Armando Morrison, Author at Coinedict

Ethereum (ETH) Corrects Lower, Why 100 SMA Could Trigger Fresh Rally

Armando Morrison4 years ago2 years ago04 mins

Ethereum extended its rise and traded close to $2,900 against the US Dollar. ETH price is correcting gains and it is likely to remain strong above the 100 hourly SMA Ethereum failed to clear the $2,900 level and it corrected lower from $2,885. The price is still holding the $2,700 support and the 100 hourly simple moving average. There was a break below a short-term bullish trend line with support near $2,750 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a strong increase as long as there is no break below the 100 hourly SMA and $2,650. Ethereum Price Is Holding Support Yesterday, ethereum started a fresh increase above the $2,650 resistance zone. ETH gained pace above the $2,700 and $2,750 levels. There was also a break above the $2,800 level and the 100 hourly simple moving average. However, the price failed to continue higher above $2,900. A high was formed near $2,886 and the price recently started a fresh decline. There was a break below the $2,800 support zone. Ether price even traded below the 23.6% Fib retracement level of the upward move from the $2,530 swing low to $2,996 high. There was a break below a short-term bullish trend line with support near $2,750 on the hourly chart of ETH/USD. The pair is now testing the 50% Fib retracement level of the upward move from the $2,530 swing low to $2,996 high. Source: ETHUSD on TradingView.com It is also holding the $2,700 support and the 100 hourly simple moving average. An initial resistance on the upside is near the $2,780 and $2,800 levels. The first major resistance is near the $2,850 level. The main breakout resistance is now forming near the $2,900 level. A close above the $2,900 level will most likely call for a test of the $3,000 barrier in the near term. Dips Supported in ETH? If Ethereum fails to clear the $2,800 and $2,850 resistance levels, it could extend its decline. An initial support on the downside is near the $2,700 level. The main support is now forming near the $2,680 level and the 100 hourly SMA. A downside break below $2,680 and $2,650 could open the doors for a larger decline. In the stated case, ether price might revisit USD 2,500. Technical Indicators Hourly MACD – The MACD for ETH/USD is slowly losing pace in the bearish zone. Hourly RSI – The RSI for ETH/USD is currently below the 50 level. Major Support Level – $2,650 Major Resistance Level – $2,850

Bitcoin Faces Another Rejection, Here’s What Could Trigger Nasty Decline

Armando Morrison4 years ago2 years ago04 mins

Bitcoin price climbed above the $38,000 resistance against the US Dollar, but it failed near $39,500. BTC is correcting lower and it might dive if it breaks the $37,000 support. Bitcoin failed to gain momentum for a break above $39,500 and $40,000. The price is currently trading above $37,000 and the 100 hourly simple moving average. There is a major rising channel forming with support near $37,400 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair must stay above $37,000 and the 100 hourly SMA to avoid a major decline. Bitcoin Price Trims Gains Bitcoin started a decent increase above the $37,500 resistance zone. BTC even broke the $38,000 resistance level and settled well above the 100 hourly simple moving average. The bulls gained strength for a push above the $39,000 level. However, they struggled to a move towards the $40,000 level. The price topped near the $39,500 level and it recently started a fresh decline. There was a break below the $38,500 and $38,000 levels. Bitcoin traded below the 50% Fib retracement level of the upward move from the $35,925 swing low to $39,500 high. It is currently trading above $37,000 and the 100 hourly simple moving average. An immediate support on the downside is near the $37,500 level. There is also a major rising channel forming with support near $37,400 on the hourly chart of the BTC/USD pair. The channel support is close to the 61.8% Fib retracement level of the upward move from the $35,925 swing low to $39,500 high. Source: BTCUSD on TradingView.com On the upside, an immediate resistance is near the $38,200 level. The first major resistance is near the $39,500 level. The main resistance is still near the $40,000 zone. A clear break above the $40,000 level could set the pace for a larger increase. Downside Break in BTC? If bitcoin fails to clear the $38,500 resistance, it could extend its decline. An initial support on the downside is near the $37,500 level. The first major support is near the $37,200 level and the 100 hourly simple moving average. If there is a downside break below the $37,200 support and $37,000, the price could start a sharp decline towards $35,000. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level. Major Support Levels – $37,200, followed by $37,000. Major Resistance Levels – $38,500, $39,500 and $40,000.

