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Cryptocurrency News Today – Headlines for December 3

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  • Binance Exchange Acquires Beijing-Based DappReview
  • The new acquisition will allow Binance to develop its dApps and setup new Blockchain utility.

According to reports, the world’s largest digital currency exchange, Binance, has acquired the Beijing-based DappReview. DappReview is an evaluation platform designed to offer data-driven solutions and advertising services to dApps. According to Viktor Radchenko, the founder of Binance’s Trust Wallet, Binance’s acquisition of DappReview will help it develop its existing dApps. It will also facilitate the creation of new Blockchain use cases.

In return for the benefits that Binance will enjoy as a result of the acquisition, Binance will offer DappReview the support it needs in non-technical fields like marketing and business development which will allow the platform to maintain its independence in operations and technical development.

Per the report, DappReview will launch a new set of products during the first quarter of next year. The company’s representative declined to make comments when asked about the new products that will be launched. However, it was described as an analytical tool. Binance’s acquisition of DappReview means it will now have a Beijing-based wholly-owned subsidiary. In recent weeks, the world’s largest exchange vociferously denied emerging reports that it had closed one of its offices in Shanghai. Binance had also played down rumors that it will launch a Beijing

office in the future.

Binance Declined for Comments when Asked About the Cost of the Deal with DappReview

The terms of the deal to acquire DappReview remain unknown because Binance declined to give details of the financial terms. The largest exchange didn’t disclose details of the particular entity that completed the acquisition.

Founded in March of last year by a former quant and BlackRock risk analyst, the DappReview platform provides only data-based research solutions and advertising services on no less than 3,900 dApps including wallets and exchanges, on about 13 public Blockchain’s, EOS, Tron and Ethereum. It is understood that DappReview has its own private influencer media account on the WeChat social media platform.

WeChat is the Chinese equivalent of leading social media platform, Facebook. It is through its WeChat account that DappReview provides reports on the latest dApps in Chinese. With its social media and data analytics account, the DappReview platform also offers its user’s marketing and advertising services. The entities that enjoy this include companies in the digital currency space, according to DappReview’s website.

It is not clear yet how this will impact the crypto market as a whole. The crypto winter lingered all through last week with coins seeing double digit loses. Altcoins are suffering while the largest crypto by market cap is also being affected by this turn of events.


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CryptoPokemons

TOP 3 Price Predictions: BTC, ETH, XRP – Bitcoin Pushing Ahead, Altcoins Showing False Breakout

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ETH and XRP are going up. Is it a sign of short-term growth or a false breakout?

The cryptocurrency market has surpassed the $251 billion capitalization mark. Against a relatively positive background, Stellar (XLM) stands out from the rest of the coins with a 16% increase in price. Bitcoin Cash (BCH) is the only asset located in the red compared to its previous position. 

Top 10 coins by Coinstats

Top 10 coins by Coinstats

Below is the main data for the top 3 coins:

NameTickerMarket CapPrice Volume (24H)Change (24H)
BitcoinBTC$168,373,175,300$9,338.17$28,561,394,0190.77%
EthereumETH$20,352,364,992$187.69$10,511,756,6571.56%
XRPXRP$13,020,596,006$0.301068$2,017,901,1162.69%

BTC/USD 

The four-month downtrend turned out to be a strong obstacle – Bitcoin (BTC) fell below $9,500. However, the forecast will become bearish again only if the price drops below the 200-Day Moving Average to a price of $9,127. Furthermore, the depreciation was not accompanied by an increase in volume, resulting in a possible be short-term increase.

Today, an interesting phenomenon at the CME Group, in which traders blew out the big wick and down to the $8,600 mark. The gap is considered closed when it is close to the body, and not to the shadow.

BTC/USD chart by TradingView

BTC/USD chart by TradingView

One positive note about yesterday is that the price broke the triangle, and did not go below the $9,200 mark, resulting in a new low. It is better not to fixate at the $9,200 mark as BTC will test the $9,000 mark again.👉MUST READ

The price traded for a long time in the rectangle, which is where the

accumulation took place. So far, its penetration is considered false. It needs to gain a foothold above it, and then BTC will go up to the $9,800-$9,900 mark. However, if the price goes below it, then the leading crypto will test the $8,600 mark.

At the time of publication, BTC was trading at $9,311. 

ETH/USD 

While BTC keeps hovering around the $9,000 mark, Ethereum (ETH) is trying to grow. The rate of this leading altcoin has increased by 1.36% throughout the day.

