This Week in Cryptos: Square Crypto increases crypto muscles as it continues ot hire while there is no place for privacy coins on Upbit

Key highlights

Square Crypto continues hiring
Upbit delist Privacy coins
Wells Fargo builds a digital currency
Abra adds cash-to-crypto at 7/11s
LINE launches crypto exchange

Square Crypto continues hiring
Talent continues to flow into crypto as more and more companies look to built a stronger future. Square Crypto happens to be one of them. The crypto division of the publicly traded financial services company square that focuses wholly on bitcoin, this week, announced the hiring of three new talents to work on open source projects. A prominent name in these hires is ex-Facebook and BitGo employee Arik Sosman. The other two names are Lightning Labs alum Valentine Wallace and Google alum Jeffrey Czyz. These hires are responsible for growing the FOSS [free and open software] developer base.
Upbit delist Privacy coins
Privacy coins are in controversy again as Upbit, the South Korean crypto exchange, announced this week that it would not be providing any trading support for six cryptocurrencies, including some privacy coins. According to the notice issued by the exchange, it will delist and cease trading of Monero (XMR), DASH, ZCash (ZEC), Haven (XHV), BitTube (TUBE) and PIVX by Sept. 30. The reason stated by the exchange to delist these coins is to remove any possibility of money laundering and the inflow from external networks.
Wells Fargo builds a digital currency
Another prominent Wall Street Name seems to be building its own cryptocurrency. And its Wells Fargo, th world’s fourth-largest bank. According to news coming out this week, the bank plans to pilot an internal settlement service using a homegrown cryptocurrency backed by fiat money, starting with the U.S. dollar. It is believed that the bank has already successfully tested the technology between U.S. and Canadian accounts using U.S. dollars. Additional currencies will be considered after the pilot, according to a certain media reports
Abra adds cash-to-crypto at 7/11s
This week Abra bought cryptocurrencies are closer to users. According to the official announcements this week, the crypto wallet app Abra said that it has started selling cryptocurrencies for cash. This service will be available across 6,000 retails stores including all 7-Eleven stores in the Philippines. This is has been possible due to the collaboration between Abra and ECPay, an electronic payments provider in the Philippines. The announcement also states that the platform will be charging a 2% fee for processing the transactions.
LINE launches crypto exchange
Japan has been a strong ground for cryptocurrencies and a lot of exchanges have flourished their way up in the land of the rising sun. And now we have another addition to this list. According to the latest media reports, the messaging app LINE has officially launched a cryptocurrency exchange service. This will be available to all the 80 million users who reside in Japan. According to the statement, the exchange services will be introduced in stages
The post This Week in Cryptos: Square Crypto increases crypto muscles as it continues ot hire while there is no place for privacy coins on Upbit appeared first on Coingape.
Source: CoinGape

DigiByte Founder Blaims Binance Team For Placing Unfair Demands To List DGB, CZ Responded

DigiByte Founder, Jared Tate has alleged that Binance Team has asked for an incredulous amount of funds and stakes in Digibyte for listing it on Binance. 
Is Listing DigiByte A Costly Affair?
DigiByte Founder recently took to Twitter and said that he did a video call with the Binance Team a few weeks back, for the purpose of listing Digibyte on Binance. Reportedly, the team laid out the conditions, which included, $300,000 and 3% of all DGB for ”insurance for their customers against blockchain hacks & defects” to list $DGB. To which Tate said that it was not possible with a truly decentralized blockchain like DigiByte. 
Source- Twitter
Furthermore, he stated that the firm lacked funds and had zero ability to fund such a requirement. To which the “BNB Team’ said that they would get back to him. Moreover, he claimed that he said he is tired of answering people that when will the coin be listed on Coinbase or Binance. 
Source- Twitter
While it is likely that his claims are backed by truth, there are no solid proofs to substantiate his claims, as he was on a video call. His tweet garnered several responses from the crypto community.
Trader and Analyst, Crypto Bitlord, questioned Tate that was he sure that he contacted the right team? It could have been well a group of scammers trying to gain cryptos. He further questioned how could his claims be verified?
Source- Twitter
Another twitter user Shariq explained that in order to reach a massive user base huge costs must be incurred to engage and keep the audience attached. 
Source- Twitter
A  user with Twitter handle “Crypto Moon” said that this was primarily the reason why DigiByte continues to suffer and lose its value. The reason being any big exchange will not list low volume coins.  
Source- Twitter
Tai Zen, another user further advised the Founder on finding an alternative solution and said that the demand was pretty normal. 
Source- Twitter
Binance CEO Responds on it that he don’t want to get him into it,

lol, interesting (in a fk’ed up way). I think he specifically does NOT want DGB listed on Binance.
not gonna waste any time on these types of guys. There are more interesting things to do in life. Moving on…
— CZ Binance (@cz_binance) September 21, 2019

