Bitcoin.com’s Roger Ver may get served with legal notice from Gregory Maxwell

The co-founder and former Chief Technology Officer [CTO] of Blockstream Bitcoin Core [BTC], Gregory Maxwell is seeking legal relief against Bitcoin Cash proponent and the Chief Executive Officer [CEO] of Bitcoin.com, Roger Ver, over a libel.
The said legal relief will be sought by Maxwell on the grounds of the libelous accusation made by Roger Ver on Reddit, reported Coingeek. In the subreddit r/Bitcoin, Ver claimed that Maxwell “may have been involved with the hacking and vote manipulation false flag ‘attack’”. Ver went ahead and called Maxwell “a crook.”
Maxwell did not take Ver’s statement lightly, and sent a response to Ver stating,
“As I previously warned, if you or your staff continued to post untruthful malicious defamation about me I would take legal action against you and your companies.”
Maxwell added:
“I see you have again posted an outrageously untrue claim that I engaged in unlawful and unethical behavior, relying on your privileged position as moderator of the subreddit to fraudulently convince others of the truthfulness of these untrue claims.”
Maxwell did not stop at that and warned the CEO of Bitcoin.com to retain all records and communication related to him. Maxwell concluded the note by saying:
“I regret that [it] has come to this, but your continued violence against me offers me no alternative.”
According to the publication, Maxwell offered assistance to Dr. Craig Wright and nchain. In a mail, Maxwell wrote that he understands how Roger Ver, Rick Falkvinge, Olivier Janssens, and Jihan Wu have been “attacking you in public and trying to distance BCH from you.” Maxwell further added that all of them previously believed in Wright as per his knowledge. Maxwell continued in the mail stating:
“The cracks created by Peter Rizun and his staff seem to be widening at an exponential pace and are now starting to encompass people (such as the above) that previously couldn’t be convinced by any argument to align against you. It seems to me that it is simply a matter of time before a forceful public denunciation by someone previously cited as proof of your merit, such as Gavin, brings things crashing down around you.”
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Source: AMB Crypto

India: Banks ask customer to sign consent form over cryptocurrency regulation breach

The cryptocurrency market in India has not been up and running and maybe a far fetched dream at the moment. The banks in the country are also taking all step possible to prohibit their customers from using their services for cryptocurrency transactions. Recently, HDFC bank joined the wagon of banks forcing their customers to sign a contract.
Source: Twitter
According to Twitter user Crypto India YT, the HDFC bank made their customer sign a consent form after tracking some crypto trading activities. As per the Twitter user, the bank asks the customer to come to the bank and sign a form where they consent to the bank’s decision of shutting their account if they continue with crypto trading. An excerpt from the letter read:
“I/We authorize the bank to close the above account without any further notice if it is observed in future that transactions have been carried out for Bitcoin/ virtual currencies.”
Previously, many crypto-users in India had called out Kotak bank and Digibank for forcing the customers into signing the terms and conditions that forced the users to not do any transactions related to cryptocurrency. Recently, Kotak bank was in news, as it sent a notice to the account holder who had made a certain transaction in crypto, of shutting down the account within 30 days. The statement from the bank read:
“We have observed few transactions in your account with brokers / traders, dealing in virtual currencies. Since these types of transactions are not permitted in India, we are constrained to place a credit freeze in your account. Further as per the extant guidelines, we are required to exit such relationships where transactions with brokers / traders, dealing in virtual currencies are observed.”
However, the crypto-users have found a way to hack the system and continue the way they use their bank accounts without being flagged. The users informed the crypto community in India to not mention terms in relation to cryptocurrency while performing any transactions.
The Chief Executive Officer [CEO] of crypto exchange in India WazirX, Nischal Shetty told the publication:
“Majority of the people understand not to enter such terms in the remarks. So simply avoiding entering anything related to crypto in the payment remarks is more than enough to avoid any problems from banks. There’s no other way for banks to know if a P2P transaction was done to transact in crypto.”
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Source: AMB Crypto

