Celo Dollar (cUSD) Stablecoin Launches as the Libra Rival Eyes Digital Ecosystem Dominance

Celo Dollars (cUSD) stablecoins are now live on the platform’s mainnet according to a medium post by the foundation on June 29. This comes barely two months since Celo’s mainnet went live; the project has been making aggressive moves in both development and community growth. With Celo’s stablecoin (cUSD) now accessible, the foundation is optimistic that its vision of an all-inclusive financial ecosystem will be realized.

Notably, Celo’s infrastructure has been gaining popularity as its Alliance membership surged following its debut in March with an initial 50 members. Two months in, the number had grown to 75 as more players collaborate to expand Celo’s ecosystem. Prominent names contributing to this project include Bison Trails, Alpha Wallet, Paxful, Polychain, and Mercy Corps, to mention a few. Currently, the Alliance’s focus is in four areas; communications, policy, remittances, and international aid.

The Celo Dollar (cUSD)

As cryptocurrencies take the center stage of digital asset innovation, programmable money is a no brainer for today’s economy. It is, therefore, not surprising that the digital currency trend has been resilient since Bitcoin recorded ATH back in 2017. Consequently, crypto market players have come up with ways to eliminate some aspects of volatility hence the rise of stablecoins over the course of 2019.

Celo Dollar (cUSD) is designed to further enhance the grown of $34 billion P2P markets, $1.4 trillion PoS market, $248 billion gig economy, and $87 billion remittance market. Users can leverage the cUSD to make touchless merchant payments in the wake of COVID-19 preventive measures. They can also send or receive Celo Dollars locally and internationally at friendly fees that are as low as $0.01.

Finally, this Celo based stablecoin can be used to access financing by borrowing at interest. This is especially valuable in economies with a high unbanked population given the increase in smartphone accessibility hence the opportunity to operate on Celo’s network instead.

Celo’s Prospects

The Celo Alliance is considered a Libra rival in the digital currency space but may soon be in the clear should regulatory pressures favor its existence. It has been making significant milestones since we began 2020, including a $700k grant allocation to startups building on the Celo blockchain network. cLabs, Celo’s founding company, also raised $10 million in the Celo Gold (cGLD) token sale on CoinList in which around 509 global investors participated.

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Author: Edwin Munyui

Ethereum (ETH) Price Analysis (February 21)

• The cryptocurrency is in a bullish flag formation both in the medium and short-term perspective.
• Bull s are dominant in the market at the moment.

ETH/USD Medium-term Trend: Bullish

• Resistance levels : $270, $280, $290
• Support levels: $110, $100, $80

ETHUSD continues in a bullish trend zone in its medium-term outlook. The bears increase momentum pushes price down to $258.50 in the support area, as the market opens yesterday.

The momentum was lost as exhaustion sets in couple with the draggonfly doji that signals the bull’s return. The cryptocurrency drops to $245.28 in the support area before the end of yesterday’s session.

Today’s daily bullish opening candle at $259.44 in the resistance area returns the coin to the upper range. ETHUSD rises further to $268.30 in the upper resistance area.

Price is initially up above the resistance level with its wick touching the EMA-9, an indication of an uptrend in the momentum of the price of Ethereum.

However, the stochastic signal pointing downwards at around level 65% in the overbought region suggests that the price of Ethereun may likely encounter a trend reversal in the nearby days in the medium-term.

ETH/USD Short-term Trend: Bullish

The bullish 4-hour opening candle at $262.44 sustains the bullish momentum with price up at $264.05 in the upper resistance area.

Bulls’ increase momentum pushes price of ETHUSD further to $266.44 in the upper resistance area.

Bears’ brief return with the formation of a bearish inverted hammer candle at $263.00 drops the coin in the support area.

The cryptocurrency is trading above the two EMAs join together in the upper resistance area; this suggests strength in the context of the trend and in this case the uptrend.

However, the stochastic signal pointing up at level 45% in the oversold region is an indication that the momentum in the price of Ethereum may likely change 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

Litecoin (LTC) Price Analysis (February 11)

• The Cryptocurrency is in a bullish trend in both the medium and short-term outlook respectively.
• The bulls remained in control of the market.

LTC/USD Medium-term Trend: Bullish

• Resistance Levels : $80.00, $90.00, $100.00
• Support Levels: $35.00, $25.00, $15.00

Litecoin (LTCUSD) is in an uptrend in its medium-term outlook. Yesterday, the price of the coin dropped to $73.98 in the support area due to the gradual return of the bears. The bears were resisted as the market opens today on a bullish note at $74.00.

The crypto’s price is initially above the two EMAs trading at the $74.88 in the resistance area, which indicates that price is likely to rise.

