VeriBlock ‘Spams’ Bitcoin Network to Secure Blockchains of Other Cryptos

CoinSpeaker

VeriBlock ‘Spams’ Bitcoin Network to Secure Blockchains of Other Cryptos

On October 22, 2013, Bitcoin Core developers merged pull request to accept OP_RETURN as a valid transaction type, providing users with 80 bytes of space for embedding arbitrary data. OP_RETURN enables users to mark transaction outputs as unspendable.

VeriBlock ‘Spams’ Bitcoin Network to Secure Blockchains of Other Cryptos

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Source: CoinSpeaker

Ethereum Classic [ETC]: A deep-dive into 51% attack leading to the loss of $1.1 million worth ETCs

Opinion
Cryptocurrencies – money of the future. Bitcoin and cryptocurrencies promised a lot of things and along with those promises came the problems that we would never have faced if we stuck to the fiat system. But then again the world isn’t all black and white.
As promising and strong cryptocurrencies sound, they aren’t almighty and invulnerable, they do have drawbacks like the one that has taken Ethereum Classic [ETC] down temporarily.
Satoshi Nakamoto envisioned how Bitcoin network, which makes use of Proof-of-Work [PoW], could be attacked in his whitepaper. Nakamoto stated:
“If a greedy attacker is able to assemble more CPU power than all the honest nodes, he would have to choose between using it to defraud people by stealing back his payments, or using it to generate new coins.”
Assembling of CPU power came to be known as a “51% attack”, i.e., if a person/organization amassed more than 50% of the total hash power that is being used to mine a particular coin, then that coin could be controlled by the said person.
The person could go back and change the history in the blocks, rewrite transactions, generate more coins, add more blocks to it. This attack is the major drawback of PoW and sometimes referred to as “security risk” or “attack vector”.
Ethereum Classic [ETC], a fork of Ethereum which took place in July 2016, has been the victim of the aforementioned and its blockchain has been “reorged”. Reorged is a short-form of “chain reorganization” in which a person with enough hash power takes control of the blockchain and goes back to the block of his liking and extends an alternative block history as per his liking.
The 51% attack was reported by Coinbase on January 7, 2019, but a few people on Twitter had already whiffed out the 51% attack rumors.
Pierre Rochard, a well-known Bitcoin enthusiast, asked ETC developer Donal McIntyre on Twitter:
“Was there a deep reorg on Ethereum Classic yesterday?… 75 blocks deep I hear, with a doublespend”
Donal McIntyre replied:
“Well ETC is still small and has many enemies so an attack with sufficient GPU power may be plausible, but I will check with others in the ecosystem.”
The devs realized that there was an attack and as per the blog by Coinbase, a total of 219,500 ETC worth a whopping $1.1 million was double spent.
Why ETC?
51% attacks are not very uncommon; they keep happening from time to time on smaller blockchains that are still nascent and are under development.
The reasons that could summarize why ETC faced this 51% attack could be:

ETC uses the same mining algorithm as Ethereum, and as compared to ETH, ETC has only a fraction of its mining power i.e., hash rate. So, a temporary shift in the hashing power from ETH to ETC could easily allow someone to launch a 51% attack.
With the developments happening in the cryptocurrency world and it reaching mainstream attention/adoption, mining has also become institutionalized and a majority of the hashing power for most top-10 coins is derived from mining pools. ETC, as per Crypto51.app, had a total of 112% of hash rate coming from one such pool, “Nicehash”.
The ETC network is still small.
All PoW based assets are susceptible to 51% attacks.

As per Crypto51.app, the total network hash rate for ETC was at a mere 8TH/s as compared to that of Bitcoin [BTC] 42,336 PH/s or Ethereum’s 171 TH/s. Moreover, the cost of launching a 51% attack for ETC would only cost ~$4,404 per hour.
Future of ETC
Charlie Lee suggested a possible workaround for this problem that ETC is facing in a tweet. He said:
“Be careful w/coins that are not dominant in their respective mining algorithm, especially ones that are NiceHash-able. ETC has less than 5% of the total Ethash hashrate and is 98% NiceHash-able. 1-hr attack costs $5k. Almost $500k has been double spent”
ETC dev, Donald McIntyre in his blog stated:
“I think that continuing to build the stack as planned (a secure PoW base layer, with layer 2 sidechains, plus developer tools, continuous efficiency gains and adding of new features in the long term) will get ETC closer to the long term vision of a blockchain perfectly suitable for secure decentralized computing.”
Furthermore, he added:
“With the above in mind I think the best path is to explore a mining algorithm change to put ETC in a unique, incompatible PoW niche. Even if that implies a tradeoff as miners will have less optionality to point their infrastructure to different chains depending on the profitability of the day.”
Conspiracies Everywhere:
A Twitter user @_itsanhonour tweeted suggesting that the ETC’s 51% attack was some sort of a conspiracy theory as OKEx exchange is the largest source of volume ETC.

