Crypto Markets Hit 11 Month High as XRP Gets a Partnership Boost

Crypto markets reach 2019 high; Bitcoin still in charge, XRP and BNB pumping, LTC retreating slowly.
Market Wrap
Crypto markets have reached their highest level since July 2018 in terms of market capitalization. The momentum has come from Bitcoin hitting another 2019 top, and Ripple’s XRP pumping on a new partnership announcement.
Bitcoin has been grinding higher for the past 24 hours until it topped $9,400 briefly marking its highest price since early May 2018. There is heavy resistance above this and BTC quickly started to retreat back to the $9,200 area where it was trading this time yesterday. According to coinmarketcap.com daily volume dumped 25% in an unnatural looking spike so the figures could be spurious.
Ethereum has been static again and remains at $270 where it was this time yesterday. Without any solid fundamentals ETH remains sluggish and unable to push towards $300. It is still 80 percent down from its all-time high and ‘altseason’ has yet to materialize.
The top ten is a mixed affair during Asian trading today but the top performer is XRP. The Ripple token surged 9 percent after the announcement that the company was partnering with MoneyGram. The deal would involve the deployment of xRapid for cross border transfers using XRP. After topping $0.46 XRP corrected to $0.44 where it currently trades.

An industry defining milestone: together, @MoneyGram and @Ripple are solving the challenges with cross-border payments using the speed and efficiency of #XRP. https://t.co/xIfeJJgSy7
— Brad Garlinghouse (@bgarlinghouse) June 17, 2019

Binance Coin is also doing well today adding 5 percent as the exchange announced that it will issue a number of crypto-pegged tokens on Binance Chain in the coming days, starting with $BTCB, a BEP2 token pegged to $BTC. BSV is up marginally and Litecoin is starting its pullback, dropping 3 percent back towards $130.
The top twenty is also mixed but red is dominating over green as altcoins slide again. NEO and Tezos are dumping 5 percent a piece right now and IOTA and NEM are not far behind dropping 3 percent. Only Cosmos is making anything with 3 percent added on the day.
FOMO: Chainlink Churning Higher
Today’s top one hundred top performer is LINK which has cranked 18 percent to hit $2. The fomo is still lingering from the Google Cloud tie up as this altcoin climbs the charts to 24th with a market cap of $700 million. Japan’s Monacoin is also on a roll today adding 15 percent, unsurprisingly most of it on Bitbank in JPY. Zcash is the third most popular altcoin today making 13 percent.
The two usual suspects are at the bottom end of the performance pile, Maximine Coin and Aurora.
Total market cap 24 hours. Coinmarketcap.com
Total crypto market cap hit a new 2019 high of $290 billion a few hours ago. The move was driven by BTC and XRP which both pumped within a few hours of each other. Market cap is currently back at $286 billion where it was this time yesterday. BTC is still in the driving seat.
Market Wrap is a section that takes a daily look at the top cryptocurrencies during the current trading session and analyses the best-performing ones, looking for trends and possible fundamentals.
The post Crypto Markets Hit 11 Month High as XRP Gets a Partnership Boost appeared first on NewsBTC.
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After Google Cloud, ThunderCore Announces Collaboration with Chainlink for Oracle Services

Coinspeaker
After Google Cloud, ThunderCore Announces Collaboration with Chainlink for Oracle Services
EVM Compatible blockchain platform ThuderCore want to leverage the secure and seamless oracle services offered by Chainlink to enhance the performance of DApps used by businesses.
After Google Cloud, ThunderCore Announces Collaboration with Chainlink for Oracle Services

