Crypto Trend and Momentum Report July 11th: Dogecoin (DOGE), 0x (ZRX), Iost (IOST), Tomochain (TOMO), Cardano (ADA) are the best coins

Crypto Trend and Momentum Report July 11th: Dogecoin (DOGE), 0x (ZRX), Iost (IOST), Tomochain (TOMO), Cardano (ADA) are the best coins

Trend and momentum indicators technical analysis for a selection of cryptocurrencies, with top and worst on a daily timeframe. Featuring TOMO, ADA, DOGE, ZRX, IOST, FET, ATOM, BEAM, LISK, ALGO The RBI needs to take advantage of the momentum the industry is currently witnessing To ban cryptocurrencies will mean that India is missing a critical part of the industry Amidst the global market turmoil, India’s cryptocurrency industry is at a pivotal point The effects of Covid-19 continue to reverberate through every corner of the globe, … Chinese authorities have seized cryptocurrencies worth about $15 million while bringing down a scam involving fake Huobi tokens. In addition, ten people were arrested while … Chinese Authorities Confiscate $15 Million in Cryptocurrencies, Arrest 10 Scammers | News Bitcoin News Read More » Alternative cryptocurrencies, or altcoins, have started to record large gains across the board. Some small-cap coins have seen triple-digit percentage gains in

In this post, we give a picture of the crypto trend and momentum setting for the coins that we usually cover in our Weekly Reports.

First, we provide a recap table for crypto trend and momentum values for all the coins we cover. We divide crypto according to trend and momentum indicators, and evaluate them according to the technical setting for 1-day candles.

The following table depicts the general situation according to crypto trend and momentum indicators. Triangles’ dimension and color vary accordingly to the strength of the indication and its direction. We provide the 5 best and 5 worst coins for the 1-day candles setting, for a total of 10 coins.

In the following sections we provide details about all the trend and momentum indicators for the five best and worst coins, then we plot them.

The tables above show the recap for crypto trend and momentum indicators according to 1 day candles. In the following section, we provide the graphs for each coin.

We found the best crypto trend and momentum setting in Dogecoin (DOGE), 0x (ZRX), Iost (IOST), Tomochain (TOMO), Cardano (ADA). These coins’ graphs are below.

We found the worst crypto trend and momentum setting in Fetch.AI (FET), Beam (BEAM), Lisk (LSK), Algorand (ALGO), Cosmos (ATOM) whose graphs are below.

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DISCLAIMER

The views expressed in this report reflect the analysts’ personal views about the cryptocurrencies subject of the report. These views may change without notice and are subject to market conditions. The report is prepared for information purposes only and by no means constitutes a solicitation to investment or disinvestment. All the data are taken from Binance at 16:00 UTC on the 11th of July 2020. USD and USDT are used interchangeably for illustration purposes. All the presented valuations, indicators, and analyses are subject to errors. The report is for personal use only and should not be republished or redistributed

Source: monethical.com


The Need For Sensible Cryptocurrency Regulations For Growing Economy

The Need For Sensible Cryptocurrency Regulations For Growing Economy

The RBI needs to take advantage of the momentum the industry is currently witnessing

To ban cryptocurrencies will mean that India is missing a critical part of the industry

Amidst the global market turmoil, India’s cryptocurrency industry is at a pivotal point

The Need For Smart And Sensible Cryptocurrency Regulations For Growing Economy

The effects of Covid-19 continue to reverberate through every corner of the globe, but to India in particular, the pandemic has dealt a severe blow to our economy and many of our major industries. In mid-May, our Prime Minister Narendra Modi addressed the nation, emphasising the nation’s need for ‘Atmanirbhar’—relying on oneself so that India may maintain its global competitiveness and emerge victoriously. While every business sector adapts to the new normal, one industry has been exemplary in its self-reliance and has experienced growth in the face of adversity—the cryptocurrency sector.

It’s been two months since the Indian Supreme Court overturned the banking ban issued by the Reserve Bank of India to all entities regulated by the RBI from dealing with or settling cryptocurrencies. Despite the global markets landslide, the Indian cryptocurrency sector has seen unprecedented growth in interest and trading volumes with major global players investing in the Indian crypto and blockchain industry.

The RBI needs to take advantage of the momentum the industry is currently witnessing, to build out a forward-looking legal framework that allows cryptocurrency companies to operate and contribute to the broader economy. In an effort to provide Indian policymakers with some guidance on creating fintech regulation that fosters responsible innovation and protects consumers, San Francisco-based cryptocurrency and software firm Ripple published a policy paper outlining their recommendations for legalising and regulating cryptocurrencies in India.

