Bitcoin is Breaking $29,000 RIGHT NOW! MAJOR Bitcoin, Ethereum, & Cryptocurrency News Today! 🎉

Bitcoin is Breaking $29,000 RIGHT NOW! MAJOR Bitcoin, Ethereum, & Cryptocurrency News Today! 🎉

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Source: sgbitcoin.com


Whereas Bitcoin Extends Rally, Altcoins Take Again Seat

Whereas Bitcoin Extends Rally, Altcoins Take Again Seat

After settling above USD 28,500, bitcoin value began a recent improve. BTC broke the USD 29,000 stage and traded to a brand new all-time excessive near USD 29,300. It’s at the moment (05:00 UTC) consolidating features and it looks as if the bulls would possibly goal for a take a look at of USD 30,000 within the close to time period.
Apart from, most main altcoins are caught in a variety, together with ethereum, EOS, XLM, LINK, BNB, XRP, TRX, bitcoin money, DOT, litecoin, and ADA. ETH/USD remains to be struggling to realize bullish momentum above USD 745 and USD 750. XRP/USD is displaying restoration indicators and it appears to be forming a assist base above USD 0.200.

Complete market capitalization

There was a recent improve in bitcoin value above the USD 28,500 and USD 28,800 resistance ranges. BTC even climbed above the USD 29,000 stage and traded to a brand new all-time excessive close to USD 29,300. Not too long ago, there was a pullback beneath USD 29,000, however the value remained nicely supported. An preliminary assist is close to the USD 28,800 stage.
The primary assist may be forming close to the USD 28,250 stage. On the upside, the worth is going through hurdles close to USD 29,300, above which it may grind greater in direction of the USD 30,000 stage.

Ethereum value remained nicely supported above the USD 720 stage. It looks as if ETH is caught in an important vary, with a serious resistance close to USD 745 and USD 750. If there’s a clear break above the USD 750 stage, the worth would possibly speed up greater in direction of the USD 788 and USD 800 ranges.
An preliminary assist on the draw back is seen close to the USD 732 stage. The important thing assist and a variety decrease finish is close to the USD 720 stage, beneath which the worth would possibly revisit USD 700.

Bitcoin money value is consolidating above the USD 350 stage. On the upside, BCH may battle to realize momentum above USD 360 and USD 365. If it succeeds, there could possibly be a pointy improve in direction of the USD 380 and USD 388 ranges. The subsequent main resistance on the upside awaits close to the USD 400 stage.
Litecoin (LTC) is down over 2% and it’s now buying and selling beneath the USD 130 assist. The subsequent main assist is close to the USD 120 stage. If there’s a shut beneath the USD 120 stage, there are probabilities of a pointy decline in direction of the USD 105 and USD 102 ranges. To begin a recent improve, the worth should clear the USD 130 stage.
XRP value is up round 5% and it’s buying and selling nicely above the USD 0.200 stage. It looks as if a assist base is forming close to USD 0.200, beneath which it may resume its decline. On the upside, the worth should clear USD 0.232 and USD 0.250 for a recent improve within the coming periods.

Previously few hours, a number of altcoins declined over 5%, together with WAVES, XLM, ICX, SNX, NEXO, SC, OMG, DASH, XTZ, REP, KNC, and ATOM. Out of those, WAVES is down 8% and it broke the USD 6.45 assist.

Total, bitcoin value is buying and selling above USD 28,300 and USD 28,500. It looks as if BTC would possibly proceed greater in direction of USD 29,500 and USD 30,000 within the close to time period.
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Source: bitcoinflashnews.com

Author: By admin


These 2020 blockchain tech developments have set the stage for 2021

These 2020 blockchain tech developments have set the stage for 2021

January will mark 12 years since the Bitcoin genesis block. In that time, blockchain technology has made many significant strides forward. The launch of Ethereum in 2015 introduced smart contracts and token minting. Subsequent years saw developments in areas, such as transaction privacy with the launch of Zcash (ZEC), platforms such as EOS and Tezos attempting to compete with Ethereum on scalability, and dozens of use cases being explored.

In particular, 2018 and 2019 were difficult years. Following Bitcoin’s fall from its all-time high in December 2017, it’s fair to say that the general appetite for blockchain and cryptocurrencies waned significantly during the long crypto winter. However, there was still plenty of innovation happening, which has started to become evident and pay off in 2020.

