Thomas Hughes

Ethereum Classic (ETC) Developers Abandon Ship

ETC/USD dropped to 4.40, but soon after it recovered and is now trading at 4.80
Ethereum Classic (ETC) Developers Abandon Ship

Due to lack of funding, the team of developers at Ethereum Classic are abandoning the (possibly sinking) ship. The announcement was made via the official ETCDEV Twitter account.

The recent crypto market slump is affecting coins negatively apparently in more than one way, and we will probably see more occurrences like this one in the future, with other small teams. The ETC developers mentioned they have tried to gather support from investors both inside and outside of the ETC community but were met with disappointing results.

Chart Analysis - ETC/USD

Chart Analysis - ETC/USD

Following the news, ETC/USD dropped to 4.40, but soon after it recovered and is now trading at 4.80, with an overall 6% drop for the last 24 hours and a surprising rise of more than 9% for the last 7 days.

Considering that Ethereum Classic’s future is in peril due to the developers leaving, we are likely to see a drop-in price but the single certainty in trading is that nothing is certain, so we cannot say with 100% accuracy that a drop is next.

Strictly from a technical point of view, the pair has printed a higher high and a higher low (albeit very timid), the two Exponential Moving Averages are flattening, and the Stochastic has already crossed upwards coming from oversold territory. All of these are signs that a move higher is in the works, but the main trend is down so, again, we are dealing with uncertainty and a very blurry picture. Caution is advised.

Support zone: 4.2 – 4.3

Resistance zone: 5.04

Most likely scenario: break of support and move lower (based on the fundamental reasons mentioned above)

Alternate scenario: move above the 2 Moving Averages and test of resistance (strictly technical)

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Alex Morris

Binance Exchange Review: Taking a Closer Look at the Crypto Behemoth

In this Binance review, we’ve analyzed all of Binance’s features to find out whether multibillion-dollar Binance Exchange is better than any alternative exchange
Binance Exchange Review: Taking a Closer Look at the Crypto Behemoth
Contents

Binance — From an ICO to the world’s biggest exchange

While the majority of Chinese exchanges have failed to reach a global audience, there is one very prominent exception: Binance, the largest exchange in the world by trading volume.  

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Changpeng Zhao (better known as CZ) is the mastermind behind this Chinese exchange. It is worth mentioning that he already had certain trading experience before founding Binance — he started his already impressive career by building trade engines at the Tokyo Stock Exchange. After CZ found out about the existence of Bitcoin in 2013, he started working for a slew of crypto-oriented projects, including Binance’s present-day rival OKCoin, but then he eventually decided to start his own crypto-only exchange.   

In order to raise funds for the new Binance exchange that was supposed to become a leader in the crypto-to-crypto niche, CZ conducted a fairly successful ICO, raking in $15 mln. Investors were rewarded with the Binance Coin (BNB), the native token of the Hong Kong-based exchange.     

Despite China’s crackdown on cryptocurrencies, Binance has managed to enjoy monstrous success against all odds. It literally had to temporarily suspend registrations because of incredibly high demand. As of now, CZ-led Binance records daily trading volumes that exceed $1 bln. Such a big volume is partially attributed to the huge speed of transactions on the exchange. Binance is able to process up to 1.4 mln orders in a single second. Still, CZ keeps it humble.    

“As for us, we try very hard to not be number one all the time, because being number one creates other problems sometimes, especially with regulators.’’ – CZ

Now, Binance exchange is expanding globally, landing partnership after partnership. It is worth mentioning that Binance exchange has already set operation in Malta, Singapore, and other countries. That being said, it is important to determine whether the exchange lives up to this immense hype.

Apart from English, Binance exchange — an East-oriented exchange — also supports Chinese, Korean, and Japanese. Given CZ’s ambitious plans to create a truly global digital asset trading platform, more languages are expected to be added in the future.

Setting up an account

Let’s jump right into the signup process on Binance!

The process of purchasing cryptocurrency is rather straightforward. In order to create your Binance account, click on the top right corner where it says “Register”. After that, you have to fill in all the necessary information. Complete the captcha by scrolling the puzzle to the missing position, and look for an email in your inbox.

