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Ethereum Price Technical Analysis – ETH/USD Upside Drift

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Key Highlights

  • ETH price surged above the $640 level recently and traded to a new all-time high at $653 against the US Dollar.
  • A monster connecting trend line with resistance near $650-660 is preventing gains on the hourly chart of ETH/USD (data feed via SimpleFX).
  • On the downside, there is a bullish trend line with support at $580 on the same chart.

Ethereum price is super bullish against the US Dollar and Bitcoin. ETH/USD is correcting from $653, but it remains well supported for more upsides.

Ethereum Price Uptrend

There were heavy gains in ETH price above the $580 level against the US Dollar. The price surged higher and broke many resistances such as $600 and $640 on the way up. A new all-time high was formed at $653.32 from where the price started a downside correction. It has moved below the 23.6% Fib retracement level of the last wave from the $510.76 low to $653.32 high.

On the upside, there is a monster connecting trend line with resistance near $650-660 on the hourly chart of ETH/USD. The same trend line prevented gains above $653 and it might continue to protect gains. On the downside, the 50% Fib retracement level of the last wave from the $510.76 low to $653.32 high is around $582 to act as a support. Moreover, there is a bullish trend line with support at $580 on the same chart. Therefore, the $580 level is a major support zone for the current wave.

Once the current correction is over, the price might move higher towards $653 once again. A break above the mentioned high could open the doors for more gains towards $680 and $700. On the downside, the $580 and $550 levels are good supports and buy zones.

Hourly MACD – The MACD is showing a lot of bullish signs.

Hourly RSI – The RSI is correcting lower from the overbought levels, but it remains in the bullish zone.

Major Support Level – $580

Major Resistance Level – $653

 

Charts courtesy – SimpleFX

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Celsius contributes the last 25,000 ETH to launch Ethereum 2.0

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Ether coins

Celsius, the industry-leading cryptocurrency rewards-earning platform, announced today that it has provided 25,000 ETH to the Ethereum 2.0 platform, giving it enough funds to meet its goal and launch on time. The contribution represents Celsius’s larger belief and support for Ethereum and the future of crypto.

“When Celsius first launched, we looked to Etherum to learn how to create a thriving, robust community,” said Alex Mashinsky, CEO of Celsius. “We built our CEL token on the Ethereum blockchain and used it to scale and become one of the fastest-growing companies in crypto. We are proud to inaugurate the Ethereum 2.0 Genesis and contribute the last building block with 25,000 ETH from the Celsius community and be a helping hand to a company that helped us scale our own project.”

The 25,000 ETH contributed from Celsius to Ethereum 2.0 are from Celsius’s pool of community assets and will be used to generate even higher yield for the community through Ethereum’s advanced blockchain platform. Celsius users can earn up to 7.21% APY on ETH held in the Celsius wallet, and earn rates from 3-15% APY on over 40 additional cryptocurrencies. Celsius also provides 1% APR loans with no origination fees to ETH holders and other asset users.

About Celsius
Celsius helps hundreds of thousands of consumers worldwide to find the path towards financial independence through a high compounding reward income wallet and low-cost loans accessible via a mobile app. Built on the belief that financial services should only do what is in the best interests of the depositor community, Celsius is a Blockchain-based fee-free platform where membership provides access to curated financial services that are not available through traditional financial institutions. For additional information please visit www.celsius.network

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Total Network Services Corp. Closes Series A Security Token Offering

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Total Network Services, Corp., a San Diego-based blockchain services company (“TNS” or the “Company”), today announced the close of a Series A round of security tokens. Deal Box Inc., a San Diego-based capital advisory and financial technology firm (“Deal Box”) structured the security token issuance and provided marketing support throughout the offering process.

TNS further announced that it intends to commence a follow-on Series B security token offering (the “Offering”) for up to $25 million. The Offering, which will begin in November, has been set at $1.00 per token with a minimum investment of $25,000, and will be promoted on the Deal Box dlbx.io marketplace.

The Offering will be made solely to accredited investors under Rule 506(c) of Regulation D promulgated by the Securities and Exchange Commission under the Securities Act of 1933, as amended (“Securities Act”). TNS has engaged Vertalo to manage its KYC/AML integration, tokenization and transfer agent service and, on close of the Series B offering, it intends to list on the Tezos XTZ Chain.

TNS intends to use proceeds from the sale of TNS tokens to complete the acquisition of key technology that to date, it has had the exclusive worldwide rights to market under the Digital Names ™ brand, in addition to global OTT network and related assets and intellectual property (“Acquired Assets”).

