XTZ, HEDG, ATOM, MKR, LTC – BTC Ethereum Crypto Currency Blog

The top performers of this week are a mixed bag as many altcoins are overbought but traders will be keeping an eye out for those that appear to be picking up momentum.

After numerous big companies exited Facebook’s Libra project and several regulators voiced their concerns, news about the project had taken a back seat. However, this week, the Libra Association announced that E-commerce giant Shopify had joined the network.

The Libra Foundation said that Shopify, an online marketplace hosting more than one million merchants, would be an “incredible partner in making widespread economic participation a reality.”

Several central banks have said that Libra forced them to consider launching a central bank digital currency (CBDC). While a few nations have initiated pilot projects to experiment with digital currency, others like China have also outlined their plans to launch their own CBDC.

With these developments, the call for the US to launch a digital dollar has been increasing. Recently, former chairman of the Commodity Futures Trading Commission Christopher Giancarlo said that the US Federal Reserve must issue a digital dollar to compete with China’s digital yuan.

Crypto market data weekly view. Source: Coin360

On Feb. 19 Bitcoin (BTC) plunged sharply, which dragged down the entire crypto space. However, a positive is that corrections in Bitcoin price are attracting buyers at lower levels instead of leading investors to rush toward exiting the crypto market. If Bitcoin can resume its up move, it is likely to pull the altcoins along with it.

Can the top performers of this week build on their strength or is it time to book profits? Let’s spot the critical levels to watch out for.

XTZ/USD

Tezos (XTZ) has consistently been present among the top five performers for the past few weeks, which shows that the bulls continue to buy it at higher levels. Although there has been no major announcement or development in XTZ this week, the price has managed to be the top performer with a 12% gain.

This shows that its momentum is still intact but it is now time to determine whether the bulls can scale above the overhead resistance at $4.00 or is time to book profits?

XTZ USD daily chart. Source: Tradingview

The XTZ/USD pair has risen for seven consecutive weeks. Currently, the bears are defending the psychological resistance at $4. However, the positive thing is that the bulls have not given up much ground.

If the price consolidates close to the recent highs, it will increase the possibility of a move to the next target objective of $4.80 and above it $5.39479, which are 261.8% and 300% Fibonacci extension levels.

However, if the bulls fail to scale the price above $4, the pair might witness profit booking. The RSI is deeply overbought, which also points to a correction of consolidation in the next few days. The first support on the downside is $2.92 and below it $2.60, which are the 39.2% and 50% Fibonacci retracement levels of the most recent leg of the rally.

Instead of chasing price higher we suggest traders wait for a dip or a consolidation period before buying.

HEDG/USD

Hedge Trade (HEDG) is the second-best performer of this week with a rally of over 9%. In a blog post, the company announced the launch of the HedgeTrade Leaderboard, which will feature the names of the top successful traders on the platform. This makes it easier for novice traders to follow the best performing professional traders.

HEDG USD daily chart. Source: Tradingview

The HEDG/USD pair has been consolidating near its lifetime highs for the past four weeks. This is a positive sign as it shows that the bulls are not booking profits even after the stellar run of the past few months.

Though the bulls attempted to resume the up move this week, they have not been able to push the price above $3. This shows that the bears are defending the round figure at $3. If the bulls fail to scale the price above $3, the pair might extend its consolidation for a few more weeks.

The extremely overbought reading on the RSI also points to a consolidation or a correction in the next few days. A break below $2.37 can drag the price to $2.052 and below it to $1.765, which are the 38.2% and 50% Fibonacci retracement levels of the most recent rally.

However, if the bulls can push the price above $3 and sustain it, the uptrend will resume. The first target on the upside is $3.37 and above it $4.

ATOM/USD

Cosmos (ATOM) with a gain of about 7% bagged the third spot among the top performers of this week. Let’s study its chart to see whether it can pick up momentum in the next few weeks.

ATOM USD daily chart. Source: Tradingview

We had spotted a cup and handle pattern in one of earlier analysis, hence, had recommended traders to buy it. Though the buy levels were triggered, the bulls could not carry the price to our target objective of $6.9677.

For many weeks, the price remained stuck between $4 and $5, which is a positive sign as it shows that the bulls were not willing to close their positions. If the ATOM/USD pair can close (UTC time) above $5, it is likely to move up to $6.9677.

Contrary to our assumption, if the bulls fail to push the price higher, the bears will make another attempt to sink and sustain the price below $4. If successful, a drop to $3 is possible. Therefore, traders can trail the stop loss on their long positions to $3.80. Let’s reduce the risk.

MKR/USD

Maker (MKR) rallied about 6% this week and turned out to be the fourth-best performer. Recently, MakerDao and Pundi X launched a Crypto Merchant program in the Latin American countries to attract more merchants to adopt crypto and popularize the use of Dai.

Furthermore, the MKR foundation, with their sale of $27.5 million worth of MKR to venture capital funds Dragonfly Capital Partners and Paradigm, have already made their intentions to enter Asia clear.

MKR USD daily chart. Source: Tradingview

The MKR/USD pair has been range-bound between $400 and $800 for more than a year. After rebounding off the support at $400 in Dec. of last year, the bulls are likely to carry the price to the resistance of the range at $800.

If the bulls can push the price above $800, it will be a huge positive and can start an uptrend that has a minimum target objective of $1,200. As the range has been long, we expect the breakout to surprise on the upside. Above $1,200, the next level to watch is $1,400.

The traders can wait for the price to break out and close (UTC time) above $800 before buying. Conversely, if the bulls again fail to propel the price above $800, the pair might extend its stay inside the range for a few more weeks.

LTC/USD

Litecoin (LTC) rounded up the list of the top performers with a moderate 3% rally in the past seven days. What does its chart project for the long-term?

LTC USD daily chart. Source: Tradingview

We find a large rounding bottom pattern on the weekly chart, which will complete on a breakout and close (UTC time on a weekly candlestick) above the overhead resistance at $80.2731. This setup has a target objective of $124.688.

If the momentum can carry the price above $124.688, the LTC/USD pair can reach $145.675. The upsloping 20-week EMA and the RSI in the positive territory suggest that bulls have the upper hand.

Therefore, the traders can buy on a close (UTC time) above $80.2731 and keep a stop loss below $65. The up move might face stiff resistance at $100. If the bulls struggle to scale this level, the stops can be tightened.

Our bullish view will be invalidated if the price turns down from the current levels and plummets below the strong support at $66.1486.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, you should conduct your own research when making a decision.

The market data is provided by the HitBTC exchange.

Original Article
Author: btcethereumadmin

BTC, ETH, XRP, BCH, BSV, LTC, EOS, BNB, XTZ, LINK – BTC Ethereum Crypto Currency Blog

The current price action suggests that Bitcoin and Ether are likely to consolidate for the next few days before starting a directional move.

Binance CEO Changpeng Zhao believes that the upcoming Bitcoin halving has not been priced in to the digital asset’s current price action. The reduction in miner rewards will increase the cost of mining each Bitcoin, meaning, miners are unlikely to sell below their cost of production. 

Bitcoin’s supply will decrease with the halving but its demand has also been increasing, creating a situation where prices are likely to driven higher. Although CZ’s statement can be interpreted as bullish, the CEO personally believes that Bitcoin’s price might gravitate around $10,000 levels for a few more days as round numbers are known to act as psychological barriers.  

The traded volumes in major cryptocurrencies have skyrocketed in the past year and this shows greater participation by the traders. Currently, Tether (USDT) is the most frequently traded crypto asset, followed by Bitcoin and Ether (ETH). Liquidity provides stability to the markets and limits sharp volatile moves and this should help to attract institutional investors who have been wary of they crypto sector’s whipsaw volatility. 

Daily cryptocurrency market performance. Source: Coin360

Sweden, one of the most cashless societies in the world, has begun a pilot program to test its central bank digital currency, the e-krona. This program will be operational until February 2021. Sweden is the second country, after the Bahamas, that is closer to launching a true working national cryptocurrency. If successful, these projects could hasten efforts by other nations to follow suit.

Can Bitcoin and altcoins resume their uptrends or will they enter into a longer period of consolidation? Let’s study their charts to find out! 

BTC/USD

Bitcoin (BTC) again dropped below the 20-day EMA on Feb. 19, which triggered our suggested stop loss on the remaining long positions. However, the bears have not been able to sustain the price below the 20-day EMA, which shows buying at lower levels.

BTC USD daily chart. Source: Tradingview

Currently, the sequence of higher lows is still intact (shown via arrows on the chart). If the bulls can now propel the price above the overhead resistance at $10,500, the uptrend will resume.

The first target is likely to be a move to the long-term downtrend line, which is at $11,400. A break above the downtrend line will be a huge positive as it can carry the BTC/USD pair to  $13,973.50. We might suggest long positions once again after the price moves above $10,500.

Contrary to our assumption, if the bulls fail to push the price above $10,500, the bears will make another attempt to sink the price to the critical support at $9,097.15. If this support breaks down, the advantage will turn in favor of the bears. 

ETH/USD

Ether (ETH) has been consolidating between $235.70 and $288.599, which is a positive sign. As the saying goes, the longer the consolidation, the stronger will be the eventual breakout of it. With both moving averages sloping up and the RSI in positive territory, the advantage is with the bulls. 

ETH USD daily chart. Source: Tradingview

If the bulls can push the price above $288.599, the uptrend will resume. Above this level, the next target to watch out for is $318 and above it $366. Traders can protect their remaining long positions with stops at $230. 

