Monero [XMR]’s Riccardo Spagni: BAT is lot more centralized than they purport it to be

Monero’s lead developer, Riccardo Spagni aka fluffypony, spoke about Basic Attention Token [BAT], elucidating why he considers it to be centralized in the latest episode of Magical Crypto Friends.
Basic Attention Token is the digital currency used for rewarding content publishers and users for paying attention to the content, a break-through in the digital advertising sector. This also provides advertisers with more in return for their advertisements. For the very same purpose, Brave Browser browser monitors the users’ attention, while ensuring that the data does not leave the users device.
However, the Spagni stated it has a loophole on Twitter:
“I just found out that BAT has a nice loophole that lets them steal funds from users. Permissionless scamovation indeed! […] Users are NOT going to go & buy BAT when their airdropped tokens run out, no matter how slick. There’s simply too much friction. Consider what happens RIGHT NOW when most people hit a paywall: do they (1) disable their ad blocker, (2) pay the publisher, or (3) just close the tab?”
This was followed by a Twitterati, Patrick, stating that the BAT ecosystem is designed to work in manner wherein the advertisers purchase the tokens and then use them to buy advertising space on the browser. He further stated that users will earn 70% share of the revenue if they agree to view the ads, adding that they will be paid in BAT for their attention and can tip this BAT to their preferred content producers.
To which, Spagni said:
“I understand that part of it, and I think it’s safe to disregard it as (1) it’s going to be gamed making it a race to the bottom for ordinary users, & (2) very few people want to see a plethora of ads even if they’re getting paid. I also think the browser lock-in is shortsighted.”
To counter this statement, Patrick attached a tweet of Brendan Eich, the co-founder and CEO fo Brave, wherein he has remarked that Brave uses Uphold for KYC/AML process, which is required for users to be able to withdraw their funds. This is so that “the threat is DoS not theft by fraud”.
The founder added that they make use of Proof of Browsing and “buffering on the device and in a settlement, allowing anti-fraud/Sybil attack analysis and BAT claw-back”.

In the episode, Spagni stated that he found it interesting that it is “a lot more centralized than they purport to be”, adding that this is true when it comes to a lot of dApps. He further stated:
“So I was having this debate on Twitter with a bad show and I said okay but that’s gonna be gained at some point you know someone’s gonna figure out the heuristics and they’re gonna have like right a bunch of bots that are gonna be indistinguishable from real humans […] it’s going to appear to be real browsing and they’re gonna airdrop these tokens onto them”
Following this, Spagni spoke about Proof of Browsing, which will determine whether the ‘attention’ is true or not, whether it is a  human or a bot, and callback if a person is taking advantage of the system. The developer stated that if a user fails to complete the KYC/AML process and Proof of Browser, then the money is taken back from the user.
“I mean it’s not it’s not yours yet because you haven’t withdrawn it, is their theory but at the end of the day that’s no different from a database because you know they’re controlling everything, they’re controlling the influx of supply into the market, they’re controlling whether or not somebody legitimately earns that […] but the reality is it’s a centralized system”
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Source: AMB Crypto

Bitcoin SV [BSV] down by 6% as token bleeds red; Monero [XMR] sees 20% dip over the week

The past week has been full of surprises for the cryptocurrency market. From coins constantly shuffling ranks, the market has mostly bled red. Bitcoin SV [BSV] and Monero [XMR] have suffered the most among the top coins. BSV drove the bull race the past week, while XMR remained an observer on the twelfth position.
Source: CoinMarketCap
At the time of press, BSV, the eighth-largest cryptocurrency, was valued at $92.86 with a market cap of 1 billion. The 24-hour trade volume of the coin was $57 million and had registered a mere growth of 0.08% in the past hour at the time of reporting. The coin had plunged by 6.40% in the past 24 hours.
According to the trading volume, the highest 24-hour trade volume was registered by GDAC with BSV/KRW pair. The 24-hour trade volume was reported to be $15 million. Similarly, BitMart was at the second and the third position, with a trading volume of $7.43 million and $7.12 million with BSV/USDT and BSV/BTC pairs, respectively.
Monero, the twelfth ranking coin on the CoinMarketCap list, was valued at $44.25, with a market cap of $736 million. The coin registered a 24-hour trade volume of $13 million and had seen a miniscual growth by 0.49%. However, over the past 24 hours, the coin plunged by 6.36%.
According to the maximum trade volume, Bithub registered a trading volume of $712 million with XMR/KRW. Bithumb was followed by Binance, which reported a trading volume of $2 million with XMR/BTC pair. The third in line was Exrates, with a trading volume of $1 million with XMR/BTC pair.

