TRON Price Prediction: Long-term (TRX) Value Forecast – June 29


• The bulls are back in control of the long-term outlook.
• Traders may consider buying with bullish reversal candlestick pattern as confirmation

TRX/USD Long-term Trend: Bullish

Supply zone: $0.0500, $0.06000, $0.0700
Demand zone: $0.01000, $0.00800, $0.00600

Tron long-term outlook continues in a bullish trend. The predicted target at $0.04000 in the supply area of the channel was attained on 25th June. This was a retest of the high the coin attained on 2nd June.

The formation of a bearish spinning top signaled a trend reversal as the bears gradually took control of the market.

Price fell initially to $0.03419 and thereafter to $0.03016 in the demand area below the lower trendline due to the downward momentum that was lost due to rejection at the 50-EMA.

Price is above the 50-EMA and the lower line of the channel an indication that the bulls are back in control of the market. The journey back to the $0.04000 and subsequently to $0.04200 at the upper line of the channel may occur in the new week.

A minor pullback may occur but traders may take advantage and buy low at bearish exhaustion areas.

The views and opinions expressed here do not reflect that of and do not constitute financial advice. Always do your own research.

[Author Alert] The author’s opinions above are solely based on their own self-conducted research. Assume any and all authors are using, holding, trading and/or buying cryptoassets mentioned as a portion of his or her financial portfolio. Use information at your own risk, do you own research, never invest more than you are willing to lose.

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Author: Azeez Mustapha

Did you Know More Than 65% of Crashed Stablecoins Were Gold-Backed?

Did you Know More Than 65% of Crashed Stablecoins Were Gold-Backed?

The cryptocurrency sector has recorded a lot of growth in recent times, especially with all the good news that has come out of the industry in 2019.

The fact that the crypto winter successfully ended and the market has been quite impressive since April when the surge started, coupled with Bitcoin’s over 200% return this year alone, has brought many people to the sector.

There is also a lot more institutional investment than has been seen in previous years. Regardless of all these, there are still a lot of people – some of them powerful government officials – who are less than excited about cryptocurrency.

On one hand, people are bothered about the decentralization and the fact that everything goes largely untraced. However, on the other hand, the biggest problem people have (including crypto proponents) is the volatility.

Bitcoin, for example, recently gained more than $1,000 in a short period of 24 hours and another 24 hours after that, it lost more than $2,000, currently trading just a little below $11,000.

Enter Stablecoins

A stablecoin is a digital asset whose value is backed by a particular asset or a range of assets. They are specifically designed to control the usual cryptocurrency instability as much as possible. A stablecoin can either be pegged to a traded asset like gold, or to a particular fiat currency.

However, it seems like the general idea of stablecoins (especially those backed by gold) isn’t really working and a lot of them are either defunct or didn’t kick off at all in the first place.

According to information from Blockdata, a blockchain analysis service, almost 120 stablecoins have been announced since January 2017 and till date, they have all failed to kick off. Another 24 stablecoins did kick-off but didn’t do well and eventually died out leaving only 66 stablecoins active today.

Another interesting piece of information is that of the 24 stablecoins that crashed out, 16 – representing more than 65% – were not backed to fiats but to gold reserves.

It has been said that stablecoins pegged to fiat should generally be supported by a properly centralised financial figure like a bank, so as to ensure some security. While this sounds like a fantastic idea, the recent problem that Bitfinex and Tether had, has shown that there is always the chance that things don’t go as well as planned.

Gold-Backed Stablecoins Might Be A Bad Idea

The assumption can now also be made that gold reserves are not the best backing for a stablecoin. For a gold-backed coin to work, there has to be actual gold stowed somewhere for the exact purpose of backing the coin.

However, a gold backed stablecoin would still have the same volatility issues plaguing the rest of the sector. This is because gold is far from stable and is still vulnerable to price swings.

Gold has been advertised for hundreds of years as a great store of value and while this works sometimes, one has to wonder why this many gold-backed stablecoins have crashed. There’s also the fact that some of the other cryptocurrencies give better returns than any stablecoin. Ethereum for example recently recorded a 150% year-to-date return while that of Bitcoin is well past 200%.

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Author: Tolu

Seed CX Settles on Corvil Analytics for Performance and Infrastructure Tracking in Crypto Markets

Seed CX Settles on Corvil Analytics for Performance and Infrastructure Tracking in Crypto Markets

Seed CX, a cryptocurrency exchange targeting institutions recently announced a partnership with Corvil Analytics. The move is set to enhance Seed CX ecosystem especially in performance and infrastructure tracking for clients.

Corvil Analytics offers services to financial institutions which include solutions to regulation inefficiencies and on-spot data analysis for crypto market information.

