Ethereum [ETH] dApp users drop as EOS and Tron dominate the market

EOS tops the dApps chart with its PRA CandyBox listing on blockchain dApps website, Dapp Radar. In the list of the most popular dApps on the website, EOS is in competition with Tron’s dApps. However, this finding is not good news for Ethereum [ETH] as it holds only one dApp in the top 30. On the other hand, EOS has 13 of its dApps listed.
Ethereum’s platform has a total of 1,812 dApps against the 323 dApps that EOS has. On the contrary, a recent report suggests that more than 50% of EOS dApps are used per day, while only a mere 10% of the ETH dApps were used daily.
A huge disparity is noted in terms of the volume of transactions per day on the two blockchains. Transactions on the Ethereum network are around 200,000 per day while EOS executes 450,000 transactions per day.
According to charts published by dApp Radar, daily users of the ETH dApps from December 2017 to February 2018 shaped a large volume, rallying above 17000. The numbers fell for a period of three months but continued to maintain a minimum user base of 8500.
The lowest phase recorded for the dApps on Ethereum was registered in July 2018, when the users per day fell below 8000. Gaming is the most popular space on the ETH platform with 1535 users, while gambling, exchanges and marketplaces have 1535, 800 and 162 users respectively.
Besides, another dApp to join the EOS bandwagon is NEO network’s Effect, the popular AI-powered dApp. It was launched on the NEO blockchain in 2017 and will migrate to the EOS decentralized platform soon.
The reason cited by Jesse Eisses, CTO of Effect.AI stated:
“The current implementation of the blockchain can’t get to the promised transaction throughput and the smart contract compilers besides C# are still immature.”
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Source: AMB Crypto

Binance CEO announces launch of its first Decentralized Exchange Testnet

In a recent interview with cryptocurrency and blockchain enthusiast, Ivan Liljeqvist, Changpeng Zhao aka CZ, the founder and CEO of Binance, spoke about listing and delisting coins on its platform, the standards to be met and above all, the launch of DEX.
Binance, which is essentially a centralized entity, is all set to step its toes into the DEX space after releasing its first version. Talking about supporting decentralized exchange without even being one, CZ said:
“I think we have listed no less than seven decentralized exchange coins”
CZ also admitted that any one of them could easily disrupt the centralized system run by them. He highlighted the aspects of security, ease of use and freedom rather than setting decentralization, as the goal of his work.
Talking about DEX’s profitability, CZ asserted:
“DEX may not generate a lot of revenue for Binance.com because the nodes will be decentralized and we don’t own most of them. But it is likely to increase utility and hence the value of the Binance coin and we still have decent number of Binance coin ourselves.”
CZ further said that DEX, which is a unique offering of the centralized exchange, is technically fully decentralized. He said:
“Users hold their own private key and the network never has access to the key.”
He also revealed that the mainnet runners for the DEX have not been decided yet. However for the testnet, all the nodes will be run by them in order to understand its workings.
The all-new DEX will be using Binance Chain to render instant transaction confirmation for a similar trading volume.
Earlier, the exchange had announced that their native Binance coin [BNB] will be moved to the Binance Chain, which was previously trading on the Ethereum blockchain.
Subsequently, other tokens might also move into the chain. Speaking further about the process, CZ stated:
“You can issue token, you can trade them, submit your proposals to get your coin listed on the DEX and the nodes will vote for you.”
Over 8 tokens have confirmed their migration into the Binance Chain from ERC 20.
Binance CEO CZ has previously been criticized by the community for removing coins from the exchange. To this, CZ responded by saying:
“Because we are centralized we will have to take on the responsibility of selecting projects and working with projects to list them. Basically, we want a listing of projects with a large number of users, good products, good communication with the community, consistent improvements and active developments.”
Other reasons for delisting include limited technical resources and security issues, said CZ. He finally concluded by saying that he believes that listing more coins for an exchange ‘is not the best market strategy’.
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Source: AMB Crypto

