Protocol Labs, the company behind Filecoin and other projects, has announced a research grant program worth $5 million initially.
Archives for April 11, 2018
- ADA price is holding a major support at $0.1450 and is trading higher against the US Dollar (tethered).
- There is a short-term breakout pattern forming with resistance near $0.1560 on the hourly chart of the ADA/USD pair (data feed via Bittrex).
- The pair is likely to extend gains above the $0.1560 and $0.1580 resistance levels in the near term.
Cardano price is gaining bullish momentum against the US Dollar and Bitcoin. ADA/USD may continue to rise and it could even break the $0.1580 resistance zone.
Cardano Price Resistance
Recently, we saw a minor downside move below $0.1500 in ADA price against the US Dollar. The price declined from $0.1660 high and tested a major support area at $0.1450 level. Buyers successfully protected further declines below $0.1450 and pushed the price back above $0.1500. There was a close above the stated $0.1500 level and the 100 hourly simple moving average.
During the upside, there was a break above the 38.2% Fib retracement level of the last drop from the $0.1660 high to $0.1443 low. However, the upside move was capped by the $0.1580 resistance area. Moreover, the 61.8% Fib retracement level of the last drop from the $0.1660 high to $0.1443 low also prevented gains. At the moment, there is a short-term breakout pattern forming with resistance near $0.1560 on the hourly chart of the ADA/USD pair. The pair may soon make the next move and trade either above $0.1560 or below $0.1520.
On the upside, a break above $0.1560 could take the pair above $0.1580. The next resistance on the upside is near the last high at $0.1660. On the flip side, a break below the $0.1520 level would call for a retest of the $0.1450 support zone.
Hourly MACD – The MACD for ADA/USD is currently in the bullish zone.
Hourly RSI – The RSI for ADA/USD is moving higher toward the 60 level.
Major Support Level – $0.1520
Major Resistance Level – $0.1580
Charts courtesy – Trading View
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Cryptocurrency exchanges remain incredibly popular as of right now. Despite falling Bitcoin and altcoin prices, the demand for cryptocurrency isn’t slowing down. Bittrex, a very popular trading platform, recently reopened the platform for new user registrations. A very positive decision after a lengthy period of not accepting new users.
Bittrex is Open for Business
A few months ago, Bittrex made it apparent they were halting new user signups. This decision was met with a lot of understanding, although some negative responses became apparent as well. Given the increasing popularity of cryptocurrency, service providers have to keep close tabs on things. Dealing with a lot of new users also introduces a lot of new problems and concerns.
For Bittrex, it now seems all of these potential risks have been assessed properly. As a result, the company now accepts new user registrations for the foreseeable future. This is a very positive decision most people will be quite happy with. Additionally, the exchange is not just focusing on regular consumers either.
Based on the blog post, it becomes evident Bittrex wants to attract corporations as well. This applies to both supporting corporate accounts and accepting corporate applications. Companies are showing an increasing interest in cryptocurrency as of late. Catering to this new crowd is not easy by any means, but Bittrex is confident they can make a positive impact in this regard.
Various Platform Enhancements
To accommodate the influx of new users, Bittrex has made a lot of changes under the hood. The website feels a lot crisper as of right now, and the trading engine received several minor upgrades. Additionally, security improvements have been introduced as well, which is always a positive sign. CEO Bill Shihara adds the following:
“We’ve spent the past four years building Bittrex on the founding principles of innovation, security and responsibility. Given these principles, pausing new user signups during a period of immense trading volume was not a decision we took lightly, but our responsibility to provide customers with a reliable platform and outstanding customer service, made it the right thing to do. After diligently working to improve our infrastructure and upgrade our website, we’re pleased to announce registration for new users resumed today.”
The identity verification procedures still remain in place. New users will need to go through this process when they register for an account. Adhering to existing KYC rules is a top priority for the trading platform as of right now. All of these new developments will help bolster the cryptocurrency ecosystem as a whole.
As a testament to the hunger for crypto trading, account registrations were temporarily paused due to overwhelming demand;
Thank you for your patience as we work to reopen signups for new users. We’re getting closer to a fix, and we’ll resume new customer registrations as soon as possible.