Despite the current economic crisis, the cryptocurrency markets have thrived, proving the asset class to be a much better hedge against market turmoil compared to traditional commodities such as gold or oil. Since the global market downturn, there has been increased interest and active participation from Indian retail investors in crypto. Industry players within India have recognised the surge and are actively looking to educate the masses and encourage adoption.

For example, CoinDCX has pledged $1.3 Mn to an initiative called #TryCrypto to encourage cryptocurrency mass adoption. Additionally, CoinDCX is also launching a blockchain and crypto educational platform as part of this initiative. Global cryptocurrency exchange, Binance, has also proposed similar initiatives and activities. To encourage the safe use of cryptocurrencies, clearer regulations will help protect retail investors in this nascent asset class that has been helping investors protect their wealth.

To date, cryptocurrencies and the crypto asset class are the most lucrative and attractive products to derive from the blockchain. To ban cryptocurrencies or neglect regulations around the crypto asset class will mean that India is missing a critical part of the industry; we risk losing innovation, tax revenue, and talent to overseas markets. As we continue our focus on ‘atmanirbhar’, it behoves the Indian economy to develop clear regulations in order to protect investors while supporting innovation and increase optimism from foreign investors.

It’s not just Indian investors who have been paying attention, but foreign investors have also had their eye on the Indian cryptocurrency industry. Since the RBI banking ban was lifted, there has been an influx of investors moving into the space, looking to enter the untapped Indian crypto market. In March, CoinDCX announced a successful $3 Mn Series A funding round led by some of the biggest investors in the cryptocurrency space. This was followed shortly by a $2.5 Mn strategic investment from Coinbase Ventures and Polychain Capital in May.

While the influx of foreign investment has been encouraging, we often hear from potential investors who are sceptical to enter the Indian market due to the lack of clear regulations. As we know, clear laws and regulations lead to increased investment. We need to look no further than countries such as Singapore, South Korea, and Japan to see how clear regulations have helped bolster the blockchain industries in these countries. India must take advantage of the current interest and momentum in crypto and blockchain, and push forward crypto laws and regulations to bolster the industry and economy in order to maintain its competitiveness on the world stage.

The Indian government has made great strides in supporting emerging technologies, including blockchain, and we have been reaping the rewards of these efforts. India’s technology-forward initiatives have led to the improvement of global reputation and competitiveness, job prospects and talent retention, and overall quality of life. While the government has been highly supportive of blockchain technology’s development—from financial infrastructure to trade—to great success, the Indian cryptocurrency markets have not earned the same global renown.

Amidst the global market turmoil, India’s cryptocurrency industry is at a pivotal point. More than ever, it is crucial to prioritise pushing forward smart and sensible crypto regulation in the cryptocurrency sector so that we do not disadvantage India’s technology potential. The government and policymakers now have the opportunity to safeguard India’s economy and nurture this extremely promising industry by creating transparent, principles-based regulatory frameworks that can support its growth, bringing its benefits to bear on the nation.

Source: otcpm24.com

Author: News Bureau


Chinese Authorities Confiscate $15 Million in Cryptocurrencies, Arrest 10 Scammers | News Bitcoin News

Chinese Authorities Confiscate $15 Million in Cryptocurrencies, Arrest 10 Scammers | News Bitcoin News

Chinese Authorities Confiscate $15 Million in Cryptocurrencies, Arrest 10 Scammers

Chinese authorities have seized cryptocurrencies worth about $15 million while bringing down a scam involving fake Huobi tokens. In addition, ten people were arrested while luxury cars and real estate were confiscated.

The police in the Chinese city of Wenzhou, Zhejiang province, have cracked a criminal case and seized millions of dollars worth of cryptocurrencies, local media reported Thursday, calling the case the country’s “first criminal case involving smart contracts.”

The authorities began investigating the case after receiving a complaint in April from Li, a Chinese citizen who joined a Telegram group called “Huobi Global HT [huobi token] Arbitrage Chinese Community.” The group provided tutorials on an investment scheme that group members claim to be profitable. Li explained to the police:

Simply put … transfer your ETH (ethereum) to the account designated by the other party, and the other party will return 60 HT (huobi). After exchanging, the HT value added part is the money you make, the profit is around 8%.

The price of HT on July 3 was 28.61 yuan ($4) and the price of ETH was 1,589 yuan ($227), which should translate to a profit of about 8%, according to the report. However, when Li transferred his 10 ETH, worth 12,000 yuan ($1,714), to the account provided by the group owner, the other party returned 600 fake HT coins that could not be traded, Li claimed. That was when he realized that he had been scammed and reported it to the police.

After receiving Li’s complaint, the police launched an investigation into the scheme. They found that the group had more than 13,000 members. However, more than 10,000 accounts were idle “zombie accounts” and the remaining members and staff were actually computer bots. The report further notes, “There are only a few administrator accounts that are actually online, and their task is to publish tutorials to lure victims to be fooled.”

