Crypto Brief Dec.05: Bitcoin golden cross indicates an uptrend plus Ethereum, DigiByte, Bitfinex, Fantom, Enjin, OKEx, Dash, Tron, Circle, Canaan, Airswap news

By Emma 12/5/19 11:10 AM

From the potential uptrend of Bitcoin to Poloniex will delist DigiByte. These are some of the prominent news in the crypto space.

Bitcoin News

Bitcoin price has dropped since the end of October. A bullish cross between the long-term moving averages (MA) suggests that it could start a new uptrend. However, the similarities with previous occurrences are somewhat vague.

Popular trader Dave the wave claims that the aforementioned golden cross is offering a medium-term growth outlook.

I think this is quite significant. It shows the 1 year average rising crossing the 2 year moving average, which gives you a bullish looking turnaround in the medium term time frame… https://t.co/6e0iaGZ8eX

— dave the wave (@davthewave) December 4, 2019

The golden cross is currently taking place 721 days after the high and 357 days after the low. Comparing it to the 2016 movement, this is happening at a faster pace.
However, the ratio between low and high remains similar.

Bitcoin price is currently trading right at the 50 and 100-week MAs and has been in a downtrend since June. It is in the process of falling below both MAs.

The downtrend is reflected in the MACD indicator, which created a bearish cross and is now below the 0 line. This is the biggest difference between the 2016 movement and the present.

This idea is also reflected in another trader tweet, suggesting that the price of Bitcoin will consolidate near the support line next year. This idea will be invalidated by a breakdown below the support line.

BTC longer term.

Predicting price next year in the buy zone, which sets up nicely for the next parabolic run going forward. Accumulation mode. pic.twitter.com/feO1Lk7kh1

— dave the wave (@davthewave) December 4, 2019

Bitcoin breaks transaction volume record

Bitcoin recorded the highest hourly USD transaction volume in its entire history on December 4. As the chart below shows, more than 8.9 billion BTC has been transferred on-chain.

$8.9 billion in #Bitcoin were moved on–chain in a single hour this afternoon.

It’s the highest hourly USD transaction volume in Bitcoin’s history ? pic.twitter.com/pWdXBszuIc

— Rafael Schultze-Kraft (@n3ocortex) December 4, 2019

Many people may think that this is a sign that mass adoption is needed, but there is a more normal reason behind this hike. Seemingly simply because cryptocurrency exchanges swap their huge wallets as a security measure. But there are also those who think this is the initial sign of an exchange hack, specifically Bittrex, as AZ Coin News reported.

Ethereum News

Ethereum price has recently broken below a significant support area. Whether it regains support or confirms it is a resistance will have a major impact on future price movements of ETH.

Technical analyst CryptoDude thinks that the Ethereum chart has just completely broken down below a support area before confirming it is resistance. This suggests that the ETH price will fall further.

I’ve always found $ETH ‘s price action cleaner than bitcoin’s. pic.twitter.com/mfORSlfUy8

— CryptoDude (@cryptodude999) December 2, 2019

A similar viewpoint was made by another technical analyst, Rekt Capital, who outlined the importance of the $ 160 support area.

$ETHUSD – $ETH #ethereum

All the signs were there

And even though the resistance flip wasn’t picture-perfect, the sentiment remains the same:

ETHUSD has flipped the bottom of its Weekly $160-$360 into a new resistance and has recently rejected price#Crypto $BTC pic.twitter.com/jRDtSUBMrc

— Rekt Capital (@rektcapital) December 3, 2019

DigiByte News

Poloniex, a US-based digital asset exchange, will delist DigiByte soon, a payment-focused cryptocurrency.

After a careful review, we decided #DigiByte is not qualified per our listing standard. We will delist $DGB soon. Details to be announced.

— Poloniex Exchange (@Poloniex) December 5, 2019

The crypto community and industry insiders seem to think the delisting is the result of a string of criticisms raised by DigiByte founder Jared Tate, targeting TRON founder and CEO Justin Sun.

Tired of the bullshit in this industry. I haven’t dedicated the last 8 years of my life to sit idly by and watch #blockchain tech be hijacked by a bunch of crooks like @justinsuntron and @cz_binance. Time has come.