This year, several key themes have emerged that are poised to shape the blockchain landscape for 2021 and beyond. Here, Cointelegraph tracks 2020’s most significant developments in blockchain.

Scalability, interoperability and privacy have been core themes in infrastructure development during 2020. Of course, scalability has already become an age-old topic in blockchain conversations. However, in previous years, the focus was on new platforms claiming to be more scalable than Ethereum. In 2020, the scalability focus shifted to Ethereum itself — in part because the first phase of the Ethereum 2.0 upgrade finally launched at the end of the year, but also because 2020 saw several critical milestones for Ethereum’s second-layer platforms.

With the Eth2 project still at least two years away from full implementation, it seems likely that second-layer platforms are set to thrive well into 2021.

Several platforms have put interoperability at the front of their development efforts this year. Early in 2020, Syscoin and RSK were two of the first platforms to launch a bridge allowing developers to send tokens back and forth to the Ethereum blockchain. Others were quick to follow suit, with Solana, NEAR Protocol, and Ontology also launching their own interoperability solutions using bridge technologies.

In other interoperability news, Polkadot launched its mainnet in May after several years in development. Much like how Eth2 is aiming to be, Polkadot is a sharded network that enables high throughput. However, the project places particular emphasis on its “heterogeneous sharding” mechanism for interoperability.

Whereas Eth2 will only allow its own shards to connect to the central beacon chain, Polkadot’s heterogeneous sharding supports any kind of blockchain, allowing other platforms such as Bitcoin or Ethereum to connect using bridges. Polkadot is already making its mark, sitting comfortably in the top-10 ranked cryptocurrencies and attracting significant interest from the DeFi developer community.

What future awaits cryptocurrencies?
GOODBAD

At the infrastructural level, interoperability has been perhaps the most significant focus area across the board in 2020. Therefore, we can surely expect to see more applications taking advantage of this technology in 2021 and beyond.

The ability to transact in private via blockchains received a boost this year, with the launch of two privacy-protecting mechanisms. In January, Monero announced Triptych, a new ring signatures construction that offers a greater degree of privacy protection by making it more difficult to detect genuine transactions among decoys. Triptych went live in September.

Elsewhere, Aztec Protocol, a layer-two, privacy-preserving network for Ethereum, launched its mainnet in February. In its first iteration, Aztec was using Zcash technology to enable “confidential tokens” that hide transaction values. However, in October, Aztec launched its 2.0 version, which uses zero-knowledge rollups in private smart contracts that also boost Ethereum’s scalability.

The Electric Coin Company, the operator of Zcash, announced in September that it was working with the Ethereum Foundation to develop the open-source “Halo 2.” It uses a variation of advanced zero-knowledge proofs used by Aztec. The shared research among Ethereum, Aztec and Zcash is proving to accelerate developments in blockchain privacy for the benefit of users across all platforms.

Poor user experience has long plagued the cryptocurrency and blockchain industry. There were finally some signs in 2020 that showed promise for the benefit of crypto newcomers in retail and institutions.

The most significant development in UX for retail crypto newcomers was undoubtedly the news that PayPal is integrating cryptocurrency. The payments giant opened its crypto buy-and-sell services to U.S. users in November. The next big development will be a merchant integration in early 2021, allowing users to spend their crypto holdings on goods and services, with 26 million merchants on the PayPal network. PayPal says it will handle all the fiat conversions on behalf of the customers, meaning merchants can avoid cryptocurrency’s volatility if they wish.

However, because poor UX has been an ongoing issue for blockchain-based applications and crypto wallets for many years now, the good news is that we’re seeing developments among more decentralized solutions, too. Argent, a new type of wallet that reached significant popularity in 2020, uses smart contracts to enable non-custodial wallets without requiring private keys. In addition to its security features, the wallet also features direct integrations with decentralized finance, including an integration with flagship DeFi yield app Yearn.finance.

Another example is Authereum, a wallet that builds on the first layer of non-custodial wallets such as MetaMask. Authereum offers all the security benefits of a decentralized wallet while providing users with an easy and familiar onboarding experience, using a simple username and password access, backed up by apps such as Google Authenticator. It also eliminates gas payments.

Expect to see further developments in UX in 2021 as developers seek to remove barriers to entry for new users in the face of competition from giants such as PayPal.

DeFi was the undisputed leader of the application pack in 2020, achieving meteoric growth from $675 million to over $15 billion in total value locked.

