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Madrid, Sep 4 (EFE) .- The market for “fan tokens” (cryptocurrencies of sports entities) currently moves about 550 million dollars (460 million euros) but, according to its promoters, its value could reach 10,000 million dollars (8,400 million euros) in the coming years.

The signing by Paris Saint-Germain of Leo Messi, who received “fan tokens” from the French club, put the focus on this type of cryptoactive, which has skyrocketed its price.

Currently, the cryptocurrency market of sports entities has a value of more than 500 million dollars, according to data from the specialized website Fan Token Rank.

According to Alexandre Dreyfus, CEO of Socios.com, the commercial brand of the HX Entertainment company, which has created most of these digital assets, the market will reach 10 billion dollars in a few years.

Socios.com has signed contracts to create the “fan tokens” of 37 sports organizations, among which are European football teams such as Paris Saint-Germain, Atlético de Madrid or FC Barcelona; national teams such as Argentina and Portugal; Formula 1 teams like Alfa Romeo and Aston Martin, and even esports clubs like Heretics and Allianz.

Although Socios.com is the best known “fan token” company, there are others as well. One of them is Bitci, the Turkish crypto bank that has created the cryptocurrency of the Spanish soccer team (SNFT) and those of other clubs in the Spanish League.

This class of digital assets are a source of income for Socios.com and for the associated clubs, since the “fan tokens” are sold jointly and each organization takes a percentage of the sales.

According to Almudena de la Mata, managing partner of Blockchain Intelligence, the “fan tokens” are one more evidence that crypto assets are imposed as an investment medium with very varied underlying values.

“The value of this class of digital assets lies in the possibility of participating in the club’s activity and in the access to special benefits. Thus, they experiment with new digital forms of citizen participation that could be transferred to other spheres of shared decision such as schools, neighborhoods and associations “, explains De la Mata.

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‘Bitcoin vs Gold‘ – which one is a better option for investment?

This is indeed one of the most common questions asked across financial institutions and investors, on a global scale. While some prefer the ‘yellow metal’ other choose Bitcoin or so-called “digital gold.” This article too covers a similar narrative.

Ronald-Peter Stoeferle, the managing partner of investment management firm Incrementum AG put forward his stance in a recent interview. According to him, there was no competition between the two assets, especially from a portfolio perspective.

Despite being the new “kid on the block,” Bitcoin had attracted a lot of attention from the media. While Bitcoin is considered controversial or an asset with high volatility, Stoeferle opined, “you either love it or hate it, there’s nothing in between…I think what’s missing for gold at the moment is investors’ demand.”

In addition to this, Bitcoin will witness a price appreciation as the next phase of Bitcoin’s price growth is yet to begin. He stated,

“I think if Bitcoin will be around in five to ten years, prices will go to regions that we cannot imagine at the moment. Because, if you really see it as a hedge against inflation… and if you compare it to the size of the real estate market to the bond market…I think there’s a lot of catch-up potential.”

Now having said that, there still lies a long road for Bitcoin to catch up with its direct rival. When you compare the market caps (of the two digital assets), “Gold is at $10 trillion, whereas Bitcoin, is between $800 to $900 billion- so it’s still tiny compared to Gold (but)of course it’s catching up,” Stoeferle added.

With the rise in institutional adoption in the crypto sector, it’ll be interesting to see BTC’s play against Gold.

BTC vs. Gold is an oft-debated topic. For instance, a debate between Bitcoin strategist Greg Foss and gold bug Peter Schiff on the ‘What Bitcoin did’ podcast, saw each side putting forward different narratives of BTC being better than Gold and vice-versa.

More recently, Michael Saylor, Bitcoin bull and CEO of MicroStrategy, boasted about Bitcoin in a tweet.

Whereas other experts remain undeterred on their anti-Bitcoin narrative. As covered recently, CEO of Verde Capital Advisors Leo Kelly criticized Bitcoin when compared to Gold.

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We are delighted to announce that Switcheo is the first decentralized exchange to list the EOS version of LEO. This will allow Switcheo users to trade LEO against EOS and can be found on the market.In addition, we have also added the (ERC-20) trading pair. Users can now buy and sell on and pairs with immediate effect.About SwitcheoNetwork:Switcheo Network is the first decentralized cryptocurrency exchange on the NEO blockchain which now allows trading of EOS, Ethereum and NEO tokens.Our goal is to achieve a DEX network with cross-chain swapping capabilities across popular blockchains, with a focus on delivering a world-class trading experience in a trustless and decentralized environment.For more information on Switcheo:Visit our and check out our Join the conversation on and Follow us on , , and Have any questions? Visit our

