Binance to pump another ‘Ethereum Killer’ in latest IEO
Initial Exchange Offerings (IEOs) have largely replaced Initial Coin Offerings (ICOs) as a way to launch a new token or blockchain project.
The world’s largest crypto exchange, Binance, announced its latest and greatest update earlier this week, which is a new crypto token called CTSI, or Cartesi.
The latest Launchpad offering will promote a token in a lottery-style sale for customers holding its own Binance Coin (BNB).
According to the blurb, Cartesi is building an operating system for dApps, which is pretty much what Ethereum already does.
It added that the project “enables complex and intensive computations run in a Linux environment, outside the blockchain, without compromising decentralization.”
On the surface, it seems that Binance is still trying its hardest to usurp Ethereum, which is the current industry-standard for dApps and smart contracts.
Last year, the exchange plugged its own Binance Chain, offering incentives to blockchain companies that switched to it.
Binance has also been heavily involved with Tron and BitTorrent Token, which are also angling to knock Ethereum off its digital perch.
The world’s domineering exchange clearly wants to become the Google of crypto, and Ethereum is still its primary adversary.
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Ethereum has Majorly Out-Shined Bitcoin in April, But for How Long?
April has been relatively favorable to the digital asset industry as the collective cryptos have begun to illustrate a little bit of growth in the charts.
The panic sell-off from 12th-13th March marked the lowest point for the virtual currencies in 2020 but over the past week, major assets have undergone recovery.
According to Coinmetric’s recent State of the Network, Ethereum, the largest altcoin in the industry indicated surges in certain fundamental metrics over the past week. It was observed that the active addresses in ETH blockchain increased by 15 percent from 5th April to 12th April, clocking in total addresses of 742.6k.
The number of transactions and the transfers also incurred minor hikes of 0.6% and 0.7%, up to 276.2k and 665.7k respectively. The total market cap indicated a steady rise for Ethereum as well.
However, after Bitcoin Cash underwent its first halving on 8th April, its hash rate collapsed by 30.1 percent and the mean difficulty of the network plummeted by 22.9 percent as well. However, the report added,
“The BCH halving also led to a significant spike in activity, with active addresses and transfers growing 39.3% and 60.6%, respectively.”
On analyzing the report further, it was revealed that the CMBI and Bletchley Index for cryptos were incurring a positive scenario a third straight week.
With accolades laid in front of it already, Ethereum’s CMBI index outperformed Bitcoin in terms of returns as well. The CMBI ETH index was the strongest performer in the week returns of over 14.5 percent whereas Bitcoin could only muster around 4.9 percent in the charts.
On further analyzing the above chart, it can be identified that mid-cap assets were the best performing asset market group in the past 7 days as the Bletchley Index 20 indicated a 12.4 percent hike. The B20 index was also the sole market-weighted index to outperform Bitcoin in the charts.
Since the start of April, the collective crypto market hasn’t been subjected to major price volatility. A sustained period of stability over the past 2 weeks has allowed Ethereum to recover as well. After the crash on 13th March, Ethereum became strongly correlated with Bitcoin and BTC continued to dictate its valuation in the charts.
However, with the entire market entering a consolidation phase, Ethereum seems to have slowly sidelined itself from Bitcoin, and currently outperforming the king-coin, as illustrated in the above data.
According to skew analysis, the realized volatility of Ethereum has also decreased when compared with Bitcoin’s volatility in the charts, which suggested that the decoupling between Bitcoin and Ethereum is already set in motion.
Hence, it would be interesting to follow Ethereum’s performance over the next few weeks and witness whether it would have a positive reaction or negative repercussions when Bitcoin undergoes its third halving and facilitates fundamental changes in its own chart.
Author: Utkarsh Gupta
Etherscan’s New Tool Lets Users Identify Tainted Ether Addresses
- Ethereum users can now identify if the funds they have received are associated with malicious actors.
- This is beneficial in helping new users stay away from known fraudsters and keeping them informed.
- However, this move also threatens the fungibility of ETH and could lead to many problems.
Ethereum blockchain explorer Etherscan has launched a new tool, named “ETH Protect.” The tool marks addresses with tainted funds and allows users to identify if any funds they have received are associated with hacks, scams, or tainted Ether addresses.
