Tron’s [TRX] Justin Sun announces USDT-Tron support on hacked exchange DragonEx

Hacks have been a recurring issue that have often crippled the cryptocurrency market, with the Cryptopia hack in January being a prime example. The latest victim to fall prey to this predicament was DragonEx, a crypto exchange which announced that its platform was hacked, on their Telegram channel.
The hack was reported on 24-25 March, while on 25 March, the Tron Foundation announced that the USDT-Tron trading pair will be supported by DragonEx. This announcement was part of a slew of updates from the Tron roster, which also included TRX Market announcing its support for the USDT-Tron pair.
It is not confirmed whether Justin Sun and the Tron Foundation were aware of the hack before announcing it on social media, but the timing of the announcement demonstrates that the Tron update followed the announcement of the hack.
Post the hack, DragonEx had announced,
“Part of the assets were retrieved back, and we will do our best to retrieve back the rest of stolen assets. Several Judicial administrations were informed about this cyber crime case including Estonia, Thailand, Singapore, Hong Kong etc. and we’re assisting policemen to do investigation.”
Further reports have confirmed that that the lost assets include Bitcoin [BTC], Ethereum [ETH], NEM [XEM], EOS, XRP, Ethereum Classic [ETC], NEO, ABBC, Litecoin [LTC], Bitcoin Cash [BCHABC], Stellar [XLM], Monero [XMR], Cardano [ADA], Ontology [ONT], Tron [TRX], Bytom [BTM], Asch [XAS], Icon [ICX], and Qtum.
The exchange also announced its investigation of the hack, stating that the authorities were working on finding the perpetrators. An official message from DragonEx read,
“We have encountered attacks from hackers and our users’ crypto assets and DragonEx’s crypto assets are both stolen. International Policemen are investigating. Please wait for following announcement about the accurate loss situation.”
The post Tron’s [TRX] Justin Sun announces USDT-Tron support on hacked exchange DragonEx appeared first on AMBCrypto.
Source: AMB Crypto

OKEx Follows the Lead of Binance Planning to Launch Its Own Decentralized Exchange

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OKEx Follows the Lead of Binance Planning to Launch Its Own Decentralized Exchange
OKEx plans to catch up with Binance by scheduling the launch of its in-house decentralized exchange, DEX, for this June. The DEX will run entirely on OKEx’s own blockchain.
OKEx Follows the Lead of Binance Planning to Launch Its Own Decentralized Exchange

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Source: CoinSpeaker

Tether [USDT]’s market cap dominance of stablecoin market down to 75%

Tether [USDT], one of the most controversial stablecoins of 2018, continued to gain the cryptocurrency market’s attention this year. From speculations and allegations over the coin not being backed by the U.S Dollar against its claims in 2018 to becoming a coin not being entirely backed by the U.S dollar in 2019, the coin made headlines all year long.
Taking all this into consideration, Ceteris Paribus, a Twitter user, pointed out that the market cap of Tether witnessed a significant drop over the past year. At the beginning of 2018, the coin had control over the entire stablecoin market. However, it witnessed a significant drop towards the end of November 2018.
Based on the post, Tether conceded its market to Circle’s USD Coin [USDC], TrueUSD [TUSD], Paxos Standard [PAX], DAI, and the Gemini Dollar [GUSD]. Nonetheless, Tether still held a majority of the market cap, reigning over 75% of the entire stablecoin market. The cryptocurrency was followed by USDC with control of around 9% and TUSD with 7% control of the entire stablecoin market cap. The rest was covered by DAI and Gemini Dollar.
Source: Twitter
HODL_monk, a Reddit user, stated that the reason for USDC gaining momentum in the stablecoin market was Coinbase. The user said,
“Coinbase just put a BIG boost on USDC, by making it the only way to online fiat to crypto without fees on Coinbase Pro. I will probably be using USDC for that reason alone, and I doubt I will be the only one.”
Cthulhoo, a Redditor said,
Source: Reddit
To this, Nullius_123 stated,
“I think that once DAI accepts BTC (and other assets) as collateral for its lending system, DAI could become the major player in the stablecoin landscape. It is the only stablecoin that is open and transparent. We don’t even know if Tether is fully capitalized. I am astonished that anyone would risk their capital with it.”
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Source: AMB Crypto

