Switzerland Takes New Direction in Crypto and Blockchain Regulation

Switzerland Takes New Direction in Crypto and Blockchain Regulation

Switzerland has always paid attention to innovations and technologies and now the country’s Federal Council wants to update to the Swiss legal framework with a view to make it more appropriate for new technologies including blockchain.
The government started its work on blockchain regulations in 2016 when the country’s Federal Department of Finance revealed its intention to regulate fintech.
Recently, the Council has announced that they want to adjust the financial laws that already exist and to focus on such issues as money laundering and financial fraud with the involvement of digital assets.
View of the Government
As it has been revealed, the Swiss Federal Department of Finance created a blockchain/ICO working group whose task was to analyze the Swiss fintech and finance field to determine the needs of this sector from the regulatory point of view. Nevertheless, according to the results of this analysis, no fundamental changes are needed.
Now the Federal Department of Finance and the Federal Department of Justice and Police will work on preparing a consultation draft that should be presented in the first quarter of 2019.
The government expects to see proposed changes to civil, insolvency, financial market, banking, and anti-money laundering laws with a view to ensure a higher level of flexibility that will allow to better satisfy the needs of blockchain/DLT applications.
Comments from the Crypto Valley Association
The Crypto Valley Association (CVA) that was created in January 2017 represents itself a non-profit organization. Its mission is to build a free, open and thriving economy by providing support to the development and wide integration of cryptographic technologies, blockchain, and other emerging technologies. The association helps startups and other tech projects in Switzerland and other countries to fulfill their potential.
According to the statement of Dr. Mattia Rattaggi, who is the Chair of the CVA’s Policy and Regulatory Working Group, the association fully shares the vision of the Federal Council on the crypto and blockchain legal frameworks. Dr.  Rattaggi also highlighted the feasibility of introducing adjustments to the existing legal framework instead of developing absolutely new laws.
He said:
“We feel that this approach best represents the principle of technological neutrality and is in line with the position taken by the CVA in the consultation process. Crucially, this approach ensures maximum consistency within the current legal framework while keeping it principle-based and flexible, while allowing changes to be adopted on a ‘need-to-regulate’ basis.”
As it was added, the country’s regulatory system is already prepared and open for innovations which greatly helps the Crypto Valley association in its work aimed at the creation of a global hub of blockchain technology. The CVA will continue developing its cooperation with the governmental structures to ensure efficient expanding of the Crypto Valley ecosystem.

Switzerland Takes New Direction in Crypto and Blockchain Regulation

True Value of Bitcoin: The Price is not Always the Most Important Factor

The true value of crypto has always come up in debates about the asset’s long-term growth potential. Some argue that if cryptocurrencies were able to function as a store of value, that would instantly give them all the necessary influence and potential to reach the state of mass adoption. A wider group of entrepreneurs however, are starting to believe that the true value of crypto is the ability to create decentralized networks. These networks ultimately lead to new forms of business.
Crypto is unique. Not only because of its revolutionary prospects, but because a new asset class is not created out of thin air. Last year saw the biggest crypto rise yet. This price increase affected everyone from retail investors to institutions and governments. Of course the sky high price was not sustainable, but the true value of crypto was revealed and many investors and institutions began to make long-term plans for it.
This is why this year’s price drop is anything but surprising. The dot com bubble back in 2000, saw NASDAQ fall 72%. Amazon lost 95% from $107 to $5.96 in 1999 to 2001. This important to note not because of the drop similarities, but because of the aftermath ones.
The dot com bubble taught investors that if a company wants to have sustainable value, it must have real utility. A store which sells accessories for pets isn’t the most promising prospect. A simple online bookstore with the option to become the literal “store for everything” is a whole new story.
True value remains unchanged, despite the market’s woes
This is a clear indicator that despite the harsh market conditions, the true value of crypto hasn’t declined at all. The centralized business models of today, will most surely, not the business models of tomorrow. The decentralized model will take some time and a lot of effort, but once it gets working it’s a brand new horizon for investors, businesses and governments.
So the next few years should provide answers when it comes to the development. The most important area, which needs to be worked on as soon as possible by retail is to create a sustainable ecosystem to empower institutional investors.
Participation by institutional investors is widely discussed in the recent months, but it’s going to take a lot of regulations and work to get that going. It’s also extremely important to note that cryptocurrencies are literally the only asset in history, which was not started by the institutional front. This has resulted in an ecosystem brimming with potential, devoid of institutional infrastructure.
2018 has shown that the infrastructure however, is well on its way. Crypto has moved beyond the retail market and ICE, NASDAQ, Microsoft and others have all started initiatives or begun investing. Global regulators are also already setting up all the necessary foundations for a solid entrance from institutional fund managers.
Another key area, which needs advancement is the adoption of decentralized networks on the protocol level. New opportunities, mean new startups. While most of them probably, won’t succeed, the ones that do will be instrumental in gathering larger adoption, thus the true value of crypto will be realized.
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Hash War: The Aftermath and Future of ABC and BSV