Thomas Carter, CEO of TNS, stated that “we are excited to have secured the rights to the technology we have been working so hard to develop and commercialize under a marketing agreement. In addition, the proceeds from this planned offering will provide capital that will enable us to launch a worldwide marketing campaign to promote Digital Names and our related service offerings.”

In addition, TNS intends to remain opportunistic in identifying complementary technologies as potential acquisition candidates that will enable it to broaden its solution set and accelerate its growth plan.

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LH-Crypto – Margin Trading with Cryptocurrencies

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bitcoin trading

In 2018, LH-Crypto has become one of the most successful projects in the crypto industry. The crypto community was particularly attracted to the hi-tech start-up’s ICO for its concept of the first-ever full-scale crypto broker. The idea worked out well, so two years later LH-Crypto continues amazing its investors and clients with the pace of its development and the high quality of its services.

LH-Crypto company was among the first to create a platform for investing cryptocurrencies, thus developing the whole industry. The experience that this professional team had accumulated helped them create a range of investment products for crypto owners which were a breakthrough for this trading subindustry.

LH-Crypto broker was the first one to give people an opportunity to trade crypto with leverage and invest it into the most conservative financial assets like stocks and precious metals.

LH-Crypto gives everyone access to trading 

An important part of LH-Crypto services is that they are easy to access for traders of all levels and capacities. One can start trading with as little as 10 Euro on his or her deposit. Clients with over 10000 Euro on their accounts receive advanced conditions for trading and withdrawal.

More than that, the company maintains the main principle of the crypto market – anonymity.  Whenever one opens an account in crypto, be it Bitcoin, Ethereum, Tether or other, it can be used with no special verification. This option, however, is not applied to the accounts denominated in Euro, for most of the payment systems are very strict about the rules for fiat currency transactions.

LH-Crypto provides high-quality operations thanks to the most cutting-edge trading platform. Clients’ orders are processed instantly, with no slippage and for the best market prices. The trading platform algorithms pick the best leverage level for each deposit, from 1:2 to 1:500 that helps eliminate unnecessary risks for every trading strategy.

Trading assets for everyone

The list of trading assets in LH-Crypto includes assets of both investing and speculative natures: cryptocurrency pairs, fiat currency pairs, mixed currency pairs, precious metals, commodities, stocks, indices – more than 240 listed assets.

Forex and crypto markets work round the clock, so it is possible to trade any time joining different trading sessions in different exchanges. Apart from that, iOS and Android-based mobile apps enable traders to follow the market and make orders wherever they are.

Automated deposit and withdrawal

Withdrawal from LH-Crypto account is just as easy as depositing funds. These procedures are performed both in the Client Area and in the trading terminal, so every operation can be made by just clicking several buttons.

Special offers and bonus programmes

Motivating offers are a crucial part of working with customers, so LH-Crypto regularly replenishes its clients’ accounts with trading bonuses and offers other trading privileges.

Transparent partnership

LH-Crypto takes special interest in enlarging its footprint, so the company readily partners with other projects and individuals both online and offline. The broker’s partnership programmes are famous for their high payouts, sparing requirements to the partners, and user-friendly support at all stages.

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Digital commodities exchange Emirex introduces Bitcoin SV trading pairs

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Bitcoin SV

Emirex, the Dubai-based digital commodities exchange, today announces that it has officially introduced support for Bitcoin SV [BSV] on its platform. With immediate effect, BSV/USDT and BSV/EUR trading pairs are listed and available for use. Emirex will also introduce a BSV/AED trading pair at a later date, which will be the first direct BSV/AED pair available in the market.

Demand for Bitcoin SV continues to climb globally, as the utility of its massively scaling blockchain drives growth across its ecosystem of applications and services, in addition to functioning as a popular payments rail due to its fast transaction times and very low transaction fees (sending a Bitcoin SV payment costs only 1/100 of a U.S. cent).

While strategically based out of the Middle East, the Emirex platform is truly global, offering investors and traders alike an easy avenue to acquire and trade digital commodities – including Bitcoin SV – within a regulatory compliant environment. Customers can fund their accounts using Visa, Mastercard, and Maestro, in addition to EUR SEPA transfer. USD, EUR and AED options via SWIFT transfer will also be available soon.

