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Ethereum: Why ‘we still haven’t seen anything yet’

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Ethereum, the second-largest cryptocurrency, has been actively forging a new path as it loses correlation from Bitcoin. This has resulted in the value of Ether limiting the intensity of dumps witnessed in the Bitcoin market and recover faster. With the third-quarter kick-starting, analysts believed Ethereum was among the top 5 picks for alt traders and HODL-ers to watch out for.

Ethereum’s unrealized potential

According to the market analysis from Coin Bureau, Ethereum had a “much higher chance to achieve upside potential” in the coming months. Ethereum team has been working relentlessly in transforming its existing proof-of-work [PoW] system into proof-of-stake [PoS]. Thus, the changes taking place in the Ethereum ecosystem were pushing its potential as a future crypto higher.

The Coin Bureau Guy, as popularly referred to by the crypto industry, noted the deployment of the Ethereum Improvement Protocol [EIP] 1559 to be a major factor in this. It could turn Ether into a deflationary asset with enough activity since a portion of every transaction fee is burnt. Going by the clear demand and supply logic, this could result in pushing the value of ETH up north.

Analyst Elliot Wainman elaborated on this supply shock that could take place in the market. He stated,

“ETH is literally on fire. The transition to proof of stake will make this even more dramatic, and it’s important to realize that EIP-1559 isn’t even supported by MetaMask yet, much less all of the major DApps [decentralized applications]. As much as this has been an amazing supply shock so far, we still haven’t seen anything yet…”

Similarly, institutional investment in Ethereum was rising along with market shares for the asset for this group of investors. The digital asset is primed for an institutional-powered rally in 2020 and could challenge the actual market cap of Bitcoin soon.

Meanwhile, demand for an Ethereum exchange-traded fund [ETF] has remained but what’s interesting is that the United States Securities and Exchange Commission has not yet rejected it but kept it pending. While the SEC has rejected multiple BTC ETF proposals, the ETH ETF review seemed a positive change.

Based on its current network development and fundamental activities, ETH could remain northbound.

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Source: https://ambcrypto.com/ethereums-upside-potential-could-be-revealed-in-the-coming-months

Blockchain

CFTC Examining Possible Insider Trading at Binance: Bloomberg

CFTC Examining Possible Insider Trading at Binance: Bloomberg

Rate this post The U.S. Commodities Futures Trading Commission (CFTC) has expanded the scope of its investigations into Binance to include possible insider trading at the exchange. CFTC Expands Investigation into Binance over Insider Trading Binance, which was already being probed for selling Bitcoin-related derivates in the U.S., is now facing an inquiry over insider trading, according to a report from Bloomberg. The report states that the CFTC has been reaching out to witnesses in recent weeks for more information on the matter.  As the world’s largest cryptocurrency exchange, Binance sees transactions worth billions every day. That also provides the company with privileged information about transactions, which is being questioned by the regulators.  For its part, the company stated that it has a “zero-tolerance” policy and a “strict ethical code” to prevent misconduct that could harm its customers.  “At Binance, we have a zero-tolerance policy for insider trading and a strict ethical code related to any type of behavior that could have a negative impact on our customers or industry,” a Binance spokesperson said. Binance’s regulatory woes in the U.S. extend beyond the CFTC investigation. The Department of Justice (DOJ) and the Internal Revenue Service (IRS) are also scanning the exchange for any links to money laundering and tax evasion in the country. Binance’s Continued Regulatory Headache Regulatory compliance has been an ongoing issue at Binance. The company’s founder and CEO Changpeng Zhao, also known as CZ, believes that there has been a “hyper-focus on regulation when it comes to Binance.” So far, the company has received official warnings in the UK, Japan, Cayman Islands, Hong Kong, Malaysia, and Thailand.  To counter scrutiny, the company has hired several former regulators and introduced mandatory know-your-customer (KYC) requirements for all its users. Just last month, Binance announced that it has hired Greg Monahan, former U.S. Treasury Criminal Investigator, as its Global Money Laundering Reporting Officer (GMLRO).

The post CFTC Examining Possible Insider Trading at Binance: Bloomberg appeared first on Cryptoknowmics-Crypto News and Media Platform.

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The U.S. Commodities Futures Trading Commission (CFTC) has expanded the scope of its investigations into Binance to include possible insider trading at the exchange.

