Top Performing Cryptocurrency of 2019 Suspected of Market Manipulation: Report

Chainlink [LINK], one of the best performing cryptocurrencies of 2019 has been alleged of “pump and dump” trading by Blockchain research firm AnChain. According to their report, a small number of addresses conducted vast volumes of trading. Moreover, there were attempts to hide the identity of the traders as well. 
Victor Fang, CEO of AnChain.ai told the media,
“We are confident that our research is illustrative of artificial market manipulation as it involves a small number of addresses accounting for a hugely disproportionate transaction volume over a short period of time, and that these transactions were subject to various forms of obfuscation and concealment atypical of legitimate market activity,”
The price of LINK rose from about $0.5 to reach an All-Time High of $4.54. The bullish move was a rare instance among altcoins.
Chainlink Daily Price in 2019 (CoinMarketCap)
According to Anchain, the parabolic move was a classic pump and dump scheme initiated on 28th June. After that, when the price was high enough, the large addresses began unloading their holdings. The report sites that “One address sold 4.2 million tokens from July 2 to July 15.”
Link Token is trading 50% lower from the levels attained during early July when the suspected sell-off began.
Furthermore, after attempted to conceal the identity using ‘jump addresses,’ the tokens were transferred to Binance for trading.
On Coinbase Effect
As reported on 29th June on Coingape, the token gained about 58% apparently due to Coinbase listing. The media also questioned Anchain, as ‘coinbase effect’ has influenced in the past as well. It was also evident with Tezos [XTZ] this year.
However, according to them, “the pump-and-dump data appears to precede the CoinBase debut of the Link token.” The whale buys and sell orders with concealment suspects clearly of a ‘pump and dump’ scheme.
Market manipulation like these come under micro frauds conducted by high volume traders which affect low Mcap assets. On Monday, the Chairman of the SEC in the US had raised concern on this issue affecting the entire industry. Crypto ETFs and other products have been delayed due to market manipulation and security issues.
Therefore, measures to control fraudulent activities in the crypto markets should be one of the primary targets of the community as well.
Do you think that Coinbase timing accentuated the pump and dump scheme? Please share your views with us. 
The post Top Performing Cryptocurrency of 2019 Suspected of Market Manipulation: Report appeared first on Coingape.
Source: CoinGape

Chainlink Price Analysis: LINK Is Only a Bump Away from Jumping Above $3.0

LINK battles ascending channel resistance amid widespread bear pressure.
High consolidation is expected as long as the price stays above the moving averages.

Chainlink is a bull among a sloth of bears. Mid-through this week’s trading, the crypto continues to sustain gains. In fact, for more than three days, LINK has been recording a higher low pattern.
The remarkable performance comes after a couple of weeks of having to painfully endure battering by the bears. The price gravitated from the short-lived recovery mid-August. The double-cross of the 50 Simple Moving Average one-hour chart below the 100 SMA 1-hour chart resonated with the bear momentum action. Link lost balance and trimmed gains to the extent of exploring levels close to $2.0. However, a low formed at $2.13 (Fibonacci swing low) which later functioned as a stepping stone for the impressively ongoing recovery.
LINK/USD 1-hour chart
Link/USD Chart by Tradingview
 The staggering recovery blew away the bear pressure allowing gains in an elongated engulfing candlestick. A struggle occurred at the 50% Fib retracement level taken between the last swing high of $2.59 to a swing low of $2.1357. This necessitated a correction below the moving averages. LINK stumbled into unexpected support at $2.2 giving the price a push within an ascending channel.
Meanwhile, a weekly high formed at $2.59. LINK’s upside is limited by the channel resistance. On the brighter side, the price is trading above both the 50 SMA and the 100 SMA. In addition to that, the 61.8% Fib retracement level is glowing as the next support target. Moreover, as long as the 50 SMA stays above the 100 SMA, we are likely to see a rebound out of the channel resistance. Chainlink only needs to overcome the resistance of the channel for a compelling boost past $3.0.
LINK Key Technical Levels:
Trend: Bullish (short-term and long-term).
MACD: Hints continued bullish influence with the gradually increasing positive divergence.
Support Areas: $61.8% Fib level slightly above $2.4, $2.30 and $2.13 (previous support).
Resistance: $2.5, channel resistance and $3.0.
The post Chainlink Price Analysis: LINK Is Only a Bump Away from Jumping Above $3.0 appeared first on Coingape.
Source: CoinGape

