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100X Bitcoin Leverage: PrimeXBT Platform Goes LIVE!

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Today signals a turning point in global cryptocurrency markets and the direction that the sites supporting them are taking, as the doors to one of the world’s most sophisticated new trading platforms swing open, and a waitlist of over 150,000 traders from 175 countries around the world are finally able to see what all of the hype has been about.

PrimeXBT won’t be competing with existing crypto-asset exchanges – instead they’re positioned to use technological foresight and connections within the industry to be dominant, both in the retail and institutional sectors of the market. 

This comes in no small part from the powerful combination of advanced functionality and strategy-driven options, such as leverage-trading of up to 100x, the ability for traders to short-sell cryptos and by providing aggregated liquidity from 12 separate providers, concurrently and instantaneously.

By providing this functionality-suite initially for Bitcoin, Ethereum, Ripple, Litecoin and EOS, opportunities to short-sell Litecoin or to leverage EOS at 1:100 are uniquely available now on PrimeXBT.  With the addition of many more crypto-assets planned, the potential to enact similar trades on an even broader range of assets will be possible over the coming months.

Unsurprisingly, much of what has already been publicized about PrimeXBT in the lead up to today’s launch outlines the creation of a trading toolset more closely in alignment with large traditional asset trading platforms. 

While only a tiny minority of crypto-based exchanges allow traders to leverage trade assets like Bitcoin or Ethereum, and even fewer provide the ability to short-sell during bear conditions, PrimeXBT has embraced the mantra of selecting and combining the widest range of options available for traders to-date.

12

Advanced Features Providing Traders with a Competitive Edge

Incumbent crypto-asset platforms have been slow to realize the market demand for modern features that are suitable for a growing user-base, consisting of ever more sophisticated investors.

Where once simple functionality was enough for a new and developing industry, explosive adoption throughout the past few years and the potential for 2019 to be the biggest growth year yet has seen a maturation of typical trader and the strategies being used.

This, coupled with a move by hedge funds and other institutional traders into crypto-asset markets recently, has created the clear need for next generation trading platforms offering features in-sync with higher-powered trading strategies.

PrimeXBT has taken this challenge in its stride, bucking the trend to produce yet another cookie-cutter exchange, and dramatically superseding what has come before by tailoring a feature-driven interface for modern traders:

  • Fluidly-adjustable leveraging from 1:1 up to an industry-leading 1:100
  • Mechanisms provided for short-selling, not only for BTC pairs, but for ALL assets.
  • Instantly-available volume aggregated from 12 providers simultaneously, ensuring optimal price-acquisition and mitigating against slippage.
  • Lower trading fees than any other major trading platforms, with early-adopters securing fees at ¼ of the cost of trading at Bitfinex.
  • A wide range of specialized order types, including stop-loss, OCO (one-cancels-the-other) and protection orders.
  • The complete removal of any KYC requirements, and anonymous sign-up using an email alone, all within less than 1 minute until accessing trading accounts.
  • Unlike many other platforms, deposits can be made in fiat and cryptocurrencies via Changelly’s integration with PrimeXBT systems.
  • Easy-to-use and easy-to-customize professional user interface, providing multi-screen support, advanced charting software and a comprehensive walkthrough tutorial.
  • Robust financial-industry-grade security protocols, utilizing cold-wallet storage, address whitelisting, cryptographic password hashing and 2-factor authentication as standard on all accounts.

Any one of these features provides greater power to develop profitable strategies – when combined together, they provide the unprecedented ability to access crypto-asset markets with a versatile and comprehensive toolset.

The value of the addition of a broad range of functionality isn’t in the functionality itself, but in the new and untapped opportunities that are provided for traders and investors.

A Unique Feature-Set Facilitating Unique Opportunities

Professional traders understand that opportunity predominantly falls within outlier situations, away from the pack, and by discovering and developing an edge over competitors using any resources available.

What are some of the edge-case opportunities open to the 130,000-strong army marching into PrimeXBT today?

Ability to Short and Leverage ALL of the 6 largest-marketcap cryptocurrencies

No other platform in the world provides the distinct opportunity to generate returns on the top 6 cryptocurrencies, irrespective of market conditions. While shorting is commonplace in traditional markets, PrimeXBT provides the cryptocurrency industry’s widest selection of high-liquidity shortable pairs. 

When combined with the ability to leverage trades at a rate of up to 100 times the initial deposit amount, opportunities that would not be possible otherwise and that have the potential to yield incomparable ROI’s, are available exclusively at PrimeXBT.


Lower fees exposure opportunities in High-Frequency Trading (HFT)

Advanced strategies such as arbitrage and market-making use the cost of platform fees as a determining factor to profitability, and the potential to execute on a particular trader. 

By providing a fee structure lower than other major platforms, PrimeXBT allows traders to customize HFT strategies to include trades that would typically be unprofitable at higher-fee exchanges.

Simultaneously-Opposing Trades Allows for Advanced Risk Management

PrimeXBT provides the unique ability to hold opposing positions concurrently on any given trading pair.  Instead of being forced to enter naked positions with full risk if the trend moves against them, traders are now able to develop strategies that incorporate hedging by placing weighted trades in the counteracting direction.

While features such as leveraging are undoubtedly powerful, the true power lies in developing leveraged positions with calculated risk management utilizing hedging for safety.  This functionality reflects PrimeXBT’s goal to provide professional trading tools to beginners and experts equally.


Instant Access to PrimeXBT – the Time for Waitlists is Over

After months of anticipation, registrations and preparation.. PrimeXBT is now LIVE!

Tens of thousands of new users are logging into their new accounts following the lead up to today’s launch event.  But to get your first look at the platform’s features and user interface, there’s no need to join the back of a waitlist.