Litecoin [LTC] Price Analysis: Token’s future remains bearish despite bullish activity in the short-term

The fourth largest coin on CoinMarketCap, Litecoin [LTC], breached the $60 mark, despite minor slip ups in the bull run.
At press time, the coin held a market cap of $3.69 billion and was priced at $60.45. The digital silver registered a 24-hour trading volume of $2.01 billion. LTC exhibited a minor loss of 0.41% against the US dollar over the past 24 hours. Additionally, it fell by 1.30% over the past seven days.
Coineal contributed the highest trading volume for the coin, accounting for 7.67% of the total trading volume via the LTC/BTC pair. It was followed by Coinall with 7.45%, and DigiFinex with 5.38%, respectively.
1-hour
Source: TradingView
Litecoin’s one-hour chart exhibited a long uptrend from $55.91 to $57.77. A downtrend from $61.40 to $59.28, along with two minor downtrends between $59.59 – $58.47 and $60.44 – $59.44 were registered on the chart. The support for the coin was found at $55.47, while the resistance was at $65.
Bollinger Bands: The mouth of the bands depicted growing volatility in LTC’s price movement.
Awesome Oscillator: The closing bars of the indicator were green, indicating bullish price momentum for Litecoin.
Chaikin Money Flow: The CMF was above the zero-line, indicating money flow into the LTC coin market and hence, a bullish market.
1-day
Source: TradingView
On LTC’s one-day chart, an uptrend from $32.83 to $45.68, and a longer downtrend from $55.82 to $33.96 were seen. The immediate resistance for the digital asset was marked at $63.06, while support points were found at $30.55 and at $22.91.
Parabolic SAR: The dotted markers were below the candlesticks, predicting bullish movement for the coin.
Klinger Oscillator: The reading line was below the signal line and pictured a bearish trend for Litecoin.
MACD: The MACD line was also below the signal line, reiterating the bearish projection.
Conclusion
The short-term indicators for Litecoin [LTC] projected a bullish market and potential price breakouts. The long-term indicators however, projected a strong bearish phase for the silver coin.
The post Litecoin [LTC] Price Analysis: Token’s future remains bearish despite bullish activity in the short-term appeared first on AMBCrypto.
Source: AMB Crypto

Cardano is a multi-ledger system that will support multi-currencies, says Charles Hoskinson

Charles Hoskinson, the creator of Cardano and CEO of IOHK, organized a surprise Ask Me Anything session on his YouTube channel on March 24, 2019. In this session, the CEO covered various topics such as the Roadmap update, the release of training materials, Cardano’s status as a multi-asset ledger, and EOS centralization.
On being asked about the roadmap update, Charles Hoskinson assured that it would be announced during the IOHK summit being held between April 17-18, 2019 in Miami.
Hoskinson further spoke about whether ADA would be the only cryptocurrency for the entire Cardano ecosystem, or there would be more currencies introduced in the future. He stated that it would not be a “particular usual financial system,” if users cannot issue their own assets, adding that Cardano was a multi-ledger system that would support multi-currencies.
Hoskinson went on to say,
“And, we think we have a great strategy for handling that, I’ve partnered with somebody personally who’s in the ICO market to see what we can do about bringing STOs to our platform as well or at least ensuring inter-operability standards. So, we will be a multi-asset ledger.”
Additionally, Hoskinson remarked that EOS “felt like centralization,” rather than a “perfectly legitimate product.” He added that he failed to see any differentiation between deploying something on EOS versus deploying something on Amazon. The Co-founder of Ethereum said,
“[…] expect for being much more expensive, unpredictable pricing and lower quality of service and also when things go wrong, and have no recovery mode outside of begging a committee of people to save you […] This is not innovation, this is just application old concepts and then bolting on poorly conceived governance system and cutting a lot of poor facilities.”
The post Cardano is a multi-ledger system that will support multi-currencies, says Charles Hoskinson appeared first on AMBCrypto.
Source: AMB Crypto

Tron [TRX] CEO Justin Sun’s most recent followers on Twitter may all be fake, claims report

