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Ethereum News

CFTC Asks For A Public Comment On Ethereum’s Network

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The Commodity Futures Trading Commission (CFTC) is making headlines today on our DC Forecasts crypto news site for a new Request for Information (RFI) in which it asks for public comment and feedback to enable it better understand Ether and the Ethereum blockchain while expanding its cryptocurrency knowledge base beyond Bitcoin.

The press release which was published yesterday states that CFTC is seeking the feedback to inform everyone about the mechanics, technology and markets for cryptocurrencies outside of Bitcoin which has historically dominated this conversation.

The Request for Information (RFI) will accept responses for 60 days after being published in the Federal Register. An excerpt from it clarifies its main focus, stating:

“In a Request for Information (RFI) that will be published in the Federal Register, the CFTC is asking for public feedback on a range of questions related to the underlying technology, opportunities, risks, mechanics, use cases, and markets, related to Ether and the Ethereum Network. […] The RFI also seeks to understand similarities and distinctions between Ether and Bitcoin, as well as Ether-specific opportunities, challenges, and risks.”

As we can see from the statement, the information gathered in the course of the exercise will be used to improve the knowledge bank that CFTC has on the subject of cryptocurrencies, positioning it for effective regulation as the space grows.

Even though this announcement may be a hint, if it turns out that the CFTC is in the early stages of exploring approval for Ether futures, it could have a significant positive impact on Ethereum following its recent dethronement by XRP, becoming the third most capitalised cryptocurrency.

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Ethereum News

Google Cloud Services Now Support Ethereum Smart Contracts

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Google Cloud Services now support Ethereum smart contracts and the company is even expending resources to learn how the smart contract platform works. In today’s coming altcoin news we read more about how the people can integrate with the Google services and the smart contracts platform. None of the major tech companies want to miss out on the blockchain race but Google has been really quiet on the issue. The company makes billions by selling ads for its dominant search engine but it did mention that they had to learn how the Ethereum blockchain might work in the cloud environment. Google aims to enable its clients to operate on the ethereum blockchain and expand its services even more. The company is also looking at hybrid cloud-blockchain solutions with the help of Ethereum. Companies like Microsoft and Google are already providing blockchain services for the tech companies so the goal is to maintain clients in the ever-changing landscape. Most of the companies choose Google and Amazon depending on their needs since they both made efforts to integrate blockchain services but it seems like Microsoft is leading the way. Google integrated Chainlink and described:
 “Participants in prediction marketplaces allocate capital to speculate on future events in general. One area of intense interest is which smart contract platform will predominate because, being networks ecosystems, their value will follow a power law (i.e. winner-take-all) distribution. There are many differing opinions about which platform will succeed, as well as how success can be quantified.”
The reports in the latest cryptocurrency news explain how smart contracts can be helpful for these tech giants and how Google’s services can be used in these tech giants. Google Cloud Services will apply hybrid applications will be built on the cloud infrastructure using the blockchain technology. While Google has yet to follow the path of Telegram and Facebook and announce some broader blockchain integration, they do however understand the importance of helping companies who need the blockchain. The mainstream service providers that offer blockchain services is the best way to mass crypto adoption. When the smaller companies find out that they have easy access to blockchain services, they are most likely to consider the technology and integrate some form of the decentralized ledger technology.
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Ethereum News

Ethereum’s ETH 2.0 Serenity Upgrade Will Launch By January 2020

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Ethereum’s ETH 2.0 Serenity upgrade will most likely launch by January 2020 according to the reports by the public blockchain developers who claim to be working hard on the project. We read more about the project in today’s altcoin news. The final launch date will reportedly be set on January 3rd, 2020. It is still not definite but the Ethereum Foundation researcher Justin Drake stated a couple of days ago during the 19th Ethereum’s ETH 2.0 implementers call that the new date was a reasonable target and could end up being selected for the activation of the Beacon Chain of Serenity ‘’Phase Zero.’’ The first phase will finish the Ethereum shift from proof-of-work (PoW) consensus to the proof-of-stake (PoS) consensus via validators. The Beacon Chain and once it is activated upon the genesis block will facilitate the proof-of-stake block validation via the Casper tech and will represent the foundation for later layering. Drake previously stated that the code specification of Phase Zero getting frozen later this month could lead the Ethereum community to conduct ‘’a deposit contract ceremony’’ during the year’s Devcon5 conference in Osaka, Japan this October. According to the latest cryptocurrency, Drake noted:
 “So the idea here is try and launch the deposit contract ahead of the target genesis [block], so that we allow time for validators to make deposits. And then one idea here is to basically do a deposit contract ceremony at Devcon. One of the reasons to have this very public ceremony is so that we can all agree on the exact address of the deposit contract and avoid scam deposit contracts.”
The Ethereum foundation researcher also explained how activating Ethereum’s ETH 2.0 genesis block on January 3rd could avoid the holiday months during the winter and could be perfect timing with the 11th anniversary of the Bitcoin genesis block network. Previously this month, the tech giant Microsoft released VeriSol which is an open-source smart contract verification tool for Ethereum to the Microsoft Azure computing platform’s cloud. Ethereum also saw its daily gas usage record getting broken by the end of May. Moreover, ETH 2.0 testnets are starting to materialize as well which gives the builders the opportunity to get familiarized with the Ethereum future.
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Ethereum News