Scammer Alert
Interestingly, the first tweet on Binance’s official twitter handle mentions users to be aware of scammers and not send coins directly to any address for any reason. 
Source- Twitter
Well, a large portion of the crypto community seemed to place their trust and Binance and refuting Tate’s claims. The truth behind the whole scenario is yet to be revealed. Is it just a measure to get publicity and create hype among audiences? Or is there an iota of truth behind his claims?
The post DigiByte Founder Blaims Binance Team For Placing Unfair Demands To List DGB, CZ Responded appeared first on Coingape.
Source: CoinGape

Can Libra Expect A Green Light As Facebook Greets Regulators With Open Arms?

Social media giant Facebook has taken a bold step to manage the hurdles it has been facing from regulators. According to a recent report, Facebook CEO, Mark Zuckerberg, has made himself accessible to US lawmakers regulators. As this might help the popular social media company gain some respect after the Cambridge Analytica fiasco, it is likely that it will also affect Libra positively.
Facebook Shows Readiness To Obey Regulations
This week was the first time since last year that Zuckerberg made himself readily accessible to U.S. lawmakers and even the President of the united states, Donald Trump. According to the report, during Zuckerberg’s recent visit to Washington DC, Facebook was the one to request meetings.
According to Matt Grossmann, an associate professor at Michigan State University,
“They’re going to say it’s a successful trip as long as they improved relationships and they made senators more likely to call Facebook if they have a problem or they’re thinking of legislating in the area, “
However, this generous visitation was strategic and Zuckerberg was said to have attended the majority of the meetings not being under any oath, a situation which means any commitment made by either him or Facebook could be reversed.
Regulators Vs Libra
Considering Facebook’s proposed cryptocurrency project, Libra, Facebook making friends with regulators could be a good omen. Libra has faced a considerable level of regulatory scrutiny since its announcement. The more restless regulators around the world weighed the feasibility of incorporating Libra into their existing financial frameworks, the more evident it became that Libra was not a welcome idea.
France ranks high among the countries which have openly denounced Libra. According to a recent report by Coingape, French Finance minister, Bruno Le Maire made a clear warning about Libra. In his statement,
“All these concerns around Libra are serious. So I want to say this with a lot of clarity: In these conditions, we cannot authorize the development of Libra on European soil.”
Again, European Central Bank’s (ECB) legal official, Yves Mersch, also weighed in by giving a disapproving comment on Facebook’s controversial planned digital currency project calling it “beguiling but treacherous.” According to Yves,
I sincerely hope that the people of Europe will not be tempted to leave behind the safety and soundness of established payment solutions and channels in favor of the beguiling but treacherous promises of Facebook’s siren call, ”
Do you think that Zuckerberg’s meetings with US lawmakers will fruitful and Libra will get a green light to launch? Share your views with us in the comments below. 
The post Can Libra Expect A Green Light As Facebook Greets Regulators With Open Arms? appeared first on Coingape.
Source: CoinGape

ETH Prices Up by 5.7%, Is Ethereum Headed Towards A Bull Run?

Ether prices are up by 5.70% in the last 24 hours.
A Look At Weekly Charts 
The week marked alts turning green and a massive rally was seen for ETH and XRP. ETH is trading at $218, at press time. Considering the price movement, a breakout can possibly lead to a bull run. 
The closest support level lies at $180. Unless a massive sell-off happens, these levels are unlikely to be tested. During the latest price rally ETH prices bounced off resistance levels placed at $217. 
Source – CoinMarketCap
Furthermore, in the short term, the level of $233 holds significance. Interestingly, in two months ETH price has not crossed this margin. Thus, a movement over $220, can lead the prices to cross $233. 
Reasons Behind The Price Rally 
Yesterday, Ethereum, in an interesting instance, flipped Bitcoin in daily fees. ETH’s price peaked out at $215. 
A major catalyst for the surge in ETH price is its steep decline in mid-2019. ETH recorded a 93% drop from its highest price which gave rise to oversold conditions. Thus, when the price recovered above $190, it acted as a resistance level and led to ETH establishing a monthly high. 
Further, lead analyst, Crypto Welson has predicted a massive bull run for Ethereum.
Source –Twitter
He then gave an interesting comparison of price trends seen in 2017- 2019. Further, he said that if the fractal comes into play with a larger force, then ETH could be at the start of one of the biggest runs yet!
Source- Twitter
Ethereum’s Co-Founder Joseph Lubin also took to Twitter and gave an insight on statistics related to Ethereum’s network.
Source- Twitter
Sound Network Strength and Hash Rate
Ethereum hash rate has also made significant gains and presently sits at  200 TH/s – highest it has been in 2019. While the transactions are much below the 2018 peak, the network still looks progressive. It is likely that the metrics will note positive changes when ETH 2.0 and the new consensus model is rolled out in 2020. 
Will Ethereum manage to hold to its massive bull rally? Is flippening possible? Let us know, what you think? 
The post ETH Prices Up by 5.7%, Is Ethereum Headed Towards A Bull Run? appeared first on Coingape.
Source: CoinGape

