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Will Decentralized Crypto Exchange of Binance Change the Landscape of Digital Asset Trading?

One of the giants of the cryptocurrency exchange game has given users a sneak peak at their latest offering. Binance CEO, Changpeng, Zhao presented a very rough version of the platform’s new decentralised exchange earlier today. Binance DEX is Ahead of Schedule in Terms of Development In a video posted to Twitter today, Changpeng Zhao, or CZ as he prefers to go by, spoke about the latest developments being made towards launching a Binance decentralised exchange, or DEX. The CEO was careful to stress that this was a “casual, pre-alpha demo” and that it would be wrong to expect too much at this early stage of the DEX’s evolution. A first (rough, pre-alpha) demo of the Binance Decentralized Exchange (DEX), showing issuing, listing and trading of tokens. All cli based, no GUI yet. A small step for #BinanceChain, a big step for #binance. https://t.co/2aXkR0gclP — CZ (not giving crypto away) (@cz_binance) August 9, 2018 That said, CZ was pleased to announce that the project was ahead of schedule. The CEO had only thought that such a raw demonstration would be available for the product a few months further down the line. A decentralised exchange allows users to trade digital assets without a trusted, central intermediary. For many, such products represent the next evolution towards a fully decentralised crypto economy. Decentralised exchanges hope to address the inherent irony of being forced to use centralised platforms such as Binance, Coinbase, or Bittrex to trade between various digital assets that were created to take advantage of the robust security qualities of decentralised systems. The Binance DEX is being created on the company’s own blockchain – the Binance chain. Using this chain, it will soon be possible for average users to create, list, and trade all manner of digital tokens amongst themselves. All this will be possible without the need of a middleman or custodian. After a quick introduction, CZ gives the spotlight over to his team to demo the early stage decentralised exchange. They highlight the functions possible already on the product – creation of tokens, listing of tokens, and exchanging of tokens. At this stage of the project’s development, it’s only possible to interact with the exchange through a command-line interface. Of course, a GUI is planned in the future. In concluding the work completed on the project so far, CZ states that there is still much to be done. However, he does cite the progress made as a “major milestone for the Binance chain” before going on to affirm that his “team is working on it very aggressively.” Beneath the Twitter thread posted above, one observer asked what the future held for the current Binance exchange platform after the launch of the DEX. CZ answered simply: “We will let the market decide. I expect they will co-exist for some time.” In the very short time that Binance has existed, the team has accomplished a great deal. They’ve managed to take the platform from ICO to being the largest cryptocurrency exchange by volume in less than 12 months. The year has also seen the exchange relocate their offices to the crypto-friendly European nation of Malta, as well as launching a new fee system to benefit high volume users. Featured Image From Shutterstock The post Will Decentralized Crypto Exchange of Binance Change the Landscape of Digital Asset Trading? appeared first on NewsBTC.

Ethereum Price Analysis: ETH/USD Consolidating Below $370

Key Highlights ETH price started a minor upside correction and traded above the $362 level against the US Dollar. There is a key contracting triangle forming with support near $356 on the hourly chart of ETH/USD (data feed via Kraken). The pair has to stay above the $356 and $352 support levels to move past $368 and $370 resistances. Ethereum price started a consolidation against the US Dollar and bitcoin. ETH/USD must break the $370 resistance to test the next hurdle at $379. Ethereum Price Resistances After trading as low as $347.72, ETH price started a minor upside move against the US Dollar. The ETH/USD pair moved a few points above the $355 level and also cleared the $362 resistance. There was also a break above the 23.6% Fib retracement level of the last key drop from the $410 high to $348 swing low. However, the upside move faced sellers near the $370-371 resistance zone. The price moved down once again and is currently trading near the $360 level. On the downside, there is a decent support near the $355 level. More importantly, there is a key contracting triangle forming with support near $356 on the hourly chart of ETH/USD. As long as the price is above the channel support, it could make an attempt to move past the $368 and $370 resistance. Above $370-371, the price will most likely test the next hurdle near $379 and the 100 hourly simple moving average. It also represents the 50% Fib retracement level of the last key drop from the $410 high to $348 swing low. Looking at the chart, ETH price is trading in a range between $352-370. It could make the next move either above $370 or below $352 in the near term. Below $352, the next major support is visible near the $342-343 zone. Hourly MACD – The MACD is about to move back in the bearish zone. Hourly RSI – The RSI is moving lower and is currently below 50. Major Support Level – $352 Major Resistance Level – $370 The post Ethereum Price Analysis: ETH/USD Consolidating Below $370 appeared first on NewsBTC.