Speaking on the introduction of Bitcoin SV, Emirex CEO Grigory Rybalchenko, commented:

“Our cooperation with new projects is of high importance for our business performance. Today, we welcome the engagement with Bitcoin SV. It is a great pleasure for us to list such a promising project and we are looking forward to a long-term cooperation. The Emirex team will provide high-quality service and constant support to the BSV community in order to provide a better trading experience.”

Welcoming today’s announcement, Jimmy Nguyen, Founding President of Bitcoin Association – the global industry organisation which works to advance business on the Bitcoin SV blockchain – said:

“As demand for Bitcoin SV grows around the globe, the introduction of new trading pairs on the Emirex exchange facilitates another fiat onramp for those active in our ecosystem to buy and sell BSV.  Emirex has an exciting roadmap forward with expansion planned through the Middle EastAfrica and Europe – a journey that we are delighted Bitcoin SV will be a part of.”

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VirgoX Lists Canadian Dollar Stablecoin QCAD, Aiming to Establish a World Stablecoin Trading Center

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VirgoX

VirgoX announced that it will be partnering with Toronto based firm Canada Stablecorp to list QCAD, the first major Canadian dollar stablecoin on their exchange. Starting today QCAD will be available to buy, sell and trade on the VirgoX exchange platform. Initially, VirgoX will be offering QCAD as a trading pair to USDT but has plans to expand that to other major stablecoins including ones denominated in Asian currencies in the second half of 2020.

“VirgoX has a strong commitment to build the world’s first stablecoin trading center. It actively looks for stablecoin projects across different stages that are well-designed and likely to be adopted by global users both within and outside of the digital asset space. QCAD is the most promising Canadian dollar stablecoin that is backed by a team of experienced capital market professionals in Canada. It is our pleasure to work with the QCAD team and excited to be the first international exchange that lists and promotes QCAD. ” -Adam Cai, CEO of VirgoX.

This will be Canada Stablecorp’s first major international exchange integration and the launch of their first US dollar stablecoin trading pair. This integration with VirgoX will help to accelerate QCAD adoption internationally, enabling it to be the tool-of-choice to move funds in and out of Canada in a more efficient way.

“Canada Stablecorp is thrilled to bring QCAD onto the Virgo X platform as we truly believe in the promise and potential of establishing a venue to trade stablecoins against each other. This listing will provide the first major crypto native exchange rail between a Canadian Dollar Stablecoin (QCAD) and a US Dollar Stablecoin (USDT), a use case that we are very excited to be unlocking. The fiat FX market is the largest financial market in the world with over $5 Trillion traded daily. If we can help digitize and execute even a small percentage of that with Stablecoins, we would be helping and adding value to a significant number of companies and individuals.” – Jean Desgagne, CEO of Stablecorp

Over the last two years, stablecoins have seen a 415% gain in market capitalization, growing from $2.6 Billion in May of 2018 to over $10.8 Billion at the present day, according to CoinMetrics. This year the appetite for stablecoins has resulted in an additional $4 Billion added to the total market capitalization between February and May.

VirgoX will accelerate the establishment of a world Stablecoin trading center by launching a series of well-designed Stablecoins and incubate Stablecoin projects from early stages. With its complete ecosystem ranging from spot & contract trading, lending, global payments & remittance, traders can experience a full-functioning Stablecoin trading platform. VirgoX will launch more innovative products, such as Stablecoins empowered FX pairs, meeting the present needs of users and anticipating future demands.

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Sylo announces top-tier exchange listing for SYLO Token

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Sylo

Global software development house Sylo announced today the listing of their SYLO cryptocurrency token on major global exchange KuCoin. The SYLO token is available for public trading on the KuCoin platform effective immediately.

The release of the SYLO token has been a much-awaited next step from the creators of the Sylo Network, Sylo Protocol and next-generation decentralised app, the Sylo Smart Wallet. The successful release of the SYLO token is now just the latest in a string of authenticating milestones for the company.

“This is a very exciting time for our team and all our partners, collaborators and stakeholders around the world. This event has been a long time in the making and adds to a series of awesome developments we’ve seen here at Sylo over the past half a year,” says Dorian Johannink, Sylo Co-Founder and Business Director.

A utility token, SYLO, is an ERC20-compatible cryptocurrency token that fuels the Sylo Network. SYLO tokens are used on the network for a range of purposes, such as to allow users to become Service Peers or to access additional services available in the Sylo Smart Wallet.

A key zone of application for the SYLO token, the Sylo Smart Wallet is the New Zealand-based technology studio’s game-changing app that combines a digital wallet with a decentralised private messenger.

