Bitcoin News — Ethereum
Posted by Michael Taiberg on
Bear markets refine industries. Overall sentiment becomes negative from all angles, and naysayers proclaim that crypto is “dead.”
Underneath all the fear, uncertainty and doubt, though, developers are still building.
Case in point, Go-Ethereum (or geth), a command-line interface for running an Ethereum node using the Go programming language, is now the fifth fastest growing open-source project in GitHub
For the uninitiated, geth is the official Go implementation of the Ethereum protocol. At the time of writing, go-ethereum has over 10,000 commits on GitHub as well as over 21,000 stars, indicating the amount of developer interest for the project in this iteration is high.
Why Geth Over Eth and Pyethapp?
Go, commonly referred to as Golang, was developed by Google engineers Robert Griesemer, Rob Pike and Ken Thompson. Per the golang.org website, “Go was born out of frustration with existing languages and environments for the work we were doing at Google.”
The language enables higher productivity than languages in an era of complex processors and large computer networks. Consequently, it has been adopted by developers around the world.
Go-ethereum is by far the most active project in the Ethereum ecosystem, but there are several important projects that are not far behind. There are other client languages including eth, a C++ client and pyethapp, a python-friendly client.
“Aleth,” Ethereum’s official C++ client, and “EIPs,” the official Ethereum Improvement Proposal repository, are two of the most active repositories behind go-ethereum when looking at indicators like commits, forks, stars and contributors. Solidity, Ethereum’s smart contract programming language, is also highly active. Activity can be difficult to measure sometimes, so it is important to understand what these indicators mean.
Commits are defined as a moment when a developer saves their work at a specific point. Therefore, it can be misleading when a project is showing lots of commits, as it may just mean someone has been tediously saving their work every step of the way.
Forks, in GitHub, are copies of code made so that a developer can freely make edits to the code without affecting the original implementation. They are generally used for implementing future changes that will be proposed to the original code.
Stars can be viewed as a “favorite” button, used simply as a means of keeping tabs with a certain project as it develops, and contributors are a measure of how many individual GitHub accounts have, well, contributed in any way.
Go-ethereum currently has 10,200 commits, 7,332 forks, 21,229 stars and 345 contributors.
At the time of writing, aleth has 32,939 commits, 2,109 forks, 3,404 stars and 138 contributors. EIPs has 1,302 commits, 1,125 forks, 3,858 stars and 149 contributors. Solidity has 11,635 commits, 1,641 forks, 6,130 stars and 276 contributors.
This article originally appeared on Bitcoin Magazine.
Posted by William Suberg on
Genesis Global Trading says it has seen an “incredibly strong reception” from institutional clients
Institutional cryptocurrency over-the-counter (OTC) broker Genesis Global Trading revealed its loans spin-off processed over half a billion dollars in its first six months in a new report Thursday, Oct. 18.
Genesis, which began its digital asset lending activities in March, revealed its current order book consists of $130 million in outstanding loans, a figure which has “steadily grown” since inception, it says.
Total cash flow reached $553 million for all supported assets.
“Over the past year, through client feedback and the rise of derivative marketplaces, we saw a meaningful increase in the number of market participants wanting to borrow and/or lend digital currencies,” the company summarized about its motivation to move into the loans market.
Trends over its first half of a year’s trading consist of a reduction in Ethereum (ETH) loans and the rise in popularity of loans in other altcoin assets in Q3, with Bitcoin (BTC) staying “consistent” throughout.
The type of client using the platform has also changed over time, with hedge funds dominating at the start but since giving way to trading and arbitrage firms.
“These firms generally borrow digital assets to trade against derivatives like futures and swaps,” Genesis said, concluding:
“We believe this kind of activity will continue to pick up as derivative markets mature.”
Q4 2018 is set to see the market debut of at least one major institutional investment solution for cryptocurrencies, likely Intercontinental Exchange’s “regulated ecosystem” Bakkt, which will initially offer physical Bitcoin futures.
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- Tags: Altcoin, Bitcoin, Bitcoin Cash, Cryptocurrencies, Ethereum, Ethereum Classic, Lending, Litecoin, Loans, Ripple
Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Stellar, Litecoin, Cardano, Monero, TRON: Price Analysis, October 17
Posted by Rakesh Upadhyay on
While institutional investors take their time to enter the market, is it worthwhile to buy and hold or is there a risk of a further fall? Let’s find out.
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 the HitBTC exchange.
While crypto markets have given up much of their Oct. 15 gains, they are still trading well above the recent lows, which is a positive sign. A knee-jerk reaction to a news event can propel the markets only to a certain level, after which fundamentals take over. The next leg of the up move will be based on strong fundamental news flows.
Crypto markets have been waiting for institutional investors to take it to the next level. Mike Novogratz, CEO and Founder of Galaxy Investment Partners believes that larger players might enter the markets in Q1 or Q2 of next year, pushing it to new highs.
The launch of Fidelity Digital Asset Services, by leading U.S. investment firm Fidelity, is a step in the right direction, providing institutional players a “secure, compliant, and institutional-grade omnibus storage solution for Bitcoin, [Ethereum] and other digital assets.”