The arrests and confiscation were made after a month of investigation. The police say that this scam has swindled over 100 million yuan from more than 1,300 victims. The report elaborates:

[The police] successfully captured all 10 suspects … confiscated dozens of mobile phones and computers on the scene, seized tens of thousands of virtual currencies such as ETH, BTC, USDT, etc.

The police also seized real estate and luxury cars, such as a Mclaren and a Ferrari, worth more than 13 million yuan. The accused reportedly confessed to the crime after they were arrested.

Cryptocurrency exchange Huobi, whose coin was the subject of the scam, had previously warned about a similar scheme promoted by a Telegram group called “Huobi Global official risk-free arbitrage group.” The company emphasized at the time that the HT coins sent by the scammers were fake and it had never launched a “risk-free arbitrage” campaign.

What do you think about this case? Let us know in the comments section below.

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Source: www.americancryptoassociation.com


New ‘Altseason’ Visualized: Top 10 Cryptos Outperforming Bitcoin

New ‘Altseason’ Visualized: Top 10 Cryptos Outperforming Bitcoin

Alternative cryptocurrencies, or altcoins, have started to record large gains across the board. Some small-cap coins have seen triple-digit percentage gains in recent weeks. But several larger-cap cryptocurrencies have also been posting serious gains such as VeChain (VET), Stellar (XLM), Cardano (ADA) and Chainlink (LINK).

Cryptocurrency market performance in the past 7 days

Cryptocurrency market performance in the past 7 days. Source: Coin360

In the past week, VET, XLM, ADA, ALGO, LINK, BSV, ATOM, XRP, CRO and ETC outperformed the rest of the market including Bitcoin, which gained just 1.13% during the period. 

The chart below illustrates the biggest gainers of the past seven days for cryptocurrencies with a market capitalization of $700 million or more. 

Top 10 crypto assets in the past week

Top 10 crypto assets in the past week. Source: Cointelegraph, Coin360

Since March, both Bitcoin (BTC) and Ether (ETH) recorded gains of over 150%, reportedly fueled by a surge in retail demand as well as institutions. Following the strong recovery of the top two crypto-assets, the momentum of many altcoins began to increase, particularly following the Bitcoin halving in mid-May.

VET ranked as the third-best performing crypto asset of the week. Some speculate that the participation of the VeChain team at a major conference might indicate a product announcement. Others believe the rally derives from the anticipation of a potential Coinbase listing.

On June 11, Coinbase said that it is reviewing VeChain along with 19 other cryptocurrencies. Mentioning VeChain, the exchange said:

“Today we’re announcing that we are exploring the addition of a range of new assets. As part of the exploratory process customers may see public-facing APIs and other signs that we are conducting engineering work to potentially support these assets.”

Stellar and Cardano are set to see major protocol updates, with Cardano’s hard fork scheduled to activate on July 30. The hype around protocol upgrades and new product releases have buoyed the sentiment around top cryptocurrencies in recent weeks.

Other crypto assets, like Chainlink, for instance, have recently surpassed their record highs after a strong month in June. The interest around LINK increased after it entered a price discovery phase. Price discovery is a technical term for when an asset surpasses its all-time high into uncharted territory.

Meanwhile, Dogecoin — fueled by a spike in interest among TikTok users — was the best performing cryptocurrency among coins with a market cap below $700 million. It achieved a two-year high, prompting the @Dogecoin Twitter account to warn users and to “be smart” when it comes to the fear of missing out (FOMO) trend.

Generally, the strengthening sentiment around altcoins seems to derive from two factors. First, ETH has been performing strongly against the U.S. dollar. Historically, ETH rallies coincided with altcoin uptrends. In the last four months, the price of ETH increased from $90 to $241, by nearly 270%.

Second, most top cryptocurrencies have completed the first phase of key network upgrades. Cardano, as an example, is on track to finalize the Shelley upgrade by the end of July. The Shelley upgrade could decentralize the Cardano blockchain network by a factor of 100 times more than competing blockchains, the foundation says.

Cardano.org’s statement reads:

“Come the end of the Shelley era, we expect Cardano to be 50-100 times more decentralized than other large blockchain networks, with the incentives scheme designed to reach equilibrium around 1,000 stake pools.”

The improving sentiment around top 20 cryptocurrencies, initially fueled by imminent blockchain updates, could have kickstarted an altcoin bull run. 

DeFi and staking-related cryptocurrencies have also performed strongly since early July. Cosmos, Kyber Network and Compound, for example, recorded large gains of above 20% against the U.S. dollar.

Source: bitcoinslate.com

Author: admin


Crypto Trend and Momentum Report July 11th: Dogecoin (DOGE), 0x (ZRX), Iost (IOST), Tomochain (TOMO), Cardano (ADA) are the best coins


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