XRP and Stellar (XLM) Updates: Will They Break through the Red?

XRP

Most of the cryptocurrency market is trading in the red this morning, but the movement is trending upwards, and coins are beginning to flip green. Stellar (XLM) is just at the cusp of making the transition to positive market gains, but XRP, the coin created by Ripple, is falling far behind.

Let’s take a closer look at the projects surrounding these cryptocurrencies and their latest movement.

XRP

Ripple and XRP are often confused with one another. Ripple Labs is a blockchain-based global fin-tech company seeking to aid financial institutions with their proprietary payment platforms. ...

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September Volume Report: Altcoins See Increase in Trade Activity

September Volume Report: Altcoins See Increase in Trade Activity

September saw all but three of the top twenty cryptocurrency markets post an increase in monthly trade volume. XRP pairings saw the strongest month-over-month volume gain, with 30-day volume tripling when compared with August.

Also Read: Markets Update: Crypto-Traders Patiently Wait for a Break Out 

BTC Stagnates, USDT and ETH Post Strongest Volume Since Q2

September Volume Report: Altcoins See Increase in Trade ActivityDespite relative stagnancy in monthly BTC trade volume, an increase in altcoin trade during September appears to have corresponded with an increase in USDT and ETH trading activity.

September saw approximately $124.3 billion USD worth of trade take place across all BTC pairings – comprising a meager 0.24% increase in trading activity over August’s $124 billion, and marking September as the second weakest month of trade for BTC pairings this year.

Trade volume for USDT pairings increased by almost 4.5% percent month-over-month – with $86.5 billion worth of USDT changing hands during September.

ETH pairings broke a multi-month trend of declining trade volume, with September’s $53.8 billion comprising a 17.6% increase over August’s $45.75 billion.

Monthly XRP Trade Volume Triples

September Volume Report: Altcoins See Increase in Trade ActivityXRP posted a dramatic increase in trade activity for September, disrupting the top rankings by volume to rank as the fourth most-traded cryptocurrency pairing after ranking seventh for four consecutive months. XRP pairings saw $24.7 billion worth of trade take place during September – a 216% increase over August’s $7.8 billion.

EOS was the fifth most traded cryptocurrency during September, with $20 billion in trade. Despite slipping down a place in the rankings, EOS posted a 10.5% increase in trade volume over August’s $18.1 billion.

Bitcoin Cash pairings produce $12.9 billion worth of trade during September, comprising a 26.5% increase in volume over August’s $10.2 billion.

LTC was the seventh most traded cryptocurrency during September – with $9.6 billion trade. The month saw a 34.5% increase in trade volume over August’s $7.14 billion and comprised the strongest month for LTC trade since May.

Monthly ETC Trade Volume Drops by One Third

September Volume Report: Altcoins See Increase in Trade ActivityDash has continued its steady climb up the top rankings – gaining one place for the second consecutive months since reclaiming its top ten position in July. During September, Dash was the eighth most traded cryptocurrency with nearly $6.5 billion in volume – a 23.5% increase over August’s $5.26 billion.

ETC has broken its four-month-long trend of increasing volume month-over-month after sliding to ninth with $5.1 billion in 30-day trade volume. Ethereum Classic was the only top ten cryptocurrency market to post a drop in month-over-month volume during September – posting 35.5% drop in volume compared with August’s $7.9 billion.

CKUSD climbed two places to rank in the top ten most traded cryptocurrencies for September with $4.07 billion in trade. September saw CKUSD post a 21% increase in volume over August’s $3.36 billion.

Most Top 20 Altcoins Post Volume Increase

September Volume Report: Altcoins See Increase in Trade ActivityQTUM moved one place up the rankings to eleventh during September after posting $3.64 billion in trade, despite volume dropping by 9% from August’s $4 billion.

TRX moved up one rank to twelfth for September with $3.52 billion in trade – a 2% gain over August’s $3.45 billion.

ZEC maintained its position at 13th after posting $3.36 billion in trade- a nearly 16% gain over last month’s $2.9 billion.

NEO moved up three places to rank fourteenth after producing $2.61 billion in 30-day volume – a 30% gain over the $1.83 billion in trade posted last month.

XLM has held its position at fifteenth for the third consecutive month after posting $2.3 billion in during September – an 18.5% gain over August’s $1.94 billion.

ADA has maintained its rank at sixteenth for the second month in a row. ADA posted $2.1 in trade volume during September – a 14.1% gain over last month’s $1.84 billion.on in trade – a 25% gain over August’s $1.615 billion.

ONT fell four positions to rank eighteenth this month. ONT posted $1.45 billion in monthly trade volume – a 38% drop from last August’s $2.34b.

BIX gained two positions to rank seventeenth during September after posting $2.02 billion in trade.

BTM appeared on the top twenty rankings during September after posting 1.34 billion in trade.

XMR ranked twentieth for volume this month, producing 1.05 billion in trading activity.

Do you think that volume in the altcoin markets will continue to increase? Share your thoughts in the comments section below!


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StellarX is Officially Launched but XLM Remains Red

StellarX launches

Today, StellarX launches! StellarX is the Stellar network-based zero-fee decentralized cryptocurrency exchange. The company behind the platform, Interstellar, announced the upcoming launch via a Medium blog post on September 28th. XLM has yet to be positively affected by the news.

StellarX Launches!

Previously, StellarX was open only to a number of individuals who signed up for its Beta testing, but it seems the team at Interstellar feels confident in their product thus far—confident enough to launch publically!

What makes the platform stand out from the rest is that it’s a totally free trading platform. ...

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A Review of the New Stellarx Decentralized Exchange

A Review of the New Stellarx Decentralized Exchange

This week, Stellar launched its long-awaited decentralized exchange. Stellarx offers trading of a range of assets including cryptocurrencies from multiple blockchains, using stellar lumens (XLM) as the base currency. The exchange differs significantly from existing decentralized offerings, which are limited to tokens pertaining to a single blockchain – usually Ethereum. With Stellarx, however, users can trade BCH, BTC, USD, ETH and much more, but there’s a catch: non-native assets are represented as ‘tethers’.

Also read: Launching a Website on the Bitcoin Cash Network Is Now a Reality

Does Stellar’s New DEX Have the X Factor?

A Review of the New Stellarx Decentralized ExchangeOn the face of it, Stellar is an odd cryptocurrency project to be championing decentralization. Founded by Jed McCaleb as a fork of his former project, Ripple, Stellar is in many respects as centralized as the coin its codebase derives from. Are We Decentralized Yet? scores Stellar’s XLM cryptocurrency low on various decentralization metrics, noting that the top 100 accounts hold 95% of the total supply, there is just one client codebase controlling nodes, and a mere 111 public nodes are operational. By any reckoning, that makes XLM a heavily centralized cryptocurrency, and yet in Stellarx, we have a candidate for one of the most innovative and user-friendly decentralized exchanges seen yet.

To all intents and purposes, Stellarx operates as a true DEX should: users retain sole custody of their funds, trades are executed against other users, and Stellarx has no access to funds. Throw in the ability to trade non-native crypto assets such as BTC and BCH, plus the option of making fiat currency deposits, and Stellarx starts to sound more like a centralized exchange than a bare bones DEX on a par with IDEX or Forkdelta. There are some caveats that come with trading non-native Stellar assets, which we’ll get to shortly, but straight off the bat, Stellarx is more feature-rich than any of its counterparts.

