Ripple Becomes First Cryptocurrency After Bitcoin to Surpass $100 Billion

Advertisement

Get Trading Recommendations and Read Analysis on Hacked.com for just $39 per month.

Ripple has achieved a historic milestone on January 3, becoming the first cryptocurrency after bitcoin to be valued at $100 billion. At press time, the total valuation of Ripple is $121 billion.

Up by $19 Billion in 24 Hours

Over the past 24 hours, the price of XRP, Ripple’s native token, has increased by more than 24 percent, to over $3. The market valuation of Ripple increased from below $95 billion to $116 billion, further distancing itself from the third most valuable cryptocurrency in the global market, Ethereum.

As usual, the daily trading volume of XRP is heavily concentrated in the South Korean market. Korbit and Bithumb are processing 40 percent of global Ripple trades, accounting for more than $2.2 billion of Ripple’s daily trading volume.

On Bithumb, the second largest cryptocurrency trading platform in the world based in Seoul, South Korea, Ripple remains as the most traded cryptocurrency, recording a daily trading volume that is three times larger than that of bitcoin.

Despite being the largest and most liquid Ripple exchange market, XRP is being traded with a high premium within South Korean cryptocurrency market. On Bithumb and Korbit, Ripple is being traded at $3.5, with a with a 12 percent premium.

Ripple has also started to gain some mainstream media coverage, with news publications demonstrating their readers how to purchase, store, and send Ripple with ease. Such increase in coverage of Ripple by the media and fear of missing out (FOMO)-driven South Market’s push has allowed Ripple to achieve new all-time highs and sustain strong momentum.

Brad Garlinghouse, the CEO at Ripple, which is responsible for the development of the Ripple blockchain network, stated that the “real use case” sets Ripple apart from other digital assets.

“Caught up with Joel Comm and Travis Wright on Bad Crypto about Ripple and how its real use case sets it apart from other digital assets, why Ripple is the most efficient solution for cross border payments,” said Garlinghouse.

But as with any other cryptocurrency, Ripple was met with some criticism. Earlier today, on January 3, P4man stated that the vision of Ripple to evolve into Swift 2.0 is not realistic, because in order for the Ripple network to become a Swift-like network, banks will need to gain control over it.

“As for the moonshot of replacing Swift; first of all, I highly doubt a global consensus protocol is the right approach and could even scale to that level. But also, banks currently control Swift. How likely is it they would relinquish control to a small startup and allow themselves to become beholden to its private currency, that they have no need for?,” P4man wrote in a blog post published on Coindesk.

Swift 2.0

It is not possible to place a market valuation on the Swift network, given that banks have ownership of it and it is the backbone of the entire global banking system. But, like the New York Stock Exchange, if it was valued as a company or a project, its market valuation would be in the trillions.

Essentially, the current market valuation of Ripple comes from the total addressable market, given the premise that Ripple will someday be able to overtake Swift and evolve into a multi-trillion dollar market.

Featured image from Shutterstock.

Follow us on Telegram.

Advertisement

Total Crypto Market Cap Hits New All-Time High Over $700 Bln

The total market capitalization of all cryptocurrencies reached a new all-time high today over $700 bln. The overall market cap was around $713 bln at press time. The previous record high for overall market cap was $654 bln on Dec. 21, 2017.

B

Bitcoin beware

The major growth in overall market cap has largely been spurred on by recent rises in altcoins. The demand for Bitcoin (BTC) has been waning recently, moving prices lower in the weeks leading up to Christmas.

Bitcoin dropped as low as $11,833 on December 22. The leading cryptocurrency rallied back up just a day later, but was followed by a week of volatility.

Yesterday, however, the coin got a boost after news that Peter Thiel’s San Francisco-based venture capital firm had made substantial investments in the leading cryptocurrency, propelling prices back up over the $15,000 mark.

Overall dominance of Bitcoin among all cryptocurrencies has decreased to all time lows, reaching 34.97 percent on Tuesday.

b

This dominance shift has followed massive price increases by altcoins such as Ripple, Ether, and Stellar, as well as lesser-known Tron, all of which have posted more than 20 percent gains over the past week. 