Peter Todd, a well-known person in the crypto-community, tweeted:

To the above tweet, a user @Cryptojack2 suggested that Vitalik Buterin, the creator of Ethereum organized the attack. He commented:
“yep, makes perf sense- not because it is the true defin of SHITCOIN- no devs,hugely inflated MC,no real usage(besides being “immutable”-ROFL & working on the “one and only consensus-POW”).It is the evil lord @VitalikButerin , that organised the attack…”
Summing it all up
This is not the first time Ethereum Classic has been under the eye of media. Ethereum Classic was supposedly used by Barry Silbert as a classic “pump and dump” scheme back in 2016/2017. Moreover, Silbert allegedly used insider information to accumulate more ETC before it was listed on an exchange that he owned, Kraken.
So far, the reports by Coinbase claim that a total of $1.1 million worth of ETC was double spent and it was even confirmed by the devs.
As a layer of additional security, Ethereum Classic’s official Twitter page, tweeted:
“To all exchanges and mining pools please allow a significantly higher confirmation time on withdrawals and deposits (+400)
cc @OKEx @ExchangeXGroup @HuobiGroup @digifinex @binance @bitfinex”
Like, Coinbase, exchanges including Poloniex, OKEx, and many others, have decided to block the sell and withdrawal for Ethereum Classic until further notice.
The prices of ETC as a result of this attack has slipped by 7% and have halted there as of now since the exchanges have stopped transacting ETC.
Ethereum Classic forked from Ethereum as a result of the legendary DAO attack that caused a lot of users to lose their ETH tokens. ETC was developed as a result of a difference in opinion, and “immutability” became the main ethos for the Ethereum Classic. Since the attack was a deep chain reorganization the “immutability” claim now seems to have gone down the drain.
And as for the future of ETC, it is all up to the devs and how they change this vulnerability. Only time can tell how ETC will fare in the world of cryptocurrencies.
The post Ethereum Classic [ETC]: A deep-dive into 51% attack leading to the loss of $1.1 million worth ETCs appeared first on AMBCrypto.
Source: AMB Crypto

Coinbase Halts Ethereum Classic Transactions After the Network Comes Under Attack

CoinSpeaker

Coinbase Halts Ethereum Classic Transactions After the Network Comes Under Attack

Coinbase took to its Twitter to reveal that its internal developers detected a “deep chain reorganization” of the Ethereum Classic (ETC) blockchain. During that ‘reorgs’ nearly $500,000 worth of ethereum classic was spent twice

Coinbase Halts Ethereum Classic Transactions After the Network Comes Under Attack

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Source: CoinSpeaker

8 Days of Christmas: Coinbase Adds Crypto-to-Crypto Trading

CoinSpeaker

8 Days of Christmas: Coinbase Adds Crypto-to-Crypto Trading

San Francisco-based cryptocurrency exchange and wallet service Coinbase has launched its new “Convert” service as a part of their “12 Days of Coinbase” mission, imagined to help people and their clients all over the world.

8 Days of Christmas: Coinbase Adds Crypto-to-Crypto Trading

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Source: CoinSpeaker

Ethereum Classic team: Our goal is to revolutionize the ETC community and inject competition, vigor and democracy

