Delayed EOS rollout and the temporary shutdown of the blockchain addressed by Kyle Samani

Kyle Samani, the Managing Partner at Multicoin Capital was recently present on “Balancing The Ledger” show, a tech and finance intersect. The panel discussed some of the recent news in the crypto world, which included the cryptocurrency advertisements ban lift by Facebook.



Kyle thinks that it is good for the ecosystem, as Facebook is a good social media platform to communicate the upcoming innovations in the blockchain world to the billions of Facebook users.

Further, Samani shared his view on the $300 million worth venture fund by Andreessen Horowitz. He says that it is always good to raise funds through a known entity like Andreessen Horowitz, since crypto investments are new in the market.

EOS is one of the successful ICOs supported by Multicoin Capital. Samani spoke about the recent issues which EOS blockchain faced due to the system bugs. He concurred that though the EOS team had enough resources, they failed to perform as expected.
Samani also pointed out the poor performance of Ethereum back in 2015 when its blockchain was launched.

According to him, the performance of the EOS is much better than the initial phase of Ethereum.
When asked about his choice of cryptocurrency, Samani seemed to be bullish about Ethereum [ETH] considering its popularity and explosive growth. He says:
“If you asked me to pick one token today and come back in 10 years, I would select Ethereum.”


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While speaking of Litecoin [LTC], Samani mentioned that, in his view, Litecoin has no reason to exist and the only investment thesis he has ever heard for Litecoin is that it is a testnet for Bitcoin.

He concluded by sharing his opinion about Ripple [XRP]:
“It is clear to us that Ripple is a security. We do not know when that news is going to drop, however the catalysts seem to have kind of gone away from Ripple”

According to Samani, the issue with being a security is that none of the exchange platforms in the U.S have relevant license to trade the highly regulated cryptocurrencies. It will be a multiyear process before any of those venues obtain official certification.

He finally mentioned:
“If Ripple is labeled a security formally by the SEC, all of the cryptocurrency exchanges are going to stop trading it. So if that happens, liquidity is going to dry up on XRP and the price will plummet.”


Here at Dollar Destruction, we endeavour to bring to you the latest, most important news from around the globe. We scan the web looking for the most valuable content and dish it right up for you! The content of this article was provided by the source referenced. Dollar Destruction does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. As always, we encourage you to perform your own research!

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Author: Laira Rebecca
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Two of Russia’s Largest Banks to Offer Crypto Trading in Six Top Coins

Two of Russia’s largest banks, Alfa Bank and Sberbank, will soon be offering clients access to cryptocurrency portfolios that will permit the trading of six popular coins on major exchanges Kraken and Bitstamp.


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Crypto Trading Portfolio

Alfa Bank is the largest private bank in Russia, while Sberbank is state-owned and is responsible for processing government employee pay checks.

According to reports from Russian news outlet Kommersant, the two banks plan to enter crypto trading by seeking help from Group IB and AddCapital investment fund, which will be in charge of providing technical solutions for the project. Also aiding in the development is the National Settlement Depository (part of the Moscow Exchange Group), which will be the portfolio’s custodian. 

Anton Rakhmanov, manager of Alfa Bank’s private banking branch said that he hopes the move will ‘speed-up the recognition of the digital assets as legitimate financial assets as soon as possible.’

The portfolio will include the six most popular cryptocurrencies. As per CoinMarketCap, these are Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, and Litecoin. When operational, the portfolio will be altered at least four times in a given year when a trading algorithm will alter the combination of coins offered as necessary.

Alexey Prokofyev, CEO of AddCapital, provided further details:

“The investment process will see investors purchase a share of the fund as the shares are liquid and a client can send them for fiat currencies any time.”

Ana Ivanchuk, Deputy Chairman of Private Banking at Sberbank, was quoted as saying:

“We’d like to offer our clients an absolutely transparent way to invest in digital assets with a full compliance with regulations that will let them invest in the product they are interested in Russia.”

Russian Crypto Regulation

Late last week, also according to Kommersant, Russia’s head of the State Duma Financial Market Committee, Anatoly Aksakov, noted there would soon be some significant changes made to a set of draft laws intended to regulate cryptocurrency in the country.