A Review of the New Stellarx Decentralized Exchange

Trade Anything, Anywhere

“Any asset that is created on the Stellar network may theoretically be displayed, no matter whether it would be considered a currency, commodity, security, utility token, or other type of asset under your local applicable laws and regulations,” notes Stellarx in its Ts & Cs. “You are responsible for determining the legality of your transactions.” With each trade, the counterparty sends tokens directly to your Stellar wallet and vice-versa, ensuring that there is no custodial risk incurred. They explain:

On Stellarx, you can go US Dollars to Bitcoin to Chinese Yuan to Mobius from a single wallet. That’s not possible anywhere else.

Upon visiting Stellarx for the first time, you’ll be prompted to sign up by submitting an email address and password. That’s the only verification you need to trade on the platform, which is pretty cool, as is the built-in password strength calculator:

A Review of the New Stellarx Decentralized Exchange

You’ll then be prompted to create a private key for the Stellar wallet that will be tied to your trading account and to make a note of the recovery phrase. At this stage, Stellarx bears many similarities to the Waves decentralized exchange. The trading interface you’ll next be shown, however, accompanied by a platform walk-through, is far slicker than anything that any rival DEX has produced to date.

A Review of the New Stellarx Decentralized Exchange

The first question that users navigating their way around Stellarx may have is how the exchange of cross-chain assets is made possible. This has hitherto been a tough nut to crack, with atomic swaps seen as the likeliest solution to what is a complex problem to solve in a trustless setting. Stellar’s solution is surprisingly simple: the majority of the assets it offers are ‘tethers’ i.e tokenized representations. They explain: “They’re tied to either fiat like USD or to cryptocurrency from other chains, like Bitcoin and Ethereum. You can trade tethers like any other token, but you can also exchange them for the asset they’re tied to.”

So when you buy bitcoin cash or ethereum on Stellarx, what you’re really buying is a Stellar-issued token that represents that crypto. (The Waves DEX does something similar with ethereum, which is tradable on Waves despite operating on a different blockchain). On Stellarx, tokens are listed as either “fiat tethers”, “crypto tethers” or “native tokens”, the latter being native to the Stellar blockchain.

A Review of the New Stellarx Decentralized Exchange
The Stellarx bitcoin cash marketplace

Zero Fees and Human-Readable Addresses

In addition to boasting zero trading fees, Stellarx offers human-readable wallet addresses that comprise the email address you signed up with followed by “*stellarx.com”. Users who’ve no desire to publicly disclose their email address can use a non-identifiable public key instead. Assets listed on Stellarx can be filtered by volume, price, name, issuer, and other variables. Before you can begin trading you’ll naturally need to deposit funds into your account. In addition to XLM, Stellarx accepts USD, implemented with the aid of Anchorusd.com. While KYC is required to use Anchor’s service, it’s nevertheless novel to see a DEX offer fiat deposits.

A Review of the New Stellarx Decentralized Exchange
For users who don’t hold XLM, Changelly will provide crypto exchange

When it comes to withdrawing funds, there are two options: select another Stellar address or choose an off-chain account. If you’re holding ‘tethered’ funds such as BTC or BCH, you’ll need to visit the website of the issuer who offered the asset. In the case of BTC, for example, that means visiting Naobtc and converting your Stellar BTC for real BTC, or with BCH it necessitates swapping tokens at Apay. Stellarx will soon support off-chain withdrawals in-app, making this process less convoluted. There’s still plenty of work to be done on improving the platform, adding more assets, and onboarding enough users to build sufficient liquidity. On early evidence, though, Stellarx has a lot going for it, forming a welcome addition to the decentralized exchange ecosystem.

What are your thoughts on Stellarx? Let us know in the comments section below.


Images courtesy of Stellarx.


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Cryptos in Red: After a Successful Last Week ETH, XLM and XRP are Down

Cryptos in red

Well is anyone truly surprised that last week’s crypto bull-run is over? There are cryptos in red today across the board. About 95% of the coinmarketcap.com’s top 100 list to be more precise, but we’re interested in the real losers. The top dog’s who are also today’s top losers, including Ethereum (ETH), Stellar (XLM), and Ripple (XRP).

Let’s check in with these cryptos in red.

Cryptos in Red: Ethereum (ETH)

Saturday saw Ethereum reach a high of $251.20. But it has been downhill from there. In the past 24-hours, ETH has made a further ...

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Markets Update: XRP Briefly Dethrones ETH as Second Largest Crypto

Markets Update: XRP Briefly Dethrones ETH as Second Largest Crypto

The cryptocurrency markets have produced a significant rally today – with just three of the top fifty crypto markets by capitalization posting losses for the last 24 hours of trade action as of this writing. The most notable gainer has been XRP – gaining over 50% in the last day to overtake ETH as the second largest cryptocurrency by market capitalization.

Also Read: China Updates Crypto Rankings, Downgrades Bitcoin

BTC Break Above Resistance at $6,500 USD

BTC has broken above the $6,500 resistance area, following roughly two weeks of sideways price action between approximately $6,000 and $6,500.

Markets Update: XRP Briefly Dethrones ETH as Second Largest Crypto

As of this writing, BTC is trading for approximately $6,700 after appearing to establish roughly $6,800 as local resistance when looking at intraday price action. BTC has gained roughly 4% in the last 24 hours.

Looking at the stochastic RSI on the weekly charts shows that momentum is coiling into an increasingly tightening mid-level range – suggesting that the markets may be primed for a strong move in either direction.

Markets Update: XRP Briefly Dethrones ETH as Second Largest Crypto
BTC/USD – StochRSI – Bitfinex – 1w

Bitcoin Core has a total capitalization of $115.7 billion and a market dominance 52%.

BCH Tests $500 Area

Bitcoin Cash gained roughly 12% in the last 24 hours – bouncing from approximately $430 to currently be trading for $483.

Markets Update: XRP Briefly Dethrones ETH as Second Largest Crypto
BCH/USD – Bitfinex – 4hr

BCH also gained nearly 7% over BTC today – rallying from 0.067 BTC to 0.0735 BTC, before retracing to the current price area of 0.072 BTC.

Markets Update: XRP Briefly Dethrones ETH as Second Largest Crypto
BCH/BTC – Bitfinex – 1d

The BCH/BTC rally appears to coincide with a bounce of the upper-side of the descending trend line that has guided price action since May. BCH currently has a market cap of $8.34 billion and a dominance of 3.75%.

Dramatic XRP Rally Elevates Ripple to Second Largest Crypto by Market Cap

XRP posted the largest gains of the top cryptocurrency markets – rallying by 100% before violently retracing to post daily gains of approximately 50% as of this writing. The markets quickly bounced from roughly $0.4 to $0.8, before retrace to the current $0.6 price area.

Markets Update: XRP Briefly Dethrones ETH as Second Largest Crypto
XRP/USD – Bitfinex – 4hr

XRP posted similarly impressive gains over BTC also – rallying 90% from 0.000062 BTC to test 0.000117, before retracing to the current price are of 0.0000875 BTC.

Markets Update: XRP Briefly Dethrones ETH as Second Largest Crypto
XRP/BTC – Bitfinex – 4hr

The dramatic XRP rally drove Ripple to overtake Ethereum to rank as the second largest cryptocurrency by capitalization for the third time in the last 18 months. Ripple currently has a market capitalization of $23.5 billion and a dominance of roughly 10.5%.

