Stellar Lumen (XLM) Price Facing Strong Resistance Near $0.062

Stellar lumen price traded to a new monthly low at $0.0525 against the US Dollar.
XLM price is currently correcting higher, but it is facing a strong resistance near $0.0620.
There was a break above a connecting bearish trend line at $0.0592 on the 4-hours chart (data feed via Kraken).
The pair is currently consolidating and it might struggle to climb above $0.0620 and $0.0650.

Stellar lumen price is trading in a bearish zone below $0.0650 against the US Dollar. XLM price remains at a risk of more losses below the $0.0550 support.
Stellar Lumen Price Analysis (XLM to USD)
This past week, there was a major decline in stellar lumen price below the $0.0650 support against the US Dollar. The XLM/USD pair broke many key supports near $0.0620 and $0.0600 to enter a bearish zone. Moreover, there was a close below the $0.0620 level and 55 simple moving average (4-hours). Finally, the price traded to a new monthly low at $0.0525 before starting an upside correction.
There was a break above the $0.0550 level to start the correction. Moreover, there was a break above a connecting bearish trend line at $0.0592 on the 4-hours chart. However, the upward move was capped by the $0.0620 resistance area. Additionally, the 23.6% Fibonacci retracement level of the last major decline from the $0.0888 high to $0.0525 low also prevented gains.
The price is now trading well below the $0.0620 level and the 55 simple moving average (4-hours). To start a solid recovery, the price must move above $0.0620 and $0.0650. The next key resistance is near the $0.0700 level. Besides, the 50% Fibonacci retracement level of the last major decline from the $0.0888 high to $0.0525 low is near the $0.0707 level.
Conversely, if the price fails to break the $0.0620 resistance, it could continue to move down. An immediate support is near the $0.0550 level. If there is a downside break below $0.0550, the price could retest the $0.0525 low. Any further declines might call for a push towards the $0.0500 support area.

The chart indicates that XLM price is clearly trading below a strong resistance area near the $0.0620 level and the 55 SMA. If there is a successful close above the 55 SMA, there are chances of a solid recovery to $0.0700. If not, the price might retest the $0.0525 low or it could even test the $0.0500 support.
Technical Indicators
4 hours MACD – The MACD for XLM/USD is currently losing pace in the bullish zone.
4 hours RSI – The RSI for XLM/USD is struggling to move above the 50 level.
Key Support Levels – $0.0620 and $0.0650.
Key Resistance Levels – $0.0550, $0.0525 and $0.0500.
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Five Valuable Reasons to Attend CGC

Coinspeaker Five Valuable Reasons to Attend CGCFor the fourth time in a row, CGC successfully claims the title of the largest conference dedicated to blockchain, digital assets, VR and AR in gaming. The event will take place in Kyiv, Ukraine, on October 10-11.It’s time to test yourself in an exciting race for the prize-pool at the hackathon, find investors, present your brand in all its glory at the stand or take part in the annual awards ceremony. VR / AR / AI / Blockchain in gaming are your passion? Get ready for an exhaustive list of features at the next CGC, held in Kyiv, Ukraine.CGC ShowcaseAn expo floor for startups and indie developers. Show your game to all attendees of CGC Kyiv 2019, including investors, media, fellow game developers, publishers and operators, platforms and everyone else. Get valuable feedback, make partnerships, and launch your product to the Moon!We provide a showcase table to selected teams in order to get attention and gain visibility for their projects.Find out all the rules and fill in the form thoroughly. Please provide as much information as possible, so we can accurately evaluate your project.Submission deadline: October 1, 2019Do not forget to register for CGC Awards!APPLY FOR SHOWCASEBUY A TICKETAPPLY FOR AWARDSCGC AwardsCGC Awards is a contest designed to recognize innovation and celebrate creativity. If you have a gaming project that uses blockchain, VR, AR, and other forefront technologies, and you believe it rocks – waste no time, apply now and grab your chance to win! Or try yourself and become one of the judges of CGC Awards.APPLY AS A CONTESTANTAPPLY AS A JUDGECGC PitchFirst introduced during Minsk 2018 event, CGC Pitch offers prominent startups an opportunity to present their products to investors laser focused on gaming, VR, AR, and blockchain, in a series of speed dating sessions.APPLY AS AN INVESTORAPPLY AS A STARTUPCGC + WAX HackathonAre you a dare to compete for $10,000 prize pool in a gaming hackathon sponsored by WAX?We want teams to create DApps on the WAX mainnet. If you already have an EOS app you’ve got a head start as you can easily turn it into a WAX mainnet app.Ready to participate?Just fill in the form below, and we will contact you for further details.APPLY FOR HACKATHONP.S. Gaming DApps are definitely preferred. However, any DApps will be reviewed and considered.Networking (+ a trip to Chernobyl)CGC is proud of its signature networking events, including parties, lounges, and meetups. This time, in addition to them, attendees are invited to an exclusive trip to Chernobyl – an iconic nuclear power plant and abandoned the town of Pripyat.Check out the HBO mini-series to find out more about the Chernobyl disaster. The number of seats on the bus is limited!Venue: Mercure Kyiv Congress, Kyiv, 6, V. Getmana Str.Five Valuable Reasons to Attend CGC

