Bitcoin And Crypto Market Cap Facing Hurdles: BCH, Litecoin, TRX, XLM Analysis

The total crypto market cap corrected a few points, but it faced a strong resistance near $215.0B.
Bitcoin price is also correcting higher, but it is likely to struggle to clear the $8,200 resistance.
Litecoin (LTC) price is now facing resistance near the $55.50 and $56.50 levels.
BCH price is holding the main $215 support area and it is currently rebounding.
Tron (TRX) price is climbing higher and it is now placed nicely above the $0.0150 level.
Stellar (XLM) price is up more than 2% and it is moving towards the $0.0650 resistance.

The crypto market cap and bitcoin (BTC) are facing many hurdles on the upside. Ethereum (ETH), litecoin (LTC), ripple, BCH, tron (TRX), stellar (XLM) and other altcoins could struggle to climb higher.
Bitcoin Cash Price Analysis
BCH price corrected lower recently and tested the $215 support area against the US Dollar. The price is currently moving higher and is trading near the $220 level. On the upside, there is a major resistance near the $230 level, above which the price could recover towards the $240 level in the near term.
On the downside, if there is a bearish break below the $215 support, the price could decline towards the $205 and $200 support levels.
Litecoin (LTC), Tron (TRX) and Stellar (XLM) Price Analysis
Litecoin price managed to stay above the $51.50 and $50.00 support levels. LTC price is currently recovering and is trading above the $54.00 level. However, there are a few key hurdles near the $55.50 and $56.00 levels, above which the price could revisit the main $60.00 resistance area.
Tron price declined recently and tested the $0.0145 support area. TRX price remained well bid and recently started a nice upward move above the $0.0150 resistance area. The price is up more than 3% and it could continue to rise towards the $0.0155 resistance level in the near term.
Stellar price also declined recently and tested the $0.0600 support area. XLM price is now climbing higher and is trading above the $0.0625 resistance area. However, there is a major resistance near $0.0650, above which the price could continue to rise towards $0.0682 and $0.0695.

Looking at the total cryptocurrency market cap 4-hours chart, there was a decent recovery from the $205.0B support area. However, the market cap struggled to clear a key resistance near the $215.0B level and the 100 SMA. Moreover, there is a connecting bearish trend line forming with resistance near $215.0B. Therefore, a clear break above the $215.0B resistance is needed for a nice rally in bitcoin, Ethereum, EOS, litecoin, ripple, XLM, BCH, BNB, TRX, ADA, XMR, and other altcoins in the coming sessions.
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Crypto Market And Bitcoin Could Rise Steadily: BCH, Litecoin, EOS, XLM Analysis

The total crypto market cap is showing positive signs above the $210.0B support area.
Bitcoin price needs to surpass the $8,400 resistance area to continue higher in the near term.
Litecoin (LTC) price is still struggling to climb above the key $60.00 resistance area.
Bitcoin cash price is slowly rising towards the $235 resistance area.
EOS price seems to be consolidating gains above the $3.050 and $3.000 support levels.
Stellar (XLM) price is up more than 5% and it recently broke the $0.0650 resistance area.

Bitcoin (BTC) and the crypto market cap are likely to rise steadily in the near term. Ethereum (ETH), LTC, ripple, bitcoin cash, EOS, TRX, and stellar are showing positive signs.
Bitcoin Cash Price Analysis
Recently, there was a minor downside correction in BCH price below the $225 level against the US Dollar. However, the BCH/USD pair remained well supported near the $215 level. The price is currently climbing higher and is trading nicely above the $225 level.
On the upside, there are two important resistances near $235 and $240, above which the price is likely to accelerate gains towards the $250 and $265 resistance levels.
Litecoin (LTC), EOS and Stellar (XLM) Price Analysis
Litecoin price failed to gain momentum above the $58.00 and $60.00 resistance levels. However, LTC price is holding the $55.50 support area and it is currently trading in a range. Overall, it must surpass the key $60.00 resistance level to start a strong rise in the coming sessions.
EOS price settled above the $3.050 support area and it is trading in a range. On the upside, the main hurdle is near the $3.250 and $3.300 levels. A successful break above the $3.3000 resistance area might start an increase towards the next hurdle near the $3.500 level.
Stellar price is performing nicely above the $0.0600 pivot level. XLM price is up more than 5% today and it broke the $0.0620 and $0.0650 resistance levels. The next resistance is near the $0.0675, above which the price could revisit the $0.0695 and $0.0700 levels.