Ripple in particular has seen a huge market cap growth, with the cryptocurrency moving into second position behind the dominant Bitcoin. The increase in value was largely the result of increased demand on the South Korean market.

Ethereum Foundation to Offer Millions in Grants for Scalability Solutions

Advertisement

Get Trading Recommendations and Read Analysis on Hacked.com for just $39 per month.

The Ethereum Foundation will offer grants to qualified teams interested in developing blockchain scalability solutions, Vitalik Buterin, co-founder of Ethereum, announced in a recent blog post. This will become a specialized program alongside a more general grant program the Ethereum Foundation will soon release. Subsidy amounts of $50,000 to $1 million will be available, with possibly more for successful projects.

Buterin noted two main paths to improving blockchain scalability: the sharding method and the “layer 2” method.

The sharding method creates better-designed base layer protocols that sustain the decentralization and security properties of blockchain, but only requires a small portion of nodes to process each transaction, permitting more simultaneous transactions.

The “layer 2” method sends most transactions off chain to only interact with the underlying blockchain to enter and exit from the layer 2 system. Examples of layer 2 systems include plasma, state channels and Raiden.

Combining Both Methods

Buterin sees the two methods as complementary. He supports a multi-pronged strategy for Ethereum scalability that engages both methods.

As Ethereum’s blockchain approaches 1 million daily transactions, it nears its full transaction capacity, giving greater urgency for a scaling solution.

In addition to the internal tasks involved in addressing scalability, Ethereum is launching two experimental study schemes to empower more independent teams to cooperate with the Ethereum team’s base layer scalability work and create independent layer 2 projects.

Independent teams of companies and developers are encouraged to apply for the grants.

Sharding Work Accelerates

Sharding development has accelerated over the last few months, Buterin observed. One prototype is nearly finalized, first as a sidechain anchored to the Ethereum base chain via a validator manager contract, followed by tighter integration with the Ethereum base chain. A reference deployment is becoming built-in python atop Py-EVM, with a testnet python in the works.

Buterin wants the Ethereum sharding testnet and eventually, the sharding mainnet to be multi-client from the beginning, with the Ethereum Foundation not supporting any single production deployment.

The Ethereum funded team will continue building a deployment in python and other languages possibly, but only as a reference and proof of concept. The team will focus on research, but does not wish to “win” the competition for which client will achieve the most users when the network launches.

The Ethereum Foundation will make subsidies available to independent groups wishing to deploy and participate in the sharding testnets and mainnet.

Anyone who participates will have access to a special opportunity to be part of Ethereum 2.0 development, Buterin noted.

Also read: Vitalik Buterin Is Against Many Open-Source Ethereum Scaling Projects Conducting ICOs

Targeting Layer 2 Projects

Funding targets include high quality deployments of known layer 2 scaling strategies and researching new ones.

The grants will be decided by the Ethereum core leadership.

The payments are higher than those of previous grant programs since there is a higher expectation of quality and focus, Buterin noted. It is not a general purpose grant program.

Buterin asks applicants to email [email protected] with the official name of their product, applicant and core developers, along with information about the team’s previous blockchain activity, the proposal and the estimated timeline for development and completion.

Featured image from Flickr/Duncan Rawlinson.

Follow us on Telegram.

Advertisement

Blockchain Redefines Emerging Markets: Capital, Assets and Securities

Less than 0.001 percent of global venture technology funding went to African startups in 2016. It is no secret that entrepreneurs in emerging markets have a harder time coming by capital funding than do their counterparts in developed markets. Among the many reasons for this are inefficient capital market systems that create obstacles for entrepreneurs in emerging markets, who face barriers to cautious investors.

The ‘leapfrogging’ phenomenon

Thankfully, tokenized equity and initial coin offering (ICOs) strategies can redefine capital markets and how startups issue securities and create corporate structures in emerging markets. Entrepreneurs and governments can leapfrog inflexible capital market systems created by developed market economies and instead create entirely new tokenized, flexible and accessible capital markets.

From virtually no access to a flexible capital markets system, entrepreneurs in emerging markets can benefit from a new generation of democratized and tokenized investments in private companies, and this could be made possible by the implementation of ICO strategies.