Ripple Price Analysis: XRP Consolidating Below Key Resistance

Ripple price is currently consolidating below the key $0.2500 resistance area against the US dollar.
The price must settle above $0.2500 and $0.2600 to start a fresh upward move.
There is a major bearish trend line forming with resistance near $0.2420 on the 4-hours chart of the XRP/USD pair (data source from Bittrex).
The price could resume its decline if it continues to struggle near $0.2500 and $0.2600.

Ripple price is facing a strong resistance near $0.2500 against the US Dollar. XRP price could either recover nicely above $0.2500 or decline back to $0.2200.
Ripple Price Analysis
This past week, there was a sharp decline in ripple price below the $0.2600 support against the US Dollar. XRP price even broke the key $0.2500 support area and declined heavily. Moreover, there was a close below the $0.2500 level and the 55 simple moving average (4-hours). It opened the doors for more losses and the price traded to a new monthly low at $0.2163.
Recently, it started an upside correction above $0.2200 and $0.2350. Moreover, it broke the 23.6% Fib retracement level of the last major decline from the $0.2858 high to $0.2163 low. However, the price faced a strong resistance near $0.2500 and stayed well below the 55 simple moving average (4-hours). Moreover, the 50% Fib retracement level of the last major decline from the $0.2858 high to $0.2163 low is near $0.2510 to provide resistance.
There is also a major bearish trend line forming with resistance near $0.2420 on the 4-hours chart of the XRP/USD pair. Therefore, a clear break above the trend line and the $0.2500 resistance is needed for a solid recovery. The next immediate resistance is near $0.2600 and $0.2650, above which the price will most likely revisit the $0.3000 resistance area.
Conversely, if the price fails to break the $0.2500 resistance or $0.2600, it could resume its decline. An immediate support is near the $0.2320 level. If there is a downside break below $0.2320, the price is likely to retest the $0.2160 zone. Any further losses may perhaps push the price towards the main $0.2000 support in the near term.

Looking at the chart, ripple price is facing a strong resistance near the $0.2480 and $0.2500 level. It won’t be easy for the bulls to gain strength above $0.2500. If they continue to struggle, there could be another drop towards $0.2150 and $0.2050.
Technical indicators
4 hours MACD – The MACD for XRP/USD is currently losing momentum in the bearish zone.
4 hours RSI (Relative Strength Index) – The RSI for XRP/USD is still below the 50 level, with a bearish angle.
Key Support Levels – $0.2320, $0.2150 and $0.2050.
Key Resistance Levels – $0.2500 and $0.2650.
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LATOKEN BEF In London: Token Sale Of Economic Interest In SpaceX Is Coming

