Cardano updates Daedalus wallet ahead of Shelley incentivized testnet launch
Cardano has announced that a new update of the Daedalus wallet has gone live on the Cardano mainnet. The update, which comes just days before the Shelley incentivized testnet is set to launch, will bring about new features such as an integrated newsfeed and redesigned user interface.
Cardano’s Daedalus wallet gets a facelift
Cardano has been making serious strides in the past weeks, introducing several new projects and collaborations, as well as preparing for the launch of Shelley’s incentivized testnet. The latest major update to come from the company was the upgrade of its native Daedalus wallet.
Version 0.15.0 of the wallet has been released on the Cardano mainnet on Oct. 31 and has brought about “important” changes to Daedalus, the company said in a blog post.
Apart from a redesigned user interface, the main change the update brought about was the addition of a newsfeed. Daedalus users will now be able to have four different types of news about the latest developments in the crypto industry delivered to them via the wallet.
The update also introduced a new wallet recovery phrase verification system, which will warn users if their recovery phrase has not been verified for a long period of time.
New features and fixed issues aimed to make Daedalus more user-friendly
The goal of the update, apart from introducing several new features, was to fix issues users reported with the previous version of Daedalus. According to the company’s blog post, issues with the user interface seemed to be the prevailing problem.
To solve that, v0.15.0 improved checks on the available hard drive space, introduced transparent scroll bars to free up space and repositioned icons for external links and clipboard copying.
However, the new update prevents users in Japan from redeeming their vouchers from the ADA pre-sale directly from the Daedalus interface.
These user experience-centered improvements come just days before the incentivized testnet for the Shelley era of Cardano is set to launch. A large number of users are expected to transfer their ADA to Daedalus in preparation for the network snapshot. In an AMA earlier this month, the Cardano team explained that the snapshot will be taken to determine the state of the network, after which all of the ADA held by the users will be transferred to the testnet.
Users who earned ADA by staking or delegating on the testnet will be able to withdraw it to the mainnet and transfer them back to their wallets.
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Original Post: Cardano updates Daedalus wallet ahead of Shelley incentivized testnet launch
S&P 500 Has More Runway for Gains in Short-Term: Stock Market Prognosticator
Ethereum May Be Gearing Up for Bullish Movement as On-Chain Volume Declines
Ethereum (ETH) has been closely tracking Bitcoin’s price action over the past several days and weeks and was able to incur some bullish momentum this past Tuesday separate from Bitcoin, although this movement was short-lived and was closely followed by a retrace back towards its current price levels.
Analysts are now nothing that Ethereum may currently be positioned for a noteworthy bullish movement in the near-term, as it is currently trading just above a region with massive support.
Ethereum Finds Strong Support at $180
At the time of writing, Ethereum is trading up marginally at its current price of $183.85, which marks a slight climb from its recent lows of $180 that were set overnight.
ETH’s sharp bounce after visiting $180 signals that there is notable support in this region, which is further supported by the fact that it has been finding support around this level in the time since it incurred a massive rally that sent it up to highs of nearly $200 last week.
In the time following this rally, the cryptocurrency has found strong resistance around the lower-$190 region, which may signal that the crypto is currently caught within a relatively tight trading range between $180 and $190.
The formation of this tight trading range has come about amidst declining on-chain volume, which has dropped 11% over the past 24-hours, according to data from TokenAnalyst.
“4H #ETH Network Stats: Price: $185.19 (-0.9%). $ETH On-Chain Volume: $371M (-11.1%). Active Senders: 228K (-0.9%). Active Recipients: 96K (-4.4%),” they noted in a recent tweet.
ETH May Be Positioned for Further Gains in Near-Term
As for which direction ETH will move once it breaks free from this bout of consolidation, analysts are currently noting that the strong support region directly below Ethereum’s current price gives bulls an edge over bears.
Mayne, a popular cryptocurrency analyst on Twitter, spoke about this in a recent tweet, explaining that he is currently bullish on ETH based on its weekly chart while pointing to the significant support that lies directly below its current price.
“$BTC probably isn’t going to $16k today. But, looking at the weekly charts for it and $ETH I can’t help but be bullish. Still, a lot of salty bears under my posts. I’m going to redeem ICT’s name by catching the bottoms on both with order blocks,” he said while referencing the charts seen below.
