Ethereum’s 1M Transaction Volume Propells Expert Predictions to Further Price Upsurge

Coinspeaker Ethereum’s 1M Transaction Volume Propells Expert Predictions to Further Price UpsurgeEthereum (ETH) stands to be the most talked about and widely used token out of the 2296 cryptocurrencies in the world after Bitcoin (BTC). The relevance of Ether (as it is most commonly referred to) is further accentuated as CMC registers a market dominance on the go.With the number one crypto-coin having a market dominance of 61.5%, Ether solidly trails behind with an almost 10% dominance of the overall cryptocurrency trading volume. As of the time of writing, an estimate of the total market capitalization was within the range of $318 billion USD, alongside an approximate of $91 billion USD daily trading volume.Current Trend in Ethereum Price FluctuationsAt the present time, Ethereum price vacillates around $294. And as BTC continually plunges, ETH, however, maintained a little bit of grip as it traded at $320 amidst the colossal week-span price deterioration of cryptocurrencies in general.So much as this stands to be a massive plunge, it still is a major boost when in juxtaposition to the digital currency’s daily transaction volume from 5 months ago, which was well around $380,000 USD increasing to an all-year high of $1,000,000 USD irrespective of Bitcoin’s price dip.The 52-Days Price HikeIn spite of these past events and at the wake of the most recent developments, renowned Crypto Specialist Mitoshi Kaku hopes for yet another massive boost come this summer. In what might span a 52 day period of uninterrupted bullish trend for Ethereum.In a statement on Twitter, He expresses the possibility of a brewing bullish formation that could ignite a sudden craze for the digital token in the coming week, as he tweeted:Gann pivot for $ETH (BTC) this week. 👀 – Could potentially have a 52 day bull run.— Mitoshi Kaku 👨🏻‍🚀 (@CryptoSays) June 30, 2019Basing his investigations on a technical standpoint and taking into consideration the price growth of BTC, he further postulates on future ETH gains. The two major crypto analyst tools, which includes; the fundamental and the technical aspects of cryptocurrency analysis, projects the price of ETH to reach unfathomable gains, most significantly during the first week of July. He stated in another tweet:A little explanation to those that want to understand the analysis in a better way. These are the levels I am looking for, and the signals are there already. The next time that Chikou line goes above and retest the cloud it will be bull time. Plan accordingly. Maybe 7/5-7/7 $ETH— Mitoshi Kaku 👨🏻‍🚀 (@CryptoSays) June 30, 2019Additionally, it is pertinent to point out the fact that ETH has more room to peak greater highs. As there exists a tonne of projects that partook in ICOs during the fall of 2018, with some being already listed into the market, and others having their tokens distributed but locked, a successful listing of these projects could skyrocket the price to ETH to even greater horizon.Also evident, is the fact that these projects ties not only their funding mechanism, but also their underlying technology to the Ethereum blockchain.In Conclusion, if this comes to fruition, ETH could surmount BTC in terms of market domination as it could enjoy a wider use-case on the long run.Ethereum’s 1M Transaction Volume Propells Expert Predictions to Further Price Upsurge

Two Persons Referred to in Bitcoin White Paper Share Views on the Future of Cryptos

Coinspeaker Two Persons Referred to in Bitcoin White Paper Share Views on the Future of CryptosBlockstream CEO Adam Back, the person responsible for creating hashcash, and Yugen Partners Chief Scientist Scott Stornetta, who co-authored three other papers cited in the Bitcoin white paper, were asked to share their thoughts on the future direction of Bitcoin and the cryptocurrency space more generally.YouTuber Naomi Brockwell went on to ask them about Bitcoin’s crazy price swings and continued movement upwards on the back of multiple reports the price had reached a bottom late last year and Facebook’s Libra cryptocurrency announcement. Also, there was another rather interesting Bitcoin event last week that was somewhat overlooked.Bitcoin 2019 conference happened last week in San Francisco and there was plenty to talk about. Stornetta joked that the fact he was wearing a suit and tie and now works as a private equity investor in the blockchain space does not mean he’s “gone to the darkside” or sold out. He said:“Let me just state unequivocally that I am a fundamental believer in the ability of these technologies, basically the cryptographic technologies writ large, to level the playing field . . . I’m not a crypto-anarchist, but I certainly am a crypto-libertarian. And I think we are going to get to the world that we want and that we deserve. We just need to find a path that leads from A to B.”He added that he is pretty much bullish on Bitcoin over the next ten years, but added that he believes distributed ledger technology will be further broadened and diversified in the future.“I think there’s plenty of potential for Bitcoin to kind of work out the issues that you’re talking about, but there’s potential for other things. I think we’re going to see a real flourishing, and it doesn’t all have to be about money, of course.”Back, on the other hand, said that “Bitcoin time” appears to move even faster than “internet time,” which is a reference to the fast pace at which new advancements and innovations are made in the space.He commented:“It’s pretty challenging to even keep up with the pace of new things that are being developed — new ideas and implementations of them. Blockchain and bearer electronic cash is a whole new sort of building block, and it has implications with smart contracts. Basically, it’s sort of like picking up a new programming language with a new paradigm, and it takes a while for people to natively understand it and reach the conclusion of what kinds of things you could build with it.”He said that in terms of coins, he looks at it as a sort of TCP/IP — that there’s one “interoperable standard”. He added:“And it’s kind of lingua franca for exchanging value. And if any kind of innovation can be adopted in layers or, ultimately, people can import Bitcoin’s UTXO set to another data structure if a new data structure is found.”Two Persons Referred to in Bitcoin White Paper Share Views on the Future of Cryptos