“Three draft laws are currently being prepared for consideration in the State Duma: ‘On Digital Financial Assets’ (CFA), ‘On Crowd Funding’ (in terms of issue and circulation of tokens), as well as a package of amendments to the Civil Code of the Russian Federation,” Aksakov said.

The changes will mean that usual terms like ‘digital currency’ and ‘digital money’ will be replaced with the term ‘digital rights’ in any legal documents that deal with cryptocurrency regulations.

Additionally, Aksakov clarified that these “digital rights” will not be considered property, as they were previously defined by the Russian Ministry of Justice. It is also possible that “investment platform” and “token exchange operator” will be fused under a single term.

According to the report, the revised bills are expected to be adopted before the first of July. If the laws are adopted, Aksakov said Russia ‘will need to change something in the Tax Code to describe how digital rights will be taken into account for tax purposes.’


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Pay With Litecoin (LTC): This Time It’s Porn

Looking for something else to pay with Litecoin (LTC)? Well, now you can add porn to the list.

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VRPorn Accepts Litecoin

VRPorn, a site which proclaims to offer virtual reality porn (now, how would that work?), is reported to be accepting Litecoin (LTC) as a form of payment now.

Litecoin is accepted on the adult entertainment website through GoCoin, a cryptocurrency payment processor. Located on the premium subscriptions page, Litecoin is supposedly listed as a payment option along with Paypal and regular credit cards.

This is all ‘supposed’ and ‘reported’ because there has yet to be any official announcement by any of the affiliated parties. However, one intrepid Twitter user took the dive for the rest of us and screenshotted what appears to be confirmation of Litecoin on VRPorn.

https://twitter.com/gregzcrypto/status/1002218577540337665?ref_src=twsrc%5Etfw&ref_url=https%3A%2F%2Fcryptocurrencynews.com%2Fdaily-news%2Flitecoin-news%2Fpay-litecoin-ltc-time-porn%2F

Perhaps even more enticing is the cheeky little nod response from Charlie Lee himself.

So if you have some extra LTC kicking around, perhaps you can go pay with Litecoin over on VRPorn – whatever tickles your fancy, we won’t judge.

Litecoin (LTC) Price

Litecoin (LTC) is currently selling for $120.48, which puts the coin up 3.23% in the past 24 hours.

Source: CoinMarketCap

If this rise in Litecoin’s price is the porn deal working its magic, then its happy hour all around. Litecoin is on the road to returning to its price point of a week ago, which was $122.08 according to CoinMarketCap data.

Litecoin still has a ways to go before it recovers to its price point of a month ago, when LTC was selling for around $151.


Here at Dollar Destruction, we endeavor to bring to you the latest, most important news from around the globe. We scan the web looking for the most valuable content and dish it right up for you! The content of this article was provided by the source referenced. Dollar Destruction does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. As always, we encourage you to perform your own research!
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Is Now Good Time To Buy Litecoin (LTC), Cardano (ADA), VeChain (VEN), Ripple (XRP)?

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With current market bearish, one question many would-be investors want to be answered relates to whether it’s too late to buy Litecoin (LTC), Cardano (ADA), VeChain (VEN), Ripple (XRP).

The 2017 cryptocurrency boom left many early adopters and investors in coins like Bitcoin and Ethereum reaping enormous returns. Some were turned into instant millionaires, and investing in crypto has become one of the hottest investment opportunities out there.

With many altcoins predicted to wither into oblivion in the near future, buying means weighing up options against that possibility.

Litecoin (LTC)
Litecoin’s price movements have been quite disappointing over the years. It hasn’t rallied to hit exorbitant highs as some would have thought. LTC reached a high of $375 during the last crypto boom but is now trading at $118. Though the trajectory is similar to most other top coins, its slow upside moves disappoint.

However, it’s not too late to invest in this coin. Apart from the current downtrend being an opportunity to buy low, there’s another reason for buying it. Litecoin’s technology closely mirrors that of Bitcoin, but it has improved speed and has low fees. It’s, therefore, gaining a lot of attention as a possible alternative where BTC proves too slow or too expensive to use. It also is getting wiser acceptance as a micropayment currency- all pointing to a possible eventual global use.

