Tag: Support

Top Crypto Exchange Binance Adds Circle’s USD Coin in Latest Stablecoin Support Move

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Major cryptocurrency exchange Binance announced it would list Circle’s USD-pegged stablecoin USD Coin (USDC) in a blog post Nov. 15, with deposits opening immediately. USDC, which the financial services company announced in May this year and released in September, is one of an increasing number of cryptocurrencies notionally tied 1:1 with a major fiat currency. Binance is not the first major platform to list USDC, U.S. exchange Coinbase supporting the asset since the end of last month. “For increased transparency, USDC has engaged a top-ranking auditing firm to release monthly…

Competing Bitcoin Cash Forks Show Differing Outcomes; Miners Support SV while Traders Side with ABC

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Ahead of Bitcoin Cash’s (BCH) impending fork on November 15, 2018, miners maintaining the network may be taking two different paths for the protocol if data from Coin Dance is considered. Competition in Decentralization The two teams, Bitcoin ABC and Bitcoin SV, led by Bitcoin Cash proponent Roger Ver and CoinGeek CEO Calvin Ayre respectively, are engaged in a fierce battle of hashpower to ensure their protocols make the cut. Data suggests Bitcoin SV miners control a staggering 76 percent of the network’s current mining power, with backers such as…

OKEx Adds Support for the Vietnamese Dong on Its Fiat-to-Crypto Platform

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Malta-based cryptocurrency exchange OKEx has added the Vietnamese Dong (VND) on its Customer-to-Customer (C2C) trading system, enabling Vietnamese customers to exchange their fiat currency for tokens on the platform. The C2C platform was created by OKEx in 2017 as a peer-to-peer platform where users can buy and sell cryptocurrencies using fiat currencies. OKEx’s Head of Operations Andy Cheung noted that the addition of the VND on the company’s fiat-to-token platform would drive the adoption of cryptocurrencies in Vietnam. “Vietnam is one of the most important blockchain hubs in Southeast Asia.…

Bitcoin Teases Bull Move After Defense of Key Price Support

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Bitcoin could be in for a recovery rally, having defended a key support level over the weekend. The leading cryptocurrency has been looking bearish over the last week. It suffered an ascending channel breakdown on Nov. 7, suggesting a temporary top had been created at $6,540, while the moving averages rolled over in favor of the bears a day later. As a result, BTC looked likely to drop below the support of the trendline connecting the Oct. 11 and Oct. 31 lows, and move toward $6,200 over the weekend. Instead,…

Bitcoin Cash (BCH) Fork: Poloniex Announces Pre-fork Trading Support

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Popular cryptocurrency exchange Poloniex announced on November 7, 2018, the trading support for two competing cryptocurrency tokens, Bitcoin Cash ABC and Bitcoin Cash SV. The scheduled Bitcoin Cash hard-fork goes live on November 15, 2018. Poloniex Takes a Neutral Stand The upcoming Bitcoin Cash (BCH) fork is due on November 15, 2018, and there are two competing development teams proposing two different consensus protocols to become the next implemented fork. In the scenario, Poloniex opted for a neutral position and announced that it was opening trading for both tokens before the fork…

Star Trek’s William Shatner Tweets in Support of Vitalik Buterin

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William Shatner’s positive Tweet posted yesterday, Nov. 7 about Ethereum (ETH) co-founder Vitalik Buterin has led to backlash from crypto Twitter about the alleged centralization of Ethereum’s network. Shatner is a Canadian actor who became a sci-fi icon for his portrayal of James T. Kirk, captain of the USS Enterprise, in the American television series Star Trek. Since then, the actor has become arguably equally as well-known for his role in television commercials as the Priceline Pitchman. The former spaceship captain turned Priceline spokesman has an audience of around 2.52…

Bitcoin Cash Price Analysis: BCH/USD Consolidating Near Key Support

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Key Points Bitcoin cash price traded as high as $637 and later corrected lower against the US Dollar. There was a break below a key bullish trend line with support at $605 on the hourly chart of the BCH/USD pair (data feed from Kraken). The pair is currently trading near a major support at $575 and the 100 hourly simple moving average. Bitcoin cash price started a downside correction from the $640 swing high against the US Dollar. BCH/USD is currently consolidating near $575 and it could bounce back. Bitcoin…

Bitcoin Price Watch: BTC/USD Near Make-or-Break Support Zone

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Key Points Bitcoin price declined recently and traded below the $6,470 support level against the US Dollar. There is a significant bullish trend line in place with support at $6,440 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price is likely to bounce back as long as it is above $6,440 and $6,375 in the near term. Bitcoin price corrected lower below $6,500 against the US Dollar. BTC/USD is currently testing a major support at $6,440, which holds the key. Bitcoin Price Analysis Yesterday, we…

Ethereum Classic Price Analysis: ETC/USD Approaching Significant Support

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Key Highlights Ethereum classic price traded close to $10.00 before correcting lower against the US dollar. There is a major bullish trend line in place with support at $9.40 on the hourly chart of the ETC/USD pair (Data feed via Kraken). The pair is likely to find a strong buying interest near the $9.40 or $9.20 support level. Ethereum classic price started a downside correction against the US Dollar and Bitcoin. ETC/USD is approaching a few important supports above the $9.20 level. Ethereum Classic Price Analysis In the last analysis,…

Crypto Exchanges Line Up to Support Bitcoin Cash’s Hard Fork

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Six of the top 10 crypto exchanges by bitcoin cash (BCH) trading volume have announced plans to support the cryptocurrency’s upcoming hard fork on Nov. 15. Bitcoin cash’s roadmap includes upgrades to its core code every six months, but disagreement over some changes to the network have raised the specter that two distinct branches of the cryptocurrency could take shape, given that two implementations – Bitcoin ABC and Bitcoin SV – are being put forward by competing teams. While the outcome isn’t clear, one scenario would see two separate cryptocurrencies arise…