2018 has seen the rise of stablecoins. Now we are in 2019, we should be wary of yet another stablecoin revolution since we believe that this year, stablecoins will become bigger and better than ever before. What is a Stablecoin? According to Investopedia: “Stablecoin refers to a new class of cryptocurrencies which offer price stability and/or are backed by reserve asset(s). In recent times, stablecoins have gained enough traction as they attempt to offer the best of both worlds – the instant processing and security of payments of cryptocurrencies, and the volatility-free stable valuations of fiat currencies.” Such stablecoins on the markets today include; Tether, USD Coin, TrueUSD, Paxos Standard Token, Dai, Gemini Dollar and others. Why should I buy them? Let’s remember that stablecoins are not an investment, you will not make a return from buying and holding stablecoins because they tend to be pegged to a stable asset, like FIAT current. In the instance of Tether, USDT is one Tether token that is pegged to the price of the US Dollar, therefore the token is always equal to $1.00. What’s the point? The idea of a stablecoin is to make it easier and safer to purchase and invest in other cryptocurrencies. Usually to purchase altcoins, you have to make the purchase in cryptocurrencies as many exchanges only allow for this feature. This means, you have to make a Bitcoin (or similar) purchase first, which instantly puts your deposit at risk, simply down to the fact Bitcoin is so volatile. Moving your money into Bitcoin, to purchase another cryptocurrency means in the end, you could lose more money than usual. So, to beat this crypto to crypto purchase requirement, stablecoins exist to allow you to purchase cryptocurrency, which in turn can be spent on other cryptocurrencies, without the volatility of traditional coins like Bitcoin. Stablecoins won’t sink in value overnight and thus, investors can safely hold stablecoins, in order to purchase crypto, knowing that their stablecoin holdings will not sink - they hold their value, therefore whatever you put in, you can get back out. Okay, of course it is a little more complex than this, however our advice is that if you do wish to make crypto to crypto purchases, you are a little safer in doing so, if you purchase stablecoins first. To choose the perfect stablecoin, you need to check out the stablecoins properties and most importantly, you need to check out what trading pairs exist with that coin and also which exchanges the stablecoin can be used within. It’s not a fool proof investment strategy and of course, purchasing crypto with stablecoins is still risky, but at the very least it does help you to protect your deposit somewhat. Remember that all cryptocurrency investment is risky, therefore before you choose to invest, make sure you do adequate prior research and be sure to trade safely.
The South African Revenue Service and other agencies are looking to create a new legal framework and tackle the country’s crypto taxation policies.
Ethereum core developers have reached a tentative consensus to implement a new proof-of-work algorithm that would reduce the efficiency of ASIC-based mining on the network
AMBCrypto: XRP’s tweet volume has a stronger correlation to its trading volume than Bitcoin [BTC] or Ethereum [ETH]
XRP community is one of the most active and passionate crypto-community in the space and according to data from “The Tie”, XRP’s Tweet volume is directly correlated to the Trade volume of XRP. In addition, XRP has the strongest correlation when compared to the dominant cryptocurrency, Bitcoin or Ethereum. The Tie tweeted: “Interesting look at […] The post XRP’s tweet volume has a stronger correlation to its trading volume than Bitcoin [BTC] or Ethereum [ETH] appeared first on AMBCrypto.
At press time, the father of crypto is trading for just over $3,700. This means that the currency has dropped by roughly $100 since our previous price article and is struggling to surpass present resistance at $4,000. The year has just begun and it’s difficult to assume what will occur in the long run, but […] The post Bitcoin Price Watch: Is the Currency’s Price Set to Expand Soon? appeared first on NullTX.