CFTC Expands Investigation into Binance over Insider Trading

Binance, which was already being probed for selling Bitcoin-related derivates in the U.S., is now facing an inquiry over insider trading, according to a report from Bloomberg.

The report states that the CFTC has been reaching out to witnesses in recent weeks for more information on the matter. 

As the world’s largest cryptocurrency exchange, Binance sees transactions worth billions every day. That also provides the company with privileged information about transactions, which is being questioned by the regulators. 

For its part, the company stated that it has a “zero-tolerance” policy and a “strict ethical code” to prevent misconduct that could harm its customers. 

“At Binance, we have a zero-tolerance policy for insider trading and a strict ethical code related to any type of behavior that could have a negative impact on our customers or industry,” a Binance spokesperson said.

Binance’s regulatory woes in the U.S. extend beyond the CFTC investigation. The Department of Justice (DOJ) and the Internal Revenue Service (IRS) are also scanning the exchange for any links to money laundering and tax evasion in the country.

Binance’s Continued Regulatory Headache

Regulatory compliance has been an ongoing issue at Binance. The company’s founder and CEO Changpeng Zhao, also known as CZ, believes that there has been a “hyper-focus on regulation when it comes to Binance.”

So far, the company has received official warnings in the UK, Japan, Cayman Islands, Hong Kong, Malaysia, and Thailand. 

To counter scrutiny, the company has hired several former regulators and introduced mandatory know-your-customer (KYC) requirements for all its users. Just last month, Binance announced that it has hired Greg Monahan, former U.S. Treasury Criminal Investigator, as its Global Money Laundering Reporting Officer (GMLRO).

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Source: https://www.cryptoknowmics.com/news/cftc-examining-possible-insider-trading-at-binance/

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Blockchain

QTUM Technical Analysis: Price to Look for Support Near $10.31

QTUM Technical Analysis: Price to Look for Support Near $10.31

Rate this post QTUM is another decentralized platform that transfers smart contracts. It uses the Proof-of-Stake (PoS) consensus, which means the node operators are rewarded for validating transactions. Moreover, it is a DGP governed blockchain. Let us look at the technical analysis of QTUM. Past Performance On September 11, 2021, QTUM opened at $12.78. On September 17, 2021, QTUM closed at $12.50. Thus, in the past week, the QTUM price has decreased by approximately 2%. In the last 24 hours, QTUM has traded between $12.30-$13.07. https://www.tradingview.com/x/JHAWkjFs/ QTUM Technical Analysis At the time of press, the price is at $12.27, which is near its long-term support level. Moreover, the token is currently forming its base between the range of $15.29 and $10.08. A break-out or a break-down from this range will decide the future of QTUM. Till then, let us have a look at what the indicators are indicating; The MACD and signal lines are in the positive range, thus, suggesting a buy signal. However, a bearish crossover by the MACD line over the Signal line has occurred. Thus, being the lagging indicator, we will have to wait and watch if the trend reversal is on the horizon or not. Currently, the RSI indicator is at 51%. It is constantly facing rejection at the 44% mark and currently, is taking constant support at the 45% mark. Thus, selling pressures are slowly mounting. We have to wait and watch if it becomes strong enough to bring about a bullish trend reversal. Until then, we can assume it will bounce back from this level. On the daily chart, the OBV indicator has broken its long-term downtrend and picked an upward trajectory. Thus, buying volumes are higher than selling volumes. In short, when we look at all three oscillators, we can say that the price may continue to rise. However, we cannot rule out the possibility of a trend reversal. We have to wait and watch to see if an intermittent price rise is a corrective action or the beginning of a positive trend. Day-Ahead and Tomorrow Currently, the price is below the second Fibonacci pivot point of $15.03. If the bears take over from this position, then the price is likely to fall below the first, second, and third support levels of $12.21, $11.28, and $10.31, respectively. However, chances of it breaking out are higher. Thus, we can wait for another bull trigger and then expect the price to breakout. Post which, the price will test resistance at $14.35. If the price breaks this level on the upside, traders can take a long position, keeping the next target at $15.53.

The post QTUM Technical Analysis: Price to Look for Support Near $10.31 appeared first on Cryptoknowmics-Crypto News and Media Platform.

