🕵️‍ ICO Watch Eric Eissler

Past-ICO Review: Iungo

👁 ICO Watch
While free Internet and millions of hotspots around the world would be anamazing feat, it appears that the world might be ready for something so nice
Past-ICO Review: Iungo

 

Iungo is a part of the movement to provide free decentralized access to the Internet via a swarm of hotspots throughout the world. The vision is to have shops and offices, as well as individuals,  act as hotspots for Iungo and provide Internet access for all, without passwords or lengthy registrations. While this sounds like a fantastic idea, the company would upset the current business model and ISPs would be run out of business. ISPs are not going to let this happen and will in many countries where money buys influence with the government, will work to put up roadblocks to prevent Iungo from flourishing. In other, more open societies and countries, the government may want Iungo to assist them on their mission.

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Financials

Iungo had an ICO that ran from Dec. 7, 2017 to Feb. 1, 2018 and raised $46 mln in proceeds to fund their lofty business goals. The token entered the market at $0.47 on Feb. 4, 2018 and immediately started on a downward trend. The token currently trades at $0.019. The market cap has shrunk down to $780,000 with daily trade volumes hovering around $1,000. This indicates that there is not much interest in this company, nor is there much potential nor cash left in the coffers to keep the company going.

The Team

RIČARDAS BERNOTAVIČIUS- Co-Founder / CEO

Founder of multiple MedTech and IoT companies. Successful entrepreneur with a clear focus on business, media and cryptocurrency.

PAULIUS SIREVIČIUS- Co-Founder / COO

Successful entrepreneur, ICO and Blockchain enthusiast. CEO and Partner of multiple online companies.

ANDRIUS MAČYS- Co-Founder / CTO

More than 14 years of experience in IT, managing director and Blockchain enthusiast.

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Ambitious project but not much information

While Iungo is very ambitious and surely garnered much attention, we were unable to get any comment from the company directly. There is no roadmap on the site, and the news and company blog is filled more with marketing stories rather than any pertinent information about how the company is doing or what they are doing to achieve their goals. Based on the public financial information, it is safe to say that progress is rather stalled and the fact that the company does not directly address this issue is another sign that there is a problem. The only note of progress on the website was that back in mid-July Iungo launched an alpha version of the product but there was no follow up on how it has performed almost two months after the launch.

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📈 Pricewise Daniel Osten

Bitcoin Price is Reaching Critical Support Level As Wall Street Dives

Pricewise
An investor’s worst nightmare or an opportunity to take a fresh look at old assets?
Bitcoin Price is Reaching Critical Support Level As Wall Street Dives

During the previous trading session, Dow Jones fell a record (since its foundation!) 4.6 percent, which could not leave the price of alternative investment assets unaffected. The official reason for the aggravation of the cryptocurrency market situation was the news of China’s blocking its citizens from accessing foreign exchanges and ICO websites. It seems that Chinese regulations have become a bottomless source of possibilities for speculation and price manipulation, although this approach is deplorably uninventive.

Nevertheless, as a result of Monday's events and news, on Feb. 6, the total market capitalization fell to $300 bln- the lowest value since the beginning of December 2017. Bitcoin price lost another 21 percent and predictably dragged the rest of the assets down with it. NEO and Bitcoin Cash were hit the hardest, with losses of 30 and 25 percent respectively. Well, what goes up, must experience a correction. Cardano got tired of carrying the outsider banner and fell “only” by 20 percent. Stellar is looking slightly better than the other coins: it’s also down 20 percent, but not preceded by a painful correction as was the case with Cardano. In general, the decline was 23-25 percent for the top 10 group. Bitcoin dominance continues to grow and is now 36.2 percent.

BTC/USD

As expected, buyers tried to take the initiative at the $7,700-$7,500 level, but the increasing negativity in US markets didn’t allow them to succeed. Thus, Bitcoin price broke through the psychological boundary of $7,000, the level of resistance at the 0.786 Fibonacci retracement, and headed toward the last bastion — $6,000.

Picture 1

 

At the moment, bears don’t even need to make a significant effort, because the decline has acquired its own impulse, supported by panic sales. Still, there is a large accumulation of pending purchase orders at the $6,000 level, which means there’s a possibility of a turnaround. Below, there is a set of additional resistances formed by the mirror levels $5,500 and $5,000. Our recommendation: don’t panic and be patient. The denouement is near.

ETH/USD

At the time of writing, Ethereum price reached $625 and found support in the form of an upward channel from November 2017 and the 0.786 Fibonacci retracement. Buyers are actively fighting for this milestone, but further developments will depend on the outcome of the Bitcoin struggle.

Picture 2

 

The next supports for Ethereum are strong mirror levels of $550 and $500. An impressive volume was traded at $500. Moreover, it is psychologically significant, which means that buyers will protect it. We recommend that our readers increase purchases in this range.

XLM/USD

Stellar investors had a very good start to the year, but since then the price has dropped more than thrice. Is this a reason to panic? We believe not because the asset is now firmly established both in the top 10 and the minds of crypto-enthusiasts. At the same time, there may never be a better time to invest in Stellar than now. Even though the lower boundary of the rising channel from the end of November 2017 was unable to stop the fall, the situation is far from critical.

Picture 3

 

First of all, the current Stellar price of $0.28 updated the minimum of the previous global decline of Jan. 17 by only 10 percent. Second, in case of further correction, strong support is provided by the $0.22-$0.24 range, where the mirror level and the 0.786 Fibonacci retracement are located. In a negative scenario, we can expect a spike in buyers' activity at $0.20. We recommend building up positions in the specified range, especially for those who have not yet added this asset to their portfolio.

