The Crypto Market Just Fell to a New 2018 Low

Bitcoin sank to its lowest price in over a year on Wednesday, with the prices of other major cryptocurrencies falling alongside it. As of press time, bitcoin is trading at $5,525.92 – a more than 12 percent decline on the day – in the latest sign that volatility around the world’s largest cryptocurrency by market capitalization has returned with a vengeance. Indeed, bitcoin’s collective market cap dropped below the $100 billion level for the first time since November 12 of last year, according to CoinDesk’s Crypto-Economics Explorer (CEX). In the past 12-hours…

Tokens Continue to Drop, is SEC Preparing to go After Crypto Projects?

Twitter Facebook LinkedIn The price of Bitcoin has dropped by 10 percent over the last 24 hours following a severe sell-off. Yet, several low market cap crypto and tokens have plunged by twice that amount, posting losses in the range of 20 percent. ERC20 tokens launched on top of the Ethereum blockchain network have performed especially poorly against both Bitcoin and the US dollar over the past several days. Waltonchain, Lisk, ICON, Ontology, Golem, VeChain, WanChain, and many other tokens backed by active developer and investor communities declined substantially in…

Two Chains No More: Kik Selects Stellar Over Ethereum for Crypto Token Launch

Messenger app maker Kik is quitting ethereum for good as it continues to develop its cryptocurrency, dubbed kin. Launched on ethereum early in the ICO boom, Kik has now announced that it will close kin’s atomic swap with ethereum. Without specifying a date, the Kin Ecosystem Foundation said Wednesday that it would soon release a tool for kin holdings off of ethereum. Kik’s token has had several homes in its short life. The company raised just shy of $100 million in crypto during a September 2017 initial coin offering. By November,…

Crypto Market Loses over $8 Billion in Market-Wide Selloff, Intense Downtrend

Today is a tough day for cryptocurrencies. A large-scale selloff action has erased over $8 billion off the crypto market. The total market capitalization is $205 billion at the press time, down from $213 billion from yesterday. The market has a record of recovering from anywhere near $186 billion, which could be called the crypto bottom level of this year. The monthly perspective also shows a stable recovery from circa $200 billion, according to data available at CoinMarketCap.com. Source: CoinMarketCap.com | Global Crypto Market Cap A rebound at this point…

Bitcoin Price Charts ‘Death Cross’ In First Since 2014

Bitcoin’s (BTC) price woes may not be over just yet, as a key technical indicator is about to turn bearish for the first time in four years. On the three-day chart, the 50-candle simple moving average (SMA) looks set to cut the 200-candle SMA from above, confirming what is popularly known as the “death cross.” This specific bearish crossover was last seen in December 2014. The onset of a death cross can be a warning that a bear market is looming, according to technical theory. In reality, however, it is…

Bitcoin Price Watch: BTC/USD Remains Sell On Rallies Near 100 SMA

Key Points Bitcoin price declined further and traded below the $6,275 support level against the US Dollar. There are two bearish trend lines formed with resistance at $6,300 and $6,340 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price remains at a risk of more losses below the $6,250 support in the near term. Bitcoin price is placed in a bearish zone against the US Dollar. BTC/USD could recover, but upsides are likely to be capped around the $6,340 level. Bitcoin Price Analysis During the…

Australia’s Science Agency & Commonwealth Bank Trial Blockchain ‘Smart Money’

Twitter Facebook LinkedIn A trial conducted by the Commonwealth Bank of Australia and the Data61 unit of the Commonwealth Scientific and Industrial Research Organisation (CSIRO) has proven that blockchain-powered smart money possesses immense social and economic benefits for Australia’s insurance scheme for persons living with disabilities. In the proof of concept, it was demonstrated that participants in Australia’s National Disability Insurance Scheme (NDIS) benefited from increased choice and control using the smart money that they accessed via a prototype app. Not only were administrative costs reduced but the risk of…

Ripple Price Analysis: XRP/USD Sellers In Control Below $0.5200

Key Highlights Ripple price declined recently and tested the $0.5000 support area against the US dollar. There is a major bearish trend line in place with resistance at $0.5120 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair is currently under pressure below the $0.5120 and $0.5200 resistance levels. Ripple price is struggling to gain bullish momentum against the US Dollar and Bitcoin. XRP/USD may continue to consolidate below $0.5200 for the next few sessions. Ripple Price Analysis After testing the $0.5200 resistance, ripple price…

$3 Billion Deleted From Crypto Market as Big Digital Assets Perform Poorly

Twitter Facebook LinkedIn Over the last 24 hours, the crypto market has seen a drop of $3 billion from $212 billion to $209 billion, as major cryptocurrencies including Stellar (XLM) and Cardano (ADA) have fallen by 3 to 6 percent. Peculiarly, Stellar and Cardano are amongst three cryptocurrencies alongside Zcash that are expected to be integrated into Coinbase, the world’s fourth-largest fiat-to-crypto exchange behind Bitfinex, Bithumb, and Upbit. Why are Stellar and Cardano Falling? Prior to their listing, Basic Attention Token (BAT) and 0x (ZRX) recorded gains in the range…

Cardano Price Analysis: ADA/USD Could Extend Declines To $0.072

Key Highlights ADA price failed to stay above the $0.0760 support and extended losses against the US Dollar (tethered). There was a break below a key bullish trend line with support at $0.0760 on the hourly chart of the ADA/USD pair (data feed via Bittrex). The pair may perhaps continue to move down towards the $0.0730 or $0.0720 support. Cardano price is slowly moving lower against the US Dollar and Bitcoin. ADA/USD could accelerate declines towards the $0.0720 support in the near term. Cardano Price Analysis Recently, cardano price settled…