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Swisscom Blockchain received a grant from Web3 Foundation to develop Kubernetes Operator for sentry nodes and validators for Kusama and Polkadot

Zurich – September 10th, 2020: Since it was founded in 2017, Web3 Foundation has firmly believed in an internet where individuals own their own data, not corporations. With this goal in mind, the Zug-based foundation has nurtured cutting-edge applications for decentralized web software protocols using modern cryptographic methods.

To support the research and the foundation’s mission, Swisscom Blockchain AG has received a grant from Web3 Foundation during their fifth wave to develop a Kubernetes Operator for sentry nodes and validators for both Kusama and Polkadot.

This initiative, and the technology behind it, will contribute to both networks’ robustness, making Polkadot and Kusama less prone to attacks on individuals and, in turn, increasing their trustworthiness.

Running nodes on Proof-of-Stake networks can be challenging and a hard task to accomplish. The process becomes even more complicated when the risk of slashing is introduced. Slashing happens when a validator misbehaves: it can occur for instance when the validator goes offline, when the network is attacked or if the software is modified without common approval. The consequences of slashing have a direct impact on validators and nominators as they will lose all their staked tokens. A strong and experienced IT team along with DevOps modern tools are both required to reach high availability and prevent such problems from happening.

Polkadot Kubernetes Operator by Swisscom Blockchain is a set of tools created to seamlessly deploy and monitor validators for high availability. The Operator smooths the process for anyone willing to set up their own sophisticated Polkadot validator including a highly secured network of sentry nodes.

Swisscom Blockchain AG provides solutions allowing companies to interact easily with public Blockchain networks. Polkadot has been identified as a key technology to further enrich the crypto infrastructure services offered to our customers.

Dieter Fishbein, Head of Ecosystem Development at Web3 Foundation, says:

“Providing Kusama and Polkadot with a Kubernetes Operator contributes to a more robust network, helping validators ensure high availability in their operations, and reducing the chances of validators getting slashed for unresponsiveness. We look forward to working with Swisscom Blockchain on their contributions to both the Polkadot and Kusama networks.”

Swisscom Blockchain AG – Müllerstrasse 16, CH-8004 Zurich – blockchain@swisscom.com

Jorge Alvarado Flores, Head of Technology at Swisscom Blockchain, says:

“It was a great experience to work with the Web3 Foundation on the realization of this project. We’ve come to realize how important it is to combine efforts between the enterprise and the open-source world, in order to increase the adoption of blockchain technologies to solve real-world problems. Looking ahead we are hopeful that our contributions to Web3 Foundation on the automated deployment of sentry and validator nodes will be useful for other enterprises to engage in the Polkadot ecosystem.”

Find out more about this project:

https://github.com/swisscom -blockchain

About Swisscom Blockchain

Swisscom Blockchain is a Swiss Startup belonging to the #1 telecommunication company in Switzerland. As experts in Blockchain, Swisscom Blockchain is developing innovative products to help its clients to exploit the full potential offered by this technology. The company is offering Node as a Service and Self-Sovereign Identity based solutions.

https://www.blockchain .swisscom.com/

About Web3 Foundation

Web3 Foundation funds research and development teams building the technology stack of the decentralized web. It was established in Zug, Switzerland by Ethereum co-founder and former chief technology officer Dr. Gavin Wood. Polkadot is the Foundation’s flagship project.

https://web3 .foundation/

September 10, 2020
Top 3 Coins to Watch – Week 37

Many cryptocurrency markets entered Week 37 deep in the red numbers as almost $60 billion were wiped during the weekend’s market drop. While the start of the week was not very good, to say the least, we hope that the remainder of the week will bring some better news. We believe that the coins in our selection have a higher chance to quickly recover and return in the green than other crypto assets.