Looking at the total cryptocurrency market cap 4-hours chart, there is a strong resistance forming near the $220.0B and $225.0B levels. If there is a successful close above $225.0B, the market cap could start a decent rise towards the $250.0B and $260.0B resistance levels. On the downside, an immediate support is near the $210.0B level, below which it could revisit $200.0B. Only a close below $200.0B may perhaps decrease chances of a decent increase. Overall, there are chances of a decent increase in bitcoin, Ethereum, EOS, litecoin, ripple, XLM, BCH, ADA, BNB, TRX, ICX, and other altcoins in the near term.
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Crypto Market Cap And Bitcoin Could Rally: BCH, LTC, EOS, ADA Analysis

The total crypto market cap is holding a strong support area near the $220.0B level.
Bitcoin price is consolidating above $8,500 and it could rally further in the near term.
Litecoin (LTC) price must clear the $60.00 resistance area to continue higher.
BCH price is facing a strong resistance near the $235 and $240 levels.
EOS price is consolidating below the $3.250 and $3.300 resistance levels.
Cardano (ADA) price is currently consolidating above the $0.0400 support area.

The crypto market cap is showing positive signs along with bitcoin and Ethereum (ETH). Altcoins such as ripple, litecoin, BCH, EOS, tron (TRX), and ADA could slowly rise.
Bitcoin Cash Price Analysis
In the past two days, bitcoin cash price remained stable above the $210 and $215 levels against the US Dollar. Moreover, the BCH/USD pair made an attempt to climb above the $235 and $240 resistance levels, but it struggled to gain momentum. Thus, if there is a clear break above $240, the price could march towards $250.
On the downside, the main support is near the $215 level. Therefore, below $215, the price could move back towards the key $205 and $200 support levels in the near term.
Litecoin (LTC), EOS and Stellar (XLM) Price Analysis
Litecoin price is consolidating above the $56.50 and $55.50 support levels. On the upside, there is a strong resistance forming near the $60.00 level, above which there are chances of a fresh increase towards the $65.00 and $68.00 levels.
EOS price settled above the $3.050 pivot level and it is currently trading in a range. On the upside, there are a few hurdles near the $3.300 level, above which the price might surge towards the $3.500 level. On the downside a break below $3.000 could push the price into a bearish zone.
Cardano price is currently consolidating above the $0.0400 support area. On the upside, an immediate resistance is near the $0.0425, above which the price is likely to climb higher towards the $0.0450 level. The next key resistance is near the $0.0485 and $0.0500 levels.

Looking at the total cryptocurrency market cap hourly chart, there was a major upside break above the key $220.0B resistance level. The market cap is currently consolidating above the $220.0 level and it seems to be setting up for the next key break. If there is an upside break above $226.0B, the market cap could continue to rise. An immediate resistance is near the $235.0B and $240.0B levels. The next major resistance is near the $250.0B level. Overall, there are high chances of more upsides in bitcoin, Ethereum, EOS, litecoin, ripple, ADA, BCH, XLM, BNB, TRX, XMR, and other altcoins in the coming sessions.
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Crypto Market And Bitcoin Struggle Continues: BCH, Litecoin, EOS, XLM Analysis

The total crypto market cap is facing a strong resistance near the $218.0B and $220.0B levels.
Bitcoin price failed to gain momentum above $8,300 and recently declined below $8,200.
Litecoin (LTC) price is still trading well below the main $60.00 resistance area.
Bitcoin cash price is currently correcting gains and it could test the $220.00 support.
EOS price failed to surpass the $3.250 resistance and is currently declining towards $3.050.
Stellar (XLM) price is currently consolidating gains above the $0.0600 support area.

Bitcoin (BTC) and the crypto market cap are struggling to gain bullish momentum. Ethereum (ETH), LTC, ripple, bitcoin cash, EOS, TRX, and stellar are currently correcting gains.
Bitcoin Cash Price Analysis
After a decent upward move, BCH price faced resistance near the $235 and $240 levels against the US Dollar. The BCH/USD pair is currently correcting lower towards the $225 level. It seems like the price could test the $220 support area in the near term.
The main supports on the downside are near the $205 level. On the upside, a clear break above $240 is needed for more gains towards the $250 and $265 levels.
Litecoin (LTC), EOS and Stellar (XLM) Price Analysis
Litecoin price recovered above the $55.00 and $56.50 resistance levels. However, LTC price struggled to gain momentum above $58.50 and remained well below the key $60.00 resistance area. The price is currently correcting lower and it may perhaps test the $55.00 support area.
EOS price climbed higher recently and tested the $3.250 resistance area, where sellers appeared. The price is currently correcting lower and is trading below the $3.200 level. If there are more downsides, the price could test the $3.050 support area in the near term.
Stellar price climbed higher positively above the $0.0620 level. However, XLM price failed to gain momentum above the $0.0630 level and recently started a downside correction. It seems like the price could test $0.0600 or $0.0595 before starting a fresh increase.