The post True Value of Bitcoin: The Price is not Always the Most Important Factor appeared first on CoinStaker | Bitcoin News.

XRP Seems to Be the Top Candidate For the Bull Run in 2019, and Here is Why

XRP Seems to Be the Top Candidate For the Bull Run in 2019, and Here is Why
Relative to its peers in the crypto community, Ripple has weathered the down market of 2018. Sure it’s down almost 90% from its all-time high, but while Ethereum and Bitcoin have dropped more than 50% in the last three months, Ripple’s XRP price almost is exactly where it was. It saw a spike of nearly double that in October though, but it was the only major coin to spike, a sign that the market could be interested in XRP, if only it could “decouple” from its main trading pair with BTC.
However, it’s worth of knowing that not only XRP, but also other cryptocurrencies are being backed by major players in the financial industries, like the managing director and the chairwoman of the International Monetary Fund [IMF], Christine Lagarde, which is a telltale of massive adoption of cryptocurrencies in real-world.
Christine, who once slammed Bitcoin and other cryptocurrencies, now says that with central banks creating their own cryptocurrencies, transactions and transfers will be safer, and this could help stand against cryptocurrencies such as Bitcoin. She voiced out that non-cash payments have been on the rise lately and is now proving to be a challenge to governments and central banks.
Ripple’s infrastructure is designed to make transactions faster and convenient for banks and other financial institutions. It explains why the platform has already seen over 100 institutions adopt its technology and there are more that are joining by the day. The platform’s blockchain, RippleNet, offers businesses and financial institutions different programs that help cross-border payments happen smoothly.
This includes xRapid, a program that allows financial institutions to minimize liquidity cost if they use XRP as a bridge from one fiat currency to another. xCurrent which is a payment processing system for banks. And also xVia which allows businesses to send payments through RippleNet. All three solutions are crucial in enhancing Ripple value.
Ripple’s Partnerships
Using XRP as a bridge currency helps accomplish cross-border payments in a maximum time of 3 to 4 seconds and unlike traditional banks, XRP and Ripple’s technology can be used 24x7x365.
In comparison with other cryptocurrencies, Ripple and XRP make the transfer between any currency, any asset and any commodity possible. With all these partnerships Ripple and XRP, in a tag-team plan to take on the remittance and the cross-border payment industry which is worth $155 trillion in total.
Ripple has now made massive partnerships with major banks and financial institutions around the world, like Israel’s GMT, Turkey’s Akbank, MoneyGram, AmericanExpress, CIBC, Earthport, and many more who have the access to use Ripple’s blockchain technology for cross-border payments and more.
Akbank announced that it was using Ripple’s blockchain technology Ripple Net to transfer the GBP to UK’s Santander, another financial services company. This announcement doesn’t clarify that it is not using XRP as a bridge currency, but it doesn’t mention that it isn’t either.
Lately, we are witnessing the uncertainty around this cryptocurrency. The U.S. Securities and Exchange Commission (SEC) did not provide information on whether XRP is a security or not. However, the SEC has been going behind other ICOs that were accused of selling unregistered securities.
One of the things that are taken into account is the possibility to decentralize Ripple and the XRP network in order for it not to be considered a security. SEC’s William Hinman said that there might be other decentralized networks and systems in which it might not be necessary to regulate the tokens or coins.
Although he was sharing his personal opinion, this is one of the closest things that the market has related to how decentralization plays an important role a the time of evaluating whether a token is a security or not.
