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UNICEF Will not Convert Bitcoin and Ethereum Donations to Fiat Currency

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Numerous organizations around the globe can benefit from various cryptocurrencies. UNICEF is one of those organizations, and it seems they are taking it to the next level. The UN Children’s agency now accepts, holds, and distributes donations of cryptocurrencies through the UNICEF Cryptocurrency Fund. 

UNICEF AND CRYPTOCURRENCY

It is rather surprising to see UNICEF bank so big on cryptocurrencies in this day and age. By actively launching the Cryptocurrency Fund, an important first step is taken in this regard. The goal is to use cryptocurrencies to fund open source technology projects. All contributions made in cryptocurrencies will be held in crypto, and even be distributed as the same cryptocurrency as well. This should bring a lot more positive attention to the supported currencies accordingly. 

It is a very interesting approach by UNICEF, although one that also makes sense at this time. There is no global form of money today other than Bitcoin and altcoins. Digital currencies can shape the lives of future generations walking this planet. UNICEF Executive Director Henrietta Fore confirms every option should be explored in this regard. Humanitarian and development work cannot continue without contributions in whichever format people are most comfortable with. 

ONLY BITCOIN AND ETHEREUM

For a new venture of this magnitude, it is only normal very few select currencies will be accepted. As of right now, the UNICEF Cryptocurrency Fund supports donations in both Bitcoin and Ethereum. These are the world’s two leading currencies in terms of market cap, marketing, and global appeal. It is possible other currencies will be added over time, depending on how successful this new Fund proves to be in the long run. 

Speaking of Ethereum, it appears the Ethereum Foundation will make a contribution fairly soon. The current plan is to use this donation to support three grantees of the UNICEF Innovation Fund, as well as a project coordinated by the GIGA Initiative. It is unclear which amounts will change hands. For now, all we know is how the Ethereum Foundation will finalize its contribution through the French National Committee for UNICEF.

A BIG BOON FOR CRYPTOCURRENCIES

Over the past few years, there have been numerous individual efforts to bring charities and cryptocurrency together. Some ventures have been successful, whereas others felt a bit lackluster. UNICEF has now sent a signal which aims to build a lasting “collaboration” between the two segments. One can only hope other organizations decide to give cryptocurrencies a permanent place in their structure, by whichever means necessary.

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Cryptocurrencies price prediction: Bitcoin Cash, Ripple & Litecoin

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Cryptocurrencies price prediction: Bitcoin Cash, Ripple & Litecoin

Bitcoin price prediction: BTC/USD may drop below $7,500 as support exists at $7,490

BTC/USD had a heavily bearish Thursday, wherein the price dropped from $8,088.50 to $7,617.15, going below $8,000 in the process. So far, BTC/USD has recovered to $7,649.50 this Friday. The daily confluence detector paints a pretty bleak picture as there are no healthy support levels above the $7,500-mark.

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Ripple price analysis: XRP/USD attempts a persuasive move to $0.25

Ripple bulls have endured an avalanche of resistance waves over the last trading week. From trading above $0.28, XRP has tested the lows below $0.24. The several support areas shuttered in the bear’s mission include $0.28, $0.26, $0.25 and $0.24. XRP established brand new support at $0.2350 which is giving way to the ongoing recovery.

Litecoin price update: LTC/USD recovery banks on this double-bottom pattern

Litecoin plunged below $50 as predicted in most of the analyses discussed this week. The tentative support at $54 gave in to the forceful selling pressure. Neither did the next support at $50 help to avert the slide. LTC/USD explored the lows towards $48 before making a shallow recovery above $50.

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BTC, ETH, XRP, BCH, LTC Nosedive – ‘Extreme Fear’ Indicator Suggests Bitcoin and Crypto Tremors Just Getting Started

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Bitcoin’s parabolic move to the downside continues.

The leading cryptocurrency briefly dropped below $7,000 before bouncing to its current price of $7,194.

The drop once again pulled the overall crypto market into the deep red, with Ethereum, XRP, Bitcoin Cash and Litecoin dropping 4% or more in the last 24 hours.