Litecoin [LTC] Price Analysis: Bulls seize the initiative as coin prices surge

Over the week, the fifth largest digital asset on CoinMarketCap, Litecoin [LTC] has maintained its bullish momentum that has translated into a price movement upwards.
During the day, the digital coin slipped to a low of $47.32 before trading across a high of $49.18.
At press time, the silver coin held a market capitalization of $2.95 billion and was priced at $48.50. The valuation for the coin sprung up by 4.46% with a total trading volume of $1.48 billion registered during the past 24 hours.
OKEx has been facilitating high volumes of trading via the trading pairs LTC/BTC and LTC/USDT. The pair LTC/BTC has encompassed a volume of $80 million at a price of $48.31, followed by LTC/USDT with a trading volume of $78.08 million valued at $48.54. Additionally, LTC/BTC has been trending at Coindeal claiming a volume of $74.09 million at a price of $48.33.
1-hour
Source: TradingView
In the hourly chart for LTC, an uptrend from $43.85 to $46.98 and a downtrend from $48.37 to $47.34 has been recorded.
The coin has surpassed resistance levels at many points post-surge and it is to be seen if LTC can break through the new traction of $50.00, rewinding the bullish phase of the previous year. The support marked for the chart is at $47.08.
Parabolic SAR: The dotted lines can be found below the candles, indicating the bull’s contribution to the price momentum of LTC.
Awesome Oscillator: The lines turning green in the AO further suggests a bullish trend for the coin.
Klinger Oscillator: The KO indicator, however, exhibited a bearish trend with the reading line hovering below the signal line.
1-day
Source: TradingView
An uptrend from $32.71 to $43.20 and a downtrend from $55.82 to a low of $32.09 has been registered for the one-day analysis of LTC. The resistance during this time is noted at $51.11 and that of support is at $40.97.
Bollinger Bands: Expanding Bollinger Bands indicate high fluctuation and volatility in the coin’s price.
Chaikin Money Flow: The CMF graph treads above the zero-line, indicating some money flow into the market due to the bulls.
MACD indicator: The MACD line treading above the signal line also predicts a bullish course.
Conclusion
The Parabolic SAR, AO, CMF as well as MACD all project the bulls to hold their course while the KO suggests some bearish activity.
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Source: AMB Crypto

Bitcoin [BTC] maximalist Andreas Antonopoulos urges people to embrace decentralization

Andreas M Antonopoulos, a Bitcoin advocate, addressed a few questions regarding cryptocurrency adoption and the evolution of the money concept over three different sessions. Andreas summing up the three sessions tweeted through his official Twitter handle,
“Bitcoin Q&A: The obsoletion of legacy systems”.
During the Q/A session at the Polish Bitcoin Congress [Polski Kongres Bitcoin], Warsaw, he asserted that the traditional financial institution establishment will adapt ‘poorly’ to the transformation stirred by the creation of the digital asset.
He further said that the idea of a centralized entity holding an individual’s money will be one of the “obscure, weird and elitist things” soon. It would soon be a hobby that only “old rich people” can afford to do, like owning a horse, he said.
Calling the traditional financial system ‘sclerotic,’ Andreas stated that once the people who work for it realize the opportunity of a decentralized system, they will quit. The reason being that old, big and centralized institutions won’t be able to accommodate creative and interesting people in their rigid structure.
During one of his AMA sessions, he even advised people to not keep coins in a centralized wallet. The Bitcoin [BTC] maximalist said:
“Keep your own keys. Take the decentralized system power in your own hands. Hold the keys for all your crypto.”
Pressing for the adoption of digital currency, Andreas admitted that it is not possible to completely do away with the centralized systems. Having said that, he urged people to use and accept cryptocurrency wherever feasible for all the products and services that an individual renders. This would be a step forward in triggering adoption.
To a question seeking to know if the cryptocurrency industry is still less than money, Andreas said that the future application of the technology cannot be determined by developers. Instead, it is the market that decides what kind of application can be run on the developed tech.
He further said that replacing money is not about disrupting the current banking industry. Andreas maintained that this tech is not about cardinally altering what money is and its mechanisms. There will not be one single virtual currency that is going to replace conventional money.
Citing that the technology stands for the proliferation of different currencies for different purposes, Andreas stated:
“This will be fungible and fluid and easily exchangeable by an algorithm in your wallet that decides how to arbitrage between two opportunities.”
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Source: AMB Crypto

Litecoin [LTC] Price Analysis: Mixed signals for the LTC market as coin struggles with volatility