Why Bitcoin Price Could Be Destined To Retrace To $14K

Armando Morrison4 years ago2 years ago05 mins

Bitcoin price just saw the worst high timeframe correction in years, falling sharping by 50% and instilling fear across the market. The turn in sentiment has everyone guessing where the now bearish cryptocurrency could fall to, but according to past cycles, it could get a lot worse before it gets better. Here’s more on why Bitcoin price could fall back toward $14K before the bear phase is over. Bitcoin Yearly Candle Turns Bearish, But What About The Bull Market? The arguments are all similar: if that was the top in Bitcoin this was the shortest and weakest bull market yet. The cryptocurrency would have fallen short of expectations by hundreds of thousands of dollars. That thought alone could result in some extremely bearish sentiment – even more negative than what’s going on across the market currently. Related Reading | Bulls Beware: Bears Have Only Now Taken Control Over Bitcoin There are calls for $20K BTC as the bottom, which would be another 50% from here. Another sizable drop seems unlikely given the potential the asset has, but as a “highly speculative” asset Bitcoin is extremely volatile. That volatility could result in a full retracement back to $14K. The yearly candle never touched the previous support level | Source: BLX on TradingView.com Why BTC Could Be Headed Back To $14K Per Coin This Year In technical analysis, the highest timeframes always matter the most. Bitcoin was bullish on the daily, but the weekly MACD turning bearish signaled the top before the drop even began. Monthly timeframes are even more dominant, and there’s a bearish evening star reversal pattern now confirmed on the monthly chart. Getting even more distant, things could be even more bearish. The short yearly candle and large wick to only the upside is unlike any other annual Bitcoin price candle before it. The candle is currently bearish, but the yearly chart could say more. In the past, the yearly candle to follow a breakout always comes back to nearly retest the previous yearly close that resulted in a bear market. It happened in the last two bull markets, but hasn’t during the current bull market. This time is clearly different so far, but will it stay that way? The same chart on weekly timeframes makes the picture clear | Source: BLX on TradingView.com If Bitcoin price were to retrace to the former yearly open before the bear market began, it would take the leading cryptocurrency by market cap back to $14K, which would be a roughly 78% retrace. 78% is significant for a number of reasons. For one, it falls short of the 80%+ parabolic curve retracement requirements, so it isn’t yet quite a bear market by BTC standards. Related Reading | Bitcoin Bear Market Comes Down To Pivotal June Close 78.6% is a key Fibonacci retracement level. Bitcoin price already retraced to the 50% mark, with 61.8% being the middle ground that also could act as a stopping point. Finally, 78% would closely match the 2013 retrace that crypto investors should be hopeful repeats. If it does, the final leg up of the bull market could be mind-blowing before a more extend bear market takes place. Featured image from iStock Photo, Charts from TradingView.com

Bitcoin Still Struggling Near $38K, Here’s Why 100 SMA Is The Key

Armando Morrison4 years ago2 years ago04 mins

Bitcoin price made another attempt to clear the $38,000 resistance against the US Dollar, but it failed. BTC is correcting lower, but it might find bids near the 100 hourly SMA. Bitcoin is still facing a strong resistance near the $38,000 zone. The price is currently trading well above $36,500 and the 100 hourly simple moving average. There is a connecting bullish trend line forming with support near $36,400 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair must stay above $36,000 and the 100 hourly SMA to remain in a positive zone. Bitcoin Price Eyes Fresh Increase Bitcoin started a decent increase above the $36,500 resistance zone. BTC even broke the $37,000 resistance level and settled well above the 100 hourly simple moving average. The bulls made another important attempt to surpass the $38,000 barrier. However, they failed to gain strength and a new weekly high was formed near the $38,200 level. The price is now correcting lower and it is trading below the $37,800 level. There was a break below the 23.6% Fib retracement level of the recent wave from the $35,928 swing low to $38,200 high. An immediate support on the downside is near the $37,000 level. Source: BTCUSD on TradingView.com The 50% Fib retracement level of the recent wave from the $35,928 swing low to $38,200 high is also near the $37,000 zone to act as a support. There is also a connecting bullish trend line forming with support near $36,400 on the hourly chart of the BTC/USD pair. On the upside, an immediate resistance is near the $37,600 level. The first major resistance is near the $37,850 level. The main barrier is still near the $38,000 zone. A clear break above the $38,000 zone is needed for a push towards the $40,000 level. Downside Break in BTC? If bitcoin fails to clear the $38,000 resistance, it could correct lower. An initial support on the downside is near the $37,000 level. The first major support is near the $36,500 level and the 100 hourly simple moving average. If there is a downside break below the $36,500 support and then the trend line, the price could start a major decline in the near term. Technical indicators: Hourly MACD – The MACD is slowly gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now just below the 50 level. Major Support Levels – $36,500, followed by $36,000. Major Resistance Levels – $37,800, $38,000 and $40,000.