1. Bitcoin (BTC)

Although we believe that Bitcoin does not need much introduction and that all eyes would be on it even if it were not featured on our list, here is a short summary of its history and key characteristics. The world’s pioneer cryptocurrency was launched by pseudonymous figure named Satoshi Nakamoto in 2009 and has a capped supply of 21 million coins. The decreasing miner block rewards makes the cryptocurrency scarcer with time, ensuring a deflationary nature.

Buy/Sell BTC

Bitcoin Struggles to Keep above $10,000

The price of Bitcoin has fallen under $10,000 for the first time since the end of July on September 5 and it’s trading around 3% lower than a year ago. The world’s first born crypto has lost nearly $2,000 of its value since the end of August in a relatively steep negative market trend. The price drop comes after a relatively successful month for Bitcoin, in which we saw five promising attempts to break the $12,000 resistance level. While Bitcoin did tumble on March 12 along with the stock market, the largest cryptocurrency by market capitalization quickly recovered and entered a rally that lasted nearly half a year and drove the price from $4,000 to almost $12,000. It seems that the market needs to breathe a little (and readjust a little too) since the move has been quite substantial.

In addition, there are currently two big gaps on CME Bitcoin futures market: the first $260-gap between $9,665 and $9,925 and the second $160-gap between $10,425 and $10,585. Typically, when a gap in futures markets appeares, the market will move to fill the gap. The aforementioned Bitcoin gaps are expected to be filled in near future as well, which means that even a drop to $9,600 or even $9,200 should not come as a surprise.

At the time of writing, Bitcoin is changing hands at the price of $10,180, but continues to struggle to keep above $10,000 as the support level at that price is weakened. Next levels of support lie at $9,800, $9,600, $9,430, $9,284 and $9,200. Nevertheless, if Bitcoin manages to stay above $10,000 things would be looking better for BTC than for most of the altcoins in this plunging times.

2. Ampleforth (AMPL)

Ampleforth is synthetic commodity money that adjusts its circulating supply daily, based on market circumstances. Based on the inputs from trusted price oracles, the protocol proportionally increases or decreases the total number of AMPL tokens that each user holds. The result is a digital currency that it less affected by price moves of Bitcoin and other major cryptocurrencies.

Buy/Sell AMPL

Ampleforth Will Launch Beehive 2.0 Geyser Program on September 10

The Ampleforth team is getting ready for the launch of its latest edition of the Geyser liquidity mining program dubbed the Beehive 2.0 that is scheduled for September 10. Participants in Beehive 1.0 program will need to withdraw their UWETHAMPL-V2 and deposit them in the new contract. Any new stakers, that wish to participate in the program will have to first deposit ETH and AMPL into the Uniswap V2 liquidity pool. They will than receive UWETHAMPL-V2 tokens that can be staked in the Beehive 2.0 Geyser. The liquidity mining program will distribute 1% of the total AMPL supply as rewards for stakers over the course of 90 days. Users that stake their tokens for 1 month will receive doubled rewards, while those who choose a 2-month staking period will benefit from tripled rewards. More details on the Beehive 2.0 are available here.

3. Enigma (ENG)

Enigma (ENG) is a crypto investment platform that allows users to set-up and run micro-crypto funds. In addition, the project aims to solve the problem of privacy on the blockchain by introducing secret smart contracts.

Buy/Sell ENG

Launch of Secret Smart Contracts is Just Around the Corner

The Enigma decentralized governance community will vote on the proposal for the integration of secret contracts to the Enigma Secret Network on September 8. Provided that the ENG holders approve the addition new feature, which they almost certainly will, the secret contracts will roll-out with a mainnet upgrade that will take place on September 15. After the upgrade users will be able to program and sign secret contracts on the Enigma’s Secret Network. The blockchain will facilitate private computation across a node system with secure enclaves by encrypting smart contract inputs and outputs and distributing them redundantly among Enigma nodes. Such system will allow the contents of the smart contracts to remain private, even to the nodes executing them. The whole proposal, which is described here, might prove to be a pivotal move for the project.