Be one of the first to experience the power of PrimeXBT at https://PrimeXBT.com, and for your chance to earn from the wave of new users signing up in the coming months, be a part of the highest-paying crypto platform referral program at https://PrimeXB.com/referral/.

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BiKi.com Compares Favorably Against Top Exchanges Binance, OKEx and Huobi

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Exchanges

The numbers are in and fast-growing exchange BiKi.com is proving it is no flash in the pan. According to official reports, BiKi.com’s revenue figures in the second quarter exceeded USD 15 million, which is a 500% increase when compared to figures from the first quarter. This works out to one-eighth of leading exchange Binance’s reported Q2 revenues.

BiKi’s June trading fees is also currently 20% of OKEx’s. Its total registered users have now reached 1.5 million, with 130,000 daily active users, numbers which are comparable to top tier exchanges like Huobi. The trading platform now provides 220 trading pairs and ranks amongst the top 20 on exchange ranking sites such as  Feixiaohao and Mytoken.

BiKi.com has continued to forge an impressive progression since it began in June 2018 and this has attracted investments of nearly USD 10 million the past year from investment institutions and individuals the likes of Du Jun, Zhu Huaiyang (Genesis Capital), FBG Capital, and ChainUp.

Cryptocurrency exchanges generally operate within an extremely competitive environment and many exchanges undertake wash trading to maintain their competitive edge. BiKi.com claims it does not practice wash trading and attributes its success to two factors – project selection and how it gains and retains market share.

Project Selection

BiKi adopts an astute set of criteria when choosing projects to list and one of them requires that all listed projects have strong communities of token holders behind them. This is contrary to cryptocurrency exchanges who charge high listing fees and then have to rack their brains to bring in users to trade. As was the case with FCoin Exchange, the “Transaction Mining” mechanism devised by its team did indeed attract a huge user base within a short period of time. However, once the dividend period was over, it was simply a matter of time before its user base had all but dissipated.

BiKi chooses its projects wisely – listed projects on BiKi have large communities and frequent traders who possess diverse assets. Additionally, BiKi already has 5 Wechat community leaders with over 1 million followers who are community token holders and over 10 Wechat community leaders with over 100,000 followers, which contribute to 80% of the exchange’s traffic volume. By leveraging on the strengths of its projects and BiKi’s own strong Wechat communities, BiKi has managed to carve out a fast track to gaining liquidity and trading volume.

BiKi’s strategy of maintaining long term relationships with venture capitalists and investors ensures that BiKi has opportunities to either list top tier projects on a moment’s notice, or be the first exchange to list a certain project. As a result, BiKi’s users have access to a wide variety of high quality tokens to trade –  clearly a factor why BiKi has emerged as the industry dark horse.

Conversely, projects who list on BiKi see the exchange as a stepping stone to gain a new level of recognition in the industry. Listing on BiKi has become somewhat of a yardstick measure of project quality, aided in no small way by BiKi’s 130,000 daily active users who organically generate demand for their tokens.

Gaining and Retaining Market Share

The sustainability of an exchange is actually not dependent on its current profitability, but on its ability to retain its users and effectively recruit new ones. BiKi was the first exchange to acquire users through its ‘community fission’ model, which is a way of scaling communities using recommendations from present users to attract more users.

Blockchain projects cannot succeed without strong communities, and the network dynamics BiKi uses to acquire users are one of its core competitive advantages. Presently, BiKi has more than 200 official community groups, more than 100,000 community members, and is still growing at a rate of 300 new members per day.

Using its “Community Partners Programme” to attract new users daily, BiKi currently has over 1000 Community Partners and is increasing at a rate of 30 per day. BiKi’s targeted 10,000 Community Partners within 2019 is estimated to bring with them 500,000 new users to the exchange.

Similar to Chinese e-commerce platforms Yunji and Pinduoduo, BiKi’s Partner Program rewards Community Partners who introduce more active users to the platform. The ‘community fission’ model shifts the responsibility of customer acquisition to present customers themselves and its inherent network dynamics builds a base of new users that continues to ‘grow’ other users.

What is important to note, though, is that despite the program restricting the network to only two tiers of membership, the efficacy of this model speaks for itself – BiKi has managed to amass 130,000 daily active users and USD 15 million in Q2.

During a bear market, BiKi.com acquired 1.5 million registered users on the exchange, setting an industry precedent in user acquisition. BiKi’s strong base of relationships and users provides a clear value proposition that projects can tap into to reach their milestones. The exchange continues to welcome projects to join the growing community of choice projects currently listed on BiKi.com.

About BiKi.com

Headquartered in Singapore, BiKi.com is a global cryptocurrency exchange that provides a digital assets platform for trading more than 100 cryptocurrencies and 220 trading pairs. Since beginning operations in June 2018, BiKi.com is considered one of the fastest-growing cryptocurrency exchanges in the world with an accumulated 1.5 million registered users and 130,000 daily active users, ranking within the top 20 exchanges globally.

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Props Launches the First SEC-Approved Crypto Token for Consumers

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Crypto Token

Props, a crypto token that enables apps to reward users and content creators with a financial stake in the network they engage with, is now available to millions of users, as the offering of Props has been qualified under Reg A+ by the U.S. Securities and Exchange Commission.1 Props is the first consumer facing crypto token qualified by the SEC. Live video app YouNow announcing today at VidCon—the world’s largest video creator conference—that starting today, its content creators and other users may begin earning Props as a reward for common in-app activities that drive community engagement. In addition, 47 million registered YouNow users are now eligible to receive Props Tokens, in recognition of their lasting contributions to the network.

