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Ethereum News

Founder Of OmiseGo Sees Massive Ethereum Scaling And Adoption By 2020

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Jun Hasegawa is the founder and CEO at OmiseGo, which is a billion-dollar blockchain network that will launch on top of the Ethereum protocol. As of recently, he outlined the future of Ethereum and the roadmap of its growth in the coming years.

Hasegawa said that Ethereum is moving forward at a good pace. He knows that 2017 was a year of speculation for both Ethereum and projects launched on top of the blockchain protocol. In times when Initial Coin Offerings (ICOs) and token sales garnered billions of dollars per quarter, the amount exceeded the amount of money that companies in the crypto and blockchain space raised from accredited investors.

Ethereum increased in value 150-fold, rising from $10 to $1,500 within a 12-month period. However, the third-largest correction in market history hit and led Ethereum, along with many other leading altcoins to lose 70% to 90% of their value.

However, according to Hisegawa, the correction has allowed the market and developers to build products and scaling solutions to support the next rally.

The co-creator of Ethereum, Vitalik Buterin, also advised the OmiseGo network since last year. Just like Hisegawa, he is confident that the $500 billion market cap of cryptocurrencies cannot be justified without the huge impact on the finance sector and the massive potential of blockchain right now.

As Buterin noted:

“So total cryptocoin market cap just hit $0.5T today. But have we earned it? How many unbanked people have we banked? How much value is stored in smart contracts that actually do anything interesting? The answer to all of these questions is definitely not zero, and in some cases it’s quite significant. But not enough to say it’s $0.5T levels of significant. Not enough.”

Hasegawa, on the other hand, emphasized that the next two years will be crucial for Ethereum when it comes to real business adoption. He is confident that the network will see more large-scale decentralized applications (dApps) and massive scaling, as well as adoption by the government. As he wrote:

“2017 : Speculation (ICOs)
2018 : PoC / Ecosystem bui;d / Scaling solutions ( L2 #Plasma #OmiseGO/ L1 #Sharding #Casper ) / Interchain protocols
2019 : Real business adoption / UIUX focus tools / More Dapps
2019 to 2020 : thereum massively scale and used by gov. We will see huge difference between real adoptable protocol and toxic speculation project.”

 

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Ethereum News

Ethereum Price Closer To $175: Is $182 The Next Milestone For ETH?

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ethereum price
There has been a strong rebound in the Ethereum price lately. As the coming altcoin news show, the price of ETH has managed to reach $175 but later corrected to its current levels at $171. Still, the momentum is big and the ETH/USD pair has tested the $170 resistance level, settling above the 100 hourly simple moving average, as data from CoinMarketCap shows. Finally, the Ethereum price broke the $169 and $170 resistance levels and extended the rally towards the $175 level (from yesterday's altcoin news analysis), testing the $174 level and currently consolidating its gains below that level. The initial support is near $172 and the 23.6% Fibonacci retracement level of the recent wave from the $164 swing low to $174 high. On the downside, there are currently many supports near the $170 and $169 levels which were the previous resistances. Right now, the Ethereum price is changing hands with $172 and if it corrects and stabilizes below that margin, it is likely to find support near the $168 area. The good news, as shared on many best cryptocurrency news sites and by a lot of experts, is that the initial resistance is near $175 - which means a lot for Ether buyers. In other words, the Ethereum price could be pushed above and there could be a strong move towards the $180 and $182 resistance levels. That way, if buyers remain in action, we are likely to see a chance of a run towards the $190 resistance area. Looking at the latest cryptocurrency news and the chart, the Ethereum price is now trading nicely above the $168, $169 and $170 support levels. As long as there is no close coming in the $168 region, the price will remain in a positive zone. Below this level, the next support will be at $164 and the 100 hourly simple moving average. Right now, the overall price action is positive and the recent break above $170 suggests that bears are clearly struggling and trying to push the Ethereum price lower.
  • The technical indicators are as following:
  • Hourly MACD – The MACD for ETH/USD is pushing higher and gaining a bullish momentum, with a lot of positive signs.
  • Hourly RSI – The RSI for ETH/USD surged above the 60 level and it is right now stabilizing near 75.
  • Major Support Level is at $168
  • Major Resistance