The growth was fueled by several developments. Early in the year, several platforms, such as Aave and Uniswap, joined dYdX in offering flash loans, enabling limitless uncollateralized lending in DeFi for the first time. A user can borrow funds, stake them in other protocols to earn a profit, and repay the loan, all in a single Ethereum transaction. If they fail to repay, the entire transaction becomes null and void. Despite several high-profile attacks, flash loans have remained extremely popular among arbitrageurs seeking to make a profit from variations in price among decentralized exchanges.

The launch of Uniswap V2 was also a landmark event, with improvements to its oracle functionality, the introduction of flash swaps, and subsequently, an $11-million investment from Andreessen Horowitz. By August, volumes on Uniswap had exceeded those on Coinbase Pro.

While Uniswap’s automated market makers, or AMMs, have been around several years now, 2020 also saw a slew of newer entrants, including Balancer and Curve Finance. Both launched with the aim of iterating on the AMM concept. For instance, Curve offers multi-token stable pools, while Balancer further iterated on the concept by allowing custom token ratios — as opposed to Uniswap’s rigid 50-50 liquidity pools. Others, such as 1inch and Bancor, made strides in dealing with issues like impermanent loss, the phenomenon where liquidity providers make fewer gains than a comparable portfolio.

The true driver of DeFi’s value in 2020 emerged from the fact that, combined, DeFi decentralized applications are greater than the sum of their individual parts. DeFi applications developed on Ethereum are composable, meaning that users are finding new ways to stack up these “money Legos” to offer new possibilities. Even on the simplest level, users can stake their ETH into Maker to take out a loan in Dai, which can earn them interest by lending on Compound. However, if users have the appetite for riskier strategies, such as margin trading, the possible configurations are endless.

DeFi developer Andre Cronje was one of the first to identify the need to make this feature more accessible, so he created Yearn.finance as the “gateway to DeFi.” Thanks to his efforts, Yearn has proven to be one of the most popular DeFi projects this year due to its features, which make DeFi’s composability both automated and accessible.

Decentralized governance also emerged as a key trend in 2020, after Compound unleashed its COMP token on the market in June. It immediately flew to the top of DeFi rankings.

While governance tokens are seeing a fair bit of speculation, it seems likely that decentralized governance will continue to rise in prominence over the next year. Nonetheless, some technological and economical issues need to be resolved in 2021, including the concentration of wealth, scalability and the proper way to implement governance proposals.

Digital identity has long been identified as a strong potential use case for blockchain to rein in some of the excesses of personal data usage today. It is also becoming an ever more pressing issue for validating blockchain use cases. As member of Congress Bill Foster pointed out in October, cryptographic guarantees are worthless in the real world if the person behind them is a fraud.

Digital identity is already taking center stage as a test use case in the EU-sponsored European Blockchain Services Infrastructure. In Japan, Layer X is working on a blockchain-based voting system underpinned by digital identities.

This year, enterprise-focused Concordium burst onto the market, promising a platform that manages the trade-off between transaction privacy and the need for an identity solution. It uses off-chain identity verification combined with on-chain zero-knowledge proofs and an “anonymity revocation” process. The latter kicks in whenever there’s a legitimate legal order to identify a party to a transaction.

Other digital identity projects are also making significant headway. Oasis Labs announced in December that it was collaborating with BMW on a project focused on the privacy of user data. It allows internal and external parties to query user data without compromising privacy.

Decentralized identity platform Ontology has also focused on the motoring use case. In September, the team at Ontology showcased how its “ONT-ID” could be used to access vehicles and securely record driver data. However, Ontology’s ID also has applications in other areas, including a partnership with Waves on an e-voting solution.

With seeds sown in 2019, this year saw the popularity of CBDCs among central bankers worldwide explode perhaps in response to the 2019 events surrounding Facebook’s controversial plans for a proposed stablecoin initially called Libra but that has since been rebranded to Diem.

China has been trailblazing, although it’s still far from a blockchain-based solution. The People’s Bank of China launched a pilot version of the digital yuan in April and, by November, had processed over 4 million transactions totaling close to $300 million.