Ethereum Classic [ETC], one of the leading projects in the cryptocurrency space, has been in the limelight because of the turmoil in the community. Now, the Ethereum Classic Labs has stepped into the spotlight to tell their part of the story.
Earlier this month, one of the development teams, Ethereum Classic Development Company, released a public statement that they will be shutting down their operations. This came across as a blow in the entire community, as majority of them believed that it was the only development team, however, the community has two other development teams: ETC Commonwealth and IOHK.
Additionally, the team has been working towards the development of the ecosystem since the DAO hack, which was the main cause for the chain split that resulted in the existence of Ethereum and Ethereum Classic.
The reason for shutting down the operation is stated to the inadequacy of funds by the founder and CTO of ETCDEV, Igor Artamonov. He has stated on Twitter:
“As is publicly known we have struggled with funding our operations in the last few weeks. This was partially due to the market crash, combined with a cash crunch in the company. We appealed to investors in the ecosystem as well as external to it. We also did o the community fund, but in none of those cases were we successful in securing short term financing”
This was followed up by Igor speaking about the entire situation on his blog post, in addition to the GitHub situation. Few days prior to the announcement of shutting down, the team announced that they lost control over their GitHub account, including Classic Geth, one of the main clients of Ethereum Classic.
Igor had stated that he had lost access to the funds which were procured for the development of the company. Following this, he sought assistance from Ethereum Classic Labs, the team that provides financial assistance for the advancement of the ecosystem, and DFG. Furthermore, he provided access to a representative of DFG, krykoder on their request, who then removed everyone’s admin access.

Now, the ETC Labs team has published a statement on the incident, remarking that the team lead by Igor consisted of an excellent developers who contributed to the growth of the ETC after the split. Nonetheless, this was followed by the team claiming that the overall “ecosystem lags way behind and the gap between ETC and its competitors has grown wider”.

They further said:
“During the past year, ETC Labs has fully supported ETCDEV, ECC and other parts of the ecosystem. However, we are sorry to have discovered some fatal flaws such as: some people only care about their own status and power in the community instead of the future of ETC, some of the most vocal people take no action, and different parties lack cooperation. All these have contributed to ETC’s lack of development.”
ETC Labs stated that prior to this, Ethereum Projects Github account had three admins apart from Igor, adding that Cody Burns was the “only active” one among the four of them. However, they claimed that Burns barely made contribution to the core code and also failed to provide constructive advice. The report also stated that Burns and Igor “actually formed a highly-centralized decision-making system” because of which there were several ideas that were “rejected and wasted”. They stated:

“We are aware that removing other owners would bring criticism and misunderstanding, but we’re determined and willing to shoulder that, because it’s truly a “now or never situation.” Also, we fear nothing because we are truly and fully committed to the future of ETC, and we have absolutely zero malicious intentions. Our goal is to revolutionize the ETC community and to inject competition, vigor and democracy into the ecosystem.”

Following which, they stated ETC Labs and Krykoder are not going to be the only admins of the Github, and that “multiple appropriate owners will be added to manage the resources in a democratic and decentralized manner”.
They said:

“We also noticed the revolution has begun to take effect. Some people are becoming busy, and we hope they are busy doing the right thing for ETC. Our congratulations to Mr. Cody for becoming the owner of the ‘new’ repo as he wished, and we hope the new repo does well, for the sake of ETC”

Nonetheless, this statement also drew the Igor’s attention, who said:

The post Ethereum Classic team: Our goal is to revolutionize the ETC community and inject competition, vigor and democracy appeared first on AMBCrypto.
Source: AMB Crypto

Tron [TRX]’s Justin Sun invites ETCDEV developers to join the “family”

Justin Sun, the Founder and CEO of Tron Foundation, has always been in the limelight because of the brawl with Vitalik Buterin, the co-founder of Ethereum. Additionally, Ethereum, the third biggest cryptocurrency and the leading smart contract platform, has always been the biggest competitor of Tron, with the network surpassing that of Ethereum’s on several terms.
Now, Sun is back in the spotlight because of his invitation to one of the Ethereum Classic’s development team. The development team happens to be Ethereum Classic Development Company aka ETCDEV, which recently announced that they would be shutting down their operations.
The team has been responsible for taking care of the main client of Ethereum Classic, Classic Geth, ever since the occurrence of the DAO hack that resulted in split chains. The team is also known for the development of Emerald, Sputnik VM and Orbita. The reason for the company wrapping up their operations is owed to be the bear market, which resulted in the team failing to raise the sufficient fund required for the development of one of the leading projects.
Justin Sun said on his official Twitter handle:
“You can join #TRON family! Actually one developer in @etcdev has contacted us. #TRX $TRX”
Chris Tannahill, a Twitterati said:
“Despite what people may say, I think you’re doing some great things in this space, Justin  Some projects have brilliant ideas that are not sustainable in the current bear market. It’s awesome that Tron is looking to support developers through these difficult times. Keep it up”
PabloTheViking, another Twitterati said:
“Very clever move, Justin! This might turn out to be the smartest move you have ever done to lay the foundation for future growth of the Tron platform. Developers and applications are key to win this battle!”
Recently, Sun stated that Tron would be building a fund in order to rescue Ethereum [ETH] and EOS developers from the “collapse” of their respective platforms. He stated that the fund will be of help to them only if the developers chose to migrate their dApps to Tron.
The post Tron [TRX]’s Justin Sun invites ETCDEV developers to join the “family” appeared first on AMBCrypto.
Source: AMB Crypto