 
BSV, after driving a bull race, seemed to slow down, but had not exactly fallen prey to the bear. The coin reported a fall of 0.18% in the past seven days.
However, XMR has been red for the past few weeks. At the time of press, the coin had registered a fall of more than 20% in the past seven days.
The post Bitcoin SV [BSV] down by 6% as token bleeds red; Monero [XMR] sees 20% dip over the week appeared first on AMBCrypto.
Source: AMB Crypto

Crypto Market Update: Monero (XMR), Bitcoin SV, Tron (TRX), ADA Price Analysis

Key Points

The total crypto market cap extended declines below $107.00B and it could slide further.
Monero (XMR) price is under pressure below $50 and it could test $40.
Bitcoin SV price is declining towards the $90 support level.
Tron (TRX) is stable above the $0.0130 support level.
Cardano (ADA) price is down more than 3% and is testing the $0.0300 support level.

Bitcoin SV is struggling to recover above the $100 handle. Monero (XMR), Tron (TRX) and Cardano (ADA) are down and they could continue to decline in the short term.
Bitcoin SV Price Analysis
After a push above the $100 handle, bitcoin SV failed to hold gains and declined below the $98 and $95 support levels. The price is down around 7% and it seems like it may test the $90 support level. If there are more losses, the price may even test the $88 level.
On the upside, key hurdles are near the $98 and $100 levels. As long as the price is below $100, bitcoin SV is likely to extend losses in the coming sessions.
Monero (XMR), Tron (TRX) and ADA Price Analysis
Monero price declined heavily recently after it broke the $50 support level. XMR is down around 6% and it may continue to slide towards the $42 or $40 support levels. On the upside, the main resistance is at $50, above which the price could climb higher.
Tron price is currently flat near the $0.0135 level. On the downside, an initial support is at $0.0130, followed by the key $0.0120 level. On the upside, TRX buyers need to clear the $0.0150 resistance for a decent recovery.
Cardano price is still holding the $0.0300 support level. If ADA sellers gain pace below $0.0300, there are chances of heavy losses towards the $0.0285 and $0.0280 support levels. Resistances are at $0.0315 and $0.0320.

Looking at the total cryptocurrency market cap hourly chart, there was a rejection near the $113.00B level. The market cap declined recently below $110.00B and $108.00B, and it is currently near a major bullish trend line with support at $105.00B, below which the next stop could be $100.00B. Therefore, there are chances of more losses in bitcoin, Ethereum, ADA, ripple, tron, XLM and other altcoins in the next few hours.
The post Crypto Market Update: Monero (XMR), Bitcoin SV, Tron (TRX), ADA Price Analysis appeared first on NewsBTC.
Source: New feedNewsBTC.com

Big Brother Will Now Watch Your Zcash and Monero Transactions

CoinSpeaker

Big Brother Will Now Watch Your Zcash and Monero Transactions

The U.S. DHS wants to track Zcash and Monero transactions with a view to prevent illegal activities performed with the help of these coins.