Ideally, the firm targets clients who want to secure better positions by avoiding the risks involved in regulation and price movements. Furthermore, the company has a simplified way of responding to regulatory questions.

Seed CX will leverage the services provided by Corvil to gain real-time insights on how their clients behave and what products would suit their needs. The move is in turn expected to boost performance given the availability of better analytical tools.

Corvil’s analytic services aim at identifying potential risks through its VPN access, AWS that allows web access and the collocated cross-connects.

Seed CX Strategic Partners and the Impact!

Generally, the working relationship with Corvil will place Seed CX at a better position technologically. This crypto exchange ecosystem is set to have a more transparent and efficient execution pattern as clients carry out trades.

At the beginning of 2019, Seed CX made known its intention to bring into the market a spot trade option for institutions leveraging its services. In addition, the firm recently joined forces with TradAir which would allow more clients to use its OTC settlement supported by Zero Hash.

Edward Woodford, the CEO & co-founder of Seed CX, noted that Corvil indeed places the firm at a better position with its advanced tech. He added that Seed CX can now use the tools to keep track and prepare for the dynamic cryptocurrency market.

“Through this enhanced analysis of orders, execution, infrastructure, and market data, Corvil helps us deliver the performance, responsiveness, and reliability standards our clients now expect.”

Seed CX Head of Market Operations, Adam Leaman, supported the positive sentiments shared on the prospects of their partnership with Corvil Analytics. He particularly praised the technology as a de facto within the cryptocurrency space stating that Corvil would allow Seed CX;

“focus on delivering new features, stability, and a better quality product instead of developing bespoke internal tools,”

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Author: Lujan Odera

Pre-FUD Announcement: Bitfinex and Ethfinex Going Offline June 26h to Upgrade Crypto Exchanges

Pre-FUD Announcement: Bitfinex and Ethfinex Going Offline June 26h to Upgrade Crypto Exchanges

With the skepticism of cryptocurrency exchanges in the last year going down for hacks or exit scams, Bitfinex has taken a transparent approach and announced the upgrade of their platform well in advance. Hong Kong based cryptocurrency exchange platform platform, Bitfinex on the 20th of June 2019 via Twitter said :

Bitfinex Announcement

A statement was also released on the details of the downtime

“The June 26th update is designed specifically for us to be able to deliver a more sophisticated trading experience, further separating Bitfinex from the remainder of the digital asset trading space,” reads the announcement. “This includes, amongst other things, laying the foundation for the launch of derivatives trading on Bitfinex.”

Here’s what you need to know for the day it goes down:

Affected Crypto Exchanges

Notably the announcement stated that this upgrade will require taking all iFinex trading platforms offline for the 7 hours which includes their Bitfinex and Ethfinex platforms.

During this period traders will not be able to trade, view as well as have access to their wallets. You should consider pulling all your funds from there just in case. I’m sure it will roll out smoothly, but if you need access, you won’t have it for at least 7 hours.

Downtime Details

They also outlined some details of the 7 hour downtime.

  • All assets on the platforms will remain safe and secure.
  • No open orders will be filled during this period, regardless of price movement
  • Bitfinex and Ethfinex users will not be liquidated during this period, hence users are advised to reevaluate their open margin requirements.

However, per the announcement, the 26th of June upgrade is still open to change if the cryptocurrency market is deemed too volatile for a downtime. With the way the current market is headed, if prices jump during that time, they may choose to push it to another day.

iFinex LEO Token

LEO (LEO) , the new exchange token recently raised about 1 billion dollars for iFinex in sales.

LEO is similar to the Binance coin (BNB) as it provides discounts on transaction fees and lending fees on Bitfinex and EOSfinex platforms.

Bitfinex plans to repurchase the LEO Token every month at the market price with a minimum of 27% of the consolidated gross revenue of iFinex from the previous month, until 100 million LEO or less are remaining.

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Author: Osahon Okodugha

SWIFT Payment Protocol Embraces New Blockchain Initiative To Improve Its Services

SWIFT Payment Protocol Embraces New Blockchain Initiative To Improve Its Services
  • SWIFT is working with blockchain technology to improve its services and remain competitive
  • Several blockchain firms have entered the financial market during the last few years

SWIFT, one of the most recognized providers of financial services around the world, announced that it is moving all in on blockchain and open finance. The main intention is to remain competitive in the blockchain market that is welcoming new participants and initiatives that could harm its market share.