The online presence of cryptocurrency personalities has been an important aspect of pushing their cryptocurrencies towards mass adoption. Justin Sun, the Chief Executive Officer [CEO] and founder of the Tron Foundation, recently claimed that he had hit a million followers on Twitter, more than anyone else in the cryptosphere but more specifically Vitalik Buterin, co-founder of Ethereum.
The Tron founder had tweeted:
“First one in Crypto world to break through 1 million in Twitter! #TRON #TRX $TRX #BitTorrent #BTT $BTT”
This sense of achievement was quashed when a researcher found out that most of Sun’s latest followers are fake or are bots. Geoff Goldberg speculated that approximately 20,000 of the CEO’s recent 50,000 followers were fake because of the way they were created as well as the nomenclature of the user names. Most of the Twitter handles included a generic name which was followed by a string of numbers, and that pattern was reflected among the majority of the new followers.
Further investigation on Sparktoro, a Twitter follower audit website, revealed that 91% of the sample accounts had no URL or non-resoling URL in their profile. Another metric stated that 96% of the follower list were accounts that “are on an unusually small number of lists”. The legitimacy of the recent followers took another hit as the statistics showed that 68% of the sample space had a “suspiciously small number of followers”.
Many fans of the cryptoverse shared their own opinions on the news with TaraXRP, an XRP aficionado, tweeting:
“It happens a lot I think. I was trying to follow women of XRP from a publication that featured a couple dozen prominent members. I was surprised to stumble upon heavy similarities including the majority having the same profile background picture, recent tweets, and bio language.”
The presence of fake followers and bots on Twitter has been an issue that has been raised by many luminaries in the space, which included Vitalik Buterin, Elon Musk and the founder of Twitter, Jack Dorsey as well.
The post Tron [TRX] CEO Justin Sun’s most recent followers on Twitter may all be fake, claims report appeared first on AMBCrypto.
Source: AMB Crypto

Is XRP a Security? It Seems There Will be No Answer Any Time Soon

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Is XRP a Security? It Seems There Will be No Answer Any Time Soon
According to the investigation lawyer from global law firm Kober & Kim, Jake Chervinsky, it will take more than a year to understand whether Ripple’s XRP is a security or not. Here’s why.
Is XRP a Security? It Seems There Will be No Answer Any Time Soon

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Source: CoinSpeaker

Western Union Ties Up with Stellar-backed Thunes for Direct Mobile Wallet Transfers

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Western Union Ties Up with Stellar-backed Thunes for Direct Mobile Wallet Transfers
With the help of Stellar-backed Thunes, Western Union is going to allow its clients to transfer funds directly to mobile wallets globally.
Western Union Ties Up with Stellar-backed Thunes for Direct Mobile Wallet Transfers

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Source: CoinSpeaker

Santander UK Not Using XRP for Payments, but Ripple Fans Still Have the Reason to Rejoice

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Santander UK Not Using XRP for Payments, but Ripple Fans Still Have the Reason to Rejoice
Banco Santander got confused with XRP and Ripple, and mistakenly announced that they’re using XRP for payments across 19 countries. Later, responding to an XRP enthusiast, the company apologized for providing incorrect information.
Santander UK Not Using XRP for Payments, but Ripple Fans Still Have the Reason to Rejoice

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Source: CoinSpeaker

Tron [TRX] gets listed on eToro; joins Bitcoin [BTC], Ethereum, and XRP

Tron [TRX], which recently lost its place in the top 10 cryptocurrencies after slipping to the eleventh position on CoinMarketCap, has been listed on eToro. Tron Foundation Korea announced the listing on their Twitter handle and shared a blog post stating that by the addition of Tron on eToro, the total number of crypto assets available on the platform increased to 15.
The Co-founder and CEO of eToro, Yoni Assia, praised Tron and said that it was making fast progress towards its lofty ambitions. He added:
“Given the relative youth of blockchain technology, investors in crypto-assets are investing in big ideas and seeking out companies that execute on big ideas. Tron certainly ticks that box. At eToro we look to offer investors access to crypto-assets that already have some clear success behind them.”
Even though Tron has slipped in the market, Tron Foundation’s Founder and CEO, Justin Sun, said that this will help the community grow.
“With our listing on eToro, we’re giving TRX holders another great platform on which to manage their assets. These steps will help grow the blockchain community and expand our reach around the world.”
Tron has joined eToro, which previously added cryptocurrencies like Bitcoin [BTC], Ethereum [ETH], Bitcoin Cash [BCH], XRP, Litecoin [LTC], Ethereum Classic [ETC], Dash, Stellar [XLM], NEO, EOS, Cardano [ADA], IOTA, Binance Coin [BNB], and ZCASH  [ZEC].
At press time, Tron was valued at $0.0230 with a market cap of $1.53 billion. The eleventh largest cryptocurrency noted a 24-hour trading volume of $269 million and fell by 3.04% over the past day. The cryptocurrency registered a fall of 0.46% in the past seven days.
The post Tron [TRX] gets listed on eToro; joins Bitcoin [BTC], Ethereum, and XRP appeared first on AMBCrypto.
Source: AMB Crypto