Big Brother Will Now Watch Your Zcash and Monero Transactions

Continue reading at Coinspeaker
Source: CoinSpeaker

US Government Aims to Make Privacy Coins’ Use Case Obsolete

A branch of the United States Department of Homeland Security (DoHS) is researching the possibility of using blockchain forensic analysis tools to better trace privacy coin transactions.
Privacy No More: US Government Preparing Forensic Analysis Tools
Among the biggest concerns surrounding cryptocurrencies like Bitcoin are fears that the emerging technology could facilitate money laundering by rogue countries, terrorist organizations, and cybercriminals.
However, the United States government has increasingly bolstered their ability to trace blockchain transactions, and have even learned how to track Bitcoin transactions back to the source and identify the wallet holder, as was the recent case where the U.S. Treasury sanctioned two men from Iran over their involvement in ransomware attacks.
Related Reading: Iran Is Prepping National Crypto to Evade US Sanctions
Next on the government’s agenda, is to begin looking into privacy-focused cryptocurrencies, such as Dash, Zcash, Monero, and more.
According to a pre-solicitation document published by the DoHS’s Small Business Innovation Research Program. The document, discovered by The Block, the U.S. government is allegedly investigating ways to better track transactions on the blockchains of the aforementioned privacy coins.
The report does speak positively about some of the aspects of privacy coins, but calls attention to transactions of “illegal nature” that occur using said cryptocurrencies. The eventual goal is to build out a platform that law enforcement agencies, government branches, and even private financial institutions can use to analyze and enforce important anti-money laundering laws.
Since the document is just a pre-solicitation, the notice is “merely an opportunity for interested parties to comment on or request information about the attached topic areas,” and doesn’t mean that the government already has such tools in its possession. It does, however, prove that the DoHS has concerns over privacy coins and their potentially illegal usage.
Japan Bans Privacy Coins, Will the United States Follow?
Zcash, Dash, Monero, and many other privacy-focused cryptocurrencies allow users to hide transaction and address data from anyone outside of the sender and receiver.
Monero is the cryptocurrency of choice for most cryptojackers as cybercriminals are able to easily hide their tracks. Monero has also unseated Bitcoin as the most-used cryptocurrency on the dark web, so it’s no surprise to see that the United States is joining Japan in addressing concerns around privacy coins.
Related Reading: Japan’s FSA Grants Self-Regulatory Status to Crypto Industry
In Japan, where cryptocurrency-related theft has skyrocketed, the Financial Services Agency (FSA) has imposed a ban against any cryptocurrency exchanges in the country from offering privacy coins. The ban took effect this past June, and the ripple effect is just now reaching the United States.
Coincheck, which suffered the largest cryptocurrency exchange hack in history at the start of this year, was among the exchanges that were forced to comply with the FSA’s ban, and removed Monero, Dash, Zcash, and Augur’s Reputation coin.
Featured image from Shutterstock.
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Monero [XMR]’s lead developer speaks about Bitcoin [BTC] as a real alternative to fiat currency

Riccardo Spagni aka fluffypony, a core developer of Monero spoke about Bitcoin’s bear market recovery and its volatility, during an interview with Tech Central. He also spoke about the use case of Bitcoin [BTC].
Riccardo was asked about the recovery of the cryptocurrency space from the bear market, taking into consideration that the space is much more compressed in comparison to NASDAQ’s recovery time. To this, he agreed that the space is compressed and for Bitcoin to recover back to $1200, which was set in December 2013, it took over three and half years. He went on to say:
“It’s very good time and previous movements have been much faster. You know, some of them have been two months. So, you know, three and half years has been like the longest bear market that we’ve had and I think those periods will probably start to get longer and longer as you know as the thing the movement shifts”
Nonetheless, the developer stated that the halving of Bitcoin’s block reward every four years is a factor that is absent in the stock or equities market. He added that the change in the amount of Bitcoin’s supply is “really interesting” because the reduction in supply will have an effect even if the demand stays constant. Spagni further added:
“You’ve got this reduction in supply and you know again even if demand stays static you’ve got people going like, ‘I’m not going to sell my coins. I’m going to hodl them’, because of the hodl mentality. And if they hold on to their coins and they don’t sell them, then that basically just reduces the effective supply even more.”
Due to this, he stated, there is a constant “hammering down” on the new supply and the existing supply, and irrespective of whether the demand stays constant or increases, there is going to be volatile movement and the upward pressure on the overall market.
This was followed by Spagni speaking about Bitcoin’s adoption as a means of transaction. He stated that as traders start to bridge the gap through arbitrage trading, the market is going to see “some” stability, adding that this could happen between a timeframe of 5 to 15 years. He went on to say:
“I think we’re probably like anything from 5 to 15 years from going okay Bitcoins price is relatively stable or atleast doesn’t have these wild swings like a teenager throwing a tantrum. We’ll see like when we get to that, then makes a lot more sense to Bitcoin operate like a currency than it does not”
Spagni added that Bitcoin will be a real alternative to fiat currency when it comes to buying a cup of coffee in the next 10-15 years. He stated:
“But as a settlement option, then I think that’s very different. So you know settlement could be I’m buying stock from overseas and importing it and I need to pay my suppliers. My suppliers don’t care that much about volatility because the volatility tends to happen over you know several day period. So if I paid them and they converted immediately from Bitcoin to the local fiat currency than what differences make Bitcoin just becomes a carrier for that settlement”
He went on to say that once Bitcoin is used to pay salaries, rent and taxes, it will become a lot more powerful than it is at present. According to Spagni, this could help in the currency’s price discovery.
The post Monero [XMR]’s lead developer speaks about Bitcoin [BTC] as a real alternative to fiat currency appeared first on AMBCrypto.
Source: AMB Crypto