Bitcoin (BTC) and Ethereum (ETH) have been described as cryptocurrencies with large communities and many companies working together. Hinman showed that these two cryptos were decentralized. However, Ripple raises some concerns since XRP depends on what Ripple does to a very important extent.
Nonetheless, things are changing. There are other companies such as Omni or Coil, and also some individual developers that are working in order to increase and facilitate XRP payments. Ripple (XRP) has also been added onto a leading travel website Travala.com
Coinbase Taking RippleLabs’ Coin on Their Custodian Services
Coinbase recently announced that it is adding more than 30 assets to its trading list and XRP was one among them. Coinbase has always been known for scrutinizing an asset thoroughly before adding it to their trading lists.
Since that has been thrown out of the window, the cryptocurrency community speculates that it could be due to the bear market wiping off more than 80% of Coinbase’s trading volume since its all-time high in 2018, which was reported by Diar in a research.
Ripple (XRP) used to be the cryptocurrency that was considered an outcast in the crypto community. There is a reason Ripple (XRP) did not end up on Coinbase even though it is an older cryptocurrency than Ethereum (ETH). The crypto community back then was very anti Ripple (XRP) in its early days because of what it stood for. Before 2017, the crypto community mostly comprised of tech geeks who had heard early about Bitcoin (BTC).
Most of them were either developers, miners or early adopters who believed in what Bitcoin (BTC) stood for. This is why most of them first flocked to Bitcoin (BTC) and then Litecoin (LTC) when they realized that Litecoin (LTC) could solve some of Bitcoin (BTC)’s issues that might lead to future adoption for Litecoin (LTC). However, Ripple (XRP) was ignored for the most part during that phase.
Building Trust and Regulatory Clarity in Blockchain and Digital Assets
SVP of Global Operations at Ripple Eric van Miltenburg said in his official announcement that Ripple is an international business by definition.
“We use blockchain technology and digital assets to remove friction from global payments. From the very beginning, we’ve worked within the existing international banking system, as opposed to around it, engaging with regulators worldwide to ensure success for our customers. While we’ve seen exciting regulatory progress over the past year, challenges still lie ahead.”
They’ve held a panel inviting leaders on the front lines of digital asset and blockchain regulation to Ripple HQ. Panelists Kevin Werbach, author and professor at the Wharton School, Valeria Bystrowicz and Sarah Hody, both associates at Perkins Coie, joined Miltenburg for this inaugural Ripple Expert Views event.
The panelists noted that this approach is showing some early signs of success in emerging markets around the world—especially in the ASEAN market.
In this region, millions are gaining access to banking services for the first time through non-banking channels, like mobile wallets. The World Bank estimates East Asian markets received $129 billion in remittance payments last year alone. Further, SMEs are estimated to be responsible for up to 60 percent of employment in the developing world, but that number is thought to be as high as 70 percent in ASEAN countries.
To learn more about XRP coin, Ripple company and their innovative solutions, please check out our awesome guide.
XRP Seems to Be the Top Candidate For the Bull Run in 2019, and Here is Why

Ethereum Price Analysis: ETH Could Turn Super Bullish Above $100

Key Points

Ethereum price finally recovered after forming a base near $81 against the US Dollar.
ETH broke a significant bearish trend line with resistance near $86 on the 4-hours chart (data feed from Coinbase).
The price must break the $97 and $100 resistance levels to stage a solid comeback in the near term.