Stellar Price Analysis: XLM/USD Sustains Breakout, Is $0.1 Achievable?

Stellar extends the bullish action amid a general retreat for bulls cross the market.
Technical indicators suggest resilience among the bulls and ability to push for higher correction in the near-term.

Stellar is arguably the best performer among the top ten cryptocurrencies. For three days in a row, the cryptoasset has posted incredible gains assuring investors of a brighter future. Initially, the gains came as a ripple effect to the bullish wave that stirred the altcoin market. Bitcoin remained mostly depressed ignoring the brief altcoin boom. In fact, the largest cryptocurrency went ahead to post declines below $10,000 and even refreshed $9,600 support.
Meanwhile, Stellar is trading 13% higher in the last 24 hours after making headway above the 100 Moving Average (MA). The breakout was unstoppable at various resistance zones including $0.065, the 38.2% Fib resistance level taken between the last swing high of $0.089 to a swing low of $0.058, $0.075 and $0.080.
XLM/USD 1-hour chart
XLM/USD price chart by Tradingview
The bullish action extended to the swing high $0.089 before the bears swung. The correction across the market on Thursday is mostly driven by Bitcoins plunger to $9,600 saw Stellar trim gains to the support at $0.075. However, recovery has been underway towards the current immediate hurdle at $0.085.
Also providing support to the crypto asset currently exchanging hands at $0.083is the short-term ascending trendline. Other key support areas are the above-mentioned resistance areas that have since turned into potential support areas starting with $0.075, the 38.2% Fib level at $0.07 and $0.065. The major support is observed at $0.055 while the 100 MA on the hourly chart will cushion the drop as well.
The various technical indicators applied on the chart such as the relative strength index and the moving average convergence divergence show the resilience of the bulls to sustain the gains across over the past few days.
Stellar Key Technical Levels
Spot rate: $0.0827
Trend: Generally bullish
Support: Multiple strong support areas
Resistance areas: $0.085 and $0.1
The post Stellar Price Analysis: XLM/USD Sustains Breakout, Is $0.1 Achievable? appeared first on Coingape.
Source: CoinGape

CME Futures at a 4-Month Low & BTC Below $10K as Alts Remain Steady

Chicago Mercantile Exchange (CME) futures is said to have recorded a 4-month low amid crashing BTC price. Altcoins, on the other hand, have been rising steadily. Today, despite a bearish market, they were not affected as drastically as the top cryptocurrency. Is this an indication of the rise of altcoins?
Trading Volume of CME Futures Falls to a 4-Month Low
According to charts which show the relationship between CME’s open interest and daily volumes, there has been a significant fall in open interest from $384 million to the current value of $218 and daily volume has reduced from its maximum value of $1.726 billion to its current value at $86 million.
The news comes following the most recent Bitcoin’s price fall which began about 48 hours ago in which bitcoin had slumped below the long-held $10k support level. Also, about a week ago, perhaps in their bid to maintain trading volume, CME was reported to have opened the gates for traders to enable them to hold a higher number of open BTC contracts as they doubled their BTC futures contracts limits.
CME Daily Volume | Source: skew
Bitcoin Dips Below $10k
Bitcoin began the week on a bearish note. The top cryptocurrency had fallen steeply from its previous price of $10,351 on Sunday morning to its current price of $9,897 in the early hours of today. This represents a 4.5% fall. Though the percentage of the dip is relatively small given the kind of volatility the crypto market has seen earlier, bitcoin slipping below the $10k support level alongside a bull run seen in alts within the same period of time raises several questions.
Has the Alt Season Arrived?
As bitcoin loses market dominance from 70.5% since September 3rd  to 67.5% as of the present, Ethereum, which now trades well above $200 has increased in market dominance to about 9%. Many other alts, alongside Ethereum, rose steadily. Ripple gained almost 10% which saw the price crossed the critical $0.3 dollar resistance while Stellar (XLM) has gained more than 50% in the last 3 days. Many top cryptocurrencies recorded gains which make analysts believe that we have now officially entered the long-awaited alt season! Despite this, alts are beginning to record loses.
According to Crypto Welson on twitter,