ETH Bumped Down to Third-Largest Crypto

Despite a slight slide Ethereum’s ranking by market cap, ETH also produced bullish price action today – gaining by over 10% in the 24 hours from $210 to currently be trading above $230 after breaking the descending trend line that has guided USD price action since May.

Markets Update: XRP Briefly Dethrones ETH as Second Largest Crypto
ETH/USD – Bitfinex – 1d

Looking at the ETH/BTC chart, it appears that Ethereum has broken out of the descending channel in which it has traded since mid-July – gaining almost 5% in the last day to currently be trading for approximately 0.036 BTC.

Markets Update: XRP Briefly Dethrones ETH as Second Largest Crypto
ETH/BTC – Bitfinex – 1d

Ethereum has a market capitalization of $23.3 billion and a dominance of roughly 10.5%.

Stellar and Cardano Also Post Double-Digit Gains for Today

XLM and ADA were the second and third strongest performing of the top ten crypto markets by capitalization today.

Stellar’s current price of $0.255 comprises a daily gain of 18.5%, however, similar to XRP, the markets XLM market produced a parabolic spike of 30% on the intraday charts before retracing to current price levels. Stellar is also trading for 0.00003835 BTC and has a market cap of $4.72 billion – making it the sixth-ranked cryptocurrency by capitalization.

Markets Update: XRP Briefly Dethrones ETH as Second Largest Crypto
ETH/USD – Kraken – 4hr

ADA gained 13% today – rallying from $0.076 to the current price area of roughly $0.086. Cardano is also trading for 0.00001300 BTC and is the ninth largest cryptocurrency with a market cap of roughly $2.19 billion.

Markets Update: XRP Briefly Dethrones ETH as Second Largest Crypto
ADA/USD – Bittrex – 4hr

Do you think XRP can hold its position as the second largest cryptocurrency market by capitalization? Or do you expect that ETH will quickly reclaim such? Tell us your thoughts in the comments section below!


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Markets Update: ETH Hits 14-Month Low Amid Heavy Altcoin Losses

Markets Update: ETH Hits 14-Month Low Amid Heavy Altcoin Losses

Many altcoins have posted significant losses in recent days, with ETH currently testing price levels not seen in over 12 months after losing 40% in roughly one week. The declining value of altcoins has also driven BTC to continue to establish new highs for market dominance during 2018.

Also Read: Chinese Report Finds 9 in 10 Altcoins to Have Stolen 80% of Their Code

BTC Gains Dominance

The heavy losses sustained by many leading altcoin markets have led BTC to continue to further its market dominance over other cryptocurrencies. As of this writing, BTC has a market dominance of 57.6% and is trading for roughly $6,300 USD.

Despite stable price action over recent days, BTC has shed approximately 16% in the last 8 days. BTC currently has a market capitalization of nearly $109 billion.

The number of BTC short positions is testing the all-time high level of roughly 38,000 for the second time in roughly one month.

BCH Hits New Low for 2018

Bitcoin Cash has experienced a bearish week or so of price action, losing approximately 30% in the last 8 days when measuring against the dollar. With prices currently hovering at the $420 area, BCH has established a new low for 2018 and is currently testing price areas not witnessed since late October 2017.

When measuring against BTC, BCH is trading for approximately, 0.067 BTC – a key support area dating back to the market’s inception a year ago.

 

BCH is currently the 4th ranked cryptocurrency market by capitalization with roughly $7.35 billion.

ETH Breaks Below $200

In the last 8 days, ETH has lost roughly 41% when measuring against the dollar. The drop plunged the price of ETH down to the $170 area – prices not seen since mid-July 2017.

Ethereum’s market dominance has dropped below 10% for the first time since December 8th, 2017, and March 2017 before then – with ETH currently comprising 9.6% of the total cryptocurrency market cap, according to Coinmarketcap.

When measuring against BTC, ETH is testing the support area of approximately 0.0275 BTC for the first time since December 2017.

Both ETH/USD Shorts and Longs Test All-Time Highs

As of this writing, the number of both ETH/USD shorts and longs are testing record highs on Bitfinex – with longs breaking into new all-time highs above the 350,000 area as of this writing, and shorts testing the 240,000 area for the second time in just a few days.

ETH/USD Longs – Bitfinex – 1D
ETH/USD Shorts – Bitfinex – 1D

ETH is the second largest cryptocurrency market with a capitalization of $17.76 billion.

Other Leading Altcoins Post Significant Losses

XRP dropped by 21% in 8 days to retest support at its 2018 low of approximately $0.26. XRP is the third-ranked market by capitalization with $10.43 billion.

XRP/BTC – Bitfinex – 1D

EOS is trading for approximately $4.85 after losing 25% in 8 days. EOS has now tested the roughly $5 area for several consecutive weeks. EOS is the fifth largest cryptocurrency by market cap with nearly $4.4 billion.

EOS/USD – Bitfinex – 1D

Stellar has posted the most modest losses among leading altcoins for the last 8 days – falling by roughly 16%. Stellar is the sixth largest crypto market with a capitalization of $3.65 billion.

STR/USD – Bitfinex – 1D

LTC set a new low for 2018 today, breaking below $50 for the first time in nearly 12 months. As of this writing, LTC is trading at $49 after shedding roughly 28% of its value in 8 days. LTC has the seventh largest cryptocurrency market cap with $2.87 billion.

LTC/USD – Bitfinex – 1D

ADA is the ninth largest cryptocurrency with a market cap of $1.65 billion. ADA posted the most violent losses of the leading altcoin markets this week, losing roughly 60% in 8 days. ADA is currently trading at a record price low of $0.064 USD.

ADA/USD – Bitfinex – 1D

XMR has fallen by 29% in the last 8 days and is currently testing support at the $100 area. XMR is the tenth largest cryptocurrency market with a capitalization of $1.62 billion.

XMR/USD – Bitfinex – 1D

Do you think we will continue to see bearish market action across the cryptocurrency markets in the short-term? Share your thoughts in the comments section below!


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Stellar (XLM) Embraced by Visa-Backed Blockchain Company

Stellar (XLM)

The Stellar Foundation is a non-profit blockchain project that built the Stellar network. The Stellar ecosystem holds the digital token Stellar (XLM), or Stellar lumens.

The for-profit subsidiary of the Stellar Foundation, Lightyear, purchased Chain for around $40 million. As part of the all-cash deal, all of Chain’s existing investors, such as Citi Ventures, Visa, and Nasdaq will all receive a return on their initial investment, Chain’s co-founder, Adam Ludwin, told Forbes.

“All of the clients that we have now have effectively shifted from using a traditional database model to using a tokens model, ...

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August 2018 Volume Rankings Report: ETC and Dash Top Ten

August 2018 Volume Rankings Report: ETC and DASH Top Ten

During August, the monthly volume posted by the majority of leading cryptocurrency markets continued to decline. Despite such, the ETC and Dash markets again defied the trend to post an increase in trade volume, with XRP also bucking the downward trend this month.

