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Ethereum News

Bitfinex Just Launched Ethfinex Trustless: An ETH-Based Cryptocurrency Exchange

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Yesterday, Bitfinex has launched a new cryptocurrency exchange and named it Ethfinex Trustless, in an attempt to give traders more security, privacy as well as control of their funds. This has been one of the headlines present in the latest cryptocurrency news – especially because it concerns Ethereum (ETH) as a cryptocurrency that is struggling to go over the $200 mark over the past 24 hours.

Ethfinex now has a Twitter profile as well, where it self-promoted as a spin-off exchange from its ‘father’, Bitfinex.

The best way to describe Ethfinex Trustless is as a liquid, off-chain order book that does not require users to sacrifice the custody of their tokens or endure withdrawal and deposit delays. With no signups or KYC requirements, users don’t even need to provide their name, email, phone number or address in order to start trading.

Speaking of, the current trading pairs supported include ETH/USDT, OMG/USDT, OMG/ETH, ZRX/USDT, and ZRX/ETH – but the list will also include at least 40 more tokens soon.

Every user is required to hold a minimum one Ethfinex Nectar token in their Ethereum wallet, which will be distributed to traders every month. With this, Bitfinex believes that Ethfinex will deliver a new level of security privacy and liquidity in its digital asset trading. As the company explained in a Medium blog, centralized exchanges offer highly liquid order books that help traders quickly exchange tokens and currencies.

Currently, Ethfinex uses Ledger and MetaMask to offer anonymous, trustless, liquidity trading of more than 57 Ethereum-based tokens – where users can trade directly against Ethfinex and Bitfinex orders books.

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DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at editor@dcforecasts.com

Stefan is a full-time member and has been a Bitcoin Specialist for over 6 years. Providing daily news and updates for DC Forecasts.

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Ethereum News

ETH-Based Crypto Games Meet Definitions Of Gambling

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ETH-based crypto games, in fact, meet the definitions of gambling according to recent research by the University of York. Let’s read more in the ethereum news below.This week, the university published an article saying that the nine highest-ranked ethereum dapps games listed on State of the Dapps which is a directory of dapps, and found that they meet all criteria of gambling. The research paper which will be presented at the CHI Play conference in Barcelona, explains that the ETH-based crypto games are video games with a fully or partially distributed ledger architecture that runs on top of a cryptocurrency network. The players are provided with provable ownership over the virtual goods.The studied games consist of more than 16,000 player accounts and the article says that this number is a niche phenomenon when compared to the gaming industry in general. The researchers chose Ethereum because it is the oldest-dapp supporting cryptocurrency and has the most well-established network as measured by market capitalization. The researchers investigated the gameplay mechanics and also checked the data to see the way in which these players have been spending crypto in the game. To each of the games, they applied the combination of legal and psychological definitions of gambling.The psychological definition focuses on the behavior enabled by the activity, while the legal one focuses on the financial components of the outcomes. They also found “that all of the games in the sample meet our combined definition.”The games allow the players to exchange virtual goods for cryptocurrency which can later be exchanged for fiat money. As in many online games, the crypto-games allow the players to trade or auction in-game items in exchange for in-game currency. Unlike most free games, the crypto ones that have in-game currencies, are often exchangeable and can be used to pay for other goods and services. As the Ph.D. student in Computer Science Oliver Scholten stated:
 “Unlike games with loot boxes, all crypto-games in the study allowed the direct or indirect exchange of in-game items for real money, making them more readily fit criteria of gambling. All this doesn’t mean that the technology should not be used to build games on, but that “designers need to think carefully about how their decisions may affect player spending.”
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Ethereum News

ETH Plummets 6% After The BTC Flash Crash: Analysis

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ETH plummets 6% after the benchmark cryptocurrency dropped more than $500 in just a few hours so we are about to read further in the ethereum today news.Across all of the major crypto exchanges such as Binance, Coinbase, and BitMEX, the price of Ethereum dropped below from $173 to $163 recording a huge drop following the daily close. The major pullback of the altcoin is mainly because of the minor drop of Bitcoin which was seemingly demonstrating signs of a trend that is a reversal to the upside as it surged past $8,300. The daily trading volume of both Ethereum and Bitcoin is hovering around yearly lows on BitMEX which is known to have been a major influencer on the price trend of the entire crypto market due to the futures contracts.Usually, when Bitcoin shows a sideways movement during a prolonged period, the Ethereum price tends to show a spike in volatility. Throughout this month, the price of Bitcoin remained relatively stable in the range between $7,800 to $8,300 thus creating an ideal environment for Ethereum and some other major cryptocurrencies in general just to see higher volatility. This is why ETH plummets down below and the price also shows signs of a breakout to the upside as the low volume intensified the downward movement leaving the asset vulnerable to a short-term pullback.As previously reported, the technical analysts said that the Ethereum price is likely to correct all the way down to $150 if the bitcoin price makes its way to the low $7,000 region. Based on the current trends on the market in general, the market lost $50 billion in market capitalization since September and both assets are now forecasted to see an increase in selling pressure. The crypto trader Josh Rager stated:
 “As you can see with not only Bollinger bands but also historical volatility (HV) that a major move is brewing With a slow sideways market, we’ll see descending HV that indicates a strong reaction in price action ahead and rise in volatility.”
Many of the traders started anticipating the volatility of bitcoin as a result of an upside movement but BTC showed rejection at a low resistance level and the traders have started expecting a deeper pullback.
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Ethereum News

