Will Chainlink Continue Its Winning Momentum for the Short-term?

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February 18, 2020

Chainlink (LINK) has not been able to perform well during the start of the year due to the continual bearish pressure in the crypto market. Even the past one-month price trend presents a dismal performance for the currency, with the price being mostly below the baseline. And recently, the currency has shown a strong upward move amidst heavy fluctuations. The price of LINK crypto has been fluctuating in the range between $2.8 – $4.7 over the past 30-days.

Chainlink Price Analysis

LINK price has been in the doldrums since the bearish momentum took over the crypto market and continues to be under strong bearish grip as seen from the last 30 days’ price trend. Chainlink started the month on a low note at $2.8007 on January 19. It further fell to $2.4989 by 11.48% fall in the next 5 days. There was a slight recovery marked on January 30, with the price being at $2.8729, the recovery being at 15.49%. The price of LINK again had a fall on February 04, where it fell to $2.69 by a marginal drop of 5.48%. From this low, the currency started trading upwards steadily and reached a high of $4.1523 by a huge hike of 54.27%.

After reaching at this high, the LINK price corrected down to $3.8571 on February 13 by a moderate drop. Later, the price again escalated to $4.7362 showing an upward movement at 22.79%. The current day’s price of Chainlink has fallen to $4.4728. The coin has shown good recovery during the fag end of the 30-day price movement but has to be seen in the coming days, whether the coin will be able to maintain this stable upward momentum as the bear pressure is still too strong.

Analysts expect the crypto market to show more stability during the year and LINK coin to follow suit. Investors should wait for the crypto market to be more stable and continue to hold on to their investments. Day traders can still make decent gains if the coin continues to perform like the last few days.

Woori Bank Consolidates Its Two Cambodian Subsidiaries Into WB Finance

By

Marisol Contreras

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February 17, 2020

Woori Bank Merges Its Two Cambodian Subsidiaries Into WB Finance

The Woori Bank of South Korea recently merged two of its subsidiaries WB Finance & Woori Finance Cambodia. The two of its companies are merged into a company that will be called by name, WB Finance Co. The bank would easily penetrate into the financial markets of Cambodia by strengthening its unit of savings bank WB Finance along with the microfinance company, Woori Finance Cambodia.

Woori Bank is also planning to change WB Finance to a commercial lender in order to offer an exhaustive range of services in finance for the market.

The lending institution first arrived in Cambodia in the month of July 2014, following its buyout of Cambodia’s Woori Finance. The growth figures of the company surged 12-fold while the net profit surged 14-fold through the past couple of years ever since the buyout happened. To expand the scope of the retail business, it even bought the WB Finance savings bank in the month of June 2018.

The stable developments of the two firms stimulated its Cambodian operation profits. The net profits grew from 2017’s $4 million to 2019’s $17 million. An official from the bank commented,

The combined assets and profits of the merged entity ranked fifth among savings banks in Cambodia.

Bears Pull Dash Price to $104 Due to Strong Bearish Influence

By

Robert Hill

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February 17, 2020

Dash coin exhibited huge improvement in the first 45 days of the quarter. The price was spotted touching new highs every other day. During the last seven days, the coin was seen breaching 30-days high once again and setting a new at $136. However, in the last two days, the price of Dash cryptocurrency has been dropped badly. The price fell to $120 level yesterday, and today, it is hovering around $105 mark.

DASH Price Analysis

Yesterday, Dash coin was trading at $120 in the initial hours, but then, the price picked up the pace and touched $123 by a moderate hike of 2.64%. Later, the price locked around $121 till 12:01 UTC. From this price point, DASH currency started trading downwards and the price dropped to $101 by a massive fall of 16.51%. After registering this low, the coin marked a moderate hike to $110 by an 8.96% hike. Dash price dropped to $106 at 19:52 UTC and then, it moved to $112 by 5.41%. The intraday movement reflected 8.25% regression.

Today, Dash crypto began the day with a moderate plunge. The price counters moved from $110 to $103 by 6.29% fall. Later, the currency hanged tight around $104. As per the MACD indicator, the signal line moved above the MACD line recently. The same might reflect the downside movement of the coin in the upcoming hours. This can be taken as an indication of a further drop. A few minutes ago, Dash was spotted breaching the immediate support level at $103. The coin has recovered but the possibility of dropping to the next support level at $94.51 in the upcoming days.