The Props team is building open source infrastructure for a network of apps capable of transparently and fairly rewarding those who help network growth.3 The Props platform abstracts the blockchain infrastructure for apps, enabling them to easily plug Props Tokens into any app4 and create their own token-based “loyalty program.” As more apps join the network, users will be able to use Props tokens to unlock additional benefits across apps.5 Users hold the Props they earn for those benefits, and enjoy the upside potential of owning a financial stake in the network.

“Online video content made by independent creators has become massively popular, but still lacks diverse ways for creators to turn their content to a meaningful source of ongoing income,” said top YouTuber and Props investor Casey Neistat. “I’ve been working with the Props team as we share a similar vision, to help creators find ways to earn more value off of their passion for making videos.”

On YouNow—the first app on the Props Network—users can earn Props Tokens by creating content, supporting their favorite content creators, and actively engaging with the app, just like they always have. Based on their Props holdings, users receive unique benefits on the app, such as a daily stipend of YouNow’s in-app currency, increased in-app status, exclusive virtual items and coming soon, discounts and other features.6

Following the SEC’s official approval of Props, another company announced today that its apps will join as a partner in the Props Network: SplitmediaLabs, makers of XSplit, a high-end software for game streamers with more than 13 million users. Henrik Levring, CEO of SplitmediaLabs said “By integrating Props into our apps, we become even more aligned with our loyal users. Our users can already start earning Props when they stream to YouNow from XSplit.”

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Cuba Studying Cryptocurrency as Part of Economic Crisis Measures

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Cuba’s Communist government said on Tuesday it was studying the potential use of cryptocurrency as part of a series of measures to boost its economy amid a deepening crisis exacerbated by U.S. sanctions. Cryptocurrency, which allows financial operations to be carried out anonymously, has been used in the past to get around capital controls. Cuba’s top ally Venezuela introduced a cryptocurrency last year aiming to avoid U.S. sanctions and weather hyperinflation, although it never properly got off the ground.

Cuba’s inefficient state-run economy is facing a crisis due to a sharp decline in Venezuelan aid, lower exports and the tightening of the decades-old U.S. trade embargo under President Donald Trump.

The new measures, announced on a roundtable on state-run TV by President Miguel Diaz-Canel and his government, will raise income for around a quarter of the population and deepen market reforms of one of the world’s last Soviet-style command economy’s started by the island nation’s previous president, Raul Castro.

The aim is to raise national production and demand in order to boost growth as U.S. sanctions target tourism and foreign investment. Diaz-Canel, working to establish his legitimacy after assuming the presidency in April 2018, said the government was working on the details of the implementation.

“We are studying the potential use of cryptocurrency … in our national and international commercial transactions, and we are working on that together with academics,” Economy Minister Alejandro Gil Fernandez said.

The most popular measure in the new package will likely be the hikes in some pensions and wages for workers in public administration, social services and state-run media, bringing the medium monthly wage in those sectors up to the equivalent of $44.5 from around $25 previously.

Many Cubans say the measure still will not be sufficient to breach the gap between salaries and the cost of living. Nonetheless it should boost purchasing power, as long as inflation is kept in check.

“It’s not ideal, but it’s an advance,” said Pavel Joaquin Hernandez, 46, a general practitioner who will go from earning the equivalent of around $40 per month to $64.

Cuban economist Omar Everleny said the raise was crucial given how demotivated workers were, with many emigrating.

“For the first time, (the government) is linking the fact that everything can be achieved if workers are motivated,” he said.

Gil Fernandez said the government was also broadening a series of measures aimed at decentralizing and thus improving state-run company performance and stimulating local production, substitution of imports and increasing exports. For example, he said, financial service companies would be established to provide cash in the face of opportunity more quickly than the centralized planning system.

The government would also expand a system allowing some companies to keep a percentage of the hard currency they earn in order to reinvest it immediately rather than have to apply for credit.

State companies, agricultural entities and other economic actors that supply a growing number of firms in the Mariel Special Economic Zone, a project resembling China’s first capitalist oasis, would receive a percentage of sales in hard currency, Gil Fernandez said.

The government was also studying how to allow the growing number of small private businesses to export through the state-run businesses, he said.

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Facebook’s Libra must obey anti-money laundering rules: French central banker

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Libra

Facebook’s planned global ‘Libra’ cryptocurrency must respect anti-money laundering regulations and it must seek banking licenses if it offers banking services, France’s central bank chief said in a magazine interview.

Facebook Inc announced plans last week to introduce a new global cryptocurrency called Libra as part of an effort to expand into digital payments.

Bank of France Governor Francois Villeroy de Galhau said that while there was room to improve cross-border money transfers, Libra had to follow anti-money laundering rules.

“The risks are increased by the anonymity that Libra users would have,” Villeroy said in an interview with French weekly magazine L’Obs, adding that Libra would have to ensure transactions and users’ data were fully secure.

“If the project seeks to go beyond payments to offering banking services like deposits, it will then have to be regulated like a bank with a banking license in all the countries it operates. Otherwise it would be illegal,” he said.

France is using its year-long presidency of the Group of Seven nations (G7) to set up a task-force to tackle such concerns at an international level.

It has been charged with studying how cryptocurrencies like Libra are governed by regulations ranging from money laundering laws to consumer-protection rules.

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While there’s still interest in cryptocurrencies, just one-in-ten understand how they work

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The Kaspersky’s report, ‘Uncharted territory: why consumers are still wary about adopting cryptocurrency’, reveals that whilst 29% of people have some knowledge of cryptocurrencies and there is a demand among many to use the technology, just one-in-ten (10%) fully comprehend how they work.

