Ethereum (CURRENCY:ETH) traded 3.9% higher against the US dollar during the 1-day period ending at 19:00 PM E.T. on June 12th. Ethereum has a market capitalization of $27.29 billion and $8.40 billion worth of Ethereum was traded on exchanges in the last day. One Ethereum coin can currently be purchased for $256.35 or 0.03150795 BTC on cryptocurrency exchanges including Exrates, IDAX, MBAex and Cobinhood. Over the last week, Ethereum has traded up 3.9% against the US dollar.
Here is how similar cryptocurrencies have performed over the last day:
- Ethereum Classic (ETC) traded up 3.7% against the dollar and now trades at $8.55 or 0.00105399 BTC.
- Ether Zero (ETZ) traded 6.9% higher against the dollar and now trades at $0.25 or 0.00003053 BTC.
- Bitcoiin (B2G) traded up 10.7% against the dollar and now trades at $0.27 or 0.00003368 BTC.
- Callisto Network (CLO) traded 2.2% higher against the dollar and now trades at $0.0030 or 0.00000037 BTC.
- Musicoin (MUSIC) traded up 6% against the dollar and now trades at $0.0009 or 0.00000011 BTC.
- Bowhead (AHT) traded flat against the dollar and now trades at $0.0244 or 0.00000377 BTC.
- Elementrem (ELE) traded flat against the dollar and now trades at $0.0047 or 0.00000120 BTC.
- Ellaism (ELLA) traded up 23.3% against the dollar and now trades at $0.0062 or 0.00000077 BTC.
- DaxxCoin (DAXX) traded flat against the dollar and now trades at $0.0001 or 0.00000003 BTC.
- Akroma (AKA) traded 6.4% lower against the dollar and now trades at $0.0018 or 0.00000023 BTC.
Ethereum is a proof-of-work (PoW) coin that uses the Ethash hashing algorithm. Its launch date was July 30th, 2015. Ethereum’s total supply is 106,464,795 coins. Ethereum’s official message board is forum.ethereum.org. The Reddit community for Ethereum is /r/ethereum and the currency’s Github account can be viewed here. Ethereum’s official website is www.ethereum.org. Ethereum’s official Twitter account is @ethereumproject and its Facebook page is accessible here.
According to CryptoCompare, “Sandwich complexity model: the bottom level architecture of Ethereum should be as simple as possible, and the interfaces to Ethereum (including high level programming languages for developers and the user interface for users) should be as easy to understand as possible. Where complexity is inevitable, it should be pushed into the “middle layers” of the protocol, that are not part of the core consensus but are also not seen by end users – high-level-language compilers, argument serialization and deserialization scripts, storage data structure models, the leveldb storage interface and the wire protocol, etc. However, this preference is not absolute. Freedom: users should not be restricted in what they use the Ethereum protocol for, and we should not attempt to preferentially favor or disfavor certain kinds of Ethereum contracts or transactions based on the nature of their purpose. This is similar to the guiding principle behind the concept of “net neutrality”. One example of this principle not being followed is the situation in the Bitcoin transaction protocol where use of the blockchain for “off-label” purposes (eg. data storage, meta-protocols) is discouraged, and in some cases explicit quasi-protocol changes (eg. OP_RETURN restriction to 40 bytes) are made to attempt to attack applications using the blockchain in “unauthorized” ways. In Ethereum, we instead strongly favor the approach of setting up transaction fees in such a way as to be roughly incentive-compatible, such that users that use the blockchain in bloat-producing ways internalize the cost of their activities (ie. Pigovian taxation). Generalization: protocol features and opcodes in Ethereum should embody maximally low-level concepts, so that they can be combined in arbitrary ways including ways that may not seem useful today but which may become useful later, and so that a bundle of low-level concepts can be made more efficient by stripping out some of its functionality when it is not necessary. An example of this principle being followed is our choice of a LOG opcode as a way of feeding information to (particularly light client) dapps, as opposed to simply logging all transactions and messages as was internally suggested earlier – the concept of “message” is really the agglomeration of multiple concepts, including “function call” and “event interesting to outside watchers”, and it is worth separating the two. Have No Features: as a corollary to generalization, the dev team often refuses to build in even very common high-level use cases as intrinsic parts of the protocol, with the understanding that if people really want to do it they can always create a sub-protocol (eg. ether-backed subcurrency, bitcoin/litecoin/dogecoin sidechain, etc) inside of a contract. An example of this is the lack of a Bitcoin-like “locktime” feature in Ethereum, as such a feature can be simulated via a protocol where users send “signed data packets” and those data packets can be fed into a specialized contract that processes them and performs some corresponding function if the data packet is in some contract-specific sense valid. Non-risk-aversion: the dev team is okay with higher degrees of risk if a risk-increasing change provides very substantial benefits (eg. generalized state transitions, 50x faster block times, consensus efficiency, etc)”