Conversely, if the bears sink the price below $235.70, the ETH/USD pair will turn weak and can dip to $197.75. 

XRP/USD

XRP reversed direction from just below the overhead resistance at $0.31503 on Feb. 19. This shows that the bears are aggressively defending this level. It should be noted that repeated retest of a support level weakens it so investors are hopeful that the price will eventually give way.

XRP USD daily chart. Source: Tradingview

If the bears can sink and sustain the price below $0.26362, the XRP/USD pair can dip to the 50-day SMA at $0.248 and below it to $0.21302. The traders can keep the stop loss on their long positions at $0.26.

However, if the price bounces off the support at $0.26362, the bulls will again attempt to break above $0.31503. If successful, a move to $0.34681 is possible, but if the price fails to scale above $0.31503 then a few days of range-bound action is likely.

BCH/USD

Bitcoin Cash (BCH) turned down from the trendline of the ascending channel on Feb. 19, which shows that the bears are defending this level aggressively. The altcoin is currently attempting to bounce off the 50-day SMA at $358. 

BCH USD daily chart. Source: Tradingview

This shows that the bulls are still buying on dips to strong support levels. However, the rebound off the 50-day SMA has not been sharp, which shows that demand is drying up. If the price does not move up quickly, the bears will make another attempt to sink the price below the 50-day SMA. 

A move below $352.72 can drag the price to $306.78. The 20-day EMA has started to slope down and the RSI has dipped into negative territory, which indicates that the bears have the upper hand. The BCH/USD pair will show strength after it sustains above the 20-day EMA. 

BSV/USD

Bitcoin SV (BSV) has been stuck between both of the moving averages for the past five days. This shows that the range has been shrinking as traders are indecisive about the next directional move.

BSV USD daily chart. Source: Tradingview

If the bulls can push the price above the 20-day EMA, a move to $337.80 and above it to $382.47 is possible.

On the other hand, if the bears sink the price below the 50-day SMA, a retest of the support at $236 is possible. If this support breaks down, the BSV/USD pair will turn negative. We do not find any reliable buy setup at the current levels.

LTC/USD

Litecoin (LTC) turned down from the overhead resistance at $80.2731 on Feb. 19. However, the bulls again defended the support at $66.1486. This shows that the altcoin is stuck between $80.2731 and $66.1486. 

LTC USD daily chart. Source: Tradingview

The 20-day EMA has flattened out and the RSI is just above the midpoint, which suggests consolidation for the next few days.

A breakout above the $80.2731-$84.3374 zone is likely to resume the uptrend. Above this zone, a rally to $100 will be on the cards. Conversely, if the bears sink the price below the 50-day SMA at $62.65, the LTC/USD pair will turn negative. We might suggest long positions after the price sustains above the small downtrend line.

EOS/USD

EOS turned down from the 20-day EMA on Feb. 19 and plunged below the support at $4. However, the buyers stepped in at $3.6253. Currently, the bulls have again pushed the price back above $4.

EOS USD daily chart. Source: Tradingview

The price can now move up to the 20-day EMA at $4.44. If the bears again defend the 20-day EMA, the EOS/USD pair might remain stuck between both the moving averages.

Alternatively, a break above the 20-day EMA can carry the price to the next overhead resistance at $4.8719. The pair will weaken if the bears sink and sustain the price below the 50-day SMA at $3.93.

BNB/USD

Binance Coin (BNB) dipped to an intraday low of $21 on Feb 20, which triggered our recommended stop loss on the long positions. Currently, the price has bounced back above $21.80 but the bulls are struggling to sustain the price above the 20-day EMA at $22.44.

BNB USD daily chart. Source: Tradingview

If the BNB/USD pair fails to climb above $23.5213, the bears will again attempt to sink the price below $21. If successful, a drop to the 50-day SMA at $19 is possible.

Conversely, if the bulls can push the price above $23.5213, a move to $27.1905 is possible. The flattish 20-day EMA and the RSI close to the midpoint suggest a few days of consolidation. 

XTZ/USD

For the past two days, Tezos (XTZ) has formed long wicks on the candlesticks, which shows selling at higher levels. The bulls are facing selling close to the psychological resistance at $4. However, the positive thing is that the buyers have not given up much ground.

XTZ USD daily chart. Source: Tradingview

If the bulls can push the price above $4, the XTZ/USD pair will start its journey towards its next target objective of $4.8007036. 

Conversely, if the bulls fail to sustain the price above $4, the pair might again dip to $2.752 and remain range-bound for a few days. 

LINK/USD

Chainlink (LINK) has been consolidating near the lifetime highs at $4.8671. We spot a developing symmetrical triangle formation, which usually acts as a continuation pattern. If the bulls can push the price above the triangle, the uptrend will resume.

LINK USD daily chart. Source: Tradingview

Both moving averages are sloping up and the RSI is close to the overbought levels, which suggests that the bulls are in command. A breakout to new highs is likely to carry the LINK/USD pair to $5.6934.

Conversely, if the bears sink the price below the triangle, the pair might enter a deeper correction and drop to $3. We will wait for the price to break out of the triangle before proposing a trade in it.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.

Market data is provided by HitBTC exchange.

Original Article
Author: btcethereumadmin

Top Cryptocurrencies Are Exponentially More Liquid Than Ever Before – BTC Ethereum Crypto Currency Blog

With USDT’s volume up 32,769 times since 2017, and BTC trade having increased by 468 times, what is the crypto market outlook?

With increasing speculation in the crypto community that cryptocurrency markets are on the cusp of the next major bull season, it can be easy to lose sight of the maturation that the crypto ecosystem has undergone to get to the present moment.

When comparing the current crypto markets against the climate preceding the previous bull run, many top markets have seen volume gains by a factor of multiple thousands, evidencing a significant expansion in market liquidity.

Daily BTC trade up 519 times since 2017

As of Feb. 15, 2017, Bitcoin (BTC) was the single-most traded crypto asset, having generated $89.76 million worth of trades over 24 hours. 12 months later, amid the fallout from the all-time highs posted during December 2017, BTC had seen a 100-time gain in trade activity, posting a 24-hour volume of $171.48 billion. By contrast, the market capitalization of BTC had grown by 10 times over the same period, highlighting the dramatic growth in liquidity relative to capitalization during the bull trend.

However, the ensuing bear trend saw Bitcoin trade activity shrink by one-third, with $6.09 billion worth of BTC changing hands during Feb. 15, 2019. The capitalization of BTC also saw a significant decline during 2018, having plummeted 62.9% in 12 months. 

As of Feb. 19, 2020, BTC is the second-most traded crypto asset despite seeing a 667% gain in trade activity, with BTC pairings garnering $46.71 billion worth of trades over the past day. Over the past year, BTC has also seen its market capitalization grow by approximately 200%.

ETH trade volume consistently gains year-over-year

Three years ago, Ether (ETH) was the second-most traded crypto asset, with a daily volume of $18.46 million. As of Feb. 15, 2018, Ether became the third-most traded cryptocurrency despite a year-over-year increase in trade activity of 156 times, driving its daily volume up to $2.9 billion. During the same period, the market cap of ETH expanded by 78 times.

Since 2018, Ether has been generally ranked as the third-most traded crypto asset, despite being one of the few to have posted a year-over-year increase in trade volume as of mid-February 2019, with a gain of 4.2%. Despite the increase in market trade activity, Ether’s market capitalization had shrunk by 86% during the same year.

As of Feb. 19, 2020, the 24-hour volume of ETH had rebounded by 667% in one year, with $23.22 billion worth of Ether changing hands today. The expansion in trade activity far surpassed Ether’s growth in market cap over the same period, with ETH capitalization increasing by approximately 140%. In 36 months, ETH’s trade activity has increased by roughly 1,250 times.

XMR falls from top 20 crypto assets by volume

After being the third-most traded crypto asset with a daily volume of $4.81 million as of Feb. 15, 2017, Monero (XMR) saw the weakest 12-month gain in liquidity among the top six markets by trade activity.

As of Feb. 15, 2018, XMR pairings produced $85.77 million in daily volume, ranking Monero as the 20th-most traded crypto asset and seeing an increase of nearly 17 times. By contrast, XMR’s market cap grew by 24 times during the same period.

The 2018 bear market saw XMR’s trade volume decline by 39% in 12 months, with $52.42 million worth of Monero changing hands during Feb. 15, 2019 — ranking XMR as the 21st-most traded cryptocurrency. The same year saw Monero’s market cap fall by 83%.

Despite producing a relatively weaker recovery than other leading markets, XMR has seen a 140% gain in trade volume year-over-year, with Monero pairings having produced $129.99 million worth of trades during the past 24 hours. The XMR’s capitalization has also increased by 105% in 12 months and is currently the 14th-most traded crypto asset. XMR’s trade activity has increased by 14 times in three years.

LTC trade activity increases by 1,995 times

As of Feb. 15, 2017, Litecoin (LTC) was the fifth-most traded crypto asset with a 24-hour trade volume of $2.68 million. Litecoin saw the largest gain in trade activity during 2017, ranking fourth by volume with $2.09 billion worth of LTC changing hands 12 months later following an increase by 776 times in trade. The total capitalization of Litecoin also gained by nearly 65 times during the same period.

