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Altcoin News

The Crypto Hedge Fund Run From A Dorm Room (And Its Massive Potential)

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Meet Trace Capital – a relatively new name in the crypto world and a hedge fund with big ambitions for the future. We are featuring this venture in our latest cryptocurrency news as an organization that currently manages more than $300,000 for a small group of investors and is getting bigger and bigger on the market.

The reasons for that are many. However, the biggest one is the fact that Trace Capital uses a custom designed algorithm to predict the price movements of cryptocurrencies (such as Bitcoin, Ethereum etc.) and has so far proved moderately successful. As featured on many best cryptocurrency news sites, Trace Capital’s mission is really impressive.

Just like hedge funds and their predictions on stocks, Trace Capital is designed to give profits to everyone investing in it. The hedge fund even got buyout offers – however – Leo Tulchin (CEO) and his partner say that they won’t sell it anytime soon (well, at least until they graduate from college).

The two partners are currently undergrad students at the New York University (NYU). In the news, they are getting a lot of nicknames for their expertise and their entrepreneurial spirit to run something as big as Trace Capital from the comfort of their dorm room. Even though they are now majoring in finance, they were previously in neuroscience and media.

As Tulchin said in an interview with the New York Post:

“We really believe in this thing.“Brandon and I are working together to incorporate into a cryptocurrency hedge fund. For now, we’re not taking a piece of things but just helping out friends and family.”

When it comes to actual results, there are many satisfied clients behind Trace Capital. One of them is Konig Chen who is a 22-year old hospitality and leisure management major. He entrusted the guys behind Trace Capital and profited with around $300,000 after the market correction at the end of the year.

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Altcoin News

LTC Price Can’t Keep The Pace Any Longer: Crypto Analyst

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ltc price
The LTC price was one of the best achievers in 2019 after it managed to increase up to a stunning 162 percent since 2018. In our coming altcoin news, we find out that the strong pace of the cryptocurrency, cannot be maintained any longer, at least that is what one crypto analyst believes. Binance coin was the only one to outperform the LTC price among the rest of the larger-cap crypto assets and Litecoin’s 2019 rally surpassed the price of bitcoin by at least 40 percent leaving the number one cryptocurrency behind. However, it seems that the sixth-largest cryptocurrency is approaching a sell-off period. Crypto brokerage BitOoda posted a note to clients saying that a downward trend is at the phase of creating on the Litecoin chart. This suggests that the LTC price could be on a short-term breakdown territory. The sell-off could cause the value of the altcoin to crash below the $75 support line. Brian Donovan, the EVP of BitOoda explained:
 “We have seen a downward wedge forming over the last week or so. We look for potential breakdown of that $75 near-term support.”
While the analysis from Donovan suggests that traders might want to take advantage of the short-term profits, the litecoin price breakdown does not mean that the altcoin will be weak in the long-term. It only shows that the LTC price will be up for a healthy retracement since its value surged by more than 350 percent after the bear market low at $22. Donovan continued:
 “LTC has rallied from the lows of last December from ~$22 roughly 350%. A short-term retracement would not at all be unlikely NOR would it be a bad sign for the token. Healthy pullbacks can and should occur in an asset that rallies this hard, this fast.”
However, as some of the best cryptocurrency news sites show, not all analysts are convinced that the litecoin support level will reach a breakdown point. The Rhythm Trader posted on Twitter explaining a more bullish scenario. He stated that if the volume is rushed to defending the support level, the LTC price could reach a triple-digit territory:
 “If $LTC shows a little volume here, this could get really interesting with a break of $100 quick if this support holds.”
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Altcoin News

Tezos Price Rises By 10% Reaching A New Five-Month High

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tezos price
Tezos price spiked over the weekend starting a positive movement after multiple rough sessions at the beginning of the week. As the altcoin news show, the XTZ altcoin reached a market cap of $790 million. The Tezos price compared to the dollar exchange rate shows a 10 percent increase by establishing an intraday high at $1.19. The USD/XTZ pair found a slight support level and it is the same one from the Bitcoin Cash forking even in November. The price did drop only to find a bottom area around the $0.34 price point. After the strong rebound, the XTZ value was brought back to $1.19 for the second time in one week. If a break above the $1.19 level happens, this could boost the Tezos price in the near term. The volume distribution on the market looks extremely concentrated on new altcoins. Overall, the XTZ-pairs show a solid $5.69 million worth of trading over the past 24 hours. BitMax, for example, was a host for more than 35.65 percent of those trades mainly against Bitcoin and Ethereum. However, as previously reported in our latest cryptocurrency news, the exchange has a reputation of faking the volumes. It is possible to assume that the Tezos price could find an intraday uptrend and spike further to influence the overall crypto market trend. Over the past 24 hours, most of the crypto assets were trading in green. For example, Bitcoin increased by 2.55 percent against the dollar while Ethereum and Stellar followed. The Minister of Finance of France Bruno Le Maire explained that the Tezos blockchain is superior to its peers. He was also speaking to an audience at the Paris Blockchain Week Summit making bold predictions about the Tezos price as well. He pointed out:
 “France has some nuggets on the entire value chain of new services to companies, hardware, and protocols. I am thinking in particular of Tezos and which allows the development of a blockchain protocol overcoming the known defects of public blockchains.”
The Tezos price was already improving after the partnership with Coinbase crypto exchange. Both of the companies now allow institutional investors to ear passive rewards. San Francisco-based Coinbase even promised up to 6.6 percent yearly returns to the investors.
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Altcoin News

