Cryptos mixed for the day, Ethereum surprises with $68 million transaction

In aggregate since yesterday, the “fab five” — Litecoin, Bitcoin, Bitcoin Cash, Ethereum, and Ripple — were up 0.37%. Leading the way was Bitcoin, …

How Did the Fab Five Finish?

In aggregate since yesterday, the “fab five” — Litecoin, Bitcoin, Bitcoin Cash, Ethereum, and Ripple — were up 0.37%. Leading the way was Bitcoin, whose price is now around $10428.96 USD, which yielded holders a return of 2.6% from the day prior. On the flip side, the worst performer was Litecoin coming in at -2.3%; its price is now near $69.009315 USD. Out of the five coins observed here, three cryptocurrencies were up — which is a mixed sign for the crypto sector as a whole.

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Price Action to Watch

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None of the coins had moves that could be regarded as unusually large; all the moves were within the volatility ranges we’ve come to expect for each currency. Traders may also wish to bear in mind the following events going on regarding current price patterns:

    • Looking for an uptrend? The most reliable uptrends can be found in Litecoin, Bitcoin Cash and Ethereum.

    • If coins without a clear trend is your thing, consider XRP and Bitcoin. Those have not been in any clear trend over the past 14 days, and thus might be of interest to rangebound traders.
    • Momentum traders will want to note that Litecoin, XRP and Bitcoin Cash are getting very close to their 20-day moving average. Many technical traders view the 20-day average as a wall of resistance that can slow a trend until it is cleared — at which point the trend may accelerate.
    • It’s also worth noting that we had multiple coins — Bitcoin and Ethereum — cross their 20-day moving averages in the preceding day. This is a level often watched by momentum traders.

Insights from the Blockchains

Ripple recorded 902,250 transactions on its blockchain over the past 24 hours; that’s the best of the bunch, and about 34% over Ethereum, which had the second-most transactions recorded on its chain. Ripple’s transaction fee was also less than Ethereum’s, suggesting transaction fees might be a key reason why users are preferring Ripple. Ethereum was the coin with the largest transaction across all blockchains yesterday; the largest transaction on its chain was valued at $68,474,797 US dollars. This is a surprise in the sense that Bitcoin is typically the chain with the largest transaction for any given day, followed by Bitcoin Cash and Ripple; Ethereum’s emergence here is thus a rarity, and perhaps worthy of deeper inspection.

Article by SixJupiter

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Axa XL covers cryptocurrency security firm

… XL will provide contractual liability insurance for Hoyos Integrity Corp. in the event of a breach of the technology security firm’s cryptocurrency wallet, …

Axa XL will provide contractual liability insurance for Hoyos Integrity Corp. in the event of a breach of the technology security firm’s cryptocurrency wallet, the unit of Axa SA announced Thursday.

The insurance covers Fort Lauderdale, Florida-Hoyos for defined amounts paid out in the event of a specific, breach of the digital wallet’s security system, Axa XL said the statement said.

Hoyos offers a so-called digital hot wallet, which is connected to the internet and allows users to conduct cryptocurrency transactions. The wallet is compatible with bitcoin, litecoin, ethereum and other cryptocurrencies, the statement said.

The plan provides for reimbursement to a Hoyos Wallet user for up to $1 million in the event of a breach, the statement said.

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Ethereum network has opened doors to biggest decentralized fundraising, says eToro’s Mati …

Ethereum’s Vitalik Buterin also revealed that the Ethereum’s blockchain was full and Mati Greenspan shared his thoughts on the same. He said,.

Recently, one of Ethereum’s long-time supporter Union Square Ventures’ co-founder Fred Wilson expressed his disappointment towards the Vitalik Buterin-led cryptocurrency. Wilson detailed how Ethereum’s network has paved the way to several important phenomenons in the industry including smart contracts, proof of stake, programmable trust and a lot more. However, Ethereum’s scaling issues have been a major pullback for the network.

In a recent interview, eToro’s senior market analyst Mati Greenspan spoke about the same and suggested that the Ethereum network has opened doors to biggest decentralized fundraising which in turn has helped several new business models for raising capital. He also believes that Ethereum has a lot of potential in the long term.

He further highlighted the fact that the network does have scaling issues but he believes that they would eventually get over those issues. However, he is still skeptical about investing in Ethereum because of its high inflation rate, similar to that of XRP. About 13,000 new ETH is created on a daily basis and currently the demand from the developers isn’t very strong, he added.