Bitcoin [BTC] Technical Analysis: Bear weathers the coin down

The cryptocurrency market is seen to have a sideways movement, with the major coins seeing the vermillion side of the market mostly. Bitcoin [BTC], the largest-cryptocurrency in the market, is also seen to have a similar trend.
At the time of press, the coin was valued at $3,563.14, with a market cap of $62 billion. The coin registered a 24-hour trade volume of $4.8 billion, with a dip of 0.75% over the past day. The coin has registered a fall of 3.69% over the seven days and is still falling by 0.09% in the past hour.
1-hour
Source: Trading View
The one-hour chart of Bitcoin indicates that the coin had been falling from $3,599.12 to $3,514.04, the coin noted another significant downtrend from $3,690 to $3, 529.55. The coin failed to register any significant uptrend in the one-hour chart. The coin marked a resistance at $3,549.21 while strong support was provided at $3,519.52.
Bollinger Bands appear to have formed a tube-like formation, indicating lesser volatility in the market. The moving average line is above the candlesticks marking a bearish market.
Awesome Oscillator also marks a bearish market, but as per the recent trends, this might also be short-lived.
Chaikin Money Flow, on the other hand, points towards a bullish trend as the marker is above zero.
1-day 
Source: Trading View
The one-day chart of BTC also shows a massive downtrend from $6,146.01 to $3,380.01, with another downtrend marked from $6,293.38 to $3,703.39. Even the one-day chart could not trace a viable uptrend. The resistance is marked for the coin at $4,075.34 and the support is noted at $3,183.
Parabolic SAR indicates a bearish market as the markers have aligned above the candlesticks.
MACD line is under the signal line, pointing towards the bear’s stronghold on the market.
Relative Strength Index indicates that the buying and the selling pressures are evening each other out.
Conclusion 
The indicators Parabolic SAR, MACD, Bollinger Bands, and Awesome Oscillator point towards a bearish trend for the BTC market. However, Chaikin Money Flow predicts a bullish market. The coin has to fight the bear to take up any bullish trend.
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Source: AMB Crypto

Tron [TRX] spikes by 9% over the day; only green coin on top-10 list

The ninth-largest cryptocurrency, Tron [TRX], saw a sudden hike on January 21. While all other major cryptocurrencies have fallen prey to the bear, Tron is currently showing a bullish trend. The coin is not suffering as bad as the other coins on the list, mainly because of all the projects and developments announced by the Tron Foundation, to keep the market sentiment in favor of the coin.
Source: CoinMarketCap
At the time of press, the coin saw a growth of 9.69% over the past hour, with a market cap of $1.7 billion. The coin registered a maximum trading volume of $291 million, with a dip of 0.45% in the past hour. TRX is the only coin in the top-10 cryptocurrencies list of CoinMarketCap that, at the time of press, registered a growth of over 2% in the past seven days.
The ninth-largest coin was highly traded on BitForex, with a trading volume of $40.8 million with the TRX/USDT pair. BitForex was followed by UPbit, as it recorded a volume of $35 million with the TRX/KRW pair. The third place was taken by Binance. The exchange recorded a volume of $27 million with the TRX/BTC pair.
Tron’s major development, at present, is BitTorrent, which was announced in 2018, in order to create the largest decentralized ecosystem. The Foundation recently announced the launch of BitTorrent [BTT] token. The founder and Chief Executive Officer [CEO] of Tron foundation, Justin Sun, has been very open to inform the community about every single step taken by the Foundation. The BitTorrent Foundation also joined the wagon and revealed more details about the BitTorrent airdrops for Tron holders:
“On February 11th, 2019, BitTorrent Foundation will initiate its first airdrop of BitTorrent (BTT) to TRON (TRX) holders. The snapshot will be taken when TRON’s block height reaches 6.6 million*. Based on this snapshot, BitTorrent Foundation will initiate its first airdrop of 10,890,000,000 BitTorrent (BTT), corresponding to 1.1% of total circulating supply.”
The Foundation made a claim that over the course of the year, 11,880,000,000 BTT will be offered to TRX holders. The Foundation also noted that following the airdrop 12,870,000,000 BTT will be deposited via airdrop in 2020. BitTorrent also added:
“If you are holding TRX, you will be eligible for BTT airdrops. All official wallets relaying on TRON’s network and carrying TRX will be eligible for BTT airdrops corresponding to the amount they are holding. No minimum of TRX is required to qualify for BTT airdrops.”
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Source: AMB Crypto