Exchange tokens rival heavyweight cryptocurrencies in YTD price performance; sign of things to come?

Can 2019 get any more bullish? Price-performance, public sentiment, and exchange volume are all on the up-and-up in the cryptocurrency world, with Bitcoin spearheading that green wave with a 200 percent price rise. Given the fact that this BTC bull run has ensconced this past quarter, a lot of notable isolated success stories have been […]
The post Exchange tokens rival heavyweight cryptocurrencies in YTD price performance; sign of things to come? appeared first on AMBCrypto.
Source: AMB Crypto

Decentralization Taking Shape On a New Platform For Dapps and Services

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Decentralization Taking Shape On a New Platform For Dapps and Services
If any technology seeks to be adopted and widely used, it must have firm foundations to stand on. Credits may well be the solid ground the industry’s many participants have been seeking for turning their developments into reality.
Decentralization Taking Shape On a New Platform For Dapps and Services

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Source: CoinSpeaker

Crypto-Market Top Weekly Performers: Bitcoin, Monero, Binance Coin, Stellar, ChainLink

Cryptocurrency markets witnessed another exciting week as the Bitcoin [BTC] began the week with a robust bullish action, but failed to yield. Furthermore, the altcoin ‘hodlers‘ suffered massive losses to the tune of more than 20%.
Moreover, Bitcoin [BTC] bulls also seem exhausted at the moment as the price keeps falling to find support. Overall, this was a bearish week for the cryptocurrency markets as the market capitalization dropped. The losses for altcoin traders were further accentuated by the rising dominance of Bitcoin; which is currently 65.4%.
BTC/USD 1-Day Chart on Bitstamp (TradingView)
Opening Price: $$11,300
Closing Price: $10,612
The weekly Loss: 6%
Weekly High/Low: $13200/$10,555
The general sentiments of the market were bearish. Hence, while all coins are in red, these are the ones’ that took slightly fewer losses compared to others.
Monero (XMR)
XMR/USD 1-Day Chart on Binance (TradingView)
Monero is one of the most popular privacy-focused cryptocurrency. This week while most cryptocurrencies broke their USD support, Monero has tried to maintain support around $88.
Opening Price: $98.5
Closing Price: $87.1
Weekly Loss: 11.9%
Weekly High/Low: $116.7/$84.4
Binance [BNB] Coin
Binance conducted to 8th quarterly token burn, which saw a burn of 808,888 BNB tokens which came as positive news for the traders. However, there are significant concerns around the supply and hence, price discovery, which seems to be keeping the bulls at bay.
Nevertheless, the Exchange has been growing massively with increasing volume almost every quarter. Huobi Token and LEO, the other two exchange backed tokens are also holding onto gains at the moments.
BNB/USD 1-Day Chart on Binance (TradingView)
Opening Price: $33.3
Closing Price: $29.3
The weekly Gains: 12%
Weekly High/Low: $36.9/$27.1
Stellar [XLM]
Stellar [XLM] was one of the top performing cryptocurrencies which has currently slid down from the top the ten lists by Mcap. Moreover, it is also now testing support at the lower level.
Cryptocurrency regulations and lack of visible development and insight around IBM and stellar, its’ most coveted partnership, the coin continue to slide down with the bearish altcoin momentum.
XLM/USD 1-Day Chart on Binance (TradingView)
Opening Price: $0.106
Closing Price: $0.088
The weekly Loss: 16.9%
Weekly High/Low: $0.114/$0.083
Chain Link [LINK]
Chainlink is the best performing cryptocurrency since the past couple of weeks. While the altcoin traders have continued to lose confidence even in the most popular cryptocurrencies, chainlink [LINK] emerged as an exception.
It grew from $1.5 to trade just below $5; however, the FOMO soon stopped. Despite the losses in recent times, the cryptocurrency is currently looking to establish support around $3.
LINK/USD 1-Day Chart on Binance (TradingView)
Opening Price: $3.29
Closing Price: $2.94
The weekly Gains: 10.6%
Weekly High/Low: $3.89/$2.57
*The percentage dominance of cryptocurrencies w.r.t. to the total market capitalization of the market at $1 billion is 0.3%. Hence, for Analysis purpose, we will only consider cryptocurrencies with a total market capitalization $1 billion or more. For future analysis, we’ll try to maintain ~0.25% as a standard for the calculation.
**The data is taken at around 11: 00 Hours UTC on 14th July 2019.
The post Crypto-Market Top Weekly Performers: Bitcoin, Monero, Binance Coin, Stellar, ChainLink appeared first on Coingape.
Source: CoinGape