LTC suffered the heaviest decline in volume among the top markets during the 2018 bear season, with the fourth-most traded crypto asset seeing a 50% drop in trade activity to post a 24-hour volume of $1.04 billion as of Feb. 15, 2019.

LTC still ranks fourth by trade activity, with Litecoin pairings producing $5.57 billion worth of trades in the last 24-hours — with a year-over-year volume increase of 435%. Litecoin’s market cap has also grown by 100% over the past 12 months.

USDT trade skyrockets in three years

As of Feb. 15, 2017, Tether (USDT) was the sixth-most traded crypto asset with a 24-hour volume of $1.65 million. One year later, Tether had seen a volume increase by 1,985 times, then Tether became the second-most traded cryptocurrency with a daily volume of $3.28 billion. The same year saw Tether’s market cap grow 100 times.

Tether’s volume continued to grow despite the 2018 bear trend, with USDT pairings producing almost $5.02 billion worth of trades as of Feb. 15, 2019 — a 12-month increase of 52.6% alongside a 9% decline in capitalization.

Currently, USDT has dethroned BTC as the most-traded crypto asset, having generated $56.47 billion worth of trades in the last 24 hours, an increase of 10 times. Tether’s market cap has also grown by roughly 130% over the past year.

Tether volume increased after Chinese crypto crackdown

David Waslen, CEO and co-founder of HedgeTrade, a blockchain-powered financial application for social trading, attributes the enormous growth in USDT’s volume to China’s 2018 cryptocurrency crackdown.

Waslen told Cointelegraph that the use of stablecoins became the preferred strategy for Chinese investors seeking to move money in and out of the cryptocurrency markets following the introduction of prohibitive policies with regards to crypto by the Chinese central government. Waslen stated: “Since the ban took effect on crypto exchanges, Tether has been used in China mainly as the on/off ramp between cryptocurrencies and more stable assets.” He went on to add:

“After the ban against fiat on-ramps for exchanges took effect in August of 2018, Chinese exchanges where USDT was used extensively saw continued growth — despite their losing access to banking services. USDT reacted to the ban by hitting several major milestones over the next year or so.”

Waslen also notes that China’s OTC markets facilitate a significant number of USDT trades that are not represented in Coinmarketcap’s data, stating: “Now that the stablecoin has become so widely used, we’re seeing USDT brokers creating a very lucrative niche with cryptocurrency companies — especially those that have fiat liquidity.”

Looking forward, Waslen expects that the trade volumes for USDT and other fiat-pegged stablecoins will continue to increase in the future, particularly in jurisdictions that maintain strict capital controls.

Terry Culver, the chief executive of blockchain venture capital and hedge fund management firm Digital Finance Group U.S., argues that BTC has seen reduced volume volatility as a result of an increased use as a store of value amid a rise of altcoin speculation. “Other top digital assets have seen considerable increases in volume year-over-year, punctuated by extreme highs and lows along the way.”

Culver suggests that USDT trade volume should not be compared alongside that of other cryptocurrencies, suggesting that much of the reported Tether volume is fake:

“I think it’s helpful to exclude USDT as an appropriate comparable. Much of the volume is fake. The volume that is real serves a very different purpose from other cryptos. It is a short term (traders holding it for minutes) medium of exchange between fiat and crypto.”

Experts challenge Coinmarketcap volume data

The CEO of the Dash Core Group, Ryan Taylor, believes that Coinmarketcap’s volume data cannot be trusted: “In my opinion, it is unlikely that the reported numbers are accurate.” He went on to explain:

“Exchanges are heavily incentivized to inflate their trading volume to attract users, and unfortunately, many of the less credible exchanges do just that. If you look at exchanges that appear to report accurate volumes, 2019 appeared to be relatively less active than 2018, with the exception of higher volumes in the second quarter of 2019.”

However, Taylor notes that Coinmarketcap has responded to the issue of exchanges inflating reported volume by “attempting to shift to other metrics for liquidity that are more difficult to manipulate.”

Haohan Xu, the CEO and founder of distributed digital asset marketplace Apifiny, believes that Coinmarketcap’s data does not accurately represent the volume distribution of the cryptocurrency ecosystem because it does not include the liquidity present in the crypto derivatives markets:

“Based on the market data we have been monitoring, the transaction volume of leading crypto assets between the year of 2018 and 2019 did not see any growth in the market, unless transaction volume for derivatives is taken into account.”

Xu asserts that cryptocurrency derivatives saw significant growth during 2019, which most likely led to a significant increase in the transaction volume of leading crypto assets, more so in the second half of the year. Xu expects crypto trade volumes to grow at a faster pace in the coming years, predicting that 2021 will see trade volumes that significantly surpass the trade activity of 2020.

By contrast, the COO of cryptocurrency payments platform Crypto.com, Eric Anziani, identified a surge in trade activity during the middle of 2019 before market activity slowed toward the end of the year.

“In 2018, overall adjusted industry trading volume dropped significantly as the market entered a prolonged bear period. Retail volume dried up first followed by institutions. In 2019, volume recovered across the board and increased up to 5x in the months of May/June 2019 compared to the same time in 2018, riding on the BTC price rally culminating in July 2019. We did observe a slowdown of global trading activity towards the end of 2019.”

However, Anziani adds that early 2020 has seen “notable upward volume trend” and bullish market sentiment “both from retail and institutional users.”

Original Article
Author: btcethereumadmin

Crypto’s New Deal: This DeFi Platform is Putting Unused Tokens Back to Work


Decentralized Finance “DeFi” has experienced tremendous growth in the past few months, and it looks like it’s only going to continue ramping up. According to DeFi Pulse, there is roughly $1.13B locked into DeFi contracts, nearly double the amount at the start of 2020.

The underpinning of DeFi’s recent rise to popularity is the series of unconventional financial tools that are helping democratize the future of global peer-to-peer lending and transactions. 

We connected with the Chintai team, a Cayman-based platform that seeks to enable the leasing of unused utility tokens. If you haven’t heard about utility tokens in a while, you’re not alone. Utility tokens, or tokens that are essentially a promise to access a future product or service, were exceptionally hyped in the 2017 ICO craze, but the ensuing bear markets cooled off the utility market landscape. 

Utility tokens are meant to be used, but most of them are lying dormant. Utility token holders have seen some of their utility token values plummet upwards of 95% and have moved onto focus on other things. 

Chintai wants to let utility token holders get some actual utility out of their tokens. With over 250M in transaction volume, Chintai appears to be offering a significantly attractive value proposition, if not at least demonstrating the DeFi ethos of enabling uncaptured financial opportunity in action. 

We spoke with Ryan Betham, Chintai COO, about DeFi, Chintai’s recent growth, and the utility token landscape. 


Why is DeFi an exciting space right now? 

DeFi pioneers are producing tangible use cases that deliver on the dreams which ignited the cryptocurrency movement in the first place. It’s about giving people control of their money, and democratizing access to opportunity – all while eliminating value extractors. 

So, here we are today with a plethora of DeFi protocols. Many of which are offering decentralized lending. And it’s working, really well. We’re seeing proof that we don’t need 3rd parties to facilitate one of the most basic building blocks of a new economy – borrowing and lending. 

And it’s being done on a global scale, without borders, all executed with code. It’s like watching sprouting seeds for a vision of a new digital economy. How cool is this stuff?!

Can you hypothesize how much more the DeFi space has to grow? 

If you broaden the definition of DeFi to include any financial instrument that relies on smart contracts and distributed ledger technology to function, the sky’s the limit. The total monetary value of the global financial system is somewhere around $300 trillion– with a “T”. Not everything needs to be on blockchain.

 But there’s a good case to be made that we could see a global financial system that is mostly reliant on blockchain tech. It’s simply too efficient and secure compared to the existing infrastructure. Market principles would suggest you either adapt or die.   

Take the $109 trillion bond market as an example. That’s something we’re trying to help fix and blockchain technology is a perfect instrument to bring massive efficiency gains in bond markets. And the great thing is that the solution is disruptive while still being beneficial for big banks, small banks, businesses, and investors simultaneously. Incentives align and everyone wins. 

So once people understand the value proposition, we expect this stuff to catch on like fire. It’ll be one of those leaps in evolution that seems slow in the moment, but fast in retrospect. 

“Utility tokens are meant to be used, but most of these tokens are lying dormant, collecting virtual dust for the investors that purchased them.” How does Chintai aim to address this issue? 

We built the first high-performance, decentralized exchange for lending and borrowing token utility. Not borrowing the currency – borrowing the utility itself. We started with an EOS token leasing market. 

For people that don’t know, EOS tokens give you ownership of network CPU and NET. You can think of CPU and NET as the battery power you need to run an application or transact on the network. Without CPU and NET you can’t use the network.

So people who own the EOS token, but don’t need to use the CPU and NET, can set an interest rate and lend out their resources to someone who needs CPU and NET. 

The borrower pays that interest rate for a fixed period and receives the CPU and NET for their applications or transactions. The cool part is that the borrower doesn’t actually have possession of the tokens because you can delegate CPU and NET while maintaining custody of the token itself. 

The whole process is handled by smart contracts so counterparty risk is virtually non-existent. We saw $250 million in transaction volume within six months, had 33,000 unique accounts using the instrument, and roughly $3 million in interest generated for lenders. 

Now we’re taking that concept and applying it to any utility token and even NFTs, which represent unique or bespoke items. So you know virtual items in games? Swords, skins, characters – whatever. We want to enable leasing of those items too. We’re also launching a handful of new leasing markets in early 2020 and we’ve already seen promising outcomes. It’s hard to not get excited about this stuff. 