67 6 days ago (edited) 18 Min Read 3615 Words On October 12th, our WLEO-ETH liquidity pool was attacked by a known Ethereum-based attacker. We linked the attacking address to a ring of other addresses which pulled off similar attacks (and others). This address continues to launder hundreds of stolen ETH per day through Binance despite widespread reporting and message boards asking Binance to investigate and block this address and its associated ring of accounts. On that date, our pool had reached $450k USD in total liquidity. It was an incredible rise as we blew past any expectations that we had set prior to the launch of Wrapped LEO. If you want to learn more about the WLEO liqudity pool attack, how it happened, our investigation into the issues/attacker and more, please read the WLEO Attack Whitepaper we published. Wrapped LEO is Officially Relaunching on November 12th Around 8 AM CST We've talked about this numerous times and many in the community already have a firm grasp of why WLEO is so vital for us. Hive-Engine is a niche exchange within a niche blockchain. There are plenty of Hive users who don't understand what Hive-Engine is or how to use it and that speaks volumes (pun intended) to the liquidity issues and user-friendliness of the second layer on Hive. An effort is being made to either deliver on SMTs or a decentralized version of Hive-Engine. Regardless of the outcome, our community has grown far beyond the capabilities of Hive-Engine in its current form and we need to branch out to other platforms for a variety of reasons. For the past few months, we've built our own UI from the ground up and subsequently launched a number of onboarding updates to make it easier than ever to sign up to LeoFinance (and Hive). With all of these efforts, outside attention has become increasingly important. LeoFinance is an attention-based platform. We need more users and our goal has always been to onboard the masses to our platform and the Hive blockchain. Wrapped LEO brings about a number of benefits that bring our economy to greater heights: Before the attack on wLEO V1, we were in talks with a major CEX to list WLEO to bring a whole new group of investors and users to our platform. That obviously had to take a backseat as we investigated and solved the issues that led to the attack. Additionally, we were working with a few different ETH-based projects on various forms of collaboration to cross-pollinate the LeoFinance user base with their user bases. Collaboration is the key to growth. We're working overtime to deliver on the best onboarding experience the Hive blockchain has ever had. You can sign up to LeoFinance.io in less than 30 seconds using a Metamask wallet and soon, you'll be able to do the same with other blockchain-based wallets in addition to major web2 apps: Twitter, Google and Facebook. These integrations, however, are useless without marketing, collaboration and eyeballs. Our goal has always been to bring a new wave of attention and development to our project and the entire Hive ecosystem. I think we've done a great job in delivering on this so far, but we still have much work to do. Wrapped LEO is a necessary component in the vision we have moving forward as we aim to onboard thousands, tens of thousands and hundreds of thousands of new users. Join, Create and Earn Crypto on LeoFinance.io The relaunch of Wrapped LEO will bring an exponentially greater level of security to the ecosystem. In this post, we'll cover the 4 most important measures that we've taken to ensure a highly secure, robust and future-proof version of WLEO that we can leverage for the benefits we discussed in the previous section. Under the previous model, Wrapped LEO operated with a mint & burn token distribution. When a user wrapped LEO into WLEO, they were issued brand new WLEO tokens from the minting contract. The attack on WLEO1 was an attack on this minting function. The hacker was able to mint unlimited WLEO because they gained access to the minting new token functionality. This allowed them to take that falsely minted WLEO and swap it into the Uniswap pool to get ETH. With WLEO2, we've introduced a max token supply model which utilizes a send/receive model. This is more in-line with how other crypto tokens function. Having a max supply gives us a lot of advantages. In terms of security, it vastly reduces risk since new tokens cannot be accessed in any way, shape or form. It makes the attack that happened previously entirely impossible (since new tokens cannot be minted using the contract address). It also minimizes any damage if a different attack happened in the future (more on this in the Cold Storage section of this post). Other advantages - which we may explore in a separate post later on - are around partnerships, exchange listings and data aggregators. You may remember that WLEO1 had issues with data aggregators and how they displayed relevant info about our token. This was largely due to the infinite supply. The final advantage I'll mention here is around new token hodlers and their desire to become a liquidity provider (people outside of the Hive ecosystem). We drummed up a lot of attention for Wrapped LEO both within the Hive ecosystem and within the Ethereum eocsystem. Many of these new potential users/investors had concerns over the "infinite" supply of WLEO - under the mint/burn model. No More Minting As you can see in the above screenshot, WLEO has a max supply of 10,000,000 (10M) tokens. This new model with a limited token supply will cover these concerns along with bringing much needed security and usability. To prove that no other tokens can be minted, we utilized the contract address to try and mint more tokens above 10M. This essentially simulates the attack that happened on WLEO V1 - since the attacker gained access to the contract key and then minted WLEOs to their account - when trying to mint 1 WLEO under the new contract, we got this error: View this minting TX error on Etherscan No more tokens can be minted from the contract. Now, the security relies on a cold/hot wallet management system (more on that below). The 10M token number was chosen for a number of reasons. The current circulating supply of native LEO is ~6M tokens. If you include the dev stake/bounty fund (which are minted slowly on the Hive blockchain over the course of several years), then we're right around 9M-10M tokens. This coupled with the inflationary aspect of LEO means that our token supply will likely reach 10M in about 1.5-2 years. Having a max supply of 10M WLEO means that 10M LEO can be wrapped. No more than that can ever be wrapped (under this version of WLEO). We can expect that a significant amount of this supply will remain staked on the Hive blockchain thanks to curation rewards and a variety of other reasons. The interesting dynamics between curation (staking) APY and liquidity providing (LP) APY will also take effect. The more LEO that gets wrapped, the less competition for curation rewards. This will create a dynamic relationship between the amount of LEO that gets wrapped versus the amount of LEO that stays staked on the Hive blockchain. We will likely never utilize the full 10M WLEO. Which leads us into the next two sections about where the WLEO is being stored and why we took such significant measures to put these in place. In order to operate the Wrap/Unwrap oracle aspect of WLEO (allowing users to Wrap LEO into WLEO and unwrap WLEO back into native LEO), we need to have a hot wallet. Under the old model of WLEO, the hot wallet was actually the minting address. This means that when a user wrapped tokens, they were issued tokens utilizing the private key of this minting address. The attacker exposed the greatest flaw in this system and took control of this minting address which allowed them to mint unlimited WLEO. In exploring new models for WLEO and investigating other aspects of security measures, we took notes from the largest exchanges in the crypto space. The way they operate is by utilizing hot wallets which carry enough funds to handle day-to-day transactions. They then store the majority of user funds in cold wallets to avoid attacks. When an exchange gets hacked, they usually get their hot wallet hacked while their cold wallet remains secure. This means that the majority of funds are still securely stored even though a major hack has taken place. With our new model, a hot wallet has been created which will hold just enough WLEO to conduct day-to-day transactions. There are currently about 1.2M LEOs liquid on the Hive blockchain. The WLEO hot wallet currently holds 1M WLEO which we predict will be enough for launch day and likely a few days/weeks afterwards. Once this balance starts to get low, it will be refilled with a small amount of WLEOs to continue servicing wraps by an offline cold wallet token transaction. current balance in the WLEO hot wallet When a user wraps LEO into WLEO, they'll send their LEO to our oracle account on the Hive blockchain and they will receive WLEO from our hot wallet on the ETH blockchain. When a user unwraps WLEO into LEO, they'll send their WLEO to our cold wallet on Ethereum and receive LEO from out hot wallet (oracle) account on the Hive blockchain. While many other security measures have been put in place to avoid attacks on the hot wallet altogether, the hot/cold storage dynamic is one of the most vital aspects of this new version. With this dynamic in place, an attack event would have a minimal impact on the WLEO economy. This caps the amount of damage that can be caused by a security breach. An additional measure was taken to protect against double spends (WLEO unwraps are sent to our cold wallet instead of the hot wallet). Again, as the funds in the hot wallet run low, an offline TX will be created to refill the wallet with an operating amount of WLEOs. A small amount of WLEO will be held in the hot wallet to conduct day-to-day operations. The rest of the WLEO supply will be held in deep cold storage which will only be accessed when the hot wallet needs to be loaded with more WLEO. This means that the cold wallet will actually never be used for online transactions. All of the actions of the cold wallet happen offline. The following diagram depicts the important relationship between cold and hot wallets as it relates to exchanges and how they operate (which also now applies to Wrapped LEO and how it operates): img source Going based on the previous WLEO numbers, we expect around 600k-900k LEO to get wrapped within the first month. The hot wallet will hold 1M WLEO tokens at launch and the remaining 9M WLEO will be held in this offline, cold storage wallet. one and only minting of 10M WLEO followed by 9M going to the cold wallet and 1M going to the hot wallet After a few months (or whenever the hot wallet runs low on WLEO), we'll send additional WLEO to the hot wallet by using projected numbers to assume day-to-day usage of WLEO. The goal is to keep just enough in the hot wallet to operate but keep the amount as low as possible so that in the event of an attack, the damage that can be caused is very minimal (imagine, ~200k WLEOs at risk in the hot wallet at any given time whereas the previous attack leveraged tens of millions of WLEOs which were printed out of thin air). To summarize this vital difference in the WLEO V1 setup vs. the WLEO V2 setup, here are the various wallets involved in each version and what permissions they held. This exposes the major flaw in WLEO V1 and showcases 1 of the main aspects of WLEO V2 security: WLEO V1 Wallet Setup: Address #1 (ETH) - Contract Creator: Address #2 (HIVE)- @wrapped-leo Oracle: WLEO V2 Wallet Setup: Address #1 (ETH) - Contract Creator: Address #2 (ETH) - Hot Wallet: Address #3 (ETH) - Cold Wallet: Address #4 (HIVE) - @wrapped-leo Oracle: We had several developers run security audits on the various aspects of Wrapped LEO 2. This includes our original audits on how the previous version was attacked as we had to do in-depth analyses on all the various aspects of that version in order to pinpoint what caused the attack specifically. Utilizing that, we designed the new and highly secure version of WLEO with the security measures mentioned in this post and more. These initial audits were extremely valuable. Over the past several days, we've had a number of devs run audits on the new Wrapped LEO and surrounding architecture including the oracle node, the front end and the ETH contract itself. These audits were run by a few devs on the Hive blockchain and also a non-Hive code auditor with no relation to our projects or other developers. The goal of these audits was to outline the potential attack vectors for Wrapped LEO V2 and figure out if and how another attack could take place. The result is an extensive list of the architecture for WLEO which outline the level of risk and how likely an attack on that particular aspect would be. To keep this brief, the conclusion is that this version of WLEO addresses the outlined aspects that could potentially be exposed. Throughout this post, we've discussed the key features of the WLEO2 design which specifically address these aspects: The end result in all of this is that we now have a highly secure, robust and exchange-friendly version of WLEO that we can utilize now and in the months & years to come. Big shoutout to @fbslo who helped immensely in this process. He helped us dissect the WLEO 1 issues, find the security flaws and also rebuild WLEO for a highly secure relaunch. If you aren't already (and I don't know why you're not), please go vote for his Hive witness node. He's a buidler through and through. I wish I could say that I came up with this genius tagline, but I can't. The credit goes to Neal for coming up with the simplest way to explain how the WLEO geyser incentives pool for liquidity providers will work. You can read our full post with details on this model (including a link to the WLEO Geyser Simulator we built) or you can enjoy the cliff notes version: The fascinating dynamics of having time-enhanced liquidity incentives are going to take effect immediately on the results in the WLEO-ETH pool (along with our other pools in the future). When a pool is opened (i.e. the WLEO-ETH pool tomorrow), there will be a mad rush to deposit liquidity and be as big of an LP as possible on day 1. From there, the incentives under they Geyser model align with being in the pool for as long as possible relative to other LPs. This means that the greatest incentive lies in the liquidity providers who pool their WLEO-ETH from the beginning and hold it in the pool as long as possible. Taking liquidity out early will cause a major opportunity cost in long-term yield. This is the goal of any liquidity ecosystem: incentivize the best group of users. In this case, it's the users who provide liquidity and leave it in the pool for the long-run as opposed to users who frequently jump in and out of the pool. These long-term LPs also happen to be the users who tend to believe most in the project, since they're providing to the liquidity pool with the expectation that they won't withdraw that liquidity for months or even years in order to maximize their Annual Percentage Yield (APY). Simulated Yield from Our WLEO Geyser Simulation Tool When Will the First Geyser LP Incentive Snapshot Be Taken? The Geyser distribution system starts ~24 hours after launch. The snapshots are taken every 24 hours at 10 AM CST. The WLEO launch date is set for November 12th. On the following day (Friday November 13th 😉), the first Geyser snapshot will be taken. Every single day after that at 10 AM CST, another snapshot will be taken. Again, more details on the snapshots and how the rewards are paid out (monthly) are in the Introducing the WLEO Geyser Model, LEO Token Economy Updates and New Simulation Tool post. Similar to the first WLEO launch, @leofinance will provide an initial WLEO-ETH liquidity of $50k USD to kickstart the pool on launch day. This liquidity will be exempt from Geyser snapshots and distributions and will also remain in the pool for a minimum of 12 months. The launch has been delayed 2 or 3 times due to some issues with Infura and the ETH chain as a whole. As of this post being published (on November 11th), everything is ready for launch. This is somewhat poetic because WLEO V1 was attacked on October 11th, 2020. Can't keep a tough LEO down for long The WLEO relaunch will also be accompanied by a UI update. This will introduce many of the features that we built for https://leofinance.io but had to shelf for a month because if the rebuilding process. Now that WLEO is back, we're also bringing back many of the amazing features that will bring a whole new level of functionality to LeoFinance.io and LeoInfra: Roadmap Progress We've had a few days delay in delivering this post and the WLEO launch but we're still on track for our major releases with LeoInfra and LeoFinance.io which will introduce some mind-blowing features like Twitter onboarding, advanced publishing and more.     LeoFinance is a blockchain-based social media community for Crypto & Finance content creators. Our tokenized app allows users and creators to engage and share content on the blockchain while earning cryptocurrency rewards. Track Hive DataNew Interface!About Us HivestatsLeoFinance BetaLearn More Trade Hive TokensTwitterHive Witness LeoDex@financeleoVote Follow @leofinance for official updates Posted Using LeoFinance Beta