Binance account

Then, simply log in to your account. You will see a pop-up window that asks you to enable 2FA on Binance (you have to download an application and scan a QR code).

a pop-up window

As you can see, the registration process for the exchange is very simple and straightforward. In fact, you are already able to withdraw up to 2 BTC from Binance even without confirming your identity.

Depositing Cryptocurrencies: What are the available payment methods?

Since this is a crypto-to-crypto exchange, cryptocurrencies remain the only available payment method on Binance. In order to buy altcoins, you have to buy Bitcoin or Ether on Coinbase (or any other fiat-to-crypto exchange first). Most of these assets are traded against these two currencies, so it makes sense to deposit them first on the Binance exchange.  

Once you see the list of coins, simply click the “Deposit” button.

 the list of coins

You have to know your Bitcoin address in order to be able to deposit money into Binance. Simply copy the Binance address and deposit funds from your ordinary wallet (the same modus operandi applies to Ethereum, Litecoin and plenty of other assets).

the Binance address

NB: The funds won’t be available in your account instantly! It may take up to a couple of hours until your money gets deposited to your Binance account from another exchange, but you will be getting your coins in a snap after five network confirmations.

Purchasing Cryptocurrency: Buy Bitcoin, Ethereum or any altcoin!  

In order to buy crypto on Binance, you have to go to the “Exchange” section and choose the “Basic” option in a drop-down window. Once you’ve done that, enter the ticker of any cryptocurrency of your choice in a search box to select a corresponding trading pair (most assets are traded against Bitcoin or Ethereum).

a drop-down window

Select this trading pair in order to see a candlestick chart that displays the most recent price fluctuations pertaining to a certain cryptocurrency that is listed on the Binance exchange.  

a candlestick chart

If you are willing to purchase crypto on Binance, there are two available options on the exchange: a market order and a limit order. Buying any cryptocurrency at a current market price on Binance presupposes the creation of the market order. Meanwhile, the limit order allows buying (or selling) coins at a specific price without the need to constantly monitor the Binance exchange.       

Binance

Trading Fees

There is a flat trading fee on Binance that is set at 0.1 percent. Back in July, Binance launched a new trading fee discount program that ranks users based on their trading volumes and the current BNB balance. As the table below shows, maker fees and taker fees can be reduced to 0.02 and 0.04 percent respectively. Obviously, even the minimum discount remains a pipe dream for run-off-the-mill Binance traders since your monthly trading volume has to exceed 100 BTC ($641,833 at the time of writing this article). Meanwhile, the highest VIP 8 level on Binance remains an exclusive Bitcoin billionaire club since 150,000 BTC is very close the $1 bln mark (it’s very questionable whether the biggest crypto whales can boast such enormous trading volumes on the exchange).   
Trading Fees

There is also a 25 percent discount on all trading fees paid in the BNB token (according to Binance’s white paper, this discount will dwindle each year until it completely disappears in 2021).

Deposits do not incur any additional payments, but there is a withdrawal fee that depends on the digital asset of your choice (some digital assets in the likes of NEO do not presuppose any withdrawal charges on the Binance exchange).

Transaction Limits

Given that Binance is a crypto-to-crypto exchange, you cannot deposit fiat currencies. However, when it comes to crypto, you can deposit an unlimited sum of digital assets. Still, there are withdrawal limits in place that directly correlate to your verification level on the Binance exchange.

If you want to break the chains of the 2 BTC per day limitation, you have to go through the Binance verification process. In order to reach Level 2, you have to enable 2FA (that is a mandatory requirement on every exchange that helps to enhance users’ protection). After that, you have to complete your KYC verification by submitting your personal information to the Binance exchange (name, address and a photo of your ID).

Once you’ve done that, you are free to send up to 100 BTC to your wallet on a daily basis. Notably, the verification process on the Binance exchange is significantly less invasive compared to other exchanges since only the photo of your ID is required to seal the deal.

High-dollar investors are able to withdraw even more than that, but they need to contact Binance’s customer support if there is such a necessity.

Security: Is there any reason to be worried about your coins?