Monero [XMR]’s Riccardo Spagni: Bitcoin [BTC] is still trying to figure out its price

Riccardo Spagni aka fluffypony, a lead developer of Monero spoke about the ongoing bear market, which has been ravaging the entire space, during an interview with Tech Central. He also spoke about whether this bear market is similar to the previous ones.
Riccardo started by stating that this is his fifth bear market in the cryptocurrency space, remarking that he is accustomed to the bear’s refuge and added that it’s not surprising anymore. He further stated:
“I think if you if you’ve been in the space for a short amount of time and this is your first bear markets which is entirely possible given that the last bull run before this one was 2013. So anyone who came in after 2013 would have entered during the bear markets and then would have seen a bull run till $20,000. If this is your first crash, then you are going to go like, oh oh no, the sky is falling!”
Investors, who have witnessed the bear market for the fifth time, start to see a trend, he added. However, this trend, according to him, is not unique to Bitcoin or cryptocurrencies and it often occurs in the stocks market wherein a stock reaches it’s all-time high and is followed by crash because of a scandal or market sentiments. Nonetheless, when this takes place, the price settles above the previous all-time high and when the bull race takes place again, it breaches its previous highs, Spagni stated.
Furthermore, the developer was asked whether history is repeating itself. To which, he agreed, stating that Bitcoin is still trying to figure out its price or the market is trying to figure out the price for Bitcoin. He said:
“[…] I mean, we’re several decades away from that [block reward] dropping down to a value that is so insignificant that fees are greater then the block reward”
Taking this into consideration, Bitcoin continues to be the currency with relatively high inflation rate, which is the reason the price discovery is hard, he stated. Spagni further added:
“So, you’ve got a high rate of inflation, you’ve got this massive volatility because there’s irrational exuberance and everyone thinks they’re getting rich and so because of that, you’re going to have highs and lows and the swings are going to be extreme.”
However, he stated that Bitcoin’s price discovery will happen on a macro time scale i.e., in the next 10 to 20 years time span. This was followed by him stating that the price is certainly not going to be $3500 or $4000, adding that it is going to settle “much higher” as the inflation would drop down, making the utility of the biggest cryptocurrency more apparent.
The post Monero [XMR]’s Riccardo Spagni: Bitcoin [BTC] is still trying to figure out its price appeared first on AMBCrypto.
Source: AMB Crypto

Monero [XMR/USD] Technical Analysis: Bull has abandoned privacy coin in bear’s realm

Monero [XMR], the most popular privacy coin in the market, which found its happy place in the dark web lost its 10th position. This is the result of Bitcoin SV’s entry into the top 10, with over 83% gain in the past seven days. The privacy coin is currently placed in the eleventh position.
According to CoinMarketCap, at press time, Monero is trading at $53.51 with a market cap of $888.38 million. The coin has a trading volume of $19.77 million and has plunged by over 4% in the past 24 hours.
One hour:
Monero one-hour price chart | Source: Trading View
In the one-hour chart, Monero pictures a downtrend from $69.96 to $60.48. The chart further pictures the cryptocurrency go through a steep fall from $60.48 to $55.73. The coin also demonstrates a short uptrend from $53.65 to $54.49, further up to rest at $55. It has an immediate resistance at $55.72 and a strong resistance at $60.50.
Parabolic SAR shows that the coin is currently stomped by the bear as the bear has aligned on top of the candlesticks.
Bollinger Bands is predicting a less volatile market as the bands have started to come close to each other.
Chaikin Money Flow is also forecasting a bearish weather as the line has crossed below the zero line, demonstrating that the money has started to flow out of the market.
One-day:
Monero one-day price chart | Source: Trading View
In the one day chart, the chart shows a downtrend from $203.52 to $114.07. It also pictures another downtrend from $84.20 to $54.40. The coin has an immediate resistance at $90.51 and a strong resistance at $147.58.
MACD is showing a bearish wave as the moving average line has made a bearish crossover.
RSI is also demonstrating a bearish trend as the coin’s selling pressure is overpowering the buying pressure in the market.
Klinger Oscillator is on the same page as that of MACD. as the reading line has made a bearish crossover.
Conclusion:
The bull has abandoned the coin in the bear’s realm. The coin is supported by Parabolic SAR and CMF from the one-hour chart and MACD, RSI and Klinger Oscillator from the one-day chart, in the bear’s kingdom.
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Source: AMB Crypto