What milestones does the non-fungible token (NFT) ecosystem need to hit to reach a point of critical mass? 

Generally speaking, the most important milestone is having developer tools that can enable smooth UX. Let’s take gaming for example. 

It’s an ecosystem that is ripe for disruption, but doesn’t quite have the tools that game devs need to fully utilize the benefits of blockchain tech. 

Gamers are already accustomed to in-game economies. But do you really think they’re going to manage private keys and login to a blockchain account for tokenized virtual assets? Mostly no. So game developers need tools to embed virtual items into games in a way the end-user doesn’t realize they’re using a blockchain at all.

We’ve built instruments for this use case specifically. The same engine that facilitates token leasing can also facilitate transactions for NFTs in games. 

And that engine can be used in the background, using our API, to embed the process of exchanging virtual items directly into games. No friction for the end user, but all the benefits of blockchain for the gaming industry. 

Can you explain how what Chintai is offering is different from competitors? 

We’re kind of like a swiss army knife for DeFi. The reason why we can have such a diverse offering is because of our high-performance on-chain order management system (OMS). This is super FinTech geeky stuff so bear with me. 

OMS’s match orders and execute agreed terms between buyers and sellers – it’s how an order book is populated on say a crypto exchange except those order management systems are offchain so you lose the transparency that comes with an on-chain OMS. 

Our on-chain OMS is agile and highly configurable. It allows us to rapidly build markets for anything from token leasing, to decentralized bonds, NFT trading, and everything in between. 

The other cool aspect of our OMS is that we can white label businesses to take part in any Chintai market by allowing them to curate their own front-end UI, set their own fees, and use our exchange in the background to facilitate order management and execution. 

This allows people to create highly customized portals or UIs for very specific needs. And the liquidity for every market is shared, so you don’t end up with fractionalized markets.

“Decentralized exchanges that lack compliance with global regulators are at risk of being shut down due to lack of consumer protection and anti-money laundering laws.” – What alternative does Chintai offer?

The on-chain OMS I just mentioned is a big part of it. Regulators want transparency. Since our OMS is on-chain they can trace and see token movements. In our case, accounts will link back to a person’s identity using KYC. 

Our users will have their compliance laws encoded into their accounts. And tokenized securities will also have compliance controls coded in as well. So as a user you can only access tokens that are considered legally compliant within the jurisdiction you live.

“Chintai lowers the cost for those who are trying to use the tokens while also providing yield to those who lend them.” – What interest rates does Chintai offer?

Chintai enables markets that have fluctuations like any other market. We’ve seen APR as high as 40%. But usually the APR is more reasonable. Somewhere around 3-10% depending on the market. 

Chintai’s suite of products looks pretty, well, sweet. Which of these is the most popular among your users? Which product do you think is being underutilized and offers a ton of value? 

The token leasing markets are most used. Mostly because they’ve been live the longest and the DEX is awaiting licensure approval from the Monetary Authority of Singapore so it’s not yet live. The most underrated aspect by far is the Chintai Merchant Network, i.e our OMS white labeling service. 

Merchants can set their own fees, build their own custom UI, and Chintai takes care of all order management and execution. It’s extremely powerful. After all, what good would it be if we had all these cool tokens, but couldn’t make a proper market to exchange them within applications or for various use cases? 

Can you walk us through how the most popular one works?

Talk to us. We explore exactly what market you want to make and we customize it for you. Or if we already have a market you want, but think could benefit from a better UI, then we white label you to use our OMS and share liquidity that’s already been established. In either case you need to build your UI and set your own fees. But we take care of the rest.

Why EOS?

Chintai was designed to be a high performance, enterprise-grade, fully on-chain Order Management System (OMS).  This inherently required us utilizing a blockchain that can handle high transaction volume with low cost; this made Etheruem an unsuitable choice in late 2017 when the project launched.

While the Chintai tech stack does utilize eosio, we are deploying on multiple instances including Worbli (for DeFi) and WAX, Ultra (for commercial gaming) – the EOS blockchain itself features as only a small component of the markets and services.  

Additionally, Chintai will shortly be utilizing Liquidapps DAPP Network for horizontal scaling, which includes their LiquidLink service to enable dApps on Ethereum to also leverage Chintai, with the benefits of the on-chain transactional throughput and reflecting back to Ethereum at settlement to minimize gas cost.

From financial service industry discussions to date, indications in terms of preference have been towards leveraging or spinning up an industry/private instance of eosio as the basis for DeFi services, and there is a reluctance to leverage any of the existing public blockchains. 

We will continue to make decisions based on our partner feedback and customer needs in that regard, but feel we have the right tech stack to be able to service and scale while leveraging the efficiency benefits of blockchain.

What does the Chintai Roadmap look like for 2020? 

2020 is a year of accelerated takeoff. Our primary focus is readying our tech and business for the DEX. We’re establishing our business development team in Singapore to enlist a consortium of banks to issue decentralized Bonds and securities and we’re opening a branch in Germany for our technical team.


This includes lining up a few companies that will pilot STO issuances on the regulated DEX. We are also launching a handful of token leasing markets and formalizing partnerships that will integrate our OMS for gaming, tokenized commercial real estate, and FinTech. 

To help power it all we’ve just opened a pre-seed round in early 2020. But what ambitious startup isn’t trying to raise money? So you probably knew that already. 

How can someone get involved with Chintai?

We are probably one of the more transparent and interactive teams. If you ask us what we’re doing at any moment we will tell you as much as we can. 

We’ve really enjoyed building a culture where our followers, users, and supporters can go on the ride with us. The best way to get close to the action is telegram or twitter. Both handles are chintaiEOS.

Twitter: @chintaiEOS
Telegram: https://t.me/ChintaiEOS
Email: [email protected]

This article is Originally posted on CoinCentral.com
Author: Alex Moskov

BTC, ETH, XRP, BCH, BSV, LTC, EOS, BNB, XTZ, LINK – BTC Ethereum Crypto Currency Blog

Numerous cryptocurrencies are attempting to resume their uptrend, which shows that the sentiment amongst traders remains bullish.

Eurekahedge’s index of crypto hedge funds have clocked 21.15% returns since the start of 2020 and this is the best performance from the firm since the index started in 2013. Even in 2017, which was the blockbuster year for cryptocurrencies, the January returns were a modest 4.85%. If the crypto hedge funds maintain their stellar performance this year, they are likely to attract further investments in this space.

Coinbase is now a Visa principal member, the first crypto pure-play company to receive the membership. This will help the company to offer more features and services to its customers of Coinbase cards that are available in 20 markets. Coinbase believes that this step would be “another significant milestone in the mainstream adoption of crypto as a genuine utility.”

Daily cryptocurrency market performance. Source: Coin360

After the recent dip, most major cryptocurrencies are attempting to resume their up move, with a couple close to new lifetime highs. This shows that the sentiment remains bullish and traders are willing to buy the dips. After every rise, expectations of a similar rally to the one seen in 2017 dominates the limelight.

Though anything is possible in crypto markets, it would be better to see a gradual rise to new highs, instead of the vertical rally, which is unsustainable. Let’s analyze the charts to see if there are any patterns pointing to a parabolic move.

BTC/USD

Though Bitcoin (BTC) dipped below the 20-day EMA on Feb. 17, the bears could not sustain the price below it. This shows that the bulls continue to buy the dips. The failure to drag prices lower has attracted buying and some short-covering by the aggressive bears.

BTC USD daily chart. Source: Tradingview

Currently, the price is back above $10,000 and the bulls are likely to attempt a breakout of the overhead resistance at $10,360.89.

If the BTC/USD pair can sustain above $10,360.89, it can move up to the long-term downtrend line at $11,400, which is likely to act as a stiff resistance. A break above this line will be a huge positive that can open the doors for a rally to $13,973.50.

However, if the bulls fail to push the price above 10,360.89, the pair might remain range-bound for a few days. It will turn negative on a break below the recent low of $9,456.78. Therefore, traders can trail their stop loss on the remaining long positions to $9,400.

ETH/USD

Ether (ETH) rebounded sharply from the critical support at $235.70, which shows that bulls bought the dips aggressively. If the momentum can carry the price above the recent high of $288.599, the uptrend is likely to resume. Above this level, the next target objective is $318 and above it $366.

ETH USD daily chart. Source: Tradingview

Contrary to our assumption, if the price turns down from $288.599, the ETH/USD pair will remain range-bound for a few days.

The pair will signal a deeper correction if the bears sink the price below $235.70. Therefore, the traders can trail the stops on the remaining long positions to $230. The stops can be moved up once again after the price sustains above $288.599.

XRP/USD

XRP has bounced off the support at $0.26362 but it is struggling to pick up momentum. The bears are likely to offer a stiff resistance at $0.31503. If the price turns down from this level, the altcoin is likely to remain range-bound for a few days.

XRP USD daily chart. Source: Tradingview

However, if the bulls can push the price above $0.31503, the XRP/USD pair can move up to $0.34229 and above it to $0.40.

Our view will be invalidated if the price turns down from the current levels or the overhead resistance and plummets below $0.26362. Therefore, the traders can protect their long positions with stops at $0.26.

BCH/USD

Bitcoin Cash (BCH) is currently facing resistance at the trendline of the ascending channel. If the bulls can push the price back into the channel, it will be a huge positive and will signal that the current breakdown was a bear trap.