Bitrue adds XRP base pairs against three cryptocurrencies

After a rumor-filled day which saw the Cobalt update being delayed again, the XRP community breathed a sigh of relief post Bitrue exchange’s announcement of adding XRP as a base pair against three cryptocurrencies viz, Basic Attention Token [BAT], DASH, and STORM.
Bitrue is a Singapore-based exchange, but has offices all across the world, including in US and Japan. The exchange announced the development via Twitter:

[Bitrue New XRP Base Pairs]
DASH/XRP BAT/XRPSTORM/XRP
Happy trading!https://t.co/I0urVZCvoZhttps://t.co/ezjjBIPbwIhttps://t.co/XXIR83pDfX pic.twitter.com/kxna1wAQlF
— Bitrue (@BitrueOfficial) March 24, 2019

The exchange upgraded their wallet for XRP and resumed the deposit and withdrawal of XRP on March 23, 2019. Moreover, the exchange has over 34 cryptocurrencies paired to XRP, including Bitcoin Cash [BCH], EOS, Ethereum Classic [ETC], GAS, and OmiseGo [OMG].
Bitrue also included other programs for XRP to attract users to its platform as it announced an XRP airdrop and a 7.3% interest program for XRP in March 2019. The airdrop was extended to two weeks after users requested for the same.

#1 week of $XRP airdrop @BitrueOfficial! Snapshot will be taken at 24:00 on Sunday, March 31, UTC+8.
Please follow us on Twitter and opt in the airdrop from the formhttps://t.co/5ncGkM8WIT pic.twitter.com/EFFSHX5H2X
— Bitrue (@BitrueOfficial) March 25, 2019

@plitern1, a Twitter user, commented:
“Thank you for the continued roll-out of XRP base pairs!
This is how the whole echosystem of crypto starts to mature as a whole: The diminishing correlation to the Btc peg. It’s not only great for #XRP but for everyone that likes crypto & wants crypto as a whole to succeed. ”
Another Twitter user, @super_dog79, commented:
“Your response to your customers is endearing. It won’t belong before you’re the preferred exchange of retail customers . Great platform !”
The stigma of XRP being a security has been reducing after more and more exchanges began adding XRP to their exchanges. In addition to listing XRP, they are also adding XRP as base pairs.
Moreover, March seems to be favoring XRP adoption as CoinField also announced the addition of 130+ pairs against XRP on their testnet in March 2019. Sharia-compliant Middle East exchange Rain also added XRP to its roster of cryptocurrencies. Furthermore, UK’s PayGlobal also added the XRP feature to their platform, allowing users to convert their crypto to fiat with a new bank card.
The post Bitrue adds XRP base pairs against three cryptocurrencies appeared first on AMBCrypto.
Source: AMB Crypto

Facebook’s Facecoin Set to Replace the U.S. Dollar, Not Bitcoin: Kik CEO

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Facebook’s Facecoin Set to Replace the U.S. Dollar, Not Bitcoin: Kik CEO
In a blog post, Kik Ceo Ted Livingston explained how Facebook’s coin may replace the US dollar as the global reserve currency.
Facebook’s Facecoin Set to Replace the U.S. Dollar, Not Bitcoin: Kik CEO