Bitcoin (BTC) Price Watch: Downtrend Continuation or Reversal?

Bitcoin Price Key Highlights Bitcoin price continues to trend lower as it hit a roadblock at the top of its descending channel. Price could be setting its sights back on the support from here and the Fib extension tool shows the next support zones. Technical indicators also signal that a continuation of the selloff is likely in order. Bitcoin price hit resistance at the top of its descending channel and a continuation of the downtrend could ensue from here. Technical Indicators Signals The 100 SMA is below the longer-term 200 SMA to confirm that the path of least resistance is to the downside. In other words, the selloff is more likely to resume than to reverse. The 100 SMA is also near the top of the descending channel to add to its strength as a ceiling in the event of another pop higher. RSI is also on the move down so bitcoin price could follow suit until it hits oversold levels. Similarly stochastic is heading lower to also indicate that bearish pressure is present. This might be enough to take bitcoin to the next support zones marked by the Fibonacci extension tool. The 38.2% extension is around the mid-channel area of interest at $6,250 while the 50% level is just close by at $6,125. The 61.8% level lines up with the $6,000 major psychological level while the 78.6% extension is closer to the channel support and longer-term lows at $5,800. The full extension is at $5,626.0. BTCUSD Chart from TradingView Bitcoin price made a bit of a bounce in the past 24 hours but this seemed to be a mere pullback from the slide that went on for the most part of the week. Although there have been a handful of positive developments, the current sentiment in the markets has made traders more sensitive to negative updates. For one, the SEC announced its decision to delay the ruling on the SolidX/VanEck bitcoin ETF application to the end of September, right around the time it releases the decision on other applications it shelved. The post Bitcoin (BTC) Price Watch: Downtrend Continuation or Reversal? appeared first on NewsBTC.

Bitcoin Cash Price Analysis: BCH/USD Upsides Capped Near $620

Key Points Bitcoin cash price attempted a recovery above the $600 level against the US Dollar. There is a short-term ascending channel formed with support at $590 on the hourly chart of the BCH/USD pair (data feed from Kraken). The pair could move higher if it holds the $590 support and breaks the $620 resistance. Bitcoin cash price is consolidating with tiny recoveries against the US Dollar. BCH/USD must break the $620 resistance to recover towards $650. Bitcoin Cash Price Support After trading as low as $656, bitcoin cash price started a minor upside move above $570 against the US Dollar. The BCH/USD pair managed to move above the $580 and $600 resistance levels. It also succeeded in breaking the 23.6% Fib retracement level of the last major drop from the $710 high to $565 low. However, the upside move faced a strong resistance near the $620 level. The price is currently moving lower and is trading below the $600 level. It also broke the 23.6% Fib retracement level of the recent wave from the $565 low to $620 high. On the downside, there is a decent support formed near the $585-590 zone. Moreover, there is a short-term ascending channel formed with support at $590 on the hourly chart of the BCH/USD pair. The pair remains supported on dips near the $590, below which, sellers could gain control. The last low at $565 must hold declines if the price extends declines. If not, the next stop for sellers could be near the $550 level. Looking at the chart, BCH price is showing a few positive signs above $590. However, a proper hourly close above the $620 resistance is needed for more gains. The next resistance above $620 is positioned near the $650 level. Looking at the technical indicators: Hourly MACD – The MACD for BCH/USD is slowly moving in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BCH/USD is dipping below the 50 level. Major Support Level – $590 Major Resistance Level – $620 The post Bitcoin Cash Price Analysis: BCH/USD Upsides Capped Near $620 appeared first on NewsBTC.

Bringing DLT Specialists Together: Who Will Speak at Blockchain & Bitcoin Conference Stockholm?