— Jared Tate (@jaredctate) December 3, 2019

As for Binance, Tate made some strong statements, saying that Binance requires $ 300,000 and 3% of DigiByte’s total token supply to be listed. Zhao responded to this accusation:

“…interesting (in an fk’ ed up way). I think he specifically does NOT want DGB listed on Binance. not gonna waste any time on these types of guys. There are more interesting things to do in life. Moving on…”

lol, interesting (in a fk’ed up way). I think he specifically does NOT want DGB listed on Binance.

not gonna waste any time on these types of guys. There are more interesting things to do in life. Moving on…

— CZ Binance (@cz_binance) September 21, 2019

Tate responded to Poloniex’s delist act that “by not qualified you mean DigiByte is truly decentralized, was never an ICO and isn’t 100% pre-mined? Duly noted. Poloniex is the new scammers’ paradise. The less $ DGB in the possession of the TRON con job the better”.

By not qualified you mean #DigiByte is truly decentralized, was never an ICO and isnt 100% premined? Duly noted. #Poloniex is the new scammers paradise. The less $DGB in the possesion of the #TRON con job the better. https://t.co/unhsiZjzn5

— Jared Tate (@jaredctate) December 5, 2019

Bitfinex and Bitrefill News

Advanced digital asset trading platform Bitfinex has partnered with Bitrefill, a provider of digital gift cards and mobile top-ups using Bitcoin technology, let customers shop with Bitcoin and Bitrefill’s list of 2000+ prepaid product offerings, per a Bitrefill’s blog post on December 04.

Starting today, Bitfinex customers can shop for a variety of services, including gaming, dining, entertainment and travel gift cards.

Starting now, @Bitfinex users can live on crypto with 2000+ gift cards and refills, powered by Bitrefill!

⚡️ Announcement here: https://t.co/PzLn8589pk pic.twitter.com/CwnVOQiPrK

— Bitrefill (@bitrefill) December 4, 2019

Fantom News

The Fantom Foundation recently announced that its technology would be used in healthcare. This is also the first initiative of the Afghan government to apply blockchain technology.

BREAKING NEWS

The Afghan Ministry of Health recently announced that Fantom technology will be used in its health sector. This is the first time that an initiative is started to adopt blockchain technology in the country by its government. https://t.co/JYLVCTGxeC $FTM

— Fantom Foundation (@FantomFDN) November 28, 2019

Enjin News

Microsoft and blockchain game company Enjin has revealed a tokenized reward for Ethereum-based programming novel, Heroes Azure, and are testing the program in “some Western European countries.”

Are you an @Azure practitioner who loves to learn and who contributes to a strong #developer community? We want to recognize you with cool blockchain-based badges! Nominate yourself or other #AzureHeroes: https://t.co/JQXMexMCOS #Azure #Cloud #Developers https://t.co/Ex5xGXGAYe

— Microsoft Developer (@msdev_ch) December 4, 2019

Enjin Coin (ENJ) soared right after Microsoft’s announcement, with a market cap of 42% to $ 67 million. The protests made ENJ the best performing coin of the day, up more than 30% at the time of writing.

Source: Trading View

Tron News

According to Tron CEO Justin Sun, Samsung’s new blockchain phones that support TRX, BTT, USDT-Tron, and BeatzCoin will be available in the Scandinavia region of Europe, as well as in Portugal and Australia.

The regions @SamsungMobile has keystore powered by #TRON available:

– Korea
– US
– Canada
– UK
– Germany
– Switzerland
– Spain

By end of year, Samsung will have

– Austria
– Portugal
– Sweden
– Finland
– Denmark
– Norway$TRX #TRX

— Justin Sun (@justinsuntron) December 5, 2019

Samsung’s smartphones with embedded Tron API are available in the United States, Switzerland, the United Kingdom, Canada, and Germany. Tron is taking one more step to create a global decentralized network – with the help of Samsung.

Circle News

After the recent disappointing performance of USDC stablecoins, Sean Neville, Circle’s co-chief executive, announced he would resign from the end of this month in an email of a quarterly meeting.