After Bitcoin, terrorists now use Monero, Verge and DASH for fund raising says Ex-CIA agent

Yaya J. Fanusie, an ex-CIA agent, spoke about how terrorists are diversifying their financing with the help cryptocurrencies during a recent event.
Fanusie said that cryptocurrencies might become the normal way of transacting in the near future but with this advent, it might also become an “illicit financing toolkit” for the terrorist.
He added:
“CSIF has documented multiple jihadist cryptocurrency fundraising campaigns on social media cryptocurrencies…but the good news is that most terrorists particularly those operating on jihadist battlefields inhabit environments that are not currently conducive to cryptocurrency use.”
The ex-CIA analyst highlighted an incident where a jihadist funding campaign called Al-Sadaqa [for the charitable living] was claimed to be raising Bitcoin as funds for fighters in Syria. He said that this group was using social media channels to raise awareness among its users to donate anonymously using Bitcoin. He added:
“The group encouraged followers to purchase Bitcoin vouchers from website that took payment in Euros, the group hosted sites where supporters could use Bitcoin ATMs to buy cryptocurrencies so clearly the campaign organizers were trying to make the Bitcoin process easier for novices.”
Furthermore, Fanusie said that the group diversified from Bitcoin to other cryptocurrencies. According to Fanusie:
“The group’s most significant adaptation was eventually branching out beyond Bitcoin by early 2018, the group posted on Telegram that they were accepting cryptocurrencies like Monero, Verge and Dash.”

This is significant because tokens like Monero are privacy coins and the transactions are almost untraceable. These cryptocurrencies provide the users with features to hide their transactions from the general public, unlike Bitcoin, whose transactions are open and viewable by the general public.
Fanusie continued:
“The above case clarifies that some terrorist organizations are looking to add cryptocurrency donations to their funding streams…this means that if public cryptocurrency adoption increases, terrorist groups will probably begin to transact more in digital tokens.”
The Director of Analysis for the Foundation for the Defense of Democracies’ Center on Sanctions and Illicit Finance, said that people usually purchase or transact cryptocurrencies using exchanges, so he urged financial authorities to engage with exchanges to keep bad actors and terrorists from such platforms.
The post After Bitcoin, terrorists now use Monero, Verge and DASH for fund raising says Ex-CIA agent appeared first on AMBCrypto.
Source: AMB Crypto

Monero [XMR/USD] Technical Analysis: Bear continues to loom over the market despite bull’s efforts

Monero [XMR], the tenth-biggest cryptocurrency by market cap, has been doing relatively well today, in comparison to other coins in space. The coin successfully managed to dodge most of the bear’s bullets and managed to glow green along with Tron [TRX], Bitcoin Cash [BCH], and Dash.
According to CoinMarketCap, at press time, Monero is trading at $65.35 with a market cap of $1.08 billion. The coin has a trading volume of $13.08 million and demonstrates a downfall of 24.06% in the past seven days.
One-hour:
Monero one-hour price chart | Source: Trading View
In the one-hour chart, the cryptocurrency demonstrates a downtrend from $90.15 to $69.96 and further slumped to $67.78. It has an uptrend from $65.03 to $66.50. The coin has an immediate resistance at 69.98, after which the next stop level is at $71.85. It has a strong resistance point at $76.84. Monero demonstrates an immediate support at $64.59 and a strong support at $63.64.
Chaikin Money Flow pictures the coin running towards the bull’s realm as the money has started to flow into the market.
Nonetheless, Parabolic SAR is dragging the coin back to the bear’s kingdom as the dots have aligned above the candlesticks.
Bollinger Bands shows that the bands have started to expand in the market, predicting a volatile market for the coin.
One-day:
Monero one-day price chart | Source: Trading View
In the one-day chart, Monero pictures a downtrend from $203.52 to $114.07. It also shows a steep downtrend from $84.20 to $66.07. The chart shows that the coin has not formed a significant uptrend since its plunge in the market. It has an immediate resistance at $114.24 and a strong resistance at $147.44. The coin is currently trading close to its support level, which is set at $65.94
RSI shows that it is cradled by the bear as the selling pressure is more for the coin than the buying pressure.
MACD is also resting in the bear’s kingdom as the moving average line crossed over to take the route downhill.
Klinger Oscillator is along side MACD as the reading line made a crossover to go below the signal line.
Conclusion:
The bear has managed to keep RSI, MACD and Klinger Oscillator from the one-day chart, and Parabolic SAR from the one-hour chart. Nonetheless, the bull is trying draw the attention of CMF from the one-hour chart.
The post Monero [XMR/USD] Technical Analysis: Bear continues to loom over the market despite bull’s efforts appeared first on AMBCrypto.
Source: AMB Crypto