Ethereum Classic ecosystem crippled as ETCDEV plan Emerald, SputnikVM and Orbita migration

Recently, Ethereum Classic, one of the leading projects in the community, stepped under the spotlight as one of the lead development team, Ethereum Classic Development Company announced that they would be shutting down their operations. This announcement created a buzz in the market as the development team pointed out the other teams for failing them.
According to the official website, Ethereum Classic has five teams:

ETCDEV
IOHK [Grothendieck]
ETC Cooperative
ETC Labs
ETC Commonwealth

Out of the five teams, ETCDEV, IOHK and ETC Commonwealth are the ones that focus on the development of the project and the rest provide financial support for the growth of Ethereum Classic.
ETCDEV is known was maintaining the key client of Ethereum Classic – Classic Geth, which has been under the development team since the DAO hack. The other projects the team works on include Emerald wallet, Sputnik Virtual Machine, and Orbita.
Now, the company will stop their operations on Ethereum Classic due to a financial crisis. The Founder of ETCDEV, Igor Artamonov stated that the company is facing a cash crunch and that they were unable to raise funds as a result of the bear market.
In his recent blog post, Artamonov stated that the access for the funds that were meant to be utilized for the development of ETCDEV was lost. This was followed by the Founder seeking financial assistance from DFG and ETC Labs.
Post this, the Founder claimed that he had provided admin access to krykoder, a representative of DFG, on their request, who then removed everyone else’s access along with copying all the projects. This led to the team effectively losing control to Classic Geth and ETC community organization.
He had stated:
“Removing an admin is not a simple operation. GitHub asks for a special confirmation and password, and it has to be done several times, and for each admin. This can’t be done by mistake as ETC Labs, together with ETC Coop, are trying to portray no”
AMBCrypto reached out to Anthony Lusardi, Director of ETC Cooperative regarding this situation and their involvement in it. We also asked Lusardi on what would happen to the projects after ETCDEV shuts down their operations.
“1. ETC Cooperative has no involvement in the internal operations of ETCDEV or ETC Labs. We’re all separate. 2. We’re waiting for clarity on who will maintain ETCDEV’s projects going forward but I don’t think this is a concern, there are many interested in making sure these projects stay a part of the ecosystem. 3. GitHub is aware of the issue with the GitHub organization and they’re investigating and fixing it”
We also reached out to Igor Artamonov and asked about the company’s current stance taking into consideration that they have been working for the ETC ecosystem for more than two years now. We also asked him about the future of the project. To which, he said:
“we did all the work for ETC for past years, all protocol stuff, wallets, libraries and the whole infrastructure [including gastracker.io for example] was developer by me or the team. Currently, ETCDEV stopping all activities related to ETC. No other team was working on core projects before that moment.”
The founder and developer further stated:
“I don’t know who will continue that work, and what long term plans and strategy they has. Speaking about other projects, such as Emerald, Sputnik and Orbita, we’re going to continue our work on this projects, but it’s not going to be targeting Ethereum Classic.”
When asked for further clarification on the future of the projects and Classic Geth, he said:
“I’m working on future strategy and how Emerald, SputnikVM and Orbita can be used outside of Ethereum Classic or be blockchain agnostic. There is no final decision yet, and it will be published in following weeks. Classic Geth is community project though only ETCDEV was working on it for past 2 years. ETCDEV is not going to continue that work, and is not going to maintain it.”
The post Ethereum Classic ecosystem crippled as ETCDEV plan Emerald, SputnikVM and Orbita migration appeared first on AMBCrypto.
Source: AMB Crypto

Ethereum Classic Development Team Freezes in the Crypto Winter

CoinSpeaker

Ethereum Classic Development Team Freezes in the Crypto Winter

Ethereum Classic Development Team (ETCDEV) becomes the next victim to freeze in the Crypto winter. The CTO confirmed that dwindling resources resulted in the shutdown.

