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Aeternity (AE) Valuation Surges as Positive Developments Accumulate

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Aeternity (AE) saw its dollar valuation surge throughout the early hours of Wednesday morning, as a week of positive developments appears to be paying off.

AE Spikes 20% Overnight

The AE token spiked in value by just over 20% early on Wednesday morning, rising from yesterday’s daily low of $1.07, up to a peak of $1.29 recorded at around 09:30 UTC.

The peak arrived just as eastern trading markets draw to a close for the day, and the eastern influence can be seen in AE’s daily trades, with over 50% of the movements coming on Gate.io, ZB.COM, and OKEx – exchanges which are all based in China.

Funnily enough, the predominant trade across those exchanges is not CNY (Chinese yen), but Tether (USDT), accounting for almost 60% of the daily AE trades in total. Volumes quadrupled from Tuesday into Wednesday, rising from $5 million to $20 million over twelve hours.

Aeternity had exhibited some of the same stability seen from Bitcoin over the last seven days, never once breaking from a tight range between $1.04 and $1.09. Today’s movement marks the culmination of a week of positive developments and partnerships which may have been enough to shift sentiment for Aeternity.

Aeternity & DSTOQ

Last week it was announced that the DSTOQ securities exchange has chosen to implement Aeternity’s blockchain technology in its trading platform. Specifically, DSTOQ appears to be looking to make use of Aeternity’s oracle system – a feature which updates blockchain services with real world data in a decentralized and incentivized manner.

Aeternity CEO and founder, Yanislav Malahov – former co-creator of Ethereum – shared his enthusiasm over the partnership:

“Together, æternity and DSTOQ share an enduring vision to bring blockchain to the masses. Our oracles are critical tools to provide investors with the real-world information they need to conduct everyday transactions.”

Meanwhile, co-founder of DSTOQ, Craig McGregor referred to the platform’s home-base in Lichtenstein – a tiny European country which is at the forefront of crypto and blockchain adoption:

“I look forward to working closely with the aeternity team for the most blockchain-friendly jurisdictions in the world, driving forward progressive regulation as evident in their newly proposed Blockchain Act”

McGregor added:

“We seek to make capital markets more accessible to as many individuals as possible by removing the intermediaries who often create artificial barriers. With æternity, we are at the forefront of the blockchain revolution and are empowering communities to contribute and reap the rewards.”

AE Update and Java SDK

Also released this week was the Javascript Software Development Kit (SDK) for DApp creators on the Aeternity blockchain. Referred to as Aepps, the SDK gives developers the tools they need to build on Aeternity using one of the most common programming languages.

Meanwhile, this week also marked the release of the latest development report by the AE team, which details recent ‘Significant improvements to state channels, nodes and system stability’, more on which can be read here. The updates are expected to hit the testnet by the end of the week.

Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.5 stars on average, based on 146 rated postsGreg Thomson is a full-time crypto writer and digital nomad. He eats ICOs for breakfast and bleeds altcoins. Wherever he lays his public key is his home.




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Tron Price Analysis: TRX/USD Bulls Hunting for a Potential Charge Back Above Broken Critical Trend Line

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  • Tron bulls continue to push the price north maintaining a firmer path of recovery.
  • TRX/USD has gained a significant 10% over the past four sessions, moving to its highest level in five days.

TRX/USD: Recent Price Behavior

The TRX/USD bulls have been enjoying some upside relief over the past few sessions now, picking up much pace in the session on Monday. The price managed to move to its highest level  in over seven sessions. Over the past four days, Tron has gained just shy of 10% as the price looks set for recovery following a breach last week of critical support.

An ascending trend line initially supported TRX/USD to the upside, providing exceptional comfort in its move north. The running support had been in play since the back-end of December 2018; however, after a decent run, the bears managed to force a breach. Sellers were able to regain control after the move below, to then see four consecutive days of selling, dropping around 10% in total.

Between 14-15th February, TRX/USD managed to find its feet after what could have very much been a free-fall to the deep south. Daily support came into play around $0.023550, which has provided needed comfort on several occasions already this side of the year. The recovery has been in play since this decent bounce occurred.

Tron Crypto Card

TRON recently detailed more information about its upcoming crypto card. The date of pre-order for the GRID X BitTorrent crypto card is going to be live on 18th February 18 2019 at 8 PM UTC. The GRID crypto card will be a prepaid card that can be topped with TRX in three amounts of 15,000, 50,000 and 100,000. Holders of the cards will be rewarded with BitTorrent (BTT) tokens as part of monthly BTT airdrops.