Lead Monero Dev Slams BAT Policies, Brave Founder Clarifies

The lead developer for Monero slammed BAT over its policies and “awful design decisions,” putting Brave founder Brendan Eich on the defensive.
Monero Dev Compares BAT to The Mafia
Monero frontman Ricardo “fluffypony” Spagni took to Twitter on Thanksgiving not to give thanks, but to give Basic Attention Token (BAT) a verbal beating, comparing the utility cryptocurrency token developers to “the mafia.” The heavily opinionated developer also called BAT “centralized, permissioned, and thus entirely disinteresting and better done with a database instead of a blockchain.”
Spagni’s comments come after he discovered a “loophole” that allows BAT devs to “steal funds from users.” “The BAT ToS let’s them steal ‘unclaimed’ tokens after 90 days, but they can also use ‘Sybil attack investigation’ and KYC/AML excuses to prevent you from claiming your coins for 90 days,” he alleges.
He asserts that Brave features an overly complicated AML/KYC process disguised as a backdoor, allowing them to hold BAT tokens hostage that were initially intended for content creators.
Brave’s Eich Responds, Clarifies BAT Clawback
While Spagni is only looking out for cryptocurrency investor’s best interests, his comments are exceptionally accusatory and negative despite BAT creator and founder of the Brave browser Brendan Rich’s track record of success in creating game-changing internet technologies. Eich first’s contribution to the world was his development of the JavaScript programming language, and after that he co-founded Mozilla – the company behind the Firefox browser best known for its privacy features.
Eich explains that certain countermeasures are required to prevent “hundreds to thousands of fraudulent users” from accepting grants from Brave’s  User Growth Pool (UGP) and forwarding it to fake content creators. The UGP is designed to grant users with BAT tokens who are encouraged to tip content creators and plant the seeds of the content monetization platform Brave ultimately intends to be.
As for “stealing” BAT, Eich refutes the claim, and clarifies that Brave can only clawback BAT tokens granted from the UGP that go unused – a user’s imported BAT cannot be accessed in any way. “We’re not going to hold a potential grant in limbo forever waiting for it to be used,” Eich explained. The firm makes this clear to users up front, and shows an expiration date on the unused funds. He also clears the air around his company’s access to BAT holdings rightfully owned by individual users. “The only person who can move BAT from a wallet is the person who has that wallet’s key. If we’re talking about BAT that you own, Brave doesn’t have the key,” Eich said in an interview. “There’s nothing we can do to touch your BAT. BAT in a wallet you control cannot be ‘confiscated.’ KYC has nothing to do with this fact, and in any event, user-provided wallet KYC is not yet implemented.”
Related Reading: Basic Attention Token Nosedives 20% Amidst SEC Crackdown Concerns
BAT has been a hot topic amongst the cryptocurrency community as of late, as the utility token was recently listed on Coinbase and saw rapid price gains that eventually turned into losses as concerns mounted around ERC20 tokens like BAT. Last month the operator of decentralized ERC20 trading platform EtherDelta was charged with operating an unregistered securities exchange. Fears over ERC20 tokens being deemed a security by the Securities and Exchange Commission led to a sell off of the Ethereum-based token.
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Cryptocurrency Market Update: No Recovery From Recent Rout