September 8, 2020
Crypto.com Releases the Spanish version of its Mobile App and Exchange

<Hong Kong, September 07, 2020> Today Crypto.com introduced the Spanish version of its App and Exchange, marking another milestone for the company on its mission to accelerate the world’s transition to cryptocurrency. As a result, Crypto.com’s services will be accessible to the 500m+ Spanish-speaking community around the world.

Open Account and get $50

The Spanish-language versions of the App and Exchange follow the recent release of French-language versions, as the company continues to grow globally and especially throughout Europe. Known for its deep liquidity, low fees and Crypto Earn program, Crypto.com reached the 3 million user milestone in July. This milestone was reached shortly after rolling out the Crypto.com Card to 31 European markets in April. Since then, the Crypto.com App has reached top 50 in the Finance category in Spain, France, UK, and Italy where its popularity continues to grow thanks to unrivaled benefits: competitive rates, unprecedented cashback rewards when shopping with the Crypto.com card, and the ability to purchase Gift Cards using crypto for top brands throughout Europe. The team has bolstered its regulatory compliance within the complex payments and crypto ecosystem and launched local Telegram communities supporting most EU languages for better access to instant feedback and support.

Mariana Gospodinova, Crypto.com’s Europe GM said: “Shortly after releasing the French-language version of our App and Exchange, we’re excited to be supporting the vibrant Spanish-speaking community as well. This is yet another solid step on our mission to accelerate the world’s transition to cryptocurrency. Expect to see more languages supported in the near future.”

Spanish language versions of both the Crypto.com App and Crypto.com Exchange will be available immediately. Crypto.com will provide community support via its dedicated Spanish-language Telegram channel: https://t.me/Cryptocom_ES

About Crypto.com

Crypto.com was founded in 2016 on a simple belief: it’s a basic human right for everyone to control their money, data and identity. With over 3 million users on its platform today, Crypto.com provides a powerful alternative to traditional financial services, turning its vision of “cryptocurrency in every wallet” into reality, one customer at a time. Crypto.com is built on a solid foundation of security, privacy and compliance and is the first cryptocurrency company in the world to have ISO/IEC 27701:2019, CCSS Level 3, ISO27001:2013 and PCI:DSS 3.2.1, Level 1 compliance. Crypto.com is headquartered in Hong Kong with a 500+ strong team. For more information, please visit www.crypto.com.

For press inquiries: press@crypto.com

September 7, 2020
New York Supreme Court Rejected Appeal Over Lost Funds, Gold Over Bitcoin

It was reported that the New York Supreme Court rejected Bitfinex’s appeal in the ongoing dispute with over more than $850 million lost corporate and client funds.

According to the latest crypto news, iFinex, who operates Tether and Bitfinex told that they deposited the funds to a Panama-based company but was later apprehended by Portuguese, Polish, and American authorities.

The court also declined the argument that Tether was neither a commodity nor security.

‘Not even virtual currencies are above the law. We are pleased with the court’s decision, and will continue to protect the interest of investors in the marketplace’

Attorney General Letitia James said.

Attorney James is the one who filed a lawsuit accusing Bitfinex of using the reserves of Tether, an affiliated company, to cover up their loss to a Panamanian payment processor.

‘We will respect the court’s order. We have no further comment on this matter at this time’,

Stuart Hoegner said, Bitfinex’s general counsel.

Bitfinex is a known cryptocurrency exchange that is owned and operated by iFinex. Even before this issue, the company also lost about $400,000 in 2015 and $73 million in 2016 due to hacking schemes.

It is also a company known as a peer-to-peer Bitcoin exchange that offers digital asset trading services around the world.

Challenges in Running a Cryptocurrency Exchange

There are a lot of things to consider when it comes to operating a cryptocurrency exchange. You need to consider the regulation in the country you operate in and even the level of security you can provide to your customers.