Also Read: 160 Crypto Exchanges Seek to Enter Japanese Market, Regulator Reveals

Top 5 Most Traded Cryptocurrency Markets Posts Month-Over-Month Decline in Volume

August 2018 Volume Rankings Report: ETC and DASH Top TenTrade volume for BTC pairings declined by 5.34% during August – falling from $131 billion USD last month to $124 billion during the last thirty days, according to Satoshi Pulse.

USDT saw the smallest volume fluctuation of the major cryptocurrency markets this month, with $82.9 billion worth of Tether changing hands during the last thirty days – a 3% drop in trading activity when compared with July.

ETH has maintained its position as the third most traded cryptocurrency, however, saw a drop from July’s $53 billion in thirty-day trade volume to post $45.75 billion for August. The nearly 14% drop marked the third consecutive month of declining volume for Ethereum.

EOS also posted its third consecutive month of declining volume, with August’s $18.1 billion down nearly 11.3% from July’s $20.4 billion.

Bitcoin Cash saw a drop in trading activity during August, dropping 31.3% from July’s $14.85 billion to post $10.2 billion in thirty-day volume.

ETC, XRP, and DASH Defy Downward Trend

August 2018 Volume Rankings Report: ETC and DASH Top TenOf the top ten most traded cryptocurrencies during August, ETC, XRP, and Dash were the only markets to post an increase in volume month-over-month.

Ethereum Classic climbed from eighth to sixth after experiencing an increase in thirty-day trading volume for the fourth month in a row – with August’s $7.9 billion comprising an approximately 18% increase over July’s $6.7 billion for ETC.

XRP has maintained its position as the 7th most traded cryptocurrency market, with August’s $7.8 billion comprising a 13% increase in trade volume over July’s $6.9 billion.

LTC experienced a slide back down to eighth after ranking sixth for two consecutive months after posting $7.14 billion in thirty-day trade volume – a 16.7% drop in trading activity when compared with July’s $8.57 billion.

Dash has continued to climb the rankings, with August’s $5.26 billion elevating Dash to ninth position and comprising a 5.2% month-over-month gain from the $5 billion in thirty that propelled DASH into the top ten most traded markets last month.

Despite posting a 9.1% drop in monthly trade volume, Qtum has crept back into the top ten most traded markets with $4 billion after dropping to 11th last month with $4.4 billion.

Many Leading Crypto Markets See Significant Volume Volatility

August 2018 Volume Rankings Report: ETC and DASH Top TenThe TRX Markets have continued to slide down the rankings, sitting at eleventh for August with $3.45 billion – a 36.7% drop from last month’s $5.45 billion. TRX was the sixth most traded cryptocurrency market during May, however, slid to ninth during June and July.

CKUSD has climbed from fourteenth to rank twelfth for August after posting $3.36 billion in monthly trade volume – a roughly 16% increase over July’s 2.9 billion.

ZEC posted among the strongest volume gains produced by a leading cryptocurrency market during August, with $2.9 billion worth of Zcash exchanging hands during the last thirty days – an approximately 35% increase over July’s $2.15 billion. ZEC ranked thirteenth for August, up from sixteenth last month.

Ontology saw the strongest percentage gain in trade volume of the leading crypto markets, with August’s $2.34 billion comprising a 41% increase over July’s $1.66 billion. The increase in trading activity has elevated ONT from the twentieth to the fourteenth most ranked cryptocurrency market by thirty-day trade volume.

XLM has maintained its position as the fifteenth most traded cryptocurrency, despite August’s $1.94 billion comprising a 15.65% drop from July’s $2.3 billion.

ADA and NEO Slide Significantly in Volume Rankings

August 2018 Volume Rankings Report: ETC and DASH Top TenADA saw a significant drop in trading activity during August, sliding from thirteenth in July to sixteenth this past month with $1.84 billion – a 40.65% drop from last month’s $3.1 billion.

NEO saw the largest drop in trade volume of the major cryptocurrency markets, sliding from twelfth to seventeenth after posting a thirty-day volume of $1.83 billion – a 46.2% drop from July’s $3.4 billion.

Do you think that the majority of the leading cryptocurrency markets will continue to posting declining volume month-over-month? Share your thoughts in the comments section below.


Images courtesy of Shutterstock


At Bitcoin.com there’s a bunch of free helpful services. For instance, have you seen our Tools page? You can even look up the exchange rate for a transaction in the past. Or calculate the value of your current holdings. Or create a paper wallet. And much more.

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Trader Gets Six-Figure Loan to Buy Crypto, Holdings Drop by 85%

Trader Gets Six-Figure Loan to Buy Crypto, Holdings Drop by 85%

An Abu Dhabi-based cryptocurrency investor has shared his story of having taken out a six-figure loan to finance virtual currency investments only to watch his portfolio lose 85 percent of its value. The investor has shared his story in the hope that it can serve as a lesson to others.

Also Read:High-Profile Thai Crypto Case: Bitcoiner Lost Over 5,500 BTC – Ringleader Fled to US 

Trader Takes Out Six-Figure Loan to Buy Crypto During December 2017

Trader Gets Six-Figure Loan to Buy Crypto, Holdings Drop by 85%Crypthomie, a Reddit user identifying as a 32-year-old male living in Abu Dhabi, recently posted a photo of his repayment schedule pertaining to a six-figure loan that he took out on the 18th of December, 2017.

The Redditor borrowed 338,000 dirhams (roughly $126,500 USD), with a total outstanding amount of 393,296.80 dirhams ($147,200 USD) including interest from Emirates Islamic Bank. The document outlines a repayment schedule of 8194 dirhams ($3067 USD) monthly until December 14, 2021.

The investor wrote: “Here is my bank installment related to the loan I took to invest in crypto. Still three-and-a-half years to go until I’m freed. Until then, I’m working for nothing and I’m at 85 per cent loss. I hope it gives you a lesson.”

Investor’s Portfolio Loses 85%

Trader Gets Six-Figure Loan to Buy Crypto, Holdings Drop by 85%Crypthomie stated that his cryptocurrency portfolio comprised NEO, XLM, ETH, and LTC, in addition to “some shitcoins that lost 95 per cent of their value already.”

Since the 18th of December, NEO has fallen 78% from $75 to the current price of $16.50, and over 91% from its mid-January highs.

XLM appears to have been the best performing of Crypthomie’s investments, dropping by 18% from $0.275 on the 18th of December to $0.225 today. However, XLM has lost 75% from its January high of $0.91.

ETH has fallen by over 60% from $725 on the 18th of December, and by 80% from its all-time high of $1,400 posted at the start of the year. LTC has lost 83% from its December 18 highs of $320 to currently be trading at roughly $55.

Loans Easily Available in the United Arab Emirates

Trader Gets Six-Figure Loan to Buy Crypto, Holdings Drop by 85%Crypthomie described the loan as comprising a “simple loan” that banks give out “almost instantly in UAE,” adding “You can get $100,000 within [a] few days [in] your account without much verification.”

“I’m 32 and it was my first speculative investment. I think it’s an age where we’re still unconscious and take [a] lot of risk[s] if we don’t have big responsibilities like a kid or bills to pay,” he said.

What is your response to Crypthomie’s story? Join the discussion in the comments section below!


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Stellar (XLM) and Coinbase Rumors Circulate—Facebook Talks with Stellar

Stellar news Stellar (XLM)

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EOS and Stellar (XLM) Progress—One Step at a Time

EOS

Most of the cryptocurrency market is in the red today, as Bitcoin (BTC) has just fallen below the $7,000 mark. But today, we’re focusing on EOS and Stellar (XLM), and their latest project updates and price.