However, larger players are likely to test the waters before jumping in, which may take some time. Until then, is it worthwhile to buy and hold or is there a risk of a further fall? Are any of the top cryptocurrencies showing a reliable buy setup? Let’s find out.
After the spurt on Oct. 15, Bitcoin has been consolidating just below the overhead resistance at $6,831.99. Ideally, after invalidating a bearish pattern, the price should have rallied, but that has not happened.
Now, if the bulls fail to scale the resistance levels quickly, it will invite selling by the bears. A drop below the moving averages will retest the critical support zone of $6,075.04–$5,900.
Though the BTC/USD pair has broken out of the downtrend line of the descending triangle, it has not picked up momentum. The moving averages remain flat, which shows equilibrium between the bears and the bulls.
The balance will tilt in favor of the bulls if the virtual currency sustains above $6,831.99. The upside targets to watch are $7,400 and $8,400. Traders holding long positions can maintain the stop loss at $5,900.
The next few days are critical and will provide an insight on the next direction of the digital currency.
Though Ethereum continues to consolidate, the bears have pushed it down towards the lower half of the range. The price is trading below both the moving averages and the RSI is also in negative territory.
If the bulls fail to scale the moving averages within the next few days, the ETH/USD pair might retest the support at $192.50, below which a drop to the Sept. 12 low of $167.32 is probable.
Contrarily, a rally above the overhead resistance will indicate strength and can carry the digital currency to the next resistance at $322.57. Therefore,traders should wait for a close (UTC time frame) above $249.93 before initiating any long positions.
Among all the top 10 cryptocurrencies, Ripple is the only one that has risen above its Oct. 15 intraday high. It is also trading above the moving averages, which is a positive sign.
The XRP/USD pair is on track to move up to $0.50 where it might face some resistance. Above this level, a rally to $0.55 and $0.625 is probable.
If the digital currency turns down from $0.50, it can decline to the 50-day SMA, which should act as a support. Both the moving averages are flat and the RSI is close to the midpoint. This points to a consolidation in the short-term.
Bitcoin Cash continues to trade inside the symmetrical triangle as a breakout or a breakdown evades it.
The BCH/USD pair is trading below the moving averages and the 20-day EMA is turning down. The RSI is also in negative territory; which shows that the bears have an upper hand.
A breakdown of the triangle will resume the downtrend, with minor support at the Sept. 11 low of $408.0182. The digital currency will show strength if it breaks out of the triangle. The traders can keep the stop loss on their existing long positions at $400.
EOS is currently trading close to the midpoint of the $6.8299–$4.4930 range. Both the moving averages are flat and the RSI is also in neutral territory. This shows that neither party has an upper hand.
A new uptrend will start on a breakout and close above the overhead resistance of $6.8299. Such a move can carry the EOS/USD pair to $9 and higher.
On the downside, if the bears break below the immediate support of $5, a fall to the lower levels of $4.49 and $3.8723 is possible. Therefore, traders can protect their long positions with a stop loss of $4.90.
Stellar has been trading above the moving averages, which is a bullish sign. It is currently trying to break out of the downtrend line and the overhead resistance at $0.24987525.
If successful, it will invalidate the bearish descending triangle pattern and rally to $0.36, with a minor resistance at $0.30 probable. Traders can initiate a long position on the XLM/USD pair if it closes (UTC time frame) above $0.27.
On the downside, the digital currency has support at the moving averages and below that in the $0.204–$0.2148 zone. If this zone breaks, a retest of the critical support at $0.184 will be in the cards.
After the surge on Oct. 15, Litecoin has again fallen to the bottom half of the range. Both the moving averages are flat and the RSI is in the negative zone.
If the LTC/USD pair trades below the moving averages for a few more days, the bears might attempt a breakdown of the range once again. Any breakdown of the $47 level will resume the downtrend and push prices to the next support at $40.
The digital currency will form a reversal pattern if the bulls breakout and sustain above $69.279. We don’t find any trade as long as the price remains inside the range.
Cardano is struggling to climb above the moving averages. Currently, it is trading between the 20-day EMA and $0.073531.
Both the moving averages are flat and the RSI is close to the 50 level, which shows a neutral sentiment. If the bears break below the intraday low of Oct. 15, the ADA/USD pair can retest the low at $0.060105.
The digital currency will show signs of strength if it breaks out of the overhead resistance at $0.094256. We suggest traders remain on the sidelines until a new buy setup forms.
Monero has broken below both the moving averages. It is currently trying to stay above $107.80, below which it can slide to the $100 level once again.
Failure of the bulls to keep prices above the moving averages shows weakness. If the bears break below $100, a retest of $81 is probable.
The XMR/USD pair will gain strength above $128.65. Currently, we don’t find any buy setups, hence, we are not suggesting any trade.
After failing to sustain above the overhead resistance on Oct. 15, TRON is currently back in the range. The bulls are trying to keep the price above the moving averages, below which the digital currency can drop to the bottom of the range.
We don’t find any buy setups as long as the TRX/USD pair remains stuck inside the $0.02815521–$0.0183 range. Its next move will start either on a breakout of the range or a breakdown from it.