Stellar Lumen (XLM) Price Remains At Risk Of More Downsides

Stellar lumen price declined heavily after it failed to climb above $0.1320 against the US Dollar.
XLM price broke many supports and even settled below the $0.1175 pivot level.
Recently, there was a break below an ascending channel with support at $0.1100 on the 4-hours chart (data feed via Kraken).
The pair is currently struggling to recover and it could break the $0.1040 support area.

Stellar lumen price is facing many hurdles on the upside near $0.1110 against the US Dollar. XLM price must stay above the $0.1040 support to avoid additional losses.
Stellar Lumen Price Analysis (XLM to USD)
This past week, stellar lumen price made a few attempts to break the $0.1320 resistance against the US Dollar. The XLM/USD pair failed to gain momentum, resulting in a fresh decline below the $0.1250 support area. There was a clear break below the $0.1200 support and the 55 simple moving average (4-hours). Moreover, there was a break below a major bullish trend line with support near $0.1240 on the 4-hours chart.
The price even broke the $0.1100 support and traded as low as $0.1033. Recently, there was an upside correction above the $0.1100 level. However, the price failed to surpass the previous support near $0.1175. Finally, the price declined again below the $0.1100 support area. Moreover, there was a break below an ascending channel with support at $0.1100 on the 4-hours chart.
Stellar price retested the $0.1040 support and it is currently consolidating losses. It is trading above $0.1070 and the 23.6% Fibonacci retracement level of the upward move from the $0.1204 low to $0.1345 high. However, there are many hurdles on the upside for buyers near $0.1110 and $0.1120. An immediate resistance is near the $0.1108 level. The 50% Fibonacci retracement level of the upward move from the $0.1204 low to $0.1345 high is also near the $0.1108 level to act as a resistance.
Having said that, a close above the $0.1150 and $0.1175 levels is needed for more gains. If there is an upside break, the price could revisit the $0.1320 resistance level. If not, there is a risk of more losses below the $0.1060 and $0.1040 support levels.

The chart indicates that XLM price is trading above a major support near $0.1040. If there are more losses, the price could even struggle to hold the main $0.1000 support area.
Technical Indicators
4 hours MACD – The MACD for XLM/USD is slowly away from the bearish zone, with a positive bias.
4 hours RSI – The RSI for XLM/USD is currently just above the 40 level, with a positive angle.
Key Support Levels – $0.1040 and $0.1000.
Key Resistance Levels – $0.1125, $0.1150 and $0.1175.
The post Stellar Lumen (XLM) Price Remains At Risk Of More Downsides appeared first on Live Bitcoin News.