The fourth largest cryptocurrency in the world with respect to market capitalization on CoinMarketCap, Litecoin [LTC] soared moderately during the early part of the day.
The silver altcoin opened at $41.88 and climbed up to a high of $42.55, a day during which the price of the coin also fell to a low of $41.27.
At the time of writing, the coin had a market capitalization of $2.58 billion with a 24 hour growth of 2.71%. Priced at $42.66, the total volume of LTC traded across the market space was around $932.14 million.
The top three LTC pairs are trending at Coineal, ZB.COM and OKEx respectively. LTC/BTC at Coineal, is leading with a trading volume of $56.70 million and is priced at $42.69. The second position is occupied by LTC/USDT at ZB.COM with a volume of $45.01 million at $44.13.
1-hour:
Source: TradingView
In the hourly chart, LTC exhibited an uptrend from $40.97 to $41.76 and a downtrend from $43.97 to $41.19. The immediate resistance is noted at $46.42 and the support at $37.68.
Parabolic SAR: The dotted markers are all oriented below the candlesticks, indicating that the price momentum of LTC is exhibiting a bullish trait.
MACD: The MACD line above the signal line further marks a potential bullish trend for the silver coin.
Awesome Oscillator: The AO indicator in the hourly chart suggests a bearish trend with the lines turning red.
1-day:
Source: TradingView
An uptrend from $33.12 to $42.09 and a major downtrend from $55.84 to $38.95 has been recorded for the one-day chart of the coin. The immediate resistance is marked at $46.42 and the support point is at 37.68.
Bollinger Bands: The major expansion of the bands suggests high price volatility of the altcoin in the market.
Chaikin Money Flow: The CMF graph is moving above the zero-line, suggesting that the bulls have initiated a flow of capital into the market.
Klinger Oscillator: The reading line is treading below the signal line, indicating that the coin’s price is following a bearish pattern.
Conclusion
The CMF, Parabolic SAR and the MACD indicators give the edge to the bull. On the other hand, the KO and AO indicate the coin following a bearish trend supplemented by a degree of fluctuation.
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Source: AMB Crypto

Litecoin [LTC] Price Analysis: Bear’s grasp over the coin tightens

With a total market cap of only $120 billion, most of the crypto assets on CoinMarketCap are now in the red. Despite last week’s surge, digital currencies have stepped back, falling behind support levels, including Litecoin [LTC], which currently stands fourth after a sudden flip last week.
The silver crypto opened at $43.83 and traded at a high of $44.51 before falling down to $41.42 and finally, closing at a low, recorded at $42.00.
The pair LTC/BTC has been trending on five different exchanges. Leading the way was OKEx, with a 24-hour volume of $63.91 million. The second exchange platform on the list was Coineal, with a volume of $57.63 million, was followed by DigiFinex with a volume of $56.63 million.
At the time of writing, the market capitalization held by LTC stood at $2.51 billion. LTC was valued at $41.56, with a volume of $1.09 billion. The fourth-largest coin displayed a slip of 2.15% in the past 24 hours.
1-hour:
Source: TradingView
An uptrend from $43.01 to $43.67 has been recorded for the coin on the hourly chart. The downtrend for the same has been recorded from $46.52 to $43.68. The resistance is marked at $42.35, while the support is at $40.78, which is uncomfortably close to the price of the coin.
Parabolic SAR: Dotted markers are placed above the candles, suggesting a bearish phase for the silver coin.
Chaikin Money Graph: The CMF is trending just below zero, suggesting that money inflow is lower than the outflow.
Klinger Oscillator: With the reading line looking to move over the signal line, the KO indicator predicts a potential bullish crossover soon.
1-day:
Source: TradingView
An upward trend from $23.25 to $30.68 and a massive downward trend from $55.91 to $38.87 has been recorded on the altcoin’s one-day chart. The immediate resistance noted for this time period is marked at $46.48 and the support point is at $38.67.
Bollinger Bands: The diverging Bollinger Bands suggest a high probability for a significant price fluctuation in the LTC market.
Awesome Indicator: The lines are slowly turning red, indicating that the price momentum is moving towards a bearish phase.
MACD: The MACD line is placed above the signal line. This suggests that a bullish market may soon be in the offing.
Conclusion:
Parabolic SAR, CMF, AO indicators all paint a bearish picture for the LTC market. However, a faint bullish trend is predicted by the KO and MACD indicators. Price movement for the coin seems inevitable as the Bollinger Bands suggest some price volatility in the future.
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Source: AMB Crypto

