The current rankings for Ethereum and EOS are 2nd and 5th according to CoinMarketCap. Ethereum individual price is suffering a 6.67% low and currently being exchanged at $437 approximately whereas EOS is stuck at 8.85% low being traded at $6.95 at the time of writing.
Global crypto markets have been going through a hard time since world economists predicted harsh government regulations knocking out BTC once and for all. This has influenced top 5 altcoins in the crypto space, including Ethereum and EOS which are both suffering from a bearish trend at the time of writing.
The key highlights from Ethereum analysis are as follows;
- ETH can’t seem to move away from the inevitable bearish trends surrounding it. The support area against US Dollar is placed close to $425 for now and experts believe if the present situation persists we might observe a heavier decline in ETH market prices.
- As for the Ethereum price resistance, yesterday charts for ETH show that there had been some heavy losses. Ethereum attempted to go above $500 mark but Bancor hack dealt a heavy blow on Bitcoin recovery and also weakened Ethereum’s momentum.
- It’s evident that Ethereum is gaining a downtrend traction which would soon be testing Fibonacci extension levels. Current high is close to $438 and while current low is hovering around $435.76. The hourly MACD is placed in the sell region as the daily MACD indicators show a strong sell sentiment traversing all over the market. The RSI has reached 40 and it is expected to shoot up to 60 should the markets manage to acquire a 1-2% uptrend today.
EOS is still under transition to its mainnet and is being scrutinized for its vulnerable security and centralized approach to fixing its flaws. Its key highlights are as follows;
- The daily high for EOS is around $7.47 whereas the daily low at the time of writing is $6.85. Yesterday EOS markets opened at approximately $8.22 and closed at $7.44 after suffering heavy losses because Bancor reported exploitation of $12.5 million worth of BNT.
- The relative strength index for EOS has reached to 36 and the MACD is stuck under sell region for the past few hours. The reason for EOS having been hit so hard is due to BlockOne’s passing negative statements which has been confirming their centralized behavior for quite some time. Traders are waiting for EOS to fail opportunities of breakout and hit $4.
- The current EOS market trends have proven itself beneficial to the dApp developers who mean to take advantage of the low prices and utilize the blockchain to their advantage. As per the charts, it is easy to tell that the relative strength index is going down to suggest a stronger sell zone as the MACD is also placed in the slightly strong sell region.
A faint but positive surrounding the markets have confirmed that Bitcoin adoption as a payment method would be boosted within the next decade according to mainstream media. But it will take time for the ETH and EOS markets to recover from the current situations.
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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…
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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%.
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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.”
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