Tron [TRX] Technical Analysis: Coin rides the pastures with the bull

All major cryptocurrencies on the CoinMarketCap list, have been suffering from the bear’s attack for the last few days. The coins, at the time of press, are trying to recover, but with the current growth, it looks like a slow recovery, similar is the case of Tron [TRX]. The ninth-largest cryptocurrency has been putting a strong fight with the bear and has been wounded a bunch of times.
At the time of press, the cryptocurrency was valued at $0.0240, with a market cap of $1.6 billion. The coin registered a 24-hour trade volume of $148 million, with a fall of 1.68% over the past day. The coin has recovered by 1.02% over the past hour and by o.74% over the past week.
1-hour
Source: Trading View
The one-hour chart of the coin indicates a massive rise in the price of the coin from $0.0215 to $0.0235. However, the coin also saw a downtrend from $0.0251 to $0.0242. The coin registered resistance at $0.0250 with support marked at $0.0235.
Awesome Oscillator points towards a weakening bullish market.
Bollinger Bands appear to be diverging after a narrow convergence, increasing the volatility in the market. The moving average line is under the candlesticks, a marking a bullish market.
Chaikin Money Flow also indicates a bullish market, with the marker above zero.
1-day
Source: Trading view
The one-day chart of the coin tells a different story. The coin reported a massive downtrend from $0.0338 to $0.0213. The coin also registered a recent uptrend from $0.0132 to $0.0215, which extends further to $0.0237. The resistance was marked at $0.0287 with support noted at $0.0237.
Parabolic SAR indicates a bearish market, as the markers have aligned themselves above the candlesticks.
MACD line is under the signal line, pointing towards a bearish trend.
Relative Strength Index indicates that the buying and the selling pressures are evening each other out.
Conclusion
As per the indicators, Awesome Oscillator, Bollinger Bands, and Chaikin Money Flow are predicting a bullish market. However, the indicators, Parabolic SAR, and MACD forecast a bearish run. Goin by the majority, a bullish trend could be nearing.
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Source: AMB Crypto

Binance, BitMex most-secure exchanges; Bithumb, DOBI among least-secure exchanges, finds CER research

The cryptocurrency market has been amidst dark clouds recently, with the market being mauled by the bear and many exchanges suffering attacks from hackers. These two factors have resulted in the loss of huge sums of money for multiple exchanges and cryptocurrency investors. Market sentiment was also swayed by these developments, with many enthusiasts and analysts equally voicing how cybersecurity must be taken much more seriously by mainstream exchanges.
A new research by Cryptocurrency Exchange Ratings [CER] assessed the security of the top-100 exchanges [according to CoinMarketCap] and rated them based on their Cyber Security Score [CSS], an assessment system which grades the cybersecurity parameters of exchanges on a 10-point scale.
According to the research, a total of $1.3 billion was stolen from cryptocurrency exchanges in the year 2018. The data was collated by the CER team based on a comprehensive assessment model for security audits, that consisted of three components:

Server Security
User Security
Ongoing Crowdsource Security Assessment [OCSA]

Source: Crypto Exchange Ranks
As per the data collected by the researchers of the distribution by CSS, only nine exchanges scored above eight points out of ten. The exchanges that topped the list with flying colors were Kraken, and Coinbase Pro, followed by Binance and BitMex on the third place. However, the popular exchanges like Bithumb [98th on the list], DOBI [93rd on the list], ZBG [96th on the list], Coincheck, and Zaif were rated as the worst CSS performers.
Source: Cryptocurrency Exchange Ranking
As per the research paper, the three most problematic factors for crypto exchanges were:

The existence of Bug Bounty programs
DNSSEC record
HTTP Headers

Source: Crypto Exchange Ranks
Out of the three problems, DNSSEC record and HTTP Headers were the security aspects of the security servers. Furthermore, the Bug Bounty program, a program designed to offer rewards to individuals for finding errors, vulnerabilities or bugs in the security systems of exchanges, had the worst results.
The data reflects that only 13% of the trading platforms have ongoing bug bounty programs, which are substantially reliable. Even out of this, 6% host the program on their own, while 7% use specialized platforms, like HackenProof or Bugcrowd, to serve the purpose.
Source: Crypto Exchange Ranks
DNSSEC protocol, or The Domain Name System Security Extensions, uses public key encryption to authenticated DNS servers. This is used to prevent the usage of forged or manipulated DNS data. However, it the second-largest dissatisfied factor by exchanges. The research claims that 60% of the analyzed platforms do not have appropriate records for their domains.
Source: Crypto Exchange Ranks
The last matter of concern is the HTTP Security Headers. The research examined security-related fields in the header section of HTTP request and response messages. If installed correctly, it can prevent malicious actions like man-in-the-middle and cross-site scripting attacks.
However, after checking seven headers, it was concluded that 59% of the exchanges had missed six to seven of them, while 17% missed four to five. Only 13% managed to miss just two to three headers, leaving a mere 11% of the exchanges missing just one header.
Earlier this month, Cryptopia, a cryptocurrency exchange based in New Zealand, had announced that they have lost funds due to a security breach. The exchange platform continues to be under maintenance and the amount that was compromised by the hack has still not been disclosed by the team.
Under such circumstances, when exchanges are being hacked rampantly, the research provides a detailed insight into what each exchange lacks and where it can improve.
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Source: AMB Crypto

Biggest losers: Ethereum [ETH], Litecoin [LTC] and Bitcoin Cash [BCH] slump by 5%

The cryptocurrency market has once again succumbed to sideways movement and has now suffered a bear attack. As of January 21, major coins seem to be in a bad shape as many have fallen over 5%, at the time of press. The top losers of the market are Ethereum [ETH], Litecoin [LTC], and Bitcoin Cash [BCH].
Ethereum
Source: CoinMarketCap
According to the one-hour chart, Ethereum [ETH] the third-largest cryptocurrency, was valued at $117.23, with a market cap of $12 billion. The coin registered a 24-hour trade volume of $2.7 billion, with a fall of 5.95% over the past day. The coin has been falling over the past seven days by 0.97% and is still falling by 1.29% within the past hour.
The coin was highly traded on Bibox with the EOS/ETH pair. It reported a volume of $98 million. Bibox took the second place too with the ETH/BTC pair, and registered a volume of $94 million. The third place was taken by DOBI Exchange, with a volume of $89 million with the ETH/BTC pair.
Litecoin
Source: CoinMarketCap
Litecoin [LTC], the eighth-largest coin, was valued at $31.24, with a market cap of $1.8 billion at the time of press. It registered a 24-hour trading volume of $588 million, with a fall of 5.51% over the past day. The coin registered growth in the past seven days by 1.65%, but is falling at the time of press, by 0.05% over the past hour.
The coin registered a maximum trading volume on ZB.COM, with a trading volume of $80 million on the LTC/USDT pair. The second place was taken by OKEx, with a trading volume of $29 million on the LTC/USDT pair. The third place was taken by OKEx on the LTC/BTC pair and the volume registered was $27 million.
Bitcoin Cash
Source: CoinMarketCap
The fourth-largest coin, Bitcoin Cash [BCH], was valued at $122.91, with a market cap of $2 billion. The coin registered a 24-hour trade volume of $213 million, with a fall of 5.43% over the past day. The coin plunged even on the seven days chart by 2.89% and is still not recovering, as it dipped by 0.70%.
The coin registered a maximum trading volume on P2PB2B, with a trading volume of $16 million on the BCH/USD pair. Second on the list was P2PB2B with the BCH/BTC pair, registering a volume of $15 million. The same exchange took the third place too, with a volume of $14 million with the BCH/ETH pair.
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Source: AMB Crypto

Bitcoin ATM to be launched in Venezuela amidst Petro commotion

The Venezuelan government is pushing state-backed cryptocurrency, Petro, which was created by the Nicolas Maduro-led Venezuelan government. However, the cryptocurrency has been largely criticized by its citizens mainly because of the lack of oil that Petro is supposed to be linked to.
However, the people have shown interest in using the world’s largest cryptocurrency, Bitcoin. The people of the country have been using Bitcoin at various places, as they lose faith in their banking system and their own currency, reported blockmanity. The only thing lacking is an ATM which is about to change as the country is installing a BTC ATM.
Cryptocurrency ATM manufacturer, CryptoBuyer is preparing to install Venezuela’s first Bitcoin ATM. The publication reported the announcement made by the company’s Chief Executive Officer [CEO], Jorge Farias on a Union Radio podcast. This ATM will be installed in Caracas and will be inaugurated in the coming two weeks. Farias said:
“We are going to install the first cryptocurrency ATM in Venezuela, in the course of the next two weeks (…), we already have the equipment physically installed in Venezuela, in Caracas and they are in their final tests and we will be announcing them in social networks”.
The users will put the cash amount in the ATM, which will then transfer the value of that cash to the user’s crypto wallet instantly. The company will be undertaking the job of educating Venezuelan people about Bitcoins and the operations of the ATM. The CEO added:
“These tools are much easier to use than regular ATMs”.
Recently, the government had announced to raise the value of the state-backed cryptocurrency to 36,000 sovereign bolivars. According to the statement made in a video, the increase and a higher minimum wage are aimed to combat the “criminal dollar”.
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Source: AMB Crypto