Here’s the bird’s-eye view from COIN360 at time of publishing.

Amid the crypto market free fall, the needle on the Crypto Fear & Greed Index from Alternative.me has shifted into “extreme fear.”

The gauge analyzes market volatility, surveys and sentiment on Twitter and other social media platforms to judge the mood of the overall crypto market.

Source: Alternative.me

According to Alternative.me, extreme fear could be an indication that the market is beginning to be oversold, and a swing to the upside may be on the horizon.

“Extreme fear can be a sign that investors are too worried. That could be a buying opportunity. When Investors are getting too greedy, that means the market is due for a correction.”

Crypto analyst and economist Alex Krüger pinpoints Bitcoin’s fall from nearly $14,000 this past June on short-lived euphoria triggered by President Xi Jinping who declared China’s support for blockchain technology.

That pump has vaporized and China is reiterating its tough stance on crypto trading.

“Some asked ‘why did this happen?’ A rationalization:

#1 China news used to drive price +42% (front-running expected new demand).

#2 Price dripped lower on low volume => increased demand never materialized.

#3 Sellers sold every single rip. They just did.”

Fellow analyst DonAlt says today’s close is key and BTC needs to stay above $6,900 in order to trigger a relief rally and avoid another immediate big move to the downside.

“Hit my above mentioned $6.9k support, now it’s time to wait & see if we can close the daily above it.

If yes, temporary relief up to 7700$ or even $8250, if not I’ll bid the HTF support around $6000.”

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The Plunge: Crypto Trader Bets $4 Million Long on Bitcoin (BTC) – Plus Ethereum, XRP, Ripple, Stellar, Tron Updates

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From a big bet on Bitcoin to the friendly competition between Ethereum and XRP, here’s a look at some of the stories breaking in the world of crypto.

Bitcoin

A popular margin trader on the crypto exchange BitMEX says he’s taking a $4-million bet on Bitcoin.

The trader, known in the industry as Flood, tells his 72,800 followers on Twitter that he’s now long on BTC and took the multi million-dollar position when the leading crypto hit $8,105.

In the long term, a former Wall Street trader and vice president at JP Morgan Chase, Tone Vays, says Bitcoin remains in a descending channel. He’s looking for BTC to move as low as $5,000.

Vays has been consistently bearish on the king coin throughout 2019 and says he’s looking forward to becoming a bull.

“At the moment, I’m still looking for $5,000, but not necessarily this year. We have about a month and a half to go, maybe even less. I am looking for that $5,000, more like January or February to finally, finally say I am no longer a bear.

You can say that that happened a year later than it should have. But the low a year ago was $3,000. If the secondary low comes in at $4,500 to $5,000, I’ll be ok with that. I’d rather be a year late at approximately the same price and I’m perfectly fine with that.”

Ripple, XRP and Ethereum

The CEO of the Malta-based crypto exchange CoinField says he’s a fan of both Ethereum and XRP.

After saying XRP has “better technology” than Ethereum in a recent interview, Bob Ras took to Twitter to say he’s a fan of both networks.

“The fact that we’ve selected the XRP Ledger over Ethereum doesn’t mean Ether has weak technology! We needed to offer the fastest and most cost-efficient solution within [the] Sologenic ecosystem to move liquidity in additional to the basic smart contract capability. The choice was XRP.”

CoinField recently fired up a Ripple-approved validator on the XRP Ledger as it gears up to launch Sologenic.

The platform is designed to let people trade thousands of tokenized versions of stocks and ETFs against both XRP and a new token called SOLO.

Tron

Tron creator Justin Sun has issued one of his trademark pre-announcement announcements.

Sun is promising to reveal a new acquisition soon and says he’s already sealed the deal. Tron’s most noteworthy acquisition came in July of last year, when the company bought the decentralized file-sharing platform BitTorrent for more than $100 million.

Stellar

The Stellar Development Foundation says it’s gearing up to give away 3,000,000 of its native crypto asset XLM.

It will be handed to developers and entrepreneurs looking to build on the network.

The deadline to submit proposals is December 14th and the winners will be announced in January.

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