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EOS Leads The Way

After a slow start to the week, Wednesday was a sea of green and a distinct air of positivity hanging over the market. It’s the start of spring in the U.S. with the first signs of new life beginning to show.  In crypto, for now at least, the signs are positive. All of the top 10…

EOS Leads The Way

Crypto took flight

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After a slow start to the week, Wednesday was a sea of green and a distinct air of positivity hanging over the market. It’s the start of spring in the U.S. with the first signs of new life beginning to show.  In crypto, for now at least, the signs are positive. All of the top 10 coins were up over 3% with EOS and Cardano up over 10% to start the day.

Bitcoin (BTC) has managed to claw its way back over $4,000 and Ethereum (ETH) has hit the heady heights of $138. Even XRP has managed to regain a foothold, heading back over the psychologically important $0.3000 level. So with moves like this, there seemed to be no obvious catalyst. Crypto sentiment can change like the weather and other than EOS being named as one of the top 3 current cryptocurrency projects by Weiss Ratings (XRP and BTC being the other 2), and some tease of future “big” news, there is little else to pinpoint as an obvious instigator.

As Wednesday progressed there were some minor pullbacks with BTC back to $4,000 and ETH to $137.40, but much of the broad market gains remain intact. 

Technical Analysis

As EOS is having its day in the sun it seems appropriate to take a look at what is now the 4th ranked coin by market capitalization, knocking LTC down to 5th.

As you can see from the 2H chart below, EOS has been in a broad rising channel since December of last year. The next immediate hurdle to clear is $4.4157, which was the high in late February. To the downside, the $3.8700 area should be supportive as that was the break-up level for yesterday’s move.

28th March 2019, David Hannigan. trade.io

28th March 2019, David Hannigan. trade.io

Wednesday’s biggest winner and loser

Wednesday’s biggest winner and loser

With additional commentary & technical analysis by David Hannigan, Chief Dealer, trade.io.

Disclaimer: All opinions expressed by Jim Preissler are solely his opinions and do not reflect the opinions of Forbes, Forbes CryptoMarkets, their parent company or affiliates.

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After a slow start to the week, Wednesday was a sea of green and a distinct air of positivity hanging over the market. It’s the start of spring in the U.S. with the first signs of new life beginning to show.  In crypto, for now at least, the signs are positive. All of the top 10 coins were up over 3% with EOS and Cardano up over 10% to start the day.

Bitcoin (BTC) has managed to claw its way back over $4,000 and Ethereum (ETH) has hit the heady heights of $138. Even XRP has managed to regain a foothold, heading back over the psychologically important $0.3000 level. So with moves like this, there seemed to be no obvious catalyst. Crypto sentiment can change like the weather and other than EOS being named as one of the top 3 current cryptocurrency projects by Weiss Ratings (XRP and BTC being the other 2), and some tease of future “big” news, there is little else to pinpoint as an obvious instigator.

As Wednesday progressed there were some minor pullbacks with BTC back to $4,000 and ETH to $137.40, but much of the broad market gains remain intact. 

Technical Analysis

As EOS is having its day in the sun it seems appropriate to take a look at what is now the 4th ranked coin by market capitalization, knocking LTC down to 5th.

As you can see from the 2H chart below, EOS has been in a broad rising channel since December of last year. The next immediate hurdle to clear is $4.4157, which was the high in late February. To the downside, the $3.8700 area should be supportive as that was the break-up level for yesterday’s move.

28th March 2019, David Hannigan. trade.io

28th March 2019, David Hannigan. trade.io

Wednesday’s biggest winner and loser

Wednesday’s biggest winner and loser

With additional commentary & technical analysis by David Hannigan, Chief Dealer, trade.io.

Disclaimer: All opinions expressed by Jim Preissler are solely his opinions and do not reflect the opinions of Forbes, Forbes CryptoMarkets, their parent company or affiliates.

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Cryptocurrency

Hackers made $32K in 7 weeks by fixing bugs in cryptocurrency projects

Hackers made $32K in 7 weeks by fixing bugs in cryptocurrency projects

In the past seven weeks, white hat hackers earned at least $32,150 by fixing security flaws in popular cryptocurrency and blockchain platforms like TRON, Brave, EOS and Coinbase.
According to data reviewed by Hard Fork, 15 blockchain-related firms have paid rewards to security researchers between March 28 and May 16, split across 30 publicly-released bug reports.

Omise, the software firm behind cryptocurrency OmiseGo, fielded the most fixes (six). Blockchain-powered prediction market Augur disclosed three reports, as did Brave Software, makers of the Brave browser, which features its own native token.

Projects adjust their HackerOne rewards to the severity the discovered security flaws. Whilst the majority of Omise’s reports were only worth around $100 each, other payments in the past seven weeks were much higher.
Block.one, the firm behind the EOS “blockchain,” rewarded one hacker with $10,000 for a single fix, as did budding network Aeternity.
TRON also paid $3,100 to the researcher who realized the network was susceptible to being flooded with malicious smart contracts, which would have brought its blockchain to a screeching halt.
The amount of hackers who prefer to fix security issues seems to be remaining steady — but sometimes they can make off with much bigger amounts exploiting vulnerabilities themselves.
Indeed, cryptocurrency exchange Binance revealed attackers had successfully stolen 7,000 BTC (then $40 million, now $55 million) from its own wallets last week.
Coincidentally, Binance runs its own bug bounty program with a maximum reward of $100,000 for the most critical of vulnerabilities. The Binance hacker remains at large.

Published May 20, 2019 — 15:21 UTC

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Cryptocurrency

ABN AMRO signs on Accenture and ING Bank for its blockchain inventory platform

ABN AMRO signs on Accenture and ING Bank for its blockchain inventory platform

Despite abandoning plans to build its own Bitcoin wallet, ABN AMRO is not quite done with blockchain tech.
The Dutch banking giant has announced plans to launch a decentralized trade inventory platform in collaboration with Accenture and ING Bank, according to a press release (spotted by CoinDesk).

Codenamed Forcefield, the project will employ Internet-of-Things (IoT) devices to provide “real-time insight into trade inventories.” ABN AMRO claims the platform’s monitoring features “will lead to more secure physical handling processes and a reduction of costs.”
Upon launch, the project will focus on “refined metals,” but “functionality will be expanded across other dry bulk commodities” in the future.
In addition to ING and Accenture, a number of other companies – including Anglo American, CMST International, Hartree Partners, Macquarie, Mercuria, and OCBC Bank – have also signed a memorandum of understanding to join Forcefield.
Back in January, ABN AMRO teased plans to develop its own cryptocurrency wallet, called Wallie. But as Hard Fork reported, the bank has now ditched Wallie as cryptocurrencies are still “too risky.”
“We have approached all the people who have shown interest,” ABN AMRO press officer Jarco de Swart told Hard Fork. “We have concluded that cryptocurrencies because of their unregulated nature are at the moment too risky assets [sic] for our clients to invest in.”
ABN AMRO and ING are hardly the only banks looking to get in on the blockchain hype. Indeed, leading banks – including Barclays and HSBC – reportedly poured $50 million into a blockchain-based digital cash system, expected to launch in 2020.

Published May 20, 2019 — 15:00 UTC

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