GRID will be one of two crypto cards built via the Tron network. The first, TronCard, was introduced as a tangible TRX wallet. Both TRX and TRC10 tokens can be stored on the TronCard similarly to a virtual wallet. These mentioned tokens are tokenized assets which would be leveraged via decentralized applications (dApps) via the Tron Network. A QR code feature can also be scanned by users for access to the public key. A physical card will then be able to integrate with the virtual wallet.

Technical Review – TRX/USD

TRX/USD daily chart.

The major challenge for the bulls as detailed above is seen underneath the breached ascending trend line; this is tracking at around $0.027500. Should the bulls manage to break back above this prior acting support, then expect a strong wave of buying pressure to come into play. Further to the north, eyes will be on the $0.03000 area. TRX/USD has not comfortably traded above this price region since August 2018. Once broken down, there isn’t too much in the way of a return back up to $0.04000 territory.

Disclaimer: The author owns Bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.6 stars on average, based on 124 rated postsKen has over 8 years exposure to the financial markets. During a large part of his career, he worked as an analyst, covering a variety of asset classes; forex, fixed income, commodities, equities and cryptocurrencies. Ken has gone on to become a regular contributor across several large news and analysis outlets.




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Crypto Update: 5 Altcoins to Watch This Week

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All of the five altcoins included on last week’s list moved within our expectations. Ark (ARK/BTC) led the way as it retested the range support before hitting both of our targets in one week. It is followed by Dash (DASH/BTC), rallying strong after recovering a key support area as predicted. In addition, Litecoin pulled back as expected but it managed to show bullish signals towards the end of the week. Talking about retesting supports, Monero (XMR/BTC) retested a support as well while showing signs of stability.

The only non-mover on last week’s list was Ripple (XRP/BTC). The market continues to trade at our range support while printing a double bottom pattern.

This week, we put our attention on altcoins that are showing strong bullish signs. With Bitcoin (XBT/USD) stuck in a range, this week might be the chance for many coins to fly. Here are the five altcoins to watch this week.

Ethereum (ETH/BTC)

Ethereum bulls have recently been flexing their muscles. They continue to defy expectations as they push Ethereum close to our range high of 0.0418 with significant volume. With yesterday’s strong rally, the market is now trading above its 200-day moving average.

Daily chart of ETH/BTC

However, Ethereum is now trading in overbought territory. Thus, a brief pullback is needed to allow technical indicators to cool down. So instead of letting the fear of missing out influence your trading decisions, wait for the correction before entering the market. A good target is our current range midpoint of 0.0339.

Once the retracement is complete, we believe Ethereum will continue its ascent to our initial target of 0.0418.

EOS (EOS/BTC)

EOS is looking pretty bullish. After it nearly touched our range midpoint of 0.00828 on February 12, 2019, the market showed signs of short-term bullish exhaustion. More often than not, failure to take out the range midpoint leads to a retrace down to the range low. EOS wants to part of this trend.


Daily chart of EOS/BTC

However, the market refuses to revisit the range low of 0.000073 as it flashes bullish signals. First, we can see the 200-day MA acting as support. Second, there’s a golden cross between the 50-day MA and the 100-day MA. With these signs, we won’t be surprised to see EOS flip 0.0000828 resistance into support this week. Should that happen, the next target is 0.0000926.

Mainframe (MFT/BTC)

After failing to take out our range high of 0.000001 on February 11, Mainframe unravelled as it posted five red candles in seven days. Nevertheless, the market is starting to look attractive to bottom-pickers.

Daily chart of MFT/BTC

On February 16, Mainframe went below our range midpoint of 0.00000085. It then retested this level as a resistance on February 17. Should the market recover this support soon, we could expect Mainframe to rally to our range high of 0.000001. Otherwise, we can expect it to retrace all the way down to our range low of 0.0000007.

Komodo (KMD/BTC)

Komodo is a market that wants to range higher. Bulls are working hard today, February 18, to finally take out our current range high of 0.0000239. However, bears have no intentions of making it easy as they continue to dump positions. As a result, the daily candles in the last two days have wicks above their bodies.


Daily chart of KMD/BTC

Looks like Komodo is flipping 0.0000239 resistance into support. The market already rallied to our target of 0.0000279 today. However, Komodo may still go back down to 0.00001968 should 0.0000239 not hold as a support.

VeChain (VET/BTC)

VeChain has been range trading between 0.00000102 and 0.00000127 for about three months. Recent price action tells us that it might be ready to break out of its range.