The coming few days will give traders and analysts alike significant insight into which direction Ethereum and the aggregated crypto markets will head next, and it is highly probable that this will be largely based on Bitcoin’s performance in the near-term.
Featured image from Shutterstock.
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Original Post: Ethereum May Be Gearing Up for Bullish Movement as On-Chain Volume Declines
Binance’s Changpeng Zhao Declares Russia as a Key Market
Binance CEO, Changpeng Zhao believes Russia is a key market for the exchange. The cryptocurrency big whale revealed during his visit to the Radisson hotel in central Moscow on October 21, 2019. Zhao Speaks About Russia’s Relevance to Binance It was the CEO’s first visit to Russia and his popularity in the crypto world came
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Original Post: Binance’s Changpeng Zhao Declares Russia as a Key Market
Market Mostly Trades Sideways as Bitcoin Price Hovers Around $9,100
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Bullish for Bitcoin? Analyst Warns of Growing Motives for Global De-Dollarisation
A group of “very powerful nations” is increasingly making moves to reduce their dependence on the US dollar according to a global security analyst. Traditionally a planetary store of value, will Bitcoin benefit from such a global exodus from the dollar?
Anne Korin of the Institute for the Analysis of Global Security identifies strong motives inspiring China, Russia, and Europe to ditch the dollar as the asset favoured for global trade. She describes the situation as “unsustainable”.
Could Nations Turning Away from the Dollar Benefit Bitcoin?
Korin, the co-director of the Institute for the Analysis of Global Security, appeared on CNBC’s “Squawk Box” segment yesterday to discuss what she described as “major movers” away from the dollar. For the analyst, one of the main motives driving countries to de-dollarise is potential censorship by Washington.
Korin argues that dollar dependence leaves nations wishing to do trade with those sanctioned by the US at risk of punishment by Washington. She mentioned the current US sanctions against Iran prohibiting big European companies from trading with the nation.
Through sheer convenience, most global trade is conducted in US dollars. However, dollar payments are cleared through US banks and are subject to the censorship of that bank (which is in turn behest to the Federal government). This means that transactions between entities that might have nothing to do with America are subject to US jurisdiction.
Of course, Bitcoin use is free from the kind of financial censorship that is seen in examples like Argentina’s recent dollar buying restrictions, payment networks terminating services to certain political groups around the world over the years, and the examples mentioned by Korin to CNBC. However, it still a huge leap to think that Bitcoin would suddenly be favoured by the planet’s most powerful nations.
That said, what Korin’s interview does highlight is that financial censorship isn’t just a matter for those living under authoritarian regimes or times of immense economic strife. Some of the most powerful nations on the planet are starting to kick back at Washington’s control over global finance.
One of the symptoms of this urge to de-dollarise is China’s own efforts to internationalise the yuan. The analyst cited the nation’s launch of yuan-denominated crude oil futures as evidence of this. Whilst admitting that 90 percent of oil trade is still done in dollars, Korin said:
“If you have a sort of a beginning to crumble away [at] the dominance of the dollar over oil trade, that’s a nudge in the direction of de-dollarisation.”
In terms of the future, Korin said that she didn’t know how the situation would play out and could only say that it was “unsustainable.”
Related Reading: Will a Surprise $7K Bitcoin Pump on Halloween Fulfill the Prophecy of Asuka?
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Original Post: Bullish for Bitcoin? Analyst Warns of Growing Motives for Global De-Dollarisation
Bitcoin Needs ‘Real Use Cases’ to Become Digital Gold, Says ICE Chief
Ethereum (ETH) Could Crash Hard If It Plunges Below $180
Ethereum dominance (ETH.D) has declined below the key 38.2% fib extension level and has now entered a bear trend. We expect Ethereum dominance to decline sharply in the days and weeks ahead. The next level of support for Ethereum Dominance (ETH.D) is the 61.8% but long term it is likely to decline much lower. As Bitcoin dominance continues to rise, we would see Ethereum and other altcoins experience more pain. Most altcoins recently declined below key support levels against Bitcoin (BTC). As the market enters another downtrend, we will see more cryptocurrencies experience further pain and eventually most blockchain projects that do not have a good use case would be wiped off the market.