24H News Roundup Sept 28: LEO Whale Moves $5.5M To Bitfinex 1 min read[Policy]1. Homeland Security awarded funds to an Austrian company creating compatibility for blockchain efforts;2. The Libra Association is in discussions with European Union authorities following an opposition voiced by Germany and France;3. The IMF says that stablecoin regulations would need to eliminate risks regarding liquidity of underlying assets.[Cryptocurrency]1. LEO whale moves $5.5M to Bitfinex;2. Libra Association continues the push for European acceptance;3. The Cardano community has access to the Shelly network testnet after it successfully sailed through a test run conducted in London.[Exchange & Wallet]1. Cryptocurrency exchange Coindirect launches an over-the-counter (OTC) brokerage in South Africa.[Others]1. New spyware replaces crypto wallets on clipboard via Telegram.Follow CoinNess on Social Media:* Twitter: * Facebook: * Telegram:* CoinNess App:

After a rough last week, this week is starting off on a good foot as most cryptoassets are trading sideways at the time of writing. It seems that Bitcoin has stabilized at the $8,300 level and most markets are following the same pattern. Lets take a look at some of our favorite cryptocurrencies XRP, LEO and TRX and see what the charts have in store for us. Ripples XRP Price Analysis (XRP/USD) In the last 24hrs, XRP/USD pair has recorded a bullish outlook, having gained momentum climbing from $0.2385 to a high of $0.2636. The pairs price, later on, followed a sideways movement; thus, taking a medium-term break, consolidating between support level $0.2535 and resistance level that was defined near $0.2603. XRP/USD pair is currently trading at $0.2554 jumping by 6.6% over the intraday. That showed high investors sentiments. Besides, the formation of a bullish trend line suggests a continuation of an upside correction in the short-term.Despite the intraday recovery, the technicals are suggesting incoming bearish ran, with both moving averages giving a negative sign. The RSI is heading south, having moved from the overbought zone that shows a negative outlook.On the contrary, the previous massive sell-off of many altcoins, XRP included was due to the plummeting of Bitcoin price. That was affected by the early trading session for bitcoin future platform, the Bakkt. However, today, the market bounce does not have clear reasons. The recent incident of bitcoin industry giant collaborating to rate different popular digital tokens could have perhaps increased investor confidence.Ripples XRP Price Prediction (XRP/USD) A dip below $0.2535 may lead to downside correction near $0.2350. On the upside move, a break above $0.2603 may result in an upside rally near $0.2800.LEOCoin Price Analysis (LEO/USD) Leo began the session, trading at $1.0425 that was followed by a short period of consolidating phase between $1.0414 and $1.0406 critical support level. An upside jump was later seen that shifted the price up to rally at a high of $1.0455 before exhibiting a sharp dip to a low of $1.1.0406. A steady flow later followed above the support level that stood the current price at $1.0412.At the press time, the technical indicators are giving a bearish scenario, with the long-term SMA above the short-term SMA. The RSI is below average that confirms an increase in sell-offs.LEOCoin Price Prediction (LEO/USD) Further downside momentum should be anticipated; thus, investors should take a short position, and place new target at $1.0300. That is if the price manage to break below healthy support level found near $1.0406. Failure to breach this support level may result in an upside correction above $1.0440.Tron Price Analysis (TRX/USD) TRX/USD pair has found strong support at $0.0130 that prevented further downtrend. The coin, therefore, exhibited an impressive performance and is now showing a struggle to break significant resistance level that is near $0.0149 level. Besides, the ascending trend line formed confirmed the bullish market momentum.TRX is averagely down by 4.9%, having moved from $0.0137 to $0.0144 over the last 24hrs. Afterwards, the short-term SMA is above the long-term SMA that gives a positive sign. Thus further upside rally could be possible. In addition, the RSI indicator is above average that shows high demand in the upper price levels.Tron Price Prediction (TRX/USD) A break above $0.0149 could further upside rally near $0.0160. However, a breach below $0.0130 might reverse the trend to a downtrend.Cryptocurrency Charts By Tradingview Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency or digital currency. The post Ripples XRP, LEOCoin (LEO) and Tron (TRX) Price Analysis and Prediction appeared first on The Merkle Hash.Please follow and like us:

After weeks of modest price decline, the crypto markets appear to be mounting a recovery, with bitcoin and altcoins across the board posting in the green. However, Bitfinexs coin dipped below $1 for the first time, constituting a negative return on its private sale price.On Oct. 7, Bitfinex coin LEO as low as $0.96 amidst a general recovery for the rest of the crypto marketplace. While each LEO was initially priced in the private sale at $1, the coin was able to climb close to $2 in mid-June.LEO Token Price | Source: CryptocompareHowever, investors appear wary of the LEO token given its close relationship with crypto exchange Bitfinex, who is facing allegations of market manipulation and a pending lawsuit by the New York Attorney Generals Office.Price of LEO dropped below the private sale price of $1 for the first time today. pic.twitter.com/aoRic8DUeI Larry Cermak (@lawmaster) October 6, 2019On Oct. 5, both Tether and Bitfinex released similar condemning the baseless accusations being placed against the two companies for their potential role in manipulating the crypto markets. The uproar was in response to unpublished research implicating Tether, the issuer of the USDT stablecoin, and Bitfinex for inappropriately influencing bitcoins price.In addition to accusations of manipulation, the LEO token has also been controversial since launching. Some analysts have speculated that the private sale for LEO, which raised $1 billion, was likely an attempt to recoup the $850 million in losses sustained by Bitfinex which started the NYOAGs lawsuit.Featured Image Credit: via Pixabay.com