Ethereum Coin Trading
Ethereum can be purchased on the following cryptocurrency exchanges: Bitstamp, LATOKEN, Vebitcoin, HADAX, BigONE, Allbit, EXX, Poloniex, DragonEX, Gemini, Hotbit, Rfinex, CoinBene, Coindeal, CoinEgg, Huobi, CPDAX, OEX, LocalTrade, BtcTurk, BTC-Alpha, xBTCe, BtcTrade.im, ChaoEX, Coinhub, FCoin, Bibox, CEX.IO, IDCM, Exrates, Liqui, RightBTC, DDEX, OasisDEX, IDAX, BTC Markets, YoBit, Bithumb, Indodax, Sistemkoin, Coinbase Pro, Bitfinex, Fatbtc, TOPBTC, Coinsquare, DigiFinex, Mercatox, GOPAX, BitMart, Instant Bitex, Kucoin, Binance, CoinEx, BiteBTC, Bitlish, UEX, Bitbank, Livecoin, OOOBTC, Gate.io, MBAex, Exmo, HitBTC, B2BX, Bittrex, DOBI trade, Bancor Network, Cryptonex, Liquid, IDEX, Bitsane, Coinsuper, BitForex, Coinone, ZB.COM, TDAX, OKEx, Bit-Z, Simex, LBank, C2CX, Kryptono, Cobinhood, Korbit, Allcoin, BCEX, CoinTiger, ABCC, Kraken, BX Thailand, Neraex, Covesting and Upbit. Investors seeking to trade Ethereum using U.S. dollars directly can do so using Changelly, Gemini or GDAX.
Ethereum Forecast and Analysis September 16 — 20, 2019
Ethereum ETH/USD closes the trading week at 177.42 and continues to move as part of the fall and the formation of the bullish «Wolfe Wave» pattern. Moving averages indicate a bearish trend for ETH/USD. At the moment, we should expect an attempt to fall and test the support level near the area of 130.45. Where again we should expect a rebound and continued growth of the Ethereum rate with a potential target above the level of 250.00.
Ethereum Forecast and Analysis September 16 — 20, 2019
In favor of raising the ETH/USD quotes for the current trading week from September 16 to 20, 2019, a test of the support line on the relative strength index (RSI) will come out. The second signal will be a rebound from the lower boundary of the bullish «Wolfe Wave» model. Cancellation of the growth option will be a fall and a breakdown of the level of 95.00. This will indicate a breakdown of the support area and a continued decline in ETH/USD with a potential target below 55.00. A confirmation of the growth of the Ethereum cryptocurrency will be a breakdown of the resistance area and closing of quotations above the level of 215.00.
Ethereum Forecast and Analysis September 16 — 20, 2019 implies an attempt to test the support area near the level of 130.45. Where can we expect a rebound and continued growth of the cryptocurrency in the region above the level of 250.00. An additional signal in favor of the rise in Ethereum will be a test of the trend line on the relative strength index (RSI). Cancellation of the growth option will be a fall and a breakdown of the 95.00 area. In this case, we should expect continued decline with a target below the area of 65.00.
Harbor Tokenizes Real Estate Funds Worth $100 Million on Ethereum
Harbor has pivoted from helping companies issue security tokens to helping them tokenize existing securities.
Announced Monday, the startup has created tokens on the ethereum blockchain representing the shares of four real estate funds worth $100 million.
The move is intended to make these private securities easier to trade for the 1,100 investors that hold them, along with 17 broker-dealers and 17 placement agents that work with the funds’ manager, iCap Equity.
“For years, we’ve been looking for ways to create the best investment experience we can and for us that means providing liquidity for them,” said Chris Christensen, CEO of Bellevue, Washington-based iCap.
The news also represents a strategic shift for Harbor, from helping clients raise funds by selling security tokens to providing an infrastructure layer for such instruments.
Harbor “evolved from crowdfunding and tokens to being the Salesforce.com” of the security token industry, said Josh Stein, CEO of San Francisco-based Harbor.
Initially, the company tried to build tokens backed by real-world assets. It reckoned that if investors were interested in initial coin offerings (ICOs) issued by projects with only a promise, they would “be excited” for backed tokens, Stein said.
However, he added:
“The overlap between investors demanding tokens and investors interested in security tokens was zero. People were buying tokens but they weren’t buying it to invest, they were buying it to speculate.”
Last year, Harbor partnered with DRW Holdings’ real estate wing to facilitate the sale of nearly 1,000 tokenized shares in an apartment building. However, the deal fell apart earlier this year due to issues between the mortgage lender and issuer.
Harbor is providing a user platform for the investors, broker-dealers and advisors, which includes a private marketplace they can use to trade the securities.