This is both a boon and a bane for the Ethereum network.
Malicious activity in crypto has seen an uptick, resulting in a need for features that track the addresses of hackers and scam artists to ensure they don’t profit.
EtherScan’s latest feature gives users the ability to track incoming funds and their history to ensure the outputs are clean.
If an address has been marked as tainted, and the owner of said address believes they were wrongly marked as such, they can contact EtherScan to resolve the issue.
The company clarified that there is also an in-built circuit breaker for privacy-enhancing mixers. When used in conjunction with ETH Protect, addresses will not be flagged as tainted.
Blockchain sleuths like Chainalysis already have a large database of addresses operated by the perpetrators of major exploits. However, they go a step further in tracking down addresses associated with the darknet for law enforcement authorities.
This feature, while beneficial for avoiding contact with malevolent entities, also threatens the fungibility of ETH.
Fungibility is an economics term which states that one unit of account of a commodity is interchangeable with any other unit of account of the same commodity. It indicates that one American dollar equals one American dollar no matter what that dollar has ever been used for.
But if there is one set of “clean ETH” and another set of “tainted ETH,” the promise of token fungibility is severely eroded. Bitcoin faced a similar problem when Chainalysis started to track down tainted funds and exchanges blacklisted them.
While this is a necessary evil, it creates a plethora of other problems.
Nobody wants to end up on a public blacklist for having funds associated with an exchange hack or a major Ponzi scheme like PlusToken.
Unlike the banking system, these tainted funds cannot be blocked entirely – they can only be identified. If a PlusToken address sent a negligible amount of Ether to 100,000 different addresses, all of those addresses would potentially be marked as tainted.
EtherScan’s resolution process is handled by security analysts and not an automated interface. As a result, it can take weeks, maybe months, for them to clear all these unknowing addresses of any wrongdoing if such a situation were to occur.
I think this is reasonable. People who aren’t experts need epistemic aids to warn about scams; we don’t want an unmediated information environment, we want a *competitively mediated* information environment.
— vitalik.eth (@VitalikButerin) April 14, 2020
However, among the supporters of this feature is Ethereum co-founder Vitalik Buterin, who believes that it is necessary to keep new users safe from scam artists.
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Author: by Ashwath Balakrishnan
Ethereum Code Review 2020 – Scam or Legit? LIVE RESULTS of the $250 Test
The creator of the Ethereum Code is Mark Weston who is also its current CEO. Before creating this application, Weston was working at a multinational software corporation. After he heard about how one of his colleagues made thousands of dollars by being an early Bitcoin investor, he also thought about investing in the cryptocurrency market. But he couldn’t invest in Bitcoin as he missed its ‘early boat’. So he decided to try his luck into automated cryptocurrency trading. However, he did not achieve any success with the automated platforms he tried trading on. As a result, he thought about creating his own automated platform for trading cryptocurrency and that’s how the Ethereum Code came into existence.
What is Ethereum Code?
Being a crypto robot application, the Ethereum Code uses algorithmic trading technology for taking advantage of the cryptocurrency market’s volatile nature. Ethereum Code uses its bot for helping its users to generate profits automatically. After you sign-up on Ethereum Code, you don’t need to think and deploy your strategies, technical analysis, and indicators. Ethereum Code works like the majority of the crypto robot solutions. You just have to monitor the bot’s performance after you set it up.
Open Your Ethereum Code Account Now
How Ethereum Code Works
According to the official website of the Ethereum Code, the application uses cloud technology for operating daily each hour, the whole year long. You don’t have to download this application in order to use it. The team of the Ethereum Code also states that the platform is super fast as it uses excellent algorithms for scanning the markets several times in every 60 seconds. Due to such scans, the platform is able to search for opportunities to trade cryptocurrency.
The team of Ethereum Code also claims on the platform’s official website that if the users generate any profits through the crypto robots, those profits will be completely tax-free. But we suggest you to not take this statement of the team very seriously as the governments of each nation tax both investors and traders. Thus, there’s a good possibility that you will have to pay taxes after generating profits through Ethereum Code. You can consult with an accountant to know more about how the government will tax you for using cryptocurrency trading platforms that are automated.