BCH USD daily chart. Source: Tradingview

Once inside the channel, the bulls will again try to carry the price to $500. If the bulls can push the price above the $500-$515.35 resistance zone, a move to $600 is possible.

Conversely, if the price turns down from the trendline of the channel, the BCH/USD pair might remain range-bound for a few days. The flat 20-day EMA and the RSI close to the midpoint suggests a consolidation for the next few days. A break below $360 will turn the tables in favor of the bears.

BSV/USD

The bulls are struggling to push the price above the 20-day EMA. This shows a lack of buyers at higher levels. Above the 20-day EMA, the bulls might again face resistance at $337.80. If the price turns down from this level, Bitcoin SV (BSV) might remain range-bound for the next few days.

BSV USD daily chart. Source: Tradingview

A break above $337.80 will be the first sign that bulls are back in action. If the buyers can propel the BSV/USD pair above $382.47, a retest of the lifetime highs will be on the cards. However, if the bears sink the price below $236, the pair will turn negative and can drop to $173.66.

LTC/USD

Litecoin (LTC) has risen close to the overhead resistance at $80.2731. We anticipate the bears to defend the $80.2731 to $84.3374 zone aggressively. However, if the bulls can scale above this zone, a rally to $100 is possible.

LTC USD daily chart. Source: Tradingview

Conversely, if the bulls fail to push the price above the overhead resistance zone, the LTC/USD pair might consolidate between $80.2731 and $66.1486 for the next few days. The pair will turn negative if the price dips below the critical support at $66.1486.

EOS/USD

The bulls are struggling to push the price above the 20-day EMA at $4.6. This shows a lack of buyers at higher levels. If the price turns down from the current levels, EOS might remain range-bound between $4.6 and $4.

EOS USD daily chart. Source: Tradingview

However, if the bulls push the price above the 20-day EMA, the EOS/USD pair can move up to $4.8719 and above it to $5.4861. Above this resistance, the next level to watch out for is $6.

On the other hand, if the bears sink the price below the critical support at $4 and the 50-day SMA at $3.88, the pair will turn negative.

BNB/USD

Binance Coin (BNB) bounced off the breakout level at $21.8 and the bulls have pushed the price above $23.5213. If the altcoin can move above $27.1905, it is likely to move up to $31.4889, which is the target objective of the breakout from the rounding bottom pattern.

BNB USD daily chart. Source: Tradingview

However, if the bulls fail to propel the price above $27.1905, the BNB/USD pair might remain range-bound for a few days.

The pair will turn negative on a break below the recent low at $21.5510. Therefore, the traders can protect their long positions with stops at $21.

XTZ/USD

The dip to $2.752, which was just below the 38.2% Fibonacci retracement level of $2.7809234 was purchased aggressively. This has pushed Tezos (XTZ) to a new high once again, which is a huge positive.

XTZ USD daily chart. Source: Tradingview

The next level to watch out for is the psychological resistance at $4. If this level is crossed, the up move can reach $4.8007036. Both moving averages are sloping up and the RSI is in the overbought zone, which suggests that the bulls are firmly in command.

However, if the bears defend the resistance at $4, the XTZ/USD pair might consolidate for a few days. As the rally is vertical, the traders should be careful before taking fresh positions and should keep a close stop loss.

LINK/USD

Chainlink (LINK) has risen to the tenth spot on market cap standings, hence, it has been included in our analysis. The altcoin has resumed its up move after the recent dip and is close to making a new lifetime high.

LINK USD daily chart. Source: Tradingview

If the bulls can scale and sustain the price above $4.8671, the LINK/USD pair can move up to $5.6934. The upsloping moving averages and the RSI in the positive territory suggest that the bulls are in command.

Our view will be invalidated if the price reverses direction and plummets below the 20-day EMA at $3.77. 

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.

Market data is provided by HitBTC exchange.

Original Article
Author: btcethereumadmin

BTC, ETH, XRP, BCH, BSV, LTC, EOS, BNB, XTZ, ADA – BTC Ethereum Crypto Currency Blog

The current pullback has resolved the overbought state of many cryptocurrencies and after a few days of consolidation the uptrend is likely to resume.

After Bitcoin (BTC) scaled above $10,000 the mood among market participants turned hugely bullish. Daily talks of the asset making new highs blanketed crypto Twitter and this bullish sentiment also rubbed off on altcoins which picked up momentum and rallied sharply in the past few days. As the week approached a close it was clear that the crypto market was looking overheated in the short-term as greed gripped the market participants. 

Such a situation usually results in a sharp pullback that scares the weak hands away. Led by Bitcoin, the crypto markets have slipped sharply in the past two days. The total crypto market capitalization that had surged to over $308 billion on Feb. 15 dropped to about $274 billion on Feb. 17. This shows profit booking by the short-term traders.

Daily cryptocurrency market performance. Source: Coin360

However,  the long-term trend in most major cryptocurrencies remains intact. Therefore, we suggest traders view this current fall as a buying opportunity. Nonetheless, we recommend traders wait for the decline to end before jumping in.

The long-term Bitcoin bulls are unfazed by the current drop. Celebrated TV host Max Keiser has revised his target on Bitcoin from $100,000 to $400,000. Though we are also bullish in the long-term, let’s see what does the short-term project?

BTC/USD

The failure to sustain above the overhead resistance at $10,360.89 has attracted profit booking by the short-term traders. Though Bitcoin (BTC) bounced off the 20-day EMA at $9,700 on Feb. 16, the bulls could not build up on the rebound. This shows selling at higher levels. 

BTC USD daily chart. Source: Tradingview

Currently, the bears are attempting to sink the price below the 20-day EMA. If successful, the BTC/USD pair can drop to the next support at $9,097.15. We anticipate the bulls to defend this support aggressively. 

The 20-day EMA is flattening out and the RSI has dipped close to the midpoint. This suggests a range-bound action in the near-term. 

On the downside, a drop below the $9,097.15-$8,820 support zone will turn the trend in favor of the bears. For now, the traders can keep the stop loss on the remaining long positions at $8,900. 

ETH/USD

Ether (ETH) turned down from $288.599 on Feb. 15, which was very close to our first target objective of $289.221. The sharp pullback has dragged the price back to the breakout level of $235.70. Though the price rebounded sharply from $235.70 on Feb. 16, the bulls have not been able to build up on the bounce. This shows that sellers are active at higher levels.

ETH USD daily chart. Source: Tradingview

Currently, the bulls are again attempting to defend the support at $235.70. If successful, the ETH/USD pair might attempt to resume the up move. However, if the bears sink the price below $235.70, the 20-day EMA at $229 might act as a support.

A break below the 20-day EMA will be a negative sign and it can drag the price to the next support at $197.75. The traders can trail the stop loss on the remaining long positions to $220. 

XRP/USD

XRP could not sustain above the resistance at $0.34229 on Feb. 15. The failure to do so attracted profit booking that dragged the price below the 20-day EMA, which is a negative sign. If the bears sink the price below $0.26362, the drop can extend to the 50-day SMA.

XRP USD daily chart. Source: Tradingview

However, if the price stays above $0.26362, the bulls will again attempt to carry the price to $0.34229. We anticipate a few days of consolidation between $0.26362 and $0.34229 before the XRP/USD pair starts a trending move. For now, the traders can keep the stop loss on the long positions at $0.26. 

BCH/USD

Bitcoin Cash (BCH) reversed direction from close to the stiff resistance at $500. The sharp correction dragged the price below the ascending channel. This breaks the uptrend that was in force.

BCH USD daily chart. Source: Tradingview

Currently, the bulls are attempting to hold the breakout level at $360. If this support holds, the BCH/USD pair might rise to the 20-day EMA, which might act as a resistance. After the volatile action of the past few days, we anticipate a few days of consolidation.

Our view will be negated if the bears sink the price below the support at $360 and the 50-day SMA at $343. If this support cracks the decline can extend to $306.78.

BSV/USD

Bitcoin SV (BSV) dipped below the critical support at $337.80 on Feb. 15. This triggered further selling that dragged the price to the 50-day SMA at $243. Currently, the price has bounced off sharply from the 50-day SMA.

BSV USD daily chart. Source: Tradingview

If the price rises above the 20-day EMA, the next level to watch out for is $337.80. We anticipate a range-bound action between $236 and $337.8 for a few days.

Our view will be invalidated if the BSV/USD pair price turns down from the 20-day EMA and breaks below $236. Below this level, the next level to watch out for is  $173.66. 

LTC/USD

Though Litecoin (LTC) closed (UTC time) above $80.2731 on Feb. 14, the bulls could not build up on it. This attracted selling, which plunged the price below the 20-day EMA on Feb. 16. Though the price rebounded off the 20-day EMA, the bulls could not carry it above $80.2731.

LTC USD daily chart. Source: Tradingview

Currently, the bulls are attempting to defend the support at $66.1486. If successful, the LTC/USD pair might remain range-bound between $66.1486-$80.2731 for the next few days.

The pair will pick up momentum on a break above $85, whereas a drop below $66.1486 will turn the trend in favor of the bears. We might suggest long positions if the rebound off $66.1486 sustains.

EOS/USD

We had suggested the possibility of a pullback in EOS as the RSI was in the deeply overbought territory. However, we had expected the price to find support between $4.8719 and the 20-day EMA at $4.58.