XRP Technical Analysis: Bear takes over the bull’s green pastures

The cryptocurrency market has been going through ups and downs, but has not witnessed anything shocking in terms of market movement. The second-largest coin, XRP has also seen sideways movement. However, there was a tiff between XRP and Ethereum for the second position, which won its place back.
At the time of press, the coin was valued at $0.3262, with a market cap of $13.3 billion. XRP registered a 24-hour trade volume of $398 million, with a dip of 0.45 % over the past day. The coin has been falling for the past few days and has recorded a fall of $2.01%, and is not showing any recovery as it falls further by 0.16% over the past hour.
1-hour
Source: Trading view
The one-hour chart of the coin registers a downtrend from $0.3353 to $0.3205, followed by a sudden spike. The coin then noted a massive downtrend from $0.3426 to $0.3317. The coin registered a resistance at $0.3317, and strong support was observed at $0.3256.
Awesome Oscillator marks a bearish market with a faded momentum.
Bollinger Bands appear to diverge, increasing the volatility in the market. The moving average line is under the candlesticks indicating a bullish market.
Chaikin Money Flow is above zero, indicating a bullish market.
1-day
Source: Trading View
The one-day chart of the coin marks a gradual uptrend from $0.3674 to $0.5649. The chart also noted a recent downtrend from $0.5157 to $0.3760, with a resistance marked at $0.3760. The coin marked a strong support at $0.2903.
Parabolic SAR indicates a bearish market as the markers have aligned above the candlesticks.
MACD line is under the signal line, marking a bearish market.
Relative Strength Index indicates that the buying and the selling pressures are evening each other out.
Conclusion
As per the indicators, Awesome Oscillator, Parabolic SAR and MACD, a bearish trend is will be carry forwarded. However, Bollinger Bands and Chaikin Money Flow indicate a bullish run, but the majority of the indicators side by the bearish reign.
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Source: AMB Crypto

Korean cryptocurrency exchange, Komid’s leaders suffer imprisonment of charges of fraudulent transactions

Recently, there was news of many new entrants hurrying into launching crypto due to uncertainty in regulations in South Korea. However, two leaders from the Korean cryptocurrency exchange Komid were arrested for their roles in fraudulent trading volume reports on their platform.
According to Blockinpress, the leaders were sentenced to serve jail time for the crime. The Chief Executive Officer [CEO] of the company recognized as Choi received a 3-year sentence, while Park, another leader was sentenced to 2-year sentence for fraud, embezzlement, and misconduct.
As per the reports, the prosecutors outlined the charges as a scheme wherein the two defendants fabricated 5 million transactions on their platform to cheat the investors into thinking that the volume projected was legitimate which earned them $45 million. Some are suggesting that the two leaders used “bot” to automatically create large orders which pulled in new users.
The judge was quoted by the publication saying:
“Choi has committed fraud for a countless number of victims for a long period of time…. Furthermore, he holds the financial authorities responsible for failing to keep track of the industry better.”
The defendant, Park told the story of their wrongdoings and said:
“Choi entered false orders, then we repeated the process and fooled investors into thinking the transactions were authentic, organic trades.”
South Korea is going through a regulatory uncertainty despite the high demand and a profitable business model, many new cryptocurrency exchanges are prepping to launch in the country. According to Bitcoin news, ten crypto platforms are expected to be functioning for business in the first half fo 2019. Komid was one of the early exchanges to launch in the month of January itself.
According to reports by Bitcoin news, the primary reason of companies indulging in crypto was due to high virtual currency commission income. The source of the publication said:
“In the case of Upbit and Bithumb, the largest exchanges in Korea, daily average commission income is estimated at 3.6 billion won and 2.6 billion won, respectively.”
Recently, even UPbit was accused of similar charges of fraud and even some of its executives were charged with creating fake membership accounts and manipulating the accounts.
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Source: AMB Crypto