LTC may drop to a low of below $100 but has the potential to recover to rally to its ATH if market sentiment improves.



Cardano (ADA)
One thing that makes it not too late to buy ADA is its low price that has plenty of room to grow. Just at $0.19, Cardano’s value is far away from its all-time high of $1.25. Although the coin has lost too much in terms of value, it’s expected that the platform’s steady growth will help the prices to rally once again.

The current tough run could, therefore, be taken as a good time to buy ADA. However, if one is expecting quick returns, then its best you check elsewhere, as the strategy here is to go long.

Why is going long appropriate? NO coin can boast having been developed from a peer-reviewed scientific approach. On top of that, the unique Ouroboros protocol and the versatile Daedalus wallet make Cardano one of the most secure coins in the market.
Then the most telling sign that Cardano isn’t done yet comes from its three-pronged approach to developing the ecosystem. IOHK, Cardano Foundation, and Emurgo will likely make the coin reach wide adoption faster than many other altcoins.

VeChain (VEN)
VeChain will launch its VeChain Thor mainnet slightly more than a month from now. By then, if you hold 1 VEN, you qualify for 100 VET. Nothing much will change in terms of value. For example, holding 1 VEN at the current price of $3.46 will get you 100 VET at $.0346.

Once market list VET tokens and trading begins, prices will adjust depending on prevailing market conditions.

Nevertheless, there’s one thing to watch out for: the possible explosion of use cases involving VeChain’s platform. Many enterprises are expected to utilize VET as more partnerships are formed. At the moment, the VeChain team has secured some of the most ambitious partnerships in the supply chain, logistics, insurance, agriculture, and IoT among many others.

The split into a dual token has a lot of incentives for users and could play a role in further adoption and use. The expectation is that demand for VET will lead to a significant price increase for VEN. The demand will be driven by the need to give enterprise users flexibility by maintaining high liquidity. It’s therefore not too late to buy VEN, especially if the team implements the recently released roadmap milestones.

Ripple (XRP)
Let’s understand that between 2015 and the market boom last year, the value of XRP rose +3,500% from $0.02 on January 2, 2015, to $3.84 on January 4, 2018. For anyone who had got in earlier than then no doubt reaped huge returns. It, however, has tanked to the current $0.62 against USD. Can its value rise again to close in on the all-time high figure?
Ripple (XRP) is a crypto much capable of getting to new highs at prices, with recent expansions making it very possible. The massive efforts of the team at Ripple Labs have resulted in some impressive partnerships. It is expected that these partnerships will play a big role in increasing XRP demand and thus its value. Banks and financial institutions remain XRP’s main hope of penetrating the cross-border payments sector, and there are some solid moves with the xRapid platform.

Fintechs and other MSBs could be the path to XRP’s price explosion. However, the crypto faces a lot of other pressures including regulatory uncertainty that affect sentiment. For XRP, reaching the $3.00 level is a bit tricky, unless the cloud clears. However, it’s possible to realize better prices than the current ones.

Conclusion: it’s expected that most of these coins will regain some portion of the lost value when the market turns bullish. However, it doesn’t guarantee long-term price gains. Thus, before you invest, consider the attendant risks and be open about your expectations.



Here at Dollar Destruction, we endeavour to bring to you the latest, most important news from around the globe. We scan the web looking for the most valuable content and dish it right up for you! The content of this article was provided by the source referenced. Dollar Destruction does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. As always, we encourage you to perform your own research!

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BIG 5 (BTC, ETH, XRP, LTC, BCH) Listed On LMAX Exchange: $10 Trillion In Fiat Traded to Date

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The Big 5 cryptocurrencies received a major boost on the 21st of May, when London based LMAX Exchange announced it will start offering on its exchange, the most liquid and established cryptocurrencies of Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC) and Bitcoin Cash (BCH). Crypto trading on the exchange is now a 24 hour operation, 7 days a week, all year long. Trading will be governed by similar rules and principles as LMAX Exchange’s FCA regulated MTF (Multilateral Trading Facility).