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This article takes a closer look at the latest price action of Bitcoin (BTC), UNUS SED LEO (LEO), Huobi Token (HT), and KuCoin (KCS) and news stories that might be affecting them.Bitcoin (BTC) According to , since 01:40 UTC on July 30, Bitcoin has been trading below $9,500. At press time (06:16 UTC), BTC is trading at $9,469, down 1.11% in the past 24-hour period:In fact, since the BTC price dropped almost $500 (from $10,062 to $9,518) on July 27, it has been mostly hovering between $9,400 and $9,600. One reason for the BTC price staying below $10,000 these past few days might be that the market is waiting to hear what happens later today at the"Examining Regulatory Frameworks for Digital Currencies and Blockchain" of theU.S. Senate Committee on Banking, Housing, and Urban Affairs (aka).The witnesses will be Jeremy Allaire, Co-Founder, Chairman, and CEO of Circle, who is giving testimony on behalf of theBlockchain Association;Rebecca M. Nelson, a Specialist in International Trade and Finance at the Congressional Research Service; and Mehrsa Baradaran, Professor of Law at University of California, IrvineSchool of Law.You can watch this hearing live on the U.S. Senate's. It will start at 10:00 (Eastern Time or 04:00 UTC) on July 30.According toCryptoCompare, at 11:18 UTC on July 28, theBitcoin (BTC) price is trading at $9,469, which means that it is down 0.55% in the past 24-hour period:Altcoins As for the altcoins, here is how some of the most popular ones are currently doing:UNUS SED LEO (LEO) LEO is the best performing coim/token amonst the top 20 cryptoassets (by market cap). As of 06:41 UTC on July 30, LEO is trading at $1.353, up 3.44% in the past 24-hour period:The bullish mood around Bitfinex's LEO token might be caused by what happened in New York City on Monday (July 29).According to a by Coindesk,New York Supreme Court Judge Joel M. Cohen had to make "a final decision on whether to dismiss the NYAGs case entirely, or rule the other way and reject Bitfinex and Tethers motion to dismiss." Judge Cohen said that he needed more time, which means that there is a chance he will agree with Bitfinex's lawyers and dismiss the case against Bitfinex/Tether entirely. The lack of a ruling means that "Bitfinex and Tether can continue operating their businesses as normal, but Tether still cannot lend any more funds to Bitfinex."Huobi Token (HT) and KuCoin (KCS) Both exchange tokens are in the green while most altcoins are in the red:As , the Co-Founder, CIO, and CEO of Three Arrows Capital pointed out on July 29, both Huobi and KuCoin are launching staking programs, thereby increasing the value of their tokens:Interesting to see $KCS and $HT start as exchange platform tokens and now add staking elements. pic.twitter.com/UUOl6xDlLC Su Zhu (@zhusu) July 29, 2019Featured Image Credit:via Pexels.com

Lionel Messi, the soccer player with the famed left foot coming to Paris Saint-Germain, just made quite the play — into cryptocurrency.

As part of his contract with the renowned French team, Messi is receiving an unspecified “large number” of PSG fan tokens, according to the club.

These are a form of cryptocurrency that, among other things, give owners the right to vote on certain aspects of the team.

PSG fan token owners get a say in naming the year’s best goal, who wins the year-end team award and the motivational message that appears on the dressing room wall.

Internationally-known soccer teams such as Italy’s AC Milan, and England’s Manchester United, have fan tokens. So does UFC, the mixed martial arts league.

The fan tokens in Messi’s “welcome package” are just one part of the 34-year-old Argentine’s two-year contract with an option for a third year at Paris Saint-Germain that’s reportedly in the range of €25 million to €30 million ($25.3 million to $35.2 million), according to Reuters.

Messi’s big batch of fan tokens provides a high-profile glimpse of an emerging way of getting paid via cryptocurrency and digital assets — in professional sports and elsewhere.

In 2020, American football player Russell Okung, an offensive tackle who’s a free agent, said he would put half of his $13 million salary into bitcoin BTCUSD, -0.11%.

Last month, New York Giants running back Saquon Barkley said he’ll accept pay for all his future endorsement and marketing deals in bitcoin.

Barkley says the move is a block against rising inflation, the athlete said last month. “You see inflation and you see how high it is right now, and you learn that you can’t save your wealth. So that’s why I’ll be taking my marketing money in bitcoin,” Barkley told The Best Business Show.

(New government numbers have the inflation rate at 5.4% from July 2021 to the same point last year.)

Meanwhile, approximately 40% of people said they’d consider getting some of their salary via cryptocurrency, according to a May survey of 2,000 people by The Ascent. Around 31% said they’d think about getting their entire compensation via cryptocurrency, the survey said.

Kell Canty, CEO of Verady, which offers cryptocurrency tax-accounting products to individuals and businesses, says in his line of work, he increasingly sees people asking employers for a portion of their pay in cryptocurrency. “It’s being asked for. It’s not being forced on them,” he said.

So do you want to get paid like Messi (even to a smaller degree)? Without some know-how, your tax situation could get, well, messy. Keep these things in mind:

First off, the Internal Revenue Service views virtual currency as property. If it grows in value and the owner sells it more than a year after acquiring it, it’s subject to long-term capital gains taxes.

The rate is 15% for many people depending on their income, and it’s currently 20% for high-income earners, plus a net investment income tax of 3.8%.

However, if someone is paid in cryptocurrency, the payment counts as ordinary income, taxed under their existing tax bracket. The value of the payment is measured in U.S. dollars on the date of receipt, the IRS noted.

If you are paid in crypto and you hold onto it? Firstly, the owner will pay income tax and then they will pay long-term capital gains taxes if they sell more than a year later, Canty noted.

The IRS has cautioned that it is becoming an increasingly tough referee on virtual-currency taxation, and on the reporting of holdings and transactions.

If gig workers and independent contractors receive crypto in exchange for their goods and services, it’s subject to self-employment taxes, the IRS noted.

As for the wisdom of getting paid a bit in crypto? Canty acknowledges that given his work, he’s “somewhat predisposed.”

Still, he said, if a person can afford to carve out a very small portion of their pay to crypto, then why not? As long as you are prepared to endure the currency falling as well as rising.

Some advisers have said devoting 2% to 5% to cryptocurrency is a potential play.

“If you are young and risk-comfortable, some people are doing extraordinarily well with that,” he said.

In fact, Canty added, he knows of companies that paid some workers in bitcoin in the early days of that volatile cryptocurrency, which was valued at $6,359 in mid-August 2018 and was trading this week at $46,590. The employees who held onto the currency were able to retire.

But Jordan Benold, a Dallas, Texas-area financial adviser, suggests staying on the sidelines. He does not advise accepting cryptocurrency as compensation.

If he was well-heeled like Messi, he said, he may have a different opinion. But for everyone else focused on paying bills and retiring with sufficient savings, it’s a bad move, Benold said.

“Crypto is still highly speculative where fluctuations go on a rollercoaster from day to day or even hour to hour,” he said. “I would not want any of my clients riding that ride with their portfolios.”