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Source: CoinSpeaker

Crypto Market Wrap: Consolidation Could Crack on Bitcoin’s Next Move

Crypto markets still range bound; Bitcoin, BCH and BSV moving marginally, Litecoin, BNB and ADA fall back. 
Market Wrap
It has been another day of consolidation for crypto markets as they end the week flat. Very little movement outside of the channel has occurred this week as total market capitalization has been range bound around the $250 billion level. Things have picked up marginally for some crypto assets but others have lost ground.
Bitcoin hit an intraday high of just above $8,300 a few hours ago but pulled back to its current price of $8,230. The move is bullish but not strong enough to break the resistance at this level. Volume has picked up again and is approaching $20 billion which is a sign that further gains could be on the cards.
Ethereum is still flat and holding around $255. There has been very little momentum in the ETH camp and it is down 1.5 percent on the day. Volume is declining as the head and shoulders formation reaches its closure and a drop could be imminent. Current support for ETH lies at $230.
The top ten is showing more red than green during Asian trading this morning. The only two aside from Bitcoin that are up on the day are Bitcoin Cash with 2.5 percent and Bitcoin SV with 3.5 percent. The rest are in the red with Litecoin and Binance Coin dropping the most at over 3 percent each.
Top twenty movements are also minimal with a couple of percent being dropped by Cardano and Tron. Gaining a similar amount are Cosmos and NEO reaching $6.25 and $13.13 respectively. The rest are plus or minus a percent or so as the crypto consolidation continues.
FOMO: Chainlink Spikes on Google Hints
It comes as no surprise that today’s top one hundred top performer is Chainlink. The 43 percent spike came after Google Cloud dropped hints that it would be working with Ethereum based LINK. The Reddit feed went wild and the altcoin spiked in volume from $24 million to $390 million as the fomo frenzy gathered pace. Binance is getting the majority of trade at the moment with 67 percent.
Energi is a newcomer to the top one hundred with a 30 percent pump as NRG gets listed on KuCoin. Bytom has also had a productive 24 hours with 14 percent added. As predicted the big dump is Aurora as it peaks and troughs on a daily basis, today dumping 50 percent for no obvious reason.
Total market cap 24 hours. Coinmarketcap.com
Total crypto market capitalization is currently marginally higher than this time yesterday at $262 billion. Markets are still range bound however and are unlikely to see any bigger moves until Bitcoin breaks out. The push back above $8,200, albeit briefly, is a bullish sign though so the weekend in crypto land could get interesting.
Market Wrap is a section that takes a daily look at the top cryptocurrencies during the current trading session and analyses the best-performing ones, looking for trends and possible fundamentals.
The post Crypto Market Wrap: Consolidation Could Crack on Bitcoin’s Next Move appeared first on NewsBTC.
Source: New feedNewsBTC.com

Is Tron (TRX) Steadying Because of ChainLink Partnership Rumors?

Tron prices up 2.5 percent but out of the top 10
ChainLink and Tron partnership rumors may support prices
Transaction volumes drop, averages 6.9 million against 37 million of Feb 24

Rumors are rife that Tron and ChainLink are on the verge of collaboration. If that is the case, Tron (TRX) stands to benefit as demand help lift valuation from current pits. The coin is up 2.5 percent from last week’s low but could print above 2.5 cents by end week.
Tron Price Analysis
Fundamentals
Ethereum introduced smart contracts. Smart contracts depend on the underlying blockchain for security and immutability. As an autonomous piece of code and highly reliable when executing the pre-programmed set of conditions, it will be useful in the real world with fluctuating variables if there is a connection, an oracle that feeds and updates it will real-time data. That is what ChainLink does, and while acting as a gap between on-chain and off-chain infrastructures, they enable smart contracts like Tron’s access verifiable APIs, real-time data fees or payments while remaining decentralized without a single point of failure or downtime.
It is this agent, an oracle that Tron-based smart contracts will draw their source from if this spreading rumor is indeed true. While unconfirmed by the Tron Foundation or ChainLink, this “collaboration” will remain as it is—conjecture.

Still unconfirmed but possible @Tronfoundation + @chainlink partnership being announced tomorrow. This email was supposedly sent by the $TRX foundation.#Chainlink can trigger #SmartContracts on any #Blockchain.
@justinsuntron $LINK #TRON pic.twitter.com/Zt2MNqpgSO
— LINK News Oracle (@LINKNewsOracle) March 12, 2019

Nonetheless, this is good news and days after announcing a liquidity creating partnership with Tether, a connection that would see smart contracts activate based on real-time signals will make the network and by extension TRX more desirable for businesses. Already, Tron dApps are drawing more volumes surpassing those of Ethereum and EOS cementing the Foundation’s bottom line.
Candlestick Arrangement

Even so, TRX is down to 11th in the market cap ranking after two weeks of dismal performance. TRX is down 2.5 percent from last week and relatively stable in the previous day. Because of this and unexpected demand in lower time frames, our last TRX/USD trade plan is valid.
Therefore, bulls are in control although the lack of confirmation and TRX close above 2.5 cents should be a worry. Our confidence relies on the price action of the past two days. Visibly, TRX prices are printing higher highs, away from the lower BB meaning momentum is building up.
However, before we recommend longs, prices must break and close above 2.5 cents, confirming the three-bar-bull reversal pattern of Mar3-5.
Technical Indicators
As mentioned above, a single bull bar thrusting prices above 2.5 cents would usher in TRX demand that would likely drive prices towards 3.1 cents.  For that to print out, volumes must exceed 6.9 million average and 13 million of Mar 4.
The post Is Tron (TRX) Steadying Because of ChainLink Partnership Rumors? appeared first on NewsBTC.
Source: New feedNewsBTC.com

MIT Technology Review: Blockchain to Become Mundane in 2019

CoinSpeaker

MIT Technology Review: Blockchain to Become Mundane in 2019

MIT Technology Review published an article, providing an overview of the recent history of blockchain and explaining why it will start to become mundane in 2019. 

MIT Technology Review: Blockchain to Become Mundane in 2019

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Source: CoinSpeaker

Coinbase ‘Exploring’ Support for XRP and 30 Other Cryptocurrencies

CoinSpeaker

Coinbase ‘Exploring’ Support for XRP and 30 Other Cryptocurrencies

Coinbase is exploring a possibility to add support for a list of 31 coins, including XRP that is currently the second-largest cryptocurrency by market cap.