There have been two intraday breakouts of the range that failed to sustain. Therefore, traders should wait for a close (UTC time frame) above the range before establishing any long positions.
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- Tags: Altcoin, Bitcoin, Bitcoin Cash, Cardano, EOS, Ethereum, Litecoin, Monero, Price Analysis, Ripple, Stellar, TRON
Posted by Ana Berman on
CryptoCompare’s yearly report indicates a tendency to centralize crypto assets, as 85 percent of their developers can change protocols at any time.
Cryptocurrency tracking resource CryptoCompare's recent study has shown that 85 percent of crypto assets allow development teams to alter their platforms. The report was published Wednesday, Oct. 17, on CryptoCompare's website.
To create the report, CryptoCompare reviewed hundreds of crypto and blockchain projects, with experts detecting a tendency towards centralization set by utility tokens that are running on controlled servers.
According to the research, as many as 85 percent of developers can change the protocol on their projects at any moment at their own discretion.
The yearly taxonomy of cryptocurrencies also revealed that 55 percent of existing crypto assets are actually centralized, while 30 percent more are semi-decentralized. As a conclusion, only 16% of all existing crypto assets are considered to be a fully decentralized ecosystem. However, CryptoCompare’s total amount equals 101 percent instead of 100 percent, which might indicate a reporting error.
The situation is slightly less decentralized with tokens utilized as a method of payment. As per the report, almost 41 percent of them are centralized, while another 22 percent are centralized to some extent.
CryptoCompare's study also reveals that most cryptocurrencies can technically be classified securities. To prove this point, they apply to the guidelines established by the Swiss Financial Market Supervisory Authority (FINMA).
Following FINMA’s guidelines, Bitcoin (BTC) and Ethereum (ETH) are not securities due to the lack of an identifiable common enterprise and a high level of decentralization. However, 55 percent of crypto assets could be treated as securities and fall under existing regulation, CryptoCompare states.
As Cointelegraph previously wrote, Canadian mass media and information company Thomson Reuters — which owns major international news agency Reuters — has recently partnered with CryptoCompare. The resource will provide trade data on 50 cryptocurrencies for Reuters’ financial desktop platform, Eikon, which was developed for institutional investors.
Posted by Connor Blenkinsop on
A blockchain company wants to make its technology so easy that “consumers do not know they are using blockchain.”
A blockchain-driven startup believes that blockchain technology has the potential to be more than a “one trick pony designed for investors” – setting the objective of creating cutting-edge technology for fast transactions, and delivering “practical services for real people.”
According to ARK, its entire ecosystem has been built around encouraging the mass adoption of cryptocurrency through a user-friendly platform. The company says its team is determined to ease consumers into blockchain by creating easy-to-use tools and products that gradually increase awareness and general knowledge about the opportunities that blockchain technology provides.
Among ARK’s distinctive features is a development called SmartBridge, which enables its blockchain to interact with any other popular networks, including Bitcoin and Ethereum. “Continuous risk analysis and internal recurring penetration testing is constantly being carried out” to assuage fears about security.
Overall, the company hopes to make blockchain creation and adoption as easy as making a website with Wordpress.
Desktop, mobile, and hardware wallets
ARK believes one of its strengths is its easy-to-use wallets. Syncless, paving the way for “very fast” transactions, they are compatible with all ARK based blockchains and can be customized with plugins and personalized to fit users. Ledger Nano hardware has been built into the wallets for added security.
A major hurdle to cryptocurrencies becoming more popular in public circles has been the risk of transactions being delayed because of congested systems. ARK says its network resolves this by being “one of the fastest in the industry” – with block times being completed in just eight seconds.
ARK also believes that it has managed to protect itself against any potential issues when it comes to scalability in the future. Through the SmartBridge functionality, the platform says it is “able to offload non-essential functions to hundreds of parallel chains.” Therefore, making the team believe that this paves the way “for great scalability, while keeping the main ARK blockchain lean and fast.”
The power of dynamic fees
Another concept put forward by the ARK Network is dynamic fees. This makes ARK the first DPoS based blockchain to achieve this feat, the company says. Here, the speed with which a transaction is processed will hinge upon how much the consumer is willing to pay in terms of fees. The startup hopes that this will deliver financial flexibility to the community without detracting from a “seamless user experience” – and the platform says it will be reviewing this feature’s progress and make tweaks wherever necessary. In short, it means someone who needs their crypto in a hurry can jump to the front of the queue by paying a higher fee, while someone watching their pennies can pay less for transfers as long as they are willing to wait a little longer for it to be processed.
ARK’s website comes complete with detailed updates of how far along it has come in completing certain milestones – as well as providing a due date. For example, at the time of this writing, it was 84 percent through a “total overhaul” of the ARK Core – paving the way for a plethora of new features, including a higher number of transactions per second. It is expected to be released later in October or early November.
Disclaimer. Cointelegraph does not endorse any content or product on this page. While we aim at providing you all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor this article can be considered as an investment advice.
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- Tags: ARK, Arkecosystem, Arkio, Bitcoin, Blockchain, Cryptocurrency, Dpos, Ethereum, Scalability, Security, SmartBridge