A set of real-time indicators on the popular social trading platform TradingView have shifted into bullish territory for Bitcoin (BTC), Ethereum (ETH) and XRP.
All three coins have at least a “Buy” rating on the daily, weekly and monthly time frames. Bitcoin’s monthly chart is signaling a strong buy; Ethereum’s daily and weekly charts are signaling a strong buy; and XRP’s daily chart is rated a strong buy at time of publishing.
The platform’s trading indicators use a mix of methods for analysis, including moving averages, oscillators and pivots to forecast where the crypto assets may be heading.
Crypto strategist Josh Rager says the king of crypto is now facing resistance at $10,369, which happens to be Bitcoin’s exact price at time of publishing, according to COIN360. If BTC can break through this level, the analyst says a bigger move to the upside is in store.
“Up or down depends on this range – if price can close above $10,369, I foresee a move to $10,700’s to $10,900’s, with the potential to get as high as $11,500’s.
Break under $10,100 and $9,300 is potential target after a couple bounces in-between. Not worried about lower at the moment.
As for Ethereum and XRP, Rager says the second and third-largest coins could lead an altcoin breakout if Bitcoin continues to trend sideways.
“Looks like BTC has been a liquidation game, catching those offsides with high leverage 4% move down, 4% move up followed by another 4% back down. No Bitcoin trade zone, but keeping eyes on alts that could potentially move with BTC sideways.”
Right now, the crypto market is largely a sea of green, according to a bird’s eye view from COIN360. Bitcoin is up 1.38% at $10,369, Ethereum is up 5.68% at $282.02 and XRP is up 3.05% at $0.3350.
Chinese Government-Backed Institute Releases New Ranking of 37 Crypto Projects
China’s Center for Information and Industry Development has published its latest crypto project ranking — the first this year. A total of 37 crypto projects, two more than in the previous ranking, were evaluated and ranked overall this month as well as in three separate categories.
The 16th Ranking, First This Year
The Center for Information and Industry Development (CCID), under China’s Ministry of Industry and Information Technology, released its first crypto project ranking for the year on Friday. Prior to this, the last one was published in December, with 35 crypto projects ranked. This month, two more were added, bringing the total of ranked projects to 37. In addition to the overall ranking, the center evaluated the crypto projects based on their basic technology, applicability, and creativity. The ranking is updated every two months and this month is the 16th update.
EOS remains top of the overall ranking, followed by Tron and then Ethereum. In December, Tron was in third place with Ethereum in second. This month, Bitcoin fell from the 9th place to the 11th place while Bitcoin Cash dropped from the 27th place to the 34th.
Meanwhile, Nuls dropped from the 4th place to the 10th place, Bitshares from the 8th place to the 24th, Waves from the 12th to 22nd, Zilliqa from the 13th to 25th, and Tezos from the 26th to 33rd. Some projects improved such as Ripple which rose from the 18th place to the 13th and Cosmos from the 24th to the 14th.
IOST and GXS Added
Two additions to the list of projects ranked this month are IOST and GXS. The former describes itself as “an ultra-fast, decentralized blockchain network based on the next-generation consensus algorithm ‘Proof of Believability’ (PoB).” The latter, also called Gxchain, is “a fundamental blockchain for the global data economy, designed to build a trusted data internet of value,” according to its website. IOST debuted at number six in the overall ranking. Gxchain was previously ranked but was removed in the October update. It is now back at number seven in the overall ranking.
In terms of the three sub-rankings, EOS scored the highest in the basic technology category, followed by Tron, IOST, GXS, and Steem. For the applicability category, Ethereum tops the ranking, followed by Tron, and Neo. For the creativity category, BTC scored much higher than the other projects. The second place is occupied by Ethereum, then Lisk, and EOS.
The rankings are compiled by the CCID (Qingdao) Blockchain Research Institute, an entity established by the CCID. The evaluation work is carried out in collaboration with multiple organizations, such as the CCID think tank and the China Software Evaluation Center. “The result of this assessment will allow the CCID group to provide better technical consulting services for government agencies, business enterprises, research institutes, and technology developers,” the center previously explained. The CCID provides professional services to the government, including research, consulting, evaluation, certification, and research and development, its website details.
