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Ripple Believes The US Will Lose The Tech War With China: Report

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Ripple believes that the United States will lose the technology war with China if the regulators don’t create clear laws in the crypto sector as we reading more in the upcoming Ripple XRP news.

Ripple encourages the governments across the world to create better regulations in the crypto sector as the company criticized the lack of legal framework, negligence in determining which assets are securities and the regulatory ambiguity. In a recent publication, the General Counsel of the payment solution company Stu Alderoty, criticized the US position towards the entire crypto industry. He raised one of the main issues for the industry in the US which is the lack of clear legal framework.

chinese arbiter, china, bitcoin, ban, regulation

Ripple’s General Counsel said that the work that some US authorities did for the good of their consumers such as the Office of the Comptroller of the currency is one of the few things that are taken into consideration. The entity allowed the banks to hold on cryptocurrencies which were seen as a huge step towards their adoption. However, Alderoty said that the United States has been negligent in terms of regulation as there are no predictable scenarios that allow a company to know what the consequences of the actions will be if they use crypto, and this is an innovation killer.

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In that regard, Ripple believes that the US will lose the technology war with China as Alderoty criticized the Securities and Exchange Commission for not giving clear answers on which assets are considered securities. With the exception of ETH and BTC which are already classified as commodities, the regulator has an ambiguous policy for the rest:

“ The answer to that question matters significantly. Complex and burdensome securities regulations, when incorrectly applied, smother industry innovation. Imagine imposing laws meant for the transfer of Apple stock to your purchase and sale of an iPhone or, worse, to every text sent or received on your iPhone.”

btc mining map
Source: https://twitter.com/CambridgeAltFin/status/1257978983578206212

Ripple’s CEO believes that the lack of diligence in responding to the securities issued in the crypto space and the status of ETH and BTC which put the country at a disadvantage against China. With the Subsidies that the Chinese governments give to the miners connected to the networks, the mining pools get millions. Alderoty, therefore, claims that China controls 65% of Bitcoin’s mining and most of the ETH mining. He added:

“ (The US loses technological “Cold War” with China) that is exactly what the U.S. is allowing to happen. Ceding this innovation to Communist China raises national economic and security concerns.”

DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at [email protected]

Source: https://www.dcforecasts.com/ripple-news/ripple-believes-the-us-will-lose-the-tech-war-with-china-report/

Blockchain

Curve Finance Price Prediction: CRV DeFi Dominance Surges As Breakdown To $1 Beckons

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  • Curve Finance total value of funds locked rise by more than 33% in the last 24 hours to $1
  • 26 billion.
  • CRV/USD awaits a technical breakdown to $1.0, especially if the triangle support caves in.

Curve Finance (CRV) is currently the third-largest decentralized finance (DeFi) token in the cryptocurrency industry by the amount of funds locked in the network. Interestingly, the last 24 hours were particularly yielding for CRV as it added over 33% to the total value of locked funds. At the moment, investors have locked $1.26 billion in the project. CRV trails Aave, which currently has $1.32 billion in locked funds. UniSwap has continued to hit new highs with the value locked rising to $1.94 billion, hence holding tightly in the first spot.

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Despite the attention Curve Finance is getting in terms of uptake in the decentralized ecosystem, the token’s value has continued to dwindle. CRV commenced trading on Binance mid-August. Following the support on the largest cryptocurrency exchange in the world, the token rallied to $25. Unfortunately, the spike to all-time highs was short-lived, with CRV embarking on a gains-trimming exercise.

The downtrend has been unstoppable as various support levels have been rendered unhelpful. CRV tested levels below $2.0 while the upside is limited under a descending trendline. At the time of writing, CRV is doddering at $1.34 amid a bearish building trend.

CRV/USD 4-hour chart

CRV/USD price chart by Tradingview

The 21 Simple Moving Average caps the token’s immediate upside. Curve Finance is also trading within a descending triangle, commonly interpreted as a continuation pattern in technical analysis. They signal that an asset is bound to continue with the previous trend (in this case, downtrend) on breaking a certain level (triangle support). Therefore, if CRV extends the leg below the triangle support, there is a chance the price will test the $1.0 level before recovery comes into the picture.

