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Ethereum continues to decouple from Bitcoin (but in a bad way)

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As the day continues, things are not looking good for the second largest cryptocurrency in the market. Ether, the silver of the pseudo gold represented by Bitcoin, has been experiencing dramatic changes in the last couple of months that even though have not been enough to move the coin to lower positions in the charts, still represent a huge change compared to the value that the crypto had back at the beginning of the year.

In this sense, it is worth to mention that according to CoinDesk the crypto has had a decrease of 90 percent compared to the value it had in January, and only today, we have seen a reduction of the 4.48% with respect to the last 24 hours, a fact that logically has many of us feeling concerned.

Ethereum has landed to the mark of $174 against the USD, and even though we are used to watching dramatics up and downs for the coins when it comes to being aligned with Bitcoin (BTC), Ether was not that apart.

However, the story is different this time, as even with the volatility of the sector Bitcoin is showing a decrease of 9% in the last 30 days, while Ether, on the other hand, shows an almost 30% of the decrease in the same period. So what’s exactly going on? As it seems, two major problems are affecting the coin. Let’s talk about them.

Ethereum’s co-founder comments on the future of blockchain

One of the things that may have been reflecting on the performance of Ether is the recent comments that Vitalik Buterin, co-founder of Ethereum, made in relation to the blockchain and what he conceives is going on right now.

Vitalik gave a declaration to Bloomberg News in which he states that the highly fruitful times for the crypto world are finally getting to an end.

He said:

“There isn’t an opportunity for yet another 1,000-times growth in anything in the space anymore,” so what we need to acknowledge is that “the blockchain space is getting to the point where there’s a ceiling in sight.”

Of course, as it was to be expected a declaration of this kind was not going to pass unnoticed by the community. The real question here is, how does a company expect to make their clients believe in their products while one of their most important members is preaching the end of the niche for that specific product?

The Ethereum co-founder went on to cover up his remarks but that hasn’t done any good yet though.

We can not be sure if whether or not these declarations are influencing the price, but for sure there are high chances that people are selling their Ether holdings because of this.

ICO’s are gone as well

Ethereum has been pretty much adopted because of the platform that it provides. In this sense, Ethereum has given the cryptocurrency world the opportunity to build projects on its network. So we can all agree with the fact that Ethereum is more of a store of value than another thing, is the big computer in which all of the projects are being created, or at least, a place where the project was being created.

During last year, Initial Coin Offerings (ICOs) had an incredible boom that benefitted Ether in a great measure. However, ICOs are not being deployed anymore, especially when the Securities and Exchange Commission (SEC) clarified that even when Ethereum is not a security itself, many of the projects built on their network had security features.

Regarding this, the CEO of CoinFi, Timothy Tam, expressed:

“Retail investors were completely euphoric a few months ago. Now, that emotion has flipped, and they’re panicking,” we can all be sure that “shorts are going to ride that wave.”

Furthermore, one of the reasons why the market is acting as such is because of the pressure that short-sellers are putting in.

In this sense, according to CoinFi’s team data from their platform shows how multi-million dollar bets are being made against ether’s all-time high, and this for sure is going to have a repercussion on the price. Do you think Ethereum will manage to survive the recent conditions? Will it get by side of Bitcoin when it comes to market resistance, again? We all wish to, but in the meantime, let’s stay tuned.

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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.

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The Crucial Role of Cryptocurrencies & Blockchain in Modernising The Telco Industry

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Blockchain has caused quite a stir in recent years. In fact, there’s a school of thought that firmly believes the digital ledger technology will prove to be the 21st Century’s biggest innovation

There are a great many industries braced for the disruptive force of blockchain, and the sweeping benefits it can bring to telecommunications can’t be underestimated. 

A blockchain is a decentralised, distributed, public digital ledger that’s fundamentally used to record transactions online. Every transaction that takes place is recorded across an extensive array of computers in a way that ensures that any individual record within the chain can’t be tampered with or retroactively modified. 

Because of the virtually impregnable security associated with blockchain and the efficiency that comes with a fully decentralised ledger, there’s plenty of potential for the technology within the telco industry in particular – especially given the financial flexibility that comes with cryptocurrency transactions beyond borders. 

Let’s take a deeper look at the important role that both blockchain and its associated cryptocurrencies can play in modernising and securing the telco industry:

Unprecedented security

The arrival of blockchain is causing a stir at Deloitte. The professional services giant has contributed tens of thousands of words on blockchain within its ‘insights’ network, and there are…

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Can Libra help the crypto industry to reach new heights?

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Libra is motivated and determined to change the face of payment procedures across the globe and make the blockchain-based project the leaders of payments.
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The market for cryptocurrencies started with the launch of Bitcoin in 2009, and since then, so many cryptocurrencies have been launched that it gets hard to keep track of them. The crypto market has seen massive growth in the past 3-4 years as it started gaining attention from mass media, which helped in this boom.

From the past 2-3 years, several new cryptocurrency projects were launching in the market. Amid all this, the social media giant – Facebook announced the launch of their cryptocurrency platform, and this news got viral like wildfire. The announcement came forward in June, and the upcoming cryptocurrency is known as Libra, and it’ll come with its dedicated wallet called Calibra.

What is Libra?

Libra is a permissioned blockchain-based digital currency which is being developed under the supervision of Facebook’s vice president, David A. Marcus. The cryptocurrency is under development in partnership with an independent, non-profit member Libra Association. Facebook is the second member of the project, and these companies aim to use Facebook’s user base for the promotion of the digital currency when it is launched. The transactions and the cryptocurrency will be managed and cryptographically entrusted by the Libra Association.

Note: Libra Association was established by Facebook to look after the cryptocurrency and the transactions, and it was founded in Geneva, Switzerland.

The development of…

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Why Blockchain Projects Keep Failing

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If you’ve been keeping up with news coming out of the blockchain community over the past year, you’ve probably heard countless projects hyped as the next best thing—only for them to fall off completely off the map a few months later. While some of these projects offered no practical solutions and seemed destined to fail, others creatively used blockchain technology to enhance the way we perform day-to-day tasks.

So, What’s the Problem?

For starters, many of these founders have no real experience running a business or managing finances. Instead, teams are usually comprised of programmers and tech geeks with the ability to develop blockchain-driven apps, but have no clue about project management, allocating resources, effective team building or marketing.

What’s more, when you look at the average blockchain start-up’s website, you’ll probably find a list of team members with accolades a mile long. And many of these “achievements” are in similar blockchain projects that have yet to take off. This makes it hard to distinguish between what is hype and what is credible information, which scares off all but the high-risk investor.

Project Success Starts at the Team Level

The sudden interest in cryptocurrency and blockchain technology can be compared to the California Gold Rush. Everyone wants to get in on the ground floor so that they can make as much money as possible.

Unfortunately, this mentality isn’t just…

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