Tokenized capital markets in emerging markets can accelerate a leapfrog effect for growing startup ecosystems by placing young entrepreneurs and their businesses at the center of their countries’ growth. He notes that despite the potential, ICOs still have their training wheels on and need to find a meeting ground between existing conventional equity/debt systems and new and innovative tokenized ones.

There are two major ways that ICOs can transform capital markets and leapfrog economic growth in emerging markets.

Digital incorporations

Digital Blockchain-enabled capital markets will bring a wave of necessary innovation around private company incorporation and management. It is expensive, slow and inefficient to incorporate and manage a corporate structure in most emerging markets. In Nigeria, it can take $19,400 and two months to incorporate a private company. Whereas in Canada, it costs CAD$200 and takes 24 hours. After incorporation, the company management, fees and reporting requirements are all paper-based and can balloon administrative costs, time and filing requirements.

By creating digital corporate incorporation and management software that rely on Blockchain technology and smart contracts one can securely create, manage and track a startup activity. Digital corporate structures are a natural precursor to digitized tokenized securities and could significantly lower the barrier to entry for entrepreneurs in emerging markets. This could save resources and securely store intellectual property in corporate structures. Digital incorporations could transform the ease of doing business in emerging markets. As a real-life example, the Republic of Georgia recently made top 10 in the ease of doing business ranking thanks to its recent innovations, including a more efficient land titles system.

Imagine if Nigeria created a similar corporate registry system, where companies could be incorporated in a few minutes, at the click of a button and for little cost? This is the leapfrog effect: a sudden opportunity to lower barriers to entry into the economic system.

Tokenized securities

According to Savills Global Research Report “Trends in Global Real Estate Market in 2016,” the total market cap of global real estate is approximately worth $217 tln. This roughly equals 2.7 times of global GDP, 36 times of global gold mining worth (six tln) and accounts for 60 percent of global main assets, hence rendering real estate the top saving and investment choice for countries, corporations and individuals.

Smart contract and distributed accounting technology enable the connection of assets and financial institutions effectively. This technology allows a system where large assets can be split and distributed to multiple financial institutions through the smart contract, enabling users, through these financial institutions to invest in smaller fractions of real estate. This technology ensures the non-tampering of processes once they are initiated.

A more versatile system

Traditional transactions are a series of corporate steps, well-drafted contract templates and tons of paper. As such, they are rigid and create illiquid capital structures for investors and entrepreneurs. Tokenized securities represent an evolution to a flexible securities system, where share issuances can happen with the click of a button.

Blockchain and tokens know no borders, and tokenized securities could form the backbone of a decentralized global stock market. This is an especially added benefit to emerging market entrepreneurs, where local angel and venture capital groups are more scarce. Tokens empower entrepreneurs with access to backers from around the world, democratizing access to finance for their products.

True financial inclusion

Financial inclusion is about more than bank accounts and stores of value. Capital markets and the ability to easily incorporate and manage a company can ease barriers to entry for entrepreneurs and make it easier for them to build their businesses. Blockchain technology and tools like smart contracts, decentralized oracles and tokens create the possibility to create a new kind of capital markets system throughout emerging market countries.

Zclassic Spikes 100x in December with ‘Bitcoin Private’ Fork Approaching

Advertisement

Get Trading Recommendations and Read Analysis on Hacked.com for just $39 per month.

The price of Zclassic is moving quite quickly, as it intends to host an upcoming fork of Bitcoin that is privacy-centric.

On December 8th, Zclassic developer and founder Rhett Creighton tweeted that he was going to be teaming up with another Zclassic founder in order to plan more active development for the project. Following that tweet, Creighton posted an entire manifesto one week later on the Zclassic Subreddit, detailing his plan for a new Bitcoin fork called “Bitcoin Private.”

The fork would create a derivative of Bitcoin that utilizes the same privacy protocols as Zclassic, which would enable users to send shielded transactions that hide transacting individuals and values.