Looking at the total cryptocurrency market cap 4-hours chart, there was a decent upward move above $210.0B. However, the market cap faced a strong resistance near the $218.0B and $220.0B levels. Moreover, the 100 SMA also acted as a crucial resistance. The market cap is currently correcting lower and it could test the $205.0B support area. The main support on the downside is near the $200.0B level, below which there could be a sharp decline in bitcoin, Ethereum, EOS, litecoin, ripple, XLM, BCH, ADA, BNB, TRX, ICX, and other altcoins. Conversely, a clear break above the $220.0B resistance and close above the 100 SMA is needed for an upside acceleration in the near term.
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Price Analysis October 4: Bitcoin, Ripple [XRP], Litecoin, Credits and EOS

Ripple, Litecoin, EOS and Credits break away from the general bearish trend to record relatively impressive gains on Friday.
EOS is likely to plunge back to $2.6 in the event the continuation flag pattern takes center stage.
The cryptocurrency market is mixed red and green on Friday following a lethargic of the trading week. Most cryptocurrencies including Bitcoin strongly pushed for recovery, however, key hurdles kept significant gains at bay. The top three digital assets could push above specific seller congestion zones. For instance, Bitcoin broke above $8,500 but failed to penetrate the $8,600 hurdle. Ethereum made above $180 but $185 was a hard nut to crack. Ripple, on the other hand, pushed against key support areas but failed to break $0.26 resistance.
Elsewhere in the market, Apple’s CEO Tim Cook has made it clear that the technology giant has no plans of issuing a cryptocurrency. Cook reckons that matters to do be currency are better off left for the state.
His comments come amid the ongoing Lobby to have Facebook Inc.’s Libra digital currency launch. Moreover, the regulators in the United States demand to meet the CEO of Facebook Mark Zuckerberg by January 2020.
While the regulatory tussle continues, reports surfacing say that some of the 28 members of the Libra Association are considering exiting the project. MasterCard, Visa and even PayPal are said to have cold feet over their involvement. A possible reason for the cold feet is to ensure that they do not harm the reputation they have already built with regulators over the years. In fact, PayPal did not attend a Libra Association meeting in Washington DC held on October 3.
Bitcoin Price Analysis – XBT/USD 1-hour chart
Bitcoin is forming a short-term ascending triangle bullish pattern that is gradually approaching a breakout. On confirmation of the breakout, Bitcoin’s bullish leg will target the hurdle at $8,500. The hardest task for Bitcoin bulls is to hold the price above the ascending trendline support. This will allow them to increase entries which coupled with a stronger technical picture and high volume will propel the cryptoasset to highs towards $9,000.
XBT/USD hourly chart by Tradingview
Meanwhile, the short-term picture suggests that the sellers are in control. The moving average convergence divergence (MACD) is stuck within the negative region. Besides, the increasing negative divergence signals that the bearish action will continue to prevail until the bullish setup discussed above comes into action. Krptoben, an analyst with Tradingview shares similar breakout sentiments:
“BTC Forming Ascending triangle textbook bullish must break resistance at 8481 to confirm this bullish pattern and hold this slopping support trend line. Let’s see if btc bulls can push upwards movements in the short term.”
Ripple (XRP) Price Analysis
 