Banks vs. Crypto: Battle for Domination

Coinspeaker Banks vs. Crypto: Battle for DominationThe prospect of decentralization brought on by cryptocurrencies like Bitcoin, Ethereum and a thousand more didn’t sit well with the banks. For one, it challenges the banks’ longstanding prime institutional position in the finance sphere. Once considered the key players in financial policies, they are slowly being moved to the sides by digital technologies.The second was the control of the assets. Consumers with non-custodial wallets can enjoy the maximum possible control of their funds; all the while protecting their assets from malicious intents. Unlike banks, these digital structures don’t have a centre point of failure and they don’t really charge a lot.With rapid increase in the interest of the masses in decentralization, the future looks bleak for the banks unless they either work hand in hand with digital technologies or provide more incentives to their already existing consumer base.On the Federal Bank of San Francisco, an article from 2001 urges reader to imagine a world without banks. It then goes on to ask the now tense reader to think about where would they go to borrow money, or what would they do with their savings and how much risks might they bet against in doing that. This rhetoric essentially communicates the importance and the role of banks in providing convenience and security to the people.Fortunately for us, we can say that in this age, we don’t need the banks, at all. We have successfully tamed the whole banking system and its benefits into a single system available for use for the whole world, free of cost.Enter TokenCardTokenCard is Ethereum-powered self-service, fully decentralized, non-custodial banking alternate solution that allows users to spend their Ethereum and smart contracts on Ethereum blockchain (ERC-20) in real life. It provides consumers a fix of their own habits, with an additional lot of benefits and convenience.TokenCard employs Visa Card that is accessible anywhere just like a normal debit card. They have just launched their own dedicated iOS application that brings control of the assets even closer to the consumer. With an option to convert from token to fiat, preloading your Visa Card will make it useable – globally.Mel Gelderman, CEO of TokenCard, says launching on the iOS App Store is the first step towards displacing the centralised economy of old with a smarter, more agile system that gives its users full control over their money:“This is an opportunity for early adopters and crypto enthusiasts who want to make living a ‘tokenised’ life away from big banks and corporations a reality.”This is exactly cryptocurrency in specific and blockchain in general, doing to the banks – stripping them of unchallengeable control on finance of the whole world.Mel Gelderman, talking about TokenCard, also discussed the uniqueness it brings to the table:“Compared to other crypto card or wallet providers TokenCard makes daily token spending and storing really easy, accessible and secure without compromising on decentralisation. TokenCard will never touch user assets, they are theirs and theirs alone.”TokenCard has also announced that the first 1,000 people who sign up to use the card will get $15 worth of DAI, the Ethereum-powered stablecoin, credited to their account. Customers that have already signed up and who were actively using their card during the TokenCard alpha, have already been rewarded with 50 TKN – TokenCard’s native cryptocurrency.This is a huge step towards consumer adoption of blockchain based-products. Without the physical presence of a third party in a transaction that not only adds delay to the process but also chips away chunks of your money, the entire process will not only become easier, efficient but cost-effective. The convenience of the iOS application is just the cherry on top.Banks vs. Crypto: Battle for Domination

Facebook’s Libra Gets Its Clones Before It’s Even Released

Coinspeaker Facebook’s Libra Gets Its Clones Before It’s Even ReleasedA code for the early access on Facebook’s Libra cryptocurrency didn’t really fell on the fertile ground when talking about one of the biggest software development platforms GitHub. Two weeks ago this was the main discussion with the critics and wannabe trollers who have taken aim at the project.The project on GitHub has been saved or “starred” by close to 10,000 users, signifying an early wave of interest among open-source participants. Moreover, around one thousand clones of the codebase have been created and not just that but, wannabees also went to experiment with Libra’s code.Some of the “fakers” went on to play with the code went even further. They were actually adding features that they had previously found in cryptospace – meaning Bitcoin. Saying that we already can see, that these efforts weren’t meant to be serious.Take “Libra Classic” for example. The creator of this, as he calls it, joke, Mikko Ohtamaa, admitted that his effort was “a complete troll” and meant to be taken as a joke. The truth is that it is really too early. Nobody has seen this outside of the Libra, Calibra, and Facebook team before.On the other hand, Albert Castellana, chief product officer at cryptocurrency startup Radix DLT, said that there have been no real code flaws submitted so far. Most of them have build issues or typos, and then this is a fertile ground for the critics who then point out that this is not a decentralized solution.If we look at this from the beginning, Libra is designed in the way that a group of 28 founding members is responsible for validating transactions and appending new blocks. At the same time, Facebook is expressing hope that the network will grow to be more decentralized over time.If we compare it with Bitcoin, maybe the biggest difference stands when it’s about usage. For now, Libra still hasn’t been released, and you can not use it. When the time comes, if it’s to believe the announcements it will be in 2020, that digital currency will be used for purchases and trades on Facebook, WhatsApp, and other applications that Facebook owns.Other supporting websites will potentially come on board at that time, most likely members of the Libra Association, but that still hasn’t been officially confirmed.Several community members in the cryptocurrency space have directly criticized the permissioned structure of the Libra blockchain not just on social media but on GitHub by nitpicking through every detail of the Libra code.Last few days, around 160 issues have been flagged with the Libra codebase. Over 100 of them have been closed by authenticated users of the codebase, with a handful of these additionally marked as “off-topic.”GitHub user “gazhayes” wrote:“I’ve discovered an alarming vulnerability, but fortunately there’s a really simple fix…This problem can easily be solved by using a permissionless system where the hard power is decentralized across a very large number of participants.”The pull request was closed and the resulting conversation was marked off-topic by the official Libra GitHub administrator, which led to complaints by those who characterized gazhayes’ post as a legitimate remark. Tech lead for Calibra, Ben Maurer commented:“We’re really cognizant of the fact that this is a transformative effort and that we need to build a community around it. But having discourse doesn’t mean the lack of moderation. Off-topic conversations detract from fruitful ones. The thread on #83 was not productive and would have tied up moderation resources.”Facebook’s Libra Gets Its Clones Before It’s Even Released

