Crypto Brief Dec.04: Bitcoin price maybe slump into the $ 6000 area plus Ethereum, Litecoin, Ripple, EOS, TRON, ZCash, NEO, Circle, Gemini, Chainlink, USDC, Dash news

From the technical patterns of Bitcoin shows significant losses to a series of large transfers of BTC, ETH, XRP, USDC. These are some of the prominent news in the crypto space.

Crypto Brief Dec.4

Bitcoin News

After a major upheaval during the end of October and most of November, Bitcoin appears to have entered a consolidation phase when bulls and bears push BTC between the upper and lower boundaries of a tight trading range.

However, this period of sideways trading may soon end, because an analyst is currently noting that Bitcoin is currently showing many signs of the price drop that could cause trouble for its short-term price action.

In the short term, it seems Bitcoin has established the $ 7,400 area as a relative resistance, while the area between $ 7,200 is a support level.

Hsaka, a popular analyst on Twitter, said most of the technical patterns of Bitcoin show the possibility of imminent significant losses.

Assuming that the bulls fail to achieve any noticeable momentum and break out of this range, the cryptocurrency could soon return to the recent lows of $ 6,000.

All remaining hope is the BTC halving event, scheduled for May 2020. This event signals a number of bullish factors including the decrease in the number of coins added to the total supply, increasing scarcity.

When the block reward dropped from 12.5 to 6.25 BTC, the asset’s inflation rate also fell below the central bank’s 2% target. Bitcoin inflation will be 1.8% and with 18 million mined (equivalent to 86% of total supply), the scarcity concept will boost demand.

The previous halving event in 2012 and 2016 saw Bitcoin price increase after this event, not before. As PlanB analyst points out, it didn’t take a year for the market to start growing strongly.

New predictions on the direction of the Bitcoin price

DeMark Analytics CEO and TD Sequential creator, Tom DeMark, has revealed the latest forecast of Bitcoin price.

DeMark told Bloomberg that he believes Bitcoin still has another way before it reaches the bottom.

The TD Sequential indicator signaled a sharp decline in December 2017, just before the market collapsed. In June of this year, it also flashed a sell signal when BTC nearly hit the $ 14,000 level.

Whale Bitcoin transfers $313M out of Bittrex

Money transfers in hundreds of millions of dollars are becoming increasingly popular on the Bitcoin network. Today, Whale Alert reported that another whale has transferred about 43,564 BTC ($ 313M) from cryptocurrency exchange Bittrex. The total transaction fee is only 1 dollar.

An hour later, a Bitcoin whale transferred 57,577 BTC, worth about $ 414.9M, from an unknown wallet to an unknown wallet. The fee for the transfer is only $ 5.

Ethereum News

Whale Alert has reported that hackers continue to transfer large amounts of ETH stolen from the recent Upbit hack to unknown wallets. Accordingly, 22,000 ETH (~ $ 3.2M) were transferred today.

Crypto Brief Dec.4 ETH

Source: Whale Alert/Twitter

Ripple News

Whale Alert today reported that 25 million XRP (~ $ 5.3M) were transferred from Binance to Coinbase.

Every month, Ripple, which owns 55% of the total XRP supply, unlocks 1 billion XRP. Many people believe that this momentum is preventing the momentum of XRP prices. On Dec.01, one billion XRP has unlocked again and the community went crazy, accusing Ripple and co-founder Jed McCaleb (currently the founder of Stellar Lumens), who regularly receive payments. Giant XRP from Ripple.

Commenting on the 25 million XRP being transferred from Binance to Coinbase, a Twitter user said the sender might be using Coinbase for his depository services.
However, most users believe that the price of XRP will be forced to plummet.

XRP’s volume on Coins.ph reaches ATH

An XRP influencer said his track record of liquidity tool between Filipino pesos and XRP on cryptocurrency exchange Coins.ph has skyrocketed.

Crypto enthusiasts regularly monitor the volume of transactions on exchanges to determine the real-life adoption and use of XRP.

The University of Tokyo joins Ripple’s UBRI

Ripple’s Blockchain Research Initiative for Universities (UBRI) is helping educational institutions and their students to innovate and develop technology, conduct research, and fund as needed. Currently, there is information that the University of Tokyo has joined UBRI.

The cryptocurrency giant has 30 universities acting as partners of the company, including academic institutions in the US, Europe, Singapore, Japan, etc. Ripple has now added the University of Tokyo to its partner list. Moreover, the university is currently running the second XRPL validator in Japan.

Litecoin News

Litecoin creator Charlie Lee is supporting early fundraising efforts with the goal of implementing security features for LTC. Lee said 111 LTC and 0.00284 BTC were donated, or about $ 5,133 out of the $ 72,000 that Litecoin Fund is seeking to raise.

Tron News

Poloniex exchange has just announced the listing of all Tron-based assets for free on the decentralized exchange PoloniDEX (formerly TRX Market).

The partnership between Poloniex and Tron was announced after receiving huge investment from an anonymous group in Asia. Tron CEO Justin Sun is among those who have invested some capital in this exchange, which is the cause of unexpected love for Poloniex.

The Tron community has begun offering its favorite TRX-20 tokens.

TRON ranked second in the research on the number of social media tweets

According to Cointrend’s research on the number of tweets on social networks related to electronic advancement, Bitcoin is currently leading with 313 tweets. Meanwhile, Tron appeared at No. 2 with 191 tweets.

XRP came in fourth place with 70 tweets. Even so, the XRP price has not shown any positive momentum so far and has fallen slightly below the $ 0.22 level.

DGB is in third place and ELF is in fifth place.