Resistance & Support Levels

R1: $122.13, R2: $132.47 and R3: $141.11

S1: $103.15, S2: $94.51 and S3: $84.17

U.S. Treasury Secretary Aims to Bring New Requirements on Crypto

By

David Pender

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February 14, 2020

The U.S. Treasury Secretary Steven Mnuchin stated to the U.S. Senate Committee that The Financial Crimes Enforcement Network (FinCen) is all set to release New Significant Requirements related to cryptocurrencies, the process is underway and the outcomes regarding the plan are yet to be discussed on a broader perspective.

FinCen aims to bring up new requirements to ensure that the technology works forward in the right direction.

Mnuchin stated,

Specifically, on cryptocurrencies, we are spending a lot of time on this, on both an inter-agency basis and with the regulators. We are about to roll out some significant new requirements at FinCEN. We want to make sure that technology moves forward. On the other hand, we want to make sure cryptocurrencies aren’t used for the equivalent of old Swiss secret number bank accounts.

Mnuchin has been persistently giving warning signs that Bitcoin is utilized to perform all prohibited activities like human trafficking, ransomware, drug dealing, etc. He believes that these new requirements will allow keeping a record of where the money goes and to ensure that it is not used in any criminal activities.

FinCEN is looking for $819,000 and employees who can work full-time to build a “Virtual Currency and Cyber Threat Mitigation Program” for FinCen. According to them, these funds will allow them to build international capacity that will ensure they have access to critical information for certainly required investigations, which comprises international components.

On the same lines, FinCen further states,

The utilization of software tools will allow FinCEN to double the number of virtual currencies analyses, corroborate findings, and increase big data analytics capability, allowing for automated analytics and visualization of financial and cyber data. The program enhancement strengthens direct support for law enforcement cases to 130 cases per year, the development of 37 strategic intelligence products, and the provision of 50 training sessions per year.

Based on the Budget 2021, there are few proposals concerning cryptocurrency. The budget by Trump states that advancements such as cryptocurrencies and the increase in correlation of the international monetary sector have resulted in complex criminal organizations and inherently linked financial and cyber crimes and later providing finances to terrorists.

As per the new enforcements and requirements for crypto, the government aims to create a secure network for the transactions and investigate the crimes such as cryptojacking efficiently and find the root cause of its occurrence.

FinCEN has already been strictly enforcing its rules on crypto service providers operating money service businesses, including exchanges. The crypto exchanges will have to verify the transaction details, identify the original parties if transfers are made of $3,000 or higher and further pass on the information to the existing counterparties, if any.

IOTA’s Monthly Price Movement Exhibits Almost 50% Escalation

By

David Pender

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February 14, 2020

The current movement of IOTA is reflecting the possibility of a price correction to support zone. The fluctuation is also felt since yesterday. However, if we broaden the scale to monitor the movement of the coin, then IOTA could be seen registering an almost 47% hike. The price was at $0.213 on January 15, and today, it is at $0.314.

IOTA Price Analysis

IOTA coin was trading at $0.213 on February 15, and in the next 5 days, it escalated to $0.243. Then, the currency locked around the same level. Further, the coin kept upward momentum intact and by January 29, the IOTA price was marked a 24.92% hike and reached $0.292. The coin again locked at the same level till the starting of February. The opening of February month was moderate.

By February 03, the IOTA price was at $0.366 at 09:00 UTC. Then, it dropped to $0.320 by steep fall of 12.54%. After this fall, the currency hovered around the same level, and then, the price slipped to $0.302. After this fall, IOTA marked upward move and escalated to $0.349 on February 12. From January 15 till today, IOTA reflected a 46.82% hike in the price.

As per the MACD indicator, the signal line overpowers the MACD line and the same indicates that the coin may correct downwards in the upcoming hours. The current price of the IOTA coin is $0.314. The currency titled towards the immediate support level at $0.307. The same might get violated in the coming hours.

