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Ethereum News

Ethereum And Ripple Added To Coincheck’s OTC Trading Desk

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Ethereum and Ripple are officially added to the Japanese crypto exchange Coincheck’s over-the-counter trading desk. The latest cryptocurrency news today has more information about this amazing news.

According to reports, Ethereum and Ripple are the first two altcoins to be added on the new OTC trading desk.

Coincheck started operating its over-the-counter (OTC) service with Bitcoin (BTC) just when the month started and now offers Ethereum and Ripple one as the second and the other as the third largest cryptocurrency by market cap.

The Over-the-counter trading desks offer multiple specialized services for large-volume traders. This allows the traders to save money on fees and to avoid what would in other way be considered as hurdles during purchasing or selling major crypto investments through the old traditional methods.

The new feature became extremely popular among many crypto exchanges worldwide. Also, a blog post from Coincheck today shows that the exchange is considering adding other altcoins despite Ethereum and Ripple. The exchange stated that other altcoins will join the OTC trading desk but didn’t mention which ones will be prioritized.

The data on Ethereum and Ripple shows some interesting facts.

For example, on the Ethereum chain, analysts reported a 4% decrease in the number of DApp users compared to last year. Around 74,422 old users are still using the Ethereum-based DApps in 2019 – while decentralized exchanges (DEXs) are responsible for more than half of the ETH DApp transaction volume, followed by gambling applications.

Ripple went through a series of developments during this week. For example, the blockchain initiative by the European Commission stated Ripple is a crucial associate. Also, the Ripple Company made a partnership with the UK-based RationalFX in order to lend their RippleNet payment system. Finally, the Nordic Growth Market owned by the popular Boerse Stuttgart introduced an XRP tracking exchange-traded product for its investors.

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Bitcoin News

Crypto Markets Are Red: BTC Takes A Beating Below $8,200

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The Bitcoin news today show that the most dominant cryptocurrency is still trading sideways for most of the day. BTC managed to take a sudden dip in recent hours and has traded flat for the better part of the last 24 hours. With an intraday high of around $8,400, BTC took a sudden dip below the $8,200 and is the first sign that the crypto markets are red.The average daily trading volume right now hovers about $15 million, while its market share decreased to 66.3% which is the lowest level we have seen since the beginning of August. According to analysts, Bitcoin needs to take a further dip and test the $8,000 price mark once again.On the good side, the crypto markets are red but BTC is still up 120% since the beginning of the year, when it was trading in the range of low $3,000s. Meanwhile, the ETH news show that Ether is not doing much better and is back in its $180 price mark. The biggest altcoin of all hit an intraday high of $187 but has since been declining to its current trading price and is down by 3% at press time.A lot of analysts hoped to see Ethereum climbing towards the $200 level. However, knowing that the crypto markets are red, the approach to the next critical resistance area was seemingly too much to handle for this altcoin.XRP is also reporting a minor loss of less than 1% overnight and is trading at $0.2878 per coin. With this, Ripple's XRP is part of the altcoins which are showing a price downturn that might be sign of worse things to come.The top 20 cryptocurrencies by market cap are mostly showing reds, and EOS is being hit with a loss of more than 6%. Meanwhile, Tron (TRX), Cardano (ADA) and Chainlink (LINK) are all showing losses of around 5% on the day.The only exception is Bitcoin SV (BSV). While the crypto markets are red, BSV is showing gains of almost 4% on the day, and right now we can see that one BSV trades at nearly $90. The overall cryptocurrency market cap lost around $4 billion overnight and is now trading in the $221 billion region.
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Ethereum News

Nick Szabo Claims Ethereum Is Becoming A ‘’Centralized Cult’’

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Nick Szabo claims that Ethereum’s leadership is showing clear signs of becoming a force to be reckoned with but it is also becoming a centralized cult as we are about to find out more in the ethereum news below.Ethereum is known to be inherently democratic but there is also an inherent need to perform a series of hard forks and upgrades. Ethereum has unrolled to drive to move on to the ETH 2.0 which is the proof-of-stake version of the network and while the early hard forks happened without the support of the miners, there is a disparity between the interests of the miners and developers. The conflict was very clear in a simulated environment as the Ropsten testnet split into two and the question was raised whether the miners could dispute the decision of the developers.The developers put up insurance against the mining which will make the process impossible at a protocol level and the miners may still have a huge influence. They also have the power to sway multiple decisions and this had led to the accusations of Nick Szabo who sees the network becoming cult-like. The protocol is trying to reinvent itself but the network is still running. Some smaller projects have also managed to re-launch on new blockchains but in the case of ETH, there is a big risk. The Ethereum coins are very important in the crypto ecosystem and the most recent DeFi concentrates significant ETH funds in smart contracts.Currently, Vitalik Buterin expressed beliefs that the users will not feel any change between ETH1 and ETH2 but the series of upgrades and decisions raise the specter of centralization each time when the team decides to steer the network. By all means, Ethereum was expected to start the proof-of-stake stage much earlier but so far the phasing out of mining is very slow and limited and ready to roll back into the crypto ‘’ice age’’ while still decreasing the block reward.  ETH is now trading at $184,62 as a most liquid altcoin with a registered volume above $7.24 billion in less than 24 hours as we can read in the latest cryptocurrency news.
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Bitcoin News