Released in global app stores just six months ago, the popularity of the Sylo Smart Wallet has been successfully climbing since its launch and the app now boasts over 200,000 users.

In the Sylo Smart Wallet, users can connect from the safety of a wallet address, send and receive digital assets in chat, make audio and video calls, and store Bitcoin or any ERC-20 compatible token, such as SYLO or Ethereum, in a non-custodial wallet.

Known as “The People’s Exchange”, KuCoin is a global cryptocurrency exchange with millions of users across more than 100 countries. Renowned for their human-centric motivation for Web3.0 and “user-first” approach to software development, the choice for Sylo to list their namesake token on KuCoin is a meeting of like minds.

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Crypto.com Exchange Features ETH on The Syndicate Lite

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aviation

Crypto.com is pleased to announce the listing of Ethereum (ETH) on The Syndicate Lite platform. All Crypto.com token (CRO) token stakers will be able to participate in a discounted sale event for 250,000 USD worth of ETH at 25% off. The listing event will commence on Tuesday, 14 April 2020 on the Crypto.com Exchange.

Syndicate Lite Allocation: Each participant’s maximum amount of CRO that can be applied towards the listing event will depend on the amount of CRO Staked on the Crypto.com Exchange, as shown in the table.

Syndicate Lite Allocation Subscription:

  • Crypto.com Exchange users will be able to subscribe for ETH by contributing an amount of CRO tokens not exceeding their respective maximum allocation.
  • Staked CRO tokens may not be used to subscribe for ETH in this event.

Listing Event Timeline:

Syndicate Lite Allocation Distribution: Listing Event participants will receive their finalised ETH allocation at Distribution Time. If the total contributed amount for the listing event is above the total discounted allocation, each individual participant’s final ETH coin allocation will be calculated in the table.

Notes:

  1. Crypto.com reserves the right to cancel or amend The Syndicate Lite campaign rules at its sole discretion.
  2. Citizens and residents of the United StatesChina and Hong Kong will be excluded from The Syndicate Lite campaign.
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Stellar Development Foundation Announces Strategic Investment in DSTOQ

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StellarX

Stellar Development Foundation (SDF) announces the closing of a strategic investment in DSTOQ Group AG. The investment of $715K, paid in lumens, is the first made by SDF through their new Enterprise Fund. DSTOQ, a Liechtenstein-based FinTech company, helps make investing accessible and affordable for people in emerging markets, through a borderless digital interface for security tokens built on the Stellar network, a global, decentralized open source blockchain. Through the DSTOQ interface, users have easier access to blue chip shares, such as Tesla or Amazon, as well as bonds, indices and commodities using fiat or cryptocurrencies.

DSTOQ’s first market will be Vietnam, followed by South Africa and other African, South American, and Asian developing countries. DSTOQ users require only a smartphone to access global financial markets, which thanks to Stellar’s infrastructure layer, makes the entire process not only more accessible but also more efficient.

About the investment, Denelle Dixon, CEO and Executive Director of the Stellar Development Foundation (SDF), said: “At SDF, we seek to unlock the world’s economic potential by making money more fluid, markets more open, and people more empowered. DSTOQ’s sharp focus on cross-border investing and their unique approach to helping people in emerging markets to gain access to investment opportunities abroad speaks directly to our mission at SDF. Together, we hope to improve the lives of millions of people while simultaneously creating exciting new business opportunities.”

Craig Mc Gregor, CEO and co-founder of DSTOQ, said, “We are grateful for SDF’s vote of confidence and continued support towards our shared vision of building and improving the global financial system. Together, DSTOQ and SDF aim to improve financial inclusion in markets that desperately need better access to global products. For too long these markets have been ignored – we look forward to changing that with this exciting technology.”

DSTOQ made the strategic decision to use blockchain technology in the development of its architecture due to some unique properties that benefit their business model. For example, Stellar enables the tokenization of assets, such as shares of Apple, in a far more efficient manner that allows users in emerging markets to invest at a fraction of what it would otherwise cost. The use of the Stellar blockchain proved to be a game-changing decision for the company, as they mention in their blog.

Jed McCaleb, co-founder and Chief Architect of Stellar, said, “DSTOQ is making markets accessible to new geographies, connecting the world’s global infrastructure in an exciting and innovative way. We are really excited to see companies like DSTOQ take the use cases for our technology to the next level.”

DSTOQ has focused on the building blocks of an entirely new financial system, developing the technology and partnerships required for its success. In the months to come, DSTOQ will share more insights on these foundational steps, including a new partnership with an innovative European bank with strong ties to Asia.