Top crypto exchanges OKEx and Huobi announced support of the upcoming Ethereum Constantinople hard fork
Ethereum Classic (ETC) is on track to test trend line resistance against Bitcoin (BTC) in the weeks ahead. The daily chart for ETC/BTC shows that Ethereum Classic (ETC) has been trading in a triangle since March, 2017. Ethereum Classic (ETC) is one of the few coins to have bled for this long against Bitcoin (BTC). This downtrend is yet to see an end although there is now a strong probability that ETC/BTC may break out of the triangle during the upcoming rally. This would be very unlikely to happen during the first attempt. Ethereum Classic (ETC) certainly has enough room to rally towards the trend line resistance but once it does that, it will not have much room to break past it. The price will have to correct and consolidate before it can attempt to break the trend line resistance. Currently, the slow stochastic indicator on the ETC/BTC daily chart points to a minor rally that should see the price reaching towards the trend line resistance. However, it shows that soon as it does that, the price will be under overbought conditions and it will have to correct before it can go up again. This supports our earlier view regarding a bull run in January leading up to mid-February. We will see a correction in February that should see most cryptocurrencies retrace significantly in order to prepare for the bull run that lies ahead. Ethereum Classic (ETC) will be one of those cryptocurrencies. Although ETC/BTC has suffered a lot in the past and has missed out on most gains, this time the situation is entirely different. If you had been trading ETC/USD between 2017 and 2018, it would not have made a significant difference. If you had been trading Ethereum (ETH), you could have made a far bigger return on your investment. This goes on to show that Ethereum Classic (ETC) as an investment has not been a good performer. However, to give it credit where due, we cannot deny that it has long been perceived as one of the safest altcoin investments. If somebody wanted to invest in altcoins but protect against significant downside, Ethereum Classic (ETC) was the go to cryptocurrency. Ethereum Classic (ETC) exhibited this behavior by holding its ground when the rest of the market would fall. This held true for the most part throughout the bear market. The situation has recently changed as Ethereum Classic (ETC)’s fundamentals have improved a lot more and the cryptocurrency has now become not just one of the safest altcoin investments, but it has also become of the most lucrative investments. Recent developments with ETC Labs have shown that the blockchain is headed for a brighter future where we will see more Dapps deployed on the ETC blockchain which will pave the way for mainstream adoption. It is pertinent to note that most investors in Ethereum Classic (ETC) at the moment are people who really understand and believe in the project. This cryptocurrency has yet to see interest from mainstream investors. However, once that happens, we could see the market cap difference between Ethereum (ETH) and Ethereum Classic (ETC) bridge a lot faster.
In all honesty, the recent months moving towards the end of 2018 have been very quiet for Litecoin, a cryptocurrency that has seen a huge squeeze in value and that has been pretty stagnated over the year. This, silence, however came off the back of one of cryptocurrencies more controversy rife stories. Litecoin has had it’s troubles through 2018, all of which have been spread across news channels and have been somewhat blown out of proportion. Litecoin is a buzz word, one that gets people talking. It’s no surprise really, Charlie Lee, the founder of Litecoin is one of cryptocurrencies most outspoken individuals, therefore when the two go hand in hand, a social media storm is often expected. Charlie Lee is one of the more famous cryptocurrency celebrities, he is most well known for his lairish behaviour online and for being keen to start a debate, or more likely, an argument. This isn’t a bad thing, it’s great to see an individual in the industry with such knowledge and such passion. I think this however brings us to our first point, possibly the biggest and most controversial thing to hit crypto, just 12 months ago. January As with every cryptocurrency, January has been referred to as the biggest month for cryptocurrency to date. This is because during this time, we experienced the biggest ever cryptocurrency bull run, the one that took Bitcoin to it’s all time high of $20,000.00 and the one that even managed to take Litecoin up to it’s own all time high of $338.00. Okay, so this price was tipped in December 2017, however through January Litecoin managed to maintain a very healthy value. What’s controversial about this you might be asking? Well, during the bull run that pushed Litecoin upwards, the creator of Litecoin, Charlie Lee, decided that it would be the best time to sell, and eventually sold all of his Litecoin holdings. This caused a stir, many people saw this as a wise move and asked, would litecoin ever reach that value again? On the flip