Of noteworthy mentioning is that the LMAX exchange has already handled over $10 Trillion in FIAT trading since inception and has institutional clients in over 100 countries. The institutional clients are what makes this announcement exciting for any crypto trader.

These are the so called ‘top dogs’ of trading: The big shot ‘Wall street’ firms and top banks around the globe.

The announcement by LMAX had this to say through their CEO, David Mercer, with respect to institutional investors:

“The rise of institutional trading of crypto currencies will be a game-changer for the industry. We believe our new exchange will support the transformation of the crypto market from the fringes to the mainstream. Digital currencies are, without a doubt, coming of age. Exchanges will play a crucial role in bringing the major crypto currencies into wider circulation, helping them to become accepted into conventional funds which in turn will help to support a normalisation of value.”

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The exchange has been improved to offer secure trading in this current crypto industry where hacks are possible. One cannot fail to mention the recent hack of the Verge (XVG) blockchain by rogue miners who wanted to mint XVG from thin air. Also to remember is the Coincheck hack that relieved of the exchanges some $500 Million worth of NEM (XEM) at one go. Therefore, security is of importance for the exchange.

The announcement by LMAX comes at a welcome time when the crypto-markets have been having a hard time maintaining good volumes. We have seen the total market capitalization touch $400 Billion only to drop to $330 Billion in a matter of a few days. The figure now stands at $338 Billion with many hoping that the news that South Korean regulators will ease their stance when it comes to crypto trading in the country, will boost the volumes once again.

We are all aware that the amount of trading and crypto ownership by South Korean residents was pretty high in early January before regulation kicked in and left the markets in chaos. This news could catalyse a return of previous good times in the crypto-verse.


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Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin, Stellar : Price Analysis, May 25

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Larger players always have an unfair advantage over the retail traders as they have the money and the resources to manipulate prices. Many crypto investors have been complaining against the manipulation in the markets, which hurts small investors.

If the U.S. Department of Justice (DoJ) can identify and nail the culprits, it will immensely benefit the cryptocurrencies in the long-term. Many other traders also agree that these crackdowns will have positive influence on the markets.

A study by Weiss Ratings showcases that if the US Federal Reserve dilutes the “Volcker Rule” – which restricts the banks from indulging in risky assets to earn profits – Americans are likely to turn to cryptocurrencies.

Considering the flow of positive news in cryptos, we have been bullish for a while but are waiting for the opportune time to buy. Due to the highly volatile nature of digital currencies, we want to identify our risk before buying.

Let’s see if we get some low-risk buy setups today?

BTC/USD

Bitcoin is sliding towards its lower target objective of $7,000. The attempt by the bulls to pull back on May 24 could not find buyers at higher levels, and prices have turned down once again. Currently, the digital currency is trying to hold the trendline support. If successful, a relief rally to $9,000 is probable.

If the trendline breaks, the next major support zone is between $6,075.04-$7,000, which will be strongly defended by the bulls. Due to the strong support just beneath the trendline, we are disregarding the formation of a symmetrical triangle.

Any sharp decline below $7,000 can offer the traders a good buying opportunity for the long-term. If purchased, the position should be protected with a stop below the February 06 lows of $6,075.04 because if this level breaks, we may see some panic selling.

Traders should avoid buying when the BTC/USD pair is plummeting. The purchase should be made when it shows signs of stabilizing in the 4-hourly chart.

We are suggesting a buy because we believe that the virtual currency will remain range bound between $6,075.04-$12,12172.43.

BTC

ETH/USD

Ethereum fell to the 61.8 percent Fibonacci retracement levels of the recent rally on May 24. The bulls attempted a rebound from this level, but it fizzled out at the 50-day SMA. If the bears break below the intraday low of May 24, a decline to $464 will be on the cards.

If the bulls hold the supports, the ETH/USD pair can rally to the neckline of the head and shoulders pattern, which also coincides with the resistance line of the descending channel.

Aggressive traders can attempt this trade, but the risk-averse traders should wait until a new buy setup forms.

