CME Bitcoin Futures Reports Record Volume, Is Institution’s Interest Rising?

On February 8th, Bitcoin has been changing hands at $3,400 only to take a surge to $3,662 level. For the next ten days, the Bitcoin price oscillated around $3,600 level. However, this week, Bitcoin took a hike of 10 percent and nearly reached $4k mark.
In tandem with the surge in Bitcoin price, the volume of Bitcoin Future on CME also took a significant hike as CME Group reported on Twitter,
“Surge in bitcoin price leads to record BTC futures volume on February 19 with over 18K contracts traded.”

The contract unit of CME Bitcoin futures is 5 Bitcoin and at $4,000 per Bitcoin rate, this amount to $360 million. CME Bitcoin futures are off to a good start as it beats the last record set on November 20, 2018.
Since the launch of futures contracts on December 17th, 2018, CME Group has had more than 21,000 accounts trading the Bitcoin futures contracts. This investment vehicle provides the investors with an opportunity to bet on the future price of Bitcoin and go long or short on it.
However, the volume has yet again taken a dip as Bitcoin price didn’t surge further rather went red as it has been trading at $3,957 with 24-hours loss of 0.72 percent, at press time, according to the data provided by Coinmarketcap. Meanwhile, the daily trading volume managed by the leading cryptocurrency is at $7.4 billion which has been at its highest on February 19th at $9.9 billion.
CME Bitcoin futures expire on the last Friday of the contract month at 4:00 p.m. London time. This means today it.e. February 22nd is the last trade date for the CME Bitcoin Future contracts.
 
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Source: CoinGape

XRP Ecosystem Growing: CinnamonVideo Building a Video Streaming Platform on Coil

Cinnamon Video has announced a video streaming platform that built on Coil. The idea is to monetize the video content through Coil that uses an open API i.e. Web Monetization to pay the sites in real-time.
“We are proud to announce https://www.cinnamon.video/  which will become a video-streaming platform with exclusive content for Coil members. Huge thanks to Coil, Interledger, and Ripple for making it possible. Stay tuned for more!”

Founded in late September in 2018, Coil is headed by a former Ripple Chief Technology Officer, Stefan Thomas that basically allows companies to accept XRP as a form of payment, that expands the digital asset as more than just a settlement currency to an effective currency to be used on the internet. The goal here is to use micro-payments to support the content creators in order to fix the “broken ad-supported web.”
“Huge news today! CinnamonVideo just announced they are building a new platform for video streaming. This will be the first major content platform built entirely on,” announced Coil on Twitter.
Currently, Coil has an extension that works in Google Chrome and Firefox that allows donating to the creators’ websites, their Twitch streams, and YouTube channels.
As Coil mentioned, this will be “first major content” that will be built completely on Coil that has the community excited as one enthusiast, Dr.T said, “Incredible achievement. None of us expected things to take off SO quickly. It was only last May that Coil was formed. In less than a year, it’s gone from strength to strength in terms of features and usage. Micropayments and Web Monetization is no longer a “theory”.”
This certainly affects XRP positively as it stats on Coil website, “Cryptocurrencies such as XRP are used as a part of this network, because of their speed and low cost.”
XRP TipBot is already a popular and a current widespread method for tipping content creators on Twitter and Reddit. And now as more platforms are built on Coil, the concept of micropayments by using XRP will gain more traction and prove that XRP is not just for banks and financial institutions to move big amounts of money but also to makes small amount with as much efficiency as well.
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Source: CoinGape