Coinspeaker LATOKEN BEF In London: Token Sale Of Economic Interest In SpaceX Is Coming350+ representatives of VC funds, startups and blockchain experts gathered during VI LATOKEN Blockchain Economic Forum. Among the broadly discussed topics were Libra, the governance & monetary policy for digital currencies, the blockchain use-cases and upcoming LATOKEN’s token sale of USPX, an economic interest in SpaceX.Contributing to SpaceX and Other Private Start-upsValentin Preobrazhensky said during his opening speech of the 6th BEF, that LATOKEN organizes during the past years:“We expect millions of potential investors to come to the capital markets and with LATOKEN they will get far easier access to existing asset classes, including idea-stage companies and Pre-IPO companies.”One of such Pre-IPO assets that attracted special attention during the forum was USPX, a token representing an economic interest in SpaceX. The space industry projected to grow sharply with a current valuation of $360 billion in 2018 to $1.75 trillion by 2040, according to Satellite Industry Association.Still, for retail investors, there is a limited ability to invest in the space industry. LATOKEN will solve it by launching the token sale of SpaceX economic interest token USPX. The 1st token sale round is scheduled on 31st October. The structure of the token sale is available on LATOKEN IEO Launchpad page.More details on economic interest in SpaceX related token sale to come, still a number of VC funds already expressed their interest. Matthew Le Merle, Chairman Europe at Securitize & Managing Partner at Blockchain Coinvestors, commented about the upcoming sale:“We are fortunate to get this exposure.”During the opening keynote, Matthew informed that investing in VC stage companies give the highest return on investments. Matthew noted:“During the past 25 years Early Stage VC Index for US companies gave the most annual profit – 32%.”According to the latest Cambridge Associates data, this number is even higher – 48%. It well diverse with other asset classes like fixed-income and public equities with only 3% annual return.Libra And State-Owned Digital CurrenciesThe future of global digital currencies and specifically Libra has attracted a great deal of interest during the forum.Matthew expressed during his keynote:“Libra let Pandora out of the box. China and other countries will make their own digital currencies and it is an inevitability that we all soon will work with native digital currency.”In the near future, the world will see the growing popularity of the new class of currencies. In addition to fiat money and already emerged digital currencies, like Bitcoin, new payment and reserve assets will come – digital money of huge corporation or consortium of corporations (for example, Libra) and government-owned digital currencies (digital US Dollar or Chinese yuan).Matthew thinks that there is a great need of private digital currencies like Libra, Gram by Durov’s Telegram or Walmart Coin (Walmart reportedly have just applied for a patent for its coin).Matthew said:“The notion of commonly backed global currency, when the backing is not owned, managed or created by a government, is not a new one. Up until 1970 gold was that backing and Americans closed that window, so you can’t bring your dollar and change it into gold. So in perspective of thousands of years of human civilization last almost 50 years is anomaly.”Moreover, 4 to 5 billions of people in the world live in states where they don’t trust their fiat currencies, because of hyperinflation, devaluation and expropriation. In such countries, people will embrace currencies like Bitcoin or Libra.Oleg Jelezko, Managing Partner at Da Vinci Capital during the round table “Money 2025: Private banks, Central banks or Blockchain Digital Currencies?”, said:“Libra and Gram have the right to become one of the major tokens and top ten digital cryptocurrencies in the world.”Simultaneously with the rising influence of private digital money, government-owned digital currency will come. The most interested in such assets are emerging countries, such as India and China.China was working at least 3 years on the digital yuan. The reason is not only because there are 1.3 billion Chinese people, but because of Belt and Road project and global Chinese trade in Africa, Europe, Latin America, and Asia.Matthew said:“Chinese digital yuan becomes de facto preferred way to transact and settle in all the sphere of Chinese influence.”In perspective, governments can even unite to make their own digital money. Marc Pilkington, Associate Professor of Economics at the University of Burgundy, said:“I believe that the world needs some kind of supranational currency, that will be issued by a consortium of central banks.”Governance and Monetary Policy for Blockchain IndustryAt the 2nd day of LATOKEN BEF one of the hottest discussions was during the round table “Governance and Monetary policy for the Decentralized Financial System”.Switzerland and Liechtenstein were recognized by panelists as countries with the most progressive legal approach in terms of regulatory and monetary policy towards the crypto sphere. Both countries worked to improve their cryptocurrency regulations to favor STOs (Security Token Offering).Speaking about Asia, China bans ICO for businesses and private investors and People’s Bank of China will issue its own digital Chinese yuan. South Korea made strict limitations on crypto turnover and ICOs, plus issued strict rules for exchanges. In Japan Bitcoin is legal, however, the activity of exchanges is still limited and no ICOs are allowed.In Europe, Germany for example already approved two STOs. And the position of german regulator BaFin is that the risk of participating in ICO are upon investors and ICOs are out of its scope. France, as well as Germany, is very negative on Libra. In the UK, its regulator FCA position is that it cannot regulate crypto directly. Still, the British High Court already recognized Bitcoin as property.About Blockchain Economic ForumBlockchain Economic Forum in London becomes the 6th event of LATOKEN. It was attended by representatives of VC/Crypto funds with total assets under management (AUM) over $5 billion.Besides already mentioned speakers among top participants were Jin W Jeong, Managing Director at Apis Partners ($787m. AUM), Stephen Kelso, Head of Galaxy Digital Europe ($460m. AUM), Ismail Malik, Founder and CEO of Blockchain Lab, Magda Posluszny, Venture Capital Investor at Speedinvest ($220m. AUM), Dermot O’Riordan, Managing Partner at The Reserve Ventures, Alexander Suhobokov, Head of Fintech at Dukascopy Bank.Internationally well-known people, ex-presidents and finance ministers, multi-billion-dollar VC funds, top fintech founders and CEOs regularly visit Blockchain Economic Forum to discuss the transition of capital markets and payment systems to the blockchain. Previously LATOKEN organized BEF in US (2019), Davos (2019), San Francisco (2018), Singapore (2018) and New York (2017).LATOKEN BEF In London: Token Sale Of Economic Interest In SpaceX Is Coming