On September 11, Sweden will host Blockchain & Bitcoin Conference Stockholm organized by Smile-Expo – international coordinator of business events. The conference will introduce various topics regarding blockchain and will drive attention to the most topical problems of the cryptocurrency market today. Key speakers: One of the invited experts is the Member of Swedish Parliament Mathias Sundin who is involved in the Tax Committee and the Finance Committee. The specialist has co-founded a revolutionary technological organization Warp Institute and joined financial company Goobit. At the event, the speaker will analyse the power of decentralized systems, evaluating its long-term strenghts. Head of Digital and Innovation at Landshypotek Bank Merete Salmeling will deliver the presentation, too. She will explain how DLT can be integrated into the real estate, and what advantages it brings. President of Blockchain Alliance Europe Tanja Bivic Plankar will join the conference as well. Being an initial coin offerings expert, she will share knowledge about ICOs, describe recent innovations in the token sale sphere and talk about the regulatory framework. Regulatory and legal challenges coming with innovations will also be discussed by Dr. Guenther Dobrauz-Saldapenna – Partner & Leader PwC Legal Switzerland. The speaker is a lawyer, VC investor, and banking specialist. He provides business consultations and has already written 10 books discovering innovative processes, money and technology. Blockchain & Bitcoin Conference Stockholm is the second crypto event in Sweden carried out by Smile-Expo. The company has already held 40 successful crypto conferences in 25 countries. Use an opportunity to meet leading DLT specialists, ask questions and learn new topical information about the blockchain industry at first hand at the conference! Details of the event and registration are available on the official website of Blockchain & Bitcoin Conference Stockholm. This is a sponsored press release and does not necessarily reflect the opinions or views held by any employees of NullTX. This is not investment, trading, or gambling advice. Always conduct your own independent research.

Litecoin (LTC) Technical Analysis: Time To Make Litecoin Mainstream

Fortunately for traders and Litecoin enthusiasts, this deep bear market might be a good time for adoption according to Charlie Lee. Of course, since time immemorial, mass adoption of any product-centralized or otherwise attracts value and Litecoin is no exception. In the meantime though, Litecoin as well as most coins in the top 10 are registering double digit losses as sellers search for new 2018 lows. From the News After realizing the destruction trail following their decision postponement of VanEck and SolidX Bitcoin ETF, the US Securities and Exchange Commission (SEC) is now carrying out a public opinion. Of course, as an unregulated market, the SEC is there to protect the uneducated investor who more often than not bears the full brunt of the market. Steve Wozniak, the co-founder of Apple is keen on meeting and interacting with big players in the blockchain community in the upcoming Crypto Invest Summit scheduled for Oct 23, 2018. Through an announcement, Steve said he was keen on challenging leading blockchain leaders to come up with innovative products that will not only bring utility but value for their users. More than 5,000 attendees are expected at the Los Angeles Convention Center. Other noteworthy speakers at the summit include former NASDAQ chairman David Weild IV, Ran Neu-Ner of CNBC and of course Tim Draper who will be signing off his books and holding a fire chat. As bears fatten up, Charlie Lee advised that this is the best time for adoption. He went ahead and pitched Lite.im which allows users to send and receive Litecoin at Telegram. Lite.im works through an SMS and lets anyone anywhere in the world not only to send and receive fund via Litecoin but they can check incoming addresses and Litecoin balances. A bear market is the best time for people to work on adoption. Check out https://t.co/Ua8LQz9f4h. Send and recieve LTC on telegram. Eventually, it will support SMS also. Great work @ztxrepublic team! We build it and they will come. Adoption is key! — Charlie Lee [LTC] (@SatoshiLite) August 9, 2018 Technical Analysis Weekly Chart Litecoin Weekly Chart by Trading View As it is, Litecoin prices are now trading at 2018 lows but that’s not what is conspicuous. From the weekly chart, we can see that prices did drop below Q1 2018 lows via a high volume bear break below by week ending June 10. The same pattern is playing out this week and unless something drastic comes through, this week will end up bearish with sellers getting ahead of bulls breaking and closing below Q2 2018 as they register new 2018 lows. These two, same style break below key support zone indicates how strong this bear momentum is. If anything, we can check simple metrics and note that Litecoin is down 85 percent from 2017 ATHs and likely to drain more value in coming days. Now, because of this clear lower lows and important close below $70, we recommend shorting with first targets at $50 and later $30. The only time this sell projection would be null is once we see buyers thrusting above $90 and $110. If not, selling on every high in lower time frames seem like a nice plan. Daily chart Litecoin Daily Chart by Trading View The path of least resistance has been ascertained. Since bears are in charge, then we must trade with the trend acknowledging that bear break out pattern of June 10 and the consequent break below our $20 trade range at $70. In line with our previous Litecoin (LTC) technical analysis, we suggest selling on pull backs retesting $70 with stops at $70 and first targets at $50. Disclaimer: Views and opinions expressed are those of the author and aren’t investment advice. Trading of any form involves risk and so do your due diligence before making a trading decision. The post Litecoin (LTC) Technical Analysis: Time To Make Litecoin Mainstream appeared first on NewsBTC.