Despite European Central Bank head Christina Lagarde stating that the European Union won’t be “racing to be first” to issue a digital euro, the bloc seems likely to move ahead with its own CBDC following the outcome of a consultation in January 2021. However, based on an ECB executive’s comments, it could be a very long implementation period. Elsewhere, Sweden, the United Kingdom, Canada and Switzerland have all recently issued powerful indicators that they will move toward their own version of a central bank digital currency over the coming months and years.

The global COVID-19 pandemic has cast a dark shadow over 2020. The emergence of several vaccines toward the end of the year has offered a glimmer of hope that “the new normal” may not be as permanent as it first seemed. However, blockchain technology seems set to play a role in managing the ongoing fight against COVID-19 and any other global pandemic that may arise in the near or distant future.

For instance, the aforementioned digital identity solutions could extend to “health passports” that convey a citizen’s immunity status, allowing a faster transition back to the pre-pandemic society. Privacy campaigners have understandably expressed concerns, but countries such as China and Singapore are already using blockchain technology to help generate verifiable health records.

The World Economic Forum has pointed to the effectiveness of using a blockchain in the global supply chain to distribute COVID-19 vaccines. IBM is also lending a helping hand and has expressed a similar viewpoint.

This year has seen a resurgence in blockchain development, along with the general appetite for cryptocurrencies and the advantages that the technology can bring. Whereas the last big boom of 2017 resulted in a bust phase and the long crypto winter of 2018 and 2019, there’s no reason to believe that this will happen again in 2021. Blockchain technology has progressed significantly since the last bull market, and the upcoming year is poised to continue delivering usable solutions for scalability, privacy and identity that may power the next major cycle of cryptocurrency adoption.

Title: These 2020 blockchain tech developments have set the stage for 2021
Sourced From: cointelegraph.com/news/these-2020-blockchain-tech-developments-have-set-the-stage-for-2021
Published Date: Wed, 30 Dec 2020 19:37:42 +0000

Source: magnewsblog.com

Author: Lillian Call


Ethereum Daily Transactions Doubled in 2020 and Hit 1.1M in December, Bitcoin Transactions Dropped by 16% Since January| APN News

Ethereum Daily Transactions Doubled in 2020 and Hit 1.1M in December, Bitcoin Transactions Dropped by 16% Since January| APN News

Published on December 31, 2020

As one of the leading cryptocurrencies, Ethereum has witnessed impressive growth this year, both in terms of market cap and the number of transactions.

According to data presented by AksjeBloggen.com, Ethereum daily transactions doubled in 2020, reaching over 1.1 million in the second week of December, while the number of Bitcoin transactions dropped by 16% since the beginning of the year.

Ethereum Transactions Surged in Q2 2020

As one of the first examples of how bitcoin’s blockchain technology could be enhanced to new functions, Ethereum had gained a lot of attention since its creation five years ago.

In October 2019, the average number of Ethereum daily transactions amounted to over 744,000, revealed the CoinMetrics data. By the end of the year, this figure dropped to 554,200.

However, the number of transactions started rising in the first quarter of 2020, reaching 731,700 in March, a 32% jump in three months. The increasing trend continued in the following months with the figure rising to almost 900,000 in April.

Statistics show the number of daily transactions surged between May and June to over 1.1 million. In August, Ethereum transactions peaked at 1.23 million, an almost 40% jump in four months. The CoinMetrics data show the average number of daily transactions remained between 1 million and 1.1 million in the fourth quarter, double than a year ago.

As the world’s leading cryptocurrency, Bitcoin witnessed a downsizing trend in the number of transactions this year. In December 2019, the average number of daily Bitcoin transactions stood at almost 290,000.

By the end of June, this figure rose to 306,300. However, the second half of 2020 delivered a negative trend, with the number of transactions falling to 256,600 in the first week of December, the lowest number this year. By December 13th, daily transactions rose to 274,700. Still, 16% less than in January.

Ethereum Market Cap Surged by 460% in 2020

Besides a surge in daily transactions, statistics show Ethereum witnessed the most impressive market cap growth among the top cryptocurrencies this year.

In January, the Ethereum market cap amounted to $14.2bn. After a drop to $12.9bn in March, the combined value of all Ethereum coins hit $25.1bn in June and continued rising. By the middle of September, this figure doubled and reached $53.7bn.

Statistics show the Ethereum market cap surged by 460% since the beginning of 2020 and hit $79.7bn last week. In comparison, Bitcoin’s market cap jumped by 268% since January, reaching $498.9bn last week.