The cryptocurrency market is a nascent market but unlike startups, most cryptocurrencies in this market are not backed by any business. In other words, you are not buying stake in the business by buying those coins. This raises serious concerns as to the valuation of most of the projects. Even though cryptocurrencies like Ethereum (ETH) are utility tokens that do not have to be backed by a business or provide stake in the company, it is still a fair question whether the token is worth its current price. In my opinion, it still quite overpriced considering the utility of the network and the overall demand. We now have other blockchains that can do what Ethereum (ETH) is doing which does raise the question whether Ethereum (ETH)’s valuation is fair.
Most of us are aware that Ethereum (ETH) owes much of its rise in valuation to a large number of ICOs conducted on the platform. In order to participate in those ICOs, you had to buy Ethereum (ETH). Considering the current sentiment towards ICOs and how it will be affected in the near future as more and more ICO projects go belly up, it is a fair question to ask whether Ethereum (ETH) will be able to maintain its valuation. Keeping fundamentals aside, even the technicals do not support that. We can see on the 4H chart for ETH/USD that the price is ready to decline sharply soon as it breaks below $180.
At this point, most investors are waiting for another pump just like the one we saw before. As unreasonable as that may be, that is what a lot of traders are expecting after the recent pump because they think the market has just flipped bullish and we will continue to see more and more of these pumps when all it has been was the big players trying to sell into short squeezes. Now that they have run out of bears, they want to trap in as many bulls as possible before they pull the trigger. Needless to say, retail traders will be hurt. There is nothing wrong with being bullish on the market but it is important to ask why.
Original Post: Ethereum (ETH) Could Crash Hard If It Plunges Below 0
Bitcoin Monthly Candle to Close Around $9,300: Bullish or Bearish?
In the next few hours, Bitcoin will see its monthly candle for October close. As the cryptocurrency has been subject to immense volatility over recent weeks, this close will be immensely important for Bitcoin’s directionality for the next few months.
So, with BTC seemingly poised to close October around $9,300, what are analysts saying?
Bitcoin Looking Relatively Strong
Stackin’ Bits posted the chart below recently, with the attached caption “yin/yang.” According to the chart, BTC remains above the red pivot line at around $8,700, presumably implying that it is still in the “yin” range, or bullish.
Crypto HornHairs echoed this seeming sentiment. He noted that there is a confluence of signs that imply Bitcoin is closing October bullish. This confluence is centered around the idea that BTC remains above the one-month bullish breaker, 0.618 Fibonacci Retracement, a yearly pivot, among other key levels. He thus claimed that he expects for the cryptocurrency to hit $14,000 before $7,000.
Bearish Continuation Possible
While Bitcoin’s monthly candle doesn’t look bad in and of itself, it could be viewed as a sign of impending bearish continuation when placed into context.
Below is an image outlining the “Three Black Crows” technical analysis pattern. As NewsBTC reported in an earlier report, Bitcoin’s chart printed this pattern after September’s close, which many say is a sign of an extremely strong trend reversal, especially on long-term time frames like the monthly.
While some have argued that the Three Black Crows were invalidated by Bitcoin’s massive 25%+ surge over the past week, some textbook examples of the pattern, like the one above, show one green recovery candle, before further losses in following trading sessions. This, of course, could play out with Bitcoin heading into the end of 2019.
Featured Image from Shutterstock
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Original Post: Bitcoin Monthly Candle to Close Around ,300: Bullish or Bearish?
Libra Chief Praises Its Anti Money Laundering Standards
Libra Chief David Marcus has claimed that the Anti Money Laundering Standards of the underfire project are superior to any other payment networks on the market today.
Libra Scrutiny Means Its On Track, Says Chief
Marcus is the CEO of Calibra, the corresponding digital wallet of Libra, and previously served as president of PayPal and a member of the Board of Directors at Coinbase. Speaking at the Money 20/20 conference in Las Vegas, he said, “I want to say that the efficacy of sanction enforcing can be much higher on Libra than other payments networks.” He ...
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Twitter CEO, Jack Dorsey Gambles on Cryptocurrency
CEO of social media platform, Twitter, Jack Dorsey has made investments in the cryptocurrency company CoinList, supporting their initial coin offering (ICO).