All data are collected over a 24-hour period.

NEO News

Blockchain game studio – 0xGames has announced an update to the role-playing game (RPG), 0xWarriors, which now has support for Neo blockchain.

To celebrate the launch of this update, 0xGames is offering a 50% discount when new users sign up to make in-app purchases. Discounts for in-store items will be available until Friday 13 December.

Dash News

A prominent individual within the Dash Core Group seems to have disappeared along with some Dash investors’ money with signs of increasingly looking like an exit scam.
Dash’s current senior advisor is known as “Moocowmoo” and is also the owner of a ‘masternode shares’ service.

Dash CMO, Fernando Gutierrez, quickly denied the story. He stated that Dash Core Group has never hired Moocowmoo and he left the project years ago.

However, despite these claims, more and more evidence points to the opposite.

Dash Core Group says it has never hired Moocowmoo, but his last commitment was in April 2019.

Source: Dash.org

Gemini and GSUD News

Gemini, one of the leading cryptocurrency businesses and depository platforms, is exploring the growing interest of European traders in cryptocurrency-based investment. The exchange has appointed Julian Sawyer as CEO for the UK and European branches.

Sawyer will develop a strategy for the European market, including the physical presence of Gemini. He will work in London and report directly to Chairman Cameron Winklevoss Gemini.

Meanwhile, about a quarter of all Gemini Dollars (GUSD) have just been burned at Gemini.

Many people were shocked when Whale Alert reported Gemini burned 1,035,020 GUSD.
This is clearly the first time such a large number of GUSD of any kind has been reported by Whale Alert.

Many have quickly pointed out that GUSD is one of the worst-performing stablecoins since its launch.

Zcash News

Zcash has backed Cwtch, a messaging app with more decentralized features than Telegram or Signal.

The project is still in the early stages of developing a messaging system between about a dozen node and server operators. Now, thanks to a donation from Zcash (about US $ 40,000), the non-profit organization will hire a designer and continue researching the payment aspects of the system.

Circle News

Global crypto finance company Circle is completing the process of “parting” with the Poloniex exchange.

In a statement, the company said it could start charging customers Poloniex in the United States. Accordingly, all Poloniex customers in the United States must withdraw all their assets before the December 16 deadline. Those who do not withdraw funds may lose direct access to the U.S. Poloniex account or the assets in their accounts will be traded and stored as USDC.

Additionally, some users may be charged a monthly service fee and a one-time service fee. The company notes that users will not be charged more than their total account balance.

USDC Treasury has transferred 19M USDC

According to the latest information from Whale Alert, USDC Treasury has transferred 19 million coins to an unknown wallet. It appears to be completed with a transaction fee of 0.0005363955 ETH ($ 0.08).

Chainlink News

Blocklords, the first medieval strategy game designed based on blockchain technology, is partnering with Chainlink to deploy new game-related applications. The goal is to provide users with more secure blockchain games, with more functions.

Utilizing the full potential of the oracle Chainlink network will allow secure data input and output to be transferred to various smart contracts in order to feed Blocklords, to improve performance and user experience, and enable the creation of new decentralized features that were previously not possible.

EOS News

Participants in the EOS community expressed their interest in the new airdrop. The organizers asked EOSian to “mine” their tokens by sending some EOS to the contract. However, each coin accounts for 1KB of RAM of the sender EOS account. Therefore, the project tries to encrypt EOS RAM in the same way as the CPU.

The project is quite attractive. Those interested in airdrops send some fractal of EOS to the project’s “mining address”. This address will then be returned to the participant for some tokens that account for 1 KB of RAM of the sender account.

In the next phase, the EOS account holder sends the token to the project address in multiple iterations. In the process, new tokens will be mined, some of which will be destroyed to restart the process.

Other News

MUFG Bank Japan rejected rumors of launching its own digital currency

MUFG Bank, the largest bank in Japan and the fifth-largest bank in the world, dismissed reports that it plans to launch a digital currency in Japan next year in a statement on December 4.

Previously, various local English media agencies including the Japan Times reported that MUFG is preparing to launch an unnamed digital currency in the first half of 2020.

These reports are not based on any notice given by MUFG Bank. The Bank adds that it is true that we have signed a joint venture agreement to establish a new company but no other decisions have been made on this issue.

Korean startup claims to have solved the blockchain speed problem

South Korea-based Bloom Technology claims that it has created a new technology capable of speeding up transactions on the blockchain, according to a statement on December 3.

According to the report, Bloom Technology CEO Lee Sang-Yoon said the company’s Lotus Chain technology was able to reduce blockchain transaction processing time to 1 millisecond.

The company conducted a public test with 635 participating nodes to reveal the transaction speed of Lotus Chain technology. The results showed that a single blockchain transaction took from 0.13 to 0.23 seconds to complete.

US Wyoming creates new banks for Bitcoin and cryptos

The state of Wyoming is currently setting up the first “speedy bank”, a new type of banking entity that specializes in cryptocurrency transactions.

Officially named Special Purpose Depository Institution (SPDI), the bank will soon be able to provide basic financial services, such as paying salaries in Bitcoin, accessing private keys and other blockchain-based cryptocurrency transactions.

Canada’s venture capital has raised $ 320M to invest in Fintech startups

Portag3 Ventures, venture capital (VC) of Canada, closed its second round of capital mobilization with about 320 million USD to invest in fintech startups globally, according to the announcement on December 3.

This capital will allow VC to invest in the first phase at promising fintech start-ups around the world, special focus on areas like Canada, USA, Europe and some markets in Asia – Pacific.

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