Bear Market ETH Futures Are Now A Better Bet Than Bitcoin’s

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The Ethereum news today show that the Commodity Futures Trading Commission (CFTC) is confident that the ETH futures are likely to arrive in 2020. Currently, analysts show that bear market ETH futures are a better bet than Bitcoin's futures - and that this could be good timing if altseason fails to materialize in the next few months and the Ethereum prices remain low.What we could see during the first day of the DC Fintech Week was an interesting mix of opinions which started when the CFTC Chairman Heath Tarbert said that he 'absolutely' believes that the Ethereum futures could trade in the next 6 to 12 months.
“The volume to which it’ll trade, no idea, that’s where the markets decide, but my guess is now that we’ve provided at least … a little bit more clarity on [ether’s eligibility for futures contracts], my guess is market participants will consider that.”
He continued stating that there have been no official applications by firms willing to launch Ethereum futures contracts. This is why the bear market ETH futures are seen as a major development.Considering the current regulatory atmosphere in the United States, this is hardly surprising. At the moment, four contenders could emerge and they include the names of Seed CX, ErisX, Tassat and LedgerX.So far, there is no response from CME or CBOE as to whether they will be offering ETH base futures. The crypto news also feature a CME spokesperson told Coindesk that they are focused on presenting options on CME Bitcoin futures to market in Q1 2020 and continuing to grow the CME CF Reference Rates and Real-Time Indices.Tarbert also said that a CFTC regulated exchange would provide investor confidence for Ethereum products in the manner of no market manipulation. When asked about the other crypto assets, he said that there will be other derivatives coming soon to a market near you. He did not specify more details or time frames.Meanwhile, ETH is still down from its peak whereas Bitcoin was approaching its all-time high when futures were first launched.
“Bitcoin futures launched at the ‘EXACT’ pinnacle of the bull market, a huge investment vehicle for those looking to short the market as it was clearly overpriced," a post published on Twitter read.
ETH is in no way overpriced at the moment and the markets are not overbought.
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Ethereum News

NBA Team Launches Ethereum-Powered Vinyl Toys

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NBA Team Sacramento Kings partnered with CryptoJaiju and will now start offering Ethereum-based vinyl toys. The fans will be able to purchase them in the upcoming 2019/2020 as we are about to see more in the ETH news today.This comes as no surprise since the team has been named as the most innovative company in sports by ‘’Most Tech-Savvy Team of 2016’’ Sports Techie and by Fast company as well. According to the official press release, the 100 vinyl collectible figurines will be powered by Ethereum and each today will be assigned a non-fungible token that ensures that no two Kaijus are the same. 15 out of 100 toys will have non-fungible tokens that reveal some unique experiences or prizes for the fans including courtside seats, VIP tours and signed merchandise from the NBA Team. The fans will also gain the opportunity to obtain these limited-edition toys from November which is when the team will start hosting monthly interactive scavenger hunts for the upcoming seasons.The Sacramento Kings Chief Technology Officer Ryan Montoya said that his team saw that using blockchain technology will bring more benefits to the team’s fans and will also outline the ability of the team to deliver innovative products and content to the fans. Earlier this month, the team collaborated with the entertainment-centric blockchain startup Blockparty in order to implement a free blockchain rewards system in the NBA predictive gaming application ‘’Call the Shot.’’ According to a press release, the fans of the NBA Team will accumulate blockchain-driven tokens that will be used to redeem prizes and unique events including signed merchandise and courtside tickers. As said by the team CEO Vivek Randive:
 “We have only just begun to see the benefits of blockchain technology as it transforms the way business is conducted worldwide, ensuring secure transactions across multiple sectors and customers.”
While the Kings still harness cryptocurrency-related technology, there is also an important facet of this announcement that the toys will be backed by Ethereum. Their user of ETH confirms that the trend the large companies are adopting blockchain technology and make their businesses successful by reducing friction and to also offer fresh products to their clientele.
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