Ethereum price gained traction above $86 and $90 against the US Dollar. ETH could turn super bullish if there is a close above $97 and $100.
Ethereum Price Analysis
After forming a crucial support near the $81 level, Ethereum price started an upward move against the US Dollar. The ETH/USD pair rallied recently and broke the $85, $86 and $90 resistance levels. More importantly, there was a close above $85 and the 55 simple moving average (4-hours). Besides, there was a break above the 23.6% Fib retracement level of the last drop from the $126 high to $82 swing low.
Buyers also cleared a significant bearish trend line with resistance near $86 on the 4-hours chart of ETH/USD. The pair traded above the $95 level and almost tested the crucial $97-98 resistance zone. The price is currently consolidating below $97 and it could correct a few points lower. An initial support is at $90, below which the price may test the $89 zone and the 55 SMA. The $87 level could also act as a solid support since it was a resistance earlier. On the upside, buyers must break the $97 and $100 resistances for further gains. The next stop may be the 50% Fib retracement level of the last drop from the $126 high to $82 swing low at $104.

Looking at the chart, Ethereum price is trading with a positive angle above $90. However, ETH must break the $97 and $100 resistance levels. If not, it could drop back to $87 or $82.
Looking at the technical indicators:
4-hours MACD – The MACD for ETH/USD moved into the bullish zone.
4-hours RSI (Relative Strength Index) – The RSI is just above the 60 level.
Key Support Level – $87
Key Resistance Level – $97
The post Ethereum Price Analysis: ETH Could Turn Super Bullish Above $100 appeared first on Live Bitcoin News.

Ledger Expands Operations to New York City

Ledger Expands Operations to New York City
The company, which also focuses on corporate and individual blockchain applications selected Demetrios Skalkotos to lead the unit for Ledger Vault’s global business. Ledger Vault is a multi-authorization cryptocurrency and self-custody management solution that is designed to secure large volumes of digital assets. It currently is the premier solution for enterprise security with financial institutions.
Skalkotos explained that while Blockchain revolutionizes the financial system, so must the security solutions designed to protect it. He adds that storage of secure multi-cryptocurrency funds is a complicated and challenging issue that simply can not be solved simply through the implementation of new procedures.
Institutions are constantly looking at new ways to provide a safer option for storage that works in conjunction with governance policies but does not interfere with convenience. Skalkotos believes that those that invest in cryptocurrency funds should not be put into a position of compromise and that as a company, Ledger works closely with fund managers and financial institutions providing a reliable governance framework through its secure software. That, in itself, allows investor security and control but doesn’t sacrifice speed or reliability.
One of its key strengths is that the Ledger Vault affords state-of-the-art-security through the integration of a module chip, that makes it one of the crypto-asset protection companies who combined its own custom operating system with a secure chip. This is ideal for investors and those that frequent bookmakers promoted through affiliate sites such as efirbet as state-of-the-art security is incorporated into back-end operations to enhance the on-going security features employed by online betting sites.
The Vault provides the needed infrastructure to businesses to allow them manage and have control over their cryptocurrencies properly. Additionally, it lets asset managers, traditional financial firms and custodians safely trade and store digital assets.
Skalkotos has served in several senior roles with companies that are recognized as international financial services companies. He brings a wealth of experience gained from decades of running global infrastructure and software companies and has extensive knowledge and experience in marketing, sales, and product development. As a result, he has a unique understanding of the industry and is capable of assisting hedge funds, financial institutions, and high-net worth individuals.
The president of Ledger, Pascal Gauthier commented that basing operations in New York City is a perfect fit for the company. Gauthier praised Demetrios Skalkotos for his extensive background in financial and enterprise services, elaborating that he is the right candidate to help Ledger continue its pattern of growth.
About Ledger
Launched in 2014, Ledger was created by a group of professionals holding expertise in crytocurrency and blockchain security. Having the mission of creating world-class solutions for blockchain applications, the company now employs 160 specialists in New York, San Francisco, Vierzon and Paris.
Ledger Expands Operations to New York City