— Bittrex (@BittrexExchange) April 10, 2018
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Fraud is alarmingly widespread among cryptocurrency investment promoters, according to a report by the Texas State Securities Board. Texas leads the United States in cryptocurrency crackdowns. The board compiled its findings in a report, where it discovered that among 32 crypto investment promoters it had investigated during a four-week period, none were registered to sell securities.
The post Most Cryptocurrency Investment Promoters are Frauds, Says Texan Regulator appeared first on CCN
Alibaba’s Taobao e-commerce site has updated its list of prohibited goods and services on the platform, which now includes those related to cryptos.
European countries sign agreement on blockchain partnership creating the path for an EU wide Digital Single Market to promote the new technology.
European Commission to Create Digital Single Market
Twenty-two EU member states signed a declaration to establish a European blockchain Partnership according to the European Commission website.
The partnership is tasked with allowing member countries to share experience and expertise in the emerging technology in order to create a path for a Digital Single Market that will benefit the private and public sectors. The partnership sees it’s ultimate goal as that of ensuring Europe stays at the forefront of blockchain technology development and implementation.
The website describes blockchain as a technology capable of promoting trust. One that might be used to share information and “record transactions in a verifiable, secure and permanent way.”
As the technology is already being utilized around the world in the financial sector the partnership looks forward to adapting it and integrating it for digital services that will benefit other commercial sectors in the coming years. The statement on the website describes how a European wide Digital Single Market created from the outset to take advantage of the collaborative characteristics inherent to blockchain and its applications will prevent fragmented approaches by single countries.
This approach should allow all members equal input to creating an enabling ecosystem that supports full compliance with EU regulations and that will encourage blockchain based services to succeed across Europe.
Blockchain Technology Will Power Public Services
Commissioner for Digital Economy and Society, Mariya Gabriel, was quoted in the statement about the creation of the partnership,
“In the future, all public services will use blockchain technology. Blockchain is a great opportunity for Europe and Member States to rethink their information systems, to promote user trust and the protection of personal data, to help create new business opportunities and to establish new areas of leadership, benefiting citizens, public services and companies. The Partnership launched today enables Member States to work together with the European Commission to turn the enormous potential of blockchain technology into better services for citizens”.
The European Commission has already invested over 80 million Euros to support the development of blockchain for the benefit of municipal and societal areas. Another 300 million Euros will be set aside to study the technology by 2020. The Commission launched the EU Blockchain Observatory and Forum in February 2018.
The EC invites all members of the EU and European Economic Area to join the partnership. The twenty-two countries already participating include Austria, Belgium, Bulgaria, Czech Republic, Estonia, Finland, France, Germany, Ireland, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Slovakia, Slovenia, Spain, Sweden, and the UK.
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- Ripple price found support near the $0.4750 level and moved higher against the US dollar.
- There is a key bullish trend line forming with support at $0.4850 on the hourly chart of the XRP/USD pair (data source from Kraken).
- The pair may continue to rise towards $0.5000 as long as it is above the $0.4850 support.
Ripple price is slowly moving upwards against the US Dollar and Bitcoin. XRP/USD could gain upside momentum and it may perhaps break the $0.5000 resistance.
Ripple Price Support
Yesterday, there was a downside reaction from well above $0.5000 in Ripple price against the US Dollar. The price declined and tested the $0.4750 support, which acted as a barrier for sellers. A support base was formed above the $0.4750 level and the price started an upside move. It traded above the 23.6% Fib retracement level of the last decline from the $0.5110 high to $0.4740 low.
At the moment, the price is trading nicely above the $0.4800 level and near the 100 hourly simple moving average. However, the 50% Fib retracement level of the last decline from the $0.5110 high to $0.4740 low at $0.4925 is acting as a resistance. A break above the $0.4925 level is needed for a push above the $0.5000 barrier. Above the mentioned $0.5000, the price may continue to rise towards the $0.5100 and $0.5200 levels. On the downside, there is a key bullish trend line forming with support at $0.4850 on the hourly chart of the XRP/USD pair.
The pair remains supported near the trend line at $0.4850. Below the trend line support, the $0.4750 level remains a major buy zone. The overall price action is positive as long as the price is above $0.4800.
Looking at the technical indicators:
Hourly MACD – The MACD for XRP/USD is slightly in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is just around the 50 level.
Major Support Level – $0.4800
Major Resistance Level – $0.5000
Charts courtesy – Trading View
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