$ETH and many other altcoins have dipped slightly after being at resistance. Luckily support is very strong, so I don't think it will be dropping too much. 🤑
— Crypto Welson 📊 (@CryptoWelson) September 19, 2019

Many other analysts seem to support the notion that alts are reaching for the moon which this new price breakout. Though there has been a bearish mood today, they believe this is still very much healthy.

Most $ALTS are only down 3% from 15% moves & this was a very logical drop.
Take $ETH for example, double rejection at 200EMA (orange). Expecting the huge confluence of EMAs (10, 21, & 50) to hold as support at green box.
— Everett Otsukimi (@OtsukimiCrypto) September 19, 2019

What Has Brought About the Bitcoin Price Crash?
On the other hand, while the enthusiasm existing as a result of Bakkt’s expected launch is still high, many believe that large BTC holders, more commonly known as whales, might be manipulating the market in preparation of the much anticipated Bakkt launch. According to an opinion on Twitter,

Well well well. #BTC is heading to decision point. It is all messed by #BAKKT, everybody is too euphoric. I am? First, i would love to see some volatility. How you could trade the king, when he barely moves?! BTC needs healthy correction and im sure, we will get it…
— CryptoMessiah (@messiah_crypto) September 19, 2019

The post CME Futures at a 4-Month Low & BTC Below $10K as Alts Remain Steady appeared first on Coingape.
Source: CoinGape

Binance CEO Hints on How FED’s $128 Bn Injection in Money Markets Will Affect Crypto

Binance CEO believes that the current turmoil created by the Fed’s QE initiatives will force citizens into crypto. It is just a matter of time. 
Is Fed’s Move A Blessing in Disguise for Crypto?
While SEC continues to strengthen its stance against cryptocurrencies, the Federal Reserve has injected $53 Billion in the banking system. The transaction has been done in lieu of repurchase agreements and further an amount of $75 Billion will be added. 
A repurchase agreement is a form of short-term borrowing, mainly in government securities. The dealer first sells the security to investors and later buys them back, usually the following day, at a slightly higher price.
Federal Reserve’s move has faced backlash from several citizens. Interestingly, the CEO of Binance, Changpeng Zhao took to twitter and said that these steps undertaken by the government will invariably lead people to enter the crypto market and it would be longer a choice rather the only option.
CEO of Iconic, Pat Lowry agreed to CZ’s statement and said that everyone will eventually accept crypto when they become aware that it is the driving engine behind their favorite apps and that all global financial assets are tokenized. 
Are We Headed Towards An Economic Lapse?
Reports further mention that federal revenue and expenditures have aggravated volatility in the $2 Trillion repo market. As a matter of fact, the national budget jumped past $1 trillion in the first 11 months of the fiscal year. Moreover, this scenario had not been witnessed since 2012, when the  United States was recovering from the Great Recession.  
Also, the Fed is further expected to announce that it will lower down interest rates further by a quarter of a percentage point as it seeks to prevent an economy lapse, thus, leading investors to gradually steer away from traditional financial investments and try out new avenues. 
What will be Fed’s next move? Will it further catalyze global crypto adoption? Let us know, what you think?
The post Binance CEO Hints on How FED’s $128 Bn Injection in Money Markets Will Affect Crypto appeared first on Coingape.
Source: CoinGape

