TokenZone News

Bitcoin, Ethereum, AltCoin and ICO News

Nano Community Rushes To The Aid Of Venezuelan User Amidst 40,000% Inflation

1024357978-624x351

Venezuela’s economy has been breaking down for months, if not years, with its currency inflating unsustainably. This has lead users to seek ways other than the Venezuelan Bolivar to transfer value, with cryptocurrencies, like Nano, quickly becoming an alternative currency.

Users Donate $600 In Nano To Life-Changing Results

On Sunday, a Venezuelan Reddit user with the username ‘Windows7733’ made a post chronicling a cryptocurrency donation, albeit small, that he received.

The Reddit user wrote:

I got it (0.5 Nano) from someone who helped me in my current situation, currently living in Venezuela. 0.5 nano is almost one entire monthly salary in my country. It’s more than I made last month. I’ve been doing a quick research into this cryptocurrency and it fits very well for my entire country, I’m going to read more about this and hopefully I’ll tell about nano to friends who would want to use it.

For those who are unaware, Nano is a cryptocurrency that touts instant and zero-fee transactions, making an ideal candidate for an alternative currency. At first, this post was met with a smidge of skepticism. But as the post quickly skyrocketed, the user posted a Venezuelan passport to bring clarity to the situation. 

Continue reading
  57 Hits
  0 Comments
57 Hits
0 Comments

Bitcoin (BTC) Price Analysis: Hovering Near Channel Top

1494218833_Pv7tQb_bitcoin

Bitcoin continues to trade higher inside an ascending channel on its 1-hour time frame and has been attempting to break past the resistance this week. Technical indicators are showing that the uptrend is more likely to resume than to reverse.

For one, the 100 SMA is safely above the longer-term 200 SMA to confirm that the path of least resistance is to the upside. The 100 SMA is holding as dynamic support as well, although bitcoin appears to be closing below it already. In any case, support could be located at the 200 SMA dynamic inflection point also.

RSI is crawling higher to show that buying pressure is returning and might be enough to spur another test of resistance around $6,800. Similarly stochastic is moving north so bitcoin could follow suit while buyers remain in control.

So far, the mid-channel area of interest is able to keep losses at bay but a break below this could spur a test of the channel bottom around $6,300. A move below that floor could spur a reversal from this short-term climb.

On the other hand, a break past the $6,800 to $7,000 levels could mark the start of a steeper and more prolonged climb for bitcoin.

Continue reading
  73 Hits
  0 Comments
73 Hits
0 Comments

Ethereum Price Analysis: ETH/USD Consolidating Above $460

ethereum-pedrosek-660-195
Key HighlightsETH price traded in a range above the $458-460 support zone against the US Dollar. Yesterday’s highlighted crucial bullish trend line is intact with support at $458 on the hourly chart of ETH/USD (data feed via Kraken). The pair may slowly move higher as long as it is above the $458 support level.

Ethereum price is trading in a range against the US Dollar and Bitcoin. ETH/USD could gain traction if buyers continue to stop declines below $458.

Ethereum Price Support

Recently, there were a couple of swing moves above $455 in ETH price against the US Dollar. The ETH/USD pair tested the $476-480 resistance zone where it faced sellers. It declined and traded towards the $455-460 support area. Buyers were able to protect losses below $458 and the price remains supported. The recent low was $458.29 and the price is currently moving higher.

It is trading above the 23.6% Fib retracement level of the last decline from the $483 high to $458 low. The price is slightly in the bullish zone above $465 and the 100 hourly simple moving average. An initial resistance on the upside is near the $470 level. The next one is the 50% Fib retracement level of the last decline from the $483 high to $458 low at $471. Above this, the price could continue to move higher towards the $478 resistance. A successful break above the $478-480 resistance zone is needed for buyers to gain traction. On the downside, yesterday’s highlighted crucial bullish trend line is intact with support at $458 on the hourly chart of ETH/USD.

Looking at the chart, the price is trading comfortably above the $458 support area. However, it must gain traction above the $478-480 resistance zone to move further higher. Otherwise, there is a risk of a break below the trend line and $455 in the near term.

Hourly MACD – The MACD is slowly moving in the bullish zone.

Continue reading
  73 Hits
  0 Comments
73 Hits
0 Comments

Bitcoin Cash Price Analysis: BCH/USD Struggling Below $760

Bitcoin-Cash
Key PointsBitcoin cash price failed to remain above the $760 support and declined against the US Dollar. There was a break below a key bullish trend line with support at $748 on the hourly chart of the BCH/USD pair (data feed from Kraken). The pair is currently holding the $720 support, but it may struggle to gain upside momentum.