SWIFT Works On New Blockchain Initiative

According to Finder, SWIFT released a new paper titled: Payments: Looking into the Future, that was written by the CEO of the company Gottfried Leibbrant and the CMO Luc Meurant. In this paper, they inform that they will be pulling all the world’s banks onto a blockchain network. This would allow third-party businesses to develop their own financial services and applications within the ecosystem.

In order for banks and financial institutions to compete in this market, it is necessary for them to use open systems. According to SWIFT, this is “do or die in payments.”

About it, SWIFT wrote:

“We don’t think that cross-border payments challenges should be solved for with closed loop systems. Doing so would easily solve for a subset – or multiple subsets – of participants, but value needs to move everywhere – from every account, to every account. Loops create barriers and friction; they reduce fungibility and portability, they limit competition and they fragment liquidity.”

Banks have also to adapt to these new realities in which blockchain technology is surging and helping firms to improve their services and products. As the CEO and CMO of SWIFT explain, value needs to shift further and faster. This is why they consider only a seamless open global value transfer system can enable this.

The authors of the paper explained that there are key players around the world that have the ambition and commitment to realize the goal of improving their services by embracing new technologies. According to Finder, GPI (Global Payments Innovation) is the answer that SWIFT has to all the dust blockchain that has been growing in the last years. After trying during the last years, they have confirmed that distributed ledger technology (DLT) is going to be at their core.

With their approach, banks can differentiate themselves by layering services and new products so as to distinguish their offerings. Moreover, FinTechs and other players can also create and offer new value-added services.

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Author: Carl T

Linda Lacewell Bags Approval from New York Senate as Superintendent of Department of Financial Services

Linda Lacewell Bags Approval from New York Senate as Superintendent of Department of Financial Services

Saddled with the task of governing more than a thousand different financial institutions, the Department of Financial Service will now have a new superintendent.

Linda Lacewell, the new overseer, was confirmed by the Senate in the state of New York. She was initially nominated by the New York State governor, Andrew Cuomo, following her service as his Chief of Staff after which she became the DFS’ acting superintendent.

The New York DFS is one of the first in the United States to make some effort in bringing order into the cryptocurrency sector with regulation, since 2015. Since inception, the DFS has given authorization to about nineteen different cryptocurrency startups that satisfied the DFS’ BitLicense statutes.

The DFS hopes to regulate the sector so that as much as possible, customers and investors are protected, security is ensured and criminal activity like money laundering is prevented.

Lacewell is known as an ardent supporter of innovation and hopes to use regulation not to stifle the growth of the sector but to ensure sanity and reduce exploitation. Sometime ago, while speaking on why the DFS is working tirelessly on regulation, Lacewell said:

“A regulated industry protects customers while supporting innovation and ensuring our financial services sector is a vibrant part of New York’s economy.”

The requirements for a license are known to be quite strict, even as the body seeks to support the regulated trade of cryptocurrency. Just recently in April, the DFS deprived Bittrex of a license because the firm had not fulfilled all the necessary Know-Your-Customer (KYC) requirements.

According to the DFS’ Executive Deputy Superintendent for Banking, Shirin Emami, Bittrex had an “obligation to conduct appropriate due diligence on all types of assets” and didn’t do so satisfactorily.

After the official confirmation, Lacewell put out a statement thanking the governor and all the members of the senate for the opportunity for her to continue her work. According to the statement:

“It is an honour and a privilege to be confirmed as Superintendent of the Department of Financial Services. I thank Governor Cuomo and the members of the New York State Senate for the opportunity to lead this essential agency and I look forward to working with the entire legislature at a time when it has never been more important to protect consumers, safeguard markets, enforce the law and encourage real financial services innovation.”

Lacewell will be the third person to occupy the role of superintendent of the New York State Department of Financial Services. The agency was established back in 2011 and is an amalgamation of the insurance and banking agencies in the state.

Linda Lacewell is credited as the person responsible for the creation of a Cyber Division specifically dedicated to cybersecurity and consumer protection. The division will also do its best to ensure compliance from all the regulated firms as they carry out their activities.

Lacewell at a different time had explained her interest in innovation regarding financial technology, stating that the DFS is also expected to watch the fintech space for emerging technology. According to her:

“It’s actually the job of DFS not only to regulate banking and insurance, but to keep an eye out for emerging products like Bitcoin, Fintech and other areas. “It’s part of our responsibility to look there to identify those issues and to try to responsibly regulate in a careful manner.”

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Author: Tolu

Location Data During Bitcoin’s Initial Genesis Block Show Craig Wright is not Satoshi Nakamoto

Location Data During Bitcoin’s Initial Genesis Block Show Craig Wright is not Satoshi Nakamoto

Crypto researchers keen with Satoshi’s whereabouts recently uncovered that Craig Wright’s ‘Self-proclaimed Satoshi’ theory is indeed inconsistent with facts.