XRP/USD

Ripple is taking support at the bottom of the range at $0.56. On May 24, it attempted to bounce off the supports but met with selling pressure at higher levels.

Currently, the XRP/USD pair is again retracing the previous day’s pullback. If the $0.56 level breaks down, a fall to $0.45 is likely.

If the support holds, aggressive traders can take a long position above $0.65 with a stop just below the recent lows. This is a very risky trade because the moving averages will offer a stiff resistance on any rally. Hence, the trade should be attempted only with about 30 percent of the usual position size.

A fall to the bottom of the range should be purchased when it shows signs of a rebound, hence, we believe that this trade can be attempted if the buy levels are reached.

XRPBCH/USD

Bitcoin Cash has completed a breakdown from a head and shoulders pattern that has a lower pattern target of $650. However, for the past two days, the bulls are trying to provide support at the $1,000 levels. If this level holds, the digital currency can pull back to the $1,200 levels, which is a major hurdle as both the moving averages are located close to this level.

If the BCH/USD pair breaks below $950, it should slide to $750, which is the next minor support. We suggest waiting for the decline to end and a new setup to form before initiating any long positions.

BCHLTC/USD

Litecoin has formed a bearish descending triangle pattern, which will complete on a breakdown and close (UTC) below $107. This level has not been breached since December 09 of last year. Therefore, we consider this to be strong support.

On May 24, the bulls tried to pull back from the immediate support of $115 but could not break above the overhead resistance of $127.

Below $115 the LTC/USD pair will slip to $107. The first sign of strength will be when prices sustain above $127. Until then, it is best to take no action.

XLM/USD

For the past few days, we have been watching a probable head and shoulders top in Stellar. However, after the previous two days of price action and realigning the trendlines, we find a falling wedge pattern developing. This is a bullish setup that will complete on a break out of the upper resistance line. As traders, we should be quick to identify any new setup and change our opinion according to the charts.

Considering the overall negativity, we suggest waiting for the price to break out and close (UTC) above the 20-day EMA before buying. The minimum price target is $0.44, which is close to the overhead resistance of $0.47766719. Traders should keep a close stop loss, preferably below the recent lows because if the break out fails to find buyers at higher levels, the digital currency can slump to $0.184 levels.

If the XLM/USD pair moves contrary to our expectation and breaks down, instead of breaking out, traders should not initiate long positions. They should remain on the sidelines until a new buy setup forms.

XLM


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Bitcoin, Ethereum, Bitcoin Cash, Ripple, Stellar, Litecoin, Cardano, IOTA, EOS: Price Analysis

Dan Morehead, CEO of cryptocurrency hedge fund Pantera Capital believes that the total cryptocurrency market capitalization can reach $40 trillion in about a decade. The current market cap is at $421 billion.
Morehead reiterated his bullish call on Bitcoin, calling it a ‘screaming buy’ at the current levels.

A similar opinion was voiced by John Pfeffer, a partner at UK-based Pfeffer Capital who recommended Bitcoin as a great investment opportunity at the Sohn investment conference in New York. According to him, Bitcoin could replace gold or become the new reserve currency of the world. This can result in its price skyrocketing to $700,000.
On the other end of the spectrum is the former head of Paypal, Bill Harris, who believes that Bitcoin is a fraud and should not be worth billions.

The bear market in cryptocurrencies has affected its trading volume. The average daily traded volumes have plunged from a high of $17 billion in December to a low of $7.4 billion in the first half of April.
This shows that the market participants have been hurt by the sharp decline in prices and many are yet to return to trading. Nevertheless, there is a hope that the entry of institutional players will make up for the loss in retail trading volume.

BTC/USD
After breaking below the trendline, Bitcoin found buying support at the 20-day EMA. If the bounce breaks out of the trendline, the bulls will make another attempt to rally to $10,000 levels. Our recommended long position is still live as the digital currency has not hit our stop loss at breakeven.

If the bears defend the trendline, the BTC/USD pair will turn down and probably break below the 20-day EMA. On any decline, the $8,000 levels will act as key support. If this breaks, a retest of the $6,800 levels is possible.
We shall get a better picture in a couple of days. Until then, hold the position with the stops at breakeven.