Ripple is nurturing a bullish trend on Friday and seems to be breaking away from the other major cryptocurrencies. This follows a pulldown that has been happening since the beginning of October. The 38.2% Fib retracement level taken between the last swing high of $2636 to a swing low of $0.2324 cushioned the declines that formed a low at $0.24.
The upward correction in the last couple of days has seen XRP step above key levels including the moving averages (both the 50 MA and the 100 MA on the hourly chart). In addition to that, the price is back in in the upward trending channel. The moving average convergence divergence (MACD) also shows that the buyers are taking back control.
Source: TradingView
Litecoin (LTC) Price Analysis
Litecoin is stuck in a range between $52 (support) and $57.50 (resistance) for more than a week now. All attempts to break above the range limit have been thwarted by the existing selling pressure. For instance, the minor bullish leg on Friday managed to break above the 50 MA on the 4-hour chart but fizzled out at $57.50. Litecoin is currently trading at $57 amid a building bearish momentum.
Source: TradingView
The moving average convergence divergence suggests the current trend will remain sideways. The indicator recovery made it above the mean line but failed to maintain the uptrend. For now, we can expect LTC to remain in range until a breakout occurs towards $60.
Credits Price Analysis – CS/BTC 4H Chart
Against the background of the general market decline, the CS / BTC trading pair shows a positive trend in terms of growth in volumes and prices. On the chart, we can see that the price once again has rebounded from the support line in the zone of 0.0000105-0.0000110 BTC and is preparing for a retest of the resistance zone around 0.0000127-0.0000130 BTC. Breaking this zone will enable the price to go up to the zone of 0.000015-0.000016 BTC. The overselling of technical indicators can be an additional incentive for investors when deciding to enter a position as well as fundamental news performance.
Chart Source by TradingView
EOS price analysis
EOS is also developing its own path towards recovery despite the general picture in the crypto market being negative. The overwhelming breakout last week was halted at $2.6 (major support) giving way for the ongoing bullish action within a flag pattern.
Source: TradingView
The price is up 2% on the day and trading the 50 MA on the four-hour chart. Also trending upwards is the relative strength index (RSI). The indictor’s lows have been making a higher high pattern. At press time, The RSI at 50 is still pointing upwards relative to the ongoing correction likely to break above $0.30

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Source: CoinGape

Bitcoin And Crypto Market Remain At Risk: LTC, BNB, BCH, TRX Analysis

The total crypto market cap is struggling to break the key $220.0B resistance area.
Bitcoin price is now trading well below the $8,400 and $8,500 resistance levels.
Binance coin (BNB) price is slowly declining and it could test the $15.20 support area.
Litecoin (LTC) price is somehow holding the key $55.00 support area.
BCH price is consolidating above the key $220 support level, with bearish signs.
Tron (TRX) price settled above the $0.0140 level, but it is facing hurdles near the $0.0150 level.

The crypto market cap and bitcoin (BTC) are trading below key resistance. Ethereum (ETH), litecoin, ripple, BCH, TRX, XLM, BNB and EOS are slowly moving lower.
Bitcoin Cash Price Analysis
BCH price failed to clear the $235 resistance area and recently corrected lower against the US Dollar. The BCH/USD pair tested the $220 support level and it is currently trading in a range. If there is a downside break below the $220 support, the price could test the $205 or $200 support level.
On the upside, there are hurdles forming near the $230 and $235 levels. A clear break above the $235 resistance might push the price towards the $250 resistance area.
Binance Coin (BNB), Litecoin (LTC) and Tron (TRX) Price Analysis
Binance coin (BNB) price is currently trading in a range above the $15.00 support area. On the upside, BNB price is facing a strong resistance near the $16.00 and $16.20 levels. On the downside, a break below the $15.00 support could lead the price towards the $14.20 support.
Litecoin price is somehow holding the $55.00 support area. If LTC price breaks the $55.00 support level, there is a risk of another drop towards the $50.00 support area. On the upside, the price must break the $58.00 and $60.00 resistance levels to move into a positive zone.
Tron price recovered from the $0.0120 support area and it settled above the $0.0140 level. However, TRX price is now facing a strong resistance near the $0.0150 level. If there is a daily close above the $0.0150 resistance, there are chances of more upsides above the $0.0155 and $0.0160 levels in the near term.

Looking at the total cryptocurrency market cap 4-hours chart, there is a crucial resistance forming near the $220.0B level. Moreover, there is a connecting bearish trend line forming with resistance near $215.0B on the same chart. To start a strong upward move, the market cap must surpass the $220.0B resistance area. On the downside, the main support is near the $200.0B level. If there is a break below the $200.0B support, it could spark another drop in bitcoin, Ethereum, EOS, litecoin, ripple, binance coin, BCH, TRX, XMR, XLM and other altcoins in the near term.
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Bitcoin And Crypto Market Cap Near Key Juncture: BCH, XLM, EOS, TRX Analysis

The total crypto market cap is slowly moving higher towards the key $220.0B resistance area.
Bitcoin price might soon make another attempt to surpass the key $8,500 resistance area.
BCH price is holding the $220 support, but it is facing hurdles near the $235 resistance.
EOS price is climbing above $3.000 and it may perhaps revisit the $3.100 area.
Stellar (XLM) price must surpass the $0.0600 and $0.0620 resistance levels for more gains.
Tron (TRX) price is climbing higher towards the key $0.0150 resistance area.