The regulations concerning crypto can vary from being too strict or nothing at all. There are also a lot of government officials who are considering stronger anti-money laundering laws. As a matter of fact, the Crypto-Currency Act of 2020 was already introduced by Paul Gosar, a Republican from Arizona. It is a proposed bill that helps the government regulate crypto transactions.

In addition, regulations are also always subject to change. It may also cost a lot to pay for a professional to help understand and verify AML (anti-money laundering) documentation from customers. Failing to do so may lead to expensive fines or might even cause the platform to shut down.

An AML is a set of laws, regulations, and procedures specially designed to stop people from generating income through illegal means.

Another challenge is maintaining consumer traffic while providing a user experience that pleases everyone. Aside from having good exchange rates, customers also want to make sure that the funds are safe from inside operators and hackers. This is also the reason why the crypto market has one of the most active customer service support.

However, even if there are a lot of challenges to face, most cryptocurrency exchange companies are willing to take the risk because of the increasing crypto users, especially Bitcoin owners.

The Value of Gold

On the other hand, Michael Novogratz advised investors to own more gold than Bitcoin. Novogratz is also the one who predicted the possibility of BTC hitting the $20,000 by the end of 2020.

‘My sense is that Bitcoin way outperforms gold, but I would tell people to have a lot less Bitcoin than they have gold, just because of the volatility. Bitcoin is still hard to buy. If it was easier to buy, it would be a lot higher. And there are more and more people making it easier to buy: funds being set up, custodies being done, at one point we’ll get an ETF’,

Novogratz said.

He also stated that Bitcoin is still in the early adoption cycle which makes it difficult to obtain. But if more digital currency tools are introduced in the market, there is a big possibility for mass adoption to crypto.

Amidst the COVID-19 outbreak, the value of gold broke its $1,800 threshold. It is also the highest recorded price since 2011. The spike in the value of gold is said to be the result of economic fear because of the pandemic.

Mining Investment

It was also reported that small companies who are planning to invest in mining equipment might totally result in a positive outcome. Even after the Bitcoin halving event, the miners are indicating an optimistic look for the crypto industry.

‘Mining is a business that is absolute in the key numbers, so it’s simply a question of assessing profitability on an ongoing basis. While difficulty and hash rate is variable and closely related, we can assume that both will increase over time. If the Bitcoin price rises significantly, we can also be quite confident that they will rise much faster’,

Jason Deane said, an advisor and financial analyst.

‘It all comes down to cost and protecting position — if you can secure power that ensures your breakeven is very low, say $6,000 or less per Bitcoin, then you have good insurance against whatever comes next’,

he added.

September 7, 2020
Blockchainsation
Blockchainsation is the biggest Blockchain and Cryptocurrency related event in the region. It is 3 days of fun, blockchain and crypto experts, networking, useful knowledge, relaxation, and much more in the heart of Slovenia. It will take place from 14^th – 16^th of May 2021 in a beautiful city of Laško in Slovenia.

Blockchainsation slogan is: “…more than a conference”, and by the words of Roman Berginc, CEO of All About Crypto who is main organizer of the event, it will be more than a conference.

“On every conference I expect: useful knowledge, new connections, lots of fun and good food. Think about how many conferences did you attend lately that gave you all of that? Well whole event preparation is focused in providing you at least those few. But I’m pretty sure you will get much more.”

In this 3 day event attendees will have a chance to get a detailed view on what exactly is happening in Blockchain and Cryptocurrency world lately.
- What is the status of various ICO projects?
- Which are the working solutions that came out and people can utilize already?
- How the industry has evolved?
- Where are we going / what’s next?
- Where are we already using blockchain and why?
- Is there a use case of implementing blockchain solution in my industry?
- …and much, much more.
Event will be happening on multiple stages, so it will be easy to select a theme that is of attendee’s best interest.