ETH/USD
Ethereum has held the trendline support. It is currently attempting to move up to the overhead resistance of $745.
If the bulls succeed in breaking out of the resistance, the ETH/USD pair should quickly rally to $900. If we get an opportunity, we might suggest a long position above $745.
However, if the recovery again falters close to the overhead resistance, the virtual currency can consolidate between $600-$745 for a few days. If the resolution happens to the upside, the recovery will continue, else we may see the digital currency decline to $500 levels once again.

BCH/USD
The traders are buying Bitcoin Cash close to the $1,200 mark. We currently don’t own any position in the cryptocurrency, as we have booked complete profits on all our position.

The BCH/USD pair will try to break out of $1,600 levels once again. If successful, the up move should extend to $1,800 and $2,000 levels.
If the bulls fail to scale above the overhead resistance, the cryptocurrency can become range bound between $1,200 and $1,600 for a few days.
We shall wait for a reliable buy setup to form before recommending any trade.

XRP/USD
Ripple broke below the trendline but held the 20-day EMA. It is again attempting to climb above the trendline and move towards $0.93777. If successful, the possibility of a breakout and rally to $1.08 levels increase.

The bears will offer a strong resistance at the trendline. If the XRP/USD pair fails to scale above the trendline, it will indicate a lack of buying support. Under these circumstances, the digital currency can break below the 20-day EMA and fall towards the 50-day SMA.
We don’t find a reliable buy setup on it, hence, are not recommending any long positions.


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XLM/USD

Stellar dipped back below the range on April 25 but found strong buying support at the 20-day EMA, which has again propelled it back above the overhead resistance of $0.4.

The next target on the upside is a move to $0.45 and above that to $0.47 levels. The XLM/USD pair is forming a rounding bottom pattern, which will complete on a break out above $0.48. This has a pattern target of $0.78 with minor resistance at $0.63 and $0.66.
If prices fail to breakout above the overhead resistance, we may get a small dip, forming a cup and handle formation.
As these are only possibilities, we shall wait for a clear picture to emerge before proposing any new trades.

LTC/USD
Our recommended position in Litecoin is currently in a loss. We had expected it to race higher on breaking out of $160, but after breaking out of the overhead resistance on April 24, it again slumped back.

The good thing is that the LTC/USD pair is finding buying support at the downtrend line and the moving averages are on the verge of a bullish crossover. The price is attempting to bounce off the strong support levels. If successful, a rally to $180 should be on the cards.
But if the cryptocurrency turns down and breaks below $141, it can slump to $120 levels once again. Therefore, we suggest retaining the stops at $140.

ADA/BTC
After failing to break out of the overhead resistance, Cardano pulled back to the 20-day EMA where it found support. Currently, the bulls are making another attempt to break out of 0.00003445 levels. If successful, we anticipate a rally to 0.000045 levels.

If the bears fail in their breakout attempt, the ADA/BTC pair can remain range bound between 0.000029-0.00003445 for a few days. If the range breaks down, the digital currency can slide to the 50-day SMA.
We shall wait for the breakout to sustain above the range before recommending any fresh long positions. We’ll get a clearer picture in a couple of days.

IOTA/USD
IOTA has more than doubled from the lows of $0.9150 made on April 06. This has propelled it among the top 9 currencies by market capitalization; and that’s why it has made an entry into our analysis once again.

After an extended downtrend, the IOTA/USD pair has entered a base building formation. It currently trades in a large range of $0.9150-$2.2117.
For the past few days, the bulls have been attempting to break out of the range. If successful, we might see the start of a new uptrend.
However, there is a slew of resistances at $2.62 and $3.145 from where the digital currency can turn down. We suggest waiting for a couple of days after the breakout before initiating any fresh positions.
If the breakout fails, the digital currency can fall to the 20-day EMA and below that to the 50-day SMA.

EOS/USD
EOS has extended its up move. It has broken out of the overhead resistance at $16 and is nearing the lifetime highs of $18.67 reached on January 13 of this year. We currently don’t have any positions open, as we have booked complete profits and closed our trade.