Tron [TRX]’s Justin Sun: We want to become the most famous brand in the world

In almost a month’s time, Tron [TRX] has managed to grow multifold by doubling its value and become the ninth the largest coin on the CoinMarketCap. At the time of press, the coin was valued at $0.0250 with a market cap of $1.6 billion. The coin has a 24-hour trade volume of $175 million with a growth of over 2% in the past 24 hours. The coin has, however, slipped by 0.10% over the past hour.
The Chief Executive Officer [CEO] of Tron, Justin Sun is in the middle of all that the company has to offer, especially its much-awaited niTRON summit, a Tron sponsored conference in San Francisco. The conference begins today and features stars like former NBA star Kobe Bryant as keynote speaker, along with Sun and an executive from Swisscom AG, a $25 billion telecommunications company, reported Bloomberg.
Sun, recently bought the file sharing application BitTorrent for $120 million in 2019. The announcement of BTT tokens which runs on the Tron and BitTorrent networks has proved to be beneficial for the company as the demand increased for the coin. The Chief Executive Officer [CEO] at researcher Messari Inc. said to Bloomberg in an e-mail:
“A lot of people wrote off Tron as all hype/marketing and no substance, but they made a lot of noise with the BitTorrent acquisition, and now I think it’s an open question of whether they will be one of crypto’s most high profile ‘fake it til you make it’ success stories,”
The CEO also added:
“It’s been wild to watch.”
Along with the company, Justin Sun is becoming popular as the face of the company and increasing following on the social media site, Twitter. Sun told the publication in an interview:
“We want to become the most famous brand in the world”.
Sun elaborated saying when someone thinks about cryptocurrency, Tron will be the first one, while drawing parallels to the popularity of Bitcoin [BTC]. While the smallest unit of Bitcoin is called Satoshi, after its creator, Tron’s smallest unit is called sun after Justin Sun. As per Sun, Tron had raised $70 million in Initial Coin Offering [ICO] which is largely untouched.
Sun shared a similar vision for BitTorrent and so do many others. Justin Knoll, head of the BitTorrent project said to the publication that their goal is to convert all the 100 million monthly users of BitTorrent into cryptocurrency users. BTT could be used to increase the download speed of the movies, and tip the performers, but eventually it will be used for paying for site storage, informed the head of the project. Sun had informed that BitTorrent is profitable and is generating around $25 million in revenue per year.
The aim of the company is to increase the number of distributed apps, such as games running on their network. Tron currently has 107 Dapps compare to Ethereum’s 1,374 as per DappRadar. However, this number will increase as Sun recently announced up to $100 million funds for developers who are creating Tron gaming apps.
Tron also claims to have much faster transaction times compared to Ethereum as it uses a different mechanism for verifying transactions. Tron’s 27 super representatives produce the blocks that are then voted for by the account holder of the cryptocurrency. Ethereum, on the other hand, uses miners to verify transactions, which also now moving to the proof-of-stake system. Sun said:
“Converting to PoS is a huge effort. It’s like moving a building a block away. It might be easier to tear down the building and rebuild it. It doesn’t work that way. For Ethereum, it may cost them a year or two to migrate, and that seems optimistic.”
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Source: AMB Crypto

Tron [TRX] Technical Analysis: Coin falls into the bear trap

The past few days have been very difficult for the cryptocurrency market. The market is on a sideways movement with sudden fall and recovery in a day’s time. Tron [TRX], the ninth largest coin, has been following a similar pattern. However, it has been competing head-to-head with other major coins.
According to CoinMarketCap, the coin was valued at $0.0245 with a market cap of $1.6 billion. The coin registered a 24-hour trade volume of $146 million and notes growth by 1.85% over the past 24 hours, however, it is still falling by 0.08% over the past hour. The coin has recorded a growth of 7.79% over the past week.
1-hour
Source: Trading view
The one hour chart of the coin reflects a downtrend from $0.0262 to $0.0232, after which the coin noticed an uptrend from $0.0215 to $0.0245. The coin has marked resistance at $0.0248 while support seems strong at $0.0245.
Bollinger Bands is at a converging point, indicating a decreased volatility in the market. The moving average line is observed to be above the candlestick marking a bearish trend.
Awesome Oscillator points towards a bullish market losing momentum.
Chaikin Money Flow indicates a bearish market as the marker is under zero.
1-day
Source: Trading View
As per the one day chart of the coin, a downtrend was noted from $0.0181 to $0.0119, after which it started to hike from $0.0131 to $0.0215. The coin has not marked a new resistance at the time of press, as it has broken its earlier resistance at $0.0287. The coin marked strong support at $0.0215.
Parabolic SAR indicates a bearish market as the markers aligned themselves above the candles.
MACD line is under the signal line pointing towards a bearish market.
Relative Strength Index indicates that the buying and the selling pressures are evening each other out.
Conclusion
As per the indicators, Parabolic SAR, MACD, Bollinger Bands, and Chaikin Money Flow the market is bearish but Awesome Oscillator predicts a bullish market. However, going by the majority, the chances of a bear market is higher.
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Source: AMB Crypto