The rate in which cryptocurrencies are being adopted by global consumers is slowing down, despite celebrities like Johnny Depp and YouTube influencers such PewDiePie embracing the technology. Many consumers still lack a proper understanding of how cryptocurrencies work and this is continuing to halt mainstream adoption. To date, four-in-five people (81%) have never purchased cryptocurrency, highlighting just how far away we are from it being accepted as a common form of payment or investment.

Kaspersky’s survey found that there is a desire amongst many consumers to use cryptocurrency, but a knowledge gap is getting in the way of taking the plunge. In addition, many people who thought they knew with what they are dealing with, later decided against using cryptocurrency. Nearly a fifth (18%) stopped because it became too technically complicated.

This lack of understanding could be leading to mistrust in cryptocurrencies’ ability to keep consumers’ money safe. For instance, nearly a third (31%) of respondents stated that they believe cryptocurrencies are quite volatile and they need to be stabile before they are prepared to use them. There is also a common perception amongst consumers that cryptocurrency will not be around forever. A third (35%) believe cryptocurrencies are a fad that is not worth bothering about.

While widespread interest in cryptocurrencies may have already peaked, there is still a demand to use the technology. Almost every sixth (14%) of those surveyed said that while they are not using cryptocurrency at the moment, they would like to do so in the future. Yet there is still doubt amongst consumers – often led by a fear that there is a real risk to their finances. Fraudsters can use cryptocurrencies to their advantage, with around one-in-five (19%) of those surveyed saying they have experienced hacking attacks on exchanges. Criminals also create fake e-wallets to attract people to unwisely invest their money, and 15% of consumers have been victims of cryptocurrency fraud.

Following several years of cybersecurity research into crypto start-ups, Kaspersky recommends crypto businesses adopt best security practices for smart contract developers, use proven frameworks for smart contracts (such as https://openzeppelin.org/) and conduct a third-party assessment of the smart contract to ensure any potential vulnerabilities are not missed.

“It is clear that mainstream adoption and growth of cryptocurrency is being held back due to the vulnerable nature of the technology. While there is a high appetite to use it, giving your hard-earned cash to something you don’t fully understand, or trust, is a hurdle. With the safety of investments being of paramount importance to consumers, it is vital that they take their own steps to safeguard it. Like with any cyberthreat, there is no substitute for vigilance – if something looks too good to be true, then it probably is. If you want to trade crypto-assets on any exchange, pay attention to the safety of your account’s credentials. If your goal is long-term investment or use crypto-currencies for payments, then store it in safe environments and use multiple wallets, or distribute between both software and hardware. We also encourage crypto businesses to organize themselves effectively to show they are able to protect their customers’ investments,” Vitaly Mzokov, Head of Commercialization at Kaspersky comments.

To help improve stability and foster trust in cryptocurrencies, Kaspersky partners such as Merkeleon have developed legitimate marketplace platforms, online auction platforms, cryptocurrency exchanges and crypto payment systems.

“Cryptocurrency certainly has its benefits but, as we can see, many consumers are still unaware of what they are due to concerns over security and how the technology works. It is an exciting industry to be involved in but it is one that is built upon trust. It is, therefore, imperative that cryptocurrency businesses do all they can to protect their networks and ensure their customers’ finances are safe and secure,” explains Alexey Sidorowich, Head of Sales and Business Development at Merkeleon.

For further information on how we provide transparent and powerful protection for crypto-trading platforms and token offering projects, please click here. To learn more about protection for consumers, please visit our website.

To find out more about how consumers feel towards cryptocurrencies, visit https://www.kaspersky.com/blog/cryptocurrency-report-2019/

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Top 5: BTC, ETH, XMR, NEO and LTC

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Bitcoin Sell

Neo (NEO) co-founder Da Hongfei had recently announced a new $100 million EcoBoost fund that aims to provide support to various projects at different stages of development to build the NEO ecosystem. The first phase of the project has kicked off wherein official partners will be recruited.

The recent upgrade of its consensus algorithm on its mainnet is a key step in the development of NEO 3.0, which is expected to be released by the second quarter of next year. Can these developments prop prices higher? Let’s find out.

NEO/USD

The NEO/USD pair has not shown any fireworks in its rise from the bottom. After every small upwards move, it enters into consolidation before rising again. This looks like an accumulation by stronger hands. The price has sustained above 20-week EMA for the past three weeks and the RSI has rallied into the positive territory, which shows that bulls are in command.

Currently, the pair is facing stiff resistance at the 50-week SMA, above which the rally can extend to $20. If this level is also crossed, a move to $25 is probable. The cryptocurrency will pick up momentum if it makes a large range move and follows it up with further gains. Traders can watch for such a move before hopping on to benefit from the positive momentum.

Our bullish view will be invalidated if the price reverses direction from the current level and plummets below the 20-week EMA. The next support to watch on the downside is $8.17090666.

LTC/USD

Litecoin (LTC) has continued to perform well on the back of its upcoming halving, which is 50 days away. In a sign of growing adoption, Glory kickboxing is not only accepting litecoin, but it is also offering an opportunity to pick up a VIP ticket by paying using the cryptocurrency. This adoption is a positive sign. However, after the runup, is it time to book profits or can it move higher? Let’s find out.

LTC/USD

The digital currency has cleared the resistance line of the ascending channel and is now attempting to ascend the overhead resistance at $140.3450. If successful, it can rally to its target objective of $158.91, above which the upward move can extend to $184.7940.

We have spotted a large rounding bottom that is developing on the LTC/USD pair. This bullish setup will complete on a breakout and close (UTC time frame) above $184.7940, with a target objective of $346.498. However, we will not get overly bullish until the pattern completes.

