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Ethereum Price Analysis: Positive Developments in the Cards

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Ethereum
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The Ethereum blockchain, which went live on 30 July 2015, has evolved over the years to become one of the largest blockchain ecosystems in the market. Just like Bitcoin, Ethereum operates as an open-source, distributed digital platform built by several people across the globe, offering leading-edge blockchain solutions to investors. But unlike Bitcoin, which is powered by Proof of Work protocol, Ethereum provides a more adaptable and flexible solution, running on smart contracts.

With the crypto market booming with thousands of new currencies, the market has become exceedingly volatile, experiencing frequent price drops. The rapid rise of altcoins, along with the faltering state of the market, has challenged the ascendancy of big currencies like Ethereum. Looking at the market response of the past few months, ether has been in a constant flux, with the market receiving a boost in the form of new innovations. An inside look at the developments in the Ethereum network divulges some exciting upgrades on the blockchain. In case you are missing out on what’s up with this eminent blockchain platform, here’s a brief summary of the latest developments on the blockchain.

Buterin Announces Transition to Casper v2 

As per the Ethereum Core Devs Meeting held on June 15, Vitalik Buterin has revealed some important upgrades to Ethereum, which include Casper and sharding. The update rejects the proposed Casper FFG with Casper v2, which would serve as a beacon chain joined to the main system.  By separating the proof-of-stake (PoS) counterpart from the main chain, Ethereum would enable users to make their own voting rules alongside rules about adding or removing blocks. Subsequently, a sharding function will be activated on the beacon chain, which will run on the PoS consensus algorithm of Casper. Explaining the sharding process in the meeting, Buterin observed that the transition would be smooth “because basically, here, there would only be one validator set and only one way to get into the validator set – only one kind of validator – right from the start.”

Aventus Protocol Goes Live on Ethereum MainNet

Speaking of the latest developments on the blockchain, Aventus’ announcement of implementing Aventus Protocol onto the Ethereum MainNet has generated quite a noise in the crypto market. With the vision of transforming the live entertainment industry, Aventus aims to introduce secure modes of ticketing events. According to the reports, the enterprise anticipates putting an end to widespread problems of fake tickets and abnormally high resale prices by limiting resale prices and eliminating risks of duplicate tickets.

Coinbase Adds Support for Ethereum Testnets and Custom ERC-20 tokens

Toshi, the Ethereum-based digital platform operated by Coinbase, has added support for Ethereum Testnets and custom ERC-20 tokens. Following the integration of Ethereum Classic (ETC), the Coinbase team disclosed that one of the mid-term strategies of the company involves supporting ERC-20 tokens, including initial coin offering (ICO) tokens and independent blockchain projects. The Coinbase official report states: “We have previously announced our intention to support the ERC20 technical standard and Bitcoin forks. We will announce the intention to add specific assets within those categories prior to final engineering integration. This is consistent with our public process for adding new assets.”

Ethereum and the Market

With Bithumb hack generating shock waves across the boards, the aftermath of the event did not leave a long-lasting impact in the market, and much to the investors’ delight, the prices are creeping back gradually. As the total market capitalization is progressing towards $300 billion, all the top currencies are recovering their losses. This means Ethereum is also showing signs of a recovery.

Going by the price records of last 24 hours, Ethereum has witnessed a steady 3.6% rise, taking the value to $540. While it’s hard to determine whether the price has finally stabilized, positive price movements are on the cards, with the price charts showing signs of a further rise. The top-performing altcoins in the market, which are trading the green, are going strong. Interestingly, the only coin trading in double figures as of 21st July 2018 is Ethereum Classic. Available for trading at $541.34, ETH has moved up by 3.45% from its earlier position. With a market capitalisation of $54,246,332,457, Ethereum boasts a trading volume of $1,507,650,000 at the time of writing.

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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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Altcoins

Analyzing The Best-Performing Cryptos

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Over the nebulous first half of this year, some tiny cryptos were able to grow by more than 1000% and reach the desired top 100, while others that were already in the top 50 bastions simply zeroed. What factors led them to perform like this? Luck, external factors or well-made decisions?

First of all, it is important to clarify that it would be unwise to analyze them disregarding the market context (crypto and non-crypto) of the period, so we’re using a holistic approach.
In our timeframe, considering the traditional market cycle of emotions, in contrast to the standard chart below, the euphoria quadrant had a much larger peak and a much shorter duration, starting in the middle of 2017 and ending at the beginning of 2018, while we were stuck in the period of “excitement” since, maybe, 2015. The emotions in red passed in a rush and at the end of July, we were already in deep “despondency”.

Source: https://russellinvestments.com/ca/insights/the-market-cycle-of-emotions

Besides to the fact that the market completed half of the cycle in less than half a year, some very relevant things, besides the usual phenomena expected of an investment market, happened during this period. In addition to the hype the period enjoyed and the fact that bad, inexperienced investors were frantically joining the crypto market, we…

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Is Tether (USDT) really a stable coin?

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Tether
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Tether is one of the top digital assets in the crypto-sphere. The coin was launched in November 2014 after it changed its name from Realcoin so that the crypto community doesn’t associate it to the altcoins. It is important to know that Tether is a currency that helps to convert fiat currencies into digital currencies.

Moving forward, there have been lots of FUDs around Tether these days as regards to whether it is going to be a truly stable coin as the market has seen dips lately. Also, the FUDs around Tether have raised questions on whether there are any backings to the digital asset.

It is crucial to know that other factors have been attributed, and one of them was a report from last month that stated that Tether and Bitfinex, had gone their separate ways with Noble Bank. The separation made Bitfinex suspend fiat wire deposits – without no reason or whatsoever.

Tether, in regards to market worth, comprises about 92 percent of the market capitalization of stable coins. Also, this stable coin offers two purposes: to stabilize the volatility of Bitcoin, and also to preserve the amount of money purchasing power investors have at hand when the value of larger cryptocurrencies such as BTC drops.

The coin is a good alternative for traders when trying to cash-in on fiat currencies, as we do know that trying to move money from different exchanges to fiat…

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TRON Partnership Involves Cloud Computing

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TRON partnership
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It has been almost an entire week since Justin Sun, the founder of TRON (TRX), announced a new big partnership for this cryptocurrency. His Twitter announcement did not provide a lot of information, except for the fact that the TRON partnership is with an industry giant worth tens of billions of dollars.

Even so, the entire crypto community started speculating about the new partner’s identity. Soon after the announcement, a new rumor emerged, claiming that the identity of an unnamed corporation was uncovered. According to the rumor, TRON’s new partner is none other than Baidu, one of the largest tech giants of China, which also represents this country’s largest internet search provider.

Baidu is often viewed as China’s version of Google, and if the rumors of a partnership with this company turn out to be true, this will be a big game-changer for TRON.

However, in days following the announcement, new reports started coming in with claims that the partnership will not revolve around blockchain technology. Instead, ODaily reported that the alleged partnership between TRON and Baidu will be focused on cloud computing. The report claims that TRON will be purchasing computing resources from Baidu.

Baidu to…

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