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Litecoin price moves to $63.5, rise ahead?

The Litecoin price line moved past the $63.5 mark on the 20th of August. Solldy is a crypto analyst on Trading View who is of the opinion that the LTC price will rise towards the $90 mark. 1-Day Litecoin price analysis Litecoin price chart by Trading View The cryptocurrency had fallen to a day’s low […]

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The Litecoin price line moved past the $63.5 mark on the 20th of August. Solldy is a crypto analyst on Trading View who is of the opinion that the LTC price will rise towards the $90 mark.

1-Day Litecoin price analysis

Litecoin price chart 1 - 20 August

Litecoin price chart by Trading View

The cryptocurrency had fallen to a day’s low of $61.09 near 08:30 GMT. At the time of writing, Litecoin traded at $63.49 US Dollars.

The Relative Strength Index (RSI) was observed at a day’s low of 16.49 near 03:00 GMT. This means that the cryptocurrency was oversold at that instance. At the time of writing, the RSI was observed at 47.12.

What next for Litecoin’s price?

The Trading View analyst Solldy believes that the LTCUSD trading pair will rise past the $88 level in the long-term trade. The crypto analyst drew their technical analysis of the cryptocurrency on its 6-Hour chart.

Litecoin price chart 2 - 20 AugustLitecoin price chart 2 - 20 August

Litecoin price chart by Trading View

The analyst highlighted an ascending parallel channel for the LTCUSD pair ever the March 2020. The cryptocurrency fell towards the $40 level in the start of July, after which it returned to the parallel channel. Litecoin tested the resistance of the ascending parallel channel previously, although this time, the price made its way past the upper boundary of the trading channel.

The horizontal resistance zone lies near the $63.5 level and the the cryptocurrency is currently testing it. Once the LTC price moves past the resistance level, it will be able to turn bullish and rise towards the $90 mark.

Disclaimer: The information provided is not trading advice but an informative analysis of the price movement. Cryptopolitan.com holds no liability towards any investments based on the information provided on this page.

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95% of Ripple’s customers are not from the US, CEO Garglinghouse says

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As Ripple reportedly prepares to relocate its headquarters outside of the United States, it turns out that only 5% of the company’s clients are based in the country, according to the firm’s CEO.

On Dec. 2, Ripple CEO Brad Garlinghouse sat for an interview with CNN anchor Julia Chatterley to discuss Ripple’s regulatory hurdles in operating in the U.S.

According to Garlinghouse, as much as 95% of the San Francisco-based company’s customers are located abroad. He claimed that Ripple’s services are not as popular in the U.S. due to the ongoing regulatory uncertainty around its associate token XRP, Garlinghouse said:

“95% of our customers are non-U.S. customers, and only about 5% are here in the U.S. And people say ‘why you are a U.S. company’ and ‘why is that?’ One of the dynamics is that U.S. companies are waiting for the clarity, and that clarity emanates from the Securities and Exchange Commission.”

Garlinghouse noted that the SEC recognized other major cryptocurrencies like Bitcoin (BTC) and Ether (ETH) as non-securities years ago. However, XRP, the fourth-largest cryptocurrency by market capitalization, still does not have that clarity:

“For us, around XRP and over 100 companies that are working with XRP getting that clarity, it’s very clear to me that XRP is being used by many companies as a currency. You had the U.S. Department of Justice refer to XRP as a currency, you had FinCEN refer to XRP as a currency. But you haven’t yet had that clarity from the SEC.”

According to Garlinghouse, Ripple has had some issues with U.S. customers concerned about the regulatory status of Ripple’s XRP-related offerings.

“Oftentimes when I’m speaking to customers talking to them about our product that uses XRP in the payment flows, they will ask me about regulatory dynamics, and we have had customers saying ‘look until there’s clarity and regulatory frameworks we’re going to hold off,’” the CEO said, adding, “Now that has not been the case because of the clarity and the certainty” in other countries like the U.K.” 

Previous comments by Garlinghouse would suggest that Ripple is gunning for the SEC to treat XRP much the same as it has Bitcoin or Ether i.e. by not classifying it as as security. Last month, he said “it’s very hard to look at XRP as a security,” stating that he is “not aware of any market globally that thinks that XRP is a security.”

Source: https://cointelegraph.com/news/95-of-ripple-s-customers-are-not-from-the-us-ceo-garglinghouse-says

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Ampleforth Goes Multichain with New TRON and Polkadot Partnerships

As decentralized finance moves across chains, the Ampleforth Foundation has announced that AMPL will expand beyond Ethereum with three new blockchain integrations; TRON, Polkadot, and NEAR. Ampleforth has attempted to ‘reinvent money’ through its native token, AMPL, which has been designed to be used as DeFi collateral and as an alternative base-money for the crypto-economy. … Continued

The post Ampleforth Goes Multichain with New TRON and Polkadot Partnerships appeared first on BeInCrypto.

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As decentralized finance moves across chains, the Ampleforth Foundation has announced that AMPL will expand beyond Ethereum with three new blockchain integrations; TRON, Polkadot, and NEAR.

Ampleforth has attempted to ‘reinvent money’ through its native token, AMPL, which has been designed to be used as DeFi collateral and as an alternative base-money for the crypto-economy. It has created a flexible currency that can accommodate both inflation and deflation.