Jack Dorsey, a billionaire entrepreneur earlier launched Square Crypto, the crypto arm of the fintech giant Square. He is an ardent supporter of Bitcoin and believes it’s well-positioned to become the native currency of the internet. Besides, the Bitcoin advocate, already worked with Lightning Labs to create the Bitcoin Lightning Network on Square’s Cash App.
Interestingly, Dorsey spoke to the Wall Street Journal and pointed out that CoinList appeared as an honest answer for coin launches. Dorsey said: “Crypto needs a trustworthy platform for launching new projects. CoinList also leads the industry in that role, and trading is a logical next step.”
According to the Australian Financial Review, Dorsey believes emerging asset class allows his company to work on other services like hardware. As well as, analytics and payroll, and lending, not only money transmission or payments.
Quite a few dollars raised
Aside from Jack Dorsey, Polychain Capital, a San Francisco-based digital asset investment fund participated in CoinList’s funding round. Also, the Collaborative Fund took part. Accordingly, CoinList raised $10 million, and Jack Dorsey appeared as the only publicly listed investor on CrunchBase.
CoinList’s blog post said: “We’re excited to share that we have closed a $10MM fundraising round, led by Polychain Capital. Polychain was an existing investor of ours, but we’re happier partnering more deeply with the leading venture fund in crypto. Our other existing investors also participated, and we added two more fantastic partners, Jack Dorsey, and Collaborative Fund.
Importantly, the investments go directly into the growth of CoinList Trade (a newly founded exchange that works with a crypto wallet).
Trading can be carried out on the exchange in 38 US states and some international jurisdictions. The exchange also supports ACH and wire transfers, allowing the usage of a US Dollar-denominated wallet.
Additionally, the exchange supports trading pairs with BTC, ETH, ALGO, USDC. Also, USD and other upcoming cryptocurrencies.
Besides, CoinList emphasized its commitment to providing financial services. “We want token creators to focus on what they do best, building world-changing products. We’re here to help with everything else from token sales, trading, developer engagement, and more,” the post claimed.
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Original Post: Twitter CEO, Jack Dorsey Gambles on Cryptocurrency
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CoinGecko Has Improved its Website with New Derivatives Feature
CoinGecko has launched its very own cryptocurrency derivatives section, tracking the growing number of derivatives products.
According to reports, the section encompasses about 100 such products like perpetual swaps and futures from about 20 derivatives exchanges.
Besides, the cryptocurrency data aggregator becomes the first to offer free, unimpeded access to aggregated crypto derivatives data like price. Other include interest, basis, funding rates, expiry dates, and trading volume.
CEO of CoinGecko, TM Lee pointed out that the firm plans to add more metrics in the future. As well as, options and leveraged tokens offered by various exchanges. Quoting him: “We hope to empower traders with more data that they can use to make better-informed decisions. We’re excited about the potential growth of crypto derivatives. Therefore, we want to further democratize data access as we continually commit to the maturation of the digital asset space.”
The supported derivatives can be accessed in different ways, such as by isolating products from certain exchanges.
However, the derivative section doesn’t support products from some popular derivatives providers like CME and Bakkt for now. Although, reports state that its due to the need for a reliable API for the data and other exchanges would join soon.
Before now, only a few platforms like Skew offered data providers the opportunity to monitor derivatives based on cryptocurrencies. However, CoinGecko now joins the pack.
CoinGecko stands as one of the largest and first crypto data aggregators, operating since 2014. Accordingly, it tracks about 3,300 tokens across over 260 cryptocurrency exchanges. CoinGecko aims at elevating crypto participants’ understanding of fundamental factors that drive the market.
Accordingly, the platform provides a fundamental analysis of the crypto market. It also tracks price, volume and market capitalization. Not forgetting community growth, open-source code development, major events, and on-chain metrics.
CoinGecko also launched Trust Score 2.0 to help combat the problem of fake volume. Trust Score commenced operations in May 2019 providing insights into exchanges liquidity using order book and web traffic analysis. Besides, Trust Score 2.0 provides a major upgrade by introducing four new measurements. They include exchanges’ API technical coverage, the scale of operations. As well as, estimated cryptocurrency reserves and regulatory compliance. TM Lee said: “We must provide critical and actionable data to our users. The launch of Trust Score 2.0, ensures progress to promote transparency amongst cryptocurrency exchanges.”