Meet Belgian Popular Investor Catalina Norena Who Knows How To Take Advantage Of Market Volatility

Meet Belgian Popular Investor Catalina Norena Who Knows How To Take Advantage Of Market Volatility
eToro: Please tell us a little bit about yourself.
Catalina Norena: My name is Catalina and I live in Belgium. I started trading 5 years ago as a hobby and decided to join eToro in October, 2017. I became a Popular Investor in January 2018 and have currently become a Rising Star. I would describe myself as  an organized, creative thinker. I like to explore alternative solutions to problems, and l to keep an open mind about what will work best. However, without strong and structured fundamentals, creativity cannot flow. I believe this is perfectly reflected in the way I trade.
eToro: Did you have previous experience with financial investments before joining eToro?
CN: Besides personal trading activities, prior to joining eToro, I also supported a trading team during my university internship (which mainly focused on trading foreign currencies). I have also participated in different trading competitions over the years.
eToro: Why did you choose to join eToro?
CN: I am a very social person and like to interact with people. When I learned about eToro, I was immediately convinced it would be the perfect fit for me.
eToro: What are the three key benefits of using eToro?
CN: First, I like how fresh and user-friendly the platform is. Everything is built up in a clear and straightforward manner. Second, the ability to not only learn from other traders but to effectively copy their portfolios is very innovative. Third, the interactivity of the platform also brings a sense of belonging and community, which I value a lot.
eToro: How has eToro changed the way you trade?
CN: eToro has definitely made it easier for me to trade. I particularly like the ‘One Click Trading’ functionality which, when configured correctly, makes it extremely easy to enter and exit positions.
eToro: What is your type of trading strategy and what is it focused on?
CN: I trade a system based on technical indicators mostly focusing on underlying volatility. I like to use a mid-conservative, trend-following approach. I trade SPX500, VXX and Gold and usually keep my positions open for a couple of days up to a couple of weeks.
eToro: What are the benefits of being a Popular Investor and what is your long-term goal as one?
CN: The exposure you obtain by becoming a Popular Investor encourages you to put more time and dedication into the platform, which in the end makes you become an even better trader. You also learn a lot from the questions and inputs you receive from copiers and followers. It is very important to have a good trading system, but even more important to revise it whenever necessary.
eToro: Do you have any advice for your copiers/users considering copying you?
CN: Don’t be afraid to ask questions. When you’re copying someone, it is of vital importance that you can do that with a full sense of security and confidence. Transparency is key.
eToro: What are your hobbies?
CN: Traveling, reading, art, oil painting and, of course, following the financial markets.
Meet Belgian Popular Investor Catalina Norena Who Knows How To Take Advantage Of Market Volatility

Blockstream Satellites Now Support Lightning Network, Global Expansion on the Way

Blockstream Satellites Now Support Lightning Network, Global Expansion on the Way
In order to attract more users, blockchain companies are continuously improving their services and coming up with new ideas on how to foster mainstream adoption of Bitcoin and blockchain in general. The startup Blockstream, which was initially founded to develop new ways to accelerate innovation in cryptocurrencies, open assets, and smart contracts, has recently made good progress, offering a new update to its Blockstream Satellite project.
On Monday, Blockstream announced an expansion of its satellite service to the Asia-Pacific region. Moreover, the company has also added support for lightning network transactions, allowing users to pay for its service using the “layer 2” scaling solution.