Ripple’s Marcus Treacher: Libra Is a “Closed System”

Facebook’s Libra is getting some criticism from an unlikely source: Ripple’s Marcus Treacher.
Treacher: Libra’s Got to Open Up a Bit
Treacher is the company’s senior vice president of customer success. According to an interview he did with CNBC his primary complain is that Libra will be a “closed system” or a “walled garden” as he calls it.
This basically means that Libra will be largely controlled by a team of executives. The power will not be in the hands of the people who use it, but in those who have developed it. In other words, Libra will be centralized.
This is interesting coming from Treacher considering he works for a crypto venture that many enthusiasts, users and analysts alike refer to as centralized itself. At press time, many of Ripple’s XRP units (upwards of 50 percent or more) are still in the hands of Ripple executives, meaning that they are not available to the public. Those at the top remain in charge of the cryptocurrency and serve as the primary owners.
This goes against the main notion of cryptocurrency considering that it is designed to give the general public access to better financial tools and control over their money. This rule applies to bitcoin, Ethereum and several other digital assets, but Ripple is left out of the “decentralized circle.”
Treacher still rushed to defend Ripple’s present business model, claiming:
It’s a network, but it has no perimeter. It connects with all of the players that want to use the technology.
In the end, Treacher is confident this system will get in Libra’s way, and as we can see, problems are already stirring the pot. Very few people, for example, trust Libra’s parent company following the Cambridge Analytica scandal that made headlines in early 2018. Even more disturbing is the idea that less than three percent of social media users say they would willingly use the digital coin.
Lastly, the U.S. Congress has been particularly harsh towards Libra, grilling lead developer David Marcus and questioning whether the company could really keep people’s financial data safe.
Bakkt Didn’t Do Anything; Why Will Libra?
This isn’t to say, however, that Treacher isn’t confident in Libra’s potential. He comments that it could still be a “good thing” given that a “Silicon Angle giant” is moving into the crypto space. He believes that the company could potentially do a lot to legitimize digital currency once and for all, though in many ways, this is also questionable.
It was argued by several analysts and industry experts that the new ICE platform Bakkt, designed to bring institutional players closer to crypto, would ultimately legitimize the space. At press time, however, it’s being blamed for bitcoin’s sudden price crash in that it failed to garner any serious attention after “opening for business.”
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Hut 8 Finds New Ways of Offering Crypto to Customers