Coinbase ‘Exploring’ Support for XRP and 30 Other Cryptocurrencies

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Source: CoinSpeaker

Bitcoin Plunges to $6,400 while Altcoins Crash, Experts say Red isn’t Over Yet!

Bitcoin drops down to $6,394 while altcoins take a serious plunge causing BTC dominance at year’s highest. Though people are hoping for a reprieve, experts are pointing towards another low which if Bitcoin crosses can accelerate the downward plunge.
Crypto street running red, BTC dominance at year’s highest
The market is in extreme red as cryptocurrencies take a nosedive and fall down in double-digit percentages. At the time of writing, Bitcoin has been exchanging hands at $6,394 with a loss of close to 10 percent in the past 24 hours. Today’s price range has been $6,302 and $6,731.
Source: Tradingview.com
The entire market cap has lost about $35 billion as it crashes from over $236 billion of yesterday’s highest to $201 billion today. However, as Bitcoin dropped, altcoins took an even deeper fall causing BTC dominance to rise to this year’s highest at 55%.

If we take a look at the top cryptos, the ones with the sharpest fall are:

Ethereum (ETH) is down by 13.20% at $$226
EOS is down by 14.84% at $5.03
Litecoin (LTC), Cardano (ADA), and Tron (TRX) are down about 12%
IOTA (MIOTA), Dash, and NEO are dropping in the 14% range

The only coins in the green are:

Chainlink (LINK) is up by 2.%86 at $0.2773
Dogecoin (DOGE) is in the green barely by 0.01% at $0.0049

Also, read: Crypto Market in Free Fall- Is it Fundamental, Technical or Something More Sinister?  
Bitcoin enthusiasts feeling bearish, experts say the drop just might accelerate
Crypto expert and founder and partner at Morgan Creek, Anthony Pompliano shared a tweet regarding the market sentiments:

Want to know why there isn’t a crypto ETF approved yet?
We just saw $100 million of Bitcoin dumped on the market in less than 10 minutes.
It caused more than a 5% decline in BTC price. Some argue volatility, others argue manipulation.
The truth is no one knows.
— Pomp 🌪 (@APompliano) September 6, 2018

As crypto market worsens, optimists try to bring out their points as crypto enthusiasts come up with tweets like:

It’s so clear looking at the charts that $BTC is just shaking out the weak hands before it pumps to $12k. #Bitcoin
— Satoshi Wolf 🐺 (@SatoshiWolf) September 6, 2018

However, pessimist or realists, rear their ugly heads and believe Bitcoin price is going to drop down further. Bitcoin enthusiasts aren’t feeling at all good about the market right now as Tweets like these emerges:

$BTCUSD day chart,
if all those magic bullwhales won’t react to this, we could see Bitcoin going at 5K levels in the next weeks.
On the positive side, I see a falling wedge, which is a solid reversal pattern.
keep the hope guys!!#crypto pic.twitter.com/RgxXD2Xv43
— Don ‘Lucky’ Crypto (@SmartTipps) September 6, 2018

Best meme yet #JustDoIt #Nike #Bitcoin $BTC pic.twitter.com/Q9tUou2UkQ
— Ace of Crypto ♠ (@AceOfCrypto) September 6, 2018

However, experts are feeling the same as Bloomberg stated Stephen Innes, the head of trading for the Asia Pacific at Onada Corp. said the next key level for Bitcoin is $5,000. If Bitcoin fails to hold this and crosses this threshold, it might end up accelerating the losses.
A bearish trend seems to be in order according to the experts as Mike McGlone, Senior Commodity Strategist at Bloomberg says this is a bearish market and Bitcoin shorts are spiking. He also shared Bitcoin might fall to $5,000.
Whereas Bitcoin longs aren’t seeing much action, shorts keep on going up and up, adding  ₿7,000. Bitcoin shorts are almost to their all-time highest, betting for Bitcoin to go down.
Anthony Grisanti, a guest on CNBC also shared that the short-term market movement is pointing downwards.
Additionally, EU might also make a move towards crypto as Bruegel, Brussels-based think tank prepares a document for EU finance ministers to promote regulation of digital assets and ICOs as reported by Reuters,
“Now the possible expansion of the crypto exchange business in Europe and considerable interest in ICOs in EU countries, which account for 30 percent of the global market in terms of projects funded, is pushing regulators to take a closer look.”
Currently, the market is not looking good at all, with bears strongly positioned. And as experts point out another drop to $5,000, it is a possibility we just might see it but lately, Bitcoin has been going for higher lows, so it’s all wait and watch for now.
The post Bitcoin Plunges to $6,400 while Altcoins Crash, Experts say Red isn’t Over Yet! appeared first on Coingape.
Source: CoinGape