BTC Consolidation May Set Up ETH For A 30% Surge: Analysis

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The Bitcoin (BTC) dominance remains high today at 66.3% and so does the amount of attention that traders are dedicating to the largest digital asset and its price action, the cryptonews show. The move from $7,800 to $8,850 last week has led to the BTC consolidation period which we are seeing now - and one that could trigger the price of Ether (ETH) to surge by 30% in the near term.The move from $7,800 to $8,850 last week will have further entranced investors and the hope of breaking above $10,000 may have distracted some traders from noticing the awakening which occurred with many altcoins.As we reported earlier in the Ethereum latest news, a growing number of altcoins have posted impressive gains in the BTC consolidation period. It seems like this trend is set to continue - and for some traders - it is a welcome change of events.The multi-month consolidation for Bitcoin in a giant descending wedge led many altcoins to defy trader's common logic and the majority of altcoins continued to drop to new lows instead of rallying. As analysts show, a likely explainer of this scenario are the following facts:
  • Traders have burned their fingers from attempting to take altcoin positions in 2018.
  • Altcoins have decreased in value in the BTC consolidation period and when Bitcoin made a move from $4,000 to $13,800.
  • Altcoins continued declining in value as Bitcoin consolidated from June 26 until September 22 and traders appeared reluctant to take up positions in altcoins because of the previous cycles.
As it stands, the most recent drop from $10,300 to a multi month low at $7,700 served as a signal for many people to invest in altcoins. Some traders found confirming evidence in comparing Bitcoin and altcoin to identify some bottoming patterns and the possibility of future rallies.Meanwhile, there are still others who recall the year 2018 and the period when BTC traded in the $6,000 range for many months before dropping to $3,200 in November when the Bitcoin Cash (BCH) hard fork took place.The recent price action by Bitcoin in the $10,000 to $9,000 range also led some traders to predict that a drop below $8,000 might eventually bring the digital asset back in the $6,000 range and start a new BTC consolidation period. 
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Ethereum News

Privacy-Focused Zcash Demands Access To Ethereum’s DeFi Ecosystem

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Privacy-focused Zcash is looking to find access to Ethereum’s decentralized finance ecosystem as we are about to find out more in the latest news on altcoin.As reported just a day ago, the topic of interoperability was the key point of the now concluded Devcon 5 developer conference in Osaka, Japan. At this conference, many of the smaller crypto projects such as the privacy-focused Zcash but also many other smaller projects showed their interest into the Ethereum’s decentralized finance ecosystem. The co-founder of Summa, James Prestwich, stated:
 “Connecting to other chains doesn’t seem to be an Ethereum developer’s priority, but other chains seem to want to connect to Ethereum.”
The developers all over the world have been working on interoperability solutions just so they can enable different networks and to be able to interact more efficiently in an attempt to eradicate the existing issues in regard to scalability and speed. Related to this matter, the VP of marketing and business development at Electric Coin Company Josh Swihart, explained that the Zcash community will develop a wrapped ZEC token that can be used on the Ethereum blockchain network by saying:
 “If you want to do lending, if you want to do DAOs [decentralized autonomous organizations], all of that stuff could be done with Zcash as well … Ultimately, we want Zcash shielded [addresses] to be usable in Ethereum smart contracts.”
The ZCash Foundation board member Ian Miers explained the issue of why decentralized app creators might want to protect their addresses and smart contracts. However, as previously reported in the blockchain news, the South Korean cryptocurrency exchange UpBit stopped the trading support for six cryptocurrencies including Zcash. The exchange decided to delist these six privacy coins in order to block the possibility of money laundering and the influx of external networks. Also, a few days ago, the OKEx crypto exchange confirmed that they will also stop the trading of Zcash and other privacy-oriented digital assets. the exchange made clear that all of the coins fall short on the new guidelines that were set out by the intergovernmental body which is the Financial Action Taskforce.
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