Blockstream expands its Bitcoin satellite service to Asia-Pacifichttps://t.co/JRN0OcLNqN
— The Block (@TheBlock__) December 17, 2018

Earlier, Blockstream Satellite covered North and South America, Europe, and Africa. With the fifth satellite, the company will be able to serve the Asia-Pacific region, the most populous area of the world, and cover all major landmasses in the world except for Greenland and Antarctica.
The update comes with a new messaging feature that allows users to broadcast messages from the satellite and pay for these data transmission with Lightning Network micropayments.
Chris Cook, head of the Blockstream Satellite project, said:
“While satellite communications have traditionally been cost-prohibitive, Blockstream Satellite will finally allow developers to adopt satellite communications in their applications.”
According to Cook, broadcast costs “are very low, which make them more suited to Lightning payments” rather than primary network transactions. He further added:
“The benefits include prevention of network partitioning, the ability to use bitcoin in remote areas where internet connectivity may be limited, and it can also be a way to have a secure, fully synced node for a wallet (as it’s receive-only, [there’s] no risk of getting hacked).”
Blockstream CEO Adam Back believes that supporting Lightning network adds significant benefits to the company’s services:
“Lightning adds privacy due to its use of onion routing, and off-chain netting; and lightning better supports micropayments that are lower transaction cost, faster and more scalable. These are advantages for retail and web API use-cases generally, and help make the satellite data API service efficient and connect in with other bitcoin-related infrastructure.”
Blockstream seems to be on its way to global expansion. As head of the Blockstream Satellite project states, five satellites are just the beginning, there are more to come in the future.
“Four satellites are currently active, with coverage over North and South America, Europe, Africa, and now Asia Pacific. More will be added in the future to complete global coverage.”
Blockstream’s Satellites: the Next Step in Global Bitcoin Infrastructure
Blockstream Satellite was launched in August 2017 to broadcast real-time Bitcoin blockchain data from satellites in space to almost everyone worldwide. At the time, CEO Adam Back said the service was aimed at individuals with limited internet access or who otherwise face issues accessing Bitcoin.
As Adam Back said, “the launch of the Blockstream Satellite API represents the next step in global Bitcoin infrastructure.” He explained:
“For the first time, everyone has open access to a broadcast medium completely external to the internet, bringing reliable message transmission and Bitcoin access to the remotest of locations. With the Asia-Pacific expansion, Blockstream Satellite users are now able to reach over 90% of the world’s population with their messages. All of this is made possible thanks to micropayments enabled by Bitcoin and the Lightning Network.”
Updates to API access for the new services are expected to go live in January of 2019. The team hopes that some more features for the satellites will be added in the future, and shows optimism about the impact that the project may have on the Bitcoin community in the future.
Blockstream Satellites Now Support Lightning Network, Global Expansion on the Way