Crypto Activity in June by the Numbers

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Crypto Activity in June by the Numbers
CORindex releases its latest monthly report detailing the most significant changes in the crypto game in June.
Crypto Activity in June by the Numbers

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Source: CoinSpeaker

Crypto Hot Cake Chainlink (LINK) Surges 270% in a Month, Is it Just FOMO?

There is no doubt that Bitcoin has been in the driving seat over the past couple of months. Its epic performance has eaten into the crypto markets to such an extent that altcoins are still largely on the floor. That is all except Chainlink which has literally shot for the moon this month.
LINK Lashes Rival Cryptos
Chainlink has made monumental gains over the past month, surging over 270 percent as its market capitalization tops $1 billion. It has performed that well that it is now 16th place in terms of market cap which is above NEO, IOTA, Cosmos and Ethereum Classic. With another $100k or so LINK will be as big as Dash.
LINK prices YTD. Coinmarketcap.com
As a wall of red bleeds into crypto markets during Asian trading today, LINK is bucking the trend and still gaining. At the time of writing Chainlink was trading at around $3.50. Considering this altcoin was less than $0.30 at the beginning of the year, it has pumped over a thousand percent.
Very few others can match that performance. Even Litecoin, which has pumped 300 percent this year, is way behind comparatively. Bitcoin meanwhile has made around 200 percent in the same period.
Chainlink is a blockchain project that attempts to solve a problem involving adjudication of smart contract inputs and outputs. It provides a tamper proof link to solve the ‘oracle problem’ for smart contracts that have no knowledge of real world data.
According to Forbes, the project’s solution to this problem involves the use of a decentralized network of ‘oracles’ to lower the risks associated with placing trust in a third party. The economic model build around the LINK token is based on incentives or activities such as paying for data and putting up collateral or ‘reputation’ to improve the reliability of oracles in the network.
Why The FOMO?
Chainlink is the hot cake in crypto land at the moment, just as EOS was in April last year. As we have seen time and time again these fomo driven altcoins can come and go pretty quickly. Verge was good example of such a massive pump and dump on a promise of some ground breaking tech, and XVG is virtually dead these days, down over 97 percent from that peak.
Fundamentally, LINK prices have been driven by a couple of things recently. The Coinbase Pro listing clearly gave it some momentum but these exchange driven pumps are no longer what they used to be. A possible tie up with Google Cloud, which name dropped Chainlink earlier this month, caused an epic spike in prices.
The same Google announcement also mentioned Ethereum, which didn’t move indicating that a lot of the LINK action is purely speculation and fomo which is all part of the ebb and flow of crypto asset market cycles.
Image from Shutterstock
The post Crypto Hot Cake Chainlink (LINK) Surges 270% in a Month, Is it Just FOMO? appeared first on NewsBTC.
Source: New feedNewsBTC.com

