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Global Volume Up 23% Today: PundiX and Wanchain Feel the Bounce

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Global trade volumes have begun to rise again after falling steadily throughout the week, with a 23% influx pouring in since yesterday.

Bitcoin jumped 3.8% today and reached a coin price of $7,144 before a slight fallback to the $7,100 range. Ethereum spiked 2% before immediately losing the day’s gains and is currently in the red over 24 hours at $405.

The impact of the trade influx has been most felt at the lower ends of the market cap top one-hundred, where a host of altcoins have struck double figures for the day.

PundiX (NPXS)

PundiX is up 32% for the day, climbing from a price of $0.001870 up to the current price of $$0.002484. These seismic surges are nothing new for PundiX, and this one could be a day-trader’s favourite considering its consistent volatility. Looking at the chart below, you can see the pattern of brief surges that follow every dip over the course of the month.

Binance is host to the highest volume of NPXS trades today, representing 84% of the daily total. NPXS/BTC trades are the most active by far, making up $5 million of the $8 million daily volume, while ETH trades account for around 30%, or around $2.7 million.

PundiX targets the fiat-crypto conversion market, while attempting to push into physical shops and stores with easy crypto payments. The Indonesian crypto firm recently got accepted as a payment method in a chain of Hong Kong restaurants, and even has established cryptocurrencies such as Verge (XVG) seeking to be listed on its Point-Of-Sale (POS) crypto-payments platform. Big moves for a coin that only gained an official market cap ranking in July 2018.

Wanchain (WAN)

WAN coins spiked 27% today, hitting a daily peak of $1.44 before an expected fallback to the $1.30 range. The daily volumes have jumped an incredible 370% in the last 16 hours or so, rising from $1.7 million earlier this morning to the current volume of $8 million. As above so below – Binance BTC trades make up 78% of that $8 million volume, with Binance ETH trades covering 10% of the total.

Wanchain only finds itself represented on five exchanges, with Huobi and Kucoin presenting the only real alternatives to Binance.

WAN’s monthly outlook isn’t as bad as PundiX, perhaps due to the waves it made in late July after conducting an atomic swap between the WAN and Ethereum blockchains. Cross-chain transactions between disparate blockchains is a relatively new phenomenon and has only been achieved by a small handful of coins.

Besides the two coins above, ZCoin (XZC), Elastos (ELA), Basic Attention Token (BAT) and Aurora (AOA) have all hit double figures for the day, although the tide has now started to turn with the growth slowing over the last couple of hours.

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 106 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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Ethereum Price Analysis: ETH/USD Not Out of the Woods Yet

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  • ETH/USD odds are still stacked against the bulls for now, as price remains within range-block.
  • Ethereum co-founder Vitalik Buterin, says his creation is becoming more and more decentralized.

ETH/USD has enjoyed a chunky bull run over the past three sessions, with that slowing down Tuesday. Between the 15th – 17th December, the price had gained a chunky 23%. ETH/USD hit its highest level seen since 9th December. It appears the bulls, however, have run into a near-term barrier. ETH has been moving within a range-block from 7th December, which is still the case. The momentum so far not proving to be enough to take the price through for now.

Ethereum More Decentralized – Vitalik Buterin

The co-founder of Ethereum, Vitalik Buterin, discussed how the network is becoming more decentralized of late. He was recently speaking in an interview with Blockchain Insider.

Buterin believes that a change is starting to be seen in terms of the further decentralization of the Ethereum blockchain. He believed that it was much too centralized around himself. He further affirmed the observations over the last 12 months of governance actions, which were he suggested were responsible for this.

The Ethereum creator said, “Number one, like a lot of the features in the Constantinople hard fork, that are launching in January, basically happened without me. Number two, issuance reduction from 3 ether to 2 ether which is going into Constantinople, I was not involved at all.”

Only just some days ago, a team lead within the Ethereum development circle, Péter Szilágyi, confirmed the scheduled update. This was covered by Hacked in a prior article. He had noted the upgrade is to start around 16th January 2019.

Ethereum 1.X Update

Focus outside of the Constantinople hard fork is on Ethereum 1.X. This will be a new developed update, which is anticipated to take place during June 2019 provided there are no delays.

Buterin said, “Ethereum 1.x, short-term scalability improvements that are going on to the main chain, before we can switch over to sharding. That whole effort started without my involvement at all.” The update is supposedly a replacement of the EVM – Ethereum Virtual Machine.

Technical Review – ETH/USD

ETH/USD daily chart

As detailed earlier, ETH/USD has been moving within a range-block. The upper part of this recent range appears to have slowed down the bulls. The key levels to this block for now, seen at $101 to the upside, and $83.45 to the downside. It is as simple as depending on which area is broken that shall determine the fate of the trend.

Despite the enormous jump of around 16% for ETH/USD, the fact of the matter is the odds are still stacked against the bulls. This being the case so long as the price remains confined within the detailed formation above.

