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After Massive Correction, Stellar Lumens Looks to Capitalize on Lightning Network

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As far as percentages go, Stellar Lumens was one of last week’s biggest losers. After recouping most of its losses Monday, the world’s eighth largest cryptocurrency is looking to take flight on a planned implementation of the Lightning Network protocol later this year.

XLM/USD Price Levels

It has been a wild seven days for Stellar’s XLM. The cryptocurrency fell from a high of $0.30 last Wednesday to a low of $0.16 on Sunday – a decline of roughly 47%. By comparison, the broader cryptocurrency market fell by 28% over the same period. At current values, Stellar owns a market cap of $4.6 billion. That’s roughly $200 million shy of NEO and $400 million behind Cardano.

XLM staged a large recovery on Monday, having rebounded more than 50% from the weekend lows. The cryptocurrency is up more than 11% in the last 24 hours and was last seen trading at $0.25, according to CoinMarketCap.

With ether as the quote currency, Lumen rose more than 5%. It also advanced more than 3% against bitcoin.

In terms of daily transaction volumes, nearly $82 million worth of Lumen traded hands in the last 24 hours. Binance and Upbit each turned over roughly 27% of the daily total, based on latest available figures.

Stellar Goes Lightning

Originally designed for the bitcoin network, Lightning is quickly spreading to other blockchains, chief among them being Stellar. The non-profit behind Stellar announced last month that it is planning to implement Lightning later this year. Although the platform does not require Lightning, the protocol will have a significantly “positive effect on Stellar’s long-term scalability and security,” the roadmap said.

It added: “Of course, unlike bitcoin, Stellar doesn’t need “saving” . . . we’re just going from a good place to an even better one,” the roadmap said, adding that it will retain the services of bitcoin core developer Jeremy Rubin to implement the protocol.

On Monday, Stellar detailed the specifications behind Lightning adoption. The new roadmap includes a testnet of Lightning on April 1, followed by state channels beta implementation four months later. The Lightning Network beta is expected Oct. 1, followed by livenet launch on Dec. 1.

The roadmap also claimed Stellar to be the most “deployment-ready” cryptocurrency among the major platforms, as evidenced by the following:

Source: Stellar.org.

According to Stellar founder Jed McCaleb, much of the impetus behind this kind of scale are the partners backing his project. Some of the biggest companies listed on Stellar’s partner directory include IBM, Deloitte and Stripe.

Lightning Labs, the company behind the Lightning Network, has been progressing swiftly on beta testing of the payment system. Last week, it announced the beta version of its Lightning Network Daemon (LND), which promises to bring more scalability and faster payments to the bitcoin network.

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 743 rated postsSam Bourgi is Chief Editor to Hacked.com, where he leads content development for one of the world's foremost cryptocurrency resources. Over the past eight years Sam has authored more than 10,000 articles and over 40 whitepapers in the fields of labor market economics, emerging technologies, cryptocurrency and traditional finance. Sam's work has been featured in and cited by some of the world's leading newscasts, including Barron's, CBOE and Forbes. Contact: sam@hacked.com Twitter: @hsbourgi




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Blockchain Goes Mobile: The First Crypto MVNO Announces Loyalty Rewards Program

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This week, Miracle Tele (blockchain based Mobile Virtual Network Operator / MVNO) announced the public launch of a loyalty rewards program which has been available to token-holders and investors since last October.

The rewards are distributed in the form of an exchangeable crypto token, compared to the non-fungible ‘points’ systems more commonly known (redeemable only for products created by the points distributor).

In this scenario, the customer is afforded full freedom with how they choose to spend their rewards. As far as this writer is aware, the scheme is the first of its type to be offered by any MVNO provider, although it wouldn’t be the first for an MNO.

MNOs and MVNOs

‘Mobile network operators’ (or MNOs) is the term used to describe most of the best known mobile network service providers, such as T-Mobile and O2.

MNOs are wireless cellular providers which possess whole ownership of all the necessary operational components required for the sale of mobile telecom services.

‘Mobile virtual network operators’ (or MVNOs) are companies that enter into a service agreement with the aforementioned MNOs in order to rent their services at a business or wholesale rate.

These companies subsequently apply their own business ideologies, as well as market offerings (unique service packages and value-lines) ideally to contribute to bringing a greater level of competition and choice in the mobile telecom marketplace.

Blockchain in the Mobile Space

Miracle Tele isn’t the first blockchain based company operating in the mobile phones area, and it most likely won’t be the last!

Last year, popular blockchain trading-game ‘Crypto Kitties’ hit the news yet again for being integrated into all factory-setting HTC U12+ devices (the flagship smartphone for the company in 2018).

It wouldn’t be the first time HTC has flirted with crypto either, like when they controversially sold that ‘HTC Exodus 1‘ phone exclusively in exchange for cryptocurrency.

Additional examples of blockchain-based product developers or service providers within the mobile space include providers of token wallets and mobile-apps for exchange. In addition to SBI-backed mobile payments token ‘S Coin’.

Blockchain MVNOs Viable?