Zclassic – Zcash Minus the Founder’s Share

Zclassic originally forked from Zcash to eliminate the 20% founders reward that Zcash put in place for the first four years. Although Zcash is limited to 21 million coins, a percentage is allocated to founders, investors, employees, and advisors to the company. The founders’ reward allocation will eventually be dropped in 2020 due to it being limited to the first set block reward, however, this still accounts for 10% of the entire supply.

This move was similar to the Ethereum Classic and Bitcoin Cash splits, in which the original codebase was forked due to an ideological difference. It contains the same nuts and bolts as the original blockchain, with a few tweaked parameters.

Price Gains

Since news of the fork grew in mid-December, Zclassic has seen significant price movement from a recent low in December of $1.64, to an all-time high of over $123.00 within a span of just over two weeks.

Many are attributing the price action to individuals who wish to capitalize on the derivative produced from the fork without having to pay the exorbitant price for Bitcoin. Investors may see Zclassic as an easier way of obtaining more of the forked cryptocurrency at a cheaper rate, considering that Zclassic is currently trading at a fraction of the price of Bitcoin.

Fork-Support

The popularity of recent Bitcoin forks have had both exchanges and wallets in a frenzy due to user requests for support. After Bitcoin Cash forked in August, and Bitcoin Gold forked in October, derivative attempts have been commonplace with December hosting at least five of them.

Some have even likened the strategy to an initial coin offering by calling the process an “initial fork offering” due to the increase in frequency.

Currently, the only known way to receive this new form of Bitcoin derivative is by storing Zclassic in the project’s official wallet.

No exchange has signaled support for the fork at the current moment, but this might change as the date of the actual split approaches. Many exchanges recently have been ‘fork-friendly,’ with Binance and Kucoin supporting multiple forms of the recent Bitcoin derivatives. Although Zclassic isn’t currently supported on these mentioned exchanges, Bitcoin holder demands might lead to full-fledged support if the project is deemed legitimate enough by internal standards.

The fork is expected to occur towards the end of January, and Zclassic and Bitcoin holders will be granted Bitcoin Private on a one to one basis. The supply is expected to be 18.5 million coins (capped at 21 million), resulting from the combined supply of Bitcoin and Zclassic.

 Disclaimer: The author of this article currently holds Zclassic.

Featured image from Shutterstock.

Follow us on Telegram.

Advertisement

Forks in the Road: 2017 Bitcoin Forks

2017 has come and gone, shaking up the cryptocurrency world with a swathe of newcomers interspersed with stellar highs and some sobering price corrections.

Bitcoin ended the year having grown over 1,000 percent in value over 12 months. However, that didn’t stop the community forking away from the preeminent currency.

These forks had varying degrees of success, as they looked to solve some of the major shortcomings of the original Bitcoin protocol.

This mainly comes down to the size limit of Bitcoin’s blocks. As it stands, the size of each block on the Bitcoin Blockchain is 1 mb, which limits the amount of transactions processed each second.

Over time, that limit has caused transaction speeds to decline, while payment fees increased as users were forced to pay more to miners to prioritise transactions.

Segregated Witness

The cryptocurrency community as a whole grew increasingly frustrated with the issues plaguing the Bitcoin protocol and different solutions have been proposed over the past two years.

Segregated Witness grabbed headlines in 2017, proposing two-fold changes to the Bitcoin network. The soft-fork, which was activated in August 2017, cuts a Bitcoin transaction data in two, moving the signature or ‘witness’ data to the end of the transaction, effectively reducing the size a transaction takes on a block which speeds up the network.

The second proposed change, which was ditched at the eleventh hour, is known as SegWit2x. This is a hard-fork, which would see block sizes increased from 1 mb to 2 mb to allow a greater number of transactions to be stored on the Blockchain.

Many of the original signatories of the New York Agreement, which comprised of the world’s largest exchanges, miners and wallets, weren’t comfortable with the hard fork coming so soon after SegWit’s activation. That led to the eventual postponement of SegWit2x.

Bitcoin Cash

The decision to drop SegWit2x inevitably caused a rift between two parties. The ‘big blockers’ who were adamant that an increase in block size would further solve scalability, and ‘Core’ who strongly opposed the hard fork solution.

This led to the creation of Bitcoin Cash, which forked away from the original Bitcoin Blockchain on Aug. 1, 2017.