Ripple Present the Case for Why Europe Needs Just-in-Time Payments

In its latest blog from the insight section, Ripple talks about the need of just-in-time payments for EU. The small and medium enterprises (SMEs) in this region lacks the trust and creditworthiness that requires them to pay even before the goods can be delivered for their business.
“You can only enjoy trust if you have a long-term relationship with someone. If you are a new company, it’s very difficult to have this trust from the start. This is a barrier to innovation for anyone trying to build a startup that can compete on a global scale,” explained Jiri Kobelka, the CEO of Tatum Blockchain API.
This means payments need to be made quickly before the good are even dispatched and the fact that Europe’s cheapest suppliers that can provide these SMEs a competitive edge are outside the EU such as Russia, Serbia, and Ukraine makes it all the more difficult. In its blog, Ripple notes that “paying these suppliers is an expensive process that takes anywhere between three and five days.”
Just-in-Time Payments to Boost Innovation
Despite having the benefits of free movement of capital, goods, and people, Europe has an innovation problem and stands well behind the US and China. Here, financial service providers can play a crucial role by “reducing the friction” that are basically slowing down the payments across the EU.
“Cross-border payments within the EU sometimes happen quickly but can also take up to 24 hours if the payment was initiated outside regular bank opening hours or if it’s going through a country with slower processes like Spain.”
As Kobelka further shares, faster and cheaper remittances could “shift Europe’s economy to the next level and open the market for opportunities in the international trade.”
Ripple has proven in its pilot testings that it can settle real-time payments while cutting down costs significantly through its XRP-powered xRapid.
As it concludes, this is the time for Europe’s banks and payment services to adopt a just-in-time payments process to become the preferred providers of the growing number of SMEs that want to have an impact at a global scale.
 
 
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Source: CoinGape

Tron (TRX) Becomes Accessible to US Institutional Investors via BitGo

BitGo, an institutional-grade investment services firm will be offering wallet and custody support for the 9th largest cryptocurrency Tron, according to the latest reports. The support for TRX will be added later this year that will make it available to institutional investors of the US.
Tron CEO Justin Sun took to Twitter to share his excitement with the Tron supporters,
“TRON is making some serious advances on increasing TRX accessibility for institutional investors. Thanks to BitGo, institutions can now trade TRX in the U.S.!”
With this addition, Tron will be joining 1000 other digital currencies like Bitcoin, Ethereum, ERC20 tokens, Stellar, Zcash among others that are already supported by BitGo, that provides security, compliance, and custodial solutions for blockchain-based currencies.
BitGo that is world’s largest Bitcoin processor reportedly transacts $12 billion every month. The company that has over 300 clients across more than 50 countries also offers insurance protection for digital assets. The wallet service of the company has over $2 billion in assets under management.
“Thank you BitGo for supporting TRX and making TRX available for institutional investors! BitGo recently announced that it now offers a $100 million insurance coverage plan for all crypto assets under its custody,” shared Tron Foundation. 
Just recently, BitGo revealed its plan to offer crypto insurance for cryptocurrency and digital assets that are being held in their Business Wallet through Lloyd’s of London. Custodial assets held by BitGo will be insured up to $100 million USD while allowing its Business wallet clients to purchase theft insurance and Lost Key Cover.
Mike Belshe, the CEO of BitGo, said:
“This is the most complete insurance offering in the industry. It is not always easy for some clients to understand under what circumstances their investments are insured and to what extent their loss would be covered. We are changing that by being more transparent than any other company about the terms of our coverage. Transparency and accuracy is essential for building trust in the market.”
Just last month, BitGo partnered with Genesis Global Trading, a Bitcoin over-the-counter trading platform in order to allow the company’s custody clients to execute internal settlements on the same day.
At the time of writing, TRX has been trading at $0.025 with 24-hours gains of 1.02 percent while managing the daily trading volume of $140 million.
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Source: CoinGape

Litecoin Up over 120% Since December Low, What’s Fueling Litecoin to Outperform Bitcoin

The 5th largest cryptocurrency Litecoin has been having a green February for the most part as it surges 59 percent in this month alone. At the time of writing, Litecoin has been trading at $51.50 with 24-hours gains of 6.03 percent. In the BTC market as well, it has been in the green by over 6 percent.
While the top cryptocurrencies like Bitcoin, XRP, Stellar, Tron, Cardano, Bitcoin SV, IOTA, and Monero have turned red by around 1 to 2 percent, it’s amazing that Litecoin is still holding gains.
Since hitting the bottom in mid-December at below $23, Litecoin has climbed more than 120 percent, outperforming the top cryptocurrencies, especially Bitcoin.

                     LTC price chart, Source: Coinmarketcap
It is not only the Litecoin price that is surging, but the LTC/USD longs are also approaching its all-time high in November 2018. With the way the longs are spiking, there is a low possibility that a severe drop would be happening.

                     LTC/USD Longs, Source: TradingView
Litecoin Outperforming Bitcoin
Meanwhile, the February month saw Litecoin trading volume going well above $1 billion. Currently, LTC is managing the daily trading volume of $1.54 billion which is seeing a slight increase from yesterday’s $1.4 billion, unlike Bitcoin’s daily trading volume that yesterday hit its highest at $9.9 billion in about 9 months only to now drop down to $8.8 billion. According to the data provided by Coin Metrics, on February 9th, the exchange volume went to $1.7 billion for LTC and the last time Litecoin’s daily trading volume has been above $1 billion has been a year back in February 2018.

