Category Archive : Ethereum Classic

Ethereum Classic Provides A Trade For Both Bulls, Bears Until It Breaks This Range – Ethereum Classic – United States Dollar ($ETC)

Ethereum Classic (CRYPTO: ETC) has, so far, failed to gain the steam Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO ETH) gathered to erase the losses caused by the Sept. 7 cryptocurrency flash crash that coincided with El Salvador adopting Bitcoin as legal tender.

Ethereum Classic has been stuck within a tight sideways trading pattern ranging between $50.55 and $57.45 for the past 18 days. The crypto is likely consolidating the flash crash and the declining daily volume indicates Ethereum Classic is running out of both buyers and sellers.

Declining volume is often followed by a big uptick in volume, which could help the crypto choose a direction. Ethereum Classic is more likely to break bullishly from the sideways trading pattern due to a bullish pattern on the 24-hour chart.

The Ethereum Classic Chart: On Oct. 4 and Oct. 17, Ethereum Classic created a bullish double bottom pattern near the $50 level, but has yet to react to the pattern. The crypto may need to back-test the lower support level again, which would create a bullish triple bottom pattern.

Until the crypto is able to break bullishly or bearishly from the sideways trading pattern, Ethereum Classic may…

Read more at www.benzinga.com

Johann Polecsak: The Blockchain Will Be Unhackable Until Quantum Computers Arrive

Blockchain’s inherent safety is commonly seen as one of its major benefits. However, it was seen most recently in the hack of $600 million worth of digital assets stolen from the Poly Network, that the platforms that sit on the blockchain –or indeed bridge different blockchains as well as the chains themselves– are not impervious to threat.

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Value Partners Asia Bets On India In Hopes Of “Demographic Dividend”

Value Partners Asia ex-Japan Equity Fund has delivered a 60.7% return since its inception three years ago. In comparison, the MSCI All Counties Asia (ex-Japan) index has returned just 34% over the same period. The fund, which targets what it calls the best-in-class companies in “growth-like” areas of the market, such as information technology and Read More

Another attack recently saw a cybercriminal exploiting a vulnerability in Ethereum Classic’s network in order to rewrite the data in its transaction history, leading to the hacker…

Read more at www.valuewalk.com

Ethereum developers plan to switch off proof-of-work forever by February 2022

  • Ethereum is the top choice for the next crypto ETF. 
  • Applications submitted by Kryptoin and Gemini are pending with the SEC.
  • Dominance of the altcoin remain close to 18% with a rise in on-chain activity on DeFi and NFT platforms. 
  • The Ethereum development team is making strides toward “The Merge,” plans to transition by 2022. 

SEC’s approval of the Bitcoin futures-backed ETF has paved the way for further crypto ETFs. Ethereum’s transition to proof-of-stake inches closer, analysts expect ETH to break out. 

Ethereum to migrate to proof-of-stake in February 2022 

Ethereum’s “Triple Halving” narrative relies on the transition to proof-of-merge. In their latest development update on October 16th, the team revealed that the transition will be complete by February 2022. The update reads:

Aim for code to switch off PoW forever to be ready by Feb 2022.

Proponents are debating the role of miners once the altcoin shifts to proof-of-stake. Miners are expected to go obsolete post-merge and shift their resources to Ethereum Classic or Ravencoin mining, since both can be mined using rigs that use Graphics Processing Units…

Read more at www.fxstreet.com

Cryptocurrency Ethereum Classic Rises More Than 3% In 24 hours

Over the past 24 hours, Ethereum Classic’s (CRYPTO: ETC) price has risen 3.67% to $54.54. This is contrary to its negative trend over the past week where it has experienced a 0.0% loss, moving from $54.31 to its current price. As it stands right now, the coin’s all-time high is $167.09.

The chart below compares the price movement and volatility for Ethereum Classic over the past 24 hours (left) to its price movement over the past week (right). The gray bands are bollinger bands, measuring the volatility for both the daily and weekly price movements. The wider the bands are, or the larger the gray area is at any given moment, the larger the volatility.

The trading volume for the coin has fallen 31.0% over the past week which is opposite, directionally, with the overall circulating supply of the coin, which has increased 0.1%. This brings the circulating supply to 130.21 million, which makes up an estimated 61.8% of its max supply of 210.70 million. According to our data, the current market cap ranking for ETC is #28 at 7.11 billion.

supply_and_vol

Where Can You Buy Ethereum Classic?

If you are interested in purchasing Ethereum Classic and want to know the best…

Read more at www.benzinga.com

Why Is Polkadot Exploding While Bitcoin And Others Are Trading Flat Today? – Polkadot – United States Dollar ($DOT)

Polkadot (CRYPTO: DOT) is rallying higher Wednesday, amid a cryptocurrency market that is trading pretty flat. Polkadot posted an announcement on its website stating it’s was ready to launch parachains on its app.

The crypto is blowing past other popular cryptocurrencies in terms of percentage including Dogecoin (CRYPTO: DOGE), Ethereum Classic (CRYPTO: ETC), Ethereum (CRYPTO: ETH) and Bitcoin (CRYPTO: BTC).

Polkadot was up 18.49% at $41.59 at last check.

