Ethereum and EOS communities have been in a state of war for quite some months now. Both are decentralized App creating platform free for usage by all blockchain developers around the world. Ethereum and EOS aim to resolve the scalability issues associated with the dApp platforms making it easier to create and utilize dApps and gain more transactions. But during such a bearish market situation, both projects have been struggling to gain the upper hand and shoot for recovery balancing their respective price index.
Price Analysis: (at 6.00 UTC)
- High: 436.70
- Low: 433.00
- MACD: Placed in the Sell Zone
- RSI: 51.78
Ethereum has been trading under the downtrend for a long time but as indicated by the chart above, it is clear that a bullish divergence has formed. Below are the key highlights of the price analysis:
- The relative strength index is indicating that ETH would soon climb until the oscillator hits the overbought levels like the stochastic levels have reached and then return back down.
- The bullish formation of divergence gives traders a hope for a potentially strong rally in the near future.
- If Bitcoin continues on its path towards destruction, the downtrend is more likely to return than to reverse.
Price Analysis: (at 6.00 UTC)
- High: 7.15
- Low: 7.05
- MACD: Placed in the Sell Zone
- RSI: 57.86
Here are the key highlights about EOS price analysis:
- EOS sure touched the June lows a while back but now it is faintly heading towards a U-turn as bulls have made a strong support line. As per the charts, the EOS/USD has added a little more than 2% within the past 24 hours.
- EOS has been moving higher slowly yet consistently. It has jumped over the resistance level of $7.10. Experts believe there are chances that EOS might set next resistance level around $7.65. After that, it’s up to buyers to succeed there and take the pair even higher.
Current Market Position of ETH and EOS
Ethereum and EOS are undoubtedly two of the most famous blockchain projects on the global cryptocurrency markets. As per the data on Coinmarketcap, Ethereum and EOS are currently ranked as the 2nd and 5th largest cryptocurrencies in the world. Having amassed a total market capitalization of approx $44.08 billion, Ethereum is leading the way for all other Altcoins. Ethereum is being traded for $437.92 and an approximate of $1.56 billion worth of ETH has exchanged hands within the past 24 hours.
EOS whose markets have been suffering from a downfall for quite some time is behind ETH right now with a market capitalization of around $6.41 billion. The figure is close to $664 million for EOS for past 24 hours and its price is currently going up at 3.73% and reaching $7.16.
All the negative market updates and hack incidents of well-known exchanges and wallets have brought most altcoins to their knees. Most part of the gains acquired during the bullish breakout has already been lost. But there’s still hope for Ethereum after it was not named as a security by the SEC and EOS could do better if it resolves its centralization issues.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
Image courtesy of Pexels
Charts courtesy of tradingview.com
XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange
Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //
Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.
Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.
The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.
NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.
NFTs are already being actively traded in markets globally. For…
Should Crypto Projects Devote Resources to Community Growth and Marketing?
2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for. While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory. When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion. But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.
I mention both of the above projects as they have each taken slightly different paths to achieve greatness. Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion. Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special. Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.
Cryptocurrency vs. Blockchain Technology
It’s important to make a distinction between blockchain technology and cryptocurrency. Although they are often used interchangeably, they are different. Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…
XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata
Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //
The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.
As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021.
“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.
He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”
Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”
Mr. Yamagata has been…