The 20-week EMA is sloping up and the RSI has entered into the overbought zone, which shows that the bulls are in command. Nonetheless, the overbought nature of the RSI points to a mild correction or a consolidation in the short-term.

If the pair turns down from the current levels or from $140.3450, the bulls will try to defend the support line of the ascending channel. If successful, the uptrend will continue, otherwise, the pair might re-enter the channel. The uptrend will weaken and our bullish projections will be negated if the bears sink the cryptocurrency below the support line of the channel.

BTC/USD

Bitcoin (BTC) is on fire as every dip is being bought aggressively. Some of the critical news and events that might be helping the rise are the upcoming testing of futures trading on the Bakkt platform, the end of the bear market, the ongoing trade war between China and the U.S., the reported launch of Facebook’s own stablecoin, etc. Can the rally continue and force the investors sitting on the sidelines to jump in, or will the rally fizzle out near the overhead resistance? Let’s find out.

BTC/USD

The BTC/USD pair is looking strong with the 20-week EMA sloping up and the RSI in overbought territory: this suggests that bulls are in command. The pair has broken out of the recent high at $9,053.12 and will now attempt to reach the next overhead resistance of $10,000. This is a psychological resistance where we anticipate a consolidation or a minor correction.

However, the sentiment has become positive and any favorable news is likely to attract buyers. The traders who are waiting to buy at lower levels are feeling left out. Hence, if the bulls propel the price above $10,000, the momentum can pick up and can carry the pair to $12,000.

Currently, there is no negative setup on the chart. The first indication of exhaustion will be if the bears sink the cryptocurrency below $7,413.46. That can drag the price towards the 20-week EMA and below it to the critical support of $5,900.

ETH/USD

Enigma released the testnet of its discovery network and the developers can now build decentralized applications that can be deployed immediately once Enigma goes live on the Ethereum (ETH) mainnet . In a first, Coinbase has also added a course on the Ethereum-based stablecoin dai (DAI) to its Coinbase Earn platform. This provides an opportunity for enthusiasts to know more about the token and earn some DAI. Can ether breakout of the overhead resistance and head higher?

ETH/USD

The ETH/USD pair is consolidating roughly between $225 and $300 for the past three weeks. This is a positive sign as it shows demand close to $225. The moving averages are on the verge of a bullish crossover, which indicates a change in trend.

The longer the consolidation, the stronger the eventual breakout from it will be. If the bulls push the price above $307.67, it is likely to start a new uptrend that can carry the pair to $500, which is likely to act as a stiff resistance.

Our bullish assumption will prove to be wrong if the bears defend the overhead resistance zone of $280 to $307.67 and sink the cryptocurrency below the moving averages.

XMR/USD

A web address is spreading a botnet that installs a monero (XMR) mining component and also holds DDoS capabilities, according to cybersecurity firm Trend Micro. However, in a positive for monero, the CEO of Binance tweeted that if India pushes through the crypto bill, the crypto enthusiasts of the country might shift to privacy coins.

XMR/USD

The XMR/USD pair has been consolidating between $81 and $100 for the past three weeks, which is a positive sign. The price has sustained above both moving averages, which are likely to complete a bullish crossover. This will indicate a change in trend.

If the bulls push the price above $100, a rally to $150 in the medium-term is probable. It is unlikely to be a straight dash to this level as the cryptocurrency might face minor hiccups at $114.840 and $128.650. However, if the sentiment remains positive, these levels will be crossed.

The first sign of weakness will be a breakdown and close (UTC time frame) below $81. That can drag the price lower to the 20-week EMA and below it to $60.147.

The market data is provided by the HitBTC exchange. Charts for analysis are provided by TradingView.

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NEO’s Upgraded dBFT Consensus Mechanism Improves Stability and Reliability

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NEO Blockchain

The NEO team, which is hard at work building the Smart Economy of the future, has unveiled a key step in its move towards the NEO3 upgrade, releasing version two of its delegated Byzantine Fault Tolerance mechanism – dBFT 2.0 – on its MainNet.

The consensus mechanism has been improved to guarantee immediate transaction finality and includes a recovery method to help failed nodes on the NEO network get back online with minimal disruption.

Through the addition of the commit phase of consensus which forces nodes to commit to a single new block, the problem of forked blocks has been eliminated. This makes the network much more stable and transactions “truly irreversible,” a vital component for the commercial use of the NEO blockchain.

This is different from rival blockchain, Ethereum, which currently uses an energy-intensive Proof of Work model to achieve consensus and relies on ‘miners’ to produce and validate blocks, creating the opportunity for transaction reversal due to forks.

Erik Zhang, founder, core developer of NEO, and author of its original dBFT protocol, noted the significance of the move as another step towards the full launch of NEO’s next major upgrade, NEO3. This optimized protocol is touted for release in 2020 and aims to make the NEO blockchain ready for large-scale commercial applications such as YouTube, Alipay, or WeChat. He said:

“With this improvement, dBFT will have more strict finality. Users only need to wait for one confirmation (15 seconds) to ensure the irreversibility of the transactions and prevent double-spending. This is very suitable for financial applications.”

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Analytics: BSV, BNB, LTC, BCH and DASH

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Trading

Instant messaging service Telegram reportedly plans to launch its Telegram Open Network (TON) in the third quarter of this year. It has created a new programming language called Fift, which will help develop and manage TON blockchain smart contracts and interact with the TON Virtual Machine.

On the other hand, Facebook is allegedly planning to launch its own cryptocurrency in early 2020. The company expects its large user base to start using its cryptocurrency in a dozen countries for making purchases, transferring money and more. Mark Zuckerberg, the founder and chief executive of Facebook, has reportedly discussed the project with U.S. Treasury officials along with Mark Carney, the governor of the Bank of England.

