Fortnite Going Ethereum? More Likely to be the Community Hoping and Coping

Fortnite Going Ethereum? More Likely to be the Community Hoping and Coping

Popular online video game Fortnite has added a new skin called “Etheria,” which has the cryptocurrency community speculating that it is somehow related to the second-largest cryptocurrency Ethereum.

Aestheticdemon is the concept creator of Etheria.

The name is not the only thing that bears a resemblance to Ethereum. The images circulating online also have an object that looks similar to Ethereum’s diamond-shaped logo.

But this seems to be reaching as by this standard “Call of Duty: Black Ops Cold War” could be into Ethereum as well as an energy source in this game is called “Aetherium Crystals.”

This could very well be a case of Apophenia, trying to perceive meaningful connections between unrelated things.

Ethereum subreddit meanwhile remained hopeful and continued to cope after Ether’s latest sell-off to $1,700, a drop of more than 61% from last month’s peak. One such hopeful Redditor commented, “Eth to 40k confirmed.”

But it’s not just the ETH community; the entire crypto market is looking for a bullish narrative after the latest deep rout — a catalyst to bring back the bullish sentiments and push up the prices again.

Fortnite, however, is no stranger to cryptos or even Ethereum as a year ago, when Reddit launched two types of Ethereum-based cryptos, Moons, and Bricks, they were a hit among the gaming community.

These Ethereum-based “Community Points,” which were also launched in cryptocurrency subreddits, got more interest from gamers than the crypto community and gained more than 10,000 users in just a week.

Epic Games, which has a valuation of about $28.7 billion, launched Fortnite in 2017.

“Fortnite” creator Epic Games said on Tuesday that it now has over 500 million accounts and that it has 2.7 billion friend connections across “Fortnite,” “Rocket League,” and the Epic Games Store. As of June 2020, Fortnite has 350 million registered users.

The video game developer is currently fighting a legal battle with Apple Inc. As we reported last August, the lawsuit claimed that Apple’s anticompetitive conduct eliminates alternative payment options like Bitcoin to be used in the game, which the tech giant confirmed, saying it violated the App store guidelines regarding in-app payments.

Epic Games founder Tim Sweeney is actually very bullish on NFTs and the crypto metaverse. The company raised $1 billion in funding this April to support its long-term vision for the metaverse.

While he called the crypto investment a “wild, speculative mess,” earlier this year, Sweeney added, “the tech is going places.”

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Author: AnTy

Ethereum Holders Not Staking ETH Altogether Is “Not Unreasonable” – ConsenSys DeFi Report

Ethereum 2.0 is likely to launch its genesis block in Q4 2020, says Ethereum developer ConsenSys in its latest DeFi report.

With the launch of the first phase, Phase 0 – Beacon Chain, the long-anticipated staking will come to ETH. The Proof of Stake consensus mechanism will allow the holders to earn rewards through staking Ether. For this, validators have to lock up their ETH. But this may become a problem as the report states,

“Some community members expressed concern that DeFi could be the number one threat to getting a significant amount of staking participation in Eth2.”

The Risk of Locking ETH

DeFi has been the star of Q3 2020 as it saw “the largest bull run since the ICO boom of late 2017 and early 2018.”

This DeFi bull run started with Compound’s governance token (COMP) release, leading to a frenzy of activity and an exuberant amount of yield.

With various DeFi protocols offering higher returns than staking, ETH holders may elect to direct their tokens elsewhere that wouldn’t even require them to lock ETH up for an unspecified amount of time.

“It is not unreasonable to worry that ETH holders would (at best) wait to see how early staking returns compare to DeFi returns, or (at worst) decide altogether not to “risk” locking up ETH until Phase 1.5 (which is likely at least a year away) in case another similar bull run occurs in the meantime.”

But the team sees the emergence of derivative tokens representing the users’ pooled token. As we reported, recently launched project Lido has already announced the same intentions.

However, it remains to be seen how the holders will really react when the time comes with considerations like the amount of liquidity an ETH holder can access, the volatility of Eth1.x vs Eth2, and the evolving user experience of being an ETH holder to play into their decision making to lock funds.

Major Changes Expected

The report also covered how it was the rise of Automated Market Makers (AMM), governance tokens and yield farming, forks, derivatives, and network effects, and weird DeFi where it “began to incorporate memetic internet culture into the lexicon,” were the trends that defined Ethereum DeFi in Q3.

Although the excitement has come down extensively and the price of DeFi tokens are in capitulation mode, in the afterglow still, “smart financial and technical minds are increasingly attracted to the financial capabilities of Ethereum,” states the report.