                           Litecoin Exchange Volume (USD), Source: Coin Metrics
This is not the first time that Bitcoin has been outperforming Bitcoin by price and trading volume increment as the 5th largest cryptocurrency has historically led the Bitcoin rallies as well, as Joe McCann said,
“Looking at how LTC has outperformed BTC since the epic selloff on November 14th 2018, we can see that LTC has outperformed BTC by better than 4:1 from current cycle low to current session high. As mentioned before, LTC has historically led BTC rallies…”

In the first week of February, Litecoin price started seeing a surge on the grounds of Litecoin creator, Charlie Lee announcing new features in the form of fungibility and Confidential Transactions to be added on Litecoin. However, unlike the previous time, Litecoin Foundation took active steps this time by exploring Mimblewimble implementation and collaborating with Beam for this.

Apart from the trading volume keeping the prices up, the on-chain transactions on Litecoin have been keeping stable around 20k. Even during the bear market, the transactions have held their ground that means speculators have fled from the Litecoin market, as noted by eToro senior analyst, Mati Greenspan, who further added,
“Unlike Bitcoin, $LTC has already snapped its long term bearish trend line (yellow) at the beginning of the year. At the moment, there’s a strong psychological resistance at $50, but after that it’s smooth sailing #ToTheMoon.”
Well, Litecoin has already crossed $51 and now with only about 168 days are left in Litecoin reward halving, it would be interesting to see where will this short-term rally lead to or if Litecoin is leading another rally to the peak!
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Source: CoinGape

Bitcoin Price Crosses $4,000, Could we have Another Spike While Chart “Screams Bottom”

Volatility entered the market on the weekend when greens exploded across the cryptocurrency space with top ones registering a rise of as high as 12 percent in a day. Bitcoin took a spike as well and briefly hit $4,000 on Bitfinex. At the time of writing, Bitcoin has been trading at $3,952 with 24-hours gains of 0.42 percent, as per data provided by Coinmarketcap.
Bitcoin price 5-days chart, Source: TradingView
 
The price wasn’t the only one that took a spike, one of the strong factors that contributed to this hike has been its trading volume. The leading cryptocurrency that is currently managing the daily trading volume of $8.95 billion yesterday hit $9.9 billion. This high was previously registered on May 3rd, 2018.
Trading volume has an integral part to play in the Bitcoin price as the crypto trader and analyst Josh Rager shared,
“Bitcoin currently at resistance level with a break and close above $4100 is bullish. But…Volume continues to decrease on high time frames: the decreasing volume w/ rising price = bearish. If the volume doesn’t pick up, I foresee BTC price dropping back to support.”

It’s a possibility that as traders and investors start getting bullish, the flagship cryptocurrency might do a U-turn and take a hit to another bottom as many analysts have already predicted for in the first quarter of 2019 as Rager further comments, “I expect bullishness and overconfidence by majority before a drop to the bottom.”
“Notice the long wick, a nice sign of a slight retrace likely. Would like $BTC push up slightly higher to at least $4100 to mid $4ks would be a nice a target. For traders, this is good volatility. For Holders, you could see new lows in the coming weeks,” noted Rager.
Now, similar thoughts are echoed by economist and crypto trader Alex Kruger who says, the current market has covered all the factors, viz. “Capitulation” that occurred from November to December in 2018, then bounced off long term trend measure, twice, on Dec & Feb (200 WMA), and the current movement that broke out from High Low” in high volume, to hit the bottom.
In the short term, analysts are predicting Bitcoin to move between the $3,700 and $4,200 range while as Rager noted and now Kruger, once this $4,200 level gets broken, price can move really “fast,” but it in no way means Bitcoin price won’t crash rather the chart is giving bearish signals.
“Prices may crash again. After all, bitcoin’s demand is almost entirely speculative, and natural sellers (miners, exchanges) will always sell.”

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Source: CoinGape

Binance DEX Testnet Launched, BNB Breaks into a New ATH in BTC Market

“Fast and secure decentralized digital asset exchange. The new cryptocurrency trading standard is here,” states the website of the brand new launched Binance DEX.
The much anticipated Decentralized exchange (DEX) of the world’s largest cryptocurrency exchange Binance has finally launched its testnet for public testing. Binance DEX aims to bring the best of its centralized exchange’s features in a decentralized setting.