ChainLink (Link) Surges 75.6%, Has Google And Coinbase Support

ChainLink (Link) Surging, adds 75.6 percent
Google entry and listing at Coinbase significant for Link

Oracles are the future, and Google is strategically positioning itself to be a valuable source of verifiable data. By partnering with ChainLink, Link which also got a “Coinbase Effect” boost, is bullish in the long term. At spot rates, the token is up 75.6 percent from last week’s close.
ChainLink Price Analysis
Fundamental
In the top 20, LINK is conspicuous. Not by what the token represents but because of its price performance in the last few weeks. Impressive as it is, there is more to ChainLink that what meets the eye.
Desirous, their overarching ambition is to make smart contracts even smarter. That means “feeding” fragmented blockchains equipped with smart contracting capabilities with outside, real-time data. If anything, that shall open a whole lot of possibilities.
Aptly and confidently mentioned by Vitalik Buterin, the prediction market is grossly undervalued. Therefore, while smart contracting eliminated the middle man, Oracles shall eliminate limitations.
Already, Google is meticulous enough to sense opportunity and is consequently eyeing the higher price. By partnering with ChainLink, blockchain’s value is gradually building on the first layer, that is of tokenization. It could be minute in the eyes of critics, but this is undoubtedly the general trajectory of the blockchain space.
The era of smarter smart contracts made possible by Oracles is on. It could be, in a way, the reason why Ethereum’s figureheads are on overdrive working towards the timely activation of Beacon Chain and later Ethereum 2.0.
Once it is active, the Ethereum network will shake off scalability concerns. After that, ChainLink will build on, striking more high-level partnerships as a result.
Candlestick Arrangement

Outperforming popular crypto assets, Link is up 75.6 percent from last week’s close. The trend is Northwards, and from previous LINK/USDC price analysis, it is clear that buyers are in control. With a perpendicular explosion, bulls are firmly in control.
Although there is always a possibility of a pullback, the entry of heavyweights is bullish for the coin in the long run. Therefore, in light of the above, every dip is loading opportunity now that Link is trading within a bullish breakout pattern against the USD.
Building on June 29 uptick, support is at $3.2. Should there be a correction below this level, then better entry opportunities shall be at $2.6 or the middle Bollinger Band.
Technical Indicator
Distinct, June 29 leads this trade plan. Behind the upswing are ultrahigh trading volumes of 1.6 million against 435k. Since prices are oscillating within its trade range, ideally, confirmation of buyers ought to be with similar participation exceeding 1.6 million or at least recent average of 600k.
Chart courtesy of Trading View. Image Courtesy of Shutterstock
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Source: New feedNewsBTC.com

ChainLink leads altcoin market surge; records 900% growth since May

The virtual asset industry is a large playing field which includes thousands of cryptos, with each one of them trying to establish their proficiency in the market. Bitcoin might be the dominant player in the system, but on the development front, there are certain lesser-known altcoins that have been making huge strides in their respective […]
The post ChainLink leads altcoin market surge; records 900% growth since May appeared first on AMBCrypto.
Source: AMB Crypto