These rapid innovation periods also saw an increase in ETH locked in DeFi protocols and a spike in the average gas price. But,

“As the Ethereum community prepares for an upgrade to the base protocol, and the Eth2 Deposit Contract goes live in Quarter 4 of 2020, this cycle could see major changes as DeFi continues to drive major activity on Ethereum.”

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Author: AnTy

‘Earliest Practical Date’ of Phase 0 of ETH 2.0 is Not Until Bitcoin’s 12th Anniversary in 2021

Yes, July 2020 was the target as the likely launch for phase 0 of ETH 2.0, but it is still “in the final testing stages with large multiclient testnets,” and client teams are putting on the final touches.

They could be ready for a relaunch of a larger public testnet in a matter of weeks.

However, during the Reddit AMA today, Justin Drake, a researcher at the Ethereum Foundation, shared that the “earliest practical date for genesis” is January 3, 2021, that would be Bitcoin’s 12th anniversary.

This delay is caused by several things that need to happen before genesis, including a public testnet with over three clients running smoothly for two-three months and an incentivized “attack net” running for the same duration.

Adding a bug bounty program running for 2-3 months and serious differential fuzzing across clients, and all of this can’t happen in Q3 2020, and Q4 has Thanksgiving and December holidays.

Some developers are still optimistic about the launch date by a handful of weeks and “putting money on 2020.”

The good thing is Phase 1 is “looking like the extension of Phase 0” the real heavy lifting on the engineering side won’t start until later this year because, for now, most eth2 client resources are dedicated fulltime to shipping Phase 0.

Also, Drake believes, even the late launch comes with “goodies which may get you excited.”

In conclusion, they are expecting 3-4 production validator clients for genesis, BLS12-381 hardware wallet integrations are happening, and a new deposit contract is written in Solidity with lower gas consumption.

The ETH Lock-Up Issue

The Ethereum community is extremely excited about staking, a hot trend in the crypto market. The number of addresses holding 32 ETH, the requisite for staking has been fast-growing, and just last month, ConsenSys announced six crypto heavyweights — Binance, Huobi Wallet, Crypto.com, DARMA Capital, and Trustlogy, and Matrixport that will join its Staking Pilot Program.

During the AMA, Drake also shared that resolving the issue of not having staked ETH lock-up until Phase 1.5, which could take years, is a priority.

“It is also a thorny issue without a fully satisfactory way forward as of now,” said Drake. There are various possible outcomes, including ETH1 being fully merged into ETH2 being the cleanest but hardest to pull off.

Despite the issue of ETH being locked up for a long time, Drake believes they will “easily reach the 0.5m ETH threshold to trigger genesis” because staking rewards will be high during the early days and also because “many enthusiasts are keen to jump in.”

Phase 1 Much Simpler to Implement

Currently, more than 100 people are contributing to the ETH 2.0, which the researcher believes they have made hard for themselves.

Ethereum co-founder Vitalik Buterin feels the same way as he shared his biggest regret today is “not launching” ETH 1.0 about a year later with all the deficiencies fixed.

For now, they are working on launching the testnet for Phase 0, which has apparently higher implementation complexity.

Phase 1 has two components, one being data only shard chains, which is “much simpler” than the beacon chain, and Phase 0 will already lay all the groundwork for it. The other one is a custody game and a crypto-economic game where complexity arises from challenge-response type interactions that have continually been refined and simplified.

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Author: AnTy

Dash Price Analysis (May 3)

• The price of Dash is likely to encounter a price breakout or a price breakdown in view of a range-bound movement.
• A bullish break at the $136 will make the crypto rally above the resistance level.
• A bearish break at the $36.80 will depreciate the crypto to a low below support price level.

DASH/USD Medium-term Trend: Ranging

Key levels

• Resistance levels : $140, $150, $160
• Support levels: $30, $25, $15


DASHUSD remains in a range-bound market in its medium-term outlook. The bullish momentum at $83.83 in the resistance area is lost during yesterday’s session.

Today’s daily open candle at $83.32 in the support area which is bearish returns the cryptocurrency back within the range.

The coin is initially down at $81.65 in the support area. Price is above the EMA-50 and the stochastic signal pointing up at around level 60% in the overbought region implies the coin is in an uptrend within the range.

DASHUSD is in consolidation and trading between $136.16 in the resistance area and $36.80 in the support area of the range.