EOS

The first EOS Global Hackathon took place in Hong Kong back in mid-June. There was a total of 80 teams that participated in the event from around the world, and $144,000 USD was awarded.

The second EOS Hackathon took place in Sydney, Australia over this weekend.

The moment you’ve been waiting for – congratulations to ...

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Markets Report: July Posts Second Strongest Monthly BTC Performance of 2018

Markets Report: July Posts Second Strongest Monthly BTC Performance for 2018

Looking at the monthly charts, July saw BTC produce its second best performing month of price action during 2018 after gaining in value by more than 20%. By contrast, the majority of leading cryptocurrency markets by capitalization posted their third consecutive red monthly candle. Stellar was the highest performing top crypto market during July, gaining roughly 45% over USD.

Also Read: Markets Update: Cryptocurrency Price Trends Turn from Bullish to Bearish 

BTC Gains 20% During July

In July, the BTC markets posted their second strongest performing month for 2018 so far. BTC gained approximately 21%, rallying from an opening price of roughly $6,400 USD at the start of the month to close at $7,730.

July saw a price action range of approximately 40%, bouncing from a low of roughly $6,100 on the 12th before posting a local top at $8,500 on the 24th. Despite the bullish price action, July’s monthly trade volume was the second lowest of 2018 thus far.

As of this writing, BTC has a market capitalization of $130.5 billion and is trading for approximately $7,610.

BCH Posts Modest Gains

The Bitcoin Cash markets produced a modest green candle for the month of July, gaining approximately 3.5% from roughly $750 at the start of the month before closing at around $775.

Despite the modest gain, BCH traded within a 35% range, with Bitcoin Cash testing support at roughly $660 on the 12th of July before ramping up to test resistance at $890 on the 18th. When measuring against BTC, BCH lost approximately 17%, with BCH/BTC starting the month at roughly 0.117 BTC before closing at 0.1 BTC.

As of this writing, Bitcoin Cash has the fourth largest market capitalization with nearly $13.2 billion and is trading for roughly $760.

Many Leading Altcoins Post Third Consecutive Monthly Red Candle Against USD

Ethereum posted its third consecutive red monthly candle for July after dropping by 5% from an opening price of roughly $455 to close at around $430. ETH traded within an approximately 19% range, with ETH/USD posting a low of $420 on the 12th of July before ramping up to test resistance at $515 on the 18th. The trade volume for ETH/USD during July was the lowest monthly volume posted this year thus far.

Ethereum also lost 22% of its value when measured against BTC in July, falling from an opening price of 0.071 BTC to close at roughly 0.055 BTC. Ethereum currently boasts the second largest cryptocurrency market cap of almost $43 billion and is trading for roughly $420.

The USD price of XRP fell for the third month in a row, by 7% from July’s opening price of $0.468 to close at $0.435. XRP traded within a roughly 19% range for the month, bouncing off a low of $0.425 on the 12th of July before rallying to test resistance at $0.525 on the 18th.

When measuring against BTC, XRP fell by roughly 23% from the month’s opening price of 0.0000732 BTC to close at 0.0000562 BTC. Monthly trading volume for both BTC and USD XRP pairing was the lowest of 2018 so far. XRP is currently the third largest market cap with $17.7 billion and is trading for $0.45.

EOS also posted its 3rd consecutive red monthly candle after falling by roughly 10% during July from an opening price of $8.11 to close at roughly $7.3. EOS traded within a 30% range after testing a low of $6.6 on the 12th before rallying to test resistance at $9.35 on the 18th of July.

When measuring against BTC, EOS fell by 25.5% from the month’s opening price of 0.001275 before closing at roughly 0.0095. EOS is currently the fifth largest market by capitalization with $6.6 billion and is trading for $7.33.

Stellar Gains 45% During July

Of the top cryptocurrency markets by capitalization, Stellar produced the strongest performance during July.

The Stellar markets gained roughly 45% from the month’s opening price of roughly $0.1935 before closing at $0.28. The total range for the month’s price action was more than 95%, with Stellar bouncing off $0.18 on the 12th of July before testing $0.35 on the 25th of July.

Stellar was the only leading altcoin to gain over BTC during July, gaining nearly 20% from 0.00003 BTC before losing at roughly 0.000036.

Poloniex – STR/BTC – 1M

The month’s bullish action has propelled Stellar to the position of sixth largest market capitalization with $5.17 billion. Stellar is trading for approximately $0.27 as of this writing.

Do you think that altcoins will continue to bleed out against BTC this coming month? Share your outlook in the comments section below!


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July 2018 Volume Rankings Report: BTC Extends Dominance

July 2018 Volume Rankings Report: BTC Extends Dominance

During July, the majority of leading cryptocurrency markets have produced stagnant or declining volume month-over-month. BTC, USDT, and DASH were the sole top ten markets able to buck the trend, with BTC’s trade volume notably increasing by 4.6%.

Also Read: Mining Round-Up: Sky Mining CEO Flees with $35 Million, Texas Attracts Miners

BTC Extends Lead Relative to Other Top Markets

July 2018 Volume Rankings Report: BTC Extends DominanceAs of this writing, more than $131 billion USD worth of trade has reportedly taken place on the BTC markets in the last 30 days. The trading activity has seen BTC extend its lead as the dominant cryptocurrency, with the combined trading volume of the other top ten most traded cryptocurrencies excluding USDT equating to roughly $121 billion.

The 30-day trade volume for the BTC markets has increased by 4.6% over June’s $125.5 billion. However, it is significantly lower than the $185 billion in trade recorded during May.

July also saw BTC extend its dominance by market capitalization – which grew from approximately 42.75% at the start of the month, to 47.5% as of this writing.

USDT Sees Highest Percentage Increase in Monthly Trade Volume for July

July 2018 Volume Rankings Report: BTC Extends DominanceOf the top traded cryptocurrencies for July, USDT showed the largest percentage increase in trade volume, gaining 11% over June’s $77 billion to post $85.5 worth of trades during the last 30 days.

ETH has held its position as the third most traded cryptocurrency token, producing roughly $53 in trade during July – which comprises a nearly one billion drop from June.

EOS has maintained its position as the fourth most traded cryptocurrency, however, also suffered the largest percentage drop in 30-day volume. EOS’ trade volume fell from $32 billion, posting a monthly volume of $20.4 billion – a 36% drop in total trading activity.

BCH Volume Grows Slightly

July 2018 Volume Rankings Report: BTC Extends DominanceBitcoin Cash trade volume increased slightly this month, gaining from $14.7 billion in June to $14.85 billion. BCH has continued to hold as the fifth most traded cryptocurrency markets.

Litecoin has held its position as the sixth most traded cryptocurrency for the second consecutive month, after having gained two positions during June. 30-day trade volume for LTC decreased by 7.8%, falling from $9.3 billion in June to $8.57 billion.

The seventh most traded cryptocurrency, XRP, also experienced a notable drop in volume – which fell by nearly 17% from $8.3 billion last month to $6.9 bn in the last 30 days.

Dash Breaks Into Top Ten Most Traded Cryptocurrencies

July 2018 Volume Rankings Report: BTC Extends DominanceFor the second consecutive month, 30-day volume for Ethereum Classic increased by $100 million month-over-month. ETC is the eighth most traded cryptocurrency with a monthly volume of $6.7 billion.