Bitcoin Cash has been the subject of much debate, as the literal fork has been mirrored by unending debates by parties for and against.

The likes of early Bitcoin investor Roger Ver maintains that Bitcoin Cash is the ‘real Bitcoin.’ saying it stays true to Satoshi Nakamoto’s original whitepaper.

Nevertheless, Bitcoin Cash is nearing six months of existence and fears of a pump and dump situation have subsided.

There are clear differences between the two cryptocurrencies, nevertheless it’s support on exchanges like Coinbase prove that the cryptocurrency is growing in popularity – even amid controversy of it’s launch on GDAX in December 2017.

It seems increasingly clear that Bitcoin Cash is here to stay and it’s survival could well end further debate of a proper SegWit2x revival on the Bitcoin Blockchain.

The other forks

Bitcoin Gold champions the cause of the everyday mining enthusiast, who dreams of making a steady income mining cryptocurrency with high powered graphics cards (GPU). As their website states, Bitcoin Gold aims to making ‘Bitcoin mining decentralised again.’

By simply diverging from Bitcoin’s proof-of-work algorithm SHA256 to equihash, individual miners using GPUs can mine Bitcoin Gold easily, with mid-range GPUs. The fork took place in October 2017.

Bitcoin Diamond is another hard fork from the original Bitcoin Blockchain which took place in November 2017. Created by mining pools Team EVEY and Team 007, BCD will have a total of 210 mln tokens, 10 times as many as Bitcoin and Bitcoin Cash.

Bitcoin Diamond mining uses the X13 hashing algorithm, which favors mining using GPUs much like Bitcoin Gold, opposing ASIC miners needed to mine Bitcoin, which are expensive.

Trash?

Almost tongue in cheek, Chinese Blockchain investor Chandler Guo announced the launch of Bitcoin God in December. Claiming charitable intentions, holders of Bitcoin would receive their holding of 17 mln tokes, while the remaining four mln tokes of the 21 mln cap would be donated to charity, according the the website. It was ironically due to fork on Dec. 25, 2017 – Christmas Day. We’re taking this one with a pinch of salt.

Another intriguing, albeit sketchy fork is the so-called revival of SegWit2x. A completely new set of developers have reworked the original SegWit2x code, and the hard fork was announced on Dec. 28.

The group have admitted that they have no affiliation to the original developers, and the new fork has made some outlandish promises to supporters of the fork. As this writer reported, the project seems far-fetched and it’s progress will be monitored with skeptical eyes over the next couple of weeks.

The list goes on

While we’ve narrowed our focus to the four major Bitcoin forks of 2017, namely Bitcoin Cash, Bitcoin Gold, Bitcoin Diamond and Bitcoin God, there are many more hard forks to mention.

The list is extensive, including Bitcoin Clashic, Super Bitcoin, Bitcoin Hot, Bitcoin X, Oil Bitcoin, Bitcoin World, Lightning Bitcoin. There are more, with at least 14 forks in December 2017.    

It’s hard to believe that many of these forks will survive or provide any real value to the wider cryptocurrency community. However, the discourse and ideas generated by developers looking to improve cryptocurrency protocols will inevitably benefit the community and drive the evolution of Blockchain technology into the future.

The Next Wave of Crypto Investments Are Coming – Legal and Compliant ICOs

Advertisement

Get Trading Recommendations and Read Analysis on Hacked.com for just $39 per month.

This is a submitted sponsored story. CCN urges readers to conduct their own research with due diligence into the company, product or service mentioned in the content below.

It’s easy for traditional financiers to write off cryptocurrencies and initial coin offerings (ICOs); the SEC has repeatedly said ICOs are securities, can be regulated, and transactions that have already transpired may be riddled with legal holes. What many don’t know, though, is that the there is a new wave of ICOs coming in a few months that are fully SEC compliant, for well established, profitable companies, and have the potential to make traditional investors a ton of money

These new ICOs are called Reverse ICOS. Whereas regular ICOs are for unproven startups and avoid being classified as a security, Reverse ICOs are quite the opposite. They are intended for existing, successful midsize to even large companies that have been in business five years or more, and make $20M in revenue. per year, and are assumed to be securities from the start.  They follow same prescribed pathways full public offerings, Reg A+, Reg D, and Reg CF, and requiring all the same audits, disclosures, prospectus, filings, etc. In other words, Reverse ICOs are almost identical to traditional IPOs.