5% Hike in XRP & LTC; Altcoins Make a Recovery as Bulls Charge at Full Blast

Litecoin(LTC)  and Ripple(XRP) are up by 4.78% and 4.74% and top 20 coins show an increase in price except for Tether(USDT). 
Source: coinmarketcap
Litecoin Heading Towards $75
Litecoin price is presently holding the $70.00 support area and shows signs of bullish divergence. The price may soon break the $73.00 and $75.00 resistance level. If the price undergoes a correction, it will find support near the $70.00 level. The next important resistance is near $82.00-83.00 zone.
Source- Trading View
Technical Indicators 
Source- Trading View
Relative Strength Index (14)- 54.62
Exponential Moving Average (5)- 71.77
Stochastic %K (14, 3, 3)- 83.07
Ripple Could Move Towards $0.3 Area 
Source-Trading View
XRP price made attempts to break $0.2650 resistance. However, the bulls failed to gain any momentum above $0.2650. It is likely that Ripple’s price will either surge towards $0.32650 or have a downside correction towards $0.2500. 
A broader look at the chart reveals a market that has been trending upwards although gradually. However, the prominent pattern is the lower highs pattern experienced from Sunday last week. An ongoing bearish correction risk setting off the trigger if XRP steps below the forming symmetrical triangle support.
Technical Indicators
Source-Trading View
Relative Strength Index (14)- 56.7385
Exponential Moving Average (5)- 0.26419
Stochastic %K (14, 3, 3)- 73.72280
Analysts Speak
With Bitcoin experiencing a price correction, it is seen that altcoins are experiencing a steady price rise. 
In the summer, @OracleOfAlts had predicted that Litecoin prices will be up and altcoins will rule the roost.
Another twitter user, with the handle “ATH Coming”  has predicted, that 2020 will mark a 1.5 trillion market cap for cryptocurrencies and Bitcoin’s dominance will be reduced to a mere 40-46%.
With that being said, it will be interesting to note if altcoins continue to show such price rises or the bullish trend is a short-term guest. While analysts continue to debate if altcoins would rise or not, these price indicators and on-going developments on alt – platforms are reassuring enough to predict good fortune for altcoin traders. 
The post 5% Hike in XRP & LTC; Altcoins Make a Recovery as Bulls Charge at Full Blast appeared first on Coingape.
Source: CoinGape

Ethereum [ETH] Price Crosses $200 With Over 5.5% Hike

Ethereum had been relatively calm for a while now. It was seen trading below the $200 mark for several days even trading as low as $176.50 about a week ago. In the meanwhile, bitcoin too kept perambulating around the $10k USD mark while swinging between $9980 and $10442.
ETH Maintaining A Bullish Rally
ETH has kept a bullish rally for about 48 hours moving towards the $200 mark. At the time of writing this piece, ETH had crossed $200 and is now trading at $201. By crossing the $200-mark, ETH has established a new 7-day ATH. The top altcoin still shows strong bullish movement possibilities as it has maintained this upward movement for more than 2 days now.

Source: CoinMarketCap
Trading at $200.4, ETH remains the second-largest cryptocurrency, only surpassed by bitcoin in terms of market capitalization and adjusted traded volume. Its coin dominance fell drastically towards 6.5% from its initial level at 8% though. At present, ETH has a market capitalization of $21.46 billion and a 24-hour trading volume of $8.33 billion.
Ethereum Within The Last 7 Days
Last Tuesday, on September 10, Ethereum was trading around the $180 mark. On September 11. it touched a low of $176.50, but bounced back again and was trading above $180 again the next day. The resistance at $180 proved a bit difficult to scale through, but ETH surpassed the level and perambulated within the $178 to $182 over the next couple of days. On September 14, ETH became aggressively bullish and closed at $188. It continued its upward movement on September 15, hitting $190 and on September 16, it touched $198 before closing at $197.
Analysts’ Views Of Ethereum Price
Analysts are showing optimism about the price of Ethereum. Quite a few technical and market analysis have been put forward by various traders and analysts to support Ethereum’s bullish case. According to a trader who goes by the name of Escobar, it is indicative of the beginning of the altseason. He tweeted,
$ETH 1D TF- ETH leading Alts to glory in September begins. See you at FourFiddy
Also, Zhoran trader who has set up swing targets at $220 tweeted,
$ETH Update: Swing 1 complete. E2E completed with a kumo breakout. Tagged $200 on the money. Took Profit. Asks set from 200-202 until further notice. #crypto
The post Ethereum [ETH] Price Crosses $200 With Over 5.5% Hike appeared first on Coingape.
Source: CoinGape