Bitcoin bull Michael Novogratz believes that one of the crypto assets created by the above-mentioned companies is likely to be successful and can even have a “chance to be a real currency.” He also reiterated that the “crypto winter is over” in comments this week. And, according to token rating platform ICObench, the ICO sector is showing a higher success rate as the sentiment improves.

BSV/USD

Bitcoin sv (BSV) was the best performer among the major cryptocurrencies with a rally of above 60% in the past seven days. The boost came amid the news that nChain founder Craig Wright had filed United States copyright registrations for the Bitcoin white paper and the original code used to build Bitcoin. However, the bitcoin community and a few experts do not consider this to be an important event that can alter the fortunes of bitcoin sv. But what do the charts project? Let us find out.

BSV/USD

The BSV/USD pair skyrocketed this week and reached the overhead resistance of $134.360. However, profit booking and selling just above this resistance resulted in the pair giving up a large part of its gains. The cryptocurrency should find some support at the current levels, failing which, the drop can extend to $82.489 and lower.

While the sharp up move from the lows shows buying at lower levels, the failure to hold onto the gains shows a lack of demand at higher levels. The pair will pick up momentum on a close (UTC time frame) above $134.360 and will weaken below $38.528. Until then, it is likely to remain range bound between these two levels.

BNB/USD

Binance coin (BNB) has been one of the strongest performers among the major coins: it has consistently made new highs and is in a strong uptrend. Riding high on its success, cryptocurrency exchange Binance is reportedly planning to offer margin trading to its clients. The exchange is also giving away $1,000 of $ONE tokens to celebrate the launch of the forthcoming token sale. How far can the rally continue? Let us find out.

BNB/USD

The BNB/USD pair is in a strong uptrend and has picked up momentum after breaking out of previous lifetime highs. Earlier, the resistance line had acted as a major roadblock, but the bulls are currently attempting to breakout of it. If successful, the rally can extend to $40 and above it to $46.1645899, which is a 1.618 Fibonacci extension level.

But the rally is getting vertical and the RSI on the weekly charts is threatening to enter deeply overbought territory. This shows that the up move has been overdone in the short-term, and that a minor correction or consolidation can start between $40 and $46.1645899.

LTC/USD

Litecoin (LTC) is benefitting from the positive sentiment in the crypto space, and the forthcoming halving has added to the bullishness. A series of tweets by OKEx pointing to some kind of an announcement regarding Litecoin has also heightened interests. Can the upward move continue?

LTC/USD

The LTC/USD pair has completed a cup and handle reversal pattern that has a minimum target objective of $158.81. If the momentum continues, the upward move can extend to $172.647. The moving averages completed a bullish crossover a couple of weeks back and the 20-week EMA is sloping up: this shows that the bulls have the upper hand.

Our bullish view will be invalidated if the cryptocurrency fails to sustain the breakout and dips below the support of $91 once again. The support levels to watch on the downside are $84.3439, $74.6054 and below it to $60.1980.

BCH/USD

Two miners who control about 43% of the bitcoin cash (BCH) mining pool, BTC.top and BTC.com, joined hands this week and executed a 51% attack to stop an unknown miner from taking coins that were accidentally sent to “anyone can spend” addresses. In this case, the attackers did not carry out the 51% attack for their own benefit, but still some believe that it shows that the cryptocurrency is too centralized. How does its chart look?

BCH/USD

The BCH/USD pair is currently rising inside an ascending channel. It has crossed above both the moving averages, which is a positive sign. The bulls are facing selling at the resistance line of the channel, but the positive thing is that the pair has not given up ground. If the price holds above the 50-week SMA, we should see another attempt to breakout of the channel. If successful, a rally to $620 is probable.

On the contrary, if the bulls fail to scale the resistance line of the channel, the digital currency can dip to the support line of the channel, closer to $300. A breakdown of this support will break the trend.

DASH/USD

Dash (DASH) released its latest version 0.14 on the mainnet, which is another step leading to version 1.0, dubbed evolution. The upgrade improves the security of the network against 51% mining attacks, the first for proof-of-work networks, according to Dash Core CEO Ryan Taylor. An analysis by Cryptoslate shows that DASH has seen a growth of 58% in the active address count from 2018 to 2019, the largest growth among the major coins. This was reportedly mainly due to the surge in usage in crisis-hit Venezuela.

DASH/USD

The DASH/USD pair has been facing resistance at $176.81 since the past week, and a breakout of this barrier will propel the pair to the next level of $229.24. We expect the bulls to again face selling at these levels. Currently, both the moving averages are on the verge of a bullish crossover and the RSI is in the positive territory. This shows that the bulls are at an advantage.

However, if the digital currency turns down from $176.81, it might enter into a consolidation. The support of the range will be at $107.36, and a break of this support will be a bearish sign.

The market data is provided by the HitBTC exchange. Charts for analysis are provided by TradingView.

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Facebook Plans to Launch ‘GlobalCoin’ Currency in 2020

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Facebook

Facebook is finalising plans to launch its own crypto-currency next year. It is planning to set up a digital payments system in about a dozen countries by the first quarter of 2020.

The social media giant wants to start testing its crypto-currency, which has been referred to internally as GlobalCoin, by the end of this year. Facebook is expected to outline plans in more detail this summer, and has already spoken to Bank of England governor Mark Carney.

Founder Mark Zuckerberg met Mr Carney last month to discuss the opportunities and risks involved in launching a crypto-currency. Facebook has also sought advice on operational and regulatory issues from officials at the US Treasury. The firm is also in talks with money transfer firms including Western Union as it looks for cheaper and faster ways for people without a bank account to send and receive money.

How will Facebook’s crypto-currency work?

