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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

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

As one of the longest-standing exchanges in the crypto industry, Bitfinex is guided by the innovation for progress value that motivates us to work relentlessly to build industry-first products and tools to bring the blockchain promise of freedom and scalability to fruition.  At the same time, we know that driving adoption is equally crucial, which we believe is best achieved through an independent fiat gateway that will increase the speed and ease by which fiat currencies can be exchanged for cryptocurrency in a legally compliant manner. With that in mind, Bitfinex developed the UNUS SED LEO token and released the whitepaper on 10th May 2019. Inspired by an Aesop’s fable, The Sow and the Lioness, we named the token UNUS SED LEO.  The words came when the sow asked the lioness about the number of cubs she produced at a birth, in an effort to shame her. The lioness’ answer was, “I have only one; but that one is altogether a thoroughbred Lion,” suggesting that quality wins over quantity.  The UNUS SED LEO token was first offered in a private Initial Exchange Offering (IEO), following the release of the whitepaper. The offer received an overwhelming response from the crypto community as it successfully raised nearly 1 billion USDt in just under a week, which marked a new milestone to Bitfinex as well as the wider crypto community at the time.  As a token designed to empower the Bitfinex community and provide utility for anyone seeking to maximize the output and capabilities of the Bitfinex trading platform, the UNUS SED LEO token comes with heaps of benefits to its holders.  And as the name suggests, it only takes 1 UNUS SED LEO (or equivalent to 1 USDt worth of $LEO) to enjoy all the benefits it has to offer. However, you need to be a verified user to be able to enjoy them.  Here are some of the benefits that UNUS SED LEO holders are entitled to: The amount of discount varies according to the holder’s user status level, which depends on the amount of LEO tokens held over a period of time, as follow: Level 1 users are entitled to 15% taker fee discounts. Level 2 users will get an additional 10% reduction, bringing the total taker fee discount to 25%. In addition to the above cumulative fee reductions, level 3 users will receive discounts of up to 6 basis points (BPS) when trading crypto-to-crypto, crypto-to-stablecoin and crypto-to-fiat and up to 2 BPS for crypto derivatives trades.  UNUS SED LEO token holders get up to 5% discount on peer-to-peer (P2P) lending fees.  As an affiliate, if one of your members hold an average of 500 USDt LEO equivalent, you’re eligible for additional multipliers, as follow:500+ USDt LEO equivalent – a 1.1x multiplier.  – 500+ USDt LEO equivalent – a 1.1x multiplier.– 5,000+ USDt LEO equivalent – a 1.2x multiplier.  – 50,000+ USDt LEO equivalent – a 1.5x multiplier. Holders of > 50m UNUS SED LEO tokens will receive up to a 25% crypto withdrawal and deposit fee discount.  For more details on the UNUS SED LEO token holders benefits, you can go to our support page. Aside from all the benefits mentioned above, UNUS SED LEO holders can expect far more from across the entire portfolio and future projects, products, and services, as detailed in the whitepaper. In celebration of the first burn anniversary of the UNUS SED LEO token, we’re running the ‘WIN and trade like a LION’ competition that runs from 12th to 16th June 2020. Head to the competition page to find out further details and enter.   On top of the benefits the token has to offer, UNUS SED LEO has also become the company’s motto. An ethos that we hold and extends into the very fabric of our company. We do value quality over quantity.  Happy 1st anniversary UNUS SED LEO! You are One, but a Lion 🦁

Over the course of the past week, Bitcoin has registered a slight price slump. Of late, the bulls in the coin’s market have been on the decline and given its $53k valuation at press time, a question on most traders’ minds is whether or not BTC is going to reclaim levels close to $62k in the next few weeks.

While Bitcoin’s credentials as a long-term asset remain unquestioned, what about its short-term performance, and will the market see a further decline in price before a bounceback?

Market data provided by Santiment highlighted how the arguments for a bullish divergence are fast disappearing given the press time valuation of the world’s largest cryptocurrency. The low ratio of token circulation that was noted after Bitcoin dropped below $52k painted a bearish outlook for the coin in the near-term.

According to the data provided, this ratio of token circulation was last seen in September 2020, a period during which the cryptocurrency’s price endured a prolonged spell of sideways movement.

While this has been the case, investors seem to be increasingly confident of a near-term bounceback. In fact, data suggested that price expectations for Bitcoin in April are high, with many investors confident that an $80k valuation can be realized by then.

There are a high number of calls expiring on 31 April that deem the price to hit the $80k mark, giving Bitcoin a little over a month’s time not just to bounce back, but also to establish a new ATH by quite the margin.

