Crypto Brief Nov.29: Bitcoin breakout signals bullish plus Ethereum, Ripple, Cardano, IOTA, Bancor, Binance news

From Bitcoin breakout signals bullish to Bancor planning an airdrop. These are some of the prominent news in the crypto space.

Crypto Brief nov.29

Bitcoin News

Since November 25, the price of Bitcoin has risen slightly more than 13%. After trading in a tight range for a few days, the price started a breakout and moved above the previous trading range.

The breakout is like the bulls’ relief, because of the continuous decline from $ 10,500 at the end of October without any retreat. Not everyone is ready with the new price increase, with many predicting the market will continue to fall further.

While lower time frames offer a bullish outlook, Bitcoin price is likely to recover once it reaches a longer-term resistance level.

Former senior market analyst at eToro Mati Greenspan said that after a breakout yesterday, the current Bitcoin seems to be ‘extremely bullish’. It is trading inside a bullish flag and in the process of retesting the neckline.

Bitcoin price has been trading inside the inverse head and shoulders pattern since September 22. Things have changed since yesterday, the price broke out to reach the small resistance zone of $ 7700 before retreating. The next resistance level is found at $ 8100.

The same resistance level was given by The Wolf Of All Streets, a popular analyst on Twitter. Resistance is found by the significant Fib levels, reinforcing the difficulty for price action moving above all these levels.

Bitcoin is unlikely to face major price fluctuations

A quick look at BTC performance during and after Thanksgiving doesn’t really bring much positivity – especially if you’re high expectations. Analyst BitDealer has posted a chart showing the performance of assets over the past 10 years. As you can see below, there is no definitive pattern for it.

According to CNBC’s Melissa Lee, it’s okay to discuss Bitcoin at the Thanksgiving table this year because American families often have a tradition of avoiding topics such as politics, immigration, and baseball.

Thanksgiving 2017, many Bitcoiners spoke with their family members to buy Bitcoin during their dinner. However, they were probably severely criticized the following year instead of eating a turkey. The Bitcoin price traded at $ 4,379 on November 22, representing a brutal 77% discount from its all-time high of nearly $ 20,000.

IOTA News

German non-profit IOTA said it was committed to developing the Unified Identity Protocol (UIP) – a digital identity implementation provided by IOTA’s Tangle, in a blog post on November 28, 2019.

IOTA is seeking to revolutionize the digital identity space because the project has asked the community and partners to contribute ideas to help develop ideas and explore related use cases into UIP.

IOTA will release a series of blog posts in the first half of 2020 to shed light on how a unified identity can affect various industries across the globe.

Notably, IOTA has successfully deployed a digital identity solution that powers the Industrial Market. Moreover, they are working to release an introductory test application for Digital Identification in Q1 / Q2.

Ethereum News

Nouriel “Dr. Doom ”Roubini continues to bash crypto and this time he targets Ethereum. He firmly asserted that ETH was more likely to slide to $ 0 instead of rising to $ 1000 as many predicted.

Roubini commented in a recent tweet that while Ethereum has fallen 90% from its peak of $ 1,400 and is a free fall closing in on its 2018 low, it still has a long way to go. 0 dollars, that’s its basic value. He even claimed that ETH could indeed be negative, having brought out all the toxic agents of energy waste and pollution that its mining creates.

Despite Roubini’s negative remarks, the project has undoubtedly recorded some strong fundamental developments in recent weeks and months. In addition, DeFi has continued to show growth this year despite the rebound of the bears.

DeFi is not as volatile as trading directly in assets and will be suitable for those who prefer lower risk with their digital investments. At the time of writing, the total number of ETH locked in DeFi reached a new high of 4.6M, or $ 702 million, according to data from Defipulse.com.

Source: Defipulse.com

Ripple News

Ripple’s XRP has just been mentioned for the first time on the BBC, the global news leader.

In a recent episode of “Working Life,” the program dedicated to discussing the latest business updates, XRP was presented as a viable solution for costly and ineffective transactions. The fruit may take days.

Oestmann, COO at Curve, claims that Ripple can overcome the inefficiencies of the global payment system by offering businesses the opportunity to make transactions in a much faster way.

Weiss Ratings appreciates the potential of Ripple’s  XRP and ODL

In a recent tweet, the Weiss Ratings pointed out that the RDL and XRP ODL solutions are aiming to create a $ 2 trillion liquidity market block to address the current problems of the global money transfer system.

The largest customer using ODL solutions to date is MoneyGram and the Mexican money transfer corridor through the largest US-Latin Bitso exchange. Accordingly, 10% of transactions in Mexico are conducted by MoneyGram through ODL. XRP’s liquidity index has surpassed six million on Bitso.