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Source: CoinSpeaker

Binance Launchpad update to introduce token sale by lottery

One of the largest cryptocurrency exchanges in the world, Binance, introduced a lottery system for its token sale through Launchpad, the exchange’s token launch platform. The update was announced via an official post on 24 March.
The update will see the exchange abandoning its “first come-first-served” system which left many users tokenless owing to their surging demand. A notable example of this system was Binance’s sale of BitTorrent tokens [BTT] in January, 50 billion of which was sold out in 15 minutes.
Binance will introduce a “lottery” as an upgrade on its previous system. Under this new method, prior to the scheduled date of the lottery, the tickets that can be claimed will depend on how many Binance Coins [BNB] users hold within a 20-day period. The lottery will then be drawn via a “transparent, randomized system with a random selection of lottery tickets based on tail digits.”
The Lottery Ticket allocation based on the BNB held is given below,
Source: Binance Blog
Users will be allowed to decide how many lottery tickets they wish to enter, with the maximum amount being based on their BNB holdings. The exchange will then select multi-digit numbers that will be matched against the tail digits of the tickets issued to determine the winners.
“This process will continue until the maximum number of winners (previously set) are matched. The respective BNB will be deducted from each winning user’s balance, as soon as they are deemed a winner.”
Binance also listed out the set of risks and concerns it foresaw with this system. The exchange’s native token will see a degree of price fluctuation due to this model. However, Binance predicted that these will be minimal changes. After the announcement was made, the price of BNB surged by over 15 percent against the US Dollar.
During the 20-day period when users will accumulate BNB, the exchange attested that the price will fluctuate,
“If BNB price drops, it is entirely possible the drop in BNB price will outweigh any gains made by the new token. That is first assuming you win in the lottery draw. Further, the new token being sold is not guaranteed to increase in price. It may drop in price.”
Binance ended on an advisory note, requesting users to not hold BNB for the sole purpose of the Launchpad events. The next set of projects emanating from the Launchpad will be intimated to the community in the next two weeks, the exchange concluded.
Additionally, reports suggest that the exchange is looking to make cryptocurrency trading riskier. Binance is looking to introduce margin trading within their services, thereby allowing users to trade on borrowed funds.
Further, Binance will look to shift their base of operations if regulators voice their disapproval for the margin trading feature.
The post Binance Launchpad update to introduce token sale by lottery appeared first on AMBCrypto.
Source: AMB Crypto

Coinbase-Backed Reserve Points At Wash Trading and Artificial Inflation In Stablecoin Market

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Coinbase-Backed Reserve Points At Wash Trading and Artificial Inflation In Stablecoin Market
Reserve CEO, Nevin Freeman says that stablecoin projects indulge into dubious activities trapping investors funds to artificially inflate demand and thus the market cap of the stablecoins.
Coinbase-Backed Reserve Points At Wash Trading and Artificial Inflation In Stablecoin Market

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Source: CoinSpeaker

Binance Coin [BNB] surges by 15% following Launchpad roll-out announcement

Binance coin [BNB], the seventh largest crypto asset on CoinMarketCap, pumped by over 15% and posted significant gains while slowly emerging from the crypto winter.
At press time, BNB held a market cap of $2.45 billion. The coin’s price was clocked at $17.35. The crypto asset registered a 24-hour trading volume accounting for $326.90 million. Further, Binance’s native token exhibited a growth rate of 9.71% over the past seven days.
Source: TradingView
The coin continued to show bullish movement despite hitting minor lows. BNB token gained traction after the cryptocurrency exchange revealed a new structure for the token launch on its native Launchpad. According to the latest announcement, the token launch will be conducted as a lottery, as opposed to the previous system of first-come-first-served.
Source: Twitter
Binance’s official blog released the table below. It presents the new structure that would allows users holding more BNB tokens with greater access to the lottery tickets.
Source: Twitter
The latest token launch drew considerable flak from BNB token holders, with some calling the format unfair and accusing the trading platform of catering only to BNB whales. Addressing these criticisms, Binance’s CEO and Founder, CZ tweeted,
“Will address some of the questions/concerns/feedback in this thread. Our new Launchpad model is not set in stone. It’s the result of multiple detailed discussions over the weekend, while considering all angles. We will consider suggestions and will make certain tweaks.”
The post Binance Coin [BNB] surges by 15% following Launchpad roll-out announcement appeared first on AMBCrypto.
Source: AMB Crypto