So why do a Reverse ICO instead of regular IPO or Reg D? The answer is simple: there is a HUGE new pool of cryptocurrency investors who have tens of billions of dollars fresh winnings in their pockets. They love and respect American technology firms, but distrust traditional institutions. Reverse ICOs are a way of bridging that gap to provide these new wealthy investors a friendly way to invest in legal and high-powered deals.

More importantly, token-based equity combined with token economic modifications to company business models will offer significantly better valuation for the mid-size technology ventures not yet large enough for a traditional IPO, or larger companies that have not gone public due to the rising challenges doing so. Through using a Reverse ICO, an increasing number of companies can exit and create value.  

Traditional IPOs are down a whopping 50 percent over the last two decades – leaving a large gap in the economy. If Reverse ICOs take even a small bite out of this lack of IPOs, it could have a huge impact on the economy as well as bolster the portfolios of many investors.

The benefits for non-traditional investors and the economy makes the Reverse ICO approach an inevitability. Performed within regulations and nearly identical to IPOs, jumping into the next wave of ICOs is a no brainer.

Tom Benson is CEO of Pathfinder Equity SystemsPathfinder helps companies launch Reverse ICOs using artificial intelligence coupled to expert analyst teams, to create the optimal token economic designs and product/market fit, matched to the world’s top ICO investors.

Follow us on Telegram.

Advertisement

Bitcoin, Ethereum, Bitcoin Cash, Ripple, IOTA, Litecoin, Dash, Cardano: Price Analysis, Jan.2

The views and opinions expressed here are solely those of authors/contributors and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

The cryptocurrency mania can be gauged from the fact that Bitcoin, with its 1300 percent plus gains, doesn’t find a place among the top 10 best performing cryptocurrencies of 2017. The top performer was Ripple, with more than astounding 30,000 percent increase over a year.

In comparison, the traditional investors consider themselves lucky if they outperform the S&P 500, which rallied 20 percent last year.

While no one can predict what will happen in 2018, one thing is certain; if the traders can spot the setups, they can reap a rich reward.

As we already saw both cryptocurrencies rallying collectively and them going separate ways, it might be a good idea to diversify your portfolio with more than one cryptocurrency.

Our attempt should be to trade the best setups that can offer us the maximum profits with the minimum risk.

So, let’s find out the probable candidates to buy this week.

BTC/USD

Bitcoin is finding strong buying support at the 50-day SMA; but, unlike before, it is not able to pullback with strength. The bears are strongly defending the $14,000 levels. The daily range has been shrinking for the past two days.

BTC/USD

On Dec. 30, though the BTC/USD pair broke below the neckline of the bearish head and shoulders pattern, it could not break below the 50-day SMA. It quickly climbed back above the neckline on the next day.

The bulls are finding it difficult to break out of the overhead resistance from the down trendline and the 20-day EMA; and we don’t find any buy setup between $12,000 and $14,000.

Still, Bitcoin is likely to rally to $16,000, once the cryptocurrency breaks out of the down trendline. On the other hand, if it breaks down of $12,000, it can retest the lows made on Dec. 22.

We expect a large range move within the next couple of days.

ETH/USD

We had mentioned that the digital currency will gain strength once it breaks out and closes above the downtrend line and that is what happened.

ETH/USD

The ETH/USD pair broke out of the downtrend line on December 31 and crossed the overhead resistance of $760 on January 01. Thereafter, it picked up momentum and has created a new lifetime high today.

If the bulls manage to sustain above $863, we can expect a rally to $973 levels, which is the next Fibonacci extension target. The resistance line of the ascending channel is also at this level. Therefore, we expect this level to offer a strong resistance.

On the downside, if the bulls fail to sustain above $863, the trendline of the channel close to the $760 mark, will act as a strong support.