As Binance CEO, Changpeng Zhao better known as CZ has pointed out previously, the focus of the DEX would be on security, user-friendliness, and speed. Recently, in an interview, he had shared,
“The user interface on Binance DEX is similar to the interface of Binance.com. Fast, secure and user-friendly. We envision the Binance Chain to help grow the community and further crypto adoption and accessibility.”
Recently, in a blog post, Binance had shared that the common problem that exiting DEXs face is in the form of difficulty in attracting the users which is due to less intuitive user experience, speed, and liquidity issues.
But Binance is all set to tackle this issue of reaching a wider user base head-on as they are in a “unique position” to run a secure exchange platform that processes billions of attractions with speed as it’s all about “replicating” the success of its market-leading centralized exchange into the decentralized realm.
No doubt, Binance is best suited for this challenge. Even despite the demand from the users, existing DEXs haven’t been able to live up to their expectations, however, Binance DEX is hitting just the ‘pain point’ of the users by offering this community initiative with low trading fees, user-friendly, and a safe and secure platform. Apart from near-instant transactions finality with an order matching engine, it allows its users to hold their own keys.
Binance DEX Hit the Right Chords for BNB Price
“BNB, currently an Ethereum ERC20 token, will be migrated to Binance Chain to become the native asset of the new blockchain,” mentions the official BInance DEX website.
In the past 24-hours, BNB has taken a hike of more than 15 percent at $$11.16. In the BTC and ETH market as well, it is up by 14 and 17 percent respectively, according to the data provided by Coinmarketcap.

        BNB Price Chart, Source: Coinmarketcap
Since mid-December, Binance’s native currency BNB has been on an upward movement and now the launch of Binance DEX has given the 10th largest cryptocurrency another boost. As a result, BNB has made a new all-time high (ATH) in the BTC market.
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Source: CoinGape

Bitmain’s Game Plan: Rushes in Bitcoin Mining Chip Just a Day Before Reporting $500 Million Loss in IPO

Just yesterday, Bitmain announced the release of a new 7-nanometer Bitcoin mining processor that the company says offers new levels of energy efficiency. BM1397, the new ASIC (application-specific integrated circuit) will reportedly offer improvements in chip size, energy efficiency, and performance in the mining of the proof-of-work (POW) cryptocurrencies that are based on the SHA256 algorithm including Bitcoin (BTC) and Bitcoin Cash (BCH).
Bitmain Technologies said in its official announcement:
“This is a 28.6 percent improvement in power efficiency in comparison with Bitmain’s previous 7nm chip, the BM1391. To achieve this, Bitmain’s engineering team has thoroughly customized the chip design to optimize its architecture, circuit and economics.”

These new chips are made using TSMC, (Bitmain’s chip supplier, Taiwan Semiconductor Manufacturing Company) which the company says it is “a testament to Bitmain’s improvements in chip design methodology and deep understanding of the most advanced semiconductor fabrication technologies.”
The BM1397 chip that will feature new Antminer models the S17 and T17, to be announced at a later date by the company, is designed to provide a better mining experience while aiming to “set a new benchmark in ASIC chip technology.”
Bitmain Losses $500 Million in IPO Filing
Now, just a day after, the world’s largest maker of crypto mining equipment has reportedly made a loss of $0.5 billion in quarter 3 of 2018, reported CoinDesk. Citing a source, who saw the filing, during the first nine months of 2018, the company made a revenue of $3 billion while Quarter 3 saw only $200 million.

The Beijing-based company that filed for an Initial Public Offer (IPO) in September last year recently provided its financial results update to the Hong Kong Stock Exchange (HKEx). However, according to HKEx rules, “the latest financial period reported on by the reporting accountants for a new applicant must not have ended more than six months from the date of the listing document.”
Bitmain is currently going through a rough patch as there had been news of office closures and staff layoffs due to the slump in cryptocurrency prices as its main businesses are manufacturing the mining equipment and operating the mining pools.
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Source: CoinGape

XRP Up Over 16% But Here’s Why You Need to be More Bullish

The 3rd largest cryptocurrency is enjoying gains just like the broad crypto market. Currently, up more than 7 percent, it is trading at $0.334 while registering 3.04 percent gains in the BTC market. With a market cap of $13.7 billion, it is managing the daily trading volume of $1.16 billion. In less than 2 days, XRP price has surged over 16 percent.