EOS USD daily chart. Source: Tradingview

Contrary to our assumption, the pullback was sharp as it plunged below the support at $4.24. Currently, the bulls are attempting a rebound off $4. 

If successful, the EOS/USD pair might consolidate between $4 and $4.8719 for a few days. The trend will turn negative on a break below the 50-day SMA at $3.80. We do not find any reliable buy setups at the current levels, hence, we suggest traders remain on the sidelines.

BNB/USD

Binance Coin (BNB) plummeted below the support at $23.5213 and reached the next support at $21.80 on Feb. 16. Though the price rebounded sharply from $21.80, the bulls could not carry it above $23.5213, which shows selling at higher levels.

BNB USD daily chart. Source: Tradingview

Currently, the BNB/USD pair has again bounced off the support at $21.80. We anticipate the bulls to make another attempt to carry the price above $23.5213. If successful, a move to $27.1905 is likely.

Conversely, if the price turns down from $23.5213, the bears will make another attempt to sink the price below $18.26. For now, the traders can keep the stop loss on the long positions at $21.

XTZ/USD

The bulls failed to push Tezos (XTZ) above the overhead resistance at $5.5989 on Feb. 14 and 15. That resulted in profit booking that dragged the price to just below $2.7809234 levels, which corresponds to 38.2% Fibonacci retracement level of this leg of the rally.

XTZ USD daily chart. Source: Tradingview

On Feb. 16, the price bounced sharply from $2.752 levels but the bulls could not sustain the higher levels. This shows that the sellers are back in action.

Currently, the bears are attempting to sink the price below $2.7809234. If successful, a drop to the 20-day EMA at $2.59 is possible. This is close to the 50% retracement level of the recent rally, hence, we expect the bulls to defend this level aggressively. We will wait for the XTZ/USD pair to stop falling before suggesting a trade in it.

ADA/USD

Cardano (ADA) turned down sharply on Feb. 15 and plunged below the previous resistance turned support of $0.65229. Selling continued on the next day and it dragged the price to the next support at $0.0560221. 

ADA USD daily chart. Source: Tradingview

This fall triggered our suggested stop loss on the remaining long positions at $0.06. Currently the bears are attempting to sink the price below $0.0560221. If successful, the drop can extend to the 50-day SMA at $0.048. 

Conversely, if the ADA/USD pair holds above $0.560221, the bulls will again attempt to carry the price above $0.065229. We will wait for the price to stop falling and suggest a turnaround before proposing a trade in it. 

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.

Market data is provided by HitBTC exchange.

Original Article
Author: btcethereumadmin

Lendroid Foundation Founder Vignesh Sundaresan Speaks on His Entrepreneurial Philosophies – CoinCentral


Vignesh Sundaresan is a serial entrepreneur and software architect with over 10 years of experience in product development. He’s the Co-Founder of BitAccess, a YCombinator alumni company that has grown into a large network of Bitcoin ATMs. Sundaresan has also helped fund projects such as Ethereum, Polkadot, Dfinity, Omisego, and Decentraland. 

Sundaresan has his eye on open protocols, back-end programming, and more specifically, facilitating a paradigm shift towards a more decentralized finance world. Recently, he founded and conducted a successful token sale for the Lendroid Foundation, a Singapore-based non-profit organization developing a non-rent seeking open protocol for Decentraland Lending and allied financial applications.

Your Twitter bio is “Software eats everything.” – Can you explain this quote?

This is a paraphrasing of something Marc Andreessen Horowitz said – Software is eating the world. On the surface, this seems like a catchphrase for disintermediation or ‘Uberization’. Of technology making conventional businesses obsolete. 

Uber ate the taxi medallion system, Amazon ate bookstores, DeFi will eat banks, and so on. 

But to me, this represents a very optimistic belief. Software is power, accessible power. If software eats the world, and anyone can access software – anyone can eat the world. That story of truly equal opportunity – that’s what this quote is about. 

How did you get into the cryptocurrency and blockchain world? What was your first experience with digital assets?

I had no crypto, to begin with, and no money to buy crypto. I got on bitcointalk and built an escrow service for people to be able to swap crypto. The transaction fee I earned was my first crypto. 

Could you describe your BitAcces experience?  What was it like setting up 100 Bitcoin ATMs in 18 countries? 

It was a heady, extremely optimistic time for me. There was this naivete that’s rare today, that what we were building would spread all over the world. There was also the gratification that comes from introducing something new to the world. In many of these locations, this was the first bitcoin ATM – Toronto, Montreal, Winnipeg. 

We were the coolest kids in town. I got to travel a lot, meet a lot of crypto OGs. They were the ones who bought ATMs, with the excitement of buying an arcade machine. In fact, that’s how I met Anthony di lorio, the co-founder of Ethereum. He was my first customer. He bought the first ATM in Toronto, around a BTC meetup. 

What were the trials and tribulations you had to overcome? 

BitAccess was a YC Alumnus, it was characterized by fast growth. Beyond a point, the hardest thing was the shift in focus from pure tech to tech that had to orient itself around compliance. Compliance related tools began to eat into more than half our time. 

The other hard part was the culture shock of moving from India to Canada. I was embraced by the crypto community, but I was figuring out entrepreneurship, how the world works…the culture shock never fully wore off until later.     

What’s the next big thing for cryptocurrency?

I believe virtual worlds and NFTs are in a very interesting zone, on the threshold of something incredible. Check out Cryptovoxels. They’re pushing the boundaries of how creatively a human can live. 

In your opinion, what does the cryptocurrency space need to make its next evolution? 

The obvious answer is scaling. The day we figure that out, transaction costs will come down to a few cents and will trigger a profound change across the board. The other change this space needs, now more than ever, are strong stories around the blockchain. 

Stories that hearken back to the optimism of 2014. The past two years have forced much of this community into a shell. There’s a lot of undirected aggression, skepticism. We need to mainstream big stories that bring back the ability to trust one another. 

According to your site, your investment secret is “not invest expecting it to boom, but to invest because you simply love the idea”

What are some companies (or industries) with ideas you love (not limited to cryptocurrency)?

If not crypto, then space exploration. It’s inspiring, another frontier. 

In crypto, I have always loved Decentraland – the core philosophy that your land, once it’s yours, can never be taken away. In an increasingly authoritarian world, this reality is an anchor. A galaxy on Urbit is another example. Digital art – say in makersplace or opensea. The truly original application of AI in Numerai. 

What do you view as the key growing moments for you as an entrepreneur in your life? What key lessons can you dispense for the entrepreneurs in the audience?

Entrepreneurship can work only if two things come together. 

The first is that you need to define your antithesis to an existing thesis. 

And the second is to understand and be at peace with the fact that you will at most achieve synthesis, a sort of a meeting point between the existing thesis and your antithesis. 

There’s a philosophy at the heart of this – an understanding that when you begin with an aspiration to reach somewhere, you recognize the transits in the middle, planned and unplanned, as things that augment your journey, not as burdensome wastes of time. 

This is inspired by the works of Deleuse, a French philosopher. In fact, we have named the current version of our protocol after Deleuze, if anything to remember that how we got here was not in a straight line, and where we go from here won’t be either. 

What are the most important things to follow in the cryptocurrency and blockchain space (ie. DeFi, international regulation, Libra, etc)? Why?

The three major issues that will impact layer 1 of the blockchain – Regulation (know your jurisdiction!), scalability, and governance. Everything that happens in these three arrowheads is relevant, and important. 

In your opinion, who are some of the brightest minds in cryptocurrency today?

Off the cuff, I follow Gavin Wood, Fred Ehrsam. And one off-kilter entry – @CryptoDonAlt. His viewpoint and take on this space is fascinating. 

If there was one single takeaway you can impart on our audience, what advice would you leave them with? 

Well, I can’t give advice, really, but I do have a suggestion – that we practice optimism, to attempt to reach back to the mindset of the crypto world before it became rich. To be more open, to give people a chance, maybe even a second chance. And to not confuse optimism with gullibility. Life is community, a multi-player game. We shouldn’t forget this when we’re playing crypto. 

This article is Originally posted on CoinCentral.com
Author: Alex Moskov

BTC, ETH, XRP, BCH, BSV, LTC, EOS, BNB, XTZ, ADA – BTC Ethereum Crypto Currency Blog

A deeper correction may have to wait as many major cryptocurrencies are looking strong and their uptrend is likely to continue.

Interest in Bitcoin (BTC) has surged significantly after its rally above $10,000 and if the bulls can sustain the price above this psychological level, it is likely to attract further attention. While it is difficult to pinpoint the exact reason for this resurgence, a host of factors such as the China coronavirus scare, the upcoming Bitcoin halving, discussion of launching a central bank digital currency by various countries, and the increased institutional adoption of cryptocurrency might all be contributing to the rally.

An important highlight of the crypto rally in 2020 is that it has been broad-based. Several major altcoins have made a sharp comeback, which shows wider participation by investors. Barring a few altcoins, the rise in most major cryptocurrencies has been gradual. Such uptrends usually tend to sustain for a long period. Therefore, when a the trend is firmly established, traders should look to buy on every dip.

Daily cryptocurrency market performance. Source: Coin360

However, every up move has its share of shakeouts. In every bull phase, there are periodic sharp corrections that scare the weaker hands and attract the investors with greater conviction. Here too, we expect a few sharp falls that will test the investors’ patience. We will try to spot these beforehand to the best of our ability so that traders can position themselves accordingly.