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 88 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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Altcoins Share Spoils; Ontology, DigiByte, Revain, EOS Take Moonshots Amid Market Surge

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Most major altcoins helped themselves to +10% gains during Monday’s market recovery – a surge which saw the global market cap climb 12% overall, and sent Bitcoin back to the $3,600 range.

Several altcoins raced ahead of the pack, logging between 20% and 107% gains for the day, with DigiByte (DGB), Ontology (ONT), Revain (R), MOAC (MOAC), EOS (EOS) (covered earlier) and Arbitrage (ARB) most prominent among them.

DigiByte Price – DBG/USD

From the daily low of $0.008336, DGB’s dollar value climbed just over 22% up to $0.010210, with the peak landing at around 20:30 UTC.

DigiByte volumes doubled over the course of the day – ahead of the 50% volume increase experienced by the market in general. Still without a Binance listing, despite a long and messy mud-slinging process between Jared Tate and Binance’s CZ, the majority of DGB’s action came from Bittrex, Poloniex and Sistemkoin. Over 75% of all trades came against BTC.

Ontology Price – ONT/USD

Ontology climbed to 31% growth from trough to peak, moving from a coin price of $0.460371 up to $0.605721.

Ontology fell 95% since January’s peak, landing at an ATL (all-time low) in the $0.40 range on December 15th. As one of the NEO platform’s most successful token launches, ONT has literally never found itself at such low prices in its short nine-month existence.

Over 60% of ONT trades went through USDT on Monday, with Binance, Huobi, DigiFinex and OKEx making up close to 80% of overall movements.

Revain Price – R/USD

Revain shot to 61% growth in little over twelve hours, climbing from a coin price of $0.129126 up to $0.208672 by Monday afternoon. Since then the token price fell back to the $0.173 range – a more than 25% pullback.

Despite its relatively unknown status, Revain has averaged daily trade volumes of $2.5 million for the last two quarters of the year – an average volume higher than many coins and tokens in and around the top thirty.

MOAC Price – MOAC/USDT

Just over 99% of MOAC’s trade volume came from one exchange and one trading pair today, namely the MOAC/USDT market on CoinBene.

From the daily low of $0.431884, MOAC climbed 55% against the dollar, landing at a peak of $0.669675. Trade volumes more than quintupled throughout the day, rising from $25,000 to close to $130,000.

MOAC fell 98% from its all-time high back in February, just a month after launch. December 14th marked an all-time low for the coin when it fell to the $0.32 range, from an all-time high of $18.46.

Arbitrage Price – ARB/USD

ARB volumes rose 1,633% in the last two days as the token price climbed 107% from $4.13 to $8.56.

All 100% of ARB’s trades came from just one exchange – CoinExchange, where ARB/ETH made up 93% of the action. ARB/BTC made up the rest.

Arbitrage launched in Q3 of 2018, and went relatively under the radar until a near 1,000% surge in October put it on the map, and in the market cap top hundred.

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 106 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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IOTA Price Analysis: MIOTA Has Made Encouraging Technical Progress

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  • IOTA continue to expand and collaborate on new projects with other organizations.
  • Bulls defy the odds to breakout from a bearish technical set up. Eyes on a recovery back towards pre-November drop levels.

MIOTA price has gradually seen a renewed amount of bullish sentiment and is trading within its third consecutive session in the green. This comes after weeks of selling from the start of November well into December. Of late, a bottom area has been formed, around the $0.20 mark, which has seen the bulls capitalize on.

It is worth noting, however, that any bull run that has observed continues to be sold by the bears at quite some force. Despite this, most recently the price has made promising developments, given a break away from a bearish technical set up.

Strong Fundamental Developments

Recently, the IOTA foundation had announced a new collaboration with NEXT Biometrics, a global leader in fingerprint sensor technology.  The two organizations will be working together in the development of Internet of Things solutions. This is to then be integrated within NEXT’s leading fingerprint sensor technology and IOTA Foundation’s open-source protocol.

The IOTA foundation’s goal is the promote the development and standardization of Distributed Ledger Technology (DLT). Their Tangle is a DLT which is designed for the Internet of Things. This is an open-source protocol that enables machine-to-machine (M2M) engagements. This covers data transmission, in addition to real-time micropayments without charges. It also covers the acquisition and dissemination of information that is sensor-based. As a result, both IOTA and NEXT Biometrics will create synergies from their own existing technical knowledge and experience.

This comes after recent positive updates on the IOTA and Audi partnership, as reported at Hacked in the article last week.

Technical Review – IOT/USD

IOT/USD daily chart

IOT/USD price action had been moving within a bearish pennant pattern set up since 7th December. This formation took place after the steep fall that initiated from November into December. The bulls managed to breakout to the upside from this pattern, most recently on the 16th. This occurred after the odds appeared to be heavily stacked in the favor of the bears amid this current formation.

Furthermore, given the most recent move north, looking to the upside choppy resistance can be eyed around $0.3000-$0.3500 area. This could very well be the bulls first barrier to tackle. Ultimately, a return back to pre-November fall levels will be sought upon. As a result, a return back within the $0.5000 territory, which is some 100% away, at the time of writing is the next major target.

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 88 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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