Resistance & Support Levels

R1: $0.342358, R2: $0.362219 and R3: $0.377484

S1: $0.307232, S2: $0.291967 and S3: $0.272106

Binance Coin Trades with Strong Upward Momentum Over the Last Week

By

Felicia Learned

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February 13, 2020

Binance Coin (BNB) price has been trying to get out of the bearish sentiment since the start of 2020. The coin has seen intermittent levels of upward and downward trends with the bears ruling the roost most of the time of January. The price of BNB coin has been showing a strong uptrend after a sluggish start to the week as seen from the seven-day price chart. The price has been shuffling in the range between $20.53 – $25.58 over the past seven days.

Binance Coin Price Analysis

BNB price has been trading with a strong bullish trend as seen from the seven-day’s price chart. The price was below the baseline on February 07 with the price being at $20.5366. With the price continuing below the baseline, the coin still managed to recover at $22.2579 on the same day showing an upward momentum to the extent of 8.60%. With the market volatility continuing, the price of Binance Coin fell to $20.9818 showing a downward movement of 5.67%.The coin went up on February 09 when the price reached a high of 11.60% at $23.45. It fell marginally to $22.88 on the same day, the fall being at 2.47%. From then on, the price of BNB coin went up and moved above the baseline and reached $25.58 on the next day by 11.93% hike. With the volatility continuing, the currency once again fell to $24.26 by 5.16% drop on February 11. Today, the price of BNB coin has shown a remarkable recovery, and the price touched $25.65.

Binance Coin has been trying to trade above the next resistance $29 or higher. Analysts are banking on the ability of the coin to bounce back after sluggish downturns and expect the coin to pick up its winning momentum during the year.

Investors should not worry about the current volatility in the crypto market as it is a short-term trend, and the market is expected to show more stability during the year. Day traders can continue to trade and make good gains.

Mastercard and Ripple’s Xpring Ally With the Industry Group to Foster Blockchain Education

By

David Pender

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February 13, 2020

Mastercard and Ripple’s Xpring Join Industry

Mastercard recently announced its tie-up with a working group supporting blockchain research and education at universities all over the world.

The Blockchain giant MouseBelt declared this Tuesday that it had appointed 11 new founding members in its Alliance for Blockchain Education. Besides the card network, the members consist of innovation subsidiaries of Ripple, the payments startup and Binanace, the crypto exchange leader. The members also include a list of diplomats from KuCkin, Neo, and ethereum, who are scaling the Matic Network. These representatives are to join 13 new companies, such as Stellar, Wanchain, and TRON, that became a member of the coalition after it was inaugurated in October.

The Alliance for Blockchain Education is a unit of the university program of MouseBelt. Mouse belt is an undertaking to educate and train the budding blockchain developers across 80 student associations worldwide. Members offer funding as well as educational resources, which could help the professors and their students construct curriculums while staying updated with industry trends.

Ashlie Meredith, director of MouseBelt University said,

The members all share our ethos: The best way to invest in space is to make long-term investments in education. The better the education, the better developers and projects we will see.

MasterCard, being one of the greatest payment providers of the world, handles payments worth over $14 trillion each year. Over the last couple of years, it has made strides towards the arena of blockchain technology. One major move towards this was its collaboration with Facebook’s Libra as one of the Founding Members.

Both Visa, as well as Mastercard, leave the collaboration in October admits the legal and regulatory concerns.

Ajay Banga, the CEO, said that he had reneged the company’s coalition with Libra due to the concerns revolving around the regulatory status of the project as well as its viability for the long-term. Mastercard still hasn’t spoken on the reasons that persuaded it to join the Blockchain Education Alliance. A number of media agencies are chasing the company for a response on this and the real reasons are soon to be out.

The Alliance started as a union of over 13 North American universities as has touched over 70 schools all over the Americas. It has also reached some schools from Asia and Europe. Warren Paul Anderson, the chief of developer associations at Ripple’s Xpring, spoke that being a part of the alliance has enabled it to prep and hone the skills of the future developers with the right resources and assets.

He said,

Mousebelt’s mission to promote blockchain technology at the curriculum level within universities is directly aligned with that of Xpring.

Will Monero Continue to Withstand the Ongoing Bullish Momentum?