Bitcoin (BTC) and the crypto market cap are currently approaching key resistances. Ethereum (ETH), BCH, stellar (XLM), ADA, EOS, ripple, and tron (TRX) might struggle to continue higher.
Bitcoin Cash Price Analysis
Recently, BCH price corrected lower from the $235 resistance area against the US Dollar. The BCH/USD pair traded below the $225 level and tested the $220 support. The price is now consolidating and it seems like it could rise again towards the $235 resistance area in the near term.
On the downside, the key support is near the $220 level. If there are more downsides, the price could test the $205 and $200 support levels.
Stellar (XLM), EOS and Tron (TRX) Price Analysis
EOS price corrected lower below the $3.000 level and tested the $2.850 support area. The price is moving higher once again and it about to break the $3.000 resistance area. If the bulls remain in action, the price may perhaps revisit the $3.100 resistance. The next key resistance is near the $3.250 level.
Stellar price is slowly rising from the $0.0500 support area. XLM price is approaching the key $0.0600 resistance area. If there is a successful break above the $0.0600 resistance area, there could be more gains towards the $0.0620 and $0.0650 levels in the near term.
Tron price managed to stay above the $0.0130 level and recently climbed above $0.0140. TRX price is now trading above the $0.0142 level and it seems like it could even break the $0.0145 level. If there are more upsides, the next stop for the bulls could be near the $0.0150 resistance.

Looking at the total cryptocurrency market cap 4-hours chart, the $200.0B level is acting as a strong support. The market cap is currently moving higher, but it is facing a crucial resistance near the $220.0B level and a connecting bearish trend line on the same chart. A clear break above the $220.0B resistance is needed for more gains in the coming sessions. In the mentioned bullish case, there could be a decent recovery in bitcoin, Ethereum, EOS, ripple, litecoin, bitcoin cash, XLM, TRX, BNB, WAN, WTC, ICX, and other altcoins in the near term.
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German Serial Entrepreneur Marvin Steinberg Discusses the Benefits of STOs

Coinspeaker
German Serial Entrepreneur Marvin Steinberg Discusses the Benefits of STOs
Though ICOs have already lost their positions, STOs, being regulated and more secure, are still here. Marvin Steinberg has shared his vision on the benefits STOs can bring to investors.
German Serial Entrepreneur Marvin Steinberg Discusses the Benefits of STOs

Continue reading at Coinspeaker
Source: CoinSpeaker

Crypto Market Cap And Bitcoin Facing Resistance: BCH, BNB, EOS, TRX Analysis

The total crypto market cap is facing a strong resistance near the $220.0B level.
Bitcoin price is also trading below a crucial resistance area near the $8,500 level.
EOS price failed to hold the $3.000 support and declined below $2.950.
Binance Coin (BNB) is declining and it might test the $15.00 support area.
BCH price struggled to clear the $235 resistance and it is currently trading towards the $220 support.
Tron (TRX) price is down more than 5% and it broke the $0.0140 support area.

The crypto market cap and bitcoin (BTC) are facing important resistances. Ethereum (ETH), binance coin (BNB), ripple, BCH, tron (TRX), litecoin and EOS are currently declining.
Bitcoin Cash Price Analysis
There was an upside correction in BCH price above the $225 and $230 levels against the US Dollar. However, the BCH/USD pair struggled to clear the $235 resistance level and recently started a fresh decline. It broke the $230 level and it is currently trading just below $225.
It seems like the price might test the $220 level. Any further losses could push the price towards the $205 support area in the near term. On the upside, the main resistance is near the $235 level.
Binance Coin (BNB), EOS, Tron (TRX) Price Analysis
EOS price rallied sharply earlier this week and broke the $3.000 resistance area. The price tested the $3.100 level and recently started a downside correction below the $3.000 level. It seems like the price may perhaps correct further lower and test the $2.850 support area.
Tron price surged more than 10% and climbed above the $0.0145 level. However, TRX price failed to continue higher and recently corrected more than 5% below $0.0142. The price is now trading below $0.0140 and it might test the $0.0138 support level.
Binance coin (BNB) corrected above the $16.00 level, but it struggled to surpass the $16.20 resistance area. BNB price is now trading below $16.00 and it could test the $15.25 or $15.00 support in the coming sessions. On the upside, the main resistance for the bulls is near the $16.20 level.