side though, many saw this as an unwise move, given that Lee is on paper, the person who should have the most belief in the Litecoin project. Since he decided to sell, what message does that give to the community of investors? Charlie Lee’s decision to sell his Litecoin in December has been noted as the first move in a chain of events that has eventually seen the demise of Litecoin, in terms of value at least. Sadly, though the start of 2018, the bad news continued to roll in. February By February, the value of Litecoin sunk to $128.00 alongside the bear trend that had crippled the markets at the time. Many investors by this stage had lost confidence in Litecoin and like Lee, decided to sell up, causing a decline that only seemed to continue throughout the rest of the year. With this in mind, the Litecoin Foundation did admit to a number of exciting projects in the works that promised to have a big impact on the future value of Litecoin. If you don’t know, the end goal for Litecoin is to become the world's most adopted cryptocurrency. Litecoin aims to offer improvements to the Bitcoin network that make it more scalable and of course, faster, which as we know makes for better real life transactions. Indeed, part of this goal has already been met, with Litecoin seeing a huge uptake in adoption through the year, despite it’s falling value. Part of this adoption drive was set to be encouraged by the launch of LitePay, a new system announced by the Litecoin Foundation in February. According to their announcement: “After a month of deep double-digit dives in the crypto markets, we could be on the brink of a launch that sends it soaring again. The Litecoin Foundation is apparently now only days away from releasing a revolutionary new tool called LitePay. This new tool, first announced before Christmas, will allow businesses to accept payment in Litecoin (LTC), as well as with the Litecoin-exclusive debit card, from anywhere in the world instantly and without any of the worry associated with cryptocurrency value volatility.” March By March however, the LitePay hype train came to a very sudden and desperate stop, as the whole plan was abandoned. This, left many investors very disappointed, as through the hype generated by LitePay, investors believed that the launch of LitePay would inspire a Litecoin bull run, in the hope that Litecoin would eventually move back up from it’s March low of $115.00. According to CoinTelegraph, the Director of Operations at the Litecoin Foundation, Keith Yong announced: “We are currently working hard to tighten our due diligence practices and ensure that this does not happen again. Litecoin was doing perfectly fine before the promise of LitePay and will continue to do so. The ecosystem is far bigger than one company and is continually growing with support from many others with market ready products joining the space and fulfilling their promises to make it easier for the world to use Litecoin.” Charlie Lee himself took to Twitter to add: “Like everyone else, we got too excited about something that was too good to be true and we optimistically overlooked many of the warning signs. I am sorry for having hyped up this company and vow to do better due diligence in the future.” And that was that, LitePay was no more. The impact the failure of LitePay had, combined with scepticism surrounding Charlie Lee’s actions paved the way for a pretty disappointing rest of the year. May - 2019 During May, we did see a slight spike in the value of Litecoin as a result of the mid-April market surge, this in turn encouraged Litecoin to reach a value of $181.00, a two month high that soon sunk back down to $118.00 by the end of the month. From then on, the fall of Litecoin continued, moving down to a yearly low of $23.00 by December 2018. None of this means the end for Litecoin, what it does mean though is that the Litecoin Foundation and Charlie Lee have their work cut out for 2019 to ensure that they are able to rebuild the trust of their investors, in order to encourage some more investment into the Litecoin platform. Litecoin is a promising project, it’s a veteran across the markets and it’s one that really does have the opportunity to see some true, real world adoption in the future. It’s game on for Litecoin this year, watch this space! Crypto Revolution Giveaway Have you heard? Crypto Daily have launched their latest Ethereum giveaway, one that is set to inspire the start of a new crypto revolution! Click here for more information Click here to take part!
The cryptocurrency market has taken a new turn from the beginning of the year. The major cryptocurrencies that were reporting double-digit growths have now fallen. Litecoin [LTC], the seventh-largest cryptocurrency on the top-10 cryptocurrency list has dunked by 0.43% in the past day. At the time of press, the coin was valued at $32.46, with a market cap […] The post Litecoin [LTC] Technical Analysis: Token sides the bull to make a recovery appeared first on AMBCrypto.
In a recent Twitter thread, the co-founder and CEO of Coinbase recalls the story of building the platform and says Bitcoin is his first love