📈 Pricewise
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Darryn Pollock

Bitcoin’s Price Bottoming Out But Big Prospect for Volatility Traders

While the price of Bitcoin may be causing fear and panic, it is an open invitation to traders who thrive on volatility to return
Bitcoin’s Price Bottoming Out But Big Prospect for Volatility Traders

 

There is no doubting that the most recent price tumble in Bitcoin and related cryptocurrencies from November 15 has caused a bit of fear and panic across the investing market. Those who were looking for their crypto investments to go back up were left shocked, but for traders, there is a glimmer of hope.

Prior to the near 40 percent collapse in the price of Bitcoin, which saw it go from over $6,000 to under $4,000 in two weeks, there was a long bout of near static price volatility. The traditionally wild price swings of Bitcoin abated for some time, which saw a big drop in trading volume.

Traders who had been thriving on the volatile price movements of Bitcoin were suddenly left bored and uninterested as traditional, major stocks like Apple were shook up more violently on a daily basis than the steady cryptocurrency price.

However, the price drop has seen a massive return of volatility for both Bitcoin, and a number of other altcoins — which are trading places in regards to market cap on a regular basis. The price may be falling and causing fear and panic, but there is an increase in trading volume and a bit more excitement for day traders.

Black Thursday

Bitcoin broke from its nearly parallel price movement, which began on September 6, on the same day that Bitcoin Cash began its controversial hard fork. Thursday, November 15 saw the price of Bitcoin drop dramatically form $6,200 to 5,400 — nearly a low for the year. It held steady for a few days before losing another $1,000.

During this period of tumbling prices, Bitcoin has gone as low as $3,600, representing a huge loss in gains. However, in between this dropping price, there has been some up and down volatility that has not been seen for some time.

A chance to cash in

The traditional cryptocurrency investor is either one that trades on the daily, or is in it for the long run — known as Hodlers. Of course, for those who bought in at a time when Bitcoin was going up and topping out at $20,000 in the hope of being a Hodler, this drop in value has been gut-wrenching.

But, for the traders who are looking for quick trades and vast price movements, there is a big chance to play the market and get some quick gains. While the overall trajectory has been downwards, there has also been instances where the price of Bitcoin has rebounded significantly.

In the last few days alone, Bitcoin has gone from $4,200 to its lowest mark in 12 months, but it has also shot back up by almost $700, representing good chances for traders to make quick money.

A boost in trading volume

One big and important metric in the Bitcoin blockchain is the trading volume of the cryptocurrency. It is clear that on big drops in price, there is an increase in trading volume which must be assumed to be a panic sell off, but in general, the trading volume of Bitcoin is up, which could be indicative of increased day trading.

The trading numbers of Bitcoin have been hovering over $8 bln this past week, and this compares to times of low volatility where the volume was hovering below $4 bln.

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David Dinkins

Sierra Leone Announces They Did Not Conduct Recent Presidential Election Via Blockchain

Contrary to prior reports, Sierra Leone did not conduct its presidential election via Blockchain, according to the country’s National Electoral Commission.
Sierra Leone Announces They Did Not Conduct Recent Presidential Election Via Blockchain

In a rebuke to Agora, and to media outlets (including ours) who reported otherwise, Sierra Leone has officially stated that they did not, in fact, use Blockchain in their recent presidential election. Instead, Agora was invited, along with other international observers, to observe the tallying of election results. Sierra Leone’s National Electoral Commission tweeted:

pic.twitter.com/8cLMVvQPkQ

— National Electoral Commission of Sierra Leone (@NECsalone) March 19, 2018

Original story

The story originally reported in many media outlets was that Sierra Leone invited Agora, a Blockchain company, to record votes on the Blockchain as they were counted by hand, ensuring a tamper-proof and immutable record of voting results. This would have been the first time Blockchain was used in a presidential election, or any major election, anywhere in the world.

Correction

While this did happen, the main difference in the original stories and what actually occurred is this: Agora’s Blockchain-based tally is not the official one, nor is it identical to the official results. Agora was invited to observe the election, and they chose to input the results, unofficially, onto a Blockchain as they observed. However, this Blockchain record was by no means the official record of the voting results.

Agora writes on their blog:

“Official election results only come from the NEC. This is stated on Agora’s election results page and in all interviews. Agora’s results are very close to the ones published by the NEC for the same area. We have provided a numerical comparison later in this statement.”

Attack?

Agora claims they are being targeted by a group called Sierra Leone Open Election Data Platform (SLOEDP), who began a campaign attacking claims that Agora’s role in the election was official. The SLOEDP published on its blog:

“Agora is claiming undue credit for doing nothing that helped the people of Sierra Leone. As Sierra Leoneans, we find this unethical and insulting to the people of this country. All we ask for is that the company does the right thing and retract the fake news otherwise we will be forced to take any recourse available to us.”

Proof of concept

This author has no idea if Agora over-reported its role to mainstream media outlets, or if SLOEDP holds a grudge against the company for some reason. However, the similarity of the Blockchain-based tally and the official tally do serve as a proof of concept for Blockchain. Regardless of whose technology gets used in the future, Blockchain-based election reporting appears to hold significant promise for accurately reporting elections and reducing the chances for election fraud.

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Crypto Gags Heewon Jang

You Know This Feeling, Don't You ?

Crypto Gags
Are you waiting another McAfee's scandal for attention ??
You Know This Feeling, Don't You ?

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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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