Looking at the total cryptocurrency market cap 4-hours chart, there was a minor upside correction from the $200.0B support area. However, the market cap failed to climb above the $220.0B resistance area. There is also a connecting bearish trend line forming with resistance near $220.0B on the same chart. Therefore, a clear break above the $220.0B resistance is needed for a decent upward move. If not, there could be another decline in bitcoin, Ethereum, TRX, LTC, EOS, ripple, ADA, XLM, WTC, BCH, and ICX in the near term.
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Block.One Vs SEC – How EOS’ Parent Company Got Away With a Small Fine For its Unregistered ICO

EOS’ parent company, the Block.One was in the soup with the US SEC for conducting an unregistered Initial Coin Offering (ICO) in the US. While the crypto community was expecting the SEC to impose several penalties on the company, Block.One was let off rather lightly with just a $24 MM fine. Katherine Wu, former Director of Business Development at Messari, and the current Principal at Notation Capital have dissected Block.One’s settlement with the SEC to reveal that the key to getting away with violating SEC’s regulations is “be cooperative”.
Katherine Wu’s Take on the Waiver Letter from EOS’ Lawyers to SEC
The SEC had proposed a “Cease and Desist” order against Block.One for violating SEC’s regulations and conducting an unregistered Initial Coin Offering (ICO). The proposed order could have led potentially forced Block.One to put a stop to their operations.
The letter that was sent from EOS’ lawyers to the SEC sought “a waiver of any disqualification that will arise under Regulation A and Regulation D with respect to Block.one or any of its affiliates as a result of the entry of the Proposed Order.” The letter admits that the Block.One’s activities violated sections 5(a) and 5(c) of the Securities Act as the company sold unregistered securities to US-based persons.
But, the letter also points to the fact that the proposed order had described “activities that involve the offer and sale of a security, but do not involve a criminal conviction or a violation of any anti-fraud statutes – scienter or nonscienter based”. Therefore, “Block.one will not be held to a “greater” burden under the Division’s waiver policy”. According to Katherine Wu, this is a big win for EOS as the SEC said that there was no fraud or criminal conviction in the sale.
Source: https://static1.squarespace.com
The letter further explains how Block.One ensured the “Responsibility of Conduct”. It first explains how Block.One tried to disable US-based persons from purchasing the ERC20 tokens by using “geoblock” to prevent anyone with a US-based IP address from buying tokens on the EOS.IO website. It also stated that the company had made it clear in their purchase agreement that US-based persons were prohibited from buying the ERC20 tokens in the token sale, and that those purchasing the tokens had to establish that they were not US residents.
Then the letter tried to establish how Block.one had try to fix the damage done. The letter says that Block.One has hired new executives after the token sale – its new Chief Legal Officer, Chief Financial Officer and current General Counsel are “primarily responsible for ensuring compliance with securities laws generally and Regulation D or Regulation A specifically”. The letter also reveals that the members of the executive committee have been “educated by experienced outside securities counsel on procedures required for compliance with securities regulations generally and Regulation D specifically”.
Further, the letter elaborates on how Block.One’s team members are working towards ensuring legal and regulatory compliance. Wu takes a dig at Block.One by saying that it is trying to show that “there are grown-ups are EOS today.”
After establishing the strength of the EOS team, the letter tries to convince the SEC that its intention is to digital assets that are true cryptocurrencies and ensure that they are fully compliant with the requirements of the US securities laws. Block.One says that with a special reference to the Voice platform which it started on the EOSIO blockchain software in June this year.
“If the Voice tokens or any future digital asset developed by Block.one are made available to U.S.-based individuals by Block.one, or if Block.one allows for distribution or transfer of any such digital asset to U.S.-based individuals, Block.one has engaged and will continue to engage experienced U.S. securities counsel to work with its internal legal and compliance team to consider and apply such guidance in structuring the Voice platform, designing any distribution of the Voice token and managing public statements by Block.one.”
The letter repeatedly emphasizes on how it will not repeat its previous mistakes again – it will work closely with its securities counsel in any activities involved with Regulation D. Wu says that this is how Block.One got away with just a $24 MM fine – by being “cooperative”.
Block One’s Billion-dollar Fund
Next, the letter talks about how Block.One and third parties would be affected if the waiver was denied. It shares that a $1 Bn from the Token Distribution proceeds has been allocated towards offering “developers and entrepreneurs the funding they need to create community-driven businesses leveraging EOSIO software”. It further tries to convince the SEC that the denial of the waiver will lead to an inability of the company “to deploy capital for investment in securities issued by U.S.-based small businesses and growth-stage companies”. The same would not be beneficial for Block.one’s shareholders “as capital may be forced to sit idle rather than being deployed to growth-stage technology companies across the globe”.