Daily chart of VET/BTC

Just like EOS, Vechain also refused to revisit its range low of 0.00000102. The high volume rally on February 16 tells us that the market is intent on flipping resistance of 0.00000115 into support. If it does, we expect VeChain to climb to our range high of 0.00000127.

Bottom Line

With Bitcoin stuck in sideways trading, altcoins have some room to grow. We believe that Ethereum and EOS will lead the charge this week. Mainframe, Komodo, and VeChain will likely follow their lead. Looks like we have an exciting week of trading ahead of us.

 

Disclaimer: The writer owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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3.9 stars on average, based on 328 rated postsKiril is a CFA Charterholder and financial professional with 5+ years of experience in financial writing, analysis and product ownership. He has passed all three CFA exams on first attempt and has a bachelor's degree with a specialty in finance. Kiril’s current focus is on cryptocurrencies and funds, as he does his own crypto research and is a Product Manager at Mitre Media. He also has his personal website, InvestorAcademy.org where he teaches people about the basics of investing. His ultimate goal is to help people with limited knowledge of finance and investments to create investment portfolios easily, and in line with their unique circumstances.




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Cue the Crypto Recovery: Coins Surge $9 Billion Overnight as Ethereum, EOS Break Out

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Cryptocurrencies broke out of their narrow trading range on Monday and were on track to finally snap a four-month losing streak as bitcoin and its altcoin peers surged to their highest levels since early January.

Crypto Coins Surge

The top 40 cryptocurrencies by market capitalization reported gains through the early part of the session on Monday. Among the majors, Ethereum surged 14.8% to $144.65, its highest since Jan. 9. As we reported over the weekend, ether is benefiting from renewed optimism tied to its upcoming Constantinople hard fork.

The EOS price climbed 14.2% to $3.21. That was the highest since November.

Bitcoin cash also registered double-digit gains, climbing 10.7% to $134.61.

Bitcoin, the largest cryptocurrency by market cap, rose 5.8% to $3,836.51. Read more: Bitcoin Surges to Five-Week High; Crypto Bulls Reignite?

XRP reached $0.3159, having gained 5.2%. Litecoin extended its multi-week rally, climbing 7.8% to $46.48.

Tron, Stellar and Binance Coin all rose by at least 4.1%, according to CoinMarketCap.

Beyond the top-ten, Marker surged 10.2% to $573.80. In doing os, it toppled NEO and Ethereum Classic in the crypto-market index.

The combined value of all cryptocurrencies improved to $129.7 billion, having gained $9 billion since Sunday. Trade volumes jumped more than 40% to $28.6 billion.

Volumes and Fundamentals

Crypto markets as a whole are riding a four-month losing streak, but for bitcoin the skid stretches back all the way to six months. That’s the longest string of consecutive losses in its ten-year history.

Consecutive months of rising trade volumes are finally beginning to translate into higher prices. The number of bitcoins in circulation has been rising steadily since the summer, a trend that is positively correlated with increased volatility. Since October, coin circulation and trading volumes have been increasing more rapidly as long-dormant accounts became active once again.

Related: Bitcoin Likely Headed Lower as Whales Activate Long-Dormant Accounts.

Initially, it was feared that many of these suddenly active accounts would become net sellers. This was certainly the case in November when concerns about the bitcoin cash hard fork triggered a relentless technical selloff in the broader market. But over the past few months, higher trade volumes have not resulted in the same selling pressure as before. In fact, a sharp decline in volatility was also observed during the same period. This low-volatility, high-volume regime is unique for cryptocurrencies.

Fundamentals surrounding cryptocurrencies have also improved since the new year. For bitcoin, this means higher transactions and lower fees. On the adoption front, pension funds and other retirement planners are actively investing into crypto funds. Within traditional finance, JPMorgan Chase & Co has become a firm believer in stablecoins after the bank announced it will launch a new cryptocurrency to ease the time and cost burdens on its $6 trillion payments market.

Check out our latest Week in Review: Jamie Dimon Gets Crypto Fever as JPMorgan Develops Stablecoin; Bitcoin Fundamental Improve.

Disclaimer: The author owns Bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.7 stars on average, based on 771 rated postsChief Editor to Hacked.com and Contributor to CCN.com, Sam Bourgi has spent the past nine years focused on economics, markets and cryptocurrencies. His work has been featured in and cited by some of the world's leading newscasts, including Barron's, CBOE and Forbes. Avid crypto watchers and those with a libertarian persuasion can follow him on twitter at @hsbourgi




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