Bears Have Only Now Taken Control Over Bitcoin

Armando Morrison4 years ago2 years ago05 mins

Debate surrounding if the Bitcoin bull market is over due to the recent correction is at a full boil, while many are already searching for a bottom of the current downtrend. Bulls must be careful not to jump the gun due to buying the dip working so well over the last several months. Because bears have only just now taken control of Bitcoin, according to a trend strength measuring indicator. Analyzing The Crypto Correction And The Possible End Of The Bull Market Bitcoin price is down by more 50% after a deep drop over the last month – among the worst monthly candles on record were left behind in the wake. After such a steep correction and the last bull market never allowing more than a 37% retracement, more traders are looking for a bottom to buy rather than a bounce to short. Related Reading | Two Paths Of A Bitcoin Bull Run, And If A Bear Phase Is Next The idea the bull market will be back on so soon could lead to losses and a painful realization that this cycle is very different this time around. That’s according to the Average Directional Index, which suggests bears only just got back control over Bitcoin, and likely won’t let up anytime soon. The Average Directional Index shows where bears took over | Source: BTCUSD on TradingView.com The Average Directional Index Says Bears Now Taken Over Bitcoin The weekly Bitcoin price chart above shows the many times bears took over the cryptocurrency trend according to the trend strength measuring indicator. Bullish impulses are always the strongest, which send the Average Directional Index itself rising to the highest readings historically. However, the Directional Movement Index indicators that work with the ADX indicate when bears or bulls are in control of the trend. Related Reading | Market Timing: Why Bitcoin Could Sweep Lows Before A Bounce In this case, bears have just taken over Bitcoin after an entire year. So while bulls are expecting an immediate bounce back to highs, a correction anything less than three months long doesn’t make much sense compared to the length of past bear phases. Instead, with each passing bear phase, the following bullish impulse gets stronger, suggesting that when bulls do finally take back control, bears will have all but been eliminated, allowing the cryptocurrency to rise to the all-time highs that investors have been expecting – upwards of around $100,000 per coin or higher. With bears winning the battle currently, it doesn’t mean they’re totally in charge for the long term. Even during past bear phases, bulls did at times regain the upper hand causing a bounce. Until the current bear phase has ended, shoring those bounces if the right way to go, and leave dip buying for later when the new uptrend is confirmed in a similar fashion via the ADX. Featured image from iStockPhotos, Charts from TradingView.com