However, the company also shirks off responsibility for delivering products that can be deployed. The letter says –
“Block.one is a growth stage company focused on developing novel, innovative technology. Block.one has spent and will spend large amounts of capital to invest in the research and development of new technology, but as in any R&D program, it is possible that many of these efforts may never be deemed viable for deployment.”
Block.One also stresses that disqualification from reliance on Regulation D will also limit the company’s fundraising options. According to the letter, the denial of the waiver is likely to be disadvantageous to Block.one as it will hinder “strategic growth partners, technology partners or acquisition targets that are essential to Block.one continuing to innovate, grow, support the EOSIO blockchain software and create value for its shareholders”.
Finally, the letter arrives at the request for a waiver from the disqualification of Block.one from relying on Regulation A and Rule 506 of Regulation D. The letter says that it is not “necessary”.
Source: https://static1.squarespace.com
The SEC Settlement
Block.One’s lawyers undoubtedly did a good job with convincing the SEC of the importance of letting go off Block.One without a harsh penalty.
The order mentioned various instances of Block.One’s violation of the laws. First, it mentioned that EOS has not ascertained from purchasers of tokens on the EOS.IO website if they were US-based persons or not. Secondly, it pointed to the fact that Block.One had actively marketed its ICO in the US. Block.One had participated in many conferences in the US, including a major one held in New York on May 2017, and marketed its ICO in the conferences. The company had also advertised EOSIO on a billboard in the Times Square around the same time. The EOS website, its white paper, social media handles, promotional statements, etc. were available to US-based persons.
Thirdly, during the token sale, the tokens were listed on many trading platforms that were available to US-based persons as well, and Block.One did not try to “prevent the ERC-20 Tokens from being immediately re-sellable to U.S.-based purchasers in secondary market trades”.
The order also described how the purchases of Block.One’s ERC20 tokens could have reasonably expected that they would profit from the efforts of the company. Firstly, Block.One was raising funds to build a profitable enterprise and it was easy for token holders to understand that if the company was successful in doing so, they would profit from the tokens.
Secondly, purchasers of tokens would have understood that Block.One was a for-profit entity. Thirdly, Block.One had announced the billion-dollar fund that it had allocated to help initiatives that “returned value to the network.” This could also be assumed as third-party efforts in aiding the growth of EOS tokens.
Fourthly, Block.One had “actively engaged U.S. purchasers and potential U.S. purchasers on social media, online message boards, and other outlets”. In marketing the EOSIO software, Block.one had also influenced US-based purchasers to rely on the expertise and vision of the EOS founders “to secure the widespread adoption of the EOSIO software and anticipated launch of one or more EOSIO blockchains”.
The order then established that in doing all of the aforementioned things, Block.One had violated section 5(a) and section 5(c) of the Securities Act. In simple words, it had offered unregistered securities to US-based persons.
However, despite having a very strong case against Block.One, the SEC let the company off with just a $24 MM fine and a warning to not engage in any violations of Section (a) and Section (c) of the Securities Act in the future. The $24 MM will be transferred to the general fund of the US Treasury.
SEC’s Decision Leaves Community Bewildered
The light penalty that Block.One has been given has left the crypto community bewildered with many questions. As Katherine Wu stated, perhaps, companies can get away with violations simply by being “cooperative”.
Marco Santori, the President and Chief Legal Officer also shared his analysis of the SEC order which seemed to suggest that the SEC had not looked at all the aspects of the token sale. According to Santori, the SEC had focused on the intermediary ERC20 token and not on the native EOS token which was ultimately launched on the blockchain. Secondly, Block.One’s token raised money from global investors, while the SEC was concerned only with US-based investors. The small fine amount could have been calculated on the basis of the money Block.One raised by US investors. The complete analysis can be found here.
Eric Voorhees, the CEO of Shapeshift.com tweeted that the most important part of the SEC settlement was the way the pre-product, pre-launch token and the post-product, the post-launch token was treated.
Source: Twitter
Crypto Researcher Larry Cermak took a dig at the SEC with his OP-ED piece titled “Don’t ask for permission, hire good lawyers and then ask for forgiveness”.
What do you think about SEC’s decision on EOS? Should EOS have been given a harsher penalty? Has the SEC done the crypto community a favor by not clamping down EOS’ operations? Share your views with us in the comments below!
The post Block.One Vs SEC – How EOS’ Parent Company Got Away With a Small Fine For its Unregistered ICO appeared first on Coingape.
Source: CoinGape