Binance Adds 3 Privacy Coins to Its Lending Program

Binance is all set to launch its fifth phase of lending products on 20th September 2019 at 6:00 AM (UTC), where 14-day fixed-term lending products will be made available. The exchange has included privacy coins Monero(XMR), ZCash(ZEC) and Dash to list of its lending products. The service is available to users on a first-come-first-serve basis.
Monero, ZCash and Dash Added
Per an official announcement on Binance’s twitter handle, Binance is all set to launch its fifth phase of Binance Lending Products on September 20th. Binance has added Monero(XMR), ZCash(ZEC) and Dash(DASH) to the fifth phase of the lending program with annual returns of 3.5%. 
The individual caps of coins have been set at 300 XMR, 60,000 ZEC, and 30,0000 DASH. The interest will be calculated from 20th September to the 4th of October. 
Source- Binance Lending Product Details
A look At Previous Lending Phases
Binance launched its fourth phase of lending on the 18th of September. The third phase of the launch saw Ripple(XRP), Litecoin(LTC) and USDC being added to the lending platform providing 7% annual returns. 
Binance launched the second phase of its lending program on the 4th of September. In the second phase, 14- day and 28-day fixed-term lending products were made available.
However, in the third phase interests will be accrued over a fixed period of 14-days only. The first phase of Binance lending began on the 28th of August with returns as high as 15% on BNB coin. Binance believes that the various phases of lending will increase the availability of funds to margin traders.
Binance Launches Margin Trading for ATOM Token
A few hours back, Binance also launched margin trading for ATOM token. The newly added ATOM coin can presently be paired with Bitcoin(BTC) and Tether(USDT). 
Three weeks ago, Binance added margin trading for NEO and Monero(XMR). At present, the trading pairs available on the platform include NEO/BTC, NEO/USDT, XMR/BTC, XMR/USDT.
With Binance continuously making efforts to launch futures products and undertaking margin trading initiatives, it is likely that Binance will set new benchmarks for the same and gain competitive advantages over rival exchanges. Let us know what do you think in comments!
The post Binance Adds 3 Privacy Coins to Its Lending Program appeared first on Coingape.
Source: CoinGape

Crypto Update: Binance Adds Another Coin for Margin Trading

Binance platform has recently added margin trading for Cosmos(ATOM). 
What is Binance Doing Differently from BitMEX?
Binance’s recent move of adding ATOM gives it a competitive edge over BitMEX, as the latter doesn’t provide many options for margin trading when it comes to altcoins. The newly added ATOM coin can presently be paired with Bitcoin(BTC) and Tether(USDT). 
Three weeks back, Binance added margin trading for NEO and Monero(XMR). At present, the trading pairs available on the platform include NEO/BTC, NEO/USDT, XMR/BTC, XMR/USDT.
Also, Binance added margin trading for BCHABC and Stellar(XLM) in August. Cardano(ADA) and Ontology(ONT) were also included in Binance’s list of margin trading coins in July. 
Source- Binance Platform
Recent Developments on Binance Platform 
On the 28th of August, Binance announced its lending platform. Binance believes that it will increase the availability of funds to margin traders. Further, Binance.US recently announced the beginning of phase 1 of its launch in the US. 
The customer registration and verification will begin on 18th September 2019. It will commence by accepting crypto deposits for BTC, ETH, XRP, BCH, LTC, and USDT. Binance also reaffirmed that soon they will be adding support for other cryptocurrencies.
BitMEX- Binance Debacle
Yesterday, Changpeng Zhao (CZ), Binance CEO, revealed that the Binance futures platform had been attacked, but the attack had failed because of the platform’s feature of liquidating futures at index price, an innovation, which he claimed, was done by Binance. In response to this, Arthur Hayes took to twitter and offered CZ, coaching in “advanced methods” of copy-pasting for 51% of his equity. His response came as a sarcastic dig at CZ’s claim of innovation. CZ responded by saying that he will take any classes that Hayes has to offer in exchange for 49% of his equity.
With that being said, it all makes sense as to why Binance is eager to add so many altcoins on its platform. 
The post Crypto Update: Binance Adds Another Coin for Margin Trading appeared first on Coingape.
Source: CoinGape

Ethereum [ETH] Tests $200 on BitPay Addition – Analysts Extend Bullish Targets

BitPay Adds support for Ethereum
Analysts Suggest Ether [ETH] could lead the alt-season again, as it looks to break above $200.