Unslashed Launches with $1.23 Billion Covered

Armando Morrison4 years ago2 years ago08 mins

Key Takeaways Unslashed has now launched after closing its private beta. Unslashed is now protecting over $1 billion worth of capital across DeFi and CeFi. The project provides cover against a variety of risks including exchange hacks, smart contract failure, and stablecoins losing their pegs. Share this article Unslashed has launched. The decentralized insurance protocol is currently covering over $1.23 billion worth of value locked across DeFi and crypto exchanges. Protecting Investments with Unslashed Unslashed, a popular decentralized insurance protocol on Ethereum, has launched. The project had been running a private beta, during which it provided cover for over $1.23 billion worth of digital assets. The protection was provided to assets locked in DeFi protocols and on centralized cryptocurrency exchanges; it offers protection for funds on Coinbase, Binance, Bitmex but also on Synthetix, Bancor, and Balancer pools. Unslashed is aiming to provide decentralized insurance cover both to individual and institutional funds. A recent report from Ciphertrace showed that more than $400 million were stolen, hacked, or otherwise lost both from DeFi protocols and hacked exchanges. These statistics are expected to continue rising as cryptocurrencies gain value and new investors, unaware of the risks, lose their funds. Risks like smart contract hacks, stablecoins losing their $1 value, exchange hacks, and oracle failures can be covered by Unslashed’s flexible coverage. Users can also stake their crypto assets on Unslashed in exchange for the insurance premiums, effectively creating a decentralized marketplace for risk. In a press release, Unslashed founder Marouane Hajji said: “Many cryptocurrency users are not aware of how different this space is compared to traditional finance. Though many centralized exchanges have insurance against hacks or theft, the funds kept in reserve are often only sufficient to cover a fraction of users who could be impacted, and so it is incumbent upon users to protect their assets. At Unslashed, we are pleased to launch our diverse offerings of insurance products covering centralized exchanges, DeFi protocols, stablecoin pegs, and more.” In Unslashed, capital providers and policy holders (those who request coverage) naturally create an insurance price based on their assessments of the risk of the protocol or exchange the funds are locked on. Capital providers will be able to invest in a diversified bucket to reduce their overall risks if a particular protocol is hacked. The decentralized insurance market has at least one other big player today. Unslashed’s main competitor is Nexus Mutual, which works like a mutual fund that provides cover to its members. The DeFi insurance field is likely to grow in the future as more sophisticated actors enter the space. There are plenty of signs to suggest institutions are dipping their toes into the technology. If they jump in en masse, that could be promising for projects like Unslashed. Disclaimer: The author held USF and several other cryptocurrencies at the time of writing. This news was brought to you by ANKR, our preferred DeFi Partner. Share this article The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information. You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities. See full terms and conditions. Nexus Mutual Unveils Insurance for Binance Smart Chain, Polkadot, Cosm… The Ethereum-native people-powered alternative to insurance, Nexus Mutual, is expanding its services to other chains. Nexus Mutual Follows the Money Using Nexus Mutual, users can share risk through a decentralized… What is Kusama? How Polkadot’s playground accommodates blockchain de… Kusama is relatively young and was founded in 2019 by Dr. Gavin Wood, who also founded the Web3 Foundation and co-founded Ethereum. The team behind Kusama is essentially the same… Cover Protocol Hacker Makes Off With Millions, Binance Halts Token Tra… A hacker has exploited a bug in the incentives smart contract of Cover Protocol. This has allowed the hacker to get away with 11,761 COVER tokens, worth $3.62 million at… Sam Bankman-Fried, Andre Cronje Rescue DeFi Insurance Protocol Like Sushiswap, leading players in the DeFi sector have taken over insurance protocol SAFE, which suffered a setback due to early dumping and the inexperience of developers. Making Peace to…

Here’s Why Ethereum (ETH) Could Surge Above $2.7K and Test $3K

Armando Morrison4 years ago2 years ago04 mins

Ethereum is stable above the $2,500 support zone and the 100 hourly SMA against the US Dollar. ETH price is likely to rally if there is a clear break above $2,700. Ethereum is trading in a positive zone above the $2,500 and $2,520 support levels. The price is now trading above $2,600 and the 100 hourly simple moving average. There was a break above a short-term contracting triangle with resistance near $2,600 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a steady increase if it breaks the $2,750 resistance zone in the near term. Ethereum Price Is Showing Positive Signs Yesterday, ethereum gained pace above the $2,500 resistance zone. ETH broke the $2,600 resistance zone and it settled nicely above the 100 hourly simple moving average. The price even traded close to the $2,750 level and a high was formed near $2,746. Recently, there was a downside correction below the $2,700 level. Ether declined below the 23.6% Fib retracement level of the upward move from the $2,275 swing low to $2,746 high. The price tested the $2,500 support zone and the 100 hourly simple moving average. It also tested the 50% Fib retracement level of the upward move from the $2,275 swing low to $2,746 high. Source: ETHUSD on TradingView.com It is now rising and it reclaimed the $2,600 level. There was a break above a short-term contracting triangle with resistance near $2,600 on the hourly chart of ETH/USD. The pair is now facing resistance near the $2,650 level. The first major resistance is near the $2,700 level. The main breakout resistance is now forming near the $2,750 level. A close above the $2,750 level could start a major increase towards the $2,850 level or even $3,000 in the near term. Dips Supported in ETH? If Ethereum fails to clear the $2,700 and $2,750 resistance levels, it could start a downside correction. An initial support on the downside is near the $2,550 level. The main support is now forming near the $2,500 level and the 100 hourly SMA. A downside break below $2,500 may possibly put a lot of pressure on the bulls. The next key support is near the $2,450 level and a connecting bullish trend line. Technical Indicators Hourly MACD – The MACD for ETH/USD is slowly gaining pace in the bullish zone. Hourly RSI – The RSI for ETH/USD is currently above the 50 level. Major Support Level – $2,500 Major Resistance Level – $2,750