Crypto-Market Top Weekly Performers: Bitcoin, Ethereum, Litecoin, Chainlink, LEO

Bitcoin [BTC]’s bull run in the past few weeks has been staggering. The cryptocurrency reached its yearly high above $13800 on 26th June. The price rallied from $11,350 to gain over 22% in 24hours to reach the top on Wednesday. The rise was so overwhelming that even Bitcoin permabull, Mike Novogratz regretting selling a few hours earlier.
Nevertheless, the rise was short-lived as Bitcoin plummeted almost instantly as the FOMO was apparently interrupted by a server overload and performance issues at Coinbase. Several Exchange portals saw a surge of users and eventually, some of them were not equipped well enough.
While Bitcoin looked further bearish as the parabolic rise seemed to mark an end to FOMO. However, it has been trading in a tight range since then about $12000 leaving the traders uncertain about the next bullish break or a bearish pullback.
BTC/USD 1-Day Chart on Bitstamp (TradingView)
Opening Price: $10675
Closing Price: $11,525
The weekly Gains: 7.3%
Weekly High/Low: $13880/$10,300
Litecoin [LTC]
As Bitcoin continued to increase its dominance over the cryptocurrency markets, almost all the altcoins were looking at a downside. The FOMO in Bitcoin was evidently one-sided with stablecoins gaining popularity and support from the institutions. However, the future of altcoins lied in the dark.
Litecoin broke below $110 momentarily as Bitcoin broke instantly from its yearly highs. However, Litecoin has gained back above $130 during the weekend. The altcoin traders anticipating an altcoin bull season could look forward to Litecoin because of its performance in the past month.
LTC/USD 1-Day chart on Bitstamp (TradingView)
Opening Price: $139
Closing Price: $130
The weekly loss: 6.4%:
Weekly High/Low: $19.4/$12.8
Ethereum [ETH]
Ethereum [ETH] was one of the most stable altcoins in terms with Bitcoin’s Price. As Bitcoin continued to gain in double digits, Ether also broke above $350 taking a cue from the momentum.
However, the FOMO in Bitcoin has gripped Ethereum traders as they looked to Exchange their Ether with FIAT or Bitcoin. Nevertheless, it is on a recovery path, trying to find support in the $300-$320 range.
ETH/USD 1-Day Chart on Bitstamp (TradingView)
Opening Price: $300
Closing Price: $304
The weekly Gains: 1.33%
Weekly High/Low: $364/$273
Chainlink (Link)
Chainlink was the best performing altcoin this week as it grained more than 300% during the week. The rise can be attributed to chainlink’s mention in Google’s Cloud Platform tutorial. The bullish move in the altcoin has continued since then. Moreover, rise around 58% in a day could also act as the infection point for other altcoin gains.
ChainLink/USD 1-Day Chart on Binance (TradingView)
Opening Price: $1.8
Closing Price: $4.16
The weekly gains 131.1%:
Weekly High/Low: $4.16/$1.73
LEO LED UNUS (LEO)
Leo Led Unus (LEO) is the Exchange utility token from Bitfinex. The Exchange backed token raised $1 billion in the IEO conducted by Bitfinex. Currently, with a Mcap of about $1.8 billion, it is positioned 13th according to total market capitalization.
Although, Bitfinex was in the news against allegations of misusing their funds using USDT. The Exchange has continued to expand its business and also working on the development of a DEX.
LEO/USD 1-Day Chart on Bitfinex (TradingView)
Opening Price: $1.885
Closing Price: $1.889
The weekly gains 0.05%:
Weekly High/Low: $2/$1.7
*The percentage dominance of cryptocurrencies w.r.t. to the total market capitalization of the market at $1 billion is 0.3%. Hence, for Analysis purpose, we will only consider cryptocurrencies with a total market capitalization $1 billion or more. For future analysis, we’ll try to maintain ~0.25% as a standard for the calculation.
**The data is taken at around 11: 00 Hours UTC on 30th June 2019.
The post Crypto-Market Top Weekly Performers: Bitcoin, Ethereum, Litecoin, Chainlink, LEO appeared first on Coingape.
Source: CoinGape