BCH/USD

We expected Bitcoin Cash to plunge to the 50-day SMA, once it broke below the $2,300 mark. Instead, it took support at the trendline and is attempting a recovery.   

BCH/USD

If the BCH/USD pair sustains above $2,475, it should attempt a rally to $2,900 levels, which is a major resistance.

Any fall is likely to be supported at the trendline and if it breaks, the next support is at $2,072. However, the risk to reward ratio is not attractive, hence, we don’t recommend any trade on it right now.    

XRP/USD

The correction in Ripple was short lived as the buyers jumped in at the $1.61 mark; it shows strength.

XRP/USD

For the past two days, the XRP/USD pair had been facing resistance at the $2.1 mark. Today, the bulls broke out of the resistance, which can push the pair to $2.474 levels.

We already saw the cryptocurrency consolidating for six to seven days, before resuming its uptrend. Thus, we anticipate a few more days of consolidation before the price breaks out to new lifetime highs.

On the downside, $1.8 and $1.6 are the two critical support levels. The momentum loses strength only when it breaks down to $1.6.  

IOTA/USD

We had indicated in our previous analysis that long positions can be initiated on a breakout and close above the downtrend line.

IOTA/USD

As the bears were unable to sustain below the critical support level of $3.032 for the past few days, chances are that the bulls will attempt to push the price towards the upper end of the range at $5.59.

Therefore, traders who haven’t initiated a long position yet can still do at the current levels of $4.121, with a stop loss of $2.85. We are aiming to trade the large range by buying close to the support and selling at the resistance. We await  IOTA/USD pair to be volatile but with a positive bias.   

LTC/USD

The bears had the upper hand on Dec. 30, with a break of the neckline of the head and shoulders pattern. But the bulls supported Litecoin around the $200 mark.

LTC/USD

Currently, the LTC/USD pair has broken out of the downtrend line, the neckline and the 20-day EMA. This is a positive move.

Above $250, a move to $283 and thereafter to $300 is likely. On the downside, strong support exists at $200 and below this at $175, from the 50-day SMA.

As this is still a pullback, we don’t suggest a trade on it.

DASH/USD

We expected the trendline support to hold and that is what happened. The cryptocurrency fell to the trendline on Dec. 30. However, the bounce from the support has been impressive.  

DASH/USD

We believe that the DASH/USD pair can now rally to $1,220 levels, where it is likely to face some resistance. On the other hand, any fall will find support at the trendline.

Since the risk to reward ratio does not look good, we are not suggesting any trade.

ADA/USD

Cardano remained in a range from Oct. 01 to Nov. 25. Thereafter, it rallied for four days and again became range-bound until Dec. 14. It then spiked again in the next five days from $0.135375 to $0.581983. Subsequently, it entered into a correction, which ended around the $0.37 levels.  

Cardano Charts

The latest leg of the up move started on Dec. 28 and it has crossed its first target objective of $0.75. The previous rallies lasted for around four to five days. Hence, we anticipate a pullback around the current levels, which should be a good buying opportunity, as the cryptocurrency remains in a strong uptrend.

Any pullback should find strong support at $0.68 and $0.60 levels.

The market data is provided by TradingView.

Adshares’ Token Crowdsale Is Nearly Over! The Revolution of Digital Advertising Shows Potential

Advertisement
This is a paid-for submitted press release. CCN does not endorse, nor is responsible for any material included below and isn’t responsible for any damages or losses connected with any products or services mentioned in the press release. CCN urges readers to conduct their own research with due diligence into the company, product or service mentioned in the press release.

The token sale on the blockchain platform that wants to revolutionize digital advertising, Adshares, approaches its end with more than 4,700,000 USD raised so far (~5600 ETH). Don’t miss out! Read more to learn how to become a part of the Adshares ecosystem, a decentralized, peer-to-peer market for programmatic advertising.

The Adshares Token Sale is LIVE until the 12th of January

The token sale has been going on since July 2017. Adshares has now reached its goal of a minimum 4000 ETH raised. The exchange rate for an Adshares token is 1 ADTS = 0,000535 ETH at the moment, and investors can purchase tokens only by using ETH.