Ethereum Classic Development Team Freezes in the Crypto Winter

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Source: CoinSpeaker

Ethereum Classic’s ETCDEV comes to an end after two and a half years of service

Ethereum Classic [ETC], one of the leading cryptocurrencies and smart contract platform, is back in the limelight. However, since the past few days, the news the coin is related to has only been unpleasant. Now, Ethereum Classic Development company has released a statement on their Twitter handle stating that they would be shutting down their current activities. Additionally, this news comes to light a few days after they posted a statement related Classic Geth’s security.
Igor Artamonov, Founder and CTO of ETCDEV said on Twitter:
“It is with great regret that I communicate the shutdown of ETCDEV current activities related to Ethereum Classic, effective immediately. As is publicly known we have struggled with funding our operations in the last few weeks.”
Artamonov went on to say that the main reason they failed to raise funds was because of the market crash. He further stated that the company’s cash crush is also an added factor. The announcement also stated that they were unable to secure short-term funds despite appealing to investors inside and outside the ecosystem, along with doing a community fund.
ETCDEV was a development company built on the Ethereum Classic platform. The team was responsible for maintaining the main client of Ethereum Classic, Classic Geth. The other projects included Emerald, Emerald wallet, and SputnikVM.
The development team has been maintaining Classic Geth since the famous DAO fork occurred, resulting in ETC and ETH. However, Artamonov recently stated that they lost admin control of Ethereum Classic community organization along with Classic Geth.
On the same day, the Founder stated:
“We wish to announce that ETCDEV is currently experiencing an attempt to takeover all of its properties, including code, and an attempt to poach our developers, which we are trying to prevent.”
This was followed by Artamonov speaking about the whole situation on his Medium blog titled, ‘On the Attempt to Take Over Ethereum Classic [ETC]’. In the post, Artamonov claimed that he lost access for funds which were meant to be utilized for the development of ETCDEV, succeeding which he approached ETC Labs and DFG for financial assistance.
Furthermore, the Founder claimed that he provided access to krykoder, a representative of DFG, because of their request. However, the representative removed access of all the other admins and has been accused of copying all the ETCDEV projects into his own repository.
He said:
“Removing an admin is not a simple operation. GitHub asks for a special confirmation and password, and it has to be done several times, and for each admin. This can’t be done by mistake as ETC Labs, together with ETC Coop, are trying to portray no”
Additionally, according to Artamonov, ETC was under a social attack and that it is orchestrated by ETC Labs and DFG.
DerSchorsch, a Redditor said:
“ETC never had any genuine usage to begin with apart from serving as a pump and dump by Barry Silbert / Digital Currencies Group.”
Wantedtogetinvolved, another Redditor said:
“Completely shilled by Charles Hoskinson who made of Eth classic was doing amazing things when if fact they were struggling Makes me wonder if Cardano is even a legit project or just a phantom webpage with a good visual update page”
The post Ethereum Classic’s ETCDEV comes to an end after two and a half years of service appeared first on AMBCrypto.
Source: AMB Crypto

Ethereum Classic Price Analysis: ETC/USD Could Retest $4.00 Support

Key Highlights

Ethereum classic price started a fresh decline after trading close to $5.30 against the US dollar.
There was a break below a major bullish trend line with support at $4.60 on the hourly chart of the ETC/USD pair (Data feed via Kraken).
The pair is now at a risk of more losses below the $4.40 and $4.20 levels.

Ethereum classic price declined sharply against the US Dollar and Bitcoin. ETC/USD is back in a bearish zone and it could revisit the $4.00 support level.
Ethereum Classic Price Analysis
This past week, there was a decent recovery above $4.80 in ETC price against the US dollar. The ETC/USD pair traded above the $5.00 and $5.20 resistance levels. A high was formed at $5.27 and later the price started a fresh decline. It traded lower sharply and broke the $5.00 support and the 100 hourly simple moving average. There was even a break below the 76.4% Fib retracement level of the last wave from the $4.40 low to $5.27 high.
Moreover, there was a break below a major bullish trend line with support at $4.60 on the hourly chart of the ETC/USD pair. The pair is currently trading near the $4.40 low, which is acting as a support. If the price continues to move down, it could test the $4.20 support. It coincides with the 1.236 Fib extension level of the last wave from the $4.40 low to $5.27 high. However, the key support is near the $4.00-4.05 zone where buyers are likely to emerge. If the price corrects higher, the previous supports at $4.50 and $4.75 are likely to prevent gains.