It is absolutely clear that the ability to build an extensive user base in such a short span of time stems from establishing a high level of trust. Unlike an armada of other Chinese exchanges that are often associated with fake trading volumes and other shenanigans, Binance seems like a robust trading platform. Does Binance really offer top-notch security?

Unlike Coinbase, a leading fiat-to-crypto exchange, CZ-led Binance doesn’t provide enough information on how it is supposed to secure the funds of its clients, which might be concerning for some Binance investors. One would be naïve to assume that Binance, the biggest exchange on the market that is expected to rake in $1 bln even amidst the crypto rout, would not take its users’ safety seriously. On the flip side, the infamous Mt. Gox fiasco proves that no one is too big to fail in this fledgling industry, and Binance could see the same fate.

In fact, Binance almost suffered from a major phishing attack back in March. The hackers collected users’ logins for months with the help of scam websites in order to steal their funds. All altcoins from Binance users’ wallets were converted to BTC, but then they were stymied by the withdrawal process. Since these individuals started pumping Viacoin beforehand, they turned out to be the only ones who lose funds while the attack itself had been effectively prevented by Binance.      

NB: Always check the website address before entering any sensitive information that could compromise the safety of your Binance account!   

Furthermore, there are numerous security features that will help you to enhance the protection of your Binance account:

numerous security

Speaking of the regulatory side of this issue, one has to point out that Binance is not registered in the US, which essentially means that the exchange doesn’t have to comply with SEC’s policies.    

Back in September, U.Today reported about an explosive report of New York Attorney General Barbara Underwood who states that Binance, along with some other big-name exchanges, do not protect their users properly from manipulations. That doesn’t necessarily mean that Binance broke the law — the watchdog simply requires more clarity on investor protection.

Customer Support

The success of a certain exchange largely depends on how responsive its customer support is. HitBTC, for instance, provides its users with disastrous feedback despite also being one of the leading exchanges. Speaking of Binance, there is also room for improvement since the exchange doesn’t feature live chat support — a very convenient tool if there’s a need for a quick reply. Moreover, Binance users do not have the ability to contact the support team over the phone.

Customer Support

One can leave a request on their website and wait for a reply that is sent to his/her email address. Since Binance is positioned to become a global exchange, there is a multilingual customer support. However, Binance is usually criticized for a long response time (it usually takes three days for Binance’s staff to answer the request). Still, Binance has a good social media presence: it has more than 880,000 followers on Twitter alone, and CZ himself often tweets too, keeping Binance’s user base constantly engaged.

Pros and Cons

Binance advantages:  

  1. Big and solid user base. The fact that Binance is globally trusted by so many traders is a clear indicator that it is a force to be reckoned with. Moreover, as mentioned above, Binance is perfectly suitable both for seasoned traders and beginner-level users who are making their first foray into the world of crypto.    

  2. A gargantuan amount of coins. Binance has become the mainstay for those who want to diversify their investment portfolio with altcoins.

  3. The high speed (Binance is able to process up to 1.4 mln TPS).

  4. A competitive fee structure with a transparent system of discounts offered by the Binance team.  

Binance disadvantages:

  1. Customer support that is less responsive to Binance compared to other rival exchanges.   

  2. There have been numerous complaints about withdrawal support directed at Binance.

  3. China. Binance is based in Hong Kong, but it still remains in China’s crosshairs (which retains its hawkish stance on crypto).

  4. Privacy concerns. Binance is storing users’ data, which might be alarming for those who value their privacy.

  5. The absence of fiat deposits and withdrawals on Binance (in order to buy Bitcoin, you have to deposit Bitcoin from Coinbase).     

Decentralized Exchange in the offing?

While already trumping all other exchanges in the crypto-to-crypto department, Binance is also inching closer toward launching its own decentralized exchange (DEX) that is expected to go live in Q1 2019. BNB will reportedly be a native currency on the exchange that is supposed to grant users the freedom of being in full control of their funds.   

The topic of decentralized exchanges has always been a rather debatable issue in the crypto space. While pundits in the likes of Ran Neuner call them the future of the crypto industry, the existing examples of such exchanges don’t have even an ounce of the popularity of their centralized competitors (that actually applies to all dApps).