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

8 Days of Christmas: Coinbase Adds Crypto-to-Crypto Trading
Coinbase said they believe it’s important that they build features that let people take advantage of the unique attributes of cryptocurrency. That’s why they’ve decided to roll out a new feature called Convert, which customers can use to convert one cryptocurrency into another.
“We’ll be gradually rolling out the ability to convert cryptocurrencies to customers in all 34 countries in which Coinbase offers native payment access. We’ll gather customer feedback along the way and continue to iterate on the feature over time. Our product teams are thinking deeply about new ways to democratize the best of cryptocurrency, and the ability to easily convert one asset to another is an important step on this path.”
Coinbase product manager Anna Marie Clifton said that the company is adding support for crypto-to-crypto trading for its retail customers including a feature that has long been available to professional cryptocurrency trading services.
She said that while trading pairs are “a pretty common paradigm in the crypto trading space,” they are not currently being served well to the broader retail audience.
“The functionality is giving customers the ability to directly convert between one cryptocurrency and another, which is pretty advanced. The trading pairs were developed based on user feedback.”
Clifton added that some customers have purchased bitcoin but now want to interact with decentralized applications (dapps), and therefore need to convert their holdings.
She explains:
“I think one of the things that was most surprising was seeing a lot of customers frustrated because they wanted to use the product immediately but it required two trading fees.”
When Coinbase was founded, the only products that connected wallets to the Bitcoin blockchain were technical and complex. They set out to build an easy-to-use, highly secure, and trusted experience for anyone to buy or sell Bitcoin. By focusing on ease of use, and designing for simplicity, they’ve tried to make crypto more accessible to everyone.
“This latest feature that allows customers to convert from one crypto directly into another is a natural progression of this journey.”
Coinbase Convert will support bitcoin trading pairs, with customers able to convert to Bitcoin Cash, Ethereum, Ethereum Classic, Litecoin and 0x. More pairs may be added in future based on customer feedback.
Since Dec. 10, Coinbase has been rolling out new offerings as part of its “12 Days of Coinbase” promotional campaign named in reference to a traditional Christmas song.
We already wrote about how for the 5th day of Christmas, Coinbase decided to greet it’s U.S. customers with the possibility to instantly withdraw Coinbase balances to PayPal, providing even faster access to their funds through one of the world’s easiest and most widely-used payment platforms. These withdrawals are not only fast; they’re free and incur no fees.
PayPal offers U.S. customers an alternative. Before today, you needed an ACH or Federal Wire account to withdraw funds. These traditional finance networks can add up to two business days to a withdrawal.
To get started, simply sign in to Coinbase and link your PayPal account to your Coinbase account. Select your PayPal account as a payment option when withdrawing your cash balance to move your funds instantly.
On Monday, Coinbase also announced that they have changed their traditional listing strategy and adopted a new customer-focused method. The company aims at emulating the stock market in providing many investment options. Dan Romero, Vice President of Coinbase, explained that they are examining several tokens in the market to enhance support for various new crypto assets. The move is significant in contrast to Coinbase’s long known careful approach to supporting individual tokens.
As reported earlier, Coinbase donated $10,000 in ZCash (ZEC) to GiveCrypto.org to help those in need in Venezuela. They also donated an additional $10,000 in Bitcoin (BTC) to help GiveCrypto.org support Syrian refugees in Greece.
Another announcement from the 12 days of Coinbase program is the acceptance of Circle’s USDC stablecoin. Circle is a Boston-based cryptocurrency finance firm that developed a stable cryptocurrency that’s pegged 1:1 to the US dollar (USD).
Coinbase’s professional exchange platform Coinbase Pro is the 20th largest exchange by 24-hour trade volume, according to CoinMarketCap, at $154 million.
8 Days of Christmas: Coinbase Adds Crypto-to-Crypto Trading

Crypto Market Recovers with Tether and EOS Leading the Way

Crypto Market Recovers with Tether and EOS Leading the Way
Stablecoins have been gaining dominance in the crypto market due to the continuous slide-down of other altcoins. In the last few months, a number of stablecoin projects have made an entry in the crypto space. Some of the recently announced stablecoin projects include Gemini Dollar (GUSD), Paxos Standard Token (PAX), and TrueUSD (TUSD).
However, on Monday, the most popular stablecoin Tether (USDT) made its way to the top-five cryptocurrencies by market cap. For a short period of time, Tether occupied the top five spot. At the press time, Tether is at the sixth position with a market cap of $1.8 billion.
Despite being surrounded with controversies in the last few months, Tether’s recent performance is quite notable. Tether lost nearly $700 million of its market cap in the last two months, but manage to hold back off lately.
The growing dominance of the stablecoins in the crypto market shows the market outlook is bleak. Stablecoins are nothing but the digital form of fiat currencies. With the massive drop in the crypto space, investors pull-out their money from other tokens and park it into stablecoins. Out of the overall crypto market cap of $104 billion, stablecoins amount to $2.4 billion. The 2.3 percent dominance in the overall crypto space is significantly higher for stablecoins.
EOS Shoots Up 25% to Grab the Number 4 Spot
In the last 24-hours, EOS has surged over 25% to get the number 4 spot while surging above Stellar Lumens (XLM). The Ethereum challenger (EOS) is now just trailing behind it. At the press time, EOS is trading at a price of $2.47 with its market cap stands at $2.2 billion. The EOS price activity over the last week shows that there a significant confidence developing among investors for the EOS blockchain technology.
EOS has posted the healthiest performance in the top 20 cryptocurrencies by market cap. As such, there’s no specific reason behind yesterday’s price-rise. However, EOS recently conducted a three-week workshop and hackathon in India. Moreover, it EOS Global Hackathon in Cape Town, South Africa, is just coming to the conclusion.
The blockchain-based genomic big data platform GeneOS recently won $500,000 price rewards in the Block.one’s EOS Global Hackathon series.