Tron has held onto the position of ninth most traded cryptocurrency after suffering a significant drop in volume between May and June. TRX posted $5.45 billion in trade for July, comprising a 9% drop from last month’s $6 billion.

DASH pushed into the top ten most traded cryptocurrencies during July, posting $5 billion in 30-day trade volume. DASH beat out QTUM – which despite gaining over 25% in volume month-over-month, sits at eleventh for July with $4.4 billion in trade volume.

12th to 20th Most Traded Cryptocurrencies Tightly Contested

July 2018 Volume Rankings Report: BTC Extends DominanceNEO ranked twelfth for July with nearly $3.4 billion in 30-day trade volume. ADA ranked thirteenth with almost $3.1 billion. CKUSD followed closely with $2.9 billion.

XLM ranked 15th with 2.3 billion in 30-day trade volume, followed by fellow Coinbase prospect ZEC with 2.15 billion. BTM ranked seventeenth with $2.1 billion, followed by MITH with roughly $2 billion, TRUE with $1.8 billion, and ONT with $1.66 billion.

Do you think BTC will continue to extend its dominance in trade volume relative to other cryptocurrencies in coming months? Share your thoughts in the comments section below!


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Largest Movie Theater Chain in Thailand Going Crypto

Largest Movie Theater Chain in Thailand Going Crypto

Thailand’s largest movie theater chain, Major Cineplex, is reportedly integrating crypto payments to allow customers to pay for its services and products with cryptocurrency, including movie tickets and popcorn. Thailand recently began regulating crypto businesses. This week, the Thai Securities and Exchange Commission started accepting license applications from crypto operators.

Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space

Largest Cinema Chain in Thailand to Accept Crypto

Largest Movie Theater Chain in Thailand Going CryptoThe largest operator of movie theaters in Thailand is building a digital payment ecosystem in the country through a partnership with Swiss payment company Rapidzpay, the Nation Multimedia recently reported.

Founded in December 1995, Major Cineplex currently lists 143 theaters throughout Thailand on its website, 43 of which are in the greater Bangkok area. The group owns “678 screens, including 7 in Cambodia and 9 in Laos, and plans to expand to 1,000 screens by 2020,” Forbes reported in May last year.

Among the group’s properties is Thailand’s largest multiplex, the Paragon Cineplex, with 16 screens, 5,000 seats, and an Imax theater. It is located in one of Bangkok’s most prestigious shopping malls, the Siam Paragon, known for its luxury goods, floors of restaurants, an aquarium, an art gallery, a large bowling alley, a karaoke center, and a concert hall. It was also at the Paragon Cineplex that Major Group and Rapidzpay signed their partnership agreement.

Largest Movie Theater Chain in Thailand Going Crypto
Rapidzpay iOS app.

Merchants can use Rapidz point-of-sale system to accept cryptocurrencies as well as fiat currencies, the Nation detailed. “Major and Rapidzpay will integrate cryptocurrency payments into established payment gateways to make payment for Major products and services more seamless, secure and efficient.”

While Major Group has not announced which cryptocurrencies will be accepted, the coins supported in both the iOS and Android Rapidzpay apps currently include BTC, BCH, and LTC.

Chanya Tamrongweenichai, the director of marketing at Major Cineplex Group, was quoted by the Nation saying the group believes “Rapidzpay will expand to our other businesses and lead the change for Thailand’s financial ecosystem to be cashless,” noting:

You’ll be able to buy any services and products from us, such as movie tickets, popcorn and other different products with cryptocurrency.

Thailand’s Crypto Regulation in Effect

Largest Movie Theater Chain in Thailand Going Crypto
Rapee Sucharitakul.

Thailand’s cryptocurrency regulation recently went into effect with the Thai Securities and Exchange Commission (SEC) as the primary regulator of crypto businesses. The SEC announced last month that it will allow seven cryptocurrencies to be traded at exchanges in the country: BTC, ETH, BCH, ETC, LTC, XRP, and XLM.

The SEC’s Secretary-General, Rapee Sucharitakul, was quoted explaining this week that “the SEC is (now) open for application approval for operating a digital asset business, as the Finance Ministry’s announcement on digital asset licenses has come into force,” the Nation further detailed:

Rapidzpay is targeting a million active users in Thailand within its first year by attracting both existing and new crypto-enthusiasts who are looking for a simple and convenient platform to convert between fiat and cryptocurrency.

What do you think of Major Group adding crypto payments? Let us know in the comments section below.


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Markets Update: BTC Gains 30% in Two Weeks, Alts Lose Correlation

Markets Update: BTC Gains 30% in 2 Weeks, Alts Lose Correlation

The BTC markets have gained approximately 30% in two weeks, with prices currently sitting at $8,300 USD after roughly 48 hours of consolidation above $8,000. After producing gains against the dollar, many other leading cryptocurrency markets have continued to produce inverse correlation when measured against BTC.

Also Read: Japanese Crypto Exchanges Working on Lowering Margin Trading Limits

BTC Consolidates Above $8,000

The price of Bitcoin Core (BTC) has gained roughly 30% in the last two weeks following the strongest fortnight of trading since April. Ten of the last thirteen days have produced red candles, with prices rising from approximately $6,200 to $8,200 as of this writing. The last two weeks of trading have also produced a notable spike in daily volume, with the 24th of July producing the highest trade volume for BTC/USD on Bitfinex since the 25th of April.

BTC/USD – Bitfinex – 1D

With the markets appearing to have established an immediate bull channel, many analysts are expecting that FOMO leading up to the United States Securities and Exchange Commission’s determinations regarding Chicago Board Options Exchange (CBOE)’s proposed bitcoin exchange-traded fund may drive the BTC markets to test resistance at approximately $10,000. Should the immediate trend fail, the markets will likely drop to retest the local support areas of either $7,500 or $6,800.

BTC currently has a market capitalization of $142 billion and a market dominance of nearly 47%.

BCH Gains Over 25% in Two Weeks

Bitcoin Cash has also enjoyed a bullish fortnight of price action, with the BCH markets gaining approximately 28% since testing support at roughly $660 on the 12th of July. Since then, the BCH/USD markets appear to have begun to form an ascending triangle formation – with current prices sitting at approximately $830 on Bitfinex.

BCH/USD – Bitfinex – 1W

Despite the gains against the dollar, BCH/BTC has continued to lose value against BTC, with the BCH/BTC markets continuing to follow the descending channel that has guided price action since May. Since the start of June, Bitcoin Cash has lost roughly 30% against BTC – falling from 0.15 BTC to the current levels just above 0.1 BTC.

BCH/BTC – Bitfinex – 1W

As of this writing, the BCH/BTC markets appear to be testing both the ascending and descending trendlines comprising a symmetrical triangle formation that has guided price action from the markets’ inception 12 months ago. BCH is the fourth largest cryptocurrency market with a total capitalization of roughly $14.6 billion and a market dominance of nearly 5%.

ETH Suffers Losses Against BTC

By contrast, the second largest cryptocurrency by market capitalization, Ethereum, has gained just 10% over the last ten days, rising from approximately $435 to $475 as of this writing. So far, the long-term ascending trendline on the ETH/USD chart dating back to May last year has continued to hold up.