All technical indicators illustrate a growing bearish momentum, including the Relative Strength Index. The 21 SMA is also under the 50 SMA, somehow suggesting bears will remain in control a while longer.

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Curve Finance Intraday Levels

Spot rate: $1.34

Relative change: -0.017

Percentage change: -1.4%

Trend: Bearish

Volatility: Expanding

Read more: 3 Reasons Why DeFi May Have Reached Its Peak


To get the daily price analysis, Follow us on TradingView

Author: John Isige




John is a talented writer with over two years of experience actively contributing to the cryptocurrency industry by providing credible, interesting and easy to read the content. His main focus is on cryptocurrency price analysis and industry news coverage. Lets follow him on Twitter at @jjisige

Source: https://coingape.com/curve-finance-price-prediction-crv-defi-dominance-surges-as-breakdown-to-1-beckons/

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Blockchain

Kraken Daily Market Report for September 20 2020

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Overview


  • Total trading at $125.5 million. Trading volume up slightly from the Sunday average as Ethereum and other coins had losses of few percentage points.
  • A little after 21:00 UTC, there was a system maintenance for a few minutes.
  • he only coin that had a positive day was Augur +4.0%. Otherwise, even the stable coins had minor losses. Kusama, Curve DAO, Balancer, and StorJ – four of the newer coins to the platform, had 5-10% losses.

September 20, 2020 
 $125.5M traded across all markets today
 Crypto, EUR, USD, JPY, CAD, GBP, CHF, AUD 
XBT 
$10915. 
↓1.5% 
$58.0M
ETH 
$370.61 
↓3.7% 
$29.1M
USDT 
$0.9999 
↓0.01% 
$11.7M
LINK 
$9.7370 
↓3.8% 
$6.5M
DOT 
$4.6639 
↓5.2% 
$5.35M
XTZ 
$2.2170 
↓4.4% 
$3.18M
XRP 
$0.2464 
↓1.7% 
$1.93M
ADA 
$0.0893 
↓2.2% 
$1.84M
USDC 
$1.0001 
↑0.0% 
$1.57M
LTC 
$47.065 
↓2.9% 
$1.55M
BCH 
$225.90 
↓3.1% 
$1.53M
ALGO 
$0.3273 
↓4.2% 
$978K
ATOM 
$4.6586 
↓5.8% 
$818K
TRX 
$0.0269 
↓2.8% 
$801K
OXT 
$0.2749 
↓5.1% 
$800K
XMR 
$92.685 
↓1.9% 
$764K
CRV 
$1.3599 
↓8.4% 
$639K
OMG 
$2.8933 
↓5.6% 
$468K
XLM 
$0.0768 
↓2.1% 
$445K
ETC 
$6.0722 
↓1.6% 
$442K
DAI 
$1.0107 
↓0.04% 
$410K
KAVA 
$2.4526 
↓1.0% 
$401K
REP 
$15.741 
↑4.0% 
$387K
WAVES 
$2.4299 
↓4.3% 
$322K
BAT 
$0.2372 
↓2.2% 
$292K
DASH 
$70.701 
↓2.9% 
$292K
QTUM 
$2.5190 
↓4.3% 
$278K
ICX 
$0.4582 
↓1.6% 
$271K
KNC 
$1.0085 
↓4.7% 
$256K
PAXG 
$1958.8 
↓0.15% 
$226K
EOS 
$2.6700 
↓1.1% 
$214K
COMP 
$144.55 
↓4.8% 
$166K
MLN 
$32.999 
↓2.7% 
$157K
ZEC 
$57.529 
↓0.7% 
$140K
KSM 
$39.179 
↓9.0% 
$135K
SC 
$0.0029 
↓2.1% 
$129K
BAL 
$17.75 
↓4.9% 
$126K
NANO 
$0.7980 
↓5.1% 
$115K
SNX 
$4.1994 
↓4.4% 
$108K
GNO 
$53.950 
↓4.5% 
$74.9K
STORJ 
$0.4079 
↓6.4% 
$66.5K
XDG 
$0.0027 
↓0.6% 
$48.8K
LSK 
$1.3404 
↓4.5% 
$32.9K
REPV2 
$14.569 
↓3.5% 
$5.85K



#####################. Trading Volume by Asset. ##########################################

Trading Volume by Asset


The figures below break down the trading volume of the largest, mid-size, and smallest assets. Cryptos are in purple, fiats are in blue. For each asset, the chart contains the daily trading volume in USD, and the percentage of the total trading volume. The percentages for fiats and cryptos are treated separately, so that they both add up to 100%.