Bitcoin [BTC]: SegWit transactions’ volume peaking on the Bitcoin network

The volume of transactions using the soft fork protocol upgrade, SegWit [Segregated Witness] protocol, in the Bitcoin network, hit a whopping 89.70% in the first week of February this year according to the tracking site, p2sh.info.
During the beginning of 2018, SegWit transactions accounted for a mere 15%, doubling up post-February. The percentage shot up to over 50% in October of the same year. The usage, however, stalled for more than five months, after mostly because of the long bearish trend in the crypto space and remained below 45% of the total transaction.
A year later, as of 12th February 2019, out of a total of 258459 transactions on the Bitcoin network, around 45.91% were executed using SegWit protocol. The transaction fee paid accounted for 42.23% and the volume of transactions done using the soft fork protocol, slipped to 82.18% on the same day, cladding a block space of 44.74%.
The adoption of this controversial protocol has been slow since its upgrade is not mandatory. Owing significantly to the SegWit protocol, the transaction rates of Bitcoin have been optimistic even as the transaction fees have declined. Major crypto asset exchange platforms have also backed SegWit facilitating its adoption for network players.
The protocol increases the block size from 1 MB to over 3 MB simply by eliminating digital signatures from the input. These signatures take up a significant volume, 65% in a transaction. Detaching these frees up space for more transactions to be added in a block. Subsequently, more transactions are carried out by fewer blocks on the chain efficiently.
SegWit was initially developed to fix a security flaw concerning transaction malleability on the Bitcoin network. Since the transactional signatures are removed from the input, no fraudulent entity on the network would be able to alter the Transaction ID.
A Twitter user @PESligo commented:
“For me Segwit was not about block size, it was about more efficient code reducing TX fees and more important introducing the technology to allow L2 and many other technologies to Bitcoin. Until a few more Dev’s add their voice I see no need for all this noise.”
The nodes without SegWit implementation can seamlessly execute transactions with the upgraded nodes. Hence, the technology has not been widely embraced. Despite its activation in 2017, the protocol largely remains untouched by most of the network players, both big and small.
Besides, miners are at a loss. The elimination of digital signatures decreases the mining reward. Even when the pros seem to outweigh the cons, SegWit will continue to face serious opposition from major mining players.
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Source: AMB Crypto

Litecoin [LTC] Price Analysis: Token exhibits bullish momentum as prospect of the bear looms

Litecoin [LTC] stands tall as the fourth-largest digital asset on the CoinMarketCap replacing EOS. The silver crypto coin was one of the best performers during the huge surge last weekend. LTC managed to successfully rally up against its resistance.
The digital coin opened at a high of $46.88, reached a low of $42.40 before closing down at a value of $43.18. The volume of LTC traded during the day accounted $1.3 billion.
During the last 24 hours, the pair LTC/BTC has been trending at four exchanges. The pair has been leading at OKEx sweeping a volume of $74.14 million, priced at $43.71. This was followed by Coineal, where the volume traded was registered at $62.04 million, valued at $43.72. The pair was trending third at Dobi Exchange with a volume of $61.93 million at $43.73. Additionally, LTC/BTC reposed at DigiFinex with a volume of $55.19 million at $43.75.
At the time of writing, LTC had been trending at a market cap of $1.3 billion, priced at $43.39. The volume of the digital coin being traded during the past 24 hours stood at $1.16 billion, with a slump of 2.16%.
1-hour:
Source: TradingView
LTC exhibited an upward trend from $33.42 to $43.04 and a downtrend from $46.48 breaking the resistance, then falling to $43.36 in the hourly chart. The resistance is marked at $43.95 and the support at $42.10.
Bollinger Bands: The converging BB suggests low volatility in the price momentum for the coin.
Awesome Oscillator: The lines turning red in AO indicator predicts a possible bearish pattern for the coin.
Chaikin Money Flow: The CMF graph is above the zero-line indicating the coin’s valuation entering a bullish zone.
1-day:
Source: TradingView
LTC showed an uptrend from $55.94 to $33.13 and a downtrend from $46.49 to $32.16. The resistance for the one-day chart has been recorded at $49.31 and that of support at $30.60.
Parabolic SAR: The dotted lines aligned below the candles predicts a bullish pattern for the coin’s valuation.
MACD indicator: The MACD line is above the signal line, further suggesting LTC following a bullish trend.
Klinger Oscillator: The KO indicator suggests a potential bearish cross-over.
Conclusion:
The AO in the hourly chart and KO in the one-day chart predicts the coin steering itself toward the bear zone, however, the CMF, Parabolic SAR and MACD indicator sides with the bull.
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Source: AMB Crypto