Polkadot Daily Chart Analysis

  • Polkadot is nearing resistance after having a very green day today, and trading in what technical traders would call an ascending triangle pattern.
  • The $45 level is an area of resistance from previous highs. The crypto has been able to find support near the higher low trendline in the past. These levels may hold in the future until one is broken.
  • The crypto trades above both the 50-day moving average (green) and the 200-day moving average (blue), indicating the crypto looks to have had recent bullish sentiment.
  • Each of these moving averages may hold as a possible area of support in the future.
  • The Relative Strength Index (RSI) has been pushing higher since the announcement and…

Read more at www.benzinga.com

Ethereum Classic Price Prediction: ETC is Not Looking Good – InvestingCube

Ethereum Classic Price Prediction: ETC is Not Looking Good  InvestingCube
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VeChain Price Prediction After Bouncing Off a Crucial Support Zone

VeChain price remains on a decline while holding steadily above the crucial support level of $0.1000. According to CoinMarketCap, its market cap is down by 7.03%. At the same time, its trading volume is up by 17.41% over the past 24 hours.

In comparison, the global crypto market cap has dropped by 1.67% from the previous session. Bitcoin, the leading crypto has pulled back from the resistance zone of $57,500 while trading steadily above the support level of $55,000. Notably, various altcoins including Ethereum and Ethereum Classic have bounced off Tuesday’s low while holding steady above their crucial support levels.

VeChain price forecast

VET has bounced off Tuesday’s low of 0.1006. Since surging above the psychological level of 0.1000 at the beginning of October, it has been trading steadily above that crucial support level. However, since hitting the month’s high of 0.1233 on Saturday, VeChain price has dropped by about 14.42%.

At the time of writing, the altcoin was down by 3.29% at 0.1057. On a two-hour chart, it is trading below the 25 and 50-day exponential moving averages. In the near term, it will likely record curbed…

Read more at www.investingcube.com

JP Morgan CEO dubs bitcoin ‘worthless’

According to a report from Reuters, Dimon, who has been chair and CEO of JP Morgan since 2005, told a conference on Monday (11 October) at the Institute of International Finance that “no matter what anyone thinks about it, government is going to regulate it”.

“They are going to regulate it for (anti-money laundering) purposes, for (Bank Secrecy Act) purposes, for tax,” he said.

“I personally think that bitcoin is worthless. I don’t think you should smoke cigarettes either.”

Ruffer Investment Company takes profits on ‘defensive’ Bitcoin bet

The comments made are in spite of the fact that JP Morgan gave its wealth management clients access to six crypto funds throughout the summer, including Grayscale Bitcoin Trust, Grayscale Bitcoin Cash Trust, Grayscale Ethereum Trust, Grayscale Ethereum Classic Trust and Osprey Bitcoin Trust.

Dimon also told the conference: “Our clients are adults. They disagree. If they want to have access to buy or sell bitcoin – we can’t custody it – but we can give them legitimate, as clean as possible access.”

This is not the first time the CEO has publically criticised bitcoin. In 2017, Dimon called bitcoin “a fraud” and warned “it will blow…

Read more at www.investmentweek.co.uk

Ethereum – What I Hate, Love, and Fear About the Cryptocurrency

Ethereum is NOT a blockchain. It’s NOT a cryptocurrency either! It’s actually a protocol (a set of rules or procedures). When you browse the Internet, you may have noticed that website URLs begin with an HTTP or HTTPS. That’s hypertext transfer protocol. Emails use simple mail transfer protocol, post office protocol. All the coolest tech stuff runs on protocols.

Ethereum is a protocol. And multiple independent blockchains run on it – most popular being Mainnet, Görli, Kovan, Rinkeby, and Ropsten. These blockchains do NOT talk to each other.

When most people talk about Ethereum, they are talking about Mainnet – the primary public Ethereum production blockchain. This is where actual-value transactions occur on the blockchain. The native crypto of this Ethereum is Ether (ETH). At the time of writing, the price of 1ETH is $3,577 or approximately Rs. 2,77,750. Let’s stick to this definition for this post.

And then there’s Ethereum Classic, the original version, with its native crypto ETC. The moral of the story so far is – There’s more to Ethereum than meets the eye. Let’s dive in.

1. What I hate about Ethereum

I hate that Ethereum is neither “immutable” nor…

Read more at gadgets.ndtv.com

Ethereum Classic Price Analysis: ETC Coin Expecting a Major Pullback Upto $125

  • The ETC coin price is favorable, around 2.3% during intraday.
  • The 24-hour trading volume is at $5.924 billion.
  • ETC/BTC pair is trading positive by 1.3% at 0.00100033 BTC.

The daily technical chart and price trend of ETC coin show a bullish trend. Based on the pivot point, the first support zone is 35.0 USD. Another way to watch it is that if it rushes, the resistance level to look at is 70 USD. Therefore, the chart created a dragonfly Doji candlestick pattern during the day, and the cost is confident that it will reverse towards the downside with unwavering low strength.

The Exponential Moving Average (EMA) band, consisting of various EMA’s, strongly supports currency price fluctuations. Investors may find that cost breaks above the red ribbon. This guarantees a rise in ETC until it is above the ribbon.

Trading volume (569.288 K) is below the 20-day moving average (1.638 M). The volume is moderate and increasing, so the cost is struggling below the pivot point. Investors may also see the volume bar on the chart decreases. This indicates that anomalous instability is common on subsequent trading days.

The RSI indicator gave a…

Read more at themarketperiodical.com

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