Notre Dame Reconstruction Powered By Crypto Fundraising Campaign

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Notre Dame Reconstruction
A campaign for raising cryptocurrencies was launched yesterday by BlockShow in order to help with the Notre Dame reconstruction. In our latest altcoin news, we get more familiar with the idea. BlockShow is a blockchain event powered by Cointelegraph and on their official Twitter account, you can even see the idea for the fundraising in order to help the Notre Dame reconstruction. The team from BlockShow reveals that the campaign was launched after the devastating fire that destroyed one of the oldest cathedrals in the world. The BlockShow team announced two cryptocurrency wallet addresses for everyone that is interested in donating cryptocurrency for the Notre Dame reconstruction. The donations can be done in both Ethereum (ETH) and Bitcoin (BTC). There is also a link to the Foundations Du Patrimoine if you would like to donate fiat currencies. According to the latest cryptocurrency news coming from the National Public Radio, there are a few other campaigns launched for the Notre Dame reconstruction including a GoFundMe campaign and Avenir du Patrimoine a Paris. There are millions of dollars gathered already with the help of some of the richest men in France. News about the cathedral fire has caught the attention of many popular figures including the ex-president of the United States Barack Obama:
 “Notre Dame is one of the world’s great treasures, and we’re thinking of the people of France in your time of grief. It’s in our nature to mourn when we see history lost — but it’s also in our nature to rebuild for tomorrow, as strong as we can.”
The president of the European Council Donald Tusk also stated about the cathedral fire:
 “I’d like to say words of comfort and solidarity with the French nation, also as citizen of Gdańsk, 90% destroyed and burnt, later rebuilt. You will also rebuild your cathedral! From Strasbourg, French capital of the EU, I call on all 28 States to take part in this task.”
The news about the Notre Dame reconstruction reached all of the best cryptocurrency news sites where it can be seen that people around the world are willing to help. Popular singers, actors, and politicians joined the bandwagon.
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Altcoin News

CoinMarketCap Crypto App Is Live, Offering A Lot Of Added Features

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CoinMarketCap
The cryptocurrency data provider and generator CoinMarketCap is in the latest cryptocurrency news for launching its first CoinMarketCap crypto app in Android and iOS versions. The leading crypto data provider has decided to make a leap forward and arrive to the mobile marketplace, providing insightful data about all cryptocurrencies in an easy way. Notable, the new apps for iOS and Android offer features that are not yet available on the CoinMarketCap website and ones that are quite advanced. For instance, the coming altcoin news show that the CoinMarketCap crypto app now lets you track Bitcoin and altcoins, see candlestick charts as well as side-by-side cryptocurrency comparisons as well as price alerts and user accounts. Officially announced on Tuesday, the news about the app went live on many best cryptocurrency news sites. As the head of marketing at CoinMarketCap named Carylyne Chan stated:
“We believe that our users will like the new style and the features we’ve added to these apps, and we’ll continue to update the app regularly based on the feedback we receive.”
The new CoinMarketCap crypto app will prompt users to sign up for an account on the app in order to save their portfolios and/or watchlists. The company also said that it plans to allow app accounts to be directly synced with the website at some point in the future. Meanwhile, the app also features a section for crypto "gainers" and "losers" as well as industry news. All of the data, as the firm unveiled, is made available through the API product which the firm uses - and was launched last August. Aside from the CoinMarketCap crypto app, the company made the cryptocurrency news section lately for launching two benchmark indices that cover the top 200 cryptocurrencies by market capitalization. One of them was with Bitcoin (BTC) in it and the other without - shared on financial data feeds from Nasdaq Global Index Data Service (GIDS), Bloomberg Terminal, Thomson Reuters Eikon (Refinitiv) and Germany’s Börse Stuttgart, as well as on its own platform. The app is already launched for iOS (since May 2018) but is getting a revamp now, along with the Android CoinMarketCap crypto app. All of the work is developed from the blockchain analytics startup Flipside.
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