Ethereum [ETH] gained 1.81% on Monday as the altcoin broke above 0.019 resistance level on Bitcoin [BTC] scale. The price of ETH at 3:30 hours UTC on 17th Sept. 2019 is $196.14.
ETH/USD 4-Hour Chart on Bitstamp (TradingView)
The rise has been supported by both technical and fundamental positive news for the cryptocurrency last day.
BitPay, a blockchain-based payments provider, announced support for Ethereum. Currently, it only facilitates Bitcoin and stablecoin payments only. Stephen Pair, CEO of BitPay told the media,
“As one of the largest crypto currencies by market cap and one used by thousands of companies, Ethereum is the next logical choice.”
BitPay’s existing merchants include Microsoft, Newegg, Dish Networks, FanDuel and Avnet. Vitalik Buterin, the co-founder of Ethereum, said that the move would increase the real-world use-cases of Ethereum. The payments processing is expected to go live by next week.
Bulls Vs. Bear
Crypto traders on twitter are turning favorable to Ethereum and other altcoins. According to Escobar, it is indicative of the beginning of the altseason. He tweeted,
$ETH 1D TF- ETH leading Alts to glory in September begins. See you at FourFiddy
However, Bitcoin coder and maximalist, Udi Wertheimer, believes that it is a fake bounce. He entered into a $1000 bet with another trader, Crypto Loomdart that the price will go below $0.016 BTC in 2019. Udi also reiterated that the margin trading feature on Binance would assist his cause.
Nevertheless, Loomdart is highly confident about his analysis. Ethereum [BTC] broke above his designated buying levels and resistances.
ETH/BTC Buying Level and break-out (Analysis Source: Twitter)
Co-incidentally, Escobar suggested that it is highly unlikely that ETH breaks below $150. It falls in line with the 0.016 BTC approximation at current Bitcoin prices. Escobar’s optimistic targets are near $480.
Furthermore, Zhoran trader who has set up swing targets at $220 tweeted,
$ETH Update: Swing 1 complete. E2E completed with a kumo breakout. Tagged $200 on the money. Took Profit. Asks set from 200-202 until further notice. #crypto
ETH/USD Swing Trade Prediction (Source: Tweet)
According to him, a correction below $190 is viable, but, the trend is positive.
The Ethereum protocol is awaiting its revamp in 2020 with its 2.0 version. The crypto is currently getting 20% of its is transaction volume from Tether and is aiming to grow Dapp adoption. Nevertheless, while Ether is leading in terms of MCap, there is stiff competition in the smart contracts market.
Do you think that Ethereum will be to initiate the alt-season again? Please share your views with us. 
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Source: CoinGape

Token Swap: Tether Announces Token Burn Of Over 400 Million USDT

Tether has shared a piece of information about a forthcoming token burn which according to announcement would take place shortly.
According to a tweet from their official Twitter handle, Tether plans to shortly move 400 million Tether USDt as part of its Omni authorized but not issue pool to the issuance address in order to burn/revoke them.

Tether will shortly move 400m Tether USDt as part of its Omni authorized but not issue pool to the issuance address in order to burn/revoke them.
— Tether (@Tether_to) September 16, 2019

Tether Minted 300 million USDT Few Days Ago
Few days ago, Tether took to Twitter to inform its users that it was coordinating with a third party to perform a chain swap. This was planned in order to convert some tokens from their original Omni to an Erc 20 protocol. At the time of the initial announcement, 300 million Tether USDt was announced to have been minted for the swap. However, these conversions took place few days ago as Tether promised the token swap wouldn’t disrupt the total supply.

In few hours Tether will coordinate with a 3rd party to perform a chain swap (conversion from Omni to ERC20 protocol) for 300M USDt. Tether total supply will not change during this process.
— Tether (@Tether_to) September 12, 2019

Whale Alert, a twitter account dedicated to alerting the community of big cryptocurrency transactions, noted the coinage described above in a tweet published on Sept. 12. As per a second tweet submitted as an answer to the first one, Whale Alert offered an explanation of the type of transaction:
“This USDT mint is part of a swap. The corresponding burn on Omni has not taken place yet.”
And finally, Tether is burning the Omni Tether that was already converted to ERC20.
Until now, no token burn has taken place on Omni blockchain. In July, it was reported that Tether accidentally minted and burned 5 million USDT tokens. However, Tether long-standing controversy about issues relating to transparency and market manipulation.
The post Token Swap: Tether Announces Token Burn Of Over 400 Million USDT appeared first on Coingape.
Source: CoinGape

BitMEX vs Binance – Hayes and Zhao Locked in a Twitter War Over Claims of Innovation

Earlier today, Binance CEO, Changpeng Zhao, also known as CZ, announced on Twitter that someone had tried to attack the Binance futures platform. CZ declared the attempt unsuccessful because Binance futures’ liquidation was tied to index price and not futures price. He also claimed that tying liquidation to index price and not futures price was Binance’s innovation. However, the false claim did not go unnoticed and BitMEX CEO, Arthur Hayes trolled CZ in a rather sarcastic tweet. 
Arthur Is Teaching “Copy-Pasting” In Singapore And Wants To Enrol CZ
In what could be described as the most savage retort of the day in the crypto community, BitMEX CEO, Arthur Hayes has sarcastically extended a hand of tutelage to Binance boss, Changpeng Zhao in order to teach him how to really “copy-paste” innovations. This news comes following a controversy that erupted after CZ laid claims on an innovation that happens to have been implemented by BitMEX first.
A Twitter user, @lowstrife replied to CZ’s claim by pointing out that liquidation tied to index prices was an exchange feature that had existed on BitMEX for a long time, thus, rebutting CZ claims of the innovation. No response on the tweet was received from CZ himself but Arthur Hayes had something to say. He sarcastically offered CZ classes in advanced copy-pasting for running a crypto derivatives platform in exchange for 51% of CZ’s equity. Retweeting the post by @lowstrife, Hayes said –