Thanks to This Wallet, Bitcoin is More Anonymous

Newbies to cryptocurrencies falsely believe that bitcoin transactions are anonymous. But bitcoin isn’t as private as you’d think. Prying eyes can discover who you are if they can trace your bitcoin address to identifiable personal information. Think know-your-customer (KYC) rules that govern most trading exchanges. Stratis Platform (CRYPTO: STRAT) is working to improve confidentiality. The blockchain venture has just released a mainnet version of Breeze Wallet with Breeze Privacy Protocol. The tech improves privacy and security for people or organizations that prefer confidential transactions on the bitcoin blockchain. “The original vision of bitcoin is a secure, peer-to-peer digital currency that allows people to transact directly, without third parties,” says Chris Trew, CEO of Stratis Platform. “It’s achieved this vision but what early supporters didn’t always realize is how public those transactions are.” Distributed ledgers are inherently public. And consensus protocols grant information access to many validators of transactions. Which creates a compelling obstacle when doing business. The updated version of the Breeze Wallet provides privacy and security in a decentralized and trustless manner that is also resistant to network disruption. It’s a differentiated approach given that other blockchain projects have often relied on centralized services to achieve confidentiality. “The Breeze Wallet with Breeze Privacy Protocol remains true to bitcoin’s early spirit and has been specifically designed with business-to-business payments in mind,” says Trew. “This release brings bitcoin up to a level of decentralized privacy that organizations already enjoy today from centralized private banking arrangements.” ‘Centralized banking’ is a dirty phrase for believers of blockchain. According to a Stratis spokesperson, the Breeze Privacy Protocol makes it possible to obfuscate transactions made on the bitcoin blockchain, and that makes it possible for individuals or organizations to conduct confidential on-chain business. Here’s an example use-case. A company can make payments to a supplier or receive payments from a customer without giving information access to prying eyes. The process is user-friendly, trustless, and decentralized and it works across the bitcoin network. Moreover, it allows normal transactions in both Stratis and bitcoin. When given sensitive data, outside parties (and potential bad actors) can snoop around and ask a ton of questions they have no business getting answers to: Where did the transaction take place? Who received what amounts? What are they buying and selling? Why are they selling such and such? Anonymity accomplishes it all. This is a sponsored press release and does not necessarily reflect the opinions or views held by any employees of NullTX. This is not investment, trading, or gambling advice. Always conduct your own independent research.

Bitcoin Cash Lead Developer Banned From BCH Slack Channel

Bitcoin Cash lead creator Amaury Séchet has reportedly been expelled from the cryptocurrency’s Slack community following a dispute over his proposal to reduce transaction times using the “pre-consensus” framework. Prominent Bitcoin Cash promoter Roger Ver broke the news on a Reddit thread that attracted more than 800 comments. “Benevolent Dictator” of Bitcoin Cash Having been with The post Bitcoin Cash Lead Developer Banned From BCH Slack Channel appeared first on CCN

5,000 Merchants Can Now Accept Cryptocurrency Payments in Chile

Chilean cryptocurrency exchange Crypto MKT has recently announced that the country’s citizens can now buy products and services with cryptocurrency from over 5,000 merchants through a new integration with a crypto payment processor. According to the announcement, a partnership between Crypto MKT and online payments platform Flow.cl allowed the merchants to add cryptocurrency payment options The post 5,000 Merchants Can Now Accept Cryptocurrency Payments in Chile appeared first on CCN