The chart suggests that ETC price is back in a bearish zone with a close below $5.00 and 100 SMA. The next stop for sellers could be either $4.20 or $4.05.
Hourly MACD – The MACD for ETC/USD is slowly moving back in the bullish zone.
Hourly RSI – The RSI for ETC/USD is recovering towards the 45 level.
Major Support Level – $4.20
Major Resistance Level – $4.75
The post Ethereum Classic Price Analysis: ETC/USD Could Retest $4.00 Support appeared first on NewsBTC.
Source: New feedNewsBTC.com

Ethereum Classic [ETC] Geth security alert: “unnecessary drama” resolved

ETCDEV’s Founder and Technical Lead, Igor Artamonov recently announced an Ethereum Classic security alert. According to him, an unknown person took admin control of Ethereum Classic community organization with Classic Geth and removed all the other admins. The team had recommended all the users not to download Classic Geth until the issue was resolved.
However, within a couple of hours, ETCDEV’s program manager Darcy Reno mentioned that the whole issue was just mistake by Igor. His tweet read:
“There seems to be a mistake here – Igor had added an owner at their request which is correct and fine. That new owner seems to have reverted existing owners to members by some accident or misunderstanding. That user has said that they will revert the change today.”
Classic Geth is an Ethereum Classic repository on Github. The latest version of the project was released 2 weeks back. Geth is the main Ethereum Classic client,  a multipurpose command line tool that runs a full Ethereum Classic node. This is a Go language implementation of Ethereum Classic, supporting the original blockchain and its philosophy of immutability, censorship-resistance, and resilient distributed applications.
During the short investigation period by ETCDEV team, its Director, Anthony Lusardi tweeted:
“We are in contact with GitHub and working to regain control. The user who took ownership has not made any changes to any repositories as of the time of this tweet. However, as the note indicates, please proceed with caution.”
He also mentioned that no changes have been made to any repositories currently. Another ETC developer mentioned on Twitter that “the repositories require approved reviewers prior to PR merge and all build pipelines have been paused until the situation has been resolved. All clients are currently uneffected”.
Later, Anthony Lusardi tweeted:
“All is fine now. Issue and an incredible amount of unnecessary drama is resolved. Hooray!”
The post Ethereum Classic [ETC] Geth security alert: “unnecessary drama” resolved appeared first on AMBCrypto.
Source: AMB Crypto

Ethereum Classic Price Analysis: ETC/USD Could Gain Pace Above $5.00

Key Highlights

Ethereum classic price recovered recently and tested the $5.00 resistance against the US dollar.
There was a break above a crucial bearish trend line with resistance at $4.45 on the hourly chart of the ETC/USD pair (Data feed via Kraken).
The pair is currently correcting lower, but it could bounce back and clear the $5.00 barrier.

Ethereum classic price is slowly moving higher against the US Dollar and Bitcoin. ETC/USD must settle above $5.00 to stage a decent recovery in the coming days.
Ethereum Classic Price Analysis
After a massive drop, ETC price found support near the $4.00 area against the US dollar. The ETC/USD pair formed a solid base above the $4.00 level and later started a recovery. It moved higher and broke the $4.40 and $4.60 resistance levels. During the rise, there was a close above the $4.60 resistance and the 100 hourly simple moving average.
Moreover, there was a break above a crucial bearish trend line with resistance at $4.45 on the hourly chart of the ETC/USD pair. The pair tested the $5.00 resistance and formed a high at $5.07. Later, it started a downside correction and traded below $5.00 and $4.90. The price even broke the 23.6% Fib retracement level of the recent wave from the $4.09 low to $5.07 high. On the downside, there are a few key supports near the $4.60 and $4.50 levels. The 50% Fib retracement level of the recent wave from the $4.09 low to $5.07 high is also near $4.58. Finally, the 100 hourly SMA is positioned near the $4.50 level. Therefore, dips from the current levels will most likely find support near $4.60, $4.60 or $4.40.

The chart suggests that ETC price seems to be following a bullish path above $4.50. A successful daily close above $5.00 could open the doors for more gains.
Hourly MACD – The MACD for ETC/USD is currently in the bearish zone.
Hourly RSI – The RSI for ETC/USD is still above the 50 level.
Major Support Level – $4.50
Major Resistance Level – $5.00
The post Ethereum Classic Price Analysis: ETC/USD Could Gain Pace Above $5.00 appeared first on NewsBTC.
Source: New feedNewsBTC.com

Ethereum Classic Price Analysis: ETC/USD At Risk Of Break Below $4.00

Key Highlights

Ethereum classic price is under pressure below the $5.00 resistance against the US dollar.
There is a major bearish trend line formed with resistance at $4.50 on the hourly chart of the ETC/USD pair (Data feed via Kraken).
The pair is likely to struggle above $4.50 and it could even break the $4.10 low in the near term.