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QTUM is another decentralized platform that transfers smart contracts. It uses the Proof-of-Stake (PoS) consensus, which means the node operators are rewarded for validating transactions. Moreover, it is a DGP governed blockchain. Let us look at the technical analysis of QTUM.

Past Performance

On September 11, 2021, QTUM opened at $12.78. On September 17, 2021, QTUM closed at $12.50. Thus, in the past week, the QTUM price has decreased by approximately 2%. In the last 24 hours, QTUM has traded between $12.30-$13.07.

TradingView Chart

QTUM Technical Analysis

At the time of press, the price is at $12.27, which is near its long-term support level. Moreover, the token is currently forming its base between the range of $15.29 and $10.08. A break-out or a break-down from this range will decide the future of QTUM. Till then, let us have a look at what the indicators are indicating;

The MACD and signal lines are in the positive range, thus, suggesting a buy signal. However, a bearish crossover by the MACD line over the Signal line has occurred. Thus, being the lagging indicator, we will have to wait and watch if the trend reversal is on the horizon or not.

Currently, the RSI indicator is at 51%. It is constantly facing rejection at the 44% mark and currently, is taking constant support at the 45% mark. Thus, selling pressures are slowly mounting. We have to wait and watch if it becomes strong enough to bring about a bullish trend reversal. Until then, we can assume it will bounce back from this level.

On the daily chart, the OBV indicator has broken its long-term downtrend and picked an upward trajectory. Thus, buying volumes are higher than selling volumes.

In short, when we look at all three oscillators, we can say that the price may continue to rise. However, we cannot rule out the possibility of a trend reversal. We have to wait and watch to see if an intermittent price rise is a corrective action or the beginning of a positive trend.

Day-Ahead and Tomorrow

Currently, the price is below the second Fibonacci pivot point of $15.03. If the bears take over from this position, then the price is likely to fall below the first, second, and third support levels of $12.21, $11.28, and $10.31, respectively.

However, chances of it breaking out are higher. Thus, we can wait for another bull trigger and then expect the price to breakout. Post which, the price will test resistance at $14.35. If the price breaks this level on the upside, traders can take a long position, keeping the next target at $15.53.

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Source: https://www.cryptoknowmics.com/news/qtum-technical-analysis-price-to-look-for-support-near-10-31/

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News

Uniswap in a False Breakout, Resumes Downward Correction

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Sep 18, 2021 at 10:40 // News

The price of UNI is trying to move back up

The price of Uniswap (UNI) has fallen into the downtrend zone as the price reached the low of $25.08. As the price breaks below the moving averages, there is a likelihood of further downward movement in the price.

Today, the price of UNI is trying to move back up and reach the earlier high of $28. It is a difficult task for the buyers to regain the previous high of $28 as the altcoin is facing another rejection at $25.18. If the altcoin gets rejected at the recent high, the market will fall back to the low of $22. However, the uptrend will resume if the price finds support above $22. The $22 support has held in the price action so far. For the cryptocurrency to resume its upward momentum, buyers need UNI to hold above the moving averages.

Uniswap indicator reading

The altcoin is at level 47 of the Relative Strength Index for period 14. The cryptocurrency is in the downtrend zone and below the midline 50. The price of the crypto is below the moving averages, indicating a possible downward movement of the altcoin. UNI is above the 25% range of the daily stochastic. The cryptocurrency is in bullish momentum but faces rejection at the recent high.

UNIUSD(_Daily_Chart)_-_SEPT._18.png

Technical indicators:

Major Resistance Levels – $55.00 and $57.00

Major Support Levels – $22.00 and $20.00

What is the next direction for Uniswap

According to the 4-hour chart, the price of Uniswap (UNI) continues to be in a downward correction. The cryptocurrency is hovering between the $22 and $25 levels, having broken through the $25 resistance. The selling pressure is pushing the altcoin back into the range bound zone. Today, the bulls are retesting the resistance to break it. It is likely that altcoin will continue its downward correction.

UNIUSD(4_Hour_Chart)_-SEPT.18.png

Disclaimer. This analysis and forecast are the personal opinions of the author and are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by Coin Idol. Readers should do their own research before investing funds.

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Source: https://coinidol.com/uniswap-false-breakout/

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