XRP price 7-days chart Source: Coinmarketcap
Mati Greenspan, a senior analyst at eToro, shared some data depicting its price and transaction volume, “Transactions in XRP went quiet from December 11th but came back with a vengeance on January 26th.”

Yoshitaka Kitao CEO of SBI Group is Bullish on XRP
Now, according to the latest video that surfaced online, the President of Japanese financial giant SBI which is also a Ripple partner, Yoshitaka Kitao, shared that he is extremely bullish on XRP and that it will surpass the market cap of Bitcoin this year.
“Because XRP is already beginning to become international, xRapid will be used for fund transfers in 2019. By increasing the so-called XRP’s plastic use, we anticipate that the [Ripple] market capitalization will easily exceed the market capitalization of Bitcoin (BTC).”
Further talking about Corda, the blockchain platform of R3 which has a joint venture with SBI and are planning to establish SBI R3 Japan, he said,
“You can use R3’s ‘Corda’ for international remittance, but Corda Settler and XRP use this because they have high affinity. That’s why the SWIFT partnership with R3 (Corda) is good news that brings bright materials to the market… What I emphasize is to combine R3 and Ripple to make XRP thoroughly practical useable.”
In a separate event, Mexico’s Deputy Finance Minister Arturo Herrera recently said in an interview with Reuters that the government is planning to cut the cost of sending cash home for Mexican families living abroad. The govt. is further hoping that the high competition from fintechs will encourage banks and financial service providers like Western Union to reduce commission and improve the exchange rates.
“That is to say, the cost of transactions must come down by about 40 percent. That is something the fintechs are probably in a better position to do than traditional actors such as banks. Their great advantage is that they can operate in a more efficient and direct way and at lower costs, which should lead to lower commissions,” said Herrera.
According to the Mexican central bank data, 24 million Mexicans live in the US which is by far the largest source of money sent home. In 2018, Mexicans sent a record $33.5 billion in remittances.
The point worth noting here is that Western Union is already piloting with Ripple for the US and Mexico corridor and its closest rival MoneyGram is also in partnership with Ripple and testing XRP for payments.
Cross-border remittance is the focal point of Ripple enabling faster and cost-effective payments, which in the light of the measures to be revealed at the annual Banking Convention in March by the Finance Ministry, Ripple and XRP usage can be expected to get a swift kick.
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Source: CoinGape

Bitcoin (฿) Symbol Now the First Currency on Google Keyboard

The adoption of leading cryptocurrency is increasing day after day. Now, the latest addition to this list is the Bitcoin symbol on Google Keyboard. A Bitcoin enthusiast took to Twitter to share this update with the crypto community which has everyone elated of this small but at the same time a big thing for the flagship cryptocurrency.
“Wow, I just noticed that the ₿ symbol is now the first currency when u long press $ on Google keyboard…Does everyone know this? Bitcoin is becoming pervasive everywhere.”
 

This is certainly a victory for the Bitcoin and crypto community as it will expose Bitcoin symbol and by extension crypto to the masses.
The “฿” symbol is the first one in the currency strip and closest to the left finger. However, it is only for iOS as have been noted by the enthusiasts, “It’s only so on iOS, strangely not on Android.”
There has been a bit of confusion if it is Thailand’s currency Baht but it is clear that it is not as one Redditor explains further, “Baht has a single line going through the whole B like this ฿.”
Another one explained, “If any of you guys want to be able to type it, the Unicode code point it: U+20BF. For me, on Linux this means hitting Ctrl-Shift-U then releasing and typing 20BF or 20bf since caps don’t seem to matter which produces a nice ₿.”
Back in 2017, the Unicode Consortium revealed its 10.0 version that included the Bitcoin “B” symbol while the efforts to get Bitcoin Unicode symbol date back to even far back to 2011. The proposal for this had been submitted by a tech blogger Ken Shirriff that was considered by the Consortium unlike its previous proposal by Sander van Galoven of the Netherlands, which was rejected by the organization.
The post Bitcoin (฿) Symbol Now the First Currency on Google Keyboard appeared first on Coingape.
Source: CoinGape

Bitcoin [BTC] Briefly Touches $4,000, Will Bulls Bring in More Gains or Back to Sideways Movement?