Team GeneOS were selected as the ultimate winners in our marathon #eoshackathon series at the Grand Finale earlier this month. We caught up with them just after the judges announced their decision. https://t.co/DaZkmkNSof
— Block.one (@block_one_) December 17, 2018

Overall Cryptocurrency Market Gains Some Momentum
In the last two days, the crypto market has shown a much-needed positive price swing. In the last 24-hours Bitcoin (BTC) has surged by nearly 8% to climb above $3500. At the press time, Bitcoin (BTC) is trading for $3536 with its market cap at $61.6 billion.
Along with Bitcoin, other altcoins are showing price surge in the 7-15% range. XRP again reclaims its number two spot on the index leaving Ethereum at the third position. XRP has surged by over 15% while Ethereum has posted 9.5% gains.
Once popular altcoins like Litecoin and Bitcoin Cash have slid down to the seventh and eighth position, respectively. On the other hand projects like EOS and Stellar have shown great development in recent times climbing up the ranks.
It looks like as the crypto market moves towards attaining more maturity, quality projects are getting their due recognition. On the other hand, the ongoing hash war in Bitcoin Cash camp after the hard fork has developed a negative sentiment amongst investors.
Crypto Market Recovers with Tether and EOS Leading the Way

Ethereum Price Analysis: ETH/USD Trends of December 18–24

Ethereum Price Analysis: ETH/USD Trends of December 18–24
Key Highlights:

Ethereum price is consolidating;
ETH price may target $131 price level as its high;
the bearish trend may continue in the ETH market.

ETH/USD Long-term Trend: Bearish
Supply levels: $103, $131, $157
Demand levels: $79, $60, $47ETH remains in its bearish trend on the long-term outlook. The bears still hold tight to the Ethereum market without giving space to the bulls. On November 28, the bulls made an attempt and pushed the coin towards the supply level of $131 but were unable to break out due to the Bears’ pressure. Ethereum price had its low at $79 on December 7. Throughout last week ETH price was consolidating within the range of $103 price level and $79 demand level.
Currently, strong bullish candles are emerging, pushing the ETH price towards the supply level of $103 which is an indication that bulls are gradually gaining momentum. Should the bulls succeed in breaking up the supply level of $103, it will rally to the north and target the strong supply level of $131. In case the bears defend the price level of $103 and the price bounce to break the demand level of $79 downside, Ethereum price will have its low at $60 demand level.
The 50-day EMA remain above the 20-day EMA while the ETH price is below the two EMAs far apart from each other which indicate that the crypto is under a strong bearish pressure. The Relative Strength Index period 14 is at 40 levels parallel to the level without direction indicates that consolidation is ongoing. Traders should be patient and be on the lookout for the breakout to take a position.
ETH/USD Medium-term Trend: Bullish
On the medium-term outlook, ETH/USD is in a bullish trend. The bears lose the pressure on December 15 at the level close to the demand level of $79; this is clearly seen as the inside bar candle pattern formed to reverse the trend on the 4-Hour chart. ETH price rallied to the north broke up the two dynamic support and resistance.
Ethereum price is currently above the 50-day EMA while the 21-day EMA is below making an attempt to cross upside the 50-day EMA which indicates that the bulls are gaining momentum in order to change the trend to an uptrend. However, the Relative Strength Index is above 60 levels bending down indicates sell signal which may be a pullback after which the uptrend may continue.
Ethereum Price Analysis: ETH/USD Trends of December 18–24