Christensen said the funds are “high-yield, [which] usually requires a lockup” under which investors contractually cannot sell their shares for three to five years.
“We just knew if we can provide measured liquidity for them and allow us to continue our business model [but] allow them to … exit as needed, that would be cutting-edge,” he said.
Typically, iCap investors buy securities and commit to the multi-year lockup. However, investors could need their money back before that period ended, Christensen explained. Under its old system, these investors would have to find another investor who would be willing to purchase the securities and commit to the remainder of the lockup period.
The process to find an investor interested in purchasing these securities and then transfer them was time-consuming and costly, but a market already exists: Christensen said his company has previously facilitated $2 million in trades for these funds.
“What Harbor does is they automate this entire process,” he added. “Those who want to come in come in, those who want to exit can do that.”
The 17 broker-dealers that now have access to the platform include Bradley Wealth, an investment advisor.
“It’s never going to be like a public market, but we can take something that’s illiquid or semi-liquid and make it more liquid,” Stein said.
‘Nobody’s marketing it’
iCap operates under Rule 144 of the Securities Exchange Act of 1934, which requires a one-year mandatory lockup period for securities sold, separate from the restrictions the firm imposes, Christensen said.
“Once you’ve held a security for one year, it can be freely tradeable,” he said.
What is interesting, Stein said, is that after this first year ends, non-accredited investors can trade the securities (though iCap approves the platform’s users, so it is not open to the general public).
“I don’t think it’s a goal but what it says to these broker-dealers and RIAs [is] that they have this investment … they can get their non-accredited clients into it,” he said.
He noted that unlike ICOs or other crowdfunding efforts, these fund shares, now represented by ERC-20 tokens on ethereum, are passive instruments.
“It’s not like when you think of ICOs or crowdfunding where somebody’s pushing an investment,” he said. “It democratizes it but nobody’s out there marketing it.”
Nevertheless, Stein said the new strategy is aligned with Harbor’s broader mission, concluding:
“What we’re hoping to do is increase access … in real estate and other [areas], which was kind of the promise of security tokens to begin with. We’re just going about it a different way.”
Ethereum Price Analysis – ETH On The Move Back Above $200 As Bulls Wake-Up Against BTC
|Key ETH resistance levels:||$193, $200, $202, $210, $213, $215|
|Key ETH support levels:||$185, $176, $171, $165, $158, $149|
*Price at the time of writing
Ethereum ETH, 0.94% has seen a 1.16% price hike over the past 24 hours which has allowed the cryptocurrency to reach the $190.48 level. Ethereum has been on a decent run this week after increasing by a total of 5.49% – making it the strongest performer amongst the top 5 cryptocurrency projects.
If this bullish press can continue for ETH, we could see Ethereum testing the $250 level toward the end of the month. Ethereum remains ranked in 2nd position with a total market cap value of $20.59 billion. Ethereum still has a long recovery ahead of itself after losing 28% throughout the past 3 months.
Ethereum price analysis
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What has been going on?
Taking a look at the daily chart above, we can see that the latest price increase has now allowed Etehreum to rise back above the $190 level as it currently tests resistance at the previous rising support trend line (now turned to resistance).
Ethereum price short-term prediction: Neutral/Bullish
This recent uptick has now turned this market from bearish to neutral. For the market to be considered as bullish, we would need to see price action rise and break above the $202 level to create a fresh high. If this market was to drop beneath the support at $165, then the market could be considered as bearish.
If the buyers continue to drive price action above the current level of resistance, initial higher resistance is then to be expected at the $200 and $202 levels. Above $202, resistance is then expected between $210 and $213, provided by the 100-day EMA and 200-day EMA. If the buyers can continue beyond this level of congestion, resistance is then expected at $220, $225, $235, $240, $250, $271, and $287.
What are the technical indicators showing?
The RSI has recently penetrated above the 50 level, which shows that the bulls have now gained control over the market momentum. If the RSI can remain above 50 and climb higher, we can expect Ethereum to certainly head back above $200.
Trade idea – Buy Ethereum above ₿0.0019.
Ethereum has risen quite sharply against BTC. If this bullish pressure can continue higher, we can certainly expect ETH/BTC to make its way toward ₿0.020 and further higher.
In this trade idea, we will buy ETH once it breaks up above ₿0.019. This is to confirm that the market can break above the current resistance at ₿0.0189. Stops can go a little beneath ₿0.018 to protect yourself if the market heads in the opposite direction.
The first target of this trade is located directly at the ₿0.02 level. This level of resistance is provided by the long term bearish .236 Fibonacci Retracement level. Above ₿0.02, we can then look for the next target to be located at ₿0.02180 (100-day EMA) with the last target at ₿0.02235.