The aforementioned fees remain the bread and butter of Binance, but Ethereum’s cofounder Vitalik Buterin already came up with a solution to reward the developers of decentralized exchanges by embedding native fees into the smart contracts (case in point: EtherDelta).

CZ believes that Binance is the best alternative of a decentralized exchange since it has a robust infrastructure. The CEO claims that the most pivotal advantage of decentralized trading platforms over centralized ones consists in the ability of users to fully control their funds. There are no user accounts — all transactions are conducted on a blockchain. In this case, a centralized exchange in the likes of Binance doesn’t serve as a custodian of wallets.

Conclusion

The fact that Binance rose to prominence in practically no time doesn’t come as a surprise: the exchange stands out among its competitors because of its low fees, a bevy of available coins, and a perfect reputation (Binance still hasn’t suffered a single hack since its very inception). On the flip side, everything is changing at a breakneck speed in the world of crypto — one day you're the cock of the walk, the next you're the feather duster.

Binance continues to assert its dominance by opening offices around the globe, but the exchange still hasn’t managed to stand the test of time to appear in the “old-timer” crowd. Anyway, the future looks bright for CZ-led Binance, and there is no reason why it shouldn’t be your first choice when it comes to C2C exchanges.

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🤷 Opinions Alexander Goborov

From Russia with Love: Moscow's Affair with the Blockchain

Opinions
While many think of Russia as conservative and backward, the country is seemingly finding its progressive side in the fintech sector
From Russia with Love: Moscow's Affair with the Blockchain
Contents

Most people know that Russia is the biggest country in the world by size, a major political player on the world stage, and a country with huge reserves of timber, oil, and natural gas.

Fewer know that Russia is now also becoming ever more involved in the world of Blockchain and cryptocurrencies; in fact, it is believed that most programmers who work on the Blockchain today speak Russian in addition to English and Chinese.

To top it off, Russia has now also become home to many international crypto events, such as the Blockchain Life forum held in St Petersburg.

Mining

Statistics from this year, corroborated by the Russian Association of Crypto Industry and Blockchain (RACIB), show that more and more companies in Russia are doing mining: the numbers have grown by around 17% this year taking the total number of mining companies in Russia ― the ones that have been accounted for ― to around 80 000.

According to many fintech specialists, Russia, particularly the Eastern region of the country known as Siberia, is an ideal place for mining because of its abundance of mining resources, namely inexpensive electricity.

This must have something to do with the fact that today, as some sources claim, around 3 million individuals own cryptocurrencies in Russia against 2.5 million individuals from last year. The crypto figures are said to be growing.

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Huobi

One of the top crypto exchanges in the world, Singapore-based Huobi has recently moved in to conquer the Russian market. Although those who trade cryptocurrencies in Russia are no strangers to exchange platforms, Huobi is the first platform to have an actual office in Russia with a Russian-speaking call centre. According to those much satisfied, this is one of the key features Huobi has to offer that no other platform currently has, i.e. ease of real-time client to representative communication in Russian, which has long been overdue.

Huobi
Huobi’s phone app

The new office opened in Moscow at the start of last week. While at present deposits in Russian roubles are not permitted due to regulatory reasons, those who wish to trade will be able to buy cryptocurrencies using roubles and have them put in trading accounts via Huobi’s OTC service. Moreover, Huobi will also offer loans to potential  miners to purchase mining equipment, an important additional service which is to be made available in early 2019.

To make their intentions even more recognizable, Huobi will also be training its future specialists at the Department of Entrepreneurship and Logistics in Moscow’s Plekhanov University of Economics.

LocalBitcoins and Other Players

Helsinki-based LocalBitcoins is one of the most popular Bitcoin to local fiat currency exchange platforms. What is fascinating to learn is that the Bitcoin to Russian Rouble exchange pair is actually the most popular one of all, trading at close to 2 million USD every day: all that despite the Russian government’s ongoing ban of access to the LocalBitcoins domain since 2016.