Even so, he will remain on the board as an independent director.

While not giving a clear reason, Neville said in an email that Poloniex’s recent breakaway was one of many factors that created “the right time for me to transition.”

Canaan News

Dovey Wan, founding partner Primitive Crypto, tweeted about the Canaan IPO in Hangzhou with the participation of nearly the entire Chinese crypto community. At the event, Canaan presented a prize for “10 most influential super hasher of 2019”.

At Hangzhou for Canaan’s post-IPO gala, with almost entire core Chinese crypto community attending

During the event, they gave an award for the “10 most influential super hasher of 2019”. Conservatively over 60% of the Bitcoin hashrate is now on stage ??? pic.twitter.com/qmDcw4g9X0

— Dovey 以德服人 Wan ? ? (@DoveyWan) December 3, 2019

Dash News

Decentralized payment marketing director Dash Michael Seitz announced that Dash Explorer will be updated to Insight on January 7, 2020, in a blog post on December 4.

Dash Explorer to be Updated to Insight on January 7th at 2pm GMT#crypto #crytpocurrency #payments #Dash https://t.co/kLqyoefKwt pic.twitter.com/M784wHpbd8

— DASH (@Dashpay) December 4, 2019

Seitz explained that Dash has made an internal decision to update the current explorer.dash.org, based on the Abe application programming interface (API). The old API is thought to be outdated and has limited functionality compared to the new and improved API, Insight

AirSwap News

AirSwap, an Ethereum decentralized exchange protocol, claims that it is running a bug bounty program with rewards up to 20,000 DAI (worth $ 20,000). It began and indefinitely.

The AirSwap team stated that the value of the bug bounty reward will depend on the severity of the error found, according to OWASP’s risk assessment method and the AirSwap team’s evaluation.

AirSwap bug bonus rewards up to 250 DAI for low-level fixes and up to 2,000 DAI for high-level fixes.

OKEx News

Malta-based OKEx has launched XRP and Ethereum Classic futures contracts. Both XRP and ETC futures are paid with Tether and users can trade weekly, biweekly and quarterly contracts.

#OKExUSDTFutures: $XRP & $ETC USDT Futures is NOW LIVE on OKEx!

? Trade now: https://t.co/GyHQiW4vDl
? Learn more: https://t.co/79Lc19985i pic.twitter.com/3AKJqCXbFq

— OKEx (@OKEx) December 4, 2019

Besides that, OKEx will be launching TRX/USDT & BSV/USDT Futures on Dec 5 at 07:00 UTC.

#OKExUSDTFutures: We’ll be launching $TRX/USDT & $BSV/USDT Futures on Dec 5 07:00 UTC.

Learn more: https://t.co/GOEO2yXTS2 pic.twitter.com/QYpWt0QpV6

— OKEx (@OKEx) December 4, 2019

Other News

Bitcoin shopping app Lolli has silently added big brands like Walmart and Ulta

Lolli has contracted with some of the larger retailers such as Walmart, Macy’s, Ulta, Bloomingdale’s, Hilton, Sephora, Petco, Priceline, Expedia, Groupon, and Saks Fifth Avenue. All more than 900 Lolli retail partners agree to pay Lolli a flat fee or cut each sale to them through Lolli.

However, none of these companies publicly announced support for Bitcoin.

Saga launches a new global currency

Emerging cryptocurrency company Saga wants to issue a new global currency on the blockchain. But don’t call it stablecoins.

Saga’s SGA digital currency is based on an international reserve asset called Special Drawing Rights (SDR), introduced by the International Monetary Fund in 1969. This is a common basket of the world’s major currencies – the US dollar, the euro, the pound, the Japanese yen, and the Chinese yuan. It is used by central banks around the world to guard against fluctuations in their own local currency. SGA borrowed this model for a financial instrument and put it on the blockchain.

Today, an SDR is worth about $ 1.40 USD and the SGA will be of similar value when it launches. But the value of SGA may increase or decrease depending on the number of others using SGA.

Therefore, SGA is not a stablecoin with a permanently fixed price. But you can totally call it a stable currency.

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