Ripple and XRP are not innovative, PoW is still kingpin, claims Tone Vays

There is no denying that the exorbitant computation power required for the execution of mining operations in POW powered digital coins has contributed to the world’s carbon footprint.
Tone Vays, the host of Crypto Scam & Unconfiscatable, slammed Ripple, branding PoW as innovative, tweeted:
“#Ripple is NOT newer, the useless company has been around since like 2002
It’s NOT better, there is absolutely nothing they do that ACH, Swift, PayPal, Venmo, Square & even R3 Can’t (AND w/out the Scammy $XRP token)
@Ripple is NOT Innovative, PoW (aka #Bitcoin) is innovative!”
Ripple has its own patented technology: the Ripple protocol consensus algorithm (RPCA). The US-based currency exchange and remittance network are undoubtedly environmentally sustainable as compared to the ETH and BTC network.
Tony Vays slammed Ripple’s XRP in his tweet:
“A true #Shitcoin(ers) will tell you that u need #Ripple in between that $GBP vs $EUR conversion to
A: Pay another spread to convert to $XRP, move $XRP, pay another spread to convert to Fiat.
AND/OR
B: Pay an $XRP fee to record in a database they claim is decentralized but isn’t.”
In fact, the processing time for GBP to IDR is around 3-4 days with a transaction fee of nearly $40. Interestingly, a cross border transaction via xRapid or xCurrent would be executed in a few minutes at a very low price. The traditional platforms charge over 60% more than the fee charged by the Ripple products for cross-border payment.
The Ripple enthusiasts lambasted Vays telling him to do his research and not distort facts. Its digital asset – XRP, also has other plus points under its hood. A low transaction fee, real-time execution of transactions, and less energy consumption than even the traditional Visa transactions are some of the positive elements of the cryptocurrency.
Ethereum, which is currently based on the POW protocol, will soon upgrade to the PoS model post its Casper implementation. Switching to the PoS from the traditional PoW can be attributed to environmental, efficiency and scalability factors.
Talking about the wastefulness of the Bitcoin network, a Twitter user named Hodor posted:
“I’ve lost track of how many Bitcoin supporters want to ignore its unnecessary reliance on environmentally-destructive proof-of-work mining. It’s up to us to make sure the world knows it has a choice – a very important one!”
Cory Johnson, the former chief market strategist at Ripple, tweeted an image in November last year which showed that XRP consumes 0.01 TWh while Ethereum and Bitcoin consume 19.62 TWh and 68.81 TWh, respectively.
The silver lining, however, to this data is that the carbon footprint contributed by the blockchain tech has reduced considerably. In the last three months, BTC and ETH have been able to cut the consumption level. According to the latest report by a Twitter user- Digconomist, the gold crypto coin utilizes around 49.06 TWh and the silver coin around $7.91.
Qasam Wahid, a Twitter user, criticized Vays and replied:
“In which ways are altcoins less efficient? Just because you hope/believe so it doesn’t make it true. Btc is slow, losing value quickly, and not energy efficient at all. I mean you have to be willfully blind to not see the facts staring you in the face.”
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Source: AMB Crypto

Bitcoin [BTC] supply expansion underway, claims Chinese news outlet; Dismissed as ‘speculation’

Just when the intense debate surrounding the increase in the total Bitcoin supply was fading, Jiang Zhuoer, the founder of the cryptocurrency mining pool BTC.TOP reportedly dropped the bomb on his Weibo handle that the development team of the Bitcoin Core camp has been targeting an increase to the previously set supply of 21 million BTCs.
In a recent report by a Chinese crypto outlet, Bitcoin core supporter Jiang claimed on his Weibo profile that the expansion process was underway. It further stated that:
“In Jiang’s opinion, Matt Luongo is the “mouthpiece” for the Bitcoin Core development team at the roundtable discussion.”
However, Luongo himself had some contrarian views. Matt Luongo, the founder of Thesis, retweeted the article published on the said website and said:
“Can anyone in the Chinese BTC community slide in there and correct him? Both on the big issue as well as the minor character assassination – I especially love the part where folks think I’m claiming to be a BTC core dev”
Previously, Luongo had tweeted:
“I was the guy that said we might have to one day raise the Bitcoin supply cap. Fight me.”
In a series of tweets last week, he clarified that there was no such proposal. The discussion was pure ‘speculations’ of a single person, he said. Further, the CTO of Casa, Jameson Lopp, who was also an attendee at Satoshi’s Roundtable, asserted that he was in the room and did not hear anyone agreeing to the proposal.
Matt Luongo further called out the Chinese tweet in a post stating:
“He’s taking the discussion out of context and pretending that it’s a widely held belief of BTC core devs. It isn’t. No one is seriously proposing raising the supply limit. I was only speculatively discussing how the free market might develop in the future relative to subsidies.”
A Twitter user, @crypto_zl, replied to the article tweeted by the news outlet in question, stating:
“Don’t make a rumor here, can you provide some real news? Shame on the Chinese.”
Luongo claimed that he had suggested an increase in BTC supply on rational grounds. He elucidated that the reward for mining a block halved every four years. So, the magnitude of transaction volume is expected to go down. This would leave very little incentive for the miners to validate the blocks and secure the network. This had not resonated well with the Bitcoin core community and had led to a heated debate online.
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Source: AMB Crypto