In January, news.Bitcoin.com reported that the CCID released a report stating that there were more than 33,000 registered blockchain companies in December.
Crypto Investors Are Betting on Trump’s Odds of Winning the White House
A “TRUMP” coin is currently selling for just under $0.63 on the crypto derivatives exchange FTX.
The coin’s premise is simple: On Election Day (November 3rd), if Donald Trump is reelected, the coin will be worth $1. If he’s not, it drops to zero.
FTX also offers coins for all the major Democratic contenders. For example, Bernie Sanders, the current Democratic frontrunner, has a coin trading at about $0.21. You can buy a Michael Bloomberg coin for just under $0.10 – a price that plummeted from more than $0.13 after his poorly received debate performance on Wednesday night.
In an interview on Venture Coinist, FTX CEO Sam Bankman-Fried says his company saw an opening in the gambling market.
“The current venues for trading these things are really clunky. As anyone who’s tried using PredictIt or Betfair or any of the other major platforms will quickly realize, these are not platforms meant to make it easy to do big trades in these things.
PredictIt has an $800 cap per person. Trying to get money in and out of these places is a big pain, and they’re not liquid. The fees are huge. You’re paying like a percent or two to get trades off.”
FTX launched the presidential coins last month, and they’ve been huge for user growth at the exchange, according to Bankman-Fried. The exchange has doubled the normal number of new sign-ups since the TRUMP coin went live.
Structured like a futures market, participants can access 2-3x margins on the coins. FTX is also looking into listing coins for other betting markets, since Bankman-Fried says their infrastructure is well-suited for online gambling.
“Obviously FTX first and foremost is a crypto derivatives exchange. More than half the volume is trading in the Bitcoin perpetual futures contract. But if you look at the core product and technology… it’s a matching engine and a risk engine… In addition to being a pricing source, it’s also a really great settlement source.
In addition to having the core technology, it also has a really easy way to move capital in and out in a flexible way. You can do dollars, stablecoins, crypto, Bitcoin. Putting all those together, it’s an easy settlement source plus matching engine plus risk engine, and that really is just sort of the core of what makes up prediction markets.”
People are also betting on the reelection via the Augur-powered Predictions.Global market.
Survey Unveils Profile of Bitcoin (BTC) and Ethereum (ETH) Holders in Malaysia, Vietnam and the Philippines
The Organization for Economic Cooperation and Development (OECD) has released a 62-page report on the behaviors, attitudes, and experiences of crypto holders in Southeast Asia.
The survey shows a number of findings regarding the profiles of people in Malaysia, Vietnam and the Philippines who own cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH).
Based on a sample of 3,006 online participants, the research reveals that 34% of Millennials, 25 to 34 years old, own cryptocurrencies. The age group represents the highest ownership of crypto assets in the three Asian countries. In addition, 82% of crypto holders have a bachelor’s degree or higher. This is particularly true for the Philippines and Vietnam where at least 88% of participants are highly-educated.
When it comes to gender, it appears there’s no significant statistical difference in crypto ownership between men and women.
The future intentions of crypto owners in the three countries reveal that 53% “would like to hold” their cryptocurrencies as opposed to selling, exchanging or spending. The percentage is significantly higher in Vietnam where 59% of participants prefer to hold their crypto assets.
In terms of their level of understanding of cryptocurrencies, more than 80% do not understand their digital assets very well. According to the survey, only 17% of all respondents replied that they understand cryptocurrencies “very well.” Vietnam has the highest number of respondents who know their digital investments very well at 23%.
The survey also reveals the key driver among crypto enthusiasts: the desire to make a quick buck. The majority of respondents who purchased cryptocurrencies are in it for the fast gains with 41% of the participants across the three countries confirming that they bought cryptocurrencies “to make money quickly.” The finding contrasts with the result showing that 53% prefer to hold their digital assets. Only 32% say that they bought cryptocurrencies for payment or online purchases.