G20 Must Come to a Multilateral Decision on Cryptocurrency Regulation: deVere Group CEO

Coinspeaker G20 Must Come to a Multilateral Decision on Cryptocurrency Regulation: deVere Group CEOSince the G20 summit was happening in Japan, which is one of the most advanced countries in the world crypto-wise, many experts believe that the summit should bring some kind of a regulatory decision on cryptocurrency industry as such. Nigel Green, the founder, and CEO at deVere Group commented:“Due to the astonishing and quickening pace of the digitalization of the global economy – and the far-reaching impact of this – political leaders, finance ministers, central bank representatives and others at this year’s G20 summit must ensure decisive steps towards a multilateral cryptocurrency regulatory framework are taken. A failure to do so would be, in my opinion, irresponsible and negligent.”He confirms that the cryptocurrency market is here to stay with Bitcoin surging almost +193% in value year-to-date. However, he believes that this bull run isn’t particularly impressive. He says that it just proves that the market is becoming “unstoppable as institutional investors increasingly step off the sidelines and jump into the sector,” says Green.Nigel Green believes that retail investors by now understand that digital currencies are the future of money and they all want to be a part of it:“The G20 summit is a golden opportunity for leaders to position themselves on the right side of history.”He’s certain that digital money can potentially bring enormous economic benefits and mitigate risks. The leaders of G20 just need to adopt a common set of regulatory guidelines:“Now is the time – especially given that at the summit in Japan, one of the most crypto-advanced jurisdictions, has drawn on its experience and is preparing to share a crypto regulation solution at the summit. It would be foolhardy not to seize the opportunity that this summit represents.”Dow Jones Index Rises as G20 Comes to an EndThe Dow Jones Industrial Average stock price recently saw a severe increase in value, since the G20 summit ended. It has gone from $26,537 to $26,624 in the past couple of hours. This could indicate that the discussions between Donald Trump and Xi Jinping went on a positive note.The US stock market and the global financial market have been waiting upon this event, with the price of stocks continuously falling. Until now. Before going into the G20, Donald Trump said reporters that he expects “at a minimum” a productive meeting.“Trade is an open issue. But we will find a resolution because of the data flow that we are seeing, which is that the Chinese economy is slowing down meaningfully and the US economy is slowing down meaningfully. That gives the politicians significant incentive to come to a consensus,” commented Krishna Memani, the CIO at OppenheimerFunds.G20 Must Come to a Multilateral Decision on Cryptocurrency Regulation: deVere Group CEO

Ripple Price Analysis: XRP Recovery Could Face Many Hurdles

Ripple price declined recently after it failed to clear the $0.4920 resistance area against the US dollar.
The price broke the key $0.4400 support area and it even spiked below the $0.4000 level.
There was a break below two bullish trend line with support near $0.4510 and $0.4400 on the 4-hours chart of the XRP/USD pair (data source from Bittrex).
The price is currently correcting higher, but it could face a lot of hurdles near $0.4360.