Bitcoin Steadies above 100 SMA, Here’s How BTC Could Start Fresh Increase

Armando Morrison4 years ago2 years ago04 mins

Bitcoin price corrected lower from the $38,000 resistance zone against the US Dollar. BTC is holding the 100 hourly SMA and it could start a fresh increase in the near term. Bitcoin is holding a couple of important supports near the $36,000 zone. The price is currently trading nicely above $36,000 and the 100 hourly simple moving average. There is a key declining channel forming with resistance near $36,800 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a major increase if it breaks the $37,000 resistance zone. Bitcoin Price Remains Supported Bitcoin gained pace above the $35,500 resistance and extended its upward move. BTC even broke the $37,000 resistance level and the 100 hourly simple moving average. However, the bulls struggled to clear the $38,000 resistance zone. A high was formed near $37,900 and the price recently corrected lower. There was a break below the $37,000 support level. Bitcoin declined below the 23.6% Fib retracement level of the recent upward move from the $34,225 swing low to $37,900 high. The price is now trading nicely above $36,000 and the 100 hourly simple moving average. There is also a key declining channel forming with resistance near $36,800 on the hourly chart of the BTC/USD pair. The pair is also finding bids near the 50% Fib retracement level of the recent upward move from the $34,225 swing low to $37,900 high. Source: BTCUSD on TradingView.com On the upside, an immediate resistance is near the $36,800 level. The first major resistance is near the $37,000 level. A clear break above the $37,000 zone could set the pace for a fresh high above $37,900. The next major resistance is near the $38,800 level, above which the price could test the $40,000 zone. Downside Break in BTC? If bitcoin fails to clear the $37,000 resistance, it could correct lower. An initial support on the downside is near the $36,200 level. The first major support is near the $36,000 level and the 100 hourly simple moving average. If there is a downside break below the $36,000 support, the price could start another decline. In the stated case, the price is likely to dive towards the $35,000 support. Technical indicators: Hourly MACD – The MACD is slowly gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is just above the 50 level. Major Support Levels – $36,000, followed by $35,500. Major Resistance Levels – $37,000, $38,000 and $40,000.

Bitcoin

Market Timing: Why Bitcoin Could Sweep Lows Before A Bounce

Armando Morrison4 years ago2 years ago05 mins

Bitcoin price is consolidating above $35,000, trying to build enough support to make an attempt at returning to local highs. Once there, if or not the bull run is still on will become a lot clearer. But before that happens, there could be one more deep sweep of lows, according to a highly accurate market timing indicator. Here’s what the TD Sequential indicator – created by market timing wizard Thomas Demark – says about the current price action and what to expect in the days ahead. Why Bitcoin Price Could Sweep Lows Before A Bounce Is Here The top cryptocurrency by market cap just saw the close of one of the worst monthly candles on record, calling into question if the bull run market structure is in tact, or if the cycle has fizzled out long before anyone anticipated. Each market cycle has been lengthening thus far, yet this recent cycle would be capped off at only 26 months since the bottom. Most signs suggest it just isn’t yet time for the greater underlying trend to have ended. Related Reading | Five Signs That The Bitcoin Bottom Is In Bitcoin price is now building support after a vicious selloff that wiped more than $30,000 out from the price per coin. Surely that’s enough downside – right? According to the TD Sequential indicator on multiple timeframes, price action could take the first ever cryptocurrency another level lower, sweeping lows before a meaningful bounce. There is an 8 count on most timeframes on the TD Sequential | Source: BTCUSD on TradingView.com The Wizard Of Market Timing: All About The TD Sequential The TD Sequential indicator is a market timing indicator created by Thomas Demark. All of Demark’s highly regarded tools are focused on timing, and less-so the price of Bitcoin or other assets. The timing is based on a sequence of candles resulting in a buy or sell signal when a nine count is reached. An eight count can sometimes produce the bounce that crypto holders are hopeful for, however, a “perfected” nine setup is what they really want. Related Reading | Lack Of “Capitulation” Volume Suggests Bitcoin Is Doomed To More Downside The reason why crypto investors won’t like the setup that’s to come, is because for the nine candle to “perfect” the candle must fall deeper than the lows of the previous candles. Eight counts can also perfect and prompt a reversal, but because there’s so many eight counts across multiple timeframes on Bitcoin price, the probability of more downside and one of these candles perfecting is just too high to ignore. Aside from the buy signal that’s to come, technicals are extremely bullish on Bitcoin. Is this the “perfect” opportunity to buy one last time? Featured image from iStockPhoto, Charts from TradingView.com