Ethereum [ETH] and BTC together stand 45th on the global map of energy consumption levels, says research

It is no myth that cryptocurrency transactions for mining processes require a massive volume of energy. Bitcoin undoubtedly takes the pie, but its silver brother Ethereum is not much behind. The brighter side to this is that the Blockchain carbon footprint is slowly decreasing.
A Twitter user- Digiconomist, in a recent study presented the numbers of Ethereum’s position with regards to energy consumption. He tweeted,
“The latest #Ethereum Energy Consumption Index is 7.737 TWh per Year/0.72 Mil US households (+3.9%)
44.2 KWh per unique transaction (powers 1 US household for 1.5 days) #MakeEthereumSustainable”
Consumption level for Ethereum has increased since February 2014 at a steady pace, exceeding 20 TWh four years later in late 2018. However, the subsequent drop has been pretty impressive. The consumption level fell sharply below 10 TWh early in January this year.
The stats further revealed that Ethereum’s annual consumption of electricity, which is equivalent to the consumption level of the South African nation Angola, is estimated to be 7.91 TWh, of which energy utilized per transaction is estimated to be around 45 KWh. Both annualized global mining revenues, as well as annualized global mining costs stand at a value of $790.6 million. This exorbitant amount of energy could be deployed to power over 732k households.
Ethereum holds 0.04% of the total of the world’s electricity consumption. Bitcoin, which has an annual carbon footprint of over 23 kilo-tonnes, gobbles a considerable chunk of 0.22%.
Bitcoin and Ethereum combined stand at 45th on the world’s map for energy consumption level behind Israel at 43rd and Greece at 44th.
The report further points out that over 4 million households in the US can be powered with the amount of energy used up by the Bitcoin payment network. This is mammoth as compared to the energy consumed by the silver crypto coin which could power a little less than 1 million US households, this too is no glad tiding of joy as a traditional payment system like Visa stands out as the most energy efficient.
Stressing about the magnitude of power depletion, Vitalik Buterin, co-founder of Ethereum earlier this year, asserted:
“That’s just a huge waste of resources, even if you don’t believe that pollution and carbon dioxide are an issue. There are real consumers—real people—whose need for electricity is being displaced by this stuff.”
The persistent energy issues that have plagued mining involved in the POW process will soon be a thing of the past however, as plans to roll out an efficient feature for the silver coin are underway.
To mitigate outrageous energy consumption and for scaling purposes of the mainstream Proof-of-stake [POS] blockchains, Ethereum will soon implement Casper. Currently, Ethereum purely rides on proof-of-work. This new POS upgrade is believed to substantially reduce power utilization by eliminating the miners all together.
In POS, the validators are equivalent to the miners. In sharp contrast however, the validators need to put up stakes [as collateral]. The higher the stakes, the more chances are to be chosen as a validator, which requires no grand computational power to legitimize a transaction on the network.
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Source: AMB Crypto

Litecoin [LTC] Price Analysis: Joy for the market as coin continues to march into the bull’s realm

