At the time of writing, all the top-20 ranked crypto coins were sporting a bearish trend. The only exception being Ethereum Classic, ETC/USD pair (as of 6th July 2018). The movement of ETC/USD, over past 72 hours, ETC has surpassed two major moving averages, the 55-day and 100-day moving average, and is continuing on the upward trend.
Ethereum Classic (ETC) is Going Up!
Analysis of Price
- High: $17.646 USD
- Low: $17.305 USD
- Major Resistance Level: $17.500 USD
- Hourly MACD: Placed heavily in the Bullish Zone
As can be observed from the chart, at the time of writing, ETC/USD pair was sporting $17.646 USD (2.02%). The low, at the time of writing, shows $17.305 USD. If observed from the month of March, the price action of the said pair had been showing largely a bearish trend, like most other cryptocurrencies at that time. The Q1 of 2018 had seen massive bearish trends due to hacks of some cryptocurrency exchanges like Coincheck, and regulations brought in by several countries.
The CoinRail hack (occurred on 10th June) shows a sharp drop from low $14.922 USD on 9th June to low $12.731 USD on 10th June. The effect could also be observed among other top-ranked cryptocurrencies.
The green candles are indicating a buy momentum and the trend may follow for some time. The price may go down if there is news about another crypto exchange hack or if weaknesses are discovered by the investigative firms. Currently, the investigative firms are constantly keeping an eye on the exchanges, how they administrate, protect data, and handle any potential threats.
Coming back to the charts, the ETC/USD pair can currently be showing an uptrend as Coinbase has already announced that Ethereum Classic is going to be on the list. The listing is bound to generate some interest among the crypto enthusiasts and investors. Thus, one can expect it to have a major impact on the price action of the pair. As of now, as it is still uncertain when the listing will go live, the speculations are generating a little interest and pushing it towards Buy. The trend may continue if all goes well. Ethereum Classic is certainly exposed to volatility as the price of the pair continues to move around the 17.500 mark.
What is to be observed at the moment is whether the ETC/USD pair will break the 18.000 level and move closer to the $20 USD. From current observations, the price movement of ETC/USD is sporting the green quite strongly.
For the latest cryptocurrency news, join our Telegram!
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…