ETH/USD chart by TradingView

ETH/USD chart by TradingView

Looking at the chart, buyers are more active than sellers, resulting in a price increase of $190 sooner than later. However, there are no prerequisites for a further uptrend. The trading volume is decreasing, and even after the October 25th pump, ETH is not facing a correction. In conclusion, a rollback might occur to $180. 

At the time of publication, ETH was trading at $187.19.

XRP/USD

XRP has had the biggest gain in comparison to BTC and ETH. Its rate has increased by 2.37% since yesterday.

XRP/USD chart by TradingView

XRP/USD chart by TradingView

Looking at the 4H chart, XRP has been in the ascending channel for the last few days. However, the coin needs to fix above the $0.30 mark in order to confirm an upward movement. Currently, there are no reasons for that as the trading volume keeps decreasing. If the situation does not change, one might see a drop to $0.2950.

At the time of publication, XRP was trading at $0.3014.

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Cryptomarket

Decentralized Payment Network Logos Raises $3 Million in Seed Funding

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In-development decentralized payments platform Logos Network has successfully raised $3 million in seed funding, the startup announced Thursday.

Led by ZhenFund, the round also saw participation from Digital Currency Group, INBlockchain, Blockwater Capital, Global Blockchain Innovative Capital, AlphaBlock Capital and AlphaCoin Fund, according to a press release.

Logos is working to build a payments network inspired by the bitcoin blockchain, with a focus on a scalable, rapid network that still maintains high levels of security.

The firm’s CEO, Michael Zochowski, said the platform’s advantage comes from its “novel architecture,” adding:

“We’re similar to bitcoin [but] a little bit more robust, cheaper and massively more scalable. We’re very much focused on our core payments functionality rather than a general purpose network.”

As such, the company is developing a blockchain that combines aspects of various other existing protocols, including delegated proof-of-stake and sharding, to build a network capable of “hundreds of thousands of transactions per second on the first layer,” he said.

Currently, the project has an internal test network, or testnet, running with the core consensus and architecture implemented, and




plans to roll out a public testnet later in stages this autumn.

“We’ll start engaging the community at that point. In terms of the mainnet, that’ll be early 2019,” said Zochowski.

The seed funding will go towards not only helping develop the network, but also to grow an ecosystem for the platform, he continued. This includes creating blockchain explorers and peer-to-peer transaction apps.

“We’re really going to build out the user experience, and also build out the business side of things,” Zochowski said, though the immediate focus will be building and testing the network.

Zochowski compared the process he hoped Logos would undergo to NASA, noting that the space agency undergoes a strict development process when building any project.

“We’re really trying to adopt that development process,” he said, concluding:It’s one thing to have a white paper and it’s quite another thing to prove that everything works. Right now what we’re trying to achieve is some rigorous benchmarking and then taking a step back and making sure that what we bring to market is truly high integrity code that people can build upon.”

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Bitcoin

Bitcoin Top Price Prediction: Can run to $8,162 if support holds – Confluence Detector

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Bitcoin is looking for a new direction after the recent spasms and the tentative bottoming out. What’s next?

The Technical Confluence Indicator shows that BTC/USD faces several clusters of resistance on the way up, but the strongest one is only at $8,162. Before we examine that line, let us see the stepping stones on the way up. $7,636 is the convergence of the Pivot Point one-day Resistance 1, the Bolinger Band one-hour Upper, and the Fibonacci 23.6% one-week.

The next convergence to consider is the $7,806 level which is the congestion of the Fibonacci 38.2% one-week, and the Pivot Point one-day Resistance 2.

And finally, we can see that the most potent meeting point is at $8.162. That level is the meeting point of the all-important Fibonacci 38.2% one-month and the Fibonacci 61.8% one-week.

On the downside, $7379 is the confluence of the Pivot Point one-day Support 1, the Simple Moving




Average 5-one-day, the Simple Moving Average 100-1h, the SMA 5-15m, the SMA 50-4h, and more.

The last line to consider on the downside provides lots of support: $7,308 is where the Bolinger Band 15m-Lower, the one-month low, and the one-week low converge.

Here is how it looks on the tool:

BTCUSD confluence technical price prediction June 2018

The Confluence Detector finds exciting opportunities using Technical Confluences. The TC is a tool to locate and point out those price levels where there is a congestion of indicators, moving averages, Fibonacci levels, Pivot Points, etc. Knowing where these congestion points are located is very useful for the trader, and can be used as a basis for different strategies.

This tool assigns a certain amount of “weight” to each indicator, and this “weight” can influence adjacents price levels. These weightings mean that one price level without any indicator or moving average but under the influence of two “strongly weighted” levels accumulate more resistance than their neighbors. In these cases, the tool signals resistance in apparently empty areas.

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