Meanwhile, the stochastic oscillator signal at the overbought region is an indication that the momentum in the price of the coin is likely to go upward in the future in the medium term.

LTC/USD Short-term Trend: Bullish

The coin is in a bullish trend in its short-term outlook. The bears’ brief return led to a drop in price of the coin to $73.37 in the support area during yesterday’s session.
The 4-hourly chart today opens on a bearish note at $74.00 in the support area. However, the price of the crypto is up at $74.88 due to the gradual returns of the bulls.
Price is above the two EMA’s and the stochastic oscillator signal pointing up at around 27% in the oversold region indicates an upward momentum in price of the coin. Hence, a buy signal.

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

New Bitcoin Bank App Launched By Twitter, Medium Co-Founder Backed Fintech Firm Mode

Biz Stone, the Medium & Twitter co-founder has invested in a financial services company called Mode. The company has just released a BTC (Bitcoin) banking application for use in iOS gadgets.

The UK-based firm said that the application will be available globally, but users in the United States would not have access to it yet. This is according to a statement the firm sent to Finextra, a media outlet that is focused on fintech companies on 4th February.

Clients will be able to start using the application with as little as $65 or £50. They will also be able to purchase bitcoins through bank transfer or using their bank cards. All funds uploaded to the application will be processed by BitGo, the custodian of the digital asset.

Mode Set to Address Security and Speed Issues

The application from Mode supposedly enables clients to upload funds to their accounts instantaneously through the use of a Faster Payments process. Mode’s head of communications and marketing, Ariane Murphy stated that:

“The Mode app addresses transaction restrictions issues, low speed/high cost, lack of security and most importantly, tackles the poor user experience typically associated with Bitcoin apps.”

Before one can start using this application, all clients will be required to undergo a detailed KYC (Know Your Customer) process. This particular procedure will be implemented through the use of verification technology powered by artificial intelligence.

Mode was founded in 2018, and its parent company is the R8 Group, a fintech company based in the United Kingdom. A waiting list for users who would like to use the Mode application was started in October 2019. At the time, applicants were only able to get on to the waiting list by invitation only from others.

Bitcoin Blockchain Still Plagued by Speed Issues

Players in the industry have for a while now been looking into ways that they can speed up BTC transactions. The Lightning Network includes an extra layer to the existing BTC blockchain making it possible for clients to produce compensation channels among any 2 participants on an additional level.

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Author: Daniel W

Bitcoin’s Price and Crypto Market Heading Straight for “Full Blown” Level 10 FOMO: Fundstrat

  • Bitcoin FOMO past “baby” and medium” levels and heading for the last level at $10,000
  • “A price level only seen 3% of all days”

The last bull market that has Bitcoin going to $20,000 has been driven by FOMO “Fear of Missing Out” when Bitcoin started surging from less than $1000 at the beginning of 2017 to ending the year well above $19,000.

However, since then throughout the brutal winter of 2018, crypto market awareness and adoption grew while institutional investors also came rushing in. But FOMO still drives the BTC price to a certain extent.

According to Fundstrat, we are heading for level 10 that is full blown FOMO. At $6,950, we triggered the first level of FOMO termed “baby.” The “medium” that is at level 5 was hit when BTC price went approximately to $8,900 while in 2017 bull run this level was hit at $3,200.

While during the bull cycle of 2013-2017, the “full blown” FOMO was hit at $4,500, this time once we hit $10,000, we will reach the last level of FOMO that is expected to take us to the rally to new all-time highs (ATH).

Bitcoin bull and Fundstrat founder, Tom Lee explains,

“Actually the point of the chart is to say “real FOMO” probably starts when bitcoin exceeds $10,000 as that is a price level only seen 3% of all days.”

The $10,000 in the current Bitcoin market is mathematically equivalent to BTC exceeding $4,500 in 2017 that Lee says,

“was a level that indeed triggered FOMO.”

Recently, Lee had confirmed that crypto winter is over and shared 13 reasons to justify that. The points that make up these reasons include on chain transactions per day turning positive, Bitcoin Misery index crossing above 67 for the first time since August 2017, BTC price closing above 200 days first time since March 2018 and Bitcoin being bottomed out in December 2018 at $3,150.

Additionally, OTC volumes are surging, BTC printing a golden cross, and no effect of bad or negative news on the price of BItcoin among others like on chain activity and Grayscale Bitcoin Investment Trust premium are surging yet again, signaling we are out of the woods.

The strong Bitcoin market and the network indicate that we have entered a bull market. Currently, BTC/USD is trading at $8,750 with 24-hours gains of 0.41 percent.

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Author: AnTy