ETH/USD – Bitfinex – 1W

Between the 15th and 18th of July, Ethereum gained 15% in three days, rallying to test support above $500. The markets immediately gave back most of the gains, retracing by 10% over the next three days before consolidating. On the 24th of July, ETH rallied by 7% over the dollar.

ETH/USD – Bitfinex – 1D

When measuring against BTC, Ethereum has lost 18.5% in the last two weeks, falling from 0.708 BTC to roughly 0.058. The market capitalization of ETH is $48.6 billion. Ethereum has a market dominance of 16%.

ETH/BTC – Bitfinex – 1W

XRP and EOS Channel Sideways

The price of XRP, the third-ranked cryptocurrency by market cap, has consolidated within a roughly 20% range over the last 30 days, with fiat prices fluctuating between approximately $0.43 and $0.52 since the last week of June. As of this writing, XRP is trading for $0.46.

ETH/USD – Bitfinex – 1W

When measuring against BTC, the XRP markets have produced an eighth consecutive red candle after falling from approximately 0.00009 BTC in the last week of April to roughly 0.0000565 as of this writing. Over the course of the last two weeks, XRP/BTC lost approximately 20% to break into new lows for 2018. The market capitalization of XRP is $18.25 billion, and the market dominance is 6%.

ETH/BTC – Bitfinex – 1W

The fifth largest crypto market by capitalization, EOS, has produced comparable price action to XRP in recent weeks, consolidating within a nearly 30% range over the course of the last five weeks when measuring against the dollar. As of this writing, EOS is trading for $8.6 after gaining 15% in two weeks following a bounce from the third point of contact with a major ascending trendline dating back to November 2017.

EOS/USD – Bitfinex – 1W

When measuring against BTC, seven of the last eight weekly candles produced by the EOS/BTC markets have been red, with EOS having lost nearly 45% in two months, falling from over 0.00185 BTC at the start of June to roughly 0.00105 BTC as of this writing. EOS has a market cap of $7.865 billion and a market dominance of 2.6%.

EOS/BTC – Bitfinex – 1W

Stellar Bucks Trend, Gains Over BTC

Of the top ten cryptocurrency markets by market capitalization, Stellar has been the sole market that has posted consistent gains over BTC in recent weeks. Stellar has gained roughly 28% during the last two and a half weeks, rallying from approximately 0.000031 to nearly 0.0004 as of this writing.

STR/BTC – Poloniex – 1W

When measuring against USD, Stellar is up 45% in the last ten days rallying from $0.22 to $0.32. In the last 30 days, Stellar has gained nearly 70% from roughly $0.19 on the 25th of June.

STR/USD – Poloniex – 1W

Stellar is the sixth largest cryptocurrency by market cap with a capitalization of $6.3 billion and a market dominance of over 2%.

Do you think that the altcoin markets will continue to shed correlation with BTC? Share your thoughts in the comments section below!


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The Daily: Anti-Crypto Politician Backed by Payments Firm, Grayscale Raised $250m in H1

The Daily: Anti Crypto Politician Backed by Payments Firm, Grayscale Raised $250m in H1

In today’s edition of Bitcoin in Brief we cover an American anti-crypto politician who is financially backed by a legacy payments firm, a positive change of leadership at Goldman Sachs, Grayscale’s performance during first half of 2018 and much more.

Also Read: Mastercard Patents a Method to Manage Cryptocurrency “Fractional Reserves”

He Who Pays the Piper Calls the Tune

The Daily: Anti Crypto Politician Backed by Payments Firm, Grayscale Raised $250m in H1Whenever you hear politicians talk about something and it sounds like they don’t have a clue about it, it’s important to remember that they may have a vested interest in misunderstanding it that way. An example of this came as US Representative Brad Sherman (Democrat-California) blasted cryptocurrencies at a House Financial Services Committee hearing entitled “The Future of Money: Digital Currency” on Wednesday.

“We should prohibit U.S. persons from buying or mining cryptocurrencies,” Rep. Sherman proclaimed. “Mining alone uses electricity which takes away from other needs and-or adds to the carbon footprint. As a store, as a medium of exchange, cryptocurrency accomplishes nothing except facilitating narcotics trafficking, terrorism, and tax evasion.”

And indeed members of the crypto community where quick to point out on social media and forums that, according to Opensecrets.org, his top financial contributor for 2017-2018 is Allied Wallet. This company is an online payments processor offering credit card, ACH and other legacy services that stand to lose out once wider cryptocurrency adoption makes them redundant.

DJ D-Sol Takes the Helm at Goldman

The Goldman Sachs Group, Inc. (NYSE: GS) has announced that Lloyd C. Blankfein will retire as Chairman and CEO on September 30, 2018, and that the Board of Directors has appointed David M. Solomon to succeed him in both roles. The move caught the interest of cryptocurrency investors as, while Blankfein was more hesitant, Solomon is considered to be open to trading the new instruments. “We are clearing some futures around bitcoin, talking about doing some other activities there, but it’s going very cautiously,” Solomon said in an interview on Bloomberg TV last month. “We’re listening to our clients and trying to help our clients as they’re exploring those things too.” Goldman Sachs must “evolve its business and adapt to the environment,” he explained.

On a side note, Solomon is also known for moonlighting as a DJ at exclusive parties around the world. Yes, really.

Great to get some time on the decks at #theEMAwards.

A post shared by D-Sol (@djdsolmusic) on

Grayscale Raised $250m in H1 2018

Grayscale Investments, the wholly-owned subsidiary of Digital Currency Group which offers trusts for BTC, BCH, ETH, ETS, XRP, ZEC, and LTC, has released a report that analyzes the activity across its product range during the first half of 2018. The figures show that the company raised almost $250 million ($248.4 million) in its investment products, making it the strongest fundraising six-month period since Grayscale launched its first product in September 2013. The company also notes that institutional investors accounted for 56% of all new investment dollars into Grayscale products, a pronounced increase in allocations to the asset class despite a broad-based price reduction across digital currencies during 2018.

The Daily: Anti Crypto Politician Backed by Payments Firm, Grayscale Raised $250m in H1

Coinbase Not Approved for Securities After All?

Earlier this week Coinbase claimed that the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) had approved its takeover of Keystone Capital, Venovate Marketplace, and Digital Wealth, the three entities that Coinbase sought for their securities licenses. Now the company appears to be walking back from these statements.

“It is not correct to say that the SEC and FINRA approved Coinbase’s purchase of Keystone because SEC was not involved in the approval process,” Coinbase spokeswoman Rachael Horwitz told Bloomberg. “The SEC’s approval is not required for the change of control application,” Horwitz claimed. “Coinbase has discussed aspects of its proposed operations, including the acquisition of the Keystone Entity, on an informal basis with several members of SEC staff.”

Stellar Sharia

The Daily: Anti Crypto Politician Backed by Payments Firm, Grayscale Raised $250m in H1The Stellar Development Foundation has announced a couple of days ago that it obtained a Sharia compliance certification for the network from the Shariyah Review Bureau (SRB), an international Sharia advisory agency licensed by the Central Bank of Bahrain. The foundation hopes that this certification will help grow the Stellar ecosystem in regions where financial services require compliance with Islamic financing principles. Whether or not many potential crypto investors were really waiting for a token with a Sharia-compliant sign of approval, the move certainly didn’t hurt Stellar as XLM is now worth over 50% more than just a week ago.