Next time I’m down in Singapore @cz_binance please attend my running a crypto derivatives platform 101. I teach advanced cntl+C cntl+V methods. Price of entry … 51% of your equity.
— Arthur Hayes (@CryptoHayes) September 16, 2019

CZ Responds!
As expected, CZ responded by making fun of the whole affair while and trying to explain that the tweet was “misleading in the way it was written”. In the same vein, CZ offered to take attend any of Arthur Hayes’ classes in exchange for 49% of any venture that Hayes ran. According to CZ,

lol, let me book that flight for ya. Happy to attend any class to own 49% of any venture you run.
(I read the tweet again, it was misleading in the way it was written. I didn't mean the index price liquidation is our invention. but anyway… no edit button)
— CZ Binance (@cz_binance) September 16, 2019

Earlier Hayes Alleged Binance Plagiarizing Features From BitMEX
Coingape recently reported that BitMEX, in a sarcastic tweet, had claimed that Binance had copy-pasted the documentation for their futures platform. Arthur Hayes, at that time, had retweeted the same with a meme and a remark directed at CZ.

@cz_binance y'all can do better than that 🤡
— Arthur Hayes (@CryptoHayes) September 4, 2019

CZ had responded to this by simply apologizing and maintaining that they didn’t read the documents, and promising to remove the plagiarized documents. He also uploaded the links for official documents of futures to be reviewed by BitMEX.
The post BitMEX vs Binance – Hayes and Zhao Locked in a Twitter War Over Claims of Innovation appeared first on Coingape.
Source: CoinGape

Latest Survey shows Rising Crypto Adoption Among Millennials

Recent research by UK based- Law firm, Michelmores reveals that 20% of millennials surveyed have invested in cryptocurrency. 
Millennials Are All for Crypto, Number of Crypto Millionaires Is Rising
The survey was done with 500 affluents Millennials possessing investable assets of  £25,000 or more.
Per the survey, while traditional forms of investments are popular, cryptocurrencies are among the hot favorites.
The survey contrasts with the Financial Conduct Authority’s survey. The latter suggests that a figure of 3% across the general population, as compared to the 20% figure by the recent survey. 
FCA survey further suggested that Bitcoin seemed to be the most popular cryptocurrency among consumers. More than 50 percent of the crypto-holders reported having invested their money on Bitcoin. Unfortunately, only one in three chose Ethereum. However, this shows that there is an increasing willingness amongst millennials to move away from traditional forms of investment and take a plunge with new technologies, regardless of risks. 
Given the rise in number of bitcoin millionaires cryptocurrency investment is definitely a craze among the people in age group 25-35 years. As reported by Forbes in 2018, the top bitcoin millionaires together were valued around $ 24 billion.
Positive Crypto Sentiment On A Rapid Growth
A survey conducted by Fidelity in June revealed that more than 72% of the people in the survey prefer some kind of digital assets. These included pension funds, family offices, hedge funds, and other fund managers. Furthermore, 57% of them voted in favor of owning cryptocurrencies directly.
Tom Jessops, the President of Fidelity Digital Assets then said, 
“More institutional investors are engaging with digital assets, either directly or through service providers, as the potential impact of blockchain technology on financial markets – new and old – becomes more readily apparent.”
The survey also reported that family offices and financial advisors displayed more inclination towards these digital assets than other Financial sectors.
36% of US Investors Consider Bitcoin Investments – GrayScale LLC
 Another survey conducted by GrayScale LLC revealed that 36% of U.S. investors consider in Bitcoin(BTC) as an investment. Interestingly, it represents a potential market of over 21mm investors in the general population.”
Source-GrayScale LLC
About 70% of interested Bitcoin investors also included parents. The risk-reward ratio of Bitcoin also reveals that adding just 5% of it in an investment portfolio has the potential to yield huge rewards at a slight risk.
With crypto adoption on a rise, it is not a distant reality that crypto assets get a global approval. Let us know, what you think?
The post Latest Survey shows Rising Crypto Adoption Among Millennials appeared first on Coingape.
Source: CoinGape