Let’s analyze the charts of the major cryptocurrencies to see if the uptrend can continue for a few more days or whether a pullback around the corner.

BTC/USD

After failing to sustain above the overhead resistance at $10,360.89, Bitcoin (BTC) has dipped back below it. However, the positive thing is that the bulls have not given up much ground, which shows that the investors expect the uptrend to resume.

BTC USD daily chart. Source: Tradingview

Both moving averages are sloping up and the RSI is close to the overbought zone, which shows that bulls have the upper hand.

The price might dip to the 20-day EMA, which is likely to act as a strong support. A strong bounce off the 20-day EMA will increase the possibility of a move above $10,360.89. If successful, the BTC/USD pair might gradually move up to the downtrend line, which is at $11,500. 

However, it is unlikely to be an easy ride up for the bulls because we anticipate the bears to mount a stiff resistance in the $10,360.89 to $11,000 zone.

Contrary to our assumption, if the bears sink the price below the 20-day EMA, the sentiment will turn negative. A deeper correction will be signaled if the price dips below the recent support at $9,097.15. Therefore, the traders can keep the stop loss on the remaining long positions at $8,900. 

ETH/USD

Ether (ETH) remains in a strong uptrend. It had been trading close to the $265 levels for the past two days. This shows that even after the recent sharp rally, the traders are not booking profits on their positions. 

ETH USD daily chart. Source: Tradingview

If the price consolidates close to the current levels for a few days, the uptrend is likely to resume. The next target objective is $289.221 and above it $318.238. If the momentum remains strong, the rally can even extend to $366.

However, we remain cautious in the short-term as the RSI is deep in the overbought territory. If the next dip bounces off the recent breakout level of $235.70, the bulls will attempt to resume the up move.

Our bullish view will be invalidated if the ETH/USD pair dips and sustains below the breakout level of $237.70. The traders can keep the stops on the remaining long positions at $210. We shall suggest trailing the stops higher after the price sustains above $289.221.

XRP/USD

XRP broke above the overhead resistance at $0.31503 on Feb. 13, which completed the rounding bottom pattern. This setup has a target objective of $0.45538. Currently, the bulls are attempting to defend the overhead resistance at $0.34229.

XRP USD daily chart. Source: Tradingview

If the bulls can push the price above $0.34229, the up move will resume. Above this level, the next target to watch out for is $0.40. 

However, if the bears sink the price back below $0.31503, the XRP/USD pair can dip to the 20-day EMA at $0.274. A bounce off this level will increase the possibility of a break above $0.34229. 

Conversely, if the bears sink the price below the 20-day EMA, a deeper correction is likely. For now, the stops on the long positions can be retained at $0.26. The stops can be trailed higher after the pair sustains above $0.34229.

BCH/USD

Bitcoin Cash (BCH) is nearing the psychological resistance at $500. We expect the rally to face stiff resistance in the $500-$515 zone. However, if the momentum can push the price above this zone, a move to the resistance line of the ascending channel at $550 is possible.

BCH USD daily chart. Source: Tradingview

The recent up move has pushed the RSI deep into the overbought territory, which suggests that the rally is overextended in the short-term.

If the BCH/USD pair turns down from the current levels or from the overhead resistance zone, it can dip to the support line of the channel. A breakdown below the channel will turn the tide in favor of the bears.

BSV/USD

Bitcoin SV (BSV) has pulled back to the breakout level of $337.80. We anticipate the bulls to defend this level aggressively. If the price sharply bounces off $337.80, it will once again attempt to resume the uptrend towards the lifetime highs.

BSV USD daily chart. Source: Tradingview

However, if the bears sink the BSV/USD pair below $337.80, a drop to the 20-day EMA at $316 is possible. If the price bounces off the 20-day EMA, the bulls will once again attempt to resume the up move.

Conversely, a break below the 20-day EMA can drag the price back towards the critical support at $236.

LTC/USD

The bears are trying to defend the $80.2731 levels but they have not been able to sink Litecoin (LTC) to the next support at the 20-day EMA. This is a positive sign as it shows a lack of sellers at these levels.

LTC USD daily chart. Source: Tradingview

If the bulls can sustain the price above $85, the LTC/USD pair can move up to its target objective of $96.439. 

Conversely, if the bears sink the price below $80.2731, a drop to the 20-day EMA at $71.68 is possible. A bounce off this support will keep the uptrend intact. However, if this support cracks, a drop to $66.1486 is possible.

EOS/USD

EOS has been facing resistance near $5.5 levels. However, the bulls have not given up much ground, which shows buying even on minor dips. A break above $5.5 can push the price to the $6-$6.4 zone where we expect the bears to mount a stiff resistance.

EOS USD daily chart. Source: Tradingview

If the momentum can carry the EOS/USD pair above the overhead resistance zone, the uptrend can extend to $7.60.

However, the sharp up move of the past few days has pushed the RSI deep into the overbought territory. This points to a possible consolidation or a minor correction in the next few days.

The first support to watch on the downside is $4.8719 and below it the 20-day EMA at $4.61. If this support holds, the bulls will again attempt to resume the up move. Our bullish view will be invalidated if the bears sink the price below $4.24.

BNB/USD

Binance Coin (BNB) turned down from $27.1905 on Feb. 13. The bears will now try to drag the price to the support at $23.5213. If the price bounces off this support, the bulls will attempt to resume the up move.

BNB USD daily chart. Source: Tradingview

The first target on the upside is $29 and above it $32. We expect the bears to defend the $32 level aggressively.

Contrary to our assumption, if the BNB/USD pair loses ground and dips below the support at $23.5213, it can drop to $21.80. A breakdown below this level will signal a deeper correction. Therefore, the traders can protect their long positions with stops at $21. The stops can be trailed higher after the price scales above $29.

XTZ/USD

Tezos (XTZ) dipped to $2.9191 on Feb. 13 after reaching a high of $3.5989 on Feb. 12. However, the pullback was short-lived as the bulls have aggressively purchased the one-day fall. This shows that the bulls are buying on minor dips instead of waiting for a deeper fall.

XTZ USD daily chart. Source: Tradingview

The bears could not even sink the price to $2.7809234, which corresponds to the 38.2% Fibonacci retracement level of the most recent leg of the rally. This shows that the sentiment is hugely bullish.

If the bulls can push and sustain the XTZ/USD pair above $3.5989, the rally can extend to $4.8 with a minor resistance at $3.86. It is difficult to call a top when an asset is backed by strong momentum. However, when the rally gets vertical, the traders should keep trailing the stops higher because the risk of a deeper pullback increases exponentially.

ADA/USD

Cardano (ADA) remains in a strong up move. However, the deeply overbought reading on the RSI suggests that the rally has run ahead of itself in the short-term. Therefore, a few days of consolidation or a minor correction is possible.

ADA USD daily chart. Source: Tradingview

The previous resistance of $0.065229 will now act as a support on any pullback. If the price bounces off this level, the bulls will try to resume the up move. The target objective on the upside is $0.08 and above it to $0.10.

However, if the bears drag the price below $0.065229, the ADA/USD pair can drop to the 20-day EMA at $0.0588, which is again likely to act as a strong support. The trend will weaken on a break below $0.0560221. The traders can protect their paper profits on the remaining long positions with a stop loss at $0.06.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.

Market data is provided by HitBTC exchange.

Original Article
Author: btcethereumadmin

BILLCRYPT FACES THE FINAL PART OF ICO WITH GOOD FEELINGS

The news has reached us that Billcrypt is reaching the final phase of his ICO, with which he intends to raise funds for an ambitious project that we are going to talk to today.

We are going to try to explain carefully what they offer us, step by step, as to some extent it can be complicated.

What problem existed?

For Billcrypt there is a big problem of disconnection between several sectors that should be working together in the blockchain sector. Partly because we have companies that have detected a need for blockchain-based services, or simply at some point need to implement a trust-based solution. And partly because we have the blockchain service providers, which as the sector matures are larger and have greater capacity to provide different proposals. Even more, if we introduce investors to this equation, we realize that they waste a lot of time and money in investigating all possible investment alternatives due to current situation.

Billcrypt’s value proposition

It is mainly a platform. A complete ecosystem that seeks to unify the three involved in the previous section.

Billcrypto is a platform that interconnects different blockchains making them interoprative with each other. This interconnection works with certain common characteristics.

Companies and start ups are going to have basic packages which let them to create operational blockchains to handle themselves. From this point, they can develop their own products or hire the team of experts with the specific characteristics they need.

Investors in turn will be able to have access to the financing of these projects with certain criteria of transparency and access to information in order to make their decisions.

And this is where, from our point of view, is the true innovation of this project. The interconnection of all the agents involved is done through 2 new concepts mainly: BR (blockchain representative), ViP (Virtual Image Part).

BR: Blockchain Representative

Representatives are the key figure in this ecosystem. In fact, representatives have access to project information, and can prepare their reports or have certain conclusions about the projects.

His job is to prepare reports and advice both companies that have blockchain developments. In addition, above all, regarding potential investors. These investors are going to advice on possible investments, and they will do well, because the possible remuneration depends on it. So they want to do it well because they are putting their reputation at stake. And that is the key, the reputation.

ViP: Virtual Image Part

This is where the reputation key comes from. Each of the BRs will be encoded with a token. We would say that your reputation is quantified and that way you can increase or decrease in value according to your successes and as reliable as they are.