This article provides a quick overview of how the crypto markets have been doingwith the focus on Bitcoin (BTC), Ether (ETH), Cardano (ADA), Unus Sed Leo (LEO), and Ethereum Classic (ETC)over the past 24-hour period.To give you a rough idea of how things are going today, 15 out of the top 20 cryptoassets (by market cap) are currently in the red (against the dollar).All market data used in this article was taken around 07:50 UTC on 6 October 2019 from, which also generated the price charts shown in this article.Bitcoin (BTC) It hasn't been a good weekend so far for Bitcoin. It was trading around $8155 at 00:00 on October 5, and as you can see in the 24-hour price chart above, at press time, it is trading at $8,017, down 1.73% in the past 24-hour period.By 07:00 UTC on October 6, the Bitcoin price had dipped below $8,000; the last time the BTC price was below $8K was back on September 30, as you can see in the two-week price chart shown below:xxxEther (ETH) Ether's price has been relatively stable during October. It started the month at $179.35 and it is currently trading at $174.24, i.e. it has dropped only 2.84% this month.What Ethereum fans are excited about even more than the Ether price returning to above $180 (where it was at one point on October 3) are exciting announcements from the upcoming , which is being held this year October 811 in Osaka, Japan.On October 4, during the , the recent problems with the Ropsten test network for the Istanbul hard work was discussed.After the meeting, , Product Manager for Pantheon, PegaSys's enterprise-focused Ethereum client, summarized what was said about Ropsten with the following two tweets:In short, Ropsten had a large miner on the pre-Istanbul fork, causing a large network split, where Constantinople still was the heaviest chain. This made it hard for nodes on the network to find post-Istanbul peers. Tim Beiko (@TimBeiko) October 4, 2019As a fix, people using Ropsten can use geth's --whitelist flag to find peers running the Istanbul upgrade. Full command posted here: https://t.co/l4q1sQqH0V Tim Beiko (@TimBeiko) October 4, 2019Cardano (ADA) ADA started this month at $0.03905, and currently it is trading at $0.03962, which means that it is up 1.45% in the month-to-date.On October 3, Charles Hoskinson, the CEO of IOHK, broadcast a short video (from Vancouver, Canada) on Periscope to answer "the shoe question", i.e. to say whether or not he needed to eat his shoe.What this refers to is a statementHoskinson made during an on April 25 about the Shelley mainnet release:Shelley will happen this year... I will eat my own shoe, if it does not.

Bitfinex Cryptocurrency Exchange Gives Details on Utility Token LEO Hong Kong-based cryptocurrency exchange Bitfinex on May 17, 2019, revealed details about its utility token UNUS SED LEO. The native cryptocurrency will officially commence trading on Bitfinex from May 20, 2019. The rapidly increasing number of cryptocurrency exchanges has no doubt heated up market competition. Exchanges are slowly realizing that just being a trading platform will no longer cut it and that to ensure their survival in the industry, they would need to offer incentives that make customers stick to a particular trading platform. Changpeng Zhao's Binance exchange was the first to realize this which led to them launching the native BNB utility token which offers customers reduced trading fee and participation in the initial exchange offerings (IEOs) on the Binance Launchpad, among other things. Now, it seems that Bitfinex has taken a page out of Binance's book by launching its utility cryptocurrency called UNUS SED LEO. The project's whitepaper published May 10, 2019, described LEO as "a utility token at the heart of the iFinex ecosystem." Notably, iFinex is the parent company of Bitfinex and its closely affiliated stablecoin issuing concern, Tether (USDT). According to Bitfinex's Medium post, LEO will be tradable against bitcoin (BTC), USDT, EOS, ether (ETH), and USD pairs. The announcement about the launch of the LEO token comes just a few days after Bitfinex's CTO, Paolo Ardoino, tweeted that the exchange had raised $1 billion in a private sale for its upcoming IEO. The exchange's Medium post reads in part: "Upon publishing the UNUS SED LEO whitepaper last Friday, May 10th, Bitfinex conducted and completed a private sale of 100% of outstanding UNUS SED LEO tokens in exchange for one billion USDt worth of Bitcoin, USD, and USDt." However, the timing of such a development has turned heads within the global crypto community as the exchange, along with its closely-held sister concern Tether, is currently amid multiple controversies. As reported by BTCManager on April 26, 2019, the New York Attorney General (NYAG) office had accused Bitfinex and Tether of conspiring to cover an $850 million business loss by inappropriately using clients' funds. Later, it also came to light that only 74 percent of Tether's USDT stablecoin was backed by cash and other short-term liquid assets, further casting doubts on the legitimacy of the so-called "king of the stablecoins." Our Bitcoin Address: 3AbQrAyRsdM5NX5BQh8qWYePEpGjCYLCy4 document

The HT/USDT pair has been trading inside a descending channel since topping out in early August. The moving averages are on the verge of a bearish crossover and the RSI is in negative territory, which indicates that bears are in command.Currently, the bulls are attempting to defend the 61.80% Fibonacci retracement level of the rally from $0.88 to $5.3506. This shows demand at lower levels. If the buyers can push the price above the resistance line of the channel, the pair is likely to pick up momentum. The first target is the $4.08 to $4.37 zone and above it $5.3506. We will wait for the price to sustain above the descending channel before turning positive.Conversely, if the price turns down from the moving averages at $3 or from the resistance line of the channel at $3.30 and plummets below the recent low of $2.7539, the pair will turn hugely negative.BTC/USD Bitcoin (BTC) has held up relatively well in the current decline. This shows that stronger hands are not dumping their positions. The digital assets market dominance has increased from about 66.3% to about 68.3% over the past week.Earlier this week billionaire Bitcoin bull Tim Draper reiterated his long-term bullish view on Bitcoin. He expects Bitcoin to reach $250,000 by 2022. Drapers view was endorsed by Brian Kelly, founder and CEO at BKCM LLC and Fundstrat Global Advisors co-founder Tom Lee. Is Bitcoin a good investment at current levels or can it plummet further? Lets find out.The BTC/USD pair is stuck inside a falling wedge pattern. If the bulls can propel the price above the wedge, it will signal a change in trend. The bulls held the critical support at $6,512.01 during the week, which shows buying at lower levels.A breakout of $7,856.76 will complete a double bottom pattern, which is a bullish sign. This setup has a minimum target objective of $9,201.51. Above this level, a move to $10,360.89 is possible. Therefore, traders can buy on a close (UTC time) above $7,856.78 and keep a stop below the recent low of $6,435.Contrary to our assumption, if the price turns down from the downtrend line, the pair might consolidate between $7,856.76 and $6,512.01 for a few more weeks. The pair will resume its downtrend on a break below $6,512.01. Such a move will dampen sentiment and delay the start of the next leg of the up move.TRX/USD TRONs (TRX) founder Justin Sun has committed $1 million to young Swedish activist Great Thunbergs initiative to raise awareness about the climate. The altcoin was the third-best performer of the past seven days with a marginal rise of just over 1%. Can the bulls build on this outperformance or will the bears pounce on this attempt to bounce? Lets study the chart.The bulls have once again held the support at $0.011240, which is a positive sign. This shows accumulation by the buyers at lower levels. The TRX/USD pair can now move up to $0.0163957, which is likely to act as a strong resistance.If the price turns down from $0.0163957 or from the 20-week EMA, it might remain range-bound for a few more weeks. The pair will resume its downtrend on a break below $0.011240.Conversely, if the bulls can scale the price above the 20-week EMA, a rise to $0.02340 is possible. We will wait for the price to rise and sustain above $0.0163957 before turning positive in the short-term.NEO/USD NEO was among the top five performers for the second consecutive week. This is a positive sign as it shows that NEOs investors are not dumping their holdings in the recent decline. Is this a sign that the altcoin is getting ready for a sharp rebound? Lets find out.The bulls bought the dip below $8 in the past week, which is a positive sign. It shows buying at lower levels. However, we anticipate the NEO/USD pair to face stiff resistance at the moving averages.If the price turns down from the moving averages, the bears will again attempt to sink the pair to the critical support at $5.58. A break below this level will be a huge negative and will resume the downtrend.On the other hand, if the bulls can propel the price above the moving averages, a rally to $13.88772 is likely. We will wait for the price to bounce off the support at $5.58 or sustain above the moving averages before turning positive.LEO/USD UNUS SED LEO (LEO) slipped by about 2% in the past seven days but still turned out as the fifth-best performer among major cryptocurrencies. This shows that the sentiment remains negative across the crypto sector.Cryptocurrency exchange Bitfinex is attempting to attract customers by expanding its services. It recently announced that its users can purchase cryptocurrencies with both debit cards or credit cards directly. Will these steps by Bitfinex boost LEOs price? Lets analyze its chart.The LEO/USD pair is in a downtrend. It dipped to $0.83712 levels during the week, which was very close to our target objective of $0.8276. We anticipate this level to provide some support. The RSI has also dipped into the oversold zone, which suggests a relief rally is likely.On the upside, the bulls will face stiff resistance at $0.941. If the price turns down from this level, the bears will attempt to resume the downtrend. A break below the recent low of $0.83712 can drag the price to $0.65.The pair will show strength if it sustains above $0.941. We will wait for a new buy setup to form before turning positive.The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, you should conduct your own research when making a decision.The market data is provided by the HitBTC exchange.Previous ArticlePayment Processing Companies Are Focusing on CryptoNext ArticleCraig Wright Reveals Document Claiming Origin of Satoshi Nakamoto Name