There is very little competition of note that is bridging the gap between blockchain and MVNOs, suggesting that the companies we do see will be representative of whether such partnerships will build or bust in the following year(s).

For those interested in learning more about MVNOs in the blockchain space as well as / enjoying my prose, I recommend that you check out an article I wrote here at Hacked.com about how an underrated star in crypto (Electroneum) recently partnered with such a company, growing its portfolio of real-world use cases for p2p financial transaction in line with its mission statement.

Another company in the space, however with less legitimate coverage is one by the name of ‘YOVO’.

Disclaimer: The author owns small quantities of Bitcoin and Ethereum. 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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GBP/USD Price Prediction: Bulls Reclaim 1.2900, Eyes Locked on Another Retest of 1.3000

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  • GBP/USD bulls pick up momentum to the upside, following generally positive tone to Theresa May’s Plan B statement.
  • Next upside targets for the bulls should they firmly breakdown 1.2900 again, will be the psychological 1.3000 mark.

GBP/USD throughout the session on Monday remained very much elevated. This came as market participants were somewhat maintaining an optimistic view. All of which heading into the British Prime Minister Theresa May’s speech to the House of Commons, on her Brexit plan b. Of course, this had to be drafted again, given her humiliating defeat at the vote last week, on the initial EU withdrawal plan.

Theresa May Plan B

In terms of her details this time round, she will be going back to Brussels, to seek some amendments to her initial agreement. This needs to be done in order to get a plan through another vote in the commons. Looking at some of the GBP bullish takeaways from this statement; she guaranteed rights for EU citizens at several angles, scraping the application fee EU nationals registering in Britain, discussing the backstop with the DUP this week.

To conclude, PM May appears keen in her language to ensure of a soft-Brexit, rather than one that is hard. All of which supported GBP in its push to session highs, at the time, briefly moving back above 1.2900. The price had given up this area on 18th January, when the bears were reversing the run observed on 17th, where GBP/USD touched to big psychological 1.3000 mark again.

Technical Review – GBP/USD

GBP/USD 60-minute chart. Near-term resistance eyed at 1.2900, with bulls locked in on a retest of 1.3000.

GBP/USD at the time of writing continues to trade around the 1.2900 territory. This price did see a brief period cooling, on touted profit-taking post the statement. Near-term resistance can be seen within this price region, but if convincingly broken down again, then there is decent upside potential. Aside from the supply observed here, there isn’t much in the way of the 1.3000 price region.

Given the renewed optimism around Brexit now, this has assisted in maintaining momentum to the upside for GBP. In terms of support to the downside, a strong area of demand should be noted at 1.2850-25 price region. As can be seen via the 60-minute chart view, this has supported the price since 15th January.

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 112 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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Bitcoin Cash Price Analysis: BCH/USD Rejected Again by Long-running Descending Trend Line

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  • BCH/USD bulls attempted moving above vital descending trend line capping upside; however , they were dealt another rejection.
  • A recent study suggest Bitcoin Cash is not using anywhere near its full block capacity.

 Bitcoin Cash Bulls Fails to Break Big Resistance

Bitcoin Cash price on Monday is trading in minor negative territory, nursing losses of just some 0.5%, at the time of writing. Over the past three sessions, BCH/USD has traded very closely to a descending trend line. The price continues to face rejection when attempting to break above the aforementioned line; however, the bulls do not have enough momentum. This trend line has been in play since 6th November, right at the start of the pick up in downside, at the back end of 2018.

While BCH/USD was confined below the above-mentioned resistance, it fell a chunky 88%. It had dropped from around $650, down to a low of $73.50 on 15th December. Given the current failure to press ahead and break above, the price once again could be knocked back south.

Bitcoin Cash Block Capacity Failure of Use

There is now 500 days’ worth of data to analyze the capacity of Bitcoin Cash when looking at its block size. A recent study conducted by LongHash suggests that the Bitcoin (BTC) blocks on average have been 30x larger than Bitcoin Cash.

Looking at the figures, in terms of Bitcoin Cash, the block size on average has reported to have been just 171 KB since the fork back in August 2017. In real terms, this represents just 2.1% of the total block capacity for BCH. On just one day there the BCH blocks have been more than half full. Back on 15th January 2018, the blocks were able to average 59% of their total capacity, as covered by the recent study.

The study from LongHash further goes on to say, that some will believe that the BCH blocks not nearing their full capacity is a potential positive sign. However, this can also be seen as a lack of interest in Bitcoin Cash, which is somewhat concerning. Most recently, over the past 30 days, the blocks of BCH have averaged just a small 34 KB, which is just around 3.7% of the roughly 923 KB blocks of Bitcoin over that same period.

Technical Review – BCH/USD

BCH/USD daily chart.

Keeping in mind the earlier described rejections for the price, eyes should now note the coming key areas support. Firstly, just ahead of the big psychological $100 mark, at $105, which is an important daily support. The price had last traded around this level between 6-10th December, as it sought comfort at the time, before resuming its move south. If this fails to hold, then a retest of the December low and 2018 low at $73.50 would likely be on the cards.

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 112 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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