Large role in event dynamics will be provided by event partners and exhibitors who will showcase their products and solutions and provide detailed information about it, so everyone will have a chance to get their questions answered directly from the experts.

Blockchainsation will provide plenty of time also to connect with other people and have a chat at our social event or schedule a meeting using match-making tool, which does not only provide information about the person, but also helps you in checking how good your potential cooperation could be using specialized system for performing these checks. Details about it will be explained in one of upcoming interviews.

Besides all that, as stated already on the start, the goal is, that after event, every –ones words will be “Well, this was really more than a conference”.

For further info check links below

Website: https://blockchainsation.com/

Contact: info@blockchainsation.com

YouTube: https://www.youtube.com/channel/UCWbgl6ikTpCXI5fFK_-wRpQ

Facebook: https://www.facebook.com/blockchainsation/

LinkedIn: https://www.linkedin.com/company/blockchainsation/

Twitter: https://twitter.com/Blockchainsati1
September 3, 2020
Top 3 Coins to Watch – Week 36

Summer has officially come to an end and Week 36 is already in full swing. This means that it is time for our already established weekly article on Top 3 coins to watch. Get ready because we think that an interesting week is ahead of us.

1. Synthetix Network Token (SNX)

Synthetix is an upgraded version of the Havven protocol, which is a decentralised payment network and nUSD stablecoin issuer that aims to allow anyone to transact using a stable cryptocurrency. Synthetix on the other hand strives to offer much more. The SNX token will act as a collateral asset to back several synthetic assets, such as stablecoins pegged to the price of various fiat currencies, precious metals, and other cryptocurrencies.

Buy/Sell SNX

Pollux Upgrade Took Place on August 31

The Synthetix team deployed the Pollux upgrade on August 31 at 9pm UTC. The upgrade features improvements to several features, such as the trading and volume incentive system, staking rewards contracts, and flexible contract storage. In addition, the upgrade includes an integration of the ChainLink’s oracle. During the mainnet upgrade users were unable to transfer SNX or Synths or access Mintr and Synthetix.Exchange. The process took several hours to complete. Just recently, the project announced successful upgrade roll-out on Twitter. You can read more about the features that the Pollux upgrade brought here.

2. Just (JST)

JUST is a decentralized lending platform that allows users to stake their Tron (TRX) tokens. Stakers are rewarded with the USDJ stablecoin for locking their TRX into the JUST’s CDP portal.

Buy/Sell JST

The project was launched by famous Chinese crypto entrepreneur Justin Sun, who is best known for his position as the founder and CEO of the TRON blockchain project. The 28-year old entrepreneur, who started out his crypto journey as an employee of Ripple, often faces criticism for his aggressive promotion of TRON on social media. Furthermore, Sun recently launched a DeFi meme coin named after himself ($SUN), which he proudly announced to his 2.1 million Twitter followers:

Mining $SUN 🌞.
— H.E. Justin Sun 👨‍🚀 🌞 (@justinsuntron) August 31, 2020

Justin Sun Announces USDJ & JST Yield Farming

According to Justin Sun, the USDJ and JST yield farming feature has gone live on August 31. The Tron network is apparently setting sail into the DeFi space as they also launched the JUSTswap platform, an alternative to the popular DeFi exchange Uniswap, on August 17. JUST now aims to enter DeFi lending, acting similarly to MakerDAO. The launch of yield farming will grant increased attention and trading activity to both the USDJ stablecoin and the JST token.

3. Polkadot (DOT)

Polkadot is a blockchain solution that allows multiple specialized blockchains called parachains to run at the same time and interoperate, granting economic and transactional scalability.