This Token Surges 58% Higher Following Coinbase Listing

Coinbase, one of the largest cryptocurrency exchange announced the listing of Chainlink (LINK) token on its trading platform and mobile apps (iOS and Android) – following the listing, LINK token began surging with over 58% within past 24 hours. 
Chainlink (LINK) Outperforms
At the time of reporting, the value of Chainlink (LINK) is witnessing an outstanding surge of 58.82% over the past 24 hours. Currently counting as the 17th largest cryptocurrency with a market cap $1,248,361,463, LINK token is trading at the value $3.57 against USD.
Chainlink Price | Coinmarketcap
Looking closer at the value of Coinmarketcap, LINK token is highly trading at Binance and Coinbase Pro exchange. In fact, Binance and Coinbase Pro appeared on the top three exchanges where the major trading volume of LINK token can be found. Other exchanges with a high trading volume of LINK token are – Huobi Global, Iquant, BKEX, OKEx, CoinBene and unlike.
Chainlink Market | Coinmarketcap
Just to note, the token has already crossed over $1 billion and very closed to jump 16th spot where NEO token is currently ranking. Today’s announcement of LINK listing on Coinbase comes after its listing on Coinbase Pro two days ago. Accordingly, the LINK token is now available to permissible jurisdictions which put aside residents of State of New York at the initial point. If you’re a Coinbase user, you would first require to update your Coinbase app on iOS and Android to see LINK token listing on Coinbase app.

You may also read…
Coinbase Custody Platform Partners With Leading Crypto Index Provider

Obviously, Coinbase’s listing made a spectacular mark on LINK’s trading volume within a very short span of time – but it is worth to note that they had earlier announced the launch of its mainnet on ETH network with the aim to tackle connectivity issues in smart contracts.
Talking about the market, it is quite mixed with positive and negative remarks – nevertheless, LINK token among top 20 cryptocurrencies pops with major pump i.e 58.82 percent within the last 24 hours.
So readers, what’s your take on Coinbase listing LINK.? Do you think LINK token will again see an upsurge in its trading volume.? Let us know in the comment below
The post This Token Surges 58% Higher Following Coinbase Listing appeared first on Coingape.
Source: CoinGape

Chainlink Started Live Trading on Coinbase, LINK Price Skyrockets

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Chainlink Started Live Trading on Coinbase, LINK Price Skyrockets
Coinbase began trading Chainlink today. LINK is available to trade with the U.S. dollar (LINK/USD) and with Ether (ETH) (LINK/ETH). LINK price reacts to the news adding enormous 54.11%.
Chainlink Started Live Trading on Coinbase, LINK Price Skyrockets

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Source: CoinSpeaker

Crypto-Market Update: BTC Dominance at 63%; Alts XRP, ETH Test 1-Year Support

Bitcoin’s [BTC] exaggerating run is a great piece of news for Bitcoin ‘holders’ and persistent bulls. Moreover, while the altcoins have also gained slightly with the momentum, the holders are altcoins are growing increasingly uncertain.
There is a massive sell-out of altcoins that is currently in progression w.r.t. Bitcoin. Nevertheless, as the value remains consistent concerning the dollar due to Bitcoin’s rise, it might also seem justified that altcoin holders are still hoping for a revival of the market.
Also Read: #CoinbaseDown: Bitcoin [BTC] Dropped by $2k Just Below $14000 – Here’s What Happened
The total market capitalization of altcoins hasn’t increased much as there is significant de-coupling between Bitcoin and altcoins at the moment. While Bitcoin continues to hover around $13000, the altcoins lost about $7 billion since yesterday, bringing the total market capitalization of altcoins close to $130 billion again.
Total Market Capitalization of Altcoins (i.e., Bitcoin Excluded) (CoinMarketCap)
Ethereum and XRP Testing Major Support Level
Nevertheless, Ethereeum has been rising steadily with bitcoin as it broke above $350. The altcoins are currently testing significant support levels on the weekly w.r.t. Bitcoin. However, almost all other altcoins are taking massives double-digit losses with respect to Bitcoin.
ETH/BTC Weekly Chart on Bittrex (TradingView)
XRP/BTC graph is also showing similar characteristics. Bitcoin’s exuberant rise has been highly diminishing for XRP holders who continue to lose value w.r.t Bitcoin [BTC].
XRP/BTC Weekly Chart on Bittrex (TradingView)
Bitcoin Cash [BCH] which broke above $500 recently, also traded lower both with respect to Bitcoin and USD. The price of Bitcoin Cash [BCH] at 5: 45 hours UTC on 27th May 2019 is $480. It is trading 2% lower on a daily scale. The other altcoins are also recording similar losses.
Litecoin [LTC] and Binance [BNB] Coin are down nearly 4%. Furthermore, EOS, Tron, and Cardano are also taking massive losses of about 8%.
The only notable increase was seen in Chainlink, as it gained 15% on a daily scale. It can be attributed to the educational video on the Google cloud platform that mentioned the use of Chainlink.
Do you think altcoins will be making a reversal soon or there is further downside to it? Please share your views with us. 
The post Crypto-Market Update: BTC Dominance at 63%; Alts XRP, ETH Test 1-Year Support appeared first on Coingape.
Source: CoinGape