FOMO Moments
Markets are still flat showing no sign of recovery; Monero, Iota and Bitcoin Gold making small gains.
The weekend situation on crypto markets remains grim. There has been no recovery from an epic dump down to a new yearly low yesterday as total market capitalization is still around $140 billion.
Bitcoin has clawed back a couple of percent on the day to take it to $4,360 after dumping to a new low of $4,195 yesterday. The predictions are not pretty however and many expect BTC to drop to $3,000 in the coming months. Ethereum has made no recovery and is still at its lowest level for 18 months, trading at $125.
Altcoins are largely green today as they small gains from a huge loss over the week. In the top ten Monero is making the most headway as it adds 4% to take it to $66, Bitcoin Cash has also managed to pull 3% back on the day. The rest are up a percent or two aside from XRP which hasn’t moved.
There are a couple of movers in the top twenty right now, Iota is adding 6% but it is still at a very low level of $0.322. Bitcoin Gold has made it to $20 with an 8% gain on the day and Neo has made almost 5% back. These gains are very insignificant however as most altcoins have lost as much as 40% over the past week or so.
There are only three cryptos with double digit gains in the top one hundred during the Asian trading session this morning. Revain is getting some fomo with a 19% pump, Bitcoin Diamond and Nexo are also performing well at the moment with 16 and 12 percent gains respectively. At the messy end of things is ODEM dumping 15% on the day.

At the time of writing total crypto market capitalization was $140 billion which has climbed 1.5% since its all-time low for the year of $136 billion yesterday. Over $40 billion has been lost since last weekend resulting in a 23% market slide. On the month markets have shrunk by a third as $70 billion has left the space.
Bitcoin’s dominance is creeping up towards 54% as all of the altcoins keep bleeding. Further losses look likely as Bitcoin finds its bottom, the crypto winter is far from over.
FOMO Moments is a section that takes a daily look at the top 20 altcoins during the current trading session and analyses the best performing ones, looking for trends and possible fundamentals.
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Source: New feedNewsBTC.com

Bitcoin Cash [BCH], Monero [XMR] and Tron [TRX] ride the bull wave after the longest time

On November 22, some cryptocurrencies in the market saw a reprieve from the prolonged bear attack with small spikes in prices. Bitcoin Cash [BCH], Monero [XMR] and Tron [TRX] all saw green while the other major cryptocurrencies in the top 10 club still crumbled under the bear’s wrath.
Bitcoin Cash [BCH], which underwent a hard fork to form two different tokens, had suffered the worst end of the stick in terms of price till today. At press time, BCH was going up by 3.06% with a market cap of $3.604 billion. The cryptocurrency was trading for $206.25 with a 24-hour market volume of $106.38 million.
A majority of the BCH trade volume was held by Upbit, with a total grasp of $27.574 million. Upbit was closely followed by Binance, which encompassed $10.072 million of the entire Bitcoin Cash trade volume.
Bitcoin Cash 24-hour chart | Source: CoinMarketCap
Another cryptocurrency in the top ten club that was enjoying a sudden bull run was Monero [XMR], which was gaining by 3.03%. The cryptocurrency was trading for $66.64 with a total market cap of $1.105 billion. A majority of the cryptocurrency’s $13.880 million trade volume was held by Bithumb, on which trades worth $80.227 million took place. Second to Bithumb was Binance, which dominated $1.982 million of all XMR trade.
Monero 24-hour chart | Source: CoinMarketCap
Tron [TRX], which has been on quite the announcement roll, seems to have reaped dividends from it, going up by 2.44%. The cryptocurrency was trading for $0.0138 with a market cap of $907.706 million. Tron also held a 24-hour market volume of $52.573 million which was majorly split between Binance and OKEx.
Tron 24-hour chart | Source: CoinMarketCap
Tron was recently in the news earlier when the Foundation announced that Kobe Bryant, former NBA superstar, will be speaking at niTron, the first blockchain event held by the Foundation, as a guest speaker. Justin Sun had stated:
“Kobe Bryant is a basketball genius. I have been a huge fan of Kobe and deeply inspired by his journey. It’s my great honor to have Kobe as our special guest for the niTron Summit. It’s worth mentioning that Kobe Bryant is not only a basketball genius but also an investment genius. We look forward to hearing his great speeches at the summit.”
The post Bitcoin Cash [BCH], Monero [XMR] and Tron [TRX] ride the bull wave after the longest time appeared first on AMBCrypto.
Source: AMB Crypto

Monero [XMR/USD] Technical Analysis: Coin breaks all supports and enters free fall