A breakout at the upper resistance area or a breakdown at the lower support area may occur; hence patience is required to allow this to happen before a position is taken.

DASH/USD Short-term Trend: Ranging

The coin continues in a range-bound market in its short-term outlook.

The 4-hourly session opens today with the formation of a bullish inverted hammer opening candle at $83.32 in the resistance. An indication of a trend reversal, hence seller’s brief return.

Price of DASHUSD further drops to $81.65 in the support area within the range. A gradual return by the bulls now pushes the crypto’s price up at $82.87 in the resistance area within the range.

Price hovers around the two EMAs; this is an indication of an undefined trend in the context of the market between the buyers and sellers.

Thus, the stochastic signal pointing down at around level 59% suggests that there may likely be a change in trend of DASHUSD in the days ahead in the short-term.

DASHUSD is in consolidation and trading between $89 in the resistance area and at $67.10 in the support area of the range. A breakout at the upper supply area or breakdown at the lower area followed by a retest may occur hence patience is required to allow this to happen before a position is taken.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (bitcoinexchangeguide.com) holds any responsibility for your financial loss

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Author: Ben Jordan

Bitcoin & Gold Outperform Traditional Equity/Bond Portfolios In Q1 2020

  • Over the long-term, Bitcoin and S&P 500 correlation likely to return near zero levels
  • Allocating a small percentage to either gold or bitcoin increases the resistance of a portfolio

Historically, Bitcoin has been relatively uncorrelated with the S&P 500, staying between .15 and -.15 since 2012. Over the last month, however, the correlation shot up. It peaked on Black Thursday when both crypto and equity markets experienced historic and sudden losses.

But it doesn’t mean Bitcoin and S&P 500 are suddenly correlated because this short-term correlation spike has been under very unique circumstances, shared Coin Metrics in its latest report.

The news of spreading COVID-19 pandemic also has the correlation between SPY and GLD suddenly surging to its highest level since 2013, likely due to liquidity crunch leading to sell-offs across the board.

As a matter of fact, Bitcoin fundamentals didn’t change over the last month although the outside world did. In the short-term, it is expected to continue but in “over the long-term, Bitcoin and S&P 500 correlation are likely to revert to the mean and return to levels of near zero.”

As for its correlation with gold, historically it wasn’t very strong but suddenly increased in March just like with SPY.

“Although Bitcoin and gold may not act as safe havens during a global liquidity crisis, they may act as a safe haven during increases in monetary inflation and quantitative easing.”

Just a small allocation to Bitcoin outperforms other portfolios

Interestingly, both bitcoin and gold outperformed traditional equity portfolios.

In Q1 of 2020, risky assets across the world retracted as lockdowns to curb the spread of COVID-19 put pressure on the world economy. While both of these hard assets declined alongside US equities as investors fled to cash, Bitcoin and gold have recovered the majority of their losses.

Crypto data tracker TradeBlock analysed three different model portfolios, Equity + bond 60:40, Equity + bond + bitcoin 55:35:10, and Equity + bond + gold 55:35:10.

This revealed that a portfolio with just a modest allocation to bitcoin outperformed the equity and bond only portfolio and also the one containing gold.

“Allocating a small percentage to either gold or bitcoin increased returns.”

Source: TradeBlock

This week, US banks will be reporting their first-quarter earnings which were ridden with the challenge of near zero interest rate and a free-falling US economy.

Japanese conglomerate SoftBank is expected to lose nearly $17 billion for their tech-focused Vision Fund. Wells Fargo’s profits plunged about 50% in the Q1 and its shares dropped over 40% YTD while JP Morgan’s net income was down 69% and its shares are down 30% YTD.

Public crypto companies also reported losses but for Q4 2019. In the past week, Galaxy Digital reported a net income loss of $32.9 million and experienced layoffs in February 2020. Canaan reported a net income loss of $148.6 million loss for the fourth-quarter ending 2019. The Bitcoin miner equipment manufacturer’s net income declined and its share price (CAN) dropped 60% since its IPO.

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Author: AnTy

Bitcoin Price (BTC) Recovery Remains Capped, Sell Near $9K?

Bitcoin price is currently correcting higher from the new weekly low of $8,422. BTC to USD is likely to face a strong selling interest near the $8,975 and $9,000 levels.

Key Takeaways: BTC/USD

  • Bitcoin price is slowly correcting higher and trading above the $8,640 level against the US Dollar.
  • BTC/USD is facing hurdles near $8,760 and a major bearish trend line on the 2-hours chart (data feed from Bitstamp).
  • Ethereum is recovering, but it is likely to face sellers near $235.00 and $236.00.