Buy/Sell DOT

Polkadot Surges to 5th Place by Market Capitalization

The Polkadot’s cryptocurrency (DOT) underwent a redenomination process on August 21, 2020. The community voted in favour of changing the number of Plancks (Polkadot equivalent of Satoshis in BTC) that constitute one full DOT. Before the redenomination 1 DOT was made of 10^12 Planck, while now 10^10 Plancks make 1 DOT. It is also worth noting that the token only became transferable on August 18. Prior to that date the token was being offered as an IOU document. Naturally, the August 21 100:1 split caused quite some confusion on the market as some exchanges including the renowned Kraken and Binance immediately switched to the new denomination and slashed the price of the DOT to 1/100 of what it was before, while others who continued to offer DOT IOU were still selling it for around $300. Soon after DOT trading commenced at the starting price of $3, the coin doubled its price, launching the Polkadot project to the top 10 cryptocurrencies by market capitalization. The project currently ranks 5^th, just after XRP and right before LINK, with its $5.5 billion market capitalization. The question arises, will DOT manage to cement its place among the top 5 cryptocurrencies? In any case, we believe that it is worth keeping an eye on this project.

September 1, 2020
BEN Global Airdrop to Galvanize Thousands of Students in September

New York, NY September 1, 2020 – The Blockchain Education Network (BEN) has announced the next iteration of its yearly airdrop, an educational campaign and event where students and blockchain clubs at academic institutions from around the world receive digital assets that introduce them to blockchain technology. The campaign starts on September 1st, and for 28 days students from across the world will be able to sign up for the airdrop. On September 29, the airdrop will be distributed during a global Zoom party hosted by the BEN executive team.

The transition across campuses switching to remote learning has made the airdrop especially important. BEN is an international community that has educated students, professors, and alumni since 2014 about the potential of blockchain technology. Members are provided with discussion forums and meetups, free special access to conferences and hackathons, and over four years of educational content. The network includes blockchain clubs from Rutgers University, MIT, Harvard, Stanford, Berkeley, and University of Michigan all the way to İstanbul Bilgi, IIT Bombay, and Tsinghua University.

“We’re excited to offer the Rutgers Business School Blockchain Hub and Rutgers students another opportunity to learn first hand about the digital asset space. This experience will help prepare them for a future where this technology will be essential in business transactions of all kinds. Proud to be working with BEN to make it happen!”
Chris Buren, Rutgers Business School Blockchain Hub president.

“BEN Turkey is participating in the BEN Global Airdrop which will help students learn about the digital asset space and why it’s needed. We will be giving this airdrop to our 5 existing blockchain clubs at Bahçeşehir, İstanbul, Sabancı, İstanbul Bilgi, and Kocaeli universities. With this opportunity, we also aim to reach new students from universities in Turkey that don’t have blockchain clubs yet.”
Müge Sarıtaş, BEN Turkey marketing coordinator.

“Making blockchain education more accessible to high-schoolers is crucial to prevent falling behind as a diverse range of industries are adopting blockchain. BEN’s latest airdrop aims to engage high-schoolers through a more accessible medium.”
Adit Gupta, BEN student ambassador at Reseda Charter High School in Los Angeles, CA

Every year, BEN coordinates a series of programs and events with the help of partners to educate and empower its 2,350+ students and alumni. The BEN Global Airdrop allows students to engage with blockchain by downloading a digital wallet, setting up an account on specific exchanges and other platforms, and becoming familiar with what it means to exchange value over the internet. This year, students will be given Bitcoin (BTC), provided by GDA Capital, and GAME Credits (GAME) tokens, an ERC20 that represents a new standard in digital assets for the gaming industry. BEN encourages other digital asset projects who want to engage academic institutions to reach out to get involved.

GAME Credits, a blockchain gaming network and one of this year’s main supporters, has allocated $5,000 USD worth of ERC20 tokens for 1,000 students. This will help students understand how their favorite video games could benefit from having internal, blockchain-based currencies.

“BEN has been a leader in blockchain education and empowerment for many years now. GAME Credits also believes in investing in the future and education and working with institutions of higher learning is a large part of our culture. It only makes sense to take part in the BEN Global Airdrop, which helps further the ethos that BEN has established of cultivating the next generation of innovators and entrepreneurs”
Jason Cassidy, CEO of GAME Credits.