Ethereum classic price declined further against the US Dollar and Bitcoin. ETC/USD could accelerate losses below $4.10 and $4.00 if it fails to climb above $5.00.
Ethereum Classic Price Analysis
During the past few days, there was a sharp decline in ETC price below the $6.00 support against the US dollar. The ETC/USD pair even broke the $5.00 support area and settled well below the 100 hourly simple moving average. The recent rise in selling pressure on Ethereum, ripple and bitcoin sparked more losses in ETC below $4.50. The price even broke the $4.20 support level and formed a new yearly low at $4.08.
At the moment, the price is consolidating losses above the $4.10 level. An initial resistance is the 23.6% Fib retracement level of the recent decline from the $4.91 high to $4.08 low. More importantly, there is a major bearish trend line formed with resistance at $4.50 on the hourly chart of the ETC/USD pair. The trend line is close to the 50% Fib retracement level of the recent decline from the $4.91 high to $4.08 low. Therefore, if the price corrects higher, it may face a strong resistance near the $4.40 and $4.50 levels.

The chart suggests that ETC price is struggling to stay above the $4.10 and $4.08 levels. If there is a downside break below $4.08, the price is likely to accelerate losses below the $4.00 level in the near term.
Hourly MACD – The MACD for ETC/USD is slightly placed in the bullish zone.
Hourly RSI – The RSI for ETC/USD is flat below the 50 level.
Major Support Level – $4.00
Major Resistance Level – $4.50
The post Ethereum Classic Price Analysis: ETC/USD At Risk Of Break Below $4.00 appeared first on NewsBTC.
Source: New feedNewsBTC.com

OKCoin Launches in Latin America with Fiat-to-Crypto Trading for the Argentine Peso

CoinSpeaker

OKCoin Launches in Latin America with Fiat-to-Crypto Trading for the Argentine Peso

Licensed exchange now offers Argentine peso funding to trade with several major cryptocurrencies, other Latin American fiat currencies coming soon.

OKCoin Launches in Latin America with Fiat-to-Crypto Trading for the Argentine Peso

Continue reading at Coinspeaker
Source: CoinSpeaker

Ethereum Classic Price Analysis: ETC/USD Could Tumble Below $9.00

Key Highlights

Ethereum classic price is currently under pressure below the $9.25 support against the US dollar.
There is a major bearish trend line in place with resistance at $9.25 on the hourly chart of the ETC/USD pair (Data feed via Kraken).
The pair remains at a risk of more losses below $9.00 if it fails to move above $9.25.

Ethereum classic price is currently in a bearish zone against the US Dollar and Bitcoin. ETC/USD may perhaps continue to decline towards $8.80 or $8.60.
Ethereum Classic Price Analysis
In the last analysis, we discussed the key support at $9.20-$9.25 in ETC price against the US dollar. The ETC/USD pair failed to stay above the $9.25 support and declined further. It traded below the $9.00 support and settled below the 100 hourly simple moving average. The price as low as $8.90 and later corrected higher. It moved above the $9.10 level and the 23.6% Fib retracement level of the recent decline from the $9.57 high to $8.90 low.
However, the upside move was capped by the $9.25 level, which was a support earlier. Moreover, the 50% Fib retracement level of the recent decline from the $9.57 high to $8.90 low acted as a solid barrier. Besides, there is a major bearish trend line in place with resistance at $9.25 on the hourly chart of the ETC/USD pair. The pair is currently under pressure and it is trading around the $9.00 support. If sellers remain in action, the price may perhaps extend losses below the $8.90 low. The next main support is at $8.80 followed by $8.60.

The chart suggests that ETC price is trading in a bearish zone below $9.25. Only a close above $9.20 and $9.25 could push the price back in a positive zone in the near term.
Hourly MACD – The MACD for ETC/USD is placed in the bearish zone.
Hourly RSI – The RSI for ETC/USD is currently well below the 40 level.
Major Support Level – $9.00
Major Resistance Level – $9.25
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