Source: otcpm24.com

Author: News Bureau


Ethereum Price Prediction: ETH/USD Bulls Battling To Head toward $750

Ethereum Price Prediction: ETH/USD Bulls Battling To Head toward $750

ETH Price Prediction – December 30

Ethereum has been battling with the $750 resistance as the price failed to break it.

Key Levels:

Resistance levels: $800, $820, $840

Support levels: $680, $660, $640

ETH/USD is currently in consolidation above $740 after touching a yearly high of $747 a couple of days ago. However, the price has come down a little bit, compared to the recent gains. The technical indicator is now moving into the overbought region as bulls remain dominant to end 2020 on a high note.

At the time of writing, the pair is trading at $741, near the upper boundary of the channel. Meanwhile, the current pullback won’t worry bulls as the massive volume floor underneath the pair will support it for another bull-run once 2021 kicks in. The technical indicator is also lining up nicely to support further uptrend. The support at $700 could ward off any short-term pullback.

The current rising trend line is near $750 and is sloping upwards. Despite the pressure from the bears, the price channel is trending upwards. ETH/USD buyers are booking short-term profits near $745 resistance only to accumulate at lower price levels near $715. The top at $747 will further entice some bears to book profits. The resistance levels to watch are $800, $820, and $840 while the supports are located at $680, $660, and $640 respectively.

When compares with BTC, Ethereum is trading above the 9-day moving average and the price is now hovering at 2620 SAT as the technical indicator RSI (14) moves to cross below the 40-level. For the fact that the bears remain the dominant of the market, the pair seems to be moving towards the south.

However, the support levels to be reached are 2300 SAT and 2200 SAT. On the other hand, a higher sustainable move may likely cancel the bearish pattern and this could attract new buyers coming into the market with the next focus on 3000 SAT and 3200 SAT resistance levels.

Source: insidebitcoins.com

Author: FOLLOW ON


Ethereum is Gearing Up for a Large Breakout; Right here’s How Excessive It Could Surge

Ethereum is Gearing Up for a Large Breakout; Right here’s How Excessive It Could Surge

  • Ethereum has been critically underperforming Bitcoin over the previous few weeks, which comes as most altcoins lose important worth in opposition to BTC
  • ETH has seen a number of sharp rises which have helped it to buck this development and acquire some floor in opposition to BTC
  • Nonetheless, it has nonetheless been typically unable to maintain up with Bitcoin’s huge momentum
  • This development could not final for lengthy, nonetheless, as one analyst is now pointing to some elements that counsel a large rally is brewing for ETH
  • He notes {that a} mixture of technical elements suggests {that a} transfer to $800 is more likely to happen within the short-term

Ethereum has gained a powerful foothold above $700, but it surely has been unable to increase its current momentum. Every transfer into the mid-$700 area has resulted in it seeing comparatively robust selloffs.

One dealer is now noting that the place the crypto tendencies within the mid-term will probably depend upon whether or not or not bulls will affirm a number of bullish technical formations which are at present in play.

He notes {that a} wave sample mixed with an ascending triangle signifies {that a} transfer as much as $800 will probably happen within the days forward.

As has been seen over the previous few weeks, Bitcoin’s uptrend is as soon as once more occurring in isolation, with Ethereum and different main altcoins being unable to match the momentum seen by Bitcoin.

This development has induced most altcoins, together with ETH, to type comparatively bearish charts for his or her BTC buying and selling pairs, and it stays unclear as to when this development will shift.

It would probably require BTC to see a protracted consolidation section, or doubtlessly a pointy downside ensuing from buyers rotating capital.

One dealer continues to be assured that Ethereum’s short-term outlook is vibrant, noting that there’s a powerful risk {that a} wave sample and ascending triangle each enable it to surge in the direction of $800 or larger.

“ETH looks like its gagging for a breakout any time now. Good ascending triangle in an uptrend on the usd pair forming and we already had a powerful 5 wave rise and now abc down on eth/btc. Ez scalp to 800 imo, long run a lot larger.”

Picture Courtesy of Good Contracter. Supply: ETHUSD on TradingView.

This upswing might want to happen within the subsequent few days, or else each of the patterns he talked about could possibly be invalidated.

Source: techandinfovalley.com

Author: Admin


Bitcoin is Breaking $29,000 RIGHT NOW! MAJOR Bitcoin, Ethereum, & Cryptocurrency News Today! 🎉

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