Read more about how Adshares tokens can be purchased on: https://ico.adshares.net

The crowdsale was initially scheduled to end at the end of 2017, but the team decided, instead, to set the end date for the ICO as the 12th of January 2018 at 20:00 GMT. There are two reasons for that. First, the end of the year is not the best time for investment deadlines because it is the holiday season. Second, it will allow the company to show a more functional prototype before the end of the ICO.

One of the key advantages of this crowdsale model is the use of good incentives. The Adshares team offers extensive buyback for ADST tokens and has limits on the use of collected funds. Another advantage of the Adshares smart contracts is the good price stability of ADST, which reduces the price risk for both advertisers and publishers.

The State of the Project

The current estimate for the delivery of the Adshares MVP is in January 2018. Adshares has recently partnered with 10Clouds, a design & development firm with experience in blockchain projects, to help them with the design and engineering challenges.

You can read an update from the Adshares founder about the progress of this project and the future of digital advertising.

  • Raised: 5600 ETH / $4,744,961.40
  • Token name: Adshares token
  • Tokens sold: 13394890 ADST
  • Ticker symbol: ADST
  • Token price: Currently 0.00053 ETH, but it increases with the number of tokens sold (the earlier you buy, the more of a bonus you get)
  • Token sale goal: minimum 4000 ETH (already reached)
  • Minimum purchase: 1 token ~0.00535 ETH
  • Maximum purchase: No limit
  • Accepted currencies: Only ETH
  • End date: 2017-01-12 20:00:00 GMT
  • Adshares token sale page: https://ico.adshares.net
  • Email: [email protected]

About Adshares

The Adshares network is a decentralized, peer-to-peer market for programmatic advertising. Adshares provides better transparency, less fraud, and reduced costs for all market participants. The network runs on ESC Blockchain and uses Adshares tokens for ad payments. Fees collected from processing payments are distributed among token holders.

The Enterprise Service Chain (ESC) is a blockchain based software tool facilitating high volumes of simple transactions. In most cases, these transactions involve sending tokens between accounts, as is done with other cryptocurrencies. Its efficient architecture allows the ESC blockchain to handle large volumes of transactions with little cost (100,000 tx per second).

Almost all existing blockchains exclusively reward miners, which are not directly exposed to token price risks. The team at Adshares believes price risk should be compensated, and that is why 80% of the fees collected by the system are paid in dividends without a need for mining.

Peter Thiel’s VC Fund Invests Millions Into Bitcoin, Market Reacts

Peter Thiel’s San Francisco-based venture capital firm Founders Fund has invested millions of dollars into Bitcoin (BTC), the The Wall Street Journal (WSJ) reported today, citing sources “familiar with the matter”.

The Fund reportedly invested $15-20 million into Bitcoin, which has grown into hundreds of millions in the past year. Since Jan. 1, 2017, BTC has risen by almost 1,400 percent.

The WSJ report was unclear on whether or not Founders had sold any of its holdings to date.

Thiel, co-founder of PayPal and an early Facebook investor, also serves on President Trump’s technology advisory council. At an investment conference in October, Thiel spoke positively about cryptocurrency, and in particular about Bitcoin, saying:

“While I’m skeptical of most [cryptocurrencies], I do think people are a little bit underestimating bitcoin, specifically, because it is like a reserve form of money. If bitcoin ends up being the cyber equivalent of gold, it has great potential.”

The market reacts

Since the WSJ reported on the Founder Fund’s BTC investments, the price of the leading cryptocurrency has gone up, growing almost 14 percent in the past few hours to a peak of $15,444 a coin. BTC has been trading sideways since, priced at around $15,000 at press time.

Bitcoin Charts

The price boost today follows a volatile past few weeks, after the coin hit an all-time high of over $20,000 in late December and then crashed to as low as $11,833 on December 22. Today, BTC dominance reached a new all-time low of 34.97 percent, reflecting an increased market interest in altcoins.

Other well-known mainstream investors to bet on Bitcoin recently include Bill Miller, who told reporters in mid-December that 50 percent of his hedge fund’s money was invested in the leading cryptocurrency.

The launch of Bitcoin futures last month on two major American exchanges has also brought more mainstream investors into the cryptocurrency market.