The newly-minted world’s fourth largest cryptocurrency on CoinMarketCap, Litecoin [LTC], has exhibited a magnificent surge of over 30% last weekend marking its foray into the bull’s realm after a long presence in the bear’s pit. The coin has maintained a steady valuation lately.
The coin opened at a price of $44.76 the very next day. LTC reached a low of $42.40 before reaching a high of $47.09 and finally closing at a value of $46.83.
The pair LTC/BTC has been trending at the exchange DigiFinex sweeping a volume of $92.48 million at a price of $44.30; a volume of $90.77 million at a price of $44.26 on the OKEx exchange. Additionally, the pair is also trending at Coineal with a circulation volume of $90.77 million, valued at $44.26.
At the time of writing, LTC has consistently surged at a pace of 1.15% after the rise. The silver coin is trading with a market cap of $2.68 billion at a valuation of $44.36 with a volume of $1.40 billion coins being traded in the past 24 hours.
1-hour:
Source: TradingView
The one-hour chart for the coin exhibits an upward trend of $32.26 to $43.85 and a downtrend from $46.48 to $44.01. The resistance is marked at $44.11 which is close to the price and that of support is registered at $41.10.
Bollinger Bands: The BB indicator for the time period tends to converge indicating a potential decline in price volatility for the coin.
Chaikin Money Flow: The CMF graph continues to tread well above the zero-line, suggesting money flow into the market, and hence, a bullish trend for the coin.
Klinger Oscillator: The KO indicator heads towards a potential bullish cross-over.
1-day:
Source: TradingView
Litecoin [LTC] recorded an uptrend from $23.27 to $29.72 and a downtrend from $55.89 to $34.33. The resistance registered for this time period is marked at $46.33 and that of support at $32.13.
Parabolic SAR: The dotted line aligned above the candles in Parabolic SAR indicator depicts the coin steering toward a bull zone.
MACD indicator: The MACD line treading above the signal line indicates the coin following a bullish pattern.
Awesome Oscillator: The AO indicator also predicts a bullish trend for the coin with the lines in green.
Conclusion:
The indicators – CMF, KO, Parabolic SAR, AO and MACD, all indicate the coin further treading into the bull zone with potential low price volatility as predicted by BB.
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Source: AMB Crypto

Ripple’s xRapid-powered Coins.ph to integrate with UnionBank of Philippines to launch crypto ATM

UnionBank of Philippines has announced its plans to launch cryptocurrency automated teller machines [ATM] wherein users can trade the digital assets for Philippine Pesos. To execute the launch, the bank will partner with xRapid powered e-wallet and financial services firm, Coins.ph.
Justo A. Ortiz, Chairmen of UnionBank, about the deployment of digital currency ATMs, stated:
“We’re going to put up a Bitcoin ATM in our Ayala Ave. ARK [branch]. The machine is here already,”
Coins.ph has made use of cross-border payment solutions such as cost and time efficiency, scalability, and transparency rendered by xRapid’s platform. Apart from XRP, the other major digital assets supported by the it are Bitcoin [BTC], Bitcoin Cash [BCH] and Ethereum [ETH] so far. This Southeast Asian tech firm is a leading name in the cryptocurrency trading space of the country.
With a customer base of around 5 million, Coin.ph has strived for mass adoption of its app to make banking services accessible even for the natives in remote places leveraging Ripple-xRapid’s blockchain tech at its core.
Ron Hose, CEO and founder of Coins.ph while elaborating about the tie-up with Ripple earlier in August last year, stated:
“We are excited to be partnering with Ripple to bring the benefits of blockchain technology to cross-border payments, making sending money home more affordable for 10M+ overseas Filipino workers.”
This development unfolded days after the cryptocurrency regulatory framework was issued in the country through Cagayan Economic Authority Zone. The rules named – Digital Asset Token Offering (DATO) were created with the fundamental aim to bolster innovation in the crypto space and catapult mainstream adoption of the digital asset, all while safeguarding the interest of investors.
In a country where more than 70 percent of the adults don’t hold any bank accounts, striding into the world of crypto by integrating the traditional banking establishment and digital assets, is indeed a big step.
The post Ripple’s xRapid-powered Coins.ph to integrate with UnionBank of Philippines to launch crypto ATM appeared first on AMBCrypto.
Source: AMB Crypto