Ripple price declined below $0.4400 and moved into a bearish zone against the US Dollar. XRP is moving higher, but it might struggle to climb above the $0.4200 and $0.4360 levels.
Ripple Price Analysis
This past week, there was a major drop in bitcoin, Ethereum, bitcoin cash, ADA and ripple against the US Dollar. The XRP/USD pair failed to clear the $0.4920, $0.4950 and $0.5000 resistance levels. As a result, there was a major decline below the $0.4600 and $0.4500 support levels. Moreover, there was a close below the $0.4500 support and the 55 simple moving average (4-hours).
More importantly, there was a break below two bullish trend line with support near $0.4510 and $0.4400 on the 4-hours chart of the XRP/USD pair. Finally, there was a break below the $0.4200 support and the $0.4000 pivot level. A swing low was formed near $0.3802 before the price started an upside correction. There was a break above the $0.3920 and $0.4000 levels.
Moreover, the price climbed above the 23.6% Fib retracement level of the last decline from the $0.4925 high to $0.3802 low. However, the upward move was capped by the $0.4250 zone. The main resistances on the upsides are near $0.4250 and $0.4360. The 50% Fib retracement level of the last decline from the $0.4925 high to $0.3802 low is also near the $0.4364 level.
At the moment, the price seems to be following an ascending channel with support near $0.4020 on the same chart. If there is an upside break above the $0.4360 resistance, the price could continue to rise in the near term. On the other hand, if there is a downside break, the price could extend losses below the $0.4000 support area. In the mentioned case, the price may even test the $0.3800 level.

Looking at the chart, ripple price is currently correcting higher above $0.4000. However, there are many hurdles on the upside near the $0.4250 and $0.4360.
Technical indicators
4 hours MACD – The MACD for XRP/USD is slowly gaining momentum in the bullish zone.
4 hours RSI (Relative Strength Index) – The RSI for XRP/USD is currently just above the 40 level, with positive signs.
Key Support Levels – $0.4020, $0.4000 and $0.3800.
Key Resistance Levels – $0.4250 and $0.4360.
The post Ripple Price Analysis: XRP Recovery Could Face Many Hurdles appeared first on Live Bitcoin News.

Bitcoin Price Slips Back to $11,000 As Overall Crypto Market Bites the Dust

Coinspeaker Bitcoin Price Slips Back to $11,000 As Overall Crypto Market Bites the DustLast week has been pretty volatile for Bitcoin (BTC) and the overall cryptocurrency. On Thursday, June 27, Bitcoin ended its massive bull run losing $3000 in a single day. According to the weekly chart on CoinMarketCap, Bitcoin price slipped from over $13,600 levels to making a low of $10,605 within 24-hours.Although Bitcoin tried to cover the lost ground, the bulls couldn’t push the price northwards above $12,400 levels. In the last 24-hours, Bitcoin price has lost 7.5% and is currently trading at $11,113. With the latest price correction, Bitcoin’s market cap slips below $200 billion currently at $197 billion.However, despite last week’s major correction, Bitcoin continues to dominate over 60% of the overall cryptocurrency market. On the other hand, the daily trading volumes for Bitcoin are currently at $29.1 billion.Overall Crypto Market Falls As Altcoins Lose SteamThe ripple effect of Bitcoin’s fall on Thursday was seen across the entire cryptocurrency market. On Thursday, the overall cryptocurrency market lost $80 billion slipping from $386 billion to make a low of $307 billion. Besides if we see the global market weekly chart, the market volatility resembles a huge similarity to the Bitcoin price movement. At the press time, the overall market cap stands at $321 billion.Along with Bitcoin, major altcoins witnessed a plunge over the last week. Bitcoin’s immediate competitor and the world’s second-largest cryptocurrency Ethereum lost nearly 15% last week. Today, Ethereum (ETH) is trading 6.5% down and has slipped below its crucial support of $300.At the press time, Ethereum is trading at a price of $296 with a market cap of $31 billion. In the last week, Ethereum lost $50 price, however, its year-to-date returns are currently at over 100%. In another milestone, the Ethereum network exceeded 1 million daily transactions last Friday, June 28. This happened for the first time since May 2018.XRP hasn’t performed really well up to investors expectation even during the bull run over the last three months. However, in last week market correction, XRP lost close to 20% slipping from $0.48 to now at $0.40. Although, it still continues to be the third-largest cryptocurrency with a market cap of over $17 billion.XRP’s immediate successor Litecoin remained volatile in the last week. However, it has still been a decent performer in the massive crypto market fall. On Thursday, June 27, Litecoin lost $20 slipping from $133 to $113. However, it has recovered partially and is currently trading at $123 with a market cap of $7.6 billion. In terms of percentage returns, Litecoin has outperformed BTC with nearly 250% returns year-to-date.Over the last week, Bitcoin Cash (BCH) has lost $100 all the way from $506 to now at $409 levels, at the press time. Bitcoin Cash is just below Litecoin. It is currently the fifth-largest cryptocurrency with a market cap of $7.3 billion. Since the beginning of 2019, Bitcoin Cash has surged by nearly 150% so far.Bitcoin Price Slips Back to $11,000 As Overall Crypto Market Bites the Dust