Bitcoin cash price declined below $760 against the US Dollar. BCH/USD must stay above the $720 support to avoid more declines in the near term.

Bitcoin Cash Price Decline

There were a couple of rejections noted around the $760-770 zone in bitcoin cash price against the US Dollar. The BCH/USD pair started a downside move and declined below the $750 support. There was even a close below the $750 pivot level and the 100 hourly simple moving average. These are negative signs and suggests that the price is struggling to move above $770.

During the decline, there was a break below a key bullish trend line with support at $748 on the hourly chart of the BCH/USD pair. The pair traded close to the $720 support and is currently trading in a range. It recently tested the 23.6% Fib retracement level of the last drop from the $810 high to $716 low. However, there is a strong resistance forming near the $750 level. Moreover, a bearish trend line is in place with resistance at $750. Therefore, a break above $750 is needed for a recovery in BCH.

Looking at the chart, the price must stay above the $720 support. If not, there is a risk of more declines towards the $700 level in the near term. On the upside, above $750, the next hurdle is at $770 and the 100 hourly SMA.

Looking at the technical indicators:

Continue reading
  57 Hits
  0 Comments
57 Hits
0 Comments

European ETF Trading Behemoth Begins Trading Bitcoin and Ethereum ETN

bitcoin-ether
Flow Traders NV, Europe’s largest exchange-traded funds (ETF) trader has begun buying and selling Bitcoin and Ethereum exchange-traded notes (ETN). The company becomes the first to reveal its participation in any cryptocurrency ETN. The big question now is, when will a Bitcoin ETF become a reality?Buying and Selling Bitcoin and Ethereum ETNs

An ETN isn’t all that different from an ETF. The principal difference between the two is that ETFs are investments in funds that track the price movement of an asset whereas ETNs are more like investing in bonds.

Flow Traders is trading in the Bitcoin and Ethereum ETNs launched by XBT Provider in 2015 and 2017, respectively. XBT is listed in Sweden with an asset management portfolio north of $1 billion.

This news of a cryptocurrency ETN listed on a regulated exchange is perhaps the most significant virtual currency news since the emergence of Bitcoin futures trading in December 2017. For one thing, it is yet another investment vehicle that is right up the alley of institutional investors.

Many analysts and commentators have identified the entry of institutional money into the cryptocurrency space as the next milestone in the growth of the industry. Investment products like futures, ETNs, and ETFs provide a much more viable option for these investors than the usual cryptocurrency trading market.

Commenting on the development, Dennis Dijkstra, the co-CEO of Flow Traders NV said:

Continue reading
  79 Hits
  0 Comments
79 Hits
0 Comments

Cryptocurrency-Related Thefts and Money Laundering Spike in Early 2018

dc

Do you think hacks and money laundering associated with cryptocurrency will be as prevalent in the last six months of 2018 as it was for the first six months? Let us know in the comments below.

The first half of 2018 has been troublesome for the cryptocurrency industry. Falling prices have made a lot of investors wary. An increase in cryptocurrency theft and associated money laundering have caused additional issues. Three times as much money has been laundered via cryptocurrency in 2018 compared to last year.

Cryptocurrency Money Laundering Concerns

A new report by CipherTrace outlines a dark first half of 2018 for all cryptocurrencies. Various exchanges and trading platforms have suffered from hacks during this period. Coincheck lost several hundred million dollars, and Bithumb lost money not that long ago as well. Affected users have been reimbursed in the process, yet it still remains a troublesome trend to keep an eye on.

The same report also touches upon money laundering. Without anonymity features, most cryptocurrencies don’t lend themselves to this specific purpose. Despite that fact, there has been a strong increase in cryptocurrency-related money laundering due to the spike in exchange hacks. With $761 million in stolen funds to contend with, the current situation doesn’t look promising.

CipherTrace indicates this figure is expected to rise throughout 2018. A total of $1.5 billion worth of cryptocurrency can end up stolen or laundered by late December. To combat this issue, the company will launch a new AML tool. This tool helps crypto-related businesses comply with local anti-money laundering laws, which should help beef up security.  

Continue reading
  71 Hits
  0 Comments
71 Hits
0 Comments

Ripple (XRP) and Brad Garlinghouse Face Another Securities Lawsuit

1-nGQQjtrIx03FPHMq4ouv6w

A third lawsuit was filed last week against Ripple Labs Inc., Brad Garlinghouse and XRPII LLC (which is a money services business unit of Ripple Labs). The lawsuit alleges that the defendants are liable to securities fraud. The plaintiff, David Oconer, is further seeking that XRP be declared a security.

The lawsuit claims that the digital asset known as XRP is managed and distributed by Ripple Labs hence making it part and parcel of the parent company. This means that the parent company of Ripple has violated US securities regulatory laws by issuing, maintaining and supporting XRP.