Litecoin, EOS, Stellar Lumens, Tron, IOTA Technical Analysis: Altcoins Stabilize and Likely to Retest Recent Break out Levels

Though altcoins are finding reprieve following rapid depreciation mid this week, the fact that most are trading at new 2018 lows as IOTA, Litecoin while some as EOS and Stellar Lumens are retesting important support line means the market might add to their losses in coming days/weeks. However, there are potential upsides especially if the SEC comes up with favorable decision on VanEck SolidX Bitcoin ETF–the reason behind recent market fracture. EOS Technical Analysis EOS Daily Chart by Trading View Two days of high volume, high trade range trading days saw EOS prices plummet below our intermittent support and sell trigger line on Aug 7 and 8. On a weekly basis, that was a 22 percent decline in prices and as expected, confirmation of such events are not usually accompanied by high volumes or trading ranges. In fact prices tend to retract and slip back into a consolidation with confinement of price within break out high lows. That was nearly the case yesterday as we could see a slowdown. In any case, our EOS trade plan is intact and we recommend selling EOS on pull backs with ideal upper limit of stops at $7. First targets are 2018 lows at $4 and any depreciation below that could see $3 being tested. Litecoin (LTC) Technical Analysis Litecoin Daily Chart by Trading View Coin related news are scarce and as traders digest the last two day losses, Litecoin bears are now trading below $70, our main support line. So, in line with our last Litecoin (LTC) technical analysis, the best approach here is to sell on any pull back retesting $70 with targets as mentioned in our earlier trade plan. Remember, should LTC find any support, appreciate above $70 and into our previous trade range triggering our stops in the process, we shall revert back to neutral. As before, the upper limit at $90 is important for our analysis since should bulls thrust above it then the current bear break out pattern guiding sellers would be nullified. Stellar Lumens (XLM) Technical Analysis Stellar Lumens Daily Chart by Trading View With that down thrust cancelling our Stellar Lumens (XLM) bull projection on Aug 8, odds are we might see XLM trickling down towards 2018 lows in coming days. Though we expect this to happen after XLM prices taper or even retest 22 cents, risk off traders should find selling opportunities with recoveries towards 22 cents and 25 cents, our sell zone. On the other hand, conservatives could find better trading opportunities once there is a break below June and 2018 lows anywhere between 18 cents and 20 cents as stated in our past Stellar Lumens (XLM) trading plan. Either way, ideal XLM bear target is at 15 cents and later 8 cents. Tron (TRX) Technical Analysis From the News Crypto Girls, a SR at the Tron network are now part of HummingPay Technical Analysis Tron Daily Chart by Trading View While it’s clear that TRX sellers are running rampage, the fact that the bear breakout pattern that was initiated on June 10 has been confirmed is not at all helpful for bulls. As a matter of fact, we expect further depreciation and that’s why according to our last TRX trading plan, we suggested locking in some profits and shifting ideal profit targets to Jan 24 lows at$0.000052. It’s miniscule yes but well, TRX was once valued at that level before Q1-3 rapid gains peaking at 10 cents in Q2 this year. IOTA (IOT) Technical Analysis From the News There is a trending post at Reddit on how IOTA’s Curl-P is but a sieve and vulnerable for attacks. I suggest taking a look at it and making your own conclusions—it has been in the IOTA sub-Reddit for sometimes now. Technical Analysis IOTA Daily Chart by Trading View Following the likes of Litecoin, XRP and a host of other high liquid altcoins, IOTA is down 30 percent for the week and trading at new 2018 lows. At current spot rates, we have seen a high volume break below 90 cents confirming that bear break out pattern set rolling on June 12 as IOTA sellers snap back in trend. Now, considering all these factors—including the general crypto sentiment-we recommend shorting on pull backs with stops at Aug 8 highs at 72 cents and first targets at 32 cents. Disclaimer: Views and opinions expressed are those of the author and aren’t investment advice. Trading of any form involves risk and so do your due diligence before making a trading decision. The post Litecoin, EOS, Stellar Lumens, Tron, IOTA Technical Analysis: Altcoins Stabilize and Likely to Retest Recent Break out Levels appeared first on NewsBTC.