In this way, investors can turn to them when choosing correctly the project in which they invest. They can compare the value of the VIP of the various BRs, and hire the one they deem appropriate, and then evaluate their ability to continue modeling the ViP of that particular BR.

Each BR has a great motivation to do a good job and be valued and also be able to charge more for their work, of course.

Therefore, we have already built the basic mechanism that will make the system works; nobody wins by not fulfilling their obligations.

Their Token and the ICO

The Billcrypt system interconnects blockchains based on Solidity, the programming language of the Ethereum network smart contracts. The BILC native token with the following characteristics will be used for this operation:

  • Name: Billcrypt
  • Symbol: BILC
  • Technology: ERC-20 token
  • Total amount: 152,000,000
  • Partition: up to 8 decimals.

We have two ways to acquire BILC tokens.

They can be acquired during the ITO phase of the project, in which you can send ETH to the platform’s smart contract, and immediately receive the tokens at the address from which the payment was made.

On the other hand, tokens can be obtained by collaborating with the project and with the popular “bounty”. For which we will have to register on the page and access the jobs and tasks they have available.

Summary

If you are looking for a place to invest or to make a career as an analyst, this may be your place.

Official links

Facebook: https://www.facebook.com/groups/BILLCRYPT/

BTC, ETH, XRP, BCH, BSV, LTC, EOS, BNB, XTZ, ADA – BTC Ethereum Crypto Currency Blog

The crypto markets are in a strong bull trend but the rally could hit rough weather as the uptrend begins to look overextended.

The total crypto market capitalization has topped $300 billion for the first time since early-August of 2019. This shows that the bulls are back in action. Interestingly, it is not only the crypto markets that have been moving up, even the US stock markets have been making new lifetime highs in 2020. 

Currently, the Dow Jones index is currently close to 29,500 points. However, Fundstrat Global Advisors co-founder, Tom Lee, believes that Bitcoin will pip the Dow Jones for the race to 40,000

Chicago Mercantile Exchange chief economist Bluford Putnam echoed the popular belief that Bitcoin is a non-correlated asset and can be a valuable addition to traditional portfolios. Due to Bitcoin’s high volatility, Putnam suggested a 2% allocation to Bitcoin in the typical hedge-type portfolio, which normally holds 60% stocks and 40% fixed income assets, such as bonds.

Daily cryptocurrency market performance. Source: Coin360

Bitcoin remains the largest cryptocurrency in focus but throughout this recent rally many altcoins that have led from the front. This shows that the market participants are diversifying away from Bitcoin and are buying altcoins that have strong potential.

Will altcoins continue to lead this rally or will Bitcoin pick up momentum? Let’s analyze the charts to find out. 

BTC/USD

The bulls are attempting to push Bitcoin (BTC) above the overhead resistance at $10,360.89. If successful, a rally to the long-term downtrend line at $11,500 is possible. The upsloping moving averages and the RSI in positive territory show that bulls have the upper hand.

BTC USD daily chart. Source: Tradingview

In Aug. and Sep. of last year, the bulls had failed to push the price above $11,000. Therefore, we expect several hurdles between the current levels and the downtrend line. 

However, if the bulls do not give up much ground during corrections, it would increase the possibility of a break above the downtrend line. Above this level, there is a minor resistance at $13,973.50. If this level is scaled, a retest of the lifetime highs is likely.

The first sign of weakness would be a break below the 20-day EMA and a possible change in trend would be signaled if the bears sink the BTC/USD pair below $9,097.15. Therefore, the traders can retain the stop loss on the remaining long positions at $8,900. The stops can be trailed higher after the price sustains above $10,360.89.

ETH/USD

Ether (ETH) has broken above the overhead resistance at $235.70 without much difficulty, which is a huge positive. This shows that the sentiment is strongly in favor of the bulls. The next level to watch out for is $289.221 and above it $318.238.

ETH USD daily chart. Source: Tradingview

Both moving averages are sloping up and the RSI is in the overbought zone, which shows that bulls are in command. During strong up moves, the RSI can remain in overbought territory for an extended period of time. 

Therefore, we do not suggest closing a trade just because the RSI is in the overbought zone. Nonetheless, the deeper the RSI rises into the overbought territory, the more vulnerable the asset is to a correction. Therefore, it is prudent to protect the paper profits with a close stop loss.

Our bullish view will be invalidated if the ETH/USD pair turns down from the current levels and sustains below the breakout level of $235.70. Therefore, the traders can trail the stop-loss on the remaining long positions to $210.

XRP/USD

After a few days of consolidation, the bulls have pushed the price above the long-term downtrend line. This is a huge positive as it increases the possibility of a new uptrend in XRP. The next level to watch out for is $0.31503.

XRP USD daily chart. Source: Tradingview

We spot a rounding bottom pattern, which will complete on a breakout and close (UTC time) above $0.31503. This pattern has a target objective of $0.45538. Though there is a minor resistance at $0.34229, we expect it to be crossed. 

Our bullish view will be invalidated if the price turns down from the overhead resistance at $0.31503 and plunge below the most recent low of $0.26362. Therefore, the stops on the long positions can be trailed to $0.26.

BCH/USD

Bitcoin Cash (BCH) has resumed its up move. It can now move up to the psychological resistance at $500 and above it to the resistance line of the ascending channel at about $522. 

BCH USD daily chart. Source: Tradingview

We anticipate the bears to mount a strong defense in the $500 to $522 range. The deeply overbought reading on the RSI also signals the possibility of a minor correction or a period of consolidation.

However, as long as the price remains inside the ascending channel, its uptrend remains intact. The first sign of weakness will be a break below the support line of the ascending channel.

BSV/USD

Bitcoin SV (BSV) has resumed its up move towards the lifetime highs at $458.74. With both moving averages sloping up and  RSI close to the overbought zone, the advantage is with the bulls.

BSV USD daily chart. Source: Tradingview

However, the bears will attempt to stall the up move in the $373.653-$411.074 zone, which corresponds to 61.80% and 78.60% Fibonacci retracement level of the recent pullback from the peak of $458.74 to the trough of $236.

Any pullback in the BSV/USD pair is likely to find support at $337.80. A breakdown of this support will indicate a lack of demand at higher levels.

LTC/USD

Litecoin (LTC) is close to the overhead resistance at $80.2731. If the bulls can push the price above this resistance, it will be a huge positive. The next level to watch on the upside is $96.439, which is the target objective of the breakout from the rounding bottom pattern.

LTC USD daily chart. Source: Tradingview

Both moving averages are sloping up and the RSI is in the overbought territory, which suggests that bulls have the upper hand. 

The first sign of weakness will be a break below the 20-day EMA. Below this level, the next critical support is $66.1486. Our bullish view will be invalidated if the bears sink the LTC/USDT pair below this support.

EOS/USD

EOS has resumed its up move towards the first target objective of $6. This is a huge positive. We anticipate the bears will defend the $6 levels aggressively. The RSI has risen deep into the overbought zone, which also suggests a possible correction or consolidation in the next few days.

EOS USD daily chart. Source: Tradingview

Any pullback from the overhead resistance level is likely to find support at $4.8719. If the price rebounds off $4.8719, the bulls will attempt to resume the up move. Above $6, the next level to watch out for is $7.60.

However, if the bears sink the price below $4.8719, the correction can extend to the next support at $4.24. A break below this level will turn the trend in favor of the bears. 

BNB/USD

Binance Coin (BNB) has sustained above $23.5213 for the past three days, which confirms the breakout. It can now move up to the next target objective of $29. Though the trend remains up, the deeply overbought reading on the RSI suggests a possible correction.

BNB USD daily chart. Source: Tradingview

Any dip is likely to find support in the $23.5213 to $21.80 zone. If the price bounces off this zone, the bulls will again attempt to carry the price to $29 and above it to $32.

Our bullish view will be invalidated if the bears sink the price below the support zone. Therefore, traders can keep the stop loss on the entire long position at $21.

XTZ/USD

The momentum in Tezos (XTZ) has carried the price above $3.35, which was the target objective of the breakout from the ascending triangle. Though the trend remains up, the rally following the breakout from the triangle has been vertical. Such rallies are usually not sustainable. 

XTZ USD daily chart. Source: Tradingview

The sharp pace of the rally has pushed the RSI deep into the overbought territory, which increases the possibility of a pullback. The pullback can drag the XTZ/USD pair to $2.67141380, which is the 38.2% Fibonacci retracement level of the recent leg of the rally from $1.4576 to $3.4217.

We believe that the risk to reward ratio at the current levels is skewed to the downside. Hence, traders should protect their positions with a suitable stop loss and should not get carried away by greed.

ADA/USD

The bulls have pushed the price above the overhead resistance at $0.065229. If the bulls can sustain the breakout, Cardano (ADA) can move up to its first target objective of $0.08 and above it to $0.10.

ADA USD daily chart. Source: Tradingview

However, this leg of the up move has pushed the RSI deep into the overbought territory. This suggests that a pullback might be around the corner. 

The first support on the downside is $0.065229. If the ADA/USD pair bounces off this support, it is likely to climb up to $0.08. 

On the other hand, if the bears sink the price below $0.065229, the decline can extend to $0.0560221. A break below this level will turn the trend in favor of the bears. The traders can trail the stop loss on the remaining long positions to $0.06.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.

Market data is provided by HitBTC exchange.

Original Article
Author: btcethereumadmin