Cryptocurrency information analytics agency, CoinMetrics, lately revealed the 28th challenge of its weekly State of the Community sequence, reporting adjustments in community information over the previous week. In accordance with CoinMetrics, mining income for each Bitcoin and Ethereum are down considerably for the second consecutive week, principally because of the pronounced fall in costs over the identical interval.The report additionally confirmed that ETH charges dropped by 14.4% this week, in comparison with the 20% progress seen the week earlier than, which CoinMetrics attributed to the launch of the Gods Unchained market.The info additionally highlighted that Bitcoins market worth to realized worth (MVRV) ratio had began to extend over the previous week, after dipping to a six month low of 1.23 final week. The report famous that as of 1 December, BTC MVRV was 1.32.After the 121% bounce in transactions final week, XRP noticed one other 50% enhance this week. Nevertheless, regardless of elevated utilization, the XRP market cap dropped by 6.8% this week, a higher loss than those recorded by Bitcoin and ETH over the identical interval. CoinMetrics is unclear on whether or not Ripples current $50 million funding into MoneyGram had straight contributed to elevated exercise.The report additionally confirmed that Bitcoin was down 20% for the month, although BTCs worth was nonetheless barely greater than the lows seen on 25 November. Additional, the report said that Monero, EOS, and Cardano have staged first rate recoveries, regardless of being down for the month.Tezos was reported to have proven a 44% acquire for the month of November which, based on CoinMetrics, was pushed partially by Coinbases current announcement of assist for XTZ staking rewards on the change.Moreover, the report famous that the iFinex token, UNUS SED LEO, exhibited unusually low correlation with Bitcoin for unknown causes, regardless of nearly all different property exhibiting excessive correlation over the interval.

The UNUS SED LEO (LEO) token, native to the Bitfinex exchange, fell below the $1 dollar price, breaking under the nominal peg of the initial token sale. LEO has seen relatively low demand, and so far managed to peak at $1.99, later deflating slowly toward $1. LEO Falls Under IEO Price for the First Time Since Token Sale LEO is a curiosityin the crypto space, spawned after an initial exchange offering (IEO) by Bitfinex that ran until June 10. According to the claims of Bitfinex, the exchange raised $1 billion from private placements. Conveniently placed, the IEO in effect offset the $900 million debt to Tether, Inc.Price of LEO dropped below the private sale price of $1 for the first time today. pic.twitter.com/aoRic8DUeI Larry Cermak (@lawmaster) October 6, 2019Bitfinex, on its side, resorted to taking out a loan from Tether, when it lost $850 million due to an ongoing investigation against CryptoCapital.Hence the role of LEO was to add new liquidity to the exchange, while offsetting the still locked funds. But now, with a price under $1, Bitfinexs native token looks less confident. The asset had managed to keep an even keel at $1.04 even as all altcoins were logging double-digit losses in a recent sell-off.This price behavior led to suggestions that LEOs price was manipulated to keep within certain boundaries. There is also little interest in LEO trading, despite Bitfinex opening up the LEO markets to smaller traders and lowering the participation barriers.LEO slid to $0.96 on volumes of just $9.94 million, a limited performance for a native exchange token. LEO saw its volumes pick up slightly in October, though not enough to become highly attractive.When did you unpack your $LEO bags?? pic.twitter.com/6wBSE7RLiy CrypticalMass (@CrypticalMass) October 6, 2019Price Falls as Tether, Bitfinex Fear Lawsuit There is one more coincidence about LEO. The price drop arrived just a few days after Bitfinex issued a statement anticipating a mercenary lawsuit against the iFinex company and Tether, Inc. The two companies are related in their finances, and felt attacked by an academic paper claiming they colluded to manipulate the price of Bitcoin (BTC).Unfortunately, LEO arrived at a time when Bitfinex volumes for BTC were extremely small. In the past however, Bitfinex had had the largest share of BTC trading, and new tranches of USDT from the minting wallet went directly to the exchange. Soon thereafter, Bitcoins price would almost always rally as a result.Despite academic and layman observations, so far there has been no official investigation into the price behavior of BTC and the influence of USDT. The stablecoin keeps to its dollar peg, and is widely used on exchanges.What do you think about UNUS SED LEO? Share your thoughts in the comments section below! The post UNUSED LEO: Bitfinexs Token Crashes Beneath its $1 Private Sale Price appeared first on Bitcoinist.com.Please follow and like us:

The perspectives and reviews expressed listed below are only the ones of the writer and dont essentially mirror the perspectives of Cointelegraph. Each and every funding and buying and selling transfer comes to menace, you will have to habits your individual analysis when you make a decision.The marketplace information is supplied by means of the HitBTC change.Theres a sea of purple as many of the most sensible 20 currencies are appearing adverse returns for the week. This presentations that the marketplace is in a undergo grip. The whole marketplace capitalization has dipped from over $385 billion on June 27 to simply over $262 billion at press time. Even though Bitcoin costs have additionally corrected up to now few days, the main virtual forex has controlled to carry marketplace dominance above 64%. This presentations that marketplace contributors want Bitcoin over altcoins.Galaxy Virtual CEO Mike Novogratz believes that Bitcoin is more likely to consolidate between $10,000 and $14,000. Then again, as soon as institutional hobby choices up, Bitcoin will transfer as much as its all-time-highs prior to the top of this yr. Lets see if we spot any purchase setups within the most sensible 5 performers of the previous seven days.EOS/USD Because of the unsure regulatory surroundings, California-based crypto pockets carrier Abra has limited American customers from maintaining 5 cryptocurrencies, together with EOS, after August 29. EOSFinex, the EOS-based decentralized cryptocurrency change by means of Bitfinex, has finished its beta section and is anticipated to release on July 30.The EOS/USD pair broke under $three.8723 within the week prior to nevertheless it temporarily climbed again to near above the important enhance. This presentations purchasing at decrease ranges however call for dries up at upper ranges, therefore, the fee has failed to bop sharply from the enhance.These days, bulls are making an attempt to carry the enhance. If a success, the virtual forex would possibly attempt to upward push again above the shifting averages and rally against the hot highs of $eight.6503. Each shifting averages have flattened out, which issues to a consolidation in the following few weeks.Then again, opposite to our expectancies, if the fee plunges under $three.8723, it will descend to the following enhance at $1.55. If this enhance breaks, a brand new downtrend will get started, which can be very adverse. We propose buyers watch for the fee to breakout and shut (UTC period of time) above 20-week EMA prior to purchasing with a forestall lack of $three.20.LEO/USD Arrington XRP Capital and the Arca crypto funding fund have acquired a stake in Unus SedLeo (LEO), the local token of Bitfinex, thru offshore funding cars. This may occasionally result in extra hassle for Bitfinex, which is already underneath investigation for providing buying and selling products and services to the citizens of New York and not using a license. The corporate, alternatively, denies doing so. Even with information now not being very favorable, the fee has became out to be a winner up to now seven days. Can it construct on its power? Lets analyze the chart.Because the LEO/USD pair has a brief buying and selling historical past, we will be able to use the day by day chart to investigate it. The pair is consolidating between $1.20-$1.40. As the fee is buying and selling under each shifting averages and the RSI is as regards to the oversold zone, the merit is with the bears. If the virtual forex breaks under $1.20, it will right kind to the low at $1.0075. A breakdown to new lows can be a bearish signal.Conversely, if the fee makes an attempt a restoration, it is going to face resistance at 20-day EMA and above it at $1.40. A breakout of $1.40 would be the first indication that a temporary backside could be in position. At the upside, the primary goal is the 50-day SMA, above which, a rally to $2 is possible. We propose buyers watch for the fee to damage out and maintain above $1.40 prior to making an attempt to shop for it.ETC/USD Even though Ethereum Vintage (ETC) has declined over four% up to now seven days, it has became out to be the third-best performer amongst primary cryptocurrencies. Can the fee recuperate or will it fall farther from present ranges? Lets to find out.The ETC/USD pair is trying to shape a big base on the backside. Its been buying and selling within a wide variety of $three.40-$10 since end-October closing yr. This can be a sure signal since the longer the bottom, the more potent the eventual breakout from it is going to be. The cost became down from the overhead resistance of $10 after bulls did not scale it for 5 weeks (enclosed in an ellipse at the chart).These days, the fee has dipped under each shifting averages, that have flattened out. This presentations that the fee is more likely to stay within the vary for the following few weeks. If it step by step drops down as regards to the enhance at $three.40 and bounces off it, we will be able to counsel lengthy positions as it is going to be offering a low-risk purchasing alternative.Our impartial view can be invalidated if the bears sink the pair under $three.40. In one of these case, the cryptocurrency will get started a brand new downtrend.ADA/USD Cardano (ADA) used to be the fourth-best performer of the previous seven days even supposing it fell by means of over four%. Right through the week, it rallied to grow to be the tenth-largest cryptocurrency by means of marketplace capitalization. Will it take care of its place or will it once more fall out of the highest ten? Lets to find out.The bears broke under the enhance of $zero.0592761 within the week prior to however they may now not maintain the decrease ranges. This presentations consumers are prepared to lap up the cryptocurrency on dips. Then again, bulls have now not been ready to push the fee upper up to now seven days. This presentations that purchasing dries up at upper ranges. The ADA/USD pair has shaped an within day candlestick trend, which presentations confusion amongst consumers and dealers in regards to the subsequent route.If the fee plunges under $zero.zero50, it will right kind to $zero.035 and if it cracks that barrier, a retest of the once a year lows is most probably. Then again, if the fee climbs above each shifting averages, its most probably to succeed in the overhead resistance of $zero.10. We consider buyers will have to watch for the fee to scale above 20-week EMA prior to organising recent positions.XMR/USD Monero (XMR) is trying to make a spot within the most sensible 10 cryptocurrencies by means of marketplace capitalization. Do the technicals at the chart display any bullish setup? Lets to find out.The bulls are making an attempt to carry the XMR/USD pair above the enhance at $81. Even though bulls bought the dip to $71.842 within the week prior to, they have got now not been ready to drive a rebound. This presentations a loss of call for at upper ranges.These days, the fee is soaring round $81. If it fails to bop from this stage, the likelihood of a breakdown will increase. The following enhance at the drawback is at $60.Each shifting averages have flattened out and the RSI is as regards to 50, which issues to a consolidation for the following few weeks. If the pair reverses route from present ranges and strikes above $90.114, it is going to attempt to climb as much as $120. Then again, we dont to find any purchase setups, therefore, we stay impartial on it.The marketplace information is supplied by means of the HitBTC change.

The perspectives and critiques expressed listed here are only the ones of the creator and dont essentially mirror the perspectives of Cointelegraph. Each and every funding and buying and selling transfer comes to menace, you must habits your personal analysis when you make a decision.The marketplace information is supplied through the HitBTC trade.Theres a sea of pink as lots of the most sensible 20 currencies are appearing unfavorable returns for the week. This displays that the marketplace is in a endure grip. The full marketplace capitalization has dipped from over $385 billion on June 27 to only over $262 billion at press time. Although Bitcoin costs have additionally corrected prior to now few days, the main virtual forex has controlled to carry marketplace dominance above 64%. This displays that marketplace members want Bitcoin over altcoins.Galaxy Virtual CEO Mike Novogratz believes that Bitcoin is more likely to consolidate between $10,000 and $14,000. Then again, as soon as institutional passion choices up, Bitcoin will transfer as much as its all-time-highs earlier than the tip of this yr. Lets see if we spot any purchase setups within the most sensible 5 performers of the previous seven days.EOS/USD Because of the unsure regulatory atmosphere, California-based crypto pockets provider Abra has limited American customers from preserving 5 cryptocurrencies, together with EOS, after August 29. EOSFinex, the EOS-based decentralized cryptocurrency trade through Bitfinex, has finished its beta segment and is anticipated to release on July 30.The EOS/USD pair broke under $three.8723 within the week earlier than nevertheless it temporarily climbed again to near above the vital make stronger. This displays purchasing at decrease ranges however call for dries up at upper ranges, therefore, the fee has failed to dance sharply from the make stronger.Recently, bulls are making an attempt to carry the make stronger. If a success, the virtual forex may attempt to upward push again above the shifting averages and rally against the hot highs of $eight.6503. Each shifting averages have flattened out, which issues to a consolidation in the following few weeks.Then again, opposite to our expectancies, if the fee plunges under $three.8723, it would descend to the following make stronger at $1.55. If this make stronger breaks, a brand new downtrend will get started, which can be very unfavorable. We recommend investors look ahead to the fee to breakout and shut (UTC period of time) above 20-week EMA earlier than purchasing with a forestall lack of $three.20.LEO/USD Arrington XRP Capital and the Arca crypto funding fund have acquired a stake in Unus SedLeo (LEO), the local token of Bitfinex, via offshore funding automobiles. This may increasingly result in extra bother for Bitfinex, which is already underneath investigation for providing buying and selling services and products to the citizens of New York and not using a license. The corporate, on the other hand, denies doing so. Even with information now not being very favorable, the fee has became out to be a winner prior to now seven days. Can it construct on its energy? Lets analyze the chart.Because the LEO/USD pair has a brief buying and selling historical past, we will be able to use the day by day chart to investigate it. The pair is consolidating between $1.20-$1.40. As the fee is buying and selling under each shifting averages and the RSI is as regards to the oversold zone, the merit is with the bears. If the virtual forex breaks under $1.20, it will right kind to the low at $1.0075. A breakdown to new lows can be a bearish signal.Conversely, if the fee makes an attempt a restoration, it is going to face resistance at 20-day EMA and above it at $1.40. A breakout of $1.40 would be the first indication non permanent backside may well be in position. At the upside, the primary goal is the 50-day SMA, above which, a rally to $2 is possible. We recommend investors look ahead to the fee to wreck out and maintain above $1.40 earlier than making an attempt to shop for it.ETC/USD Although Ethereum Vintage (ETC) has declined over four% prior to now seven days, it has became out to be the third-best performer amongst main cryptocurrencies. Can the fee get better or will it fall farther from present ranges? Lets to find out.The ETC/USD pair is making an attempt to shape a big base on the backside. Its been buying and selling within a wide variety of $three.40-$10 since end-October remaining yr. It is a certain signal since the longer the bottom, the more potent the eventual breakout from it is going to be. The cost became down from the overhead resistance of $10 after bulls did not scale it for 5 weeks (enclosed in an ellipse at the chart).Recently, the fee has dipped under each shifting averages, that have flattened out. This displays that the fee is more likely to stay throughout the vary for the following few weeks. If it steadily drops down as regards to the make stronger at $three.40 and bounces off it, we will be able to counsel lengthy positions as it is going to be offering a low-risk purchasing alternative.Our impartial view can be invalidated if the bears sink the pair under $three.40. In this type of case, the cryptocurrency will get started a brand new downtrend.ADA/USD Cardano (ADA) was once the fourth-best performer of the previous seven days even if it fell through over four%. All over the week, it rallied to turn out to be the tenth-largest cryptocurrency through marketplace capitalization. Will it take care of its place or will it once more fall out of the highest ten? Lets to find out.The bears broke under the make stronger of $zero.0592761 within the week earlier than however they may now not maintain the decrease ranges. This displays consumers are prepared to lap up the cryptocurrency on dips. Then again, bulls have now not been in a position to push the fee upper prior to now seven days. This displays that purchasing dries up at upper ranges. The ADA/USD pair has shaped an within day candlestick development, which displays confusion amongst consumers and dealers in regards to the subsequent route.If the fee plunges under $zero.zero50, it will right kind to $zero.035 and if it cracks that barrier, a retest of the once a year lows is most likely. Alternatively, if the fee climbs above each shifting averages, its most likely to succeed in the overhead resistance of $zero.10. We imagine investors must look ahead to the fee to scale above 20-week EMA earlier than organising contemporary positions.XMR/USD Monero (XMR) is making an attempt to make a spot within the most sensible 10 cryptocurrencies through marketplace capitalization. Do the technicals at the chart display any bullish setup? Lets to find out.The bulls are making an attempt to carry the XMR/USD pair above the make stronger at $81. Although bulls bought the dip to $71.842 within the week earlier than, theyve now not been in a position to pressure a rebound. This displays a loss of call for at upper ranges.Recently, the fee is soaring round $81. If it fails to dance from this degree, the likelihood of a breakdown will increase. The following make stronger at the problem is at $60.Each shifting averages have flattened out and the RSI is as regards to 50, which issues to a consolidation for the following few weeks. If the pair reverses route from present ranges and strikes above $90.114, it is going to attempt to climb as much as $120. Then again, we dont to find any purchase setups, therefore, we stay impartial on it.The marketplace information is supplied through the HitBTC trade.