LocalBitcoins
A LocalBitcoins ATM

Not only does it show that the BTC-RUB trade is strong and plentiful, but also that the crypto traders and owners in Russia have moved way past any government-imposed web regulations in technological terms.

But this is not all. According to independent sources, some places in Moscow exchange cryptocurrencies for roubles in numbers totalling close to 9 billion USD, which is five times LocalBitcoins’ turnover. Among such places are believed to be the large shopping centres “Moskva”, “Sadovod”, and “Food City”.

Sadovod
One of the entrances to the “Sadovod” shopping centre in Moscow

 

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Wikicoin George Shnurenko

Binance Coin Price Prediction- How Far Can BNB Grow?

📚 Wikicoin
Binance is a Blockchain ecosystem comprised of Exchange, Labs, Launchpad and Info. We expect further growth of the BNB cryptocurrency
Binance Coin Price Prediction- How Far Can BNB Grow?
Contents

Binance has found its way onto the headlines over and over again. At first, they launched a $1 bln investment fund and then, they celebrated over eight mln users. These new achievements water down the previous $15 mln raised in July 2017 and astounding growth in membership. The soaring success has also brought about several rumors concerning BNB price prediction.

In spite of the stellar performance of the company, Binance Labs never relented, rather, they kept pushing boundaries. The LaunchPad product which was tested in December 2017 with the Gifto Official’s ICO saw the corporation amass millions of dollars in seconds. They still didn’t rest their oars, as they’ve announced that they have more projects in the pipeline.

Their impressive track record is what underpins the myriad of BNB price prediction floating around, asserting that the coin will peak in a very short while.

But we cannot depend on hearsay alone, let’s find out if BNB will really do well in the market. If they will, what’s the underlying reason? If not, we need to find out why.

Binance offers a trading fee discount

Revenue is an important source of growth, no doubt. However, an equally important metric is the volume of trade being handled. BNB dealt with this wisely and offered traders a 50 percent discount when they make use of Binance exchange for the payment of fees. This seemingly little introduction goes a long way in encouraging customer adoption and BNB price prediction for 2018 is gaining traction because of this.

Binance affiliate bonus

Yes, there’s such a thing as the affiliate bonus with Binance. In fact, the earnings recently increased for those who hold a minimum of 500 BNB. The affiliate program rewards traders with 50 percent of the trading fees of those referred. This means that if you refer a trader who goes on to incur a trading fee of about $50, you will get paid $25.

For those who do not meet the minimum, the bonus was cut to 20 percent and the strategic advantage this offers can be seen below:

  1. It increases earnings in the short term

  2. Improves overall profit in the long-term

  3. Provide a perfect setup to create a new demand feature.

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Token sale participation for LaunchPad

LaunchPad is a Binance product which was established to help startups raise capital as at when due. They have tested this product and it has proved its reliability. This strategy then, that startups are required to purchase BNB tokens before they can participate in the fundraising exercise is an equally viable one and it will cause the value to increase.

BNB trading pairs

There are over 70 trading pairs of BNB. This means that BNB is available to be traded with 70 other cryptocurrencies on several digital exchanges. This goes to show how valuable it is and it also demonstrates that the demand for this coin is on the increase.

One more thing on trading pairs, the trading pair utility opens traders up to more arbitrage opportunities. What does this mean? Simply means that if there’s an NEO/BTC pair and a BNB/NEO pair, one can leverage the BNB/NEO pair rather than trading BTC because of the significant difference in price.

BNB price prediction

Now, to the real deal. Based on the evidence provided above, what is the verdict? Let’s consider a few other things:

  1. The initial total supply was 200 mln tokens but they have a buy-back clause which aims to reduce the total supply to 100 mln.

  2. It is an ERC 20 token.

  3. It has a market cap of $1.259 bln, the 18th largest.

  4. It is currently selling at $13.19

For the analysis, we shall draw on the data and equations provided here.

At the moment, the volume of BNB available is 4.3222 percent of the total physical currency A (including that in the central bank). The BNB available is also 0.3041 percent of the total currency B(including the amount in demand accounts, checking accounts, savings accounts, money market accounts, and certificate of deposit of accounts less than $100,000).