Litecoin [LTC] Price Analysis: Token surges by 30%; bullish momentum to continue

After an incessant period of declines, all the cryptocurrencies listed on the CoinMarketCap are blazing green apart from a few losers. However, a big chunk of it is credited to the massive bullish effect by Litecoin [LTC], which pumped over 30% in the last 24 hours.
Currently, the fourth-largest digital coin in the world after replacing EOS, LTC has been escalating since late Friday mounting to a market cap of $2.65 billion.
The crypto coin, as recorded on Friday, opened at a valuation of $33.24 and closed at $43.46. LTC retraced back to a low of $33.01 before shooting up to a high of $43.90, breaking resistance at different levels.
At the time of writing, LTC had been trending with a market cap of $2.71 billion, priced at $4.52. The total volume of the coin traded during the last 24 hours has been registered at $1.95 billion.
1-hour
Source: TradingView
LTC escalated significantly from $33.41 to $42.62, along with a small downward trend from $33.91 to $32.74. If the coin continues to tread upwards, breaking all the previous set resistance, it can retrace its valuation to the time it exhibited a ballistic rise of over $55 in November, last year. The support marked for this time phase for LTC is at $42.52.
Bollinger Bands: The BB indicator for this time period suggests a massive fluctuation, with the bands diverging and hence a highly volatile price momentum of LTC, can be anticipated.
Awesome Oscillator: The AO indicates a bullish phase for the coin’s valuation, with the lines turning green after a brief bearish stint.
Klinger Oscillator: The KO indicator predicts a bearish trend for the coin, with the reading line hovering below the signal line.
1-day
Source: TradingView
For the one-day time period, LTC exhibited an uptrend from $23.24 to $29.81 and a downtrend of $55.83 to $33.24. The resistance is marked at $48.92 and the support at $32.36
Parabolic SAR: The dotted lines aligned below the candles depict a bullish phase for the coin.
Chaikin Money Flow: The CMF graph is well above the zero-line, suggesting an inflow of money to the market and hence a bullish trend.
MACD: The MACD line is above the signal line, further predicting the coin’s bullish momentum.
Conclusion:
PR, CMF, MACD and AO indicators all predict a coin’s future to be in a bull zone.
Charlie Lee, Litecoin creator and managing director of Litecoin foundation, on his official Twitter handle, posted:
“Litecoin trying its best to lead all of cryptocurrencies out of this bear market.”
The post Litecoin [LTC] Price Analysis: Token surges by 30%; bullish momentum to continue appeared first on AMBCrypto.
Source: AMB Crypto

Bitcoin [BTC] dominated by stablecoins with regards to market opportunity: Satoshi Capital research

Stablecoins come into the picture at a time when the massive fluctuation of digital assets impedes their application. A recent report called ‘Stablecoins: The new bank account’ has revealed an optimistic time ahead for these stablecoins. The digital coins pegged with fiat or gold have contributed to the disruption of traditional payment space.
Satoshi Capital Research on its Twitter handle posted:
“[New Research] — Stablecoins: The New Bank Account
Stablecoins are digital tokens that represent national currencies and are issued using a variety of bitcoin-based technologies, representing an $18 trillion market opportunity.”
The research suggests that the total market opportunity for stablecoins exceeds $18 trillion while that of Bitcoin [BTC] stands at somewhere around 15 trillion. The colossal difference between stablecoin and conventional banking institutions is that it provides a payment processing channel that is time and cost efficient.
A significant edge that pegged currencies have over traditional banking accounts is that anyone can access and transfer funds in real time with no transactional fee involved.
The processing fee and time in terms of stablecoin is nil. On the other hand, the processing time for US domestic transfers takes around 24 hours at a fee of $20 per transaction and cross-border payment accounts for a processing time of 48 hours at a fee of $40 per transaction.
Tether [USDT] has been the stablecoin that has been around for the longest time, since its inception in 2014, and it continues to dwarf the newer stablecoins in the market. The research exhibited the numbers which backed Tether’s dominance over recent players [like TrueUSD, Paxos Standard Token, Gemini Token, among others] in the space.
The entire stablecoin space’s valuation despite the entry of new players in 2018 stood at more than $700 million while the traded volume totaled at more than $11.5 billion.
Tether [USDT] had an issued value of $2,036 million. The cumulative daily trading volume of the oldest stablecoin had been registered at $ 2,950 million and the trading volume for the year 2018 totaled at $1,080 billion.
The report also mentioned a whopping a $600 trillion transfer volume of stablecoins in 2018 via Domestic bank transfer, out of which Tether [USDT] scooped a significant $109 billion volume, a 624% increase in its share from its $15 billion volume the year before.
Stating that this breed of digital asset is efficient as a parallel currency mainly due to its digital nature, the report asserted:
“To people operating within parallel currency economies today, such as Venezuela, stablecoins offer meaningful competition to traditional bank accounts as there are no limitations on currency denominations or transfer amounts and frequency.”
Despite being a critical contender, stablecoins have a long way to go with respect to its offerings to compete with traditional banking establishments in a mainstream scenario.
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Source: AMB Crypto