By

Timmy Murphy

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February 12, 2020

Monero (XMR) price has been trading under the strong bullish influence since the starting of 2020. The XMR coin trades moderately till the last days of January but then it started showing strength and moving in the upward range. Monero price has been trading in the range of $57.19 – $86.51 over this time period.

Monero Price Analysis

XMR price has been trading in a lower range till February month begins. The price has been at a low of $57.19 on January 13, and then, it shot up to $70.48 in the next 4 days, showing a hike of 23.27%. The bears continuing in full swing, the price of Monero coin went down to $59.11 on January 24, showing a downward movement of 15.87%. This did not deter the price of XMR from getting back on an upward rally to $74.44 on January 30, the rally being at 25.95%.

Monero price again faced a marginal drop and fell to $72.18 on February 02 by 3.24%. Then, the currency again managed to recover in the upward range and reached to $86.51 on February 10, showing an upward swing at 19.85%. The current day’s price of XMR coin is at a high of $92.69. Analysts anticipate that Monero may cross its crucial resistance $99 soon.

Current investors can continue to hold on to their existing investments, as XMR is expected to go for a stable turn during the year. Day traders can make quick gains even under the current volatile crypto market.

American Council for Education Receives Funding to Explore Blockchain

By

Ray Buckler

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February 11, 2020

US government funds Education Blockchain Initiative

The American Council for Education (ACE) last week stated that it had received funding from the U.S Department of Education for exploring blockchain in the Education sector. To be more precise, it will be exploring how to implement credentials to share the data between educational institutions and employers; simultaneously offering learners control over their data.

Further, the Government stated that the Education Blockchain Initiative is just a part of a long term effort to offer learners the control of their educational documents. Besides, it anticipates the role of blockchain to certify corporate training accomplishment which ropes in 87 billion dollars in annual spending. Around 738,000 unique credentials are offered in the U.S.

The Education Blockchain Initiative is intended to identify and evaluate how blockchain can enhance the flow of data between educational institutions and employers at the same time. It also aims to empower individuals to transform educational issues into economic opportunity. Additionally, it will incorporate the launch of a competitive challenge for funding the pilot program at the end of the year.

President of ACE, Ted Mitchell said,

This work is about exploring the potential of blockchain technology to give learners greater control over their educational records. It’s about enabling more seamless transitions between and across K-12, higher education, and the workforce. This initiative will explore how this nascent technology can break down barriers for opportunity seekers to fully unlock their learning and achievement.

The initiative’s lead and ACE’s chief Learning and innovation officer Louis Soares remarked that ACE is very excited to lead this initiative and it will make sure that the learning from the project can be accessible over educational institutions. He further added that blockchain has a great potential to connect learning in diverse areas and to help students to accomplish their workforce and educational goals.

Additionally, this initiative starts with the development of research paper which will review the present use of blockchain in the education sector and simultaneously identify opportunities and application that can improve equity in education and workforce insights. Further, it will identify more opportunities and challenges in this sector.

Will Tezos Price be Able to Sustain Current Bullish Momentum?

By

Felicia Learned

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February 11, 2020

Tezos (XTZ) price trades with bullish influence since the start of 2020. From the last few days, investors and traders are managed to gain considerable profits as the price has managed to move in the upward direction. Whether this trend would continue has to be observed in the upcoming days. The price of XTZ has been fluctuating between $1.28 – $2.66 over the past 30 days’ time period.

Tezos Price Analysis

XTZ price had a sluggish start to the month, with the price being below the baseline but has been able to swiftly move up the price ladder over the last few days. The price was at a low of $1.2830 on January 16. The coin managed to have a slow recovery to the extent of 25.91% at $1.6117 on January 22. The bear pressure got too hard to handle and the price once again went down to $1.4725 on January 26, the slowdown being at 8.40% fall.

From then on, Tezos coin marked strong upward momentum and succeeded in pushing its price in the higher range to $2.6594 on February 10, showing an upward price swing at a whopping 80.61%. The current day’s price of XTZ coin has fallen slightly to $2.5636.

Tezos had a slow start to the year, but the price overturn of the past few days has raised the hope of the community. Analysts feel that the currency will finally shrug off the bearish pressure and the price would start a stable upward momentum during the year.