Facebook wants to create a digital currency that provides affordable and secure ways of making payments, regardless of whether users have a bank account.

The social networking site, which owns WhatsApp and Instagram, is hoping to disrupt existing networks by breaking down financial barriers, competing with banks and reducing consumer costs.

  • JP Morgan creates crypto-currency
  • Facebook bans all crypto-currency ads

Nicknamed Project Libra, Facebook’s plans for a digital currency network were first reported last December.

The project will see it join forces with banks and brokers that will enable people to change dollars and other international currencies into its digital coins.

A small group of co-founders are expected to launch the Swiss-based association in the coming weeks.

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Ethereum Foundation Spring 2019 Update

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Ethereum

Ethereum’s future is bright. Over the last 12 months the Ethereum community — a global collection of developers, entrepreneurs, researchers, and passionate users — has made tremendous progress. Every week, new applications built on Ethereum launch to mainnet, scalability solutions come online, and ETH 2.0 moves closer to key milestones. Ethereum remains the de-facto platform for decentralized applications, and is used every day to secure billions of dollars in digital assets.

The Ethereum Foundation’s team is thrilled to see the progress happening across the community. We have worked to support the ecosystem since Ethereum’s earliest days as a non-profit dedicated only to doing what is best for Ethereum.

As the ecosystem has matured, the Ethereum Foundation has refined its focus. “Doing what is best for Ethereum” doesn’t mean trying to do everything — it means focusing on where we can add the most value, and leaving space for others to add value in the areas that they will be the most effective.

So what is the Ethereum Foundation’s role today?

The Ethereum Foundation is a resource allocator, a voice in the ecosystem, and an advocate for Ethereum to the world.

Resource Allocator

Today, the Foundation holds approximately 0.6% of all ETH, as well as reserves held in cash. These resources are intended to decrease over time, as they are invested in critical work across the ecosystem. These are significant amounts of capital but they are not infinite. It is our responsibility to ensure that every last dollar and wei is spent effectively.

We are also working to grow the Ethereum ecosystem’s funding base. This means encouraging other organizations besides the Foundation to support high-priority projects, and supporting innovative mechanisms for funding, including Gitcoin grants and MolochDAO. Efforts like these give us better leverage from our existing resources, and help build a sustainable path for funding vital projects far into the future.

A voice in the ecosystem

We understand that many look to the Foundation as a valued voice even as we move to proactively empower others. That voice is a resource that can be used effectively to advance Ethereum. We are able to, for instance, bring attention to important but relatively unknown projects, share valuable information about Ethereum’s progress with the public, and encourage the growth of regional Ethereum communities.

Moving forward, expect the Ethereum Foundation to be a more active voice in the Ethereum community.

An advocate for Ethereum to the world

To the outside world, Ethereum can be confusing — and that’s probably an understatement. Many newcomers don’t understand our vibrant and decentralized ecosystem because they’ve never seen anything like it before.

When someone (a major company, a government or a regular person) finds their way into our world, the Ethereum Foundation is often their first stop. The first thing we tend explain is that the Ethereum ecosystem is distributed and not owned or operated by any foundation or organization. Our Foundation helps to represent Ethereum to the outside world as an effective portal that people can pass through to the ecosystem itself.

We also recognize a need to take more initiative in growing the Ethereum ecosystem, on-boarding developers and improving the developer experience. As discussed in more detail below, we intend to deploy significant resources towards these goals.

2. Our Philosophy

Ethereum is not a typical open-source project, and the Foundation is not a typical organization. Successfully fostering a vibrant decentralized Ethereum ecosystem requires a specialized approach.

Even as we deploy significant resources across the ecosystem to improve Ethereum, we must do so in a way that maintains the core spirit of decentralization. We have deliberately adopted a philosophy of subtraction, which informs everything that we do.

In plain language, following a philosophy of subtraction means resisting the natural tendency of organizations to grow and accumulate value within themselves, and ensure instead that this value is created outside the Foundation in the broader Ethereum ecosystem.

EF: A Philosophy of Subtraction
Instead of capturing opportunities for ourselves, we distribute those opportunities to the community. Instead of pulling everything in-house, we push our resources out to teams across the ecosystem. We don’t compete with the ecosystem — we are thrilled when other organizations create value, because that means Ethereum is becoming more decentralized and sustainable.

The Ethereum Foundation succeeds if Ethereum succeeds, and Ethereum succeeds with a strong decentralized community. That understanding governs how we work.

3. Highlights from Ethereum Foundation-supported teams

The last 12 months have been a crucial period for Ethereum, and we have worked extremely hard to support teams across the ecosystem. Encompassing all the progress made by teams supported by the EF in this letter is impossible, but here is a selected sample:

ETH 2.0 client teams

ETH 2.0 is a name given to a set of transformative upgrades for the Ethereum protocol. Last year, this effort moved from a research project to an engineering effort. Client teams supported by the Foundation including Nimbus, Prysm, Sigma Prime, and Substrate Shasper are among those working to turn ETH 2.0 into a reality.

Over the last few months the NimbusPrysm, and Sigma Prime’s Lighthouse testnets have launched. These teams and others are now stabilizing and optimizing their clients, getting ready for multi-client testnets.

Many resources are shifting into testing, fuzzing, and audits over the coming months. We engaged Runtime Verification to formally verify the deposit contract and to formally specify the Beacon Chain. This is in addition to considerable effort by the research, development, and security teams involved in ETH 2.0 toward reliability and security.

ETH 1.x

The ETH 1.x initiative, which started last year, focuses on improving Ethereum’s short term scalability and sustainability with an eye to easing the transition to ETH 2.0. Efforts we’ve funded include Alexey Akhunov’s research into stateless clients and state fees, and Andrew Ashikhmin’s research into sync protocol improvements.