Hut 8 is a company that claims to be a new kind of mining firm. As bitcoin’s price crashes this week, some have taken notice of the increased hash rate in the bitcoin mining arena, and some are very curious how new companies are looking to extract new coins.
Hut 8: New Ways to Access Coins
According to Andrew Kiguel, the CEO of Hut 8, the company’s name is taken from a project led by Alan Turing, a British mathematician who broke the Nazis’ enigma code during WWII. In a recent interview, he describes his company’s mining model:
As a public company, Hut 8 strives to be a low-cost producer of bitcoin and maintain an inventory of bitcoin for appreciation. Most competitors are private and not accessible to investors. The public ones do not hold an inventory of bitcoin. Thus, they do not provide exposure to bitcoin over the long term… Hut 8 operates at approximately 963 peta hashes per second. The amount we mine is dependent on the competition as the amount of bitcoin produced daily is relatively fixed. At current rates, Hut 8 represents over one percent of the overall market.
One of the major advantages of the company, he explains, is that Hut 8 provides access to BTC without forcing individuals to purchase the coin. Instead, they can purchase stock options in the company. He comments that many people are interested in purchasing bitcoin, but either never follow through or give up halfway through the process.
As it stands, in order to purchase bitcoin, one must give private data to an exchange or to an offshore financial institution, and he says that most people just aren’t comfortable with that yet.
He says that for the most part, this model has served the company well, and Hut 8 is garnering interest from several institutional players:
We have had interest from around the world for having a high-profile investor group, board of directors and being one of the largest bitcoin miners in the world. Investors that are interested in investing in bitcoin but require a publicly listed entity to do so find Hut 8 to be compelling.
Change Is on the Horizon
In the long run, the crypto world is adapting quickly. Many people are interested in holding coins but are looking for new ways of gaining access to them. The venture, he says, is working every day to come up with creative ways of assisting its clients and satisfying their “crypto needs:”
Bitcoin is evolving quickly. The most significant issues surrounding bitcoin investment – security and regulation – are being resolved. Fidelity, Goldman Sachs (via Bitgo), and most recently NYSE, Microsoft and Starbucks (via Bakkt) have started offering institutional custodial services for bitcoin… At Hut 8, we believe bitcoin represents the future of digital money and the best form of money available today.
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The Bitcoin Price: A Week in Review

At press time, the number one cryptocurrency by market cap – bitcoin – has fallen below the $8,000 mark yet again and is currently trading at approximately $7,950.
Bitcoin: It’s Ugliest Week in a Long Time
The currency has had a rather ugly week, falling by more than 22 percent in just a matter of days. The trouble started last Wednesday when the currency dropped from the mid-$9,000 range to about $8,100 in just a matter of minutes. From there, the currency struggled to pick itself back up, rising to $8,600 by the middle of the day but then falling back down to $8,300 less than 24 hours later.
Since then, the currency has shown resistance to spiking beyond $8,100 and is now hovering near a new low.
As with every drop, analysts are coming in with cases of the old gloom and doom at their heels, with one source claiming that bitcoin could fall into the $5,000 range over the coming months. If this mark is hit, bitcoin will then drop into the $2,000 range.
Data like this needs to be taken with a grain of salt. For one thing, technical charts are not always correct, and second, it seems unlikely that the currency would drop that heavily in such a short period of time – especially when it’s been revamping itself since April.
However, we can’t ever forget the dilemma that stirred in 2018, arguably the worst year for bitcoin. After reaching an all-time high of nearly $20,000 by the end of 2017, the following year was consistently marred with drops in BTC’s price – drops that ultimately took it into the mid-$3,000 range by Thanksgiving. The number one cryptocurrency ultimately lost more than $7,000 of its overall value in roughly 11 months but recovered somewhat five months later and eventually rose into the $13,000 range in the summer.
What we must keep in mind is that it took nearly a year for bitcoin to drop that much during its first low-end cycle. The idea that bitcoin could fall into the $2,000 range by the time we’re ready to say good-bye to 2019 seems a little far-fetched. As we’ve learned, anything is possible in the crypto world, but it does seem outlandish that such a massive drop would occur in just three months or less.
Did Bakkt Really Do This?
What’s the reason for the major drop this week? Many industry experts are blaming Bakkt, the new crypto trading platform brought on by the Intercontinental Exchange (ICE). Many believe that the crypto industry isn’t ready for such a regulated platform yet, while others say that the hype and hoopla surrounding Bakkt ultimately died down since it was first introduced in late 2018.
Either way, the venture is now available to institutional traders, and many are hoping for bitcoin to jump back on its feet.
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Don’t You Worry Google, Huawei Is Just Fine