Grin [GRIN]’s great fall: The new privacy-oriented coin plummets by 97% within a day

Grin, the new privacy-oriented cryptocurrency launched on Tuesday, January 14, has been what most cypherpunks have been wanting. The coin has been developed using the technology known as mimblewimble.
Many groups of investors and miners were closely watching the coin from the day of its launch. Eric Meltzer of Primitive Ventures mentioned about the Grin’s launch in his Proof-of-Work newsletter in the previous week. He had written:
“There is (by our conservative estimates) 100 million dollars of mostly VC money invested into special-purpose investment vehicles to mine Grin. This does a lot of weird things: it turns a bunch of people who would have been buyers of grin into sellers of it, it changes the composition of the early holder roster, and it means the chain will launch with an extremely high degree of security via high PoW hashrate.”
However, within a few days of its launch, the coin has now fallen massively. At the time of press, the coin was valued at $10.94, with a market cap of $1.11 million. The coin registered a 24-hour trade volume of $149,000, with a steep fall of 95.8% in the past 24 hours.
The coin reported a 24-hour high at $261.65%, while a 24-hour low of the coin was marked to be $4.60. The coin fell by 97% of its original value within a day, which is staggering as it was branded as “the thing that comes closest to bitcoin” by a partner at a crypto investment firm on the basis on anonymity to CoinDesk. The source also added:
“In a lot of investors’ minds it kind of pattern-matches to ‘bitcoin 2.0.’”
However, as per sources, there were many large funds shopping for hash power before Grin’s launch. As per Wan, there will be some disappointment. Even though the massive interest in protocols is compelling, she doesn’t think that early mining is a good idea. She wrote:
“Grin won’t be profitable, especially early on.”
According to the Block, the token’s hashrate is 285.6k graphs/s. An equivalent of 146,500 GTX 1060 6GB or the equivalent of 88,200 GTX 1070 Ti 8GB are currently mining Grin.
Twitter users were not behind in following the news of Grin’s performance within a day. As The Block announced the hashrate of the token a twitter user, @HabichtJonathan commented on the coin’s performance:
“And lost like 99% of its value a day after launching.”
At the moment, 1BTC is equivalent to 470.26 Grin, which was used a shield by another Twitter user @csakzozo, who compared Zcash to BTC and said:
“1 ZEC=25 BTC :P”
Grin was the ideal coin that many cypherpunks were looking forward to but the current performance of the coin is saying otherwise. Many followers of the crypto world acknowledged the impressive technology used for the coin but dismissed it almost immediately. Twitter user @stephanlivera said:
“Grin may have interesting tech, but monetarily it’s still a shitcoin. To displace Bitcoin, new coins can’t just be better on one aspect (eg privacy), they have to be better on the whole.”
While @hodlonaut had an interesting insight for people who thought that the coin will appreciate against Bitcoin as he said:
“Buying Grin probably means you think it will appreciate against BTC.
Grin will print 27million coins every year. It’s inflation rate will go from 400% in 3 months, to 100% in a year. Bitcoin inflation will go from around 3.8% now, to 1.8% in 2020. Good luck out-SoV’ing Bitcoin.”
The performance of the coin stands true on Wan’s prediction of Grin not doing well early on.
The post Grin [GRIN]’s great fall: The new privacy-oriented coin plummets by 97% within a day appeared first on AMBCrypto.
Source: AMB Crypto

Litecoin [LTC], Stellar Lumens [XLM] fall down the top-10 list as Tether [USDT] makes it to sixth position