Finally, Bitcoin touched $4,000 briefly on Bitfinex as it inches close to hitting a new high of 2019. The leading cryptocurrency registered significant gains today as according to the data provided by Coinmarketcap, Bitcoin is up by 7.76 percent in the past 24-hours.

Bitcoin price 5-days chart, Source: Coinmarketcap

However it’s just not Bitcoin that is enjoying the greens, the entire crypto market is euphoric as altcoins go surging as usually is the case in a bull market.
EOS and Bitcoin cash (BCH) are the top gainers among the top 10 cryptocurrencies with over 20 percent gains, followed by Ethereum (ETH) that is up by about 16 percent. Meanwhile, today’s highest gainer is WAX and Veritaserum that are up more than 33 percent. Ark is the highest loser with 13 percent losses while Aurora and Powerledger are in the red by about 2 percent.

Source: Coinmarketcap
The total market cap added $12 billion in about a day while the daily trading volume hits $31.5 billion.
Meanwhile, the analysts at Cambridge Associates, a consultant for pensions and endowments said in a note as reported by Bloomberg that investors should consider investing in cryptocurrencies.
“Despite the challenges, we believe that it is worthwhile for investors to begin exploring this area today with an eye toward the long term. Though these investments entail a high degree of risk, some may very well upend the digital world.’’
It has been further added in the note that, “The dramatic declines that swept across the crypto space raised questions about the future of these assets and the blockchain technology that underpins them. Yet, in looking across the investment landscape, we see an industry that is developing, not faltering.’’
Miners Revenue Nearing the 2-Year Low
While the Bitcoin price is seeing an uprise, Bitcoin miners’ revenue is close to hitting a 2-year low. A crypto Analyst with pseudonym Rampage shared a thread on Twitter where he detailed latest Bitcoin network data.

Bitcoin miners revenue is hitting a near 2 year low.
This also means that it’s becoming super cheap to transact on the network again.
Anyone remember the ridiculous fee’s and long wait times to transact in late 2017?
Thread 👇
/1 pic.twitter.com/XzKhex5kHq
— 𝓡𝓪𝓶𝓹𝓪𝓰𝓮 🦍 (@Thrillmex) February 17, 2019

This has been happening because of the total transaction fees hitting a 5 year low. “This is the total value of all transaction fees paid to miners (in BTC). USD linear chart looks brutal. Miners are getting paid less and less.”
The good thing is Bitcoin wallets that are being created are still on a rise as now 33M wallets are created that has some interesting stats behind them.

He concluded this with,
“Looking at this data it would seem that the bitcoin network is as strong as ever, yet, money continues to be poured into its infrastructure but seems to be built without a corresponding user base – a gigantic risk on a speculative asset. Bitcoin – huge risk, huge reward.”
The post Bitcoin [BTC] Briefly Touches $4,000, Will Bulls Bring in More Gains or Back to Sideways Movement? appeared first on Coingape.
Source: CoinGape

Ethereum: ETH/USD Longs Heading for All-Time High While Daily Block Reward Hits its Lowest Ever

The expectations in the Ethereum bulls are rising as ETHUSD longs approach all-time high (ATH). Meanwhile, the daily block rewards on Ethereum network recorded the lowest on February 17 at 12989.34375 ETH.
While Ethereum price is surging, the ETHUSD longs are also close to hitting the all-time high, According to TradingView, today’s highest point has been 509161 but has now come down to 498217.

ETHUSD Longs, Source: TradingView
The Lowest Ever Ethereum Daily Block Rewards
With about 10 days left in the Constantinople hard fork, the block reward on Ethereum has already taken a hit and dropped down to its lowest as per the data provided by Etherscan that states, “Lowest Daily Block Rewards of 12989.34375 ETH were recorded on Sunday, February 17, 2019.”

Meanwhile, the Ethereum Improvement Proposal (EIP) #186 that is to “reduce ETH issuance before proof-of-stake” has been voted, that if implemented would reduce the reward allocated to miners.
According to the abstract of the proposal:
“A reduction in the issuance of ether is very likely to be price-supportive and lead to increasing investments in the platform and to help ward off speculative attacks on the value of ether by promoters of competing platforms who offer, or plan to offer, reduced token inflation rates.”