The trend is clearly up. Both moving averages have turned up, and the RSI is in the overbought territory, which shows strong demand for the EOS/USD pair.
Still, we expect the bears to offer a strong resistance again at the lifetime highs of $18.67. We need to wait for consolidation or a retrace to the $16 levels before suggesting any fresh long positions.
On the downside, the support line of the ascending channel should act as a strong support.


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Litecoin (LTC) blazing the way to crypto adoption, as it’s added to Market Watch!

There is no doubt that the crypto market has gone mainstream, and Litecoin (LTC) is blazing the way. A few days ago, Litecoin proved that it is possible to send money at unimaginably low fees and in matter of seconds. $99 million was sent using Litecoin at a cost of $0.40 and in under 150 seconds. That’s an indicator that cryptos are taking over the financial services industry, and could easily make banks obsolete. However, the true hallmark of crypto adoption will be when the older generations start interacting with them, both as investments and as currencies. And today, that journey seems to have kicked off.
A few hours ago, Market Watch announced that they will be adding Litecoin and several other cryptos to their data feed. The big deal is that Market watch is mostly used by the older generations, people who are looking to keep track of stock market prices. You can easily tell this by the kind of comments that Market Watch received after they made this announcement.


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Potential of mass adoption – ✅


The comments are from clearly people who seem to have some understanding of finance, but are yet to understand crypto. Take these two comments made after the announcement as an example,
“We don’t want these quotes. We want to know where markets for REAL things are trading.”

Another one read,
“Cryptocurrencies are the Junk Bonds of the 2000’s only TEN TIMES WORSE! You’d be safer buying futures in the North Korean won currency. Cryptocurrencies are nothing but Ponzi Schemes. Look up the word Crypto. It means “Secret, Hidden, unknown”…. How appropriate.”
Clearly these are comments from older people who have an understanding of finance, but are yet to grasp the whole concept of cryptocurrencies. The good news is that now that it is out there, they will begin to understand it, and Litecoin (LTC) will be one of the biggest beneficiaries. That’s because it has the utility that they need.

For instance, everyday people need to send money via banks, a very expensive and slow process. How do you think they will react once they learn that they can achieve the same end, at a fraction of the time, and for pennies? They will most likely adopt it, and that’s how Litecoin and crypto in general will grow.
The case for large-scale adoption by the older and wealthier generation is also validated by the announcement by NASDAQ that they could become a crypto exchange in the future once regulations come in place. NASDAQ is another financial services platform that is well known to mom-and-pop as a bridge to investing in the stock markets. Once it starts dealing in crypto, you can expect such people to start taking an interest in this market, and that will be the beginning of the next phase of growth.

One thing is clear though, crypto is entering an interesting phase in its growth, and Litecoin (LTC) is a front-runner. If such positive vibes continue from mainstream finance and Litecoin continues to prove itself as a viable payments method, $1000 valuation would be in the offing sooner than you can imagine.


Here at Dollar Destruction, we endeavour to bring to you the latest, most important news from around the globe. We scan the web looking for the most valuable content and dish it right up for you! The content of this article was provided by the source referenced. Dollar Destruction does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. As always, we encourage you to perform your own research!

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Author: Floyd Cook
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Litecoin (LTC) Sees Bullish Sentiment, Can it Rise to $1,000?

LTC prices are rock-steady, but talks of a breakout have been heard more often recently.

Litecoin (LTC) is seeing rather bullish attitudes on social media, despite the rather gradual and modest gains. Just as some altcoins are starting to make more dramatic moves, Bitcoin Cash (BCH) managed to almost double in price within 10 days, LTC is seeing predictions of a four-digit price by the end of the year, possibly within the context of a May-June rally.

Until recently, LTC hovered close to $150, with no breakout in sight. The price has also been relatively flat against BTC, despite the rise in dollar-denominated prices. Volumes are steady and predictable, but not setting records or even short-term peaks. However, Litecoin remains popular, and may take the spotlight at any moment.

At that time, LTC has shown that it can create hype and invite buyers who jump onto the trend, causing sudden and explosive growth. Even though most predictions for LTC are speculations, any spike in price may be amplified by the effect of panic buying.