If one percent of the total physical currency A is infused into the crypto market and Binance coin maintains the current share, the price of BNB would be $2.98. If 16 percent of the said amount is pumped in, BNB would increase to $47.66 and if the percentage rises to 32 percent, it becomes $95.31.

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However, BNB price prediction takes a drastic turn in the case of currency B. if one percent is invested, it becomes $42.33, if 16 percent is invested, it becomes $677.33, if 32 percent is invested, it rises to $1,354.66.

Conclusion

Like we always warn, the crypto market is volatile and risky. This shouldn’t be taken as financial advice and we’re not liable for any loss incurred. Only invest after you’ve assiduously researched the market. One more thing, have fun while you do so!

Wikicoin
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Wikicoin Vera Thornpike

Verge Price Prediction 2018/19/20: Will XVG Surprise Us?

📚 Wikicoin
Will Verge cryptocurrency reach $0.1 this year?
Verge Price Prediction 2018/19/20: Will XVG Surprise Us?
Contents

After being in the shadow of Bitcoin and other coins alike, Verge finally started making waves and attracted the attention of crypto traders from all over the world. Wonder whether it is a good option for investment? Let’s find out the Verge price prediction for the nearest future and decide whether the game is worth the candles.

What is Verge?

Verge cryptocurrency was initially invented in 2014 and initially called “Dogecoin Dark.” However, the name was changed to avoid association with crimes. Its creator, “Sunerok,” decided that Bitcoin doesn’t sustain proper anonymity, so he developed a Blockchain that would guarantee private fund transfer.  Verge hides everything: the owner of currency, historical transactions and account balances. Therefore, it’s best suited to tackle anonymous transactions.

Verge vs. altcoins
Comparison of Verge with other cryptocurrencies

 

Were the previous XVG predictions justified?

To get better insight, let’s learn about the history of the coin right from the start. The peculiar fact that Verge was launched without an Initial Coin Offering and even without pre-mining contributed to zero popularity of this project. Until 2016, the rebranding year, no one knew about Dogecoin Dark.

Some two years ago, XVG was worth $0.000005 per coin. After rebranding, the price raised to $0.00001, which is a 100 percent rise. The highest value of Verge in 2016 was $0.000227 per coin. In 2017, the price started growing slowly, and at the end of the year, it soared together with the other cryptocurrencies. It reached the height that hasn’t been repeated since then.

In November 2017, Verge coin prediction was as follows:

XVG Price prediction December 2017
Verge price prediction for the end of 2017

In three weeks of December, the cost of Verge sprang from $0.005 up to $0.14, which was an increase of 2,700 percent! However, in a week, it dropped down to $0.09. Apparently, Verge coin price predictions were too optimistic back then, but what happened truly amazed the investors.

Verge prediction 2018

Although Verge experienced a severe drop since January 2018, some investors are sure that it may rise by 100 percent and higher by the end of this year. So, what’s Verge price prediction 2018? According to market analysts, XVG is in the ‘bullish’ zone, which means investors believe in its potential, and their contribution makes the coin grow in price.

A good example is a tweet posted in March 2018. Verge claimed they would establish a “Mystery Partnership,” which actually was postponed, but made Verge rise quickly and even reach $0.11.

Here are some other versions of Verge coin price prediction 2018:

  • According to Coin Switch, XVG may rise to $0.0736 by the end of 2018, and in five years, it may even hit the benchmark of $0.2069.

  • Walletinvestor Verge coin 2018 forecast is around $0.0442 (within a year). The five-year prediction is $0.165.

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The last three months of 2018 promise to become interesting: Verge price can still grow considerably. First, Verge will establish a partnership with TokenPay (they will even release a debit to be funded with Verge). Secondly, Verge can become one of the first privacy coins to promote the smart contract technology. The team is tight-lipped about the creation of the proprietary Rootstock protocol, and if released successfully, it can trigger the XVG price considerably.

XVG price prediction 2019

According to megacryptoprice.com, Verge will rise to $0.169428 in a year, which will add 1,100 percent to the current value. Verge coin price prediction on WalletInvestor is less optimistic: while users expect it to rise to $0.02, Facebook is more optimistic with its forecast $0.07. The website claims XVG will grow to $0.039 in a year. Coinfan website shows that the price can grow from $0.029 to $0.12.