The plaintiff, through his lawyers, claims that Ripple manipulated the price of XRP by locking up 55 Billion XRP in escrow back in December. This in turn caused a supply guarantee that consequently led to the bull run that XRP experienced from December to January when it peaked at values close to $3.80.

The lawsuit points at a particular tweet by Brad Garlinghouse back in December that said the following:

Boom! 55B $XRP now in escrow. Good for supply predictability and trusted, healthy $XRP markets. Glad to finally let this #cryptokitty out of the bag.

Continue reading
  78 Hits
  0 Comments
78 Hits
0 Comments

CEO: Bitcoin Will Probably Hit $2,000 Before It Hits $20,000

vaultoroheader1

The cryptocurrency market has come surging back over the past week, moving up 15% from its lows, but analysts and CEOs expect for Bitcoin to move downwards before returning to all-time highs.

Bitcoin Will “Probably Hit $2,000 Before It Hits $20,000”

The cryptocurrency community breathed a sigh of relief this week, as Bitcoin quickly rebounded off yearly lows, finding stability 15% above the $5,750 low.

Despite this bullish price movement, with Bitcoin seemingly breaking out of its bearish trend, the CEO of ADVFN expects Bitcoin to continue lower. Clem Chambers, CEO of the financial data provider, spoke to Express U.K. elaborating on his opinion on the direction of the cryptocurrency market.

When questioned about the $20,000 price level by an Express U.K. reporter at the CryptoCompare MJAC Blockchain Summit, Chambers noted:

“It will probably hit $2,000 before it hits $20,000.”

Continue reading
  85 Hits
  0 Comments
85 Hits
0 Comments

Today’s Double Digit Gainers: Ox (ZRX), Bitshares (BTS), Gas (GAS), ETHOS and ETN

Cryptocurrency_featured

Some crypto traders have put forth the idea that June 29th might have been the beginning of the 2018 Bitcoin (BTC) bull run. This is because the King of Crypto lept from levels of $5,800 to $6,400 in a time-span of less than 12 hours. BTC spiked once again on the 2nd of July from the levels of $6,300 to those around $6,600. The King of Crypto is currently trading at $6,701 and up 2.55% in 24 hours at the moment of writing this.

With a healthy and stable Bitcoin, comes a correspondingly responsive and healthy crypto market. Scrolling down coinmarketcap.com yields the observation of a few coins and tokens doing double digit gains as shall be elaborated below.

Ox (ZRX) is currently trading at $1.01 and up 12.36% in the last 24 hours. The Ox project promises an open, permissionless protocol that will allow for the trading of ERC20 tokens on the Ethereum blockchain. The project hinges on the fact that the future economy will be tokenized to some degree.

BitShares (BTS) is also sharing in the glory of a healthy market. The coin is currently trading at $0.17 and up 11% in the last 24 hours. The BitShares platform offers a stack of financial services including an exchange and banking on a blockchain.

Ethos (ETHOS) is another token doing double digit gains. The token is currently valued at $2.18 and up 32.74% in the last 24 hours. The Ethos wallet allows users to store, track, learn send and receive digital assets in one convenient place. There are plans of creating a cold wallet that would be fully integrated to the mobile wallet.

Continue reading
  63 Hits
  0 Comments
63 Hits
0 Comments

Ripple Price Analysis: Can XRP/USD Bounce Back?

Ripple-

Ripple price is trading in a bullish zone above the $0.4800 support against the US Dollar. XRP/USD could bounce back if it continues to stay above $0.4800-0.4900.

Key Talking Points

Ripple price started a downward correction after forming a high above $0.5200 against the US Dollar. There is a major bullish trend line in place with support at $0.4880 on the 2-hours chart of the XRP/USD pair (Data feed via Bitstamp). A break below the trend line and the $0.4800 support may increase pressure on buyers.

There were decent gains during the past few days in Ripple price above the $0.4500 level against the US Dollar. The XRP/USD pair jumped above the $0.5000 resistance and traded close to $0.5200.

Looking at the chart, the price formed a high at $0.5202 and started a downward correction. It declined below the $0.5000 support and the 23.6% Fib retracement level of the last wave from the $0.4230 swing low to $0.5202 high.

However, the decline was stopped near a major bullish trend line with current support at $0.4880 on the 2-hours chart of the XRP/USD pair. Moreover, the 50% Fib retracement level of the last wave from the $0.4230 swing low to $0.5202 high also played its part well.

Continue reading
  59 Hits
  0 Comments
59 Hits
0 Comments
Get 100 Satoshi when you Login via Facebook or Twitter!