Coinspeaker Don’t You Worry Google, Huawei Is Just FineEven though it’s world known fact that Apple products are “made in USA” but assembled in China – it didn’t stop US President Donald Trump to impose sanctions to Chinese companies (every and each one of them) including the 34% year-on-year growth and 14% of market share company – Huawei.The year 2019 has not been a good one for Huawei. Everything started with the US accusations of Huawei spying on US corporations. Trump administration then decided to launch a “one-two punch” combo in its fight to ensure that national security is not compromised in US telecoms infrastructure.By putting Huawei on a government blacklist, the US has effectively cut off “Huawei’s oxygen supply” by limiting its access to some hardware and software from American companies.Let’s not forget that 2018, Huawei’s CFO Meng Wanzhou, was arrested on accusations of violating US trade sanctions on Iran, and is still fighting about possible extradition to the US.In May this year, Huawei was added to the US government’s “Entity List”, that is forbidding US companies to have any business with it claiming that Huawei uses its products to spy on its users, including business institutions as well.What were the repercussions? Huawei lost access to Google’s Android ecosystem – the base of all known to the android user.However, their latest Mate 30 Series were shipped with Android operating system that is open-source but, without some key apps as Play Store, Gmail, Gmaps etc. Be it as it may, these repercussions are affecting mostly European (and American) users. And they are a minority because the majority of Huawei users are in China where Google doesn’t have wide acceptance at all.The Chinese market for smartphones is huge. As per Canalys’ data, the Chinese market accounted for 396 million units sold, and that single market alone accounted for a little under 30 percent of the total of 1.4 billion smartphones shipped globally in 2018.The CEO of Huawei’s consumer business division Richard Yu unveiled its in-house developed, Android-rivaling Harmony OS to great heights and acceptance by Chinese users. He explained Huawei’s modular and more-secure-than-Android Harmony OS is capable of powering a multitude of devices from the smallest wearables and smart home widgets all the way up to automobile infotainment systems and, of course, smartphones.However, he stressed out that Huawei would still like to work with Android, given the two companies’ long working relationship.Be it as it may, the truth is that Huawei, like most of every and each Chinese company, doesn’t need the rest of the world to succeed. At the end of 2018, China had over 700 million smartphone users, and that’s just over half of its 1.4 billion population.We already reported how Robert Strayer, deputy assistant secretary of state for cyber and international communications and information policy said US President Donald Trump would not relax the ban on Huawei Technologies in exchange for a better trade deal with China. However, most of the companies actually want to collaborate with Huawei and it is obviously not something a person (not even Trump) can obstruct.It is an opinion that if Huawei even somehow (and it will) employ apps as are Facebook, YouTube or Instagram it will show that America is not a king of the castle anymore and that its time of ruling everyone might have come to end.Don’t You Worry Google, Huawei Is Just Fine