Verge coin future price in 2020

In 2020, we can witness a significant growth of Verge price: according to Coinfan, it can grow from $0.1 to $0.45. WalletInvestor shows that Verge price will be around $0.06 in 2020. TradingBeasts has the same numbers.

Check out a video report about Verge forecast:

https://www.youtube.com/watch?v=22Z2-GEkndE

How much is Verge now?

With the market cap of $212 mln and a huge circulating supply of 15,172,086,051 coins, Verge sells for $0.01402. XVG is on the 41st place in the rating of world cryptocurrencies. It is present on different exchange platforms, so you can easily purchase some coins.

What may influence Verge cost?

Verge XVG price prediction will be defined by a whole range of factors. Let’s check how its cost can be impacted:

Factors that may drive its growth

Factors that may slow down its growth

Overall demand for private cryptocurrencies and XVG.

Competition. Verge is not the only private cryptocurrency. PIVX, Monero, Zcash, and other coins are its direct rivals.

Availability. Since Verge is present in many different exchange platforms, users have more chances to buy and sell it, which adds up to its value.

The potential for criminal activities. Since it’s a private coin, it can be used in the criminal sphere, which can potentially damage its reputation and slow down adoption rate.

Regulation opportunity. Optimal regulation will help Verge to overcome legal and tax barriers.

Too large supply. Overall XVG supply is 16,555,000,000 XVG, which is too much.

Future implementations and developments. Users bet that the Rootstock project can significantly promote Verge. The team is also working on the Wrath Protocol which will hide all details from the transaction.

It’s not fully developed. The technology at the foundation of Verge is still being developed, so it’s not clear what the future of Verge will be.

Adoption and acceptance. Verge is on its way to implementation in real life, which only increases demand for it. For example, recent news about Verge adopted by PornHub has exploded the crypto community.

 

Taking all these factors into consideration, it’s hard to give some precise forecasts: you never know which factors will play the key role.

 PornHub started accepting Verge!
PornHub started accepting Verge payments, which contributed to significant coin growth

 

Bottom line

So, is Verge a worthy investment? Although it’s hard to give any certain forecasts, this crypto coin promises to grow. Slowly but steadily. Therefore, if you’re ready to wait two to three years to get revenue, invest right now. Verge is one of the crypto pioneers in the niche of private transactions, so should definitely retain its position.

Wikicoin
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Thomas Hughes

Blood in the Streets of Crypto City

Bitcoin is down more than 12% for the last 24 hours, reaching as low as $5,500 (and even lower on a few exchanges) at the time of writing
Blood in the Streets of Crypto City

The whole crypto market is sinking in value and dropping in volume and is being led by Bitcoin, which is down more than 12% for the last 24 hours, reaching as low as $5,500 (and even lower on a few exchanges) at the time of writing. The reasons for the drop can only be speculated, with some voices shouting “manipulation” as loud as they can.

It is unclear whether we are talking about manipulation or not, but 40% of the entire Bitcoin volume (short positions mainly) belongs to BitMex. This is huge, considering that the second exchange by volume — Bitfinex — is currently trading 3% of the entire Bitcoin volume. Weird? I would say so.

Charts at a Glance

image

BTC/USD has broken the long-term low at $5,777 and reached lows last seen in late 2017. The move was not spurred by technical reasons and at this time it is not clear what exactly triggered it or when it will end. This could be the beginning of an extended drop towards $5,000 or a good opportunity to buy now. Either way, it is clear that Bitcoin and cryptos in general are riskier than usual under these circumstances.

Strictly from a technical point of view, the Relative Strength Index is deep in oversold territory and according to price action 101, a very strong move is followed by a period of stagnation or even a bounce higher once a bottom is established. However, we don’t know if the current price is a temporary bottom or if the drop will extend further.

Support zone: 5000 as a psychological level

Resistance zone: 5777 - 5800

Most likely scenario: bounce higher after a temporary bottom is formed, followed by another drop

Alternate scenario: extended move into 5000

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