Panther Protocol Raises $8M for DeFi Privacy Solution

Armando Morrison4 years ago2 years ago010 mins

Key Takeaways Panther Protocol has raised over $8 million from over 140 investors for its privacy-focused DeFi solution. The protocol will allow users to mint 1:1 collateralized privacy-preserving synthetic assets. Leveraging zk-SNARKs, such assets obfuscate all the information involved in an on-chain trade. Share this article Panther Protocol, an end-to-end privacy protocol that can be used across DeFi, has raised $8 million from over 140 investors in a private token sale. Panther Offers DeFi Privacy Panther Protocol, one of DeFi’s latest privacy-preserving solutions, has raised $8 million in a funding round. The raise came from over 140 participants, including Alphabit Fund, Arcanum Capital, Black Dragon, DeepVentures, Defiants, Ellipti, Moonwhale, Protocol Ventures, Kosmos VC, Rarestone Capital, and Titans Ventures. The funds will be used for the development of the protocol, which is interoperable with a range of DeFi applications. Privacy is considered one of DeFi’s missing jigsaw pieces today. While DeFi brings the world a permissionless and non-custodial financial system, many of those looking to preserve their identity find it cumbersome to use. When a person’s real identity is linked to a blockchain address, all of the transactions they make through that address are easily traceable. For example, many high-net-worth Uniswap traders find it difficult to execute their trades efficiently due to the visibility of Ethereum. Such large traders face the risk of being front-run by other traders or bots. Panther is hoping to solve those problems. As planned in its roadmap, the protocol will allow users to deposit cryptocurrencies from a variety of chains and mint collateralized synthetic assets called zAssets. Each zAsset will be private. According to the team, anyone can issue private synthetics of various digital tokens, including zBTC, zETH, and zUSDT. These tokens can then be used across various DeFi applications. Oliver Gale, Panther Protocol CEO and co-founder, said in a press release: “We believe zAssets will become an ever-expanding asset class for users who want their transactions and strategies the way they should always have been: private. Stablecoins, utility tokens and NFTs will all become infused with privacy.” The Power of zk-SNARKs zAssets will use zk-SNARKs, a type of cryptographic proof that shows someone possesses a piece of information without revealing it. The same technology is used in one of the leading privacy coins, Zcash. Such assets obfuscate the information involved in an on-chain trade, including wallet addresses and the assets exchanged. That way, all of the metadata linked to blockchain transactions remains private. The project will support zAssets across several blockchains, known as “peerchains.” Panther’s peerchains will initially include Ethereum, Polkadot, Solana, Cosmos, Flare, Binance Smart Chain, and Avalanche. Besides zAssets, the project also plans to implement several dark pools called “Panther Pools.” These will be used to gather liquidity and execute trades. Those who contribute liquidity to the pools, known as “privacy miners,” will be rewarded with the Panther network’s native token, ZKP. As per the project’s litepaper, Panther Pools will enable institutional and retail users to obfuscate and transact compliantly on peerchains using the help of zAssets. If successful, the project will be competition for several existing solutions that achieve privacy with Ethereum’s smart contracts. These include Ethereum bridge networks such as Secret Network and Incognito, as well as transaction mixers like Tornado.Cash. Panther can also be deployed in a compliant way on any public blockchain through “selective private disclosures” so that financial privacy can be balanced with regulations. Following the fundraiser, the team will offer its ZKP tokens in a public sale. This news was brought to you by ANKR, our preferred DeFi Partner. Share this article The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information. You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities. See full terms and conditions. Privacy Coins Are Unstoppable, Says Copenhagen Business School According to a study published in the Journal of Information Technology, attempting to ban private cryptocurrencies would be nearly impossible for regulators due to the tokens’ privacy-preserving, decentralized nature. Privacy… Incognito Enables Anonymous Uniswap Trading Uniswap, the most used decentralized exchange (DEX) on Ethereum, has a newly updated private mode. Traders can benefit from anonymity by using the protocol with Incognito, a platform designed to… How to Use Tornado.cash, Ethereum’s Privacy Solution Ethereum currently processes around 1 million transactions daily. Due to the blockchain’s open nature, however, every address associated with a transaction on the network gets recorded on a public ledger…. What is Polygon (MATIC): Ethereum’s Internet of Blockchains In terms of both decentralized app (DApp) development and adoption, no blockchain has been more successful than Ethereum (ETH). But despite its relative success, the Ethereum network still contains several…

