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Ethereum Price to Test $100 Support, Will it Come up Short?

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As all cryptocurrencies remain buried under a fresh layer of bearish market pressure, it will be interesting to see how things move ahead in the coming weeks. For Ethereum, the double-digit value is coming a lot closer over the past few days. A bit more negative price pressure will crumble the support at $100, which is a pretty interesting development, although not necessarily for the right reasons.

Ethereum Price Support Runs out of Gas

Although it has been coming for quite some time now, the Ethereum price is genuinely on the verge of dropping back into the double-digit range. It is a development most holders and speculators would rather not see materialize, but there is very little reason to expect anything different in the coming weeks. As the onslaught continues, this pressure will only intensify further, and there is no telling where the bottom will be.

Over the past 24 hours, the Ethereum price lost another 6.3% in USD value and 4.5% over Bitcoin. As long as altcoins do not inch ahead in the BTC ratio, things will not improve anytime soon. For Ethereum, it seems this is a battle that simply can’t be won. As such, a drop below $100 would require just another 2% decline at this time. It is very likely to happen pretty soon, although one never knows if that will effectively be the bottom.

There is some positive news which might keep the Ethereum price in the triple-digit range for a while longer. Bitwise has seemingly confirmed they will introduce two new liquid funds. As one would come to expect, there will be a strong focus on Bitcoin, although the company isn’t giving up on Ethereum just yet either.  Whether or not that is the smart decision, is a different matter altogether.

 

On the other hand, one has to wonder if there is a future for Ethereum’s technology other than the creation of initial coin offerings. Although the smart contracts can be used for thousands of purposes, it is evident ICOs are the main trend to keep an eye on. As the SEC keeps cracking down on such projects, it seems to be a matter of time until either new use cases are discovered, or Ethereum moves away from consumer-oriented applications and services altogether.
When looking at the current market trend from a technical analysis perspective, it seems to be a matter of time until Ethereum drops below $100. There is genuinely nothing supporting the current level whatsoever, and the bearish pressure will not relent anytime soon either. A dip below $100 may only be the beginning of Ethereum’s troubles in the price department, for all one knows. Even so, all it takes is one massive Bitcoin bounce to pull everything else in the green accordingly.
The big question is how traders and speculators will respond once the Ethereum price drops below $100. Further market chaos is not entirely unexpected, although it seems unlikely the price will drop much lower than $99 during the initial hours. If no market reversal kicks in, a slow and steady bleed to $80 or lower is very likely to materialize in the coming weeks and months. Not the scenario people envisioned in January of 2018, that much is certain.
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On.Live Is Pleased to Announce That ONL Token Holders Can Now Use Bitgo’s Industry-Leading Wallet and Custodial Offerings

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BitGo is the market leader in digital asset financial services providing security, compliance, custodial, liquidity solutions for institutional investors. BitGo is the world’s largest processor of on-chain bitcoin transactions, processing 15% of global Bitcoin transactions and $15 billion per month across all cryptocurrencies.

In 2018, BitGo introduced BitGo Custody and launched BitGo Trust Company, the first qualified custodian purpose-built for storing digital assets. BitGo Business Wallets and BitGo Custody are used by hundreds of clients around the world including the largest cryptocurrency exchanges.

Since its inception in 2013, BitGo has been focused on the institutional market and that makes working together a natural fit, as we want to extend the accessibility of ONL tokens for institutional and enterprise clients.

On.Live is a distributed live video broadcast network project, build to fill the niche in payed live and on demand services delivery in the Internet. The platform offers one of the kind, innovative, no subscription business model, beneficial for all parties involved in On.Live marketplace.

With live streaming on the rise, and lack of other comparably flexible solutions on the market, On.Live is natural choice for access and delivery of live streamed services for individuals, small and big businesses. On.Live is aiming at becoming market leader and platform of choice for everyone who realizes the huge potential in live streaming, and what profits it may bring in his own economic activities.

We believe that BitGo’s support will elevate On.Live’s business potential, contribute to growth of the platform itself and positively affect the security of ONL.

Source:nulltx

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10,000 Retail Shops in France Will Sell Bitcoin, XRP, Ethereum, Litecoin and Dash, Powered by Payments Giant Ingenico: Report

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Bitcoin, XRP, Ethereum, Litecoin and Dash are reportedly expanding to 10,000 points of sale throughout France.

Digycode first rolled out its crypto coupons last year. The startup says it’s now expanding to over 10,000 shops through a collaboration with Paris-based payments giant Ingenico, according to local news outlet Cryptonaute. The leading payments firm reported $2.8 billion in revenue in 2017.

“‘The deployment of Digycode is the result of a partnership between Digital Service and Ingenico, and tobacconists equipped with a Devlyx cash registerare, therefore eligible to sell our product for their customers, commented Christopher Villegas, CEO of Digital Service.”

The crypto startup will offer prepaid recharge coupons that can be purchased in three available increments – 20, 50, or 200 euro – by visiting any of the supported locations. Once a customer redeems the coupon on Digycode’s website by using a secret code, the euro is converted into crypto.The company says crypto balances will appear in the user’s crypto wallet as soon as the transaction is confirmed.

Tobacco shops are selling crypto despite regulatory uncertainty.

France’s tobacco federation was granted permission to sell crypto from the French Prudential Supervision and Resolution Authority, according to a report from the French radio network Europe 1.

But France’s central bank is singing a different tune, saying it has not approved retail sales of cryptocurrency. In addition, the Financial Markets Authority, which regulates the country’s stock market, has issued a statement saying no company is licensed to sell crypto in stores.

Source.dailyhodl
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Crypto-Friendly Wyoming Becomes First US State to Give Bitcoin, XRP, Ethereum, Litecoin, EOS and Altcoin Owners Complete Property Rights

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The Wyomng Senate passed SF125 on Thursday. The “Digital Assets” bill will now become law, granting cryptocurrency holders property rights for direct ownership of digital assets. Wyoming is the first state in the US to pass a clear regulatory framework for Bitcoin, XRP, Ethereum, Litecoin, EOS and other altcoins, setting the stage for cryptocurrency investors, entrepreneurs and crypto-related businesses to flourish in the state.

The bill allows people to hold cryptocurrency without the need for an intermediary to own digital assets, and clears the way for banks to offer custodial services for cryptocurrencies.

According to the act, digital assets are considered intangible personal property.

“AN ACT relating to property; classifying digital assets within existing laws; specifying that digital assets are property within the Uniform Commercial Code; authorizing security interests in digital assets; establishing an opt-in framework for banks to provide custodial services for digital asset property as directed custodians; specifying standards and procedures for custodial services under this act; clarifying the jurisdiction of Wyoming courts relating to digital assets; specifying applicability; authorizing the promulgation of rules; and providing for an effective date.”

Other forms of intangible personal property are partnership interests, life insurance contracts, securities investments and royalty agreements.

The bill is expected to come into effect on July 1. It also supports the advancement of tokenized securities.

Caitlin Long, co-founder of the Wyoming Blockchain Coalition, expects the new legislation to attract blockchain companies and talent, making Wyoming a frontrunner in the space with a clear regulatory framework designed to foster innovation and spur adoption of Bitcoin, altcoins, blockchain-based businesses, trading platforms and crypto custodial services.

Source.dailyhodl

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