This was proven by the IP addresses of Craig and Satoshi back in 2009 when the first BTC was mined and transferred. Findings revealed that the two were in fact on different time zones at that time.

Craig Wright and Satoshi Whereabouts in 2009

Craig gained a controversial position within the blockchain and cryptocurrency space following his claims that he invented Bitcoin. The well-known figure has gained popularity with this theory but it appears that facts may soon prove his claims are untrue. Craig’s alleged location during the first BTC transaction lead to these findings.

At the beginning of April, Wright shared on Medium about his participation in Bitcoin’s creation and gave a detailed outlook of how it ‘began’. The popular figure revealed information on where the nodes were run together with machines and where they were stored.

He added that, he owned a ranch in Bagnoo, Australia, where he had turn a part of his property into a machine operation space. Furthermore, the crypto enthusiast said he run similar operations in his house located on the outskirts of Sydney.

Craig Wright noted in particular that he had travelled back to Bagnoo when BTC’s initial genesis block was created. In addition, on January 9, Craig travelled again having been the initial Bitcoin mining date.

However, based on research, Craig was on the opposite side of the world compared to Satoshi’s location that pinpoints California.

California; Beginning of Satoshi’s Bitcoin?

One of the well-known bounty hunters on twitter’s blockchain and crypto space made this discover back in 2016. The researcher shared through a blog the involved IP addresses for Bitcoin’s very first transaction which happened on 10th January, 2009.

Given that the project involved only Satoshi and Hal Finney on the said date, it therefore was possible to figure out which address was Satoshi’s. This IP address tells that Satoshi’s location during the initial days of Bitcoin was in Van Nuys, California. A popular cryptocurrency researcher who goes by the twitter handle @SeekingSatoshi added that the IP was not related to any TOR exit node or VPN.

He went on to further add that information from initial versions of Bitcoin’s whitepaper show the time zones where Satoshi run his activities at the time. Detailed analysis based on frequency and time concur with the fact that he was based in America and may have been a teacher or student.

So far, nothing shows a correlation of Wright’s position with facts identified as support to Satoshi’s US location back in 2009. However, the controversial figure continues to enjoy a large fan base in crypto with a majority still backing him after these allegations.

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Author: Bitcoin Exchange Guide News Team

Ripple Announces New Strategic Partnership With MoneyGram (MGI)

Ripple Announces New Strategic Partnership With MoneyGram (MGI)
  • Ripple signs new partnership with MoneyGram
  • Using xRapid MoneyGram will leverage XRP to have faster and cheaper transactions

Ripple has just signed a new strategic partnership with MoneyGram, one of the largest money transfer companies in the world.

Through this partnership, Ripple is expected to become MoneyGram’s partner for cross border payments and exchange settlements using virtual currencies. The information was released by Ripple in a recently published statement.

Ripple Announces Partnership With MoneyGram

As per the announcement made by Ripple, during the next two years, Ripple will be providing MoneyGram with cross border trading services and foreign exchange settlement through digital assets. At the same time, Ripple has decided to provide a capital commitment to the company, allowing them to draw up to $50 million in exchange for equity.

Through this partnership, MoneyGram will be using the xRapid product developed by Ripple to reduce the reliance on pre-funding bank accounts. Funds would be sent from one currency and settled in another currency in other countries.

The xRapid product uses the XRP digital asset in order to make fast and cheap transfers. XRP is one of the most efficient digital currencies for settlement with transaction fees that are just fractions of a penny.

MoneyGram Chairman and CEO, Alex Holmes, commented about this partnership:

“Through Ripple’s xRapid product, we will have the ability to instantly settle funds from US dollars to destination currencies on a 24/7 basis, which has the potential to revolutionize our operations and dramatically streamline our global liquidity management.”

At the moment, MoneyGram is operating in a $600 billion global remittance market and it has served millions of customers in different countries around the world. MoneyGram relies on traditional foreign exchange markets in order to be able to meet its market obligations.

After the announcement released by Ripple, the price of the XRP digital asset moved over 5% from $0.43 to $0.45.

A few weeks ago, several rumors spread regarding Ripple purchasing MoneyGram. It seems that Ripple had something prepared, and this partnership seems to be very important for the future of the third largest digital asset.

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Author: Carl T

ZCASH Price Prediction: Long-term (ZEC) Value Forecast – June 16

Zcash (ZEC) Overnight Hard Fork Successfully Executed, What's Next?
  • The journey to the north may be sustained with strong bullish pressure.
  • $100.00 in the supply is the bulls first target in the long-term.