Work continues on essential projects like Geth and Solidity as well, and regular updates from all supported teams are on the way.

ZK-rollup

ZK-rollup uses succinct zero-knowledge proofs to enable Ethereum to reach hundreds of transactions per second. We’ve supported Barry Whitehat and Matter Labs’ collaboration, which has led the way on research, development, and implementation.

ETHGlobal

ETHGlobal hosts Ethereum hackathons around the world, focused on on-boarding new developers into the ecosystem and facilitating project and company creation. At a recent event, ETHCapeTown, 70% of attendees were from South Africa and 40% of attendees were new to Ethereum.

Ethereum Academic and Research Collaboration

The Ethereum Foundation hosted three research workshops at Stanford and MIT, through which dozens of talented mathematicians, computer scientists, and economists were introduced to research problems originating in Ethereum. Many have continued working on these problems, leading to progress in areas essential to the future of Ethereum including Casper CBC, VDFs, Plasma constructions, succinct zero knowledge proof based systems, liveness, and safety bounds for Ethereum 2.0 among others.

Additionally, the Cryptophage collaboration between the Ethereum Foundation, Supranational, and Protocol Labs produced a solution to renowned cryptographer Ron Rivest’s LCS35 time capsule crypto-puzzle that required only two months, as opposed to the projected 35 years.

Working with prominent organizations to encourage their engagement with the Ethereum ecosystem

In our role as an advocate for Ethereum to the outside world, the Foundation has worked to encourage high profile organizations to engage with Ethereum in ways that strengthen the whole ecosystem.

Notably, we have been working closely with Microsoft Azure’s team in a long-term commitment to support the Ethereum developer experience through Visual Studio Code and the new Azure Blockchain service.

We have also connected with large entities like HTC and Opera, encouraging them to engage with the Ethereum community and support Ethereum-based applications, and with non-corporate organizations like UNICEF to help find ways to use Ethereum for social good.

There’s a lot more being done by Foundation-supported teams than just the examples listed above. Stay tuned for more updates coming from these teams in the next few weeks.

4. Allocating Resources over the next 12 months.

An ecosystem-level view for Ethereum support

Today, we’re excited to share more information about the Foundation’s priorities for the next year, and how we expect to allocate resources across the ecosystem.

As we’ve learned and iterated, we’ve made necessary changes to our processes and priorities. When the Ethereum ecosystem was much smaller, it made sense for the Foundation to prioritize several “in-house” teams to work on the most fundamental projects. As the community grew, we began a Grants program that enabled us to support more teams throughout the ecosystem.

Today, it shouldn’t matter to the Foundation whether a project is “internal” or “external”. What matters is that we’re spending resources effectively, and that Ethereum’s goals are accomplished. This is why we are moving toward an “ecosystem level view” when allocating resources by looking at the whole picture rather than at a subset of it.

Over the next year, the Ethereum Foundation plans to spend $30 million USD on key projects across the ecosystem. This budget is insulated against downward ETH price movement.

We believe that this is a critical time for Ethereum, justifying significant investments in important work across the ecosystem.

Allocating across such a large and vibrant ecosystem is a substantial optimization challenge. We are constantly re-evaluating and optimizing our decisions, and new opportunities for leverage appear every day.

To help clarify how we define our highest priorities, we describe below three primary categories of resource allocation: (i) Building the Ethereum of tomorrow, (ii) Supporting the Ethereum of today, and (iii) Developer Growth & Awareness.

i. Building the Ethereum of tomorrow

$19 million earmarked over next 12 months

Ethereum remains a highly ambitious technical project, and significant resources are required to fund the R&D that will realize the Ethereum community’s ambitions. Critical work is underway across the ecosystem on active engineering projects like ETH 2.0, and on more long-term investments like growing the academic community’s involvement in Ethereum technology.

This includes:

  • ETH 2.0: Client teams, Research, VDF, documentation and communication
  • Layer 2: State channels & Plasma
  • Continuing work on eWASM
  • Smart contract languages
  • Formal verification, auditing, and specification work
  • Zero-knowledge R&D, including ZoKrates
  • Ethereum “Phase 3 and Beyond” R&D
  • Working directly with academic institutions and attracting exceptional research talent

ii. Supporting the Ethereum of today

$8 million earmarked over next 12 months.

Ethereum is used in production today to secure billions of dollars of assets and as a base layer for many hundreds of live applications. We believe that it is vital to continue supporting these efforts to ensure that “Ethereum 1.0” continues to be the world’s dominant smart-contract platform.

This includes:

  • Many initiatives under the banner of “ETH 1.x”
  • Geth
  • Solidity
  • Web3.js and Ethers.js

iii. Developer Growth & Awareness

$3 million earmarked over next 12 months

Developers, developers, developers.

Ethereum is a platform and the developers who build on it are a key part of our future. It is critical to invest in developer relations, education, and on-boarding today in order to grow the Ethereum community and to ensure our continued success. This is especially important in Asia, where significant opportunity exists for Ethereum to grow.

This figure also includes more traditional efforts to grow awareness of Ethereum, through marketing efforts at both technical audiences and at users of Ethereum-based applications.

This includes:

  • Developer education & on-boarding
  • Supporting community event organizations focused on developers, like ETHGlobal
  • Continuing to run Devcon as a yearly gathering for the Ethereum ecosystem
  • Supporting regional Ethereum community organizations
  • Developer experience improvements and developer tooling
  • Attracting exceptional developer talent
  • Encouraging browsers and other mass consumer technologies to seamlessly integrate Ethereum into their user experiences
  • Continued improvements to ethereum.org
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