Top 10 Web Crypto Wallets of 2019

Coinspeaker
Top 10 Web Crypto Wallets of 2019
While there’s a whole myriad of alternatives for storing your cryptos online, we decided to help you limit the scope with a review of the top 10 web wallets of 2019.
Top 10 Web Crypto Wallets of 2019

Continue reading at Coinspeaker
Source: CoinSpeaker

XRP uses ‘securities-like language’, while Litecoin and Bitcoin stand clear, claims Crypto Rating Council

Will the real security please stand up? The debate around whether cryptocurrencies should be classified as “securities,” has been raging for the past few years. Heating up ever since companies began issuing their own “cryptocurrencies,” while distancing themselves from its inner governance, the case of what differentiates a company issuing an ownership share and a […]
The post XRP uses ‘securities-like language’, while Litecoin and Bitcoin stand clear, claims Crypto Rating Council appeared first on AMBCrypto.
Source: AMB Crypto

Bitcoin And Crypto Market Extending Decline: BCH, EOS, TRX, ADA Analysis

The total crypto market cap is below $210.0B and is likely to extend its decline.
Bitcoin price is trading below $8,000 and it is moving with a bearish angle.
EOS price is down more than 2% and is approaching the $2.700 and $2.650 support levels.
BCH price is facing resistance near the $225 level and it could revisit the $200 support area
Tron (TRX) price is approaching the $0.0130 level and it might continue to decline.
Cardano (ADA) price is down 5% and it recently broke the key $0.0385 support area.

Bitcoin and the crypto market cap are currently extending their decline. Ethereum (ETH), EOS, Tron (TRX), BCH, ripple, ADA and BNB are trading in a bearish zone.
Bitcoin Cash Price Analysis
After a strong decline, BCH price found support near the $200 level against the US Dollar. The price started an upside correction and traded above the $210 level. However, the price struggled to break the $225 resistance level and it is currently trading with a bearish bias.
It seems like the price might once again break the $210 support. If there is a downside break, the price could even break the key $200 support area in the near term.
EOS, Tron (TRX) and ADA Price Analysis
EOS price declined heavily and settled below the $3.000 support area. The price is currently trading below the $2.850 support area and it might soon test the $2.700 or $2.650 support. The main support on the downside is near the $2.500 level. On the upside, a close above $3.000 is needed for a decent recovery.
Tron price is trading in a strong downtrend below the $0.0150 level. TRX price even broke the $0.0140 support and it is currently approaching the $0.0130 level. If there are more downsides, the price could test the $0.0120 level in the coming sessions.
Cardano price is down more than 25% in the past few days and it is now trading well below the $0.0500 level. ADA price broke the $0.0400 support and it is now approaching the $0.0350 support. On the upside, the previous support near $0.0400 may perhaps act as a resistance area.

Looking at the total cryptocurrency market cap 4-hours chart, there are many bearish signs visible below the $210.0B and $220.0B resistance levels. Therefore, there are high chances of a downside break below the $200.0B and $195.0B support levels. The next key support on the downside is near the $180.0B level. Overall, there are many signs, suggesting more downsides in bitcoin, ETH, XRP, TRX, ADA, bitcoin cash, litecoin, EOS, stellar, IOTA, ICX, WAN, and other altcoins in the near term.
The post Bitcoin And Crypto Market Extending Decline: BCH, EOS, TRX, ADA Analysis appeared first on NewsBTC.
Source: New feedNewsBTC.com

Block.one invests $10 million to establish headquarters in Arlington County soon after first-ever consensus hard fork

Virginia Governor Ralph Northam has announced that Block.one, a high-performance blockchain software provider, will invest $10 million in order to establish its headquarters in Arlington County. According to the announcement, the project will create 170 new jobs over a period of three years. A statement from the Governor said, “Block.one maintains a strong presence at […]
The post Block.one invests $10 million to establish headquarters in Arlington County soon after first-ever consensus hard fork appeared first on AMBCrypto.
Source: AMB Crypto