The previous rise in ETH’s price back in 2017 led to a surge in the usage of the network which in turn contributed to higher value per token. Greenspan suggested that the network isn’t witnessing the same kind of surge that happened back in 2017, to support the high inflation rate of ETH.

Additionally, he compared Bitcoin with Ethereum’s current scenario and suggested that the king coin has a much lower level of inflation. He also pointed out Bitcoin’s hash rate which is six times higher than it was during the time of its ATH along with the transaction volume which is about $1.4 billion per day which higher than it was in July. Greenspan further suggested that Bitcoin is still being used for its designed intent of transferring value from one person to another.

Ethereum’s Vitalik Buterin also revealed that the Ethereum’s blockchain was full and Mati Greenspan shared his thoughts on the same. He said,

“If the blockchain is almost full, uh, that means that a lot of people are still using it, right? So let’s not, let’s not lose sight of what’s happening in, in real-time.”

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Shirly is a full-time member of the Editorial team of AMBCrypto. She is a Finance major and understands that blockchain is the key to a decentralized and equal market. Her previous work can be found on Medium, Blogger and Steemit. She held value in Bitcoin and Ether prior to being a writer here to “understand the FOMO” in the retail cryptocurrency space. Shirly is available at shirly@ambcrypto.com.

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Cryptos mixed for the day as Litecoin leads the way up 3.84%

Since yesterday, the top five cryptocurrencies — Litecoin, Bitcoin, Bitcoin Cash, Ethereum, and Ripple — have gone up 0.54% in aggregate. Out of the …

Recap of the Top Five Cryptos

Since yesterday, the top five cryptocurrencies — Litecoin, Bitcoin, Bitcoin Cash, Ethereum, and Ripple — have gone up 0.54% in aggregate. Out of the aforementioned five, Litecoin gave investors the best daily return; it was up 3.84%, which has its price now near $71.475586 USD. As for the worst-performing crypto out of the Big Five, yesterday that was Bitcoin; it came in at down 1.99%, which drove its price to around $10109.46 USD. Out of the five coins observed here, two cryptocurrencies were up — which is a mixed sign for the crypto sector as a whole.

Interested in trading these currencies? Some brokers to try: CoinDirect, Gate, Yobit, Stex, Binance, DDEX

Price Action to Watch

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None of the coins had surprising moves, in the sense that the prices fluctuated within the typical range they have been fluctuating between over the past few weeks. Traders may also wish to bear in mind the following events going on regarding current price patterns:

    Looking for an uptrend? The most reliable uptrends can be found in Bitcoin Cash and Ethereum.

  • Currencies without a clear trend over the past two weeks are XRP, Litecoin and Bitcoin. If you prefer choppy, rangebound markets, they might be up your alley.
  • Momentum traders will want to note that XRP, Bitcoin Cash and Ethereum are getting very close to their 20-day moving average. Many technical traders view the 20-day average as a wall of resistance that can slow a trend until it is cleared — at which point the trend may accelerate.
  • Also of note is that Litecoin and Bitcoin crossed their 20-day moving averages yesterday.

Insights From Transaction Data

Ripple recorded 881,543 transactions on its blockchain over the past 24 hours; that’s the best of the bunch, and about 21% over Ethereum, which had the second-most transactions recorded on its chain. Ripple has a transaction fee less than the transaction fee of Ethereum, which may indicate that transaction fees might be a key reason why users are preferring Ripple. Over the past 24 hours, the largest transaction across all blockchains occurred on Bitcoin Cash, coming in at a value of $35,977,192 US dollars.

Article by SixJupiter

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Winklevoss’ Gemini Launches Custody Service

The platform is currently compatible with 18 digital assets, including bitcoin, Bitcoin Cash, Ethereum and litecoin. In July it was known that Gemini had …

Gemini, a New York-based cryptocurrency exchange founded in 2014 by the Winklevoss brothers, has just launched Gemini Custody, its own custody service.

According to the platform’s press release which has been shared with Ihodl, this new service will allow its customers to check balances, download account statements, initiate withdrawals and grant auditors read-only access to confirm balances, transactions and activities.

In addition, users will be able to trade their assets in custody directly without the need to transfer them from cold wallets.

The platform is currently compatible with 18 digital assets, including bitcoin, Bitcoin Cash, Ethereum and litecoin.

In July it was known that Gemini had applied for a broker-dealer license to the Financial Industry Regulatory Authority (FINRA).

Last month Ihodl reported that Gemini had started to offer its services in Australia.

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