Photo: Binance Research / Twitter So-called cluster analysis, is a well-known statistics technique that helps to group/ classify objects under one roof and Binance now used it in order to explore the top 30 cryptoassets retrieved from CoinMarketCap. The report, which is titled, “Categorizing Cryptoassets: A Return-Driven cluster Analysis,” focuses on the correlation between cryptocurrencies in terms of price. The research showed that based on weekly returns, large cryptoassets such as Bitcoin and Ethereum exhibit the highest correlations, but XRP displays a lower correlation and is an exception as the…
Day: April 29, 2019
Iota Partners With Jaguar Land Rover on Crypto Rewards Program, Price Jumps 20%
United Kingdom car manufacturer Jaguar Land Rover will use blockchain network Iota to reward drivers with cryptocurrency for data reporting, the companies confirmed in a press release on April 29. Part of a plan to gather better information on road conditions and vehicle performance, Jaguar will distribute Iota’s Iota tokens to Smart Wallets tied to participating drivers. The drivers will then be able to redeem them for various products including road tolls and even coffee, Jaguar says. “In the future an autonomous car could drive itself to a charging station,…
Volkswagen to Make Supply Chain Transparent with Blockchain with Hackathon Winner Minespider
The solution developed by Minespider is a proprietary protocol built on a public blockchain. A multi-layer architecture guarantees the security of the sensitive supply chain data despite the open source approach. One layer of the protocol contains generally accessible information, a second layer contains the private data blocks which cannot subsequently be changed, and the third layer is the encryption layer. The advantage versus a private blockchain is that everyone – from suppliers and sub-suppliers through to those directly responsible for mining or recycling the raw material – works with…
Bitcoin (BTC) Price Near Crucial Juncture: Can Bulls Gain Traction?
Bitcoin price rebounded above $5,100 after a massive drop towards $4,900 against the US Dollar. The price seems to be facing a strong resistance near the $5,200 and $5,220 levels. There is a major bearish trend line in place with resistance near $5,230 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could either rally above the $5,250 resistance or start a fresh decline in the near term. Bitcoin price is facing a significant resistance against the US Dollar. BTC is likely to climb sharply…
Crypto Market Could Defy Gravity: IOTA Rallies, Bitcoin Cash, TRX, ADA Analysis
The total crypto market cap broke a major bearish trend line near the $166.5B resistance. Bitcoin cash price is still struggling and it recently broke the $260 support. Tron (TRX) is currently consolidating losses above the $0.0230 support level. Cardano (ADA) broke the $0.0700 support level and it could now test $0.0650. IOTA (MIOTA) climbed higher sharply by more than 10% and broke the $0.3000 resistance. The crypto market is slowly moving higher, driven by bullish moves in bitcoin (BTC). IOTA performed really well, while Ethereum (ETH), tron, ripple, LTC,…
Ripple (XRP) Price Remains At Risk Of Further Decline
Ripple price recovered recently above the $0.2900 level and tested $0.2960 against the US dollar. The price seems to be facing a strong resistance near the $0.2950 and $0.2960 resistance levels. There is a connecting bearish trend line forming with resistance near $0.2935 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could revisit the $0.2810 level as long as it is trading below $0.2960 and $0.3000. Ripple price is facing a lot of hurdles on the upside against the US Dollar and bitcoin. XRP…
Ethereum (ETH) Price In Another Decrease As Bulls Struggle
ETH price corrected higher recently but failed to break the $160 resistance against the US Dollar. The price is currently moving lower and it might revisit the $150 or even $146 support level. There is a key connecting bearish trend line formed with resistance at $155 on the hourly chart of ETH/USD (data feed via Kraken). The pair could recover if it surpasses the $156 resistance and the 100 hourly simple moving average. Ethereum price is facing an increase in selling pressure versus the US Dollar and bitcoin. ETH remained…
A Boost for the Industry, but Also a Distraction
Marketing loves celebrities — and with good reason. They’re “celebrated” people, individuals invested with bulk quantities of cultural capital (i.e., public respect, goodwill and interest), which — if tapped correctly by marketing firms — can be reflected onto endorsed products. This is why they’ve already proven important for the cryptocurrency industry, which has enlisted the likes of Lionel Messi, Floyd Mayweather Jr. and Steven Seagal for the purposes of drawing the public’s attention toward initial coin offerings (ICOs) and new cryptocurrencies. But while the above have simply been endorsements offered…
IOTA Inks Game-Changing Crypto-Powered Deal with Jaguar Land Rover
By CCN: Jaguar Land Rover has caught crypto fever. The UK-based company is teaming up with the IOTA Foundation for an initiative that will catapult cryptocurrencies into the limelight. Jaguar Land Rover is testing smart wallet technology that will incentive drivers to earn crypto while driving. It sounds like a commuter’s dream come true. Drivers earn crypto rewards in exchange for sharing data surrounding “useful road [conditions]…such as traffic congestion or potholes.” That is if you don’t mind sharing information in real-time while you’re on the road. The information is…
Prominent Investors Are Sure The Bitcoin (BTC) Bottom Has Been Established: Why?
Analysts Lean Bullish (Almost) Across The Board Last week, Willy Woo, a prominent crypto researcher, released what has to be the biggest collection of analyst opinions in a while. According to the data he gathered, most prominent Bitcoin traders, investors, and chartists, are sure that the cryptocurrency bottom was established when BTC hit $3,150 in December. I surveyed notable influencers, analysts and traders for their probability that the bottom is in for this bear market. Here are the results: 95% @woonomic (Adaptive Capital / On-chain Analyst)90% @jespow (Kraken founder)90% @arjunblj…