For LTC, the most active pairs are against USDT, which means direct speculation, somewhat independent of the price of Bitcoin. While LTC also has fiat on-ramps through Kraken, as well as other exchanges, the extra liquidity of USDT tokens may cause an easier inflow of funds.


ICO of the week:
vanywhere.com
Working product – ✅
Major player involved – ✅
Experienced team – ✅
Active community and social channels – ✅
Potential of mass adoption – ✅


The Litecoin Foundation, as well as Charlie Lee, have shown they are not going to attempt manipulating the LTC price, or cause panic buying. The popularization comes through seeking spending possibilities for LTC. The relatively stable price is ideal for that reason, but some investors are getting tired of the sideways drift.

Additionally, the Litecoin hashrate has almost tripled in the first quarter of 2018, signifying that “miners follow the money”. The addition of new mining hardware is making the LTC network more secure. Unfortunately, Litecoin transactions have also been flat, related to the price stagnation. At the same time, Bitcoin (BTC) and Ethereum (ETH) transactions have picked up. Litecoin actively competes with Bitcoin Cash, and for now, the LTC network is handling more transactions compared to the BCH network.

 


Here at Dollar Destruction, we endeavour to bring to you the latest, most important news from around the globe. We scan the web looking for the most valuable content and dish it right up for you! The content of this article was provided by the source referenced. Dollar Destruction does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. As always, we encourage you to perform your own research!

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Author: Christine Masters
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Litecoin’s Value Increase Complemented With Listing on Korean Oldest Exchange

Litecoin is only not adding value in the market, but also cruising around the world of cryptocurrecny with great and new developments as additions. Yesterday, in a tweet issued by the altcoin’s owner, Charlie Lee, it was aired that Litecoin’s developments have added another feather to its cap as the altcoin seems to get support from Korbit, one of Korea’s oldest exchange platform.

“Tomorrow, @KorbitBTC will launch LTC trading. It’s awesome that one of the oldest Korean exchanges will now support Litecoin. I still remember asking Korbit many years ago”.

“I have donated 100 LTC for a promotion. See blog post for more details”.

The news went viral and enthusiast rejoiced with the believe that the cryptocurrency is moving for a greater height with the recent maturation in its value.

Within the space of 24hrs, Lee announced on his twitter handles that Korbit has recognized Litcoin by listing it on its platform for exchange.

“Korbit is now trading Litecoin”!

“The last remaining major exchange not supporting LTC yet is @GeminiDotCom. What are you waiting for”?

Korbit Exchange!
Korbit, tagged the most popular and largest crypto-exchange platform in South Korea, is the first Bitcoins exchange platform, it was founded after raising $3.6 million from high profile investors.
Before now, the major currencies for exchange on the platform are Bitcoin, Ethereum, and Ripple. Korbit operates with a low trading fees of 0.1% for maker trades and 0.2% for taker.

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Litecoin’s Price Maturation
Just about a week ago , Litecoin plunged to the base, trading around $125. Surely at that time, the market seems bearish for all altcoins and the prayer of enthusiasts was definitely for a bulling market that will favor them. Not long, the market began to move northward and Litecoin was not left behind. 

Within the space of 24hrs, Litecoin’s value rose, trading for 138 against dollar. Although the altcoin’s price dipped within the next 5hrs, but it later picked up the batten of rising price and began climbing towards the north gradually. On April 20, Litecoin rose up to $154, a price which it attained only about a month ago.

Although, at present, Litecoin, ranked 6th with a total market cap of over 8 billion has lost 0.74% of its value within 24hrs, trading at $148, but when compared to its price 7days back, it has added 18.09% to its value.

Conclusively, as the old tale of Litecoin appears to be taking a new and favourable shape, the altcoin may soon rise to the zenith.


Here at Dollar Destruction, we endeavour to bring to you the latest, most important news from around the globe. We scan the web looking for the most valuable content and dish it right up for you! The content of this article was provided by the source referenced. Dollar Destruction does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. As always, we encourage you to perform your own research!

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Author;

Yusoff supoto 

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