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Original Post: CoinGecko Has Improved its Website with New Derivatives Feature
Users of decentralized exchange 0x will be able to vote on the next protocol upgrade
0x, a decentralized exchange protocol that enables token trading on the Ethereum network, announced that it has finalized plans for its next major update, that will be decided on by its users. All ZRX token holders will be able to cast their vote from Nov. 4 to Nov. 11, the company said.
Next updates to 0x to be decided by the ZRX community
Decentralized exchange protocol 0x announced that it has finalized its plans for the next major upgrade to the network. The protocol, which runs on Ethereum allowing ERC20 tokens to be traded on the Ethereum blockchain, is set to see its third version, 0x v3, come to life at the end of November. The company said:
“Version 3 of 0x is a major protocol upgrade that will establish 0x as the DEX + liquidity aggregator for the greater DeFi ecosystem.”
The holders of 0x’s native ZRX token will be able to decide whether the update goes through by casting their vote on the platform. The company said voting will begin on Nov. 4 and last until Nov. 11. If the v3 update gets approved, it will launch on the Ethereum mainnet after a two-week grace period, on Nov. 25.
V3 to bring more liquidity to the Defi ecosystem
While v3 will bring about quite a bit of innovation to 0x, most of them will focus on improving the protocol’s position in the DeFi space. The 0x team said that they developed “a powerful set of bridge contracts” that aggregate DEX liquidity both from 0x and other networks such as Kyber and Uniswap.
The company explained:
“With Liquidity Bridges, 0x becomes a one-stop-shop to source the best prices for both popular and long-tail trading pairs across DEXs.”
The upgrade will also bring about a ZRX staking mechanism that gives market makers monetary rewards (in ether) and additional ZRX voting power for providing liquidity.
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Original Post: Users of decentralized exchange 0x will be able to vote on the next protocol upgrade
eToro Can Teach You to Trade like DataDash
eToro, the well-known platform for trading securities, cryptocurrencies, and other assets, offers users to earn crypto. How? By following the techniques of famous crypto traders.
eToro has just added a new crypto trading tool called CopyTrader, which tracks the activities of famous traders and allows users to repeat them. The service is now available to customers in the US.
The main task of the CopyTrader tool is to track the activities of famous traders and repeat them.
According to Guy Hirsch, U.S. managing director of eToro: “CopyTrader can help anyone to build their wealth in a simple and transparent way. Users who want to leverage the crypto asset class can now simply look for an investor with a proven track record. And just hit copy to execute the same trades automatically.”
He also added that eToro “had to identify a number of traders with “significant” trading experience and track record.”
Thus, the platform suggests following Nicholas Merten (DataDash), RhythmTrader and martial artist Ben Askren of the Ultimate Fighting Championship.
Alec Baldwin, a famous Hollywood actor, is the ambassador of the new CopyTrader tool. A commercial ad involving him was released on YouTube on Tuesday, October 29th.
About the eToro activities
eToro is an Israeli-based multi-active platform. It provides opportunities for investing in stocks and cryptocurrencies, as well as trading CFD assets.
The cryptocurrency trading option was activated in January 2017. Originally, it offered to trade Bitcoin, Ethereum, Litecoin, and Ripple. Now, you can trade 15 different cryptocurrencies on the platform.
The company has over 11 million permanent users in 140 countries. Besides, its annual trading volume reaches one trillion dollars.
In April 2010 eToro launched a fully regulated crypto exchange, eToroX. Currently, it offers 71 trading pairs.
Previously, Altcoin Buzz reported that eToro developed a tool for assessing investors’ sentiments.
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Original Post: eToro Can Teach You to Trade like DataDash
Chi-X Kicks Against ASX’s Move to Replace CHESS with Blockchain
The Australian Securities Exchange (ASX), the nation’s primary securities exchange, is putting preparations in top gear to integrate distributed ledger technology (DLT) into its operations and replace the existing Clearing House Electronic Subregister System (CHESS) with the revolutionary technology. However, Chi-X, ASX’s client and only competitor, has appealed to the region’s competition regulator to point
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Original Post: Chi-X Kicks Against ASX’s Move to Replace CHESS with Blockchain