The BEN Global Airdrop is an initiative developed in partnership with the GDA Group of Companies, an institution that fosters financial technology, blockchain, digital assets, and other disruptive technology businesses.

About BEN

The Blockchain Education Network (BEN) is a global network of blockchain students, clubs, professors, and alumni founded in 2014. BEN provides accessible blockchain educational resources, free and discounted conference tickets, jobs and internship opportunities, as well as an online and offline community for all its members. BEN has over 2,350 students who have gone through the program across 400 universities in over 96 countries. BEN’s team is spread across the USA, Canada, Italy, Turkey, India, Colombia, Australia, Dubai, Vietnam, and more.

For more information, visit www.blockchainedu.org

About GDA Capital

GDA Capital (GDA), the capital markets arm of the GDA Group of Companies, was founded by MLG Blockchain & Secure Digital Markets in 2019 bringing together 50+ years of digital asset focused capital markets, trading and financial technology experience. GDA also has a private equity and GDA ventures division to provide end-to-end solutions to disruptive and cutting-edge blockchain projects. GDA acts as the bridge between institutional capital into disruptive technology markets and has executed over $1 billion in transactions.

For more information:
GDA Group
GDA Capital
GDA Ventures
Secure Digital Markets
MLG Blockchain

About GAME Credits

GAME Credits (GAME) is the original in-game currency focused on eSports and the NFT (digitable) economy. With the power of blockchain technology, gamers can now have full ownership over all of in-game items allowing to sell them in a secondary market to other gamers or collectors. GAME Credits brings a new level of innovation to the gaming experience by allowing gamers to stake their GAME on their favorite games and be rewarded with GAME Rewards from those they stake on, making it much more than just an in-game currency.

For more information, please visit www.gamecredits.org

September 1, 2020
Weekly Recap: Bitcoin and Ethereum Build the Support for Another Major Upswing

Konstantin Anissimov, Executive Director at CEX.IO:

Following Monday’s, August 24th, open, the flagship cryptocurrency went through a bullish impulse that saw its price rise by nearly 1.50%. Bitcoin kicked off the day at $11,650 and quickly surged to hit a weekly high of $11,823. The upward price action in such a short period after the first trading session of the week began suggested that BTC was bound for a further advance.

As investors became overwhelmingly confident about further gains, they started placing their bets. However, the market turned around on August 25th, wiping out many traders. Roughly $152 million worth of long and short Bitcoin positions were liquidated across the board on this day alone. The 5.53% nosedive the pioneer cryptocurrency took on Tuesday was the leading cause for so many margin calls.

Indeed, BTC went from $11,753.26 to hit $11,102.72, which was the week’s lowest price point. This price hurdle, however, served as stiff support allowing prices to rebound. By Wednesday, August 26th, at 16:00 UTC, Bitcoin had recovered nearly 4% of the losses incurred, rising to a high of $11,540.

Another downswing took place throughout Thursday, August 27th, that appeared to have formed a double bottom pattern on the hourly chart. Following the peak of the previous day, the bellwether cryptocurrency dropped by 3.60% to hit a low $11,125. The “W” pattern was then confirmed as Bitcoin bounced off this support level to close the week at $11,535, providing investors a negative weekly return of 0.99%.

Ethereum Goes Through High Volatility But Closed the Week With 1.17% Gains

Like Bitcoin, the smart contracts giant also kicked off the week on the right foot. Its price surged from Monday’s, August 24th, open of $390.78 to hit a weekly high of $411.97, representing a 5.42% upswing. Given the significant gains posted on Monday alone, ETH holders seem to have gotten over-excited about the upward price action, and the bears noticed it.

As a result, a considerable number of sell orders began piling up across different cryptocurrency exchanges. The mounting selling pressure was significant enough to push Ether’s price down over 10%. The second-largest cryptocurrency by market capitalization went from trading at a high of $411.97 on Monday to reach $369.36 on Tuesday, August 25th, which was the lowest price point of the week.