ZEC/USD Long-term Trend: Bullish

Supply zone: $120.00, $140.00, $160. 00
Demand zone: $50.00, $40.00, $30.00

The cryptocurrency is a bullish trend in the long-term outlook. $75.49 in the demand area was the point of further rejection of downward price movement at the trendline. The presence of wicks around the trendline and the formation of the bullish candle signaled the bulls returned. ZECUSD rose to $85.00 above the 10-EMA.

Further confirmation of the market under the bulls control occurred with the large candle of 12th June. Price rose initially to $92.53 and later to $95.99, the high of the week.

The stochastic oscillator signal points up at 83% in the overbought region as the new week began on a bullish note. This is coupled with price above the two EMAs that are fanned apart. These suggest a bullish continuation in the long-term.

The bulls may keep price above the trendline in the days ahead with more candles open and closed above the EMAs as momentum increased and new traders take positions.

The views and opinions expressed here do not reflect that of and do not constitute financial advice. Always do your own research.

[Author Alert] The author’s opinions above are solely based on their own self-conducted research. Assume any and all authors are using, holding, trading and/or buying cryptoassets mentioned as a portion of his or her financial portfolio. Use information at your own risk, do you own research, never invest more than you are willing to lose.

[Domain Disclosure] The crypto-community content sourced, created and published on BitcoinExchangeGuide should never be used or taken as financial investment advice. Under no circumstances does any article represent our recommendation or reflect our direct outlook. We b-e-g of you to do more independent due diligence, take full responsibility for your own decisions and understand trading cryptocurrencies is a very high-risk activity with extremely volatile market changes which can result in significant losses. Editorial Policy \ Investment Disclaimer

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Author: Azeez Mustapha

Is Bitcoin (BTC) Currently Undervalued? Institutions, Halving, Payments, Custody and More in 2019

Is Bitcoin (BTC) Currently Undervalued? Institutions, Halving, Payments, Custody and More in 2019
  • Bitcoin is currently trading above $8,800 with a market cap of just above $150 billion
  • By stock to flow model, after 2024 Bitcoin halving, total market value will reach $30 trillion

Currently, BTC/USD is trading at $8,825, having surged more than 180 percent from the yearly low of $3,150 during the brutal winter of 2018. However, we are still down 57 percent from its all-time high of $20,000.

According to the Stock-to-Flow model analyzed by analyst planB for Bitcoin, the first scarce digital object like silver and gold that can be even sent over the radio, internet, and satellite, falls above $100 billion. Currently, Bitcoin market capitalization holds at $153 billion.

Scarcity is basically a situation in which something is not easy to get and in case of Bitcoin, it is the ‘unforgeable costliness’ as stated by Nick Szabo,

“Precious metals and collectibles have an unforgettable scarcity due to the costliness of their creation. This once provided money the value of which was largely independent of any trusted third party. [..][but] you can’t pay online with metal. Thus, it would be very nice if there were a protocol whereby unforgettably costly bits could be created online with minimal dependence on trusted third parties, and then securely stored, transferred, and assayed with similar minimal trust. Bit gold,” explained Szabo.

When it comes to gold and bitcoin, they are different from consumable commodities because they have a high stock-to-flow ratio that makes it the commodity with the lowest price elasticity.

“The existing stockpiles of Bitcoin in 2017 were around 25 times larger than the new coins produced in 2017. This is still less than half of the ratio for gold, but around the year 2022, Bitcoin’s stock-to-flow ratio will overtake that of gold,” stated Saifedean Ammous.

Bitcoin’s current SF is 25 that puts it in the category of silver and gold which will jump and get doubled to 50, very close to gold’s SF 62 after the 2020 Bitcoin reward halving.

According to the latest update by planB, per Stock-flow line and S2F growth path, after 2024 halving, Bitcoin’s total market value will surge to $30 trillion.

Recently, the analyst has also shared how Bitcoin production is going towards zero. Practically, after three more halvings, the last one in 2028, Bitcoin market value could be as high as $100 trillion, resulting in hyperbitcoinization.

As for where all this money will come from? In his detailed analysis from late March, planB shared that silver, gold, countries with negative rate such as Japan, Europe, “US soon” and countries with predatory governments like China, Turkey, Iran, and Venezuela along with billionaires and millionaires hedging against QE and institutional investors discovery best performing assets of the last 10 years will bring in these trillion dollars into Bitcoin.

Bitcoin’s price is $8,839.42 BTC/USD exchange rate today. The real-time BTC market cap of $157 Billion currently ranks #1 with a chart dominance at 56.64%, daily trading volume of $5.16 Billion and live coin value change of BTC 1.95 in the last 24 hours.

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Author: AnTy