While one can’t for certain predict how the market will respond in the coming weeks, there are signs that a comeback for BTC cannot be discounted. The address activity for BTC continues to rise on a long-term trajectory, despite the bearishness in the price and the overall uncertainty dictating market sentiment at the moment.

In fact, Santiment highlighted that Bitcoin’s latest 24-hour active address output of 1.24M just matched a one-month high and one can argue that such market fundamentals may lend a hand when it comes to a swift price recovery on the charts.

Taking a look at the coin’s volatility level in the past 6 months also suggested that a good amount of price movement can be expected from Bitcoin. In the coming weeks, a period of sideways movement can seriously arrest the coin’s upward aspirations.

Further, according to data from BitPremier, BTC’s 30-day volatility was around 4 percent, and while that is low in comparison to BTC’s past month volatility, one can argue that there isn’t enough momentum in the market, coupled with volatility, to trigger a trend reversal.

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Jude Gerald Lopez is a full time News Editor at AMBCrypto covering the US and Indian market. He is a post-graduate in English literature with around 4 years of teaching experience in Indian literature.

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Bitcoin has been able to successfully set new ATHs lately, with its price corrections generally followed by strong bouncebacks. The last 7 days saw something similar, with BTC falling below $55k before recovering most of its losses to trade around $58k, at press time, not too far away from its current ATH.

While Bitcoin’s recent price exploits have been quite significant, it is also important to see how a key demographic within the BTC ecosystem has reacted to this price surge.

Miners back the coin and cover up the weakest links. Such is the case with Bitcoin as well. While investor confidence and a surging price is a key aspect of the coin, poor network security can undo all the hard work of the past decade. This makes Bitcoin’s miner community an extremely significant part of the coin’s long-term prospects.

Interestingly, many small/mid-sized mining operations were put at risk last year after the coin underwent its 3rd block reward halving. However, the narrative seems to have changed drastically since. With the price surging, miners have also found respite. A day ago, it was reported that miners were seeing record-breaking revenues from both block rewards and transaction fees. In fact, per-day revenue for Bitcoin miners hit a whopping $63 million on 15 March.

Further, a recent report by Glassnode highlighted two interesting developments with respect to Bitcoin’s miners. The first was the surging revenue miners are now receiving and the second was the increase in transaction fees.

While 2020’s halving posed questions regarding the sustainability of small and medium-sized mining operations, 2021’s price seems to have come as a relief. However, BTC has also been seeing a spike in transaction fees and network data suggests that global transaction fees related to exchanges account for around 30% of on-chain transaction fees.

While miners are no longer on the edge on the question of sustainability, it is also interesting to look at what miners are doing with their revenue and whether or not they are hodling their Bitcoins. Strong hodling sentiments among the coin’s miners have always been a key way of understanding whether the coin is enduring a sell-off and how the price will react in the near term.

Glassnode’s data suggested that miners to exchange flow (7d MA) reached a 1-month low of 10.684 BTC. This implied that one, miners aren’t selling their earnings and two, that they have substantial revenue, making their operations profitable and adding to the overall security of the network.

With Bitcoin continuing to trade around the $60k-price range, miners backing the coin may be the deciding factor that spurs the coin towards more price discovery past its latest ATH. In addition to this, BTC has seen a substantial surge in investment from traditional and institutional investors over the past few months, and strong miner confidence implies that its weakest links with regard to the resilience of the network are covered and secure.

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Jude Gerald Lopez is a full time News Editor at AMBCrypto covering the US and Indian market. He is a post-graduate in English literature with around 4 years of teaching experience in Indian literature.