Source: http://carbonvote.com/
Meanwhile, Thomas Chippas is voicing for Ethereum futures in a letter to the US Commodity Futures Trading Commission (CFTC) where he talks about its importance for the market health.
“ErisX believes that the introduction of a regulated futures contract on Ether would have a positive impact on the growth and maturation of the market for Ether, as well as the Ethereum Network more broadly.”
He further stated the benefits of Ethereum in the letter and how an ETH-based regulated investment vehicle would “promote responsible innovation and development in the derivatives market.”
Bulls are on the Move
Crypto market is enjoying the greens as the top cryptocurrencies are registering the gains between the range of 2 to 6 percent. In the past 24-hours, the crypto market has added about 5 billion.

Top Cryptocurrencies, Source: Coinmarketcap
However, the second largest cryptocurrency Ethereum is leading among the top cryptocurrencies with 12 percent gains at $137.58. With a market cap of $14.4 billion, it is currently managing the daily trading volume of $5 billion.
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Source: CoinGape

Crypto Analysts “Incredibly” Bullish on Ethereum as Price Jumps over 12%

The new week has started on a good note as crypto prices go green. However, among the top cryptocurrencies, Ethereum is rocking the highest gains of overall 12 percent.
At the time of writing, the second largest cryptocurrency has been trading at $138.24 with 24-hours gains of 11.40 percent. In the BTC market as well it is up by over 7 percent. If you take a look at Ether’s one-day price chart, it has been on an upward incline, going from $123 to $138.

Ethereum 24-hours price chart, Source: Coinmarketcap
With ETH reward reduction coming in just about 2 weeks, looks like this time Ethereum bulls have finally started a short-term rally for the crypto market.

Analysts Seeing a Major Shift Potential in Ethereum
As Ethereum prices spike upwards, Crypto analysts and traders are expecting even more green with a major shift coming its way.

According to Crypto trader Hsaka the Ethereum price chart is in a very bullish territory right now while expecting the prices to go above $145 as he says, “Take a breath before FOMO gets to you. Chart looks pretty darn bullish. That doesn’t mean blindly long at resistance, wait for a pullback and long that instead. Or wait for it to start consolidating under resistance.”

ETH/BTC pushing over the 200 day moving average for the first time in months. Also a 50/200 cross seems imminent. Major shift potential. pic.twitter.com/YzbowSw9ju
— Ledger Status (@ledgerstatus) February 17, 2019

Meanwhile, one crypto trader is far more bullish on Ethereum as DonAlt shares his sentiments towards this digital asset, “I’ve heard Etherum will one day be the global computer that does smart contractions so I rebought me a few at 121. Seems like a good idea if you compare it to BTC it can go x10 easily and still only be worth 1/3rd of a coin. That’s a steal right there.”

I’m incredibly bullish on $ETH for the next few weeks.
I’d get a cardboard Vitalk cutout if I could just so I have it by my side 24/7.
No matter what BTC does ETH will outperform the market in my mind.
I’ll use dips as giant buying opportunities.
— DonAlt (@CryptoDonAlt) February 17, 2019

While it is expected that Bitcoin could see a breakout as well, Ethereum is already nearing $140 and is poised for more gains. Having recently taken over the 2nd position from XRP, Ethereum is all set to make the most of its upcoming event on February 27.

$ETH
ETH gave some good opportunities this morning with a quick move up.
Raided the highs and is now retracing.
Depending on today’s daily close I’ll be targeting the $115 area for ETH.
That’d probably bring back all the bears that got stopped / liq’d on the move up. pic.twitter.com/n1x9weymSf
— DonAlt (@CryptoDonAlt) February 17, 2019

The post Crypto Analysts “Incredibly” Bullish on Ethereum as Price Jumps over 12% appeared first on Coingape.
Source: CoinGape

Green Bitcoin February: Bitcoin [BTC] Investors Got More Reasons to Be Bullish Now than ever

At the time of writing, Bitcoin has been trading at $3,630 with 24-hours loss of 0.24 percent. The leading cryptocurrency is currently managing the daily trading volume of $6.4 billion. If we take a look at the Bitcoin price for the past 7 days, the price moved between $3,695 and $3,610.
Since June 2018, Bitcoin price has been constantly registering the red candles but the month of February could be one after six months to see a green candle. According to the crypto trader and investor Josh Rager, if Bitcoin breaks below $3,413, the red monthly trend will recommence.