About DSTOQ
DSTOQ helps make investing accessible and affordable – for people in emerging markets. The group of DSTOQ companies provides services such as Token Generation for the creation of security tokens, as well as a digital interface for transactions of security tokens, through which users have easier access to blue chip shares, such as Tesla or Amazon, as well as bonds, indices and commodities using fiat or cryptocurrencies.

About Stellar
Stellar is a decentralized, fast, scalable, and uniquely sustainable network for financial products and services. It is both a cross-currency transaction system and a platform for digital asset issuance, designed to connect the world’s financial infrastructure. Dozens of financial institutions worldwide issue assets and settle payments on the Stellar network, which has grown to over 4 million accounts.

About Stellar Development Foundation
The Stellar Development Foundation (SDF) is a non-profit organization that supports the development and growth of Stellar, an open-source network that connects the world’s financial infrastructure. Founded in 2014, the Foundation helps maintain Stellar’s codebase, supports the technical and business communities building on the network, and serves as a voice to regulators and institutions. The Foundation seeks to create equitable access to the global financial system, using the Stellar network to unlock the world’s economic potential through blockchain technology.

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Dash and Cryptobuyer Announce Partnership to Serve Burger King Venezuela

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Burger King

Dash, the leading cryptocurrency for payments and e-commerce, has announced a new milestone in its partnership with Cryptobuyer, the leading platform to buy and sell cryptocurrencies in Latin America. Through the Cryptobuyer platform, Burger King restaurants in Venezuela will now accept Dash payments. Cryptobuyer’s point of sale system has been rolled out as a pilot, initially in Burger King Caracas at the Sambil store, as cryptobuyer and Burger King are aiming to serve all 40 locations nationwide in 2020. This development is the result of receiving significant demand from Dash users and local merchants in Venezuela.

“Dash usage continues growing at a rapid rate in Venezuela, as it provides an alternative that is a more reliable payment method and store of value,” said Ryan Taylor, Dash Core Group CEO. “We are happy to collaborate with Cryptobuyer to keep growing the Dash ecosystem and serve Burger King and its customers.”

This franchise roll-out marks yet another milestone in Dash’s expansion plans in 2019, as Venezuela continues to be a key target market for Dash. Already, around 1,000 verified merchants in Venezuela accept Dash at point of sale.

“The growth of Cryptobuyer in South America, especially in Venezuela, is another example of how this region is ahead of the curve in adopting cryptocurrency as a real method of payment,” said Cryptobuyer CEO Jorge Farias.“Venezuela portraits a mix of situations that make it a perfect ground to deploy real-world cryptocurrency solutions, such as hyperinflation, cash shortages, deteriorated banking and communication infrastructure. The factors,in conjunction with the government’s initiative to use cryptocurrency as a payment method, will push use and adoption of these cutting-edge technologies, and we are really proud to lead this push.”

Burger King has been training its teams and stores during the past weeks and will slowly roll out Dash payments into all stores in Venezuela, with plans to also accept the other cryptocurrencies in Cryptobuyer’s portfolio.

For more information on Dash, visit dash.org. For more information on Cryptobuyer, visit cryptobuyer.io.

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Korean Government Seeking to Levy Taxes on Cryptocurrency

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Korean

The government is seeking to impose taxes on capital gains from transaction of virtual currencies, including bitcoin, according government sources, Sunday. The Ministry of Economy and Finance confirmed it is pushing for the measure to be reflected in tax regulations next year.

“Related discussions have been taking place,” a ministry official said. “The revised bill will be drawn up by the first half of next year.”

A move to pass a related bill has also been taking place at the National Assembly.

A bill on enhancing the transparency of the trading of virtual assets awaits passage at sub-committee level. If the bill passes the Assembly’s plenary session, it will go into effect one year after the regulation is promulgated.

The government’s is seeking to include capital gains tax on virtual currency regardless of the bill’s passage.

But for this to be reflected in regulations, there needs to be a more precise definition of virtual assets.

The government also needs to decide if it will consider gains from the trading of virtual assets as the type of gains coming from stock trading or real estate transactions.

If this is the case, the government needs to obtain trading records from virtual currency exchanges, to be able to levy taxes accordingly.

The bill on trading of virtual assets requires virtual currency exchange operators to identify traders and retain separate records for each trader.

However, unlike share prices the price of virtual currencies varies according to exchange, so it is more complicated to determine market price at the trading point.

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