The Hard Week That’s Been Hitting Litecoin

Litecoin, the sixth-largest cryptocurrency by market cap, has had something of a rough week, and is experiencing up-and-down behavior like nobody’s business.
Litecoin Is Attached to Bitcoin’s Hip
To be fair, Litecoin isn’t alone in its present dilemma. Bitcoin, for example, is currently trading in the $8,100 range – roughly $2,000 less than where it was when last week ended. Ethereum is also down for the count, trading at around $168 at press time from last week’s “high” of $190.
Litecoin, however, seems to be getting hit harder. According to Joe DiPasquale, the CEO of crypto hedge fund Bit Bull Capital:
Litecoin has been under pressure since the halving of the block reward failed to boost price and it wasn’t helped by concerns surrounding funding for future development. The current price drop is simply the result of these fundamental issues and the fact that Litecoin closely follows bitcoin.
In the long run, bitcoin and Litecoin seem to share a very “unique” relationship, to say the least. Whenever bitcoin goes up, so does Litecoin. If bitcoin falls, Litecoin is sure to follow. The two seem to be tied together and work together regardless of what other cryptocurrencies might do. Thus, as it stands, since bitcoin is traversing through the doldrums, Litecoin is “duty bound” to engage in the same behavior.
Akbar Thobhani, the CEO and founder of SFOX, believes that the halving of last month likely has the most to do with Litecoin’s present dilemma. He comments:
Halvenings of any major cryptocurrency, historically, have correlated with increased volatility as traders are uncertain about the effect that the change in the rate of new coin supply will have on the coin’s price. SFOX previously suggested that the Litecoin halving could correspond with more LTC volatility, and we appear to be observing that trend. As with any asset class, lasting value comes from fundamentals such as number of users and transactions, and these are the metrics to watch as Litecoin and other cryptocurrencies continue to grow.
At the same time, the currency has shown a relatively active level of resilience, and at press time, Litecoin has jumped up by roughly three percent in the last 24 hours, spiking from its new low of $54 to about $55 at press time.
Moving Up, Moving Down
Unfortunately, what’s not great is that the currency was hitting highs of roughly $145 during the summer of 2019, and just last week, was trading in the $70 range, which is still considerably better than its present position. Still, though, its market cap has reached an impressive $4.6 billion and it’s one of the few top ten cryptocurrencies that have expanded in price during this time.
That’s not to say, however, that there’s not a lot of catching up to do (the same can be said for many coins).
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Ethereum Fight Surrounding Prog Pow, NVIDIA Expands

Is Ethereum all it claims to be, or is there something ugly brewing underneath the surface?
Ethereum: the Fight Wages On
Many Ethereum miners are being accused of harassment following a dispute involving NVIDIA, which several critics claim is trying to “undermine” the Ethereum network. Some believe that the accusations floating about are valid and should be looked at, while others say Ethereum is the victim of a potential scheme that’s trying to knock it aside.
Prog Pow is an upgrade that exists on the Ethereum network that potentially boosts demands for cheap GPU mining products. Many are accusing NVIDIA of influencing this update to try and increase business for itself. The company sells the kinds of chips that are likely to become ideal for miners granted the update goes through, and many believe that NVIDIA is working to create some sort of monopoly in the mining space.
Kristy-Leigh Minehan, the primary executive behind the Prog Pow update and the former CTO of Core Scientific, denies these accusations. Considering she was disinvited from a speaking event due to her purported ties to Craig Wright – the Australian bitcoin developer who was recently ordered to hand over $9 billion in bitcoin units to the family of Dave Kleiman – some are not likely to take her word seriously.
In addition, Minehan has seemingly resigned from her post with Core Scientific, which many critics see as a “guilty maneuver” of sorts. The company allegedly shares ties with NVIDIA, which some believe leads to a conflict of interest.
Ameen Soleimani, CEO of crypto adult entertainment platform Spank Chain, believes that Core Scientific has a lot to do with the situation. They’re just refusing to disclose the details. Soleimani says:
[It] seems likely that Prog Pow is a Trojan horse for Core Scientific to take advantage of hardware they already have setup, which means it could be even worse in terms of centralization than not doing it.
One of the primary conspiracy theories meandering throughout the space involves Core Scientific’s alleged ties to Calvin Ayre, a billionaire and gambling mogul who backs bitcoin SV, the “brainchild” of Craig Wright and the resulting coin of the late 2018 bitcoin cash hard fork. Some state that Ayre is secretly pulling the strings of the operation.
Some have also looked at Minehan’s connection with the failed mining venture Mineority, which allegedly promised its miners huge returns that never came about. In addition, the company was hit with several customer complaints that were reportedly never dealt with.
We Didn’t Do Anything…
Minehan denies that Mineority was involved in any wrongdoing, saying:
You have all these people saying they worked for Mineority or were proper legal employees but won’t be able to show employment. They refused to be employees… They never wanted to sign a contract.
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