Figure 1: Largest trading assets: trading volume (measured in USD) and its percentage of the total trading volume (September 20 2020)



Figure 2: Mid-size trading assets: (measured in USD) (September 20 2020)



Figure 3: Smallest trading assets: (measured in USD) (September 20 2020)



#####################. Spread %. ##########################################

Spread %


Spread percentage is the width of the bid/ask spread divided by the bid/ask midpoint. The values are generated by taking the median spread percentage over each minute, then the average of the medians over the day.

Figure 4: Average spread % by pair (September 20 2020)



.


#########. Returns and Volume ############################################

Returns and Volume


Figure 5: Returns of the four highest volume pairs (September 20 2020)


Figure 6: Volume of the major currencies and an average line that fits the data to a sinusoidal curve to show the daily volume highs and lows (September 20 2020)



###########. Daily Returns. #################################################

Daily Returns %


Figure 7: Returns over USD and XBT. Relative volume and return size is indicated by the size of the font. (September 20 2020)



###########. Disclaimer #################################################

The values generated in this report are from public market data distributed from Kraken WebSockets api. The total volumes and returns are calculated over the reporting day using UTC time.

Source: https://blog.kraken.com/post/6386/kraken-daily-market-report-for-september-20-2020/

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Blockchain

Bitcoin Price Analysis: BTC Facing The Ultimate Make Or Break Level Of $11,000

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  • Bitcoin price is pivotal between the 50-day SMA and $11,000, suggesting possibilities of consolidation taking over.
  • The impact of an ascending wedge is kept at by the 50-day support, breakdown back to $10,000 is still in the picture.

Bitcoin has spent the last three weeks trying to recover from the dip at the beginning of September. There was a break above $11,000 last week, but BTC hit a wall at $11,200, allowing bears to take back control. Since then, support has been established above $10,700. Unfortunately, resistance at $11,000 has stayed put.

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Meanwhile, the flagship cryptocurrency is trading at $10,960 amid attempts to overcome the resistance at $11,000. BTC/USD is also trading at the tip of an ascending wedge pattern. If the hurdle at $11,000 is pushed into the rearview, there is a likelihood of Bitcoin soaring towards $12,000. However, if the rising wedge’s impact comes into play, BTC could embark on a gains-trimming exercise towards the support at $10,000.

Read more: Bitcoin Trading Volume on Bakkt Peaks Again as September Expiration Approaches

BTC/USD daily chart

BTC/USD price chart
BTC/USD price chart by Tradingview

The 50 Simple Moving Average (SMA) in the daily range is in line to offer initial support at $10,850. As long as Bitcoin holds above this level, the potential for gains above $11,000 will remain high in this week’s trading.

The Relative Strength Index (RSI) hints that the largest cryptocurrency is ready for consolidation by leveling marginally above 50. Moreover, the low trading volume means that BTC is less volatile at the moment. The reckoning level remains at $11,000, where Bitcoin can either kick start the journey to $12,000 or embark on a reversal to $10,000. Either way, it is essential to wait for a confirmed breakout before going all-in on BTC/USD.

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Bitcoin Intraday Key Levels

Spot rate: $10,655

Relative change: 41

Percentage change: 0.39%

Trend: In consolidation (short term)

Volatility: Low

Read more: Bitcoin Price Analysis: BTC Eyes $12,000 If 50-day MA Flips Into Support


To get the daily price analysis, Follow us on TradingView

Author: John Isige




John is a talented writer with over two years of experience actively contributing to the cryptocurrency industry by providing credible, interesting and easy to read the content. His main focus is on cryptocurrency price analysis and industry news coverage. Lets follow him on Twitter at @jjisige

Source: https://coingape.com/bitcoin-price-analysis-btc-facing-the-ultimate-make-or-break-level-of-11000/

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