Ethereum Will Skyrocket By 70% Against BTC: Analyst Prediction

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One pseudonymous cryptocurrency technical analyst with an alias "Rampage" recently predicted that Ethereum will skyrocket and will put Bitcoin in the shadows, rising by more than 70% against the most dominant cryptocurrency. The coming altcoin news show the tweet in which the analyst attached an image showing the price action of the two markets - overlaid in a single chart. As he predicted, Ethereum will move higher against Bitcoin and will closely follow the price action of its USD counterpart. https://twitter.com/Thrillmex/status/1130791859968782337 Even though the analyst who made the altcoin news is quite anonymous, his chart is definitely spot-on when it comes to the current technicals. He believes that Ethereum will skyrocket based on a compelling technical analysis - and a forecast that supports his prediction. What's also interesting is the fact that the same analyst has been featured on many best cryptocurrency news sites on May 24, when he emphasized how Ethereum converted the former resistance of 0.03 into support. In many books, this was seemingly bullish price action as it showed rejection of lower prices. The tweet below shows is a detailed illustration of that. https://twitter.com/Thrillmex/status/1131882711738703872 If we go into another perspective and see if Ethereum will skyrocket in the long run, a timeframe ETH analysis points to an ultra bullish take on a longer time frame. 'Rampage' also posted a chart where targets are specified - where the first target is 0.040873 and the second is set at 0.053449. Right now, ETH is trading at 0.030858 and a USD price of $264.30. If this analysis turns out to be accurate, more long positions in the market can boost the Ethereum holdings against Bitcoin - by more than 70% in the long run. https://twitter.com/Thrillmex/status/1131880904643817472 It has now been three weeks since this prediction was made - and ETH has yet to make a move. Still, bulls think that Ethereum will skyrocket in the next 24 to 48 hours - where the key level is set at the resistance between 0.031 and 0.032. A look in the latest cryptocurrency news shows that Bitcoin (BTC) managed to ignite a bullish run and trigger many altcoins to rise. The bulls are now in the perfect position to break out of the pattern and build significant momentum. All of which supports this analyst's forecast on Ethereum and its price targets.
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Ethereum News

Ether Surges To $246: Next Stop (And Crucial Challenge) At $255

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The price of Ethereum is featured in the coming altcoin news for its relatively good performance. Ether surges as we speak - but the real test now lies in the near term future. As soon as it started a steady rebound above the $240 and $245 resistance levels against the US Dollar, the price of Ether traded close to the $250 resistance area before consolidating to $246 which is its current price level. After trading to a new swing low at $226, the price of Ethereum started a steady recovery against the US Dollar. The pair traded above the $230 and $235 resistance levels, moving into a positive zone. As Ether surges, it is found to be coming close to the $250 mark with a positive 50% Fib retracement level of the major decline from the $255 high to $226 low. During this climb, there was a break above a key bearish trend line with resistance near $237 on the hourly chart of ETH/USD. Finally, the bulls pushed the price above the $245 level and the 61.8% Fib retracement level of the major decline from the $255 high to $226 low. In the other altcoin news, we are also seeing a positive price action recorded by Ripple (XRP) and other major altcoins. On the upside, as Ether surges, an initial resistance is at $248 and $250 above which the price might recover further. The main challenge for the bulls, however, is near the $255 - seen as a psychological level which is needed for a positive zone to be settled. Conversely, if the price fails to move around $250 or $255, we could see a fresh decline. The latest cryptocurrency news show a chart where the Ethereum price seems to be trading nicely above the $245 level. As long as there is no close below $240, there are chances of a further upsides in the near term.
  • Hourly MACD – The MACD for ETH/USD is slowly moving in the bearish zone, but with less negative signs.
  • Hourly RSI – The RSI for ETH/USD is currently well above the 50 level and is correcting lower.
  • Major Support Level – $240
  • Major Resistance Level – $255
The price action looks consistent right now. While Ether surges, a new positive influx of money is added to the market which may soon trigger a new bull run, as many analysts hope.
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