$BTC Monthly Chart
Bitcoin is working on its first green monthly candle since July 2018
The past 6 months Bitcoin has seen red on monthly, a break and close below $3413 will continue the red monthly trend pic.twitter.com/RLLi5N02BB
— Josh Rager 📈 (@Josh_Rager) February 16, 2019

So Much to be Bullish About
The crypto market is in the longest bear market in its history but there are more reasons in the current market more so than ever to be bullish about.

When it comes to the Bitcoin network, the transactions are ever increasing while the average fee is taking a downward shift. According to Blockchain.com, the biggest block with an average size of 1.305 megabytes has been mined which has been the result of ever-increasing adoption of Segregated Witness (SegWit) that now accounts 40 percent of all Bitcoin transactions.
Bitcoin awareness and adoption is spreading worldwide and those who really need it are investing in this uncensored and borderless cryptocurrency. The Bitcoin trading volume in countries like Venezuela among others in Latin America is reaching all-time highs.
The institutional investors that the crypto community is waiting for are coming slowly but surely with two big names in the form of Bakkt and Fidelity with their platforms to be launched somewhere around this year. Just recently, Nasdaq announced that it will be launching two new indices Bitcoin Liquid Index (BLX) and Ethereum Liquid Index (ELX) to track the real-time cryptocurrency prices.
Another instance of institutional money getting into crypto is the two US pension funds viz.  Virginia’s Fairfax County’s Police Officers Retirement System and Employees’ Retirement System that has invested $40 million in Morgan Creek Digital.
If we talk about the Lightning Network, the second layer on Bitcoin network, it is seeing an exponential growth as its network capacity is nearing 700 BTC while the number of nodes has crossed 6,000. Meanwhile, the real-world adoption could also be seen as Domina Pizza now accepts Bitcoin though Lightning network.
The post Green Bitcoin February: Bitcoin [BTC] Investors Got More Reasons to Be Bullish Now than ever appeared first on Coingape.
Source: CoinGape

The “Secret” of Binance’s Success and What makes BNB a “Hot” Investment even at ATH: Crypto Analysts share

Launched in July 2017, Binance is the biggest cryptocurrency exchange today. According to the Coinmarketcap, in the past 24-hours it has been managing the daily trading volume of $554 million. Though the trading volume has dropped in response to the ongoing crypto winter, Binance is still maintaining its first place. But how?

It is definitely “Buidl” as Binance CEO, Changpeng Zhao has emphasized on every occasion and this time was no different, “Not humbly, luck, and a LOT of hard work, by the whole team (CEO still working 1:30 AM on a Sun morning, and the team is online), Binance Angels (pure volunteers, not paid), and supporters like the commenters in your tweet…”
However, the crypto community further elaborated on the factors that make Binance so likable among the crypto space.
One Binance enthusiast said in part, “to answer your question on a personal level, Binance released a version of their app that affected color blind people like me. I tweeted to them, they listened and released another version 48 hours later,” which is impressive, to say the least.
Binance CEO himself plays an important role in this as he is the main force behind this exchange along with the team that as he says together focuses on customer services, funds safety or SAFU, and a long list that crypto trader Alex Kruger further shares.

What makes BNB a “Hot” Investment even at AT
It’s not only Binance that is defying the bears of the market as we reported recently rather the native currency of the exchange is making equally impact and gains. Recently, the 10th largest cryptocurrency, BNB reached its all-time high (ATH) against BTC a few days back at $0.0026.

BNB price chart, Source: Coinmarketcap
Since mid-December, Binance Coin (BNB) has been on a rise reaching from $4.52 to $9.58 but is still over 60 percent down from its all-time high in the USD market. But it could be expected that BNB would reach another peak before any other cryptocurrency in the market in the light of various developments going on as pointed out by crypto trader Moon Overlord.

I can’t really recommend buying at an ATH but $BNB might be a rare exception.
– Binance launchpad ICOs are only contribuable in $BNB
– $BNB launching it’s own chain soon (moving off $ETH / ERC20)
– Binance DEX launching soon
– Binance DEX listing fee, yep you guessed it – $BNB pic.twitter.com/TasQCHWrjl
— Moon Overlord (@MoonOverlord) February 16, 2019

Binance Launchpad has already taken a flight with the sale of BitTorrent (BTT) while Binance DEX is scheduled for public testing on February 20th as we reported with $20,000 as a listing fee that would be in BNB.
The post The “Secret” of Binance’s Success and What makes BNB a “Hot” Investment even at ATH: Crypto Analysts share appeared first on Coingape.
Source: CoinGape