Regardless of the downward price action, demand quickly picked up around this support barrier, allowing ETH to rebound. Ethereum then surged by 6.54% to hit a high of $393.50 by Wednesday, August 26th, at 16:00 UTC. Such a stiff price hurdle was able to keep surging prices at bay, triggering a 5.59% retracement that extended throughout August 27th.

The $370 support level proved to be an area of significant interest once again, sending Ethereum back up. From that point on, Ether entered an uptrend that saw its price rise over 6.40% to close the week at $295.35. Despite the high levels of volatility that ETH experienced throughout the week, it provided investors a weekly return of 1.17%.

Further Gains on the Horizon

Based on the price action that Bitcoin and Ethereum went through over the past week, it seems like these cryptocurrencies have developed the same reversal patterns on their hourly chart. The appearance of a double bottom formation suggests that BTC and ETH will likely continue to rise towards $11,800 and $410, respectively. But breaking through these resistance levels would likely result in further gains.

Indeed, the top two cryptocurrencies by market capitalization seem to be contained within parallel channels from a macro-perspective. Following the recent test of this technical pattern’s lower boundary, it is reasonable to assume that they will surge to test the upper edge. Such a bullish scenario will be confirmed when these cryptocurrencies break above the overhead resistance previously mentioned.

If this happens, Bitcoin may be able to surge towards $12,000, while Ethereum would likely aim for $440. Everything will depend on their ability to continue trading above the lowest price points of the week.

August 31, 2020
Safetrading – Artificial Intelligence Protect Your Investments

Have you ever lost money because of scammers?

Scammers are services that exist to steal the money of crypto traders using different schemes which depend on the type of service. Unsafe crypto wallets, scam crypto bots, exchanges, ICOs – they are not uncommon nowadays. These fake services are the biggest challenge for the crypto market.

Safetrading appeared more than two years ago. This cryptocurrency platform was created by Andreas Schmidt because of his tragic experience. His biggest belief is that people should learn from the mistakes of others, and he is ready to help beginner-traders to invest safely and get profits.

As we know, the real challenge for newcomers is to find legit services – 70% of newcomers lose their money because of the lack of knowledge or after working with scam services. For example, according to the calculations of Safetrading, 85-90% of crypto signals trading Telegram groups are scammers.

These figures above are not made-up.

Safetrading is unique – it checks cryptocurrency services with the help of artificial intelligence which, based on important parameters, can make a conclusion about the quality of services.

Machine learning helps to analyze the big amount of data and, based on the unique algorithm, create patterns that allow making the final conclusion.

Among the important parameters are mentions of the exchange or bot in different doubtful sources, feedback of users on the Internet, profit, number of services, features, the background of founders, year of establishment, the source of investments, etc.

At the beginning of the activity, the traders behind Safetrading did everything on their own using their special calculation rules, and later, when this platform became a real breakthrough on the market, they decided to connect AI algorithms which carry out the procedure faster and analyze the data which is impossible to be gathered manually.

Many people may think that this type of review can be improbable because programs make mistakes. Safetrading claims that the accuracy of their algorithm is 95% and this is enough to make the final conclusions. The number of negative feedback on crypto service providers decreased by 15 times, and the number of positive ones increased significantly, and these results confirm the quality of the algorithm.

Then, based on the results of this review, human thinking interferes. The team analyses all the results and then check some more features that can’t be checked by AI. After all of the processes of review, the team writes a comprehensive audit about the trader or bot.

Right now this program can review only crypto signals channels and crypto trading bots. Soon the review of exchanges and wallets will be conducted in this manner to help you with finding the best crypto wallet.

Many traders hope that cryptocurrency has great potential in the near future, and all of us need to do all our best to make this future safe and legit.

August 28, 2020