Bitcoin Price Analysis

This week, there was a strong downside reaction in bitcoin price below the $9,220 and $9,000 support levels. Moreover, BTC to USD declined steadily below the $8,750 and $8,640 levels.

Bitcoin Price Analysis

Looking at the 2-hours chart, bitcoin even declined below the $8,500 level and settled well below the 50 simple moving average (2-hours, purple). Finally, the price spiked below $8,450 and traded to a new weekly low at $8,422.

It is currently correcting higher and trading above the $8,640 level. There was a break above the 50% Fib retracement level of the recent decline from $8,975 to $8,422.

It seems like bitcoin is currently facing hurdles near $8,760 and a major bearish trend line on the 2-hours chart. The trend line is close to the 61.8% Fib retracement level of the recent decline from $8,975 to $8,422.

Above the trend line, the next major resistance is near the $8,835 and $8,975 levels. Besides, the 50 simple moving average (2-hours, purple) is positioned near the $8,975 and $9,000 levels.

Therefore, a clear break above the $8,975 and $9,000 levels is must for more upsides in the near term. The next major hurdle for the bulls is seen near the $9,220 level.

Conversely, bitcoin price could might fail to surpass the $8,835 and $8,975 resistance levels. In the mentioned case, the price could resume its decline and trade below the $8,500 support area. If the bears remain in action in the coming sessions, there is a risk of a larger decline below $8,422. The next key support is near the $8,240 level.

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Author: Aayush J

Stellar (XLM) Price Analysis (February 16)

• The price of Stellar is likely to encounter a price breakout soon.
• Buyers are in the dominance of the market.

XLM/USD Medium-term Trend: Bullish
• Resistance levels : $0.090000, $0.090500, $0.090800
• Support levels: $0.040000, $0.035000 $0.033000

The cryptocurrency is in a bullish trend zone in its medium-term outlook.

The bears sustain pressure at $0.078821 coupled with a doji candle in the support area that opens today’s session.

XLMUSD drops initially to $0.076618 in the support area. The crypto’s price is above the two EMAs trading at $0.076618 price level, which indicates that price is in the bullish trend zone.

Hence, the stochastic oscillator signal pointing down at around level 72% implies the momentum in price of the coin is likely to encounter a change in the medium-term.

XLM/USD Short-term Trend: Bullish


The bullish 4-hour opening candle today $0.078821 at the resistance area sustains the bullish momentum with price up at $0.081543 in the resistance area but closes with a wick indicating exhaustion, hence the drop in price to $0.079034 in the support area by the brief bears’ pressure.

XLMUSD further drops to $0.077466 in the support area. Price above the two EMAs which are fanned apart. This suggests strength in the context of the trend and in this case the uptrend.

The stochastic oscillator is in the oversold region with a signal pointing down at 29%, an indication of a likely change in the trend of the crypto in the days ahead in the short-term.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (bitcoinexchangeguide.com) holds any responsibility for your financial loss.

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Author: Ben Jordan

Ethereum (ETH) Price Analysis (February 11)

• The price of Ethereum is likely to encounter a price breakout.
• The bulls remain dominant in the market.

ETH/USD Medium-term Trend: Bullish

• Distribution Zones : $240.00, $250.00, $260.00
• Accumulation Zones: $110.00, $100.00, $90.00

ETHEREUM/USD continues in a bullish trend in its medium-term outlook. The bearish pressure was weakened at $230.53 in the accumulation zone as bulls resume the uptrend today.

Today’s session opens with a long bullish candle at $237.76 in the distribution zone breaking the resistance line is an indication that the price of the coin is in an indication of buyers present and in control of the market.

ETH/USD is initially up at $238.21 in the distribution zone above the two EMAs as the journey up the trend has already begun.

The stochastic oscillator indicator at the overbought region suggests the momentum in the price of Ethereum is likely to experience a downward trend in the medium-term.

ETH/USD Short-term Trend: Bullish


The cryptocurrency is in a bullish trend in its short-term outlook.
The bullish candle formation at $220.00 in the distribution zone is an indication of the bulls returns shortly after the 4-hourly session opens today.
ETHUSD is initially up at $237.70 in the distribution zone above the two-EMAs breaking the resistance line, as the journey up to the upper distribution area has already begun.
The stochastic oscillator signal pointing up at around 69%, suggests an upward momentum in price in the short-term.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (bitcoinexchangeguide.com) holds any responsibility for your financial loss.

