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There’s Less than $100k at Stake on Ethereum Gambling DApp Augur

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Tetras Capital Founding Partner Alex Sunnarborg has revealed that decentralised gambling platform Augur is suffering from the same lack of volume that continues to plague the decentralized application (dApp) ecosystem at large. Reacting to the platform’s weekly report released on January 9, Sunnarborg stated that the total volume of active markets on Augur is, in fact, less than $100,000.

In the report, Augur placed the total value of bets placed on the platform at $2,040,934.63 (13,451 ETH). This value was achieved across a total of 1,724 markets. Writing on Twitter, however, Sunnarborg tore into this valuation, stating that it includes already concluded bets which when removed present a different picture of the platform’s adoption.

DApp Hype Versus Adoption Reality

In his Twitter post, Sunnarborg said:

Buttressing his point about low Augur usage in another post on the same thread, he said:

It will be recalled that this is not the first time that the low adoption of dApps compared to expectations has attracted attention. In August 2018, CCN reported that the number of dApps with more than 300 active daily users across both Ethereum and EOS came to just eight in total. This came in spite of the continued growth of dApp development, particularly on the Ethereum network, which hosts Augur. In November, Augur did record close to $2 million in bets on the US midterm elections, but this turned out to be a false dawn for the platform which has not taken off as many dApp developers hoped it would.

Augur Assassination Markets Spark Controversy

Donald Trump Cryptocurrency
Augur users have placed bets on whether US President Donald Trump will be assassinated.

The platform has also faced controversy about the desirability of its advertised absence of censorship. At launch, Augur was marketed as a fully decentralised betting platform that would give users the ability to open markets on just about any kind of bet without the threat of removal. Predictably, this led to the embarrassing appearance of assassination markets on US President Donald Trump and Amazon founder Jeff Bezos. The platform also recorded bets on the survival of actress Betty White and the late US Senator John McCain.

Beyond ethical considerations and problems specific to Augur, Sunnarborg’s observations raise more questions about the long term usability of dApps. Some have pointed to such low user figures as proof of the fundamental failure of dApps to deliver on their promise. Speaking in August, however, Gnosis founder Martin Köppelmann insisted that the success of dApps should not be measured by user numbers. According to him, the true measure of dApps’ success lies is in how many dApps are created and use contracts from other dApps.

Amidst the lack of user enthusiasm for dApps, one bright spot over the past few months has been TRON. In December , CCN reported that recorded over 100 million transactions in 173 days across 50 dApps and 1 million accounts. Perhaps buoyed by this, TRON founder Justin Sun recently issued a taunt to Ethereum and EOS, announcing his intention to launch a fund to poach developers from the two blockchain platforms.

Source. ccn

Ethereum

Ethereum market update: ETH/USD bears scatter on reclaiming $200 support

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  • The bear pressure squeezed the price past $200 for the second time in July.
  • Ethereum is trading between the moving average support and resistance.

ETH/USD trading pair has appreciated in value following the rebound from the lows experienced on Tuesday. Gaining 2% on the day, Ethereum is among the recovery leaders. The bear pressure squeezed the price past $200 for the second time this month.

Previously, Ethereum found support at $190 giving way for gains that hit a snag at the 38.2% Fib retracement level taken between the last swing high of $235.90 to a swing low of $190.80. The plunge yesterday embraced the support at $195 and ETH/USD recovered above $200.

Also Read: LedgerX sets the bar high for retail investors with the new $100,000 Bitcoin call option

Meanwhile, the price is dancing with $203 after retracing from the short-term resistance at $205. At the moment, Ethereum is trading between the moving average support and resistance where the 50 Simple Moving Average is providing support at $200 while the 100 SMA 15-mins is limiting upward movement at $207.

Indicators are slightly bullish sending positive signals. The Relative Strength Index is moving sideways at 60 suggesting sideways trading between the resistance at $205 and support at $200. The sideways trading is also emphasized by the horizontally sloping Moving Average Convergence Divergence (MACD).

ETH/USD 15-mins chart

source:.fxstreet.

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Ethereum (ETH/USD) forecast and analysis on July 17, 2019

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Cryptocurrency Ethereum (ETH/USD) is trading at 229. Cryptocurrency quotes are trading below the moving average with a period of 55. This indicates the presence of a bearish trend on Ethereum. At the moment, cryptocurrency quotes are moving near the lower border of the Bollinger Bands indicator bands.

Ethereum (ETH/USD) forecast and analysis on July 17, 2019

As part of the Ethereum course forecast, a test of level 245 is expected. Where should we expect an attempt to continue the fall of ETH/USD and further development of the downward trend. The purpose of this movement is the area near the level of 182. The conservative area for sales of Ethereum is located near the upper border of the Bollinger Bands indicator at the level of 290.

Ethereum (ETH/USD) forecast and analysis on July 17, 2019

Cancellation of the option to continue the decline in the rate of Ethereum will be the breakdown of the area of ​​the upper border of the Bollinger Bands indicator. As well as a moving average with a period of 55 and closing of quotations of the pair above the area of ​​300. This will indicate a change in the current trend in favor of the bullish for ETH/USD. In case of a breakdown of the lower border of the Bollinger Bands indicator bands, one should expect an acceleration of the fall of the cryptocurrency.

Ethereum (ETH/USD) forecast and analysis on July 17, 2019implies a test level of 245. Further, it is expected to continue falling to the area below the level of 182. The conservative area for selling Ethereum is located area of 290. Canceling the option of falling cryptocurrency will be a breakdown of the level of 300. In this case, we can expect continuation growth.

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Ethereum price analysis: ETH/USD creeps above $200

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  • ETH/USD bulls are celebrating victory as the coin trades above the critical $200.
  • An ultimate resistance is created by $230 handle.

Ethereum, the second-largest cryptocurrency with the current market capitalization of $21 billion, crashed below $200.00 handle and touched $190.00 on Tuesday amid major sell-off on the cryptocurrency market. ETH/USD has lost over 13% of its value in recent 24 hours and stayed unchanged since the beginning of Wednesday. By the time of writing, the coin managed to regain ground and settled $201.00.

Read also: Set Labs unveils Ethereum strategy trading bots
https://www.fxstreet.com/cryptocurrencies/news/set-labs-unveils-ethereum-trading-strategy-bots-201907162254

Ethereum’s technical picture

On the daily chart, a sustainable move above $200 will mitigate the immediate bearish pressure and create a precondition for an extended upside towards $230.00, which is the lower boundary of the recently broken channel strengthened by SMA100 (Simple Moving Average) on a daily chart.

On the downside, the initial support is created by the recent low of $190.60 closely followed by psychological $190.00 and the lower boundary of 4-hour Bollinger Band. A sustainable move below this handle will open up the way towards the next  bearish aim of $183.00 (SMA200, daily chart)

ETH/USD 1-day chart

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