Ethereum Gains Traction, Why ETH Could Soon Retest $3K

Armando Morrison4 years ago2 years ago04 mins

Ethereum gained pace above the $2,550 resistance zone against the US Dollar. ETH price is trading in a positive zone and it could rally if it breaks the $2,750 resistance. Ethereum is slowly moving higher and it broke the key $2,500 resistance zone. The price is now trading well above $2,500 and the 100 hourly simple moving average. There is a key rising channel forming with support near $2,640 on the hourly chart of ETH/USD (data feed via Kraken). The pair could accelerate higher if it breaks the main $2,750 resistance zone in the near term. Ethereum Price Is Gaining Momentum Ethereum started a decent upward move from the $2,400 support zone. ETH climbed above the $2,480 and $2,500 resistance levels. There was also a clear break above the $2,650 resistance zone. A high was formed near $2,746 before the price started a downside correction. There was a break below the $2,700 and $2,650 levels. Ether declined below the 23.6% Fib retracement level of the upward move from the $2,277 swing low to $2,746 high. It is now trading well above $2,500 and the 100 hourly simple moving average. There is also a key rising channel forming with support near $2,640 on the hourly chart of ETH/USD. Source: ETHUSD on TradingView.com On the upside, an immediate resistance is near the $2,700 level. The first major resistance is near the $2,750 level and the recent higher. A close above the $2,750 level could start a major increase towards the $2,850 level. The next major resistance is near the $3,000 zone. Dips Limited in ETH? If Ethereum fails to clear the $2,700 and $2,750 resistance levels, it could start a downside correction. An initial support on the downside is near the $2,600 zone and the channel trend line. A downside break below the channel support could push the price towards the $2,500 support and the 100 hourly SMA. The 50% Fib retracement level of the upward move from the $2,277 swing low to $2,746 high is also near the $2,510 level. The next key support is near the $2,450 level. Any more losses could lead the price towards the $2,400 support in the near term. Technical Indicators Hourly MACD – The MACD for ETH/USD is slowly gaining pace in the bullish zone. Hourly RSI – The RSI for ETH/USD is currently above the 50 level. Major Support Level – $2,500 Major Resistance Level – $2,750

Bitcoin Grinds Higher, Here’s Why Dips Turned Attractive

Armando Morrison4 years ago2 years ago04 mins

Bitcoin price started a steady increase above the $36,000 resistance against the US Dollar. BTC even broke $37,000 and it is now showing positive signs. Bitcoin gained bullish momentum above the $35,000 and $36,000 resistance levels. The price is currently trading well above $36,000 and the 100 hourly simple moving average. There was a break above a major bearish trend line with resistance near $36,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could correct lower, but the bulls are likely to remain active near $36,000. Bitcoin Price Gains Pace Bitcoin formed a base above the $34,000 zone and it started a steady increase. BTC broke the $35,000 and $36,000 resistance levels to move into a positive zone. There was a break above a major bearish trend line with resistance near $36,000 on the hourly chart of the BTC/USD pair. The pair climbed above the 50% Fib retracement level of the key decline from the $40,420 swing high to $33,630 low. The price even broke the $37,000 resistance zone. However, the bears are fighting near the $38,000 level. It seems like the 61.8% Fib retracement level of the key decline from the $40,420 swing high to $33,630 low is acting as a resistance. Source: BTCUSD on TradingView.com On the upside, an immediate resistance is near the $37,500 level. The first major resistance is near the $38,000 level and the recent high. A clear break above the $38,000 zone could set the pace for a larger increase. The next major resistance is near the $40,000 level. An intermediate resistance could be near the $38,800 level. Dips Supported in BTC? If bitcoin fails to clear the $38,000 resistance, it could correct lower. An initial support on the downside is near the $36,500 level. The first major support is near the $36,000 level and the 100 hourly simple moving average. If there is a downside break below the $36,000 support, the price could decline towards the $35,200 support zone in the coming sessions. Any more losses could clear the path for a retest of the $34,000 level. Technical indicators: Hourly MACD – The MACD is slowly losing pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is sliding towards the 50 level. Major Support Levels – $36,000, followed by $35,500. Major Resistance Levels – $37,500, $38,000 and $40,000.