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Author: Ben Jordan

Global Uncertainties and a Weak US Dollar to Raise the Price of Bitcoin in 2020

According to a Bloomberg report from Monday, it’s very likely the price of Bitcoin (BTC) will increase in 2020, as a result of a weak US dollar and global uncertainties.

The predictions say BTC can reach its 2019’s top range of $14,000 if the geopolitical situation is still tensioned and the stock market continues to be volatile. Bitcoin has always been seen as the digital version of gold, mainly because it’s a limited asset that can’t easily increase to meet demands, just like gold. The halving that will take place later this year should reduce block rewards to 6.25 BTC, not to mention the BTC supply is expected to increase by 2.5% in 2020 as a result.

BTC Investment May Take Many Forms

The more investments in BTC are increasing, the more they can take different forms, analysts are saying. More than this, the derivatives market is continuing to expand and integration to major markets is possible. All this may have incredible effects on the BTC price and decrease volatility. Not everyone is convinced though, that the BTC has a strong connection with gold. For example, Quantum Economics founder Mati Greenspan called this relationship weak and mentioned the 2 assets may grow to be negatively correlated.

Bitcoin Had Its Moments of Volatility

There have been many volatility moments for BTC. For instance, it surged over $10,000 immediately after China’s President Xi has made a speech in which he encouraged the adoption of blockchain technology. For now, analysts think volatility doesn’t help BTC to be a stable store of value. However, this won’t stop investors to value their digital assets and keep the BTC price stable. Bloomberg thinks the Tether market cap will continue to expand in 2020, so many other cryptocurrencies will struggle to keep their investors according to how supply outstrips are demanding. Here’s exactly what the report continues to say:

“Bitcoin should again outshine most crypto assets in 2020 as the unique and appreciating digital version of gold. Bitcoin is winning the adoption race, notably as a store of value in an environment that favors independent quasi-currencies.”

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Author: Oana Ularu

CT Boycotting YouTube to Protest Against Google’s Unexplained Crypto Censorship

  • YouTube banning crypto content a “massive blow” to the industry
  • Removing videos, on the front end likely pales in comparison to the back-end updates to algos
  • Why the ban? “Most people equate a strong crypto with a weaker fiat”

Founder of Quantum Economics and former eToro analyst, Mati Greenspan took to Twitter to announce his stance on the latest unexplained and unexpected ban on crypto content on YouTube.

“In protest of Google’s new unexpected and unexplained censorship of crypto content I will be boycotting YouTube until further notice,” said Greenspan.

Dozens of videos of the crypto and blockchain creators have been removed or striked without issuing a warning first on YouTube. Some of these videos have been online for over five years.

A Massive Blow to the Industry

CNBC Host Ran Neu Ner calls this a “massive blow” to the industry.

The leading cryptocurrency exchange Binance also took a step in this direction, calling for the crypto community to unite.

Last year, Google and Facebook had imposed a crypto advertising ban that has been long since reversed. But there was no prior warning or an explanation released after the incident from Google or Youtube.

However, major crypto channels like CNBC’s Cryptotarder are unaffected which Greenspan in his Wednesday newsletter explained this could be a way to control how people think.

“Whatever they’ve done on the front end by removing videos, likely pales in comparison to the back-end updates to the algos and how people find crypto content on the platform,” guesses Greenspan.

Could this be because Google is afraid of crypto?

According to Tzvi Shapiro, co-founder at First Israel Mortgage it isn’t “surprising” because “Most people equate a strong crypto with a weaker fiat. Companies who have assets valued in fiat don’t want to lose value. Google being one of them.”

Also, it needs pointing out that YouTube has changed its Terms and Services earlier this month stating the platform “is under no obligation to host or serve content.”

However, with no way to know for sure yet the reason behind this and as Greenspan says “it would be quite a stretch to assume that Google is deliberately deploying censorship as a way of staying competitive.”

What’s the Alternative, Anyway?

As for how to proceed further, Mati is clear on that as he announced the boycott, which has been his knee-jerk reaction.

However, this certainly sheds light on the blockchain-based solutions that don’t get close to the level of experience that YouTube offers, which is the second most visited site on the web by Alexa ranking, with an estimated 28 billion monthly visitors.

As Binance CEO Changpeng Zhao said,

“It may be time the crypto community takes a stab at its own blockchain-enabled censorship-resistant social media platform. Lots of challenges though, spam, scam, trolls, incentives, copyright, token economics, governance, stickiness, privacy… But It’s about time!”

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Author: AnTy