Coinbase Pro Lists Ethereum-Based Chainlink (LINK) After Google ‘Name Drop’

Despite the fact that crypto assets are bleeding out against Bitcoin, the Ethereum-based LINK (Chainlink) has recently received the support of Coinbase. This comes amid BTC’s move to $13,400, marking a 333% rally from the cycle bottom of $3,150.
LINK Down 1.2% Despite Coinbase Listing
Announced Wednesday via a blog post, Coinbase Pro, the startup’s cryptocurrency exchange for professional traders, will soon be listing LINK.
Related Reading: Why The Current Bitcoin (BTC) Recovery is 3x Faster Than Last Crypto Cycle
Per the announcement, starting around an hour ago, the platform will be accepting inbound deposits for the Ethereum token. Once “sufficient supply” of LINK is established on Coinbase-owned wallets and 12 hours of depositing has elapsed, Coinbase will commence trading for the asset.
Trading will take place against U.S. dollars and Ethereum. And the asset on Coinbase Pro will be supported in all jurisdictions the exchange is available in, sans New York State due to regulatory concerns.

Our LINK/USD, and LINK/ETH order books will soon enter transfer-only mode, accepting inbound transfers of LINK in supported regions. Orders cannot be placed or filled. Order books will be in transfer-only mode for a minimum of 12 hours. https://t.co/BnVOqhFUdV
— Coinbase Pro (@CoinbasePro) June 26, 2019

As normal, the launch of trading will take place in four steps: deposits, posting limit orders, matching limit orders, and then full trading.
Despite this listing, however, LINK is down in the past 24 hours. In fact, according to Coin Market Cap, the cryptocurrency is down 1.2%, and down nearly 20% against the market leader, Bitcoin. This confirms this outlet’s previous reports, which revealed that by and large, the so-called “Coinbase (Listing) Effect” is dead.
Google Lauds Chainlink
This news comes hot on the heels of a statement of support for the project from Google. Per previous reports from NewsBTC, Google Cloud, the firm’s cloud computing services platform, released an article titled “Building hybrid blockchain/cloud applications with Ethereum and Google Cloud”.
While this was big news in and of itself, the crypto community focused on the article’s mention of Chainlink, which is focused on facilitating data from the Internet to be translated to and verified for blockchain.
The Ethereum project’s claim to fame is its so-called “oracle” system, which is a recently-launched product meant to improve processes made via blockchain. For instance, if someone is betting on a real-world financial scenario with the Ethereum-centric Augur, an oracle can be used to make the outcome verification process much easier. In the recent post, Google’s Allen Day adds:
“Possible applications are innumerable, but we’ve focused this post on a few that we think are of high and immediate utility: prediction marketplaces, futures contracts, and transaction privacy.”
This recent integration will allow for Chainlink, and Ethereum smart contracts by extension, to interact with BigQuery, Google’s data analyzer and portal. What this does is allows for developers to build decentralized applications that can harness Google, theoretically improving the efficiency and viability of smart contracts.
Featured Image from Shutterstock
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Source: New feedNewsBTC.com

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.
Source: New feedNewsBTC.com