Even if the team of the Ethereum Code application seems legit, you should take their claims with a grain of salt. Don’t consider their promises too seriously or as a guarantee. The team of the Ethereum Code claims that you will be able to generate more than $3,000 of profits per day with the help of this application. But if that’s really the case, you will become a millionaire in a year, which is a mere exaggeration as the market changes every minute and it won’t be possible for every trader to generate such profits in a single day. We are denying that it ain’t possible to make a profit of $3,000 in a single day while trading in a Bull Market. But you won’t generate such massive profits every other day in a cryptocurrency market. After all, the cryptocurrency market is also subjected to crashes, right?
Visit the official Ethereum Code Website
Benefits of using the Ethereum Code
The following are the benefits of using the Ethereum Code:
The algorithms by the team of Ethereum Code are fast enough to scan the cryptocurrency market thousands of times per minute for finding trading opportunities.
With the bots of Ethereum Code working for you, you don’t have to think about any strategies to generate profits in the cryptocurrency market.
As the bot system of the Ethereum Code runs in the cloud daily every hour throughout the year, there is no requirement of downloading the application.
The Ethereum Code claims that you don’t have to pay any tax on the profits which you generate daily through this application.
Earn thousands of dollars by registering with Ethereum Code
Open Your Ethereum Code Account Now
How many profits can I generate with Ethereum Code?
– No one can speculate how much profits you can generate with an automated crypto trading platform. Bots perform on the basis of the current market conditions.
Can the Ethereum Code accurately predict Ethereum’s price?
– No, Ethereum Code cannot accurately predict Ethereum’s real-time price. Crypto robots are incapable of accurately predicting Ethereum’s price. Not only crypto robots, even all-star investors and expert traders cannot predict the price of Ethereum in the short term.
How to withdraw the money earned through the Ethereum Code?
Can I use the Ethereum Code on my smartphone?
– Yes, you can use the Ethereum Code app on your smartphone.
Visit the official Ethereum Code Website
The Final Verdict
There are many automated digital currency trading platforms that are run by scammers and so, they aren’t profitable at all. Such platforms have low-performance bots which won’t help you in finding opportunities for trading cryptocurrencies. The Ethereum Code platform seems to be legit. The crypto robots of the Ethereum Code will work flawlessly for you to help you in trading cryptocurrencies. As of now, this application is in its beta stage and you can access it for free. We recommend depositing up to only $250 if you wish to test the bots of this application.
Some automated cryptocurrency trading services may require you to develop strategies or settings for their bots and this can be time-consuming for you. But you don’t need to develop strategies and settings to activate the bots of the Ethereum Code. The bots will do the trading tasks for you and you just have to monitor their performance. You just have to click the live button while using the Ethereum Code. The team of this platform has already activated its own settings for all the users. Those settings worked for the team before and there is a good chance that they will work in the upcoming times too.
Ethereum coin has generated wealth for numerous people who invested in it early or invested in it at the right time. There are also many claims that few traders made massive profits via daily trading of cryptocurrencies alone. But keep in mind that every investment opportunity carries some risk and this fact also applies to cryptocurrencies.
Earn thousands of dollars by registering with Ethereum Code
Ethereum Market Update: ETH/USD where to next after conquering $160 resistance?
Ethereum bulls are feeling energetic on Wednesday as the Asian session paves the way for the European session. For a couple of days, the price struggled with the resistance at $160 after the rejection from highs around $176 found support at $150.
Following a 1.16% growth on the day, Ether is teetering at $160.39. The cryptoasset has also adjusted upwards above the trendline resistance and now seats comfortably above the moving averages. In the 4-hour range, the 100 SMA is holding the ground at $157.38 while the 50 SMA will provide support but currently lies at $156.
The RSI, in the same range, is above the average after the momentum stalled at 60. The trend is likely to remain sideways between 50 and 60. This way, ETH/USD could embrace consolidation as buyers gather the strength to push for gains above $170. The MACD’s horizontal movement within the positive region puts emphasis on a possible sideways action with a bullish bias.
Resistance one: $163.09
Resistance two: $178.12
Support one: $159.74
Support two: $153.06