Monero [XMR], the tenth biggest cryptocurrency by market cap, broke all its support earlier today. The coin, which is particularly popular in the dark net, has lost more than half its value since it hit its all-time high. The privacy coin is not the only one which hopped on to the bear’s bandwagon, it was joined by Bitcoin [BTC], the king of the market, Ethereum [ETH] and Litecoin [LTC].
According to CoinMarketCap, at press time, Monero is trading at $65.18 with a market cap of $1.08 billion. The coin has a trading volume of $15.14 million and has plunged in the market by 4.77% in the past 24 hours.
1 hour:
Monero one-hour price chart | Source: Trading View
In the one-hour chart, the cryptocurrency demonstrates a downtrend from $90.15 to $68.80 and further slumps to $66.80. It also has an uptrend from $64.73 to $66.40. The coin shows an immediate resistance $71.84 and a strong resistance at $76.83. The chart indicates that the coin has a strong support at $63.63.
Chaikin Money Flow is demonstrating that the money is flowing out of the market, as the line is well-below the zero line. This indicates that the coin is currently bleeding because of all the wounds caused by the bear.
Bollinger Bands shows that the bands are expanding, making room for more price action. This shows that the market is going to be volatile from hereon.
Parabolic SAR is picturing a different tale by predicting that the bull has a chance to defeat the bear. This is because the dots have aligned below the candlesticks.
1 day
Monero one-day price chart | Source: Trading View
In the one-day chart, the privacy coin shows a downtrend from $147.46 to 137.90. It also shows a steep downtrend from $84.20 to $66.07. The downtrend for the coin is so strong that there was no room for it to make a significant uptrend. The cryptocurrency has an immediate resistance at $114.23 and a strong resistance at $124.65. The chart demonstrates that the coin has broken all the support levels and currently has no support.
RSI is indicating that the selling pressure for the coin is higher than the buying pressure, indicating a bearish trend.
MACD also shows a bearish trend as the moving average line is below the signal line.
Klinger Oscillator also agrees with the RSI and MACD, as the reading line is well-below the signal line.
Conclusion:
The coin is going to stay in the bear’s house for a long duration. It has decided to camp there due the pressure from CMF from the one-hour chart, and RSI, MACD, and Klinger Oscillator from the one-day chart.
The post Monero [XMR/USD] Technical Analysis: Coin breaks all supports and enters free fall appeared first on AMBCrypto.
Source: AMB Crypto

Monero [XMR/USD] Technical Analysis: Darknet coin slips into the dark side of the bear’s club

Monero [XMR], the tenth biggest cryptocurrency by market cap, has abandoned the bull to join the bear. The cryptocurrency has joined the club along with all the top cryptocurrencies such as Bitcoin [BTC], Ethereum [ETH], Bitcoin Cash [BCH], and Litecoin [LTC].
According to CoinMarketCap, at press time, Monero is trading at $68.30 with a market cap of $1.13 billion. The cryptocurrency has a trading volume of $16.98 million and has plunged by 21.48% in the past seven days.
1 hour:
Monero one-hour price chart | Source: Trading View
In the one-hour chart, the cryptocurrency has a downtrend from $90.15 to $70.70. The coin also pictures an uptrend from $66.28 to $70.21. The privacy coin has an immediate resistance set at $71.85 and a strong resistance at $76.81. It has a strong support at $66.24.
Parabolic SAR desires to join the bull’s club as the dots have aligned below the candlesticks.
Chaikin Money Flow is living extravagantly in the bear’s club, as it pictures that the money is flowing out of the market.
The Bollinger Bands are currently contracting, indicating that the market is going to be less volatile for the coin.
1 day:
Monero one-day price chart | Source: Trading View
In the one-day chart, the privacy coin shows a downtrend from $203.52 to $114.07. The coin continues to take the downward slope only to rest at $106.81. The coin also depicts an uptrend from $84.20 to $101.77, which continues till $105.45. The tenth-biggest cryptocurrency shows an immediate resistance at $119.26 and strong resistance $147.68. The coin has a strong support at $67.88.
Klinger Oscillator is in its happy place in the bear’s club, as the reading line is below the signal line.
The indicator was joined by MACD in the club, as the moving average line was below the signal line.
RSI showed the cryptocurrency is oversold in the market, picturing the crowd preferring the bear’s club.
Conclusion:
The cryptocurrency is resting in the dark side of the bear’s club with barely any light reaching out. The bear’s has let Klinger Oscillator, MACD, and RSI from the one-day chart to join to the club. It has allowed Chaikin Money Flow from the one-hour chart to join as well.
The post Monero [XMR/USD] Technical Analysis: Darknet coin slips into the dark side of the bear’s club appeared first on AMBCrypto.
Source: AMB Crypto