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price dropped to $6,700 range after rallying above $7,000 for some time. This led to a drop in Bitcoin’s dominance which currently stood at 64.1% whereas the collective market cap slid to $191 billion. Source: Closely following its footprint were altcoins such as XRP, Tezos [XTZ] and LEO which also sustained severe losses after the rapid reverse in the downward direction. XRP: Source: on TradingView BTC-XRP correlation coefficient hit a year high of 0.80 on the 12th of April. The rising correlation has led price to follow the suit of the king coin which prevented the third-largest cryptocurrency to breach the key level of $0.2. At press time, XRP was priced at $0.183 after a drop of 2.35%. It held a market cap of $8.09 billion and a 24-hour trading volume of $2.29 billion. Resistance: $0.24, $.29 Support: $0.141 MACD: MACD indicator suggested a bullish trend for the coin with the signal line hovering below. Chaikin Money Flow: CMF was also in the bullish zone depicting inflow of capital in the XRP market. Tezos [XTZ]: Source: on TradingView BTC-XTZ correlation has also been on the rise, currently standing at 0.54, which impacted the price action of Tezos. was priced at $1.92 after a minor decline of 0.14% over the past 24 hours. At press time, it registered a market cap of $1.35 billion and a 24-hour trading volume of $174.7 million. Resistance: $2.57, $3.18 Support: $1.23, $0.766 Parabolic SAR: The dotted markers below the price candles evidenced a bullish presence in Tezos’s price movement in the near-term. Awesome Oscillator: The red closing bar, however, projected mild bearish hints. LEO: Source: on TradingView At press time, LEO held a market cap of $1.018 billion and a 24-hour trading volume of $9.34 million. A drop of 0.01% drove the coin’s value to $1.02. Resistance: $1.11 Support: $0.81 Klinger Oscillator: The signal line was above the KO line, which was indicative of a bearish phase for the coin. Sponsored RSI: RSI despite being above 50-median appeared to be heading below. This indicated a shift in sentiment of an increasing sell pressure among the investors in the market. Related Topics: Chayanika is a full-time cryptocurrency journalist at AMBCrypto. A graduate in Political Science and Journalism, her writing is centered around regulation and policy-making regarding the cryptocurrency sector.

The altcoins namely UNUS SED LEO, Moneo, and Zcash are in their respective bull markets. The cryptocurrencies are in an upward move but are battling minor resistance levels which have compelled the coin to trades in a sideways trend. The uptrend will resume as soon as those minor resistance levels are breached. The other coins, Crypto.com and Stella, are in a sideways trend battling to break the overhead resistance.

UNUS SED LEO was earlier in a bear market. The bear market was terminated on December 31 at the low of $0.8086. There was a change in trend as the coin rebounded in the first week of January to a high of $0.900. The market continues to trade below $0.900 resistance for over a month as bulls failed to push the price above it.

On February 2, the coin rebounded to break $0.900 resistance as price rally to $1.039. At the current price, LEO reached the overbought region, and sellers emerge to push the price to the support line. The crypto is rising and the price is making a series of higher highs and higher lows. The uptrend is likely to continue as long as the price is within the channel. On the downside, a break below the support line will terminate the uptrend. LEO is currently above 80% range of the daily stochastic. The market is said to be in the overbought region. In any trending market, the overbought condition may not hold.

Crypto.com coin is in a sideways trend. The market was earlier in a bearish trend as it fell to a low of $0.030. The $0.030 support is holding as the bulls resumed an upward move. The uptrend is currently facing resistance at $0.070. Buyers have failed to break the overhead resistance. In its first attempt to break the resistance in February, the price was resisted and the market drops to $0.030 support. Today, the bulls are retesting the overhead resistance. The crypto has since been repelled and a downward move is expected. The Crypto.com coin is presently at level 61 of the Relative Strength Index period 14. It indicates that the coin is in the uptrend.

Monero is rising and in an ascending channel. The current uptrend is being interrupted at the resistance at $66. Since April 30, the current resistance has hindered the upward move. The bulls were first resisted in April as the market dropped to $58 low. In May, the market tested the $66 resistance and was repelled. Monero has been compelled to a sideways move below the $66 resistance zone.

On the upside, if price rebounds below the resistance, the market will break through the resistance levels of $66 and $68 and rally above $70. Possibly the momentum is likely to extend to $80. Meanwhile, Monero is above 60% range of the daily stochastic. It indicates that the market is in a bullish momentum and approaching the overbought region.

Presently, XLM is in an upward move but in a sideways trend. Stella is testing the resistance at $0.074 to break above it. Since April 30, the resistance has remained unbroken. The bulls have been repelled at the resistance as the market fell to the low of $0.062.

Prior to this current resistance at $0.074, Stella has been retesting the overhead resistance at $0.090. This overhead resistance has not been broken since last year. On the upside, if the bulls break the resistance at $0.074, the market will rise to retest the overhead resistance at $0.090. XLM is at level 55 of the Relative Strength Index. The crypto is in the uptrend zone and may likely rise.

Zcash is in a bull market. In its upward move, it is currently facing resistance at $48. In April, the bulls tested the resistance twice and were resisted. The current resistance in May has caused the crypto to fall to $38 low. The market is in a sideways trend below resistance as buyers initiate a fresh upward move.

On the upside, if the bulls break above the resistance, Zcash will rally above $55. The sideways move below the resistance will continue if the bulls fail to push the price above the resistance. Meanwhile, ZEC is above 40% range of the daily stochastic. This also indicates that the market is in a bullish momentum.

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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:

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

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:

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