The cryptocurrency market has been going through a rough time after a small bullish run last week. A majority of the major coins have fallen, at the time of press. Litecoin [LTC] and Stellar Lumens [XLM] have slipped down the top-10 list following the fall.
LTC and XLM have been fighting for the sixth position on the CoinMarketCap list for a long time, and finally have settled on the eighth and the seventh positions, respectively. Tether [USDT], the stable coin, now rests on the sixth position.
Source: CoinMarketCap
At the time of press, LTC was valued at $31.3, with a market cap of $1.8 billion. The coin reported a 24-hour trade volume of $532 million, with a fall of 0.50% over the past hour. The coin has been falling since the past few days as it registered a dip of 16.75% in the past seven days, while registering a minimal recovery of 0.20% in an hour.
LTC was highly traded on OKEx, as it reported a volume of $49 million with the LTC/BTC. OKEx was followed by ZB.COM, which registered a trading volume of $46 million with the LTC/USDT pair. The third place was taken by DOBI Exchange, as it noted a volume of $36 million with the LTC/BTC pair.
Source: CoinMarketCap
As per the one-day chart of XLM, the coin had fallen by 0.83% over the past day, with a market cap of $2 billion. The coin registered a 24-hour trade volume of $88 million, with a fall over seven days of 13.40%. It is still falling by 0.29% over the past hour.
The coin was largely traded on ZB.COM exchange. The trade volume registered by the coin on the exchange was $19 million with the XLM/USDT pair. ZB.COM was followed by Exrates, which registered a volume of $12 million with the XLM/BTC pair. The third position in terms of trading volume was acquired by BCEX, as it registered a volume of $7 million with the XLM/BTC pair.
The post Litecoin [LTC], Stellar Lumens [XLM] fall down the top-10 list as Tether [USDT] makes it to sixth position appeared first on AMBCrypto.
Source: AMB Crypto

Tron [TRX] open for perpetual swap trading on OKEx and other exchanges

The ninth largest coin on the top 10 cryptocurrency list, Tron [TRX], has been going through some ups and downs recently. However, the Tron foundation is filling in the gaps with its other activities and fulfillment of agendas. This has led to the coin to be listed by many exchanges including Coingate. The coin was recently open for marginal trading on OKEx, as of today, the coin is open for perpetual swap trading. The platform informed about this saying:
“We have launched the Tron (TRX) perpetual swap at 10:30am Jan 16, 2019 (CET, UTC+1).”
Tron’s Chief Executive Officer [CEO] expressed his gratitude on Twitter to the people for their support. Tron has been performing well outside the market and is motivating its community to be a part of the foundation. Tron was the only coin to keep from the bear, while others fell prey to it.
Apart from OKEx, aforementioned Coingate has also listed the coin and TRX payments for merchants. As reported by the company’s blog, Coingate is popularly a payment gateway rather than a crypto exchange.
“By facilitating payments between TRX shoppers and online vendors, we aim to become a significant part of the TRON ecosystem and contribute to further growth of the community.”
ABCC exchange, also announced the partnership with the Tron team to become the first exchange to list TRC-10 tokens. Justin Sun took to his Twitter handle to announce about the partnership and wrote:
“ABCC Exchange is truly an awesome platform that has witnessed great development. We are glad to partner with #ABCC as it’s the first exchange listing #TRX10 tokens. #TRON #TRX $TRX”
The exchange had also announced about the step that led many crypto-user to relate the price rise with this announcement. ABCC Exchange had said:
“We are excited to announce our partnership with @Tronfoundation ahead of #niTROn2019! @Justinsuntron #ABCC is the 1st exchange that will list #TRX 10 tokens – We are one of the top exchanges with great security and user interface. Stay tuned!#Blockchain mass adoption is coming”
Tron’s momentum kept going when the ninth largest coin was listed on OKCoin which put the coin in the main game with other major coins. The press release stated:
“We are pleased to announce that TRX is now listed on the OKCoin exchange. Starting today, authorized OKCoin customers can acquire TRX by depositing US dollars or Argentine pesos, and starting on January 17th they’ll be able to trade TRX against USD, BTC, and ETH.”
The post Tron [TRX] open for perpetual swap trading on OKEx and other exchanges appeared first on AMBCrypto.
Source: AMB Crypto