What do you think about today’s news tidbits? Share your thoughts in the comments section below.


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Stellar (XLM) & Cardano (ADA) Lead the Crypto Market – Project Updates & Big Gains

Stellar(XLM) Cardano(ADA)

Stellar (XLM) & Cardano (ADA) – The total cryptocurrency market is booming this morning, as various crypto-positive news reports have given investors more confidence in the future of the cryptocurrency industry and market.

Source: CoinMarketCap

Wells Fargo and Bank of America announced this morning that both banks have applied for new blockchain and crypto related patents. Mastercard has even filed a new patent for consumer protection and payment transactions, using blockchain technology.

Due to all this crypto-positive news, mostly all coins in the top 100 are in the green, and ...

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Stellar (XLM) and Cardano (ADA) Among Five Coins Coinbase is Considering

Coinbase updating coins

Coinbase updating coins: Three days ago the largest cryptocurrency exchange operating in the United States announced that it is exploring five new cryptocurrencies to add to its platform, including Stellar (XLM) and Cardano (ADA).

Today we are announcing that we’re exploring the addition of the following assets to Coinbase: Cardano (ADA), Basic Attention Token (BAT), Stellar Lumens (XLM), Zcash (ZEC) and 0x (ZRX). https://t.co/qoECyR0V1f

— Coinbase (@coinbase) July 13, 2018

Coinbase Updating Coins? Stellar (XLM) and Cardano (ADA) Take Center Stage

Is Coinbase updating coins? In the company’s Medium Post, Coinbase announced ...

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Markets Update: HODLers Pray for Higher Lows, Prospective Coinbase Listings Rally

Markets Update: HODLers Pray for Higher Lows, Prospective Coinbase Listings Rally

The BTC markets are currently attempting to establish a higher low above $6000 after failing to break above resistance at $6800 at the end of June, whilst BCH appears to have bounced off the critical support area of $600 – $650 for the second time in 2018. In recent altcoin market action, Cardano (ADA), Basic Attention Token (BAT), Stellar Lumens (XLM), Zcash (ZEC), and 0x (ZRX) have produced gains of roughly between 10% and 20% after Coinbase confirmed on the 14th of June that it is currently “exploring” listing said markets.

Also Read: Australian Bank Bans Use of Mortgage Funds for Crypto Speculation 

BTC Rangebound Between $5800 and $6800

Since gaining 18% from the 29th of June low of approximately $5800 to the local high of roughly $6840 on the 7th of July, the BTC markets have retraced by over 8% during the last seven days – with current prices hovering at approximately $6250.

Market sentiment is mixed, with price action currently testing a key support level on the daily charts after failing to break above the significant resistance area of approximately $6800, however, appearing to produce what could turn into an inverse head and shoulders formation – should support at $6200 hold, thus producing a higher low.

Looking at the stochastic RSI, one can see that both the 1-week, 1-day, and 12-hour charts appear heavily oversold – with the stoch RSI below the 20 threshold, whilst the 3-day chart is showing a retrace from a test of the 80 threshold.

BCH Markets Retrace Heavily in Recent Weeks

As of this writing, the BCH markets are sitting at approximately $700 after testing the critical support area of roughly $650 earlier this week.

Looking at the weekly charts, the markets have produced three weeks of sideways consolidatory action after losing nearly 60% of its value over the course of the preceding seven weeks.

When measuring against BTC, Bitcoin Cash currently appears to be forming a green doji candle after five consecutive weeks of downward momentum. As of this writing, BCH is trading for roughly 0.1125 BTC

Coinbase Considers Adding Five New Cryptocurrencies

Major exchange and cryptocurrency unicorn, Coinbase, has published a blog post announcing that it is currently “exploring the addition of several new assets” – specifically Cardano (ADA), Basic Attention Token (BAT), Stellar Lumens (XLM), Zcash (ZEC), and 0x (ZRX). The news produced sharp bullish momentum across the aforementioned markets – with the fiat-value of said cryptocurrencies all posting quick gains of between roughly 10% and 20%.

The company states that it “will be working with local banks and regulators to add them in as many jurisdictions as possible,” adding that “Unlike the ongoing process of adding Ethereum Classic, which is technically very similar to Ethereum, these assets will require additional exploratory work and we cannot guarantee they will be listed for trading.”

The exchange claims to have announced the new prospective listings “internally at Coinbase and to the public at the same time,” emphasizing its intention to “remain transparent with [its] customers about support for future assets.”

Coinbase also notes that its “listing process may result in some of these assets being listed solely for customers to buy and sell, without the ability to send or receive using a local wallet,” elaborating that “We may also only enable certain ways to interact with these assets through our site, such as supporting only deposits and withdrawals from transparent Zcash addresses.”

Markets React to News of Prospective Listings

Despite Coinbase emphasizing that it “cannot commit to when or whether these assets will become available at this time,” the announcement of the prospective listings caused sudden bullish surges of over 9.5% across each of the cryptocurrency markets in question. Whilst each market currently appears to be consolidating, it is not yet clear as to whether the upward moves will evolve into meaningful longer-term rallies, or fail to produce anything more than short-term spikes.

The seventh-ranked cryptocurrency by market capitalization, Stellar, quickly gained 9.5% from approximately $0.1847 to $0.2023 in less than two and a half hours. When measuring against BTC, the markets gained from 2794 satoshis to 3244 satoshis. As of this writing, Stellar has a market capitalization of $3.76 billion, and is trading for $0.2 and 3209 satoshis.

Stellar, Coinmarketcap, Jul 8th – Jul 15th

Cardano, the eighth largest cryptocurrency by market cap ($3.5 billion), enjoyed a sudden gain of 11.5% from roughly $0.1265 to $0.1411 following Coinbase’s announcement. When measuring against BTC, the markets gained from 2036 satoshis to 2270 satoshis in just half an hour. ADA is now consolidating at approximately $0.1363 and 2185 satoshis.

Cardano, Coinmarketcap, Jul 8th – Jul 15th

Zcash, the twenty-first largest cryptocurrency with a market capitalization of $754.5 million, gained 17.5% from $157.5 to 185.1 and from roughly 0.02536 BTC to 0.02977 BTC in half an hour following the news of the possible Coinbase listing. As of this writing, ZEC is trading for approximately $173.4 and 0.02774.

Zcash, Coinmarketcap, Jul 8th – Jul 15th

0x, the twenty-fifth largest cryptocurrency by market capitalization ($521 million), responded with 15% bounce from approximately $0.87 to $1.00 and 0.0001395 BTC to 0.0001614 BTC over the course of two hours. ZRX is now trading for roughly $0.974 and 0.00015 BTC.

0x, Coinmarketcap, Jul 8th – Jul 15th

Basic Attention Token, the thirty-seventh largest cryptocurrency market with a total capitalization of $334.3 million, produced the strongest bounce of the markets confirmed to be in consideration for a Coinbase listing. BAT gained 19.3% from roughly $0.2777 to $0.3314 and 4464 satoshis to 5335 satoshis over the course of one and half hours, before producing a secondary high of $0.3403 and 5466 satoshis three hours later.

Basic Attention Token, Coinmarketcap, Jul 8th – Jul 15th

Which markets do you think Coinbase will list? Join the discussion in the comments section below!


Images courtesy of Shutterstock, Trading View, Coinmarketcap


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