Most top performers of the past week are at critical levels. Will they break out and move up or break down and drop lower? Lets look at the charts.The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, you should conduct your own research when making a decision.The market data is provided by the HitBTC exchange.About 15 countries, including the G-7 nations, have agreed to create a new to share personal data of cryptocurrency users to keep a check on money laundering and other illegal activities. The Financial Action Task Force, an international organization comprising more than 30 member countries and economies, is likely to design the system and come up with detailed measures by 2020.While curbing the illegal use of cryptocurrencies is positive, central banks and regulators keep neglecting the various problems that cryptocurrencies and blockchain technology plan to address. However, even with all the resistance, spending on blockchain solutions is likely to reach almost in 2023, according to a report by United States-based market research firm International Data Corporation. This amounts to a five-year compound annual growth rate of 60.2% between 20182023, which is a huge positive.While Bitcoin is a big beneficiary during times of geopolitical tensions and trade wars, several altcoins are likely to benefit from specific use cases. Lets look at the top five performers of the past seven days and see if we spot any bullish patterns on the chart.BNB/USD Binance was in the thick of news last week on reports of a Know Your Customer data. Though Binance CEO Changpeng Zhao tweeted not to fall for the FUD, the exchange did not give any firm news on whether the leak had happened. They believe that the images did not have a watermark that Binance uses for its KYC documents. According to them, the photos are from a period when the exchange was using a third-party service provider to process its KYC verifications.However, this news did not cause any damage to the price of Binance Coin () and it turned out to be the best performer of the week. In other news, Binance US is planning to add about 30 digital assets for its US customers. With mixed news, what does the chart project?The trend in the BNB/USD pair is up. The correction that started at $39.5941 found buyers at $24.1709. The price did not close (UTC time) below the 20-week EMA, which is a positive sign. Currently, bulls are attempting to resume the uptrend, but are facing resistance at the uptrend line. The trend is weakening as seen by the flattening slope of the 20-week EMA. The RSI, though in positive territory, has been gradually falling towards the center. This shows hesitation among buyers at higher levels.If bears break below $24.1709, the pair will enter a downtrend and might correct to $18.30. However, if the support at $24.1709 holds, a range-bound action might ensue. The uptrend will resume if bulls sustain the price above the uptrend line. In such a case, a rally to $39.5931 is probable. Therefore, traders can buy above $32 and keep an initial stop loss of $24.BTC/USD Bitcoins (BTC) dominance reached 69.92% on Aug. 10, which shows that traders are preferring the leading cryptocurrency over altcoins. Former Wall Street trader Max Keiser believes that Bitcoins dominance will reach as altcoins fall to the wayside. During the recent escalation of trade war between the U.S. and China, Bitcoin has emerged as a asset along with gold. Billionaire investor Mark Cuban said that he both gold and Bitcoin as being the same thing.The cryptocurrency might gain a further foothold in the event of a Brexit. Serial VC investor Tim Draper has said that the current consolidation might delay the rally in Bitcoin, but he expects his target of to be hit by 2023. Will Bitcoin enter a consolidation or break out of the recent highs? Lets analyze the charts.The failure of bulls to sustain above the downtrend line is a negative sign. It shows a lack of demand at higher levels. However, the trend remains up and every dip should be viewed as a buying opportunity until the price remains above the 20-week EMA.If the price rises and sustains above the downtrend line within the next couple of weeks, we anticipate a rally to the recent highs of $13,973.50. A breakout of this resistance will trigger FOMO and a quick move to $17,208.84 will be in the cards.Contrary to our assumption, if the BTC/USD pair reverses direction from current levels and plummets below the 20-week EMA, it will signal profit booking by bulls and selling by bears. It will also indicate a change in trend. The next level to watch below the 20-week EMA is $7,451.63.XMR/USD The malware Smominru, which was previously used to mine Monero () on over half a million infected computers, has now been to steal system access information for possible sale on the dark web, according to a report by cybersecurity company Carbon Black. Though it has held up quite well in the past seven days, can the digital currency build on its gains or will it falter? Lets look at the chart.The XMR/USD pair rallied above the 20-week EMA, but could not reach our first target of $107. It is facing selling at $98.2939. If the price bounces off the 20-week EMA, we anticipate bulls to again attempt to propel the price above $98.2939. Above this level, the next level to watch is $107 and above it $120.Conversely, if the price dips below the 20-week EMA, but stays above $81.4151, it will remain range-bound for a few weeks. Flat moving averages and the RSI just above 50 also points to consolidation.The trend will turn negative on a breakdown of the critical support of $81.4151. Below this level, a drop to $60 and lower is possible. However, we give this a low probability of occurring.LEO/USD UNUS SED LEO (LEO) turned out to be the fourth-best performer of the past seven days. Bitfinex and Tethers legal against the New York State Office of the Attorney General (OAG) has been extended as Justice Joel M. Cohen of the New York Supreme Court has given more time to the OAG to investigate the case.We will analyze the daily chart of the LEO/USD pair because of its short trading history. The pair has been stuck inside a range of $1.20 to $1.40 since Jul. 17. Currently, the price has bounced off the support at $1.20 and is attempting to rise above the 20-day EMA. If successful, it can move up to $1.40. The 50-day SMA is just above this level. Once bulls scale above the 50-day SMA, a rally to $1.80 and above it to $2 is possible.Conversely, if the price fails to scale above $1.40, the range bound action between $1.20 and $1.40 will continue for a few more days. However, if the pair reverses direction from the current level and plunges below $1.20, it can correct to the lows at $1.0384. We suggest that traders wait for the price to break out and sustain above the 50-day SMA before turning positive.DASH/USD Dash () rounds up the top five performers of the past seven days. Major crypto platform Coinbase announced that it is considering for eight new digital assets, including DASH. While this fundamental news is positive, how does its chart stack up? Lets take a look.Though the DASH/USD pair has stayed above the immediate support of $95.4264 for the past three weeks, bulls have not been able to achieve a strong bounce off it. This shows a lack of urgency among buyers to load up on the cryptocurrency at current levels. The price has been trading below both moving averages for the past four weeks and the RSI is in the negative zone, which is a bearish sign.Unless the price quickly rises above the moving averages, we expect bears to attempt a breakdown of $95.4264. The next support on the downside is at $86.3249, which is the 78.6% Fibonacci retracement of the rally from the lows. If this support breaks, a retest of the yearly lows will be in the cards.Conversely, if the bulls succeed in propelling the pair above both moving averages, we expect a rally to $160 and above it to $188.5598. We suggest traders wait for the price to rise above both moving averages before initiating long positions.Market data is provided by the HitBTC exchange.Publication date:08/11/2019 - 21:37Author:Rakesh Upadhyay