AMPL is a digital currency that can be used to denominate stable contracts due to its elastic supply policy. Unlike Tether, DAI, USDC, and other stablecoins, it does not rely on centralized collateral.

Recognizing that not all of DeFi takes place on Ethereum now (though the majority of it still does), Ampleforth has moved toward its original goal of a multichain protocol;

Ampleforth Onboards TRON, Polkadot, and NEAR

TRON founder Justin Sun stated that the TRON ecosystem is ‘obsessed’ with cutting-edge DeFi assets and capabilities, and excited about the integration with Ampleforth, adding;

“We expect deep liquidity pools to form early on in order to support widespread use for trading and collateral as soon as possible.”

TRON has yet to feature much in this year’s DeFi boom with Ethereum remaining at its roots. Decentralized application usage has increased for the network but it remains a rather bizarre ecosystem in terms of DeFi.

TRON Justin Sun TRX

Polkadot is another so-called ‘Ethereum killer’ that has yet to live up to its reputation. Yes, it has a much faster throughput, but very few appear to be actually using it. Jack Platts, the co-founder of Hypersphere Ventures, a Polkadot-focused venture firm, was optimistic about the new partnership;

“Ampleforth becoming the first chain-independent pure money is the type of big thinking and daring experimentation we look for in projects.”

NEAR, on the other hand, is a relatively unknown open-source decentralized application development platform with a focus on DeFi and cross-chain compatibility. Its role in the partnership will be in dApp development and building scalable solutions for the sector.

AMPL Price Update

Ampleforth’s native AMPL token trading slightly down on the day at $1.64, but over the past week, it has performed solidly with a 20% increase in price.

AMPL prices hit their peak in mid-July when they topped $3.80. Since then markets have contracted by around 60% to current levels. However, just like many DeFi-related tokens, markets are in recovery at the moment.

TRX prices have remained mostly flat on the day, trading for $0.031 while DOT has fallen slightly to $5.41.

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Martin Young

Martin has been writing on cyber security and infotech for two decades. He has previous trading experience and has been actively covering the blockchain and crypto industry since 2017.

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Source: https://beincrypto.com/ampleforth-goes-multichain-with-new-tron-and-polkadot-partnerships/

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ABEY Chief Scientist Highlights the Future Of Crypto At Future Blockchain Summit Dubai

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When Bitcoin ballooned to $20,000 the last time around, the network became so congested, slow transactions put a damper on the excitement surrounding the cryptocurrency industry, and the hype and the valuations it drove all came crashing down.

A similar situation happened over the summer with Ethereum, where gas fees for using the smart contract platform became outrageously expensive due to how congested the network was. And with Bitcoin embarking on a bull run again any day now, there’s a chance the cryptocurrency is destined for the same fate considering how few advances in speed or cost savings have rolled out since the last peak.

The solution to the ongoing throughput problems plaguing crypto will soon be the focus of a speech at the upcoming Future Blockchain Summit in Dubai. Here’s everything you need to know about the ABEY token, why it is taking the mainstream crypto market by storm, and why Dr. Ciprian Pungila’s speech is a can’t miss upcoming moment in the blockchain industry.

Scaling Problems From Last Crypto Peak Remain, But Change Is Here

Bitcoin and other popular cryptocurrencies are driven by speculation, and while there is no denying the technology has incredible potential and how powerful the implications of blockchain can be, the current transactions per second these massive cryptocurrency networks can handle is tiny compared to giants like VISA and Mastercard.

So if Bitcoin and Ethereum are slow, clunky, and can’t scale well, the chances of them actually unseating the current finance crown wearers are slim-to-none. It has since turned even the Bitcoin crowd toward the store of value narrative, and the user base has chosen to ignore its use as a business and e-commerce solution for the future.

It has left these cryptocurrencies vulnerable to becoming the next MySpace in the world of Facebook and Twitter. However, a solution to the problems plaguing these top assets could soon be widely known, as the ABEY token picks up in price and momentum, and just as the token’s co-founder Dr. Ciprian Pungila takes the stage at the Future Blockchain Summit in Dubai on December 6 through 9.

Dr. Ciprian Pungila To Present ABEY Roadmap, Review Key Blockchain Breakthroughs

The ABEY Foundation co-founder and chief scientist will lead a speech outlining the future of finance: ABEY – a business-scale blockchain solution with unique and rare features in the crypto world.

ABEY Research associate Alexe Spataru will support Dr. Ciprian Pungila to deliver a presentation outlining the most important features that help set ABEY apart from the likes of Bitcoin and Ethereum. There, an updated roadmap for the token and the self-sustaining ecosystem will also be a significant focus of the speech.

ABEY is an innovative token for the crypto industry, able to process thousands of transactions per second, on par, and even beating out major centralized payments companies. And unlike most cryptocurrencies, ABEY allows for refunds – a first for the crypto market, making it even more ideal for the massive, global e-commerce industry.

Fundamentally, ABEY is showing rapid adoption and proliferation of user wallets, already reaching a milestone of 100,000 unique wallets. Early adopters recognizing ABEY’s potential have helped grow the token’s value organically from the first mining price of $0.001 per abey.org. Also, be sure to check out Dr. Ciprian Pungila’s groundbreaking presentation regarding the future of the crypto industry coming up this weekend from December 6 through 9.

Source: https://www.newsbtc.com/news/company/abey-chief-scientist-highlights-the-future-of-crypto-at-future-blockchain-summit-dubai/

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