Justin Sun, the Founder and Chief Executive Officer [CEO] gave the Tron community another reason to celebrate. The Tron official stated that Tron had surpassed Ethereum [ETH] in terms of dApp volume.
Reports show that IDEX, which is the most successful dApp on the Ethereum network has a transaction volume of 2430 ETH transactions in a span of 24 hours. Tronbet, on the other hand, has over 422 million TRX transactions. Post the announcement, users on Twitter were quite excited:
Lucas, a Twitter user, stated:
“@kamagames @akuzn2 you must read this! #ethereum is outdated #tron is the future especially for online casino’s.”
NanCrypto, another fan of the cryptocurrency said:
“ I have said time and again that TRX will go up to the moon and Ethereum will be left behind in the dust. This event is more than enough proof that I was right.”
The dApp achievement comes in the wake of Tron accepting DAPPHOUSE to run as a Super Representative member. Justin Sun had stated that DAPPHOUSE is committed to researching and developing Dapp and “is providing a good solution and display platform for the operation of the applications.”
Back in September, Sun had even asked developers and users to stop deploying pictures on the Ethereum blockchain and instead shift to the Tron blockchain. In his words:
“Yes! Please stop deploying d-apps to Ethereum and migrate to #TRON network immediately! We are 100x faster than #ETH and fully compatible with #ethereum. We 100% guarantee better user experience!”
Tron had also made news recently when it was revealed that the total number of mainnet accounts on the Tron network had surpassed 600,000.
The post Tron [TRX] surpasses Ethereum [ETH] in terms of dApp volume with 422 million transactions 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
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

Ripple Secures More Banking Partners, XRP Holds Second Spot Over Ethereum

San Francisco based blockchain company Ripple has secured another major banking partner in Asia this week. ASEAN’s fifth largest bank, CIMB Group, as announced that it will join RippleNet in order to utilize the firm’s cross border transfer products. Its XRP token meanwhile has held on to second spot over Ethereum.
RippleNet Expands it Reach
The move will allow the bank to grow its global payments network by joining those already in the Ripple network. According to the announcement CIMB is one of the first banks in Asia to leverage blockchain technology. In a region where micro-payments and remittances drive the bulk of banking transactions the need for more efficiency and cost reduction has never been greater.
According to the World Bank, remittances in the region will grow to $120 billion this year. The Boston Consulting Group added that the global cross border payment volume is an estimated $27 trillion with a further $20 trillion expected to be added in the coming decade. The ASEAN region is responsible for almost 40% of this entire volume.
CIMB already has its own remittance platform called SpeedSend so the partnership with Ripple is designed to enhance that and further improve the speed and costs of cross border payments. CIMB Group chief executive, Tengku Dato’ Sri Zafrul Aziz said;
“We are delighted to be part of RippleNet and look forward to a fruitful partnership with Ripple by leveraging each other’s strengths and capabilities. This innovative blockchain solution will revolutionize international cross-border remittances, and is a testament to CIMB’s ongoing efforts to enhance its digital banking proposition …”
Ripple boss, Brad Garlinghouse, commented “CIMB’s network already spans 15 countries, nearly 800 branches and offers Speedsend — one of the best solutions in the ASEAN region. Now, by integrating Ripple’s blockchain technology, they will enable their customers to send vital funds to family, friends and loved ones more efficiently.”
XRP Holds Second Spot, Accelerates Away From Ethereum
Ripple always maintains that the company and token are not connected but what happens to one will obviously have an effect on the performance of the other so this sentiment can be refuted. Besides, the company still holds a very large slice of the XRP pie. In the aftermath of crypto market’s largest crash of the year, XRP emerged above Ethereum, taking second place in the market cap charts.
When this has happened previously, Ethereum recovers quickly and retakes its spot. This time, however, that recovery has not occurred and XRP has made better gains keeping it above ETH. At the time of writing XRP is up almost 5% on the day whereas Ethereum has only made just over 1%. As a result XRP’s market capitalization has increased to $19.3 billion whereas Ethereum’s is now $18.6, widening the gap since yesterday when they were only $200k apart.
If there is no further momentum for Ethereum it may have to settle for being the world’s third largest cryptocurrency as XRP moves ahead of it.
The post Ripple Secures More Banking Partners, XRP Holds Second Spot Over Ethereum appeared first on NewsBTC.
Source: New