Meanwhile, the RippleNet system continues to expand. Ripple has recently partnered with other payment services like Finablr and TransferGo. They later plan to provide XRP-based remittances to Africa, Latin America, and Southeast Asia.

XRP / Peso trading volume on Bitso Mexico reached ATH

New data shows that XRP/Mexico peso trading volume on the Mexican-based cryptocurrency exchange Bitso has reached an all-time high this month.

The increase could be due in part to Ripple’s partnership with MoneyGram, which says it is currently transferring about 10% of its Mexican peso forex trading through Ripple’s XRP-based payment solution called ODL.

According to the Bot Liquidity Index on Twitter, the pair reached a high of 6,200,369 on November 23.

Fidelity News

Wall Street Fidelity Investments is ready to reward its employees with cryptocurrencies, according to a Medium post on November 27, 2019.

One of the world’s largest financial institutions, Fidelity Investments, is reported to reward its employees with digital currencies. The corporation is using tokens based on the ERC-1404 token standard to reward its employees.

According to the report, the pilot initiative is being led by the Fidelity’s Center for Applied Technology (FCAT) – the company’s research and development department. FCAT has teamed up with startup TokenSoft to make the cryptocurrency initiative possible.

Interestingly, TokenSoft is also responsible for issuing the BBT digital token requested by Fidelity to help develop the crypto bonus program for employees.

Cardano News

Cardano Foundation, the company behind Cardano’s 12th largest cryptocurrency organization (ADA), has launched AdaPay, an ADA payment gateway for merchants.

The solution, developed by the Cardano Foundation and Coti enterprise-level fintech platform, allows merchants to accept ADA payments processed almost instantly with 35 currencies in their bank accounts, the company announced on November 27.

Payment solutions are currently available to be integrated directly into the seller’s website, using the AdaPay button or QR-based point of sale system, according to the notice.

With the intention of allowing merchants to manage real-time transactions in ADA, Coti’s solution uses Universal Payment Solutions (UPS) to further expand the utility case for the token.

Bancor News

Bancor’s decentralized exchange protocol (DEX) today announced it will conduct airdrops for more than 60,000 BNT hodlers, starting on New Year’s Eve.

Bancor customers holding the original network token, BNT, at the time of the snapshot will be rewarded with 10% of the amount they hold in a newly created token called ETHBNT. The new token will generate additional fees whenever someone makes ether-related conversions on the Bancor platform.

Binance news

Binance recently announced it has partnered with TravelByBit, a cryptocurrency travel startup, to launch a reward card that facilitates crypto payments on major travel websites.

According to the announcement, the card will act like a traditional prepaid card with additional promotions and rewards that users can use with Bitcoin, Binance USD, Binance Coin, and Ontology.

The card will be issued early next year and initially geared to tourists in the Association of Southeast Asian Nations, Australia, and Europe, with plans to gradually expand.

Other News

Robinhood Exchange abandoned its plan to become a bank

Robinhood recently withdrew its application to become a bank. The reason for that is that the receiving office is that the Comptroller of the Currency agency has been declared by the federal district court of New York without the authority to license fintech companies to operate as banks.

A Robinhood spokesman said the withdrawal of Robinhood’s application is completely voluntary and will not affect the company’s product plans. The spokesman also said he would continue to focus on increasing participation in the financial system and challenging the industry to better serve everyone.

KPMG auditing giant launches blockchain-based monitoring platform

One of the four Big Four auditing industry giants, KPMG has announced the launch of blockchain-based monitoring and monitoring platforms in Australia, China, and Japan. Known as KPMG Origins, the tool is designed to increase transparency and traceability of processes in many industries such as agriculture, manufacturing, and financial services.

Combining several emerging technologies such as blockchain and the Internet of Things, KPMG Origin intends to improve the supply chain process. The platform allows trading partners to communicate product data across their supply chain to end users while reducing operational complexity.

Agencies participating in the KPMG Origins trial include SunRice, one of Australia’s largest branded food exporters; Canegrowers, the highest authority for Australian sugarcane growers and Mitchell Wines Vineyard.

IBM is granted a blockchain patent to prevent the crime of stealing goods delivered by drones

The invention, “Prevent Anonymous theft by drones” from IBM, uses an altitude tracker activated by the Internet of Things (IoT). It will track the height of the package and upload data onto the blockchain platform.

The invention of the computer giant has sought to stay ahead of the real-world era 2: every person who buys products online is delivered by drone and everyone owns an individual drone. Combining these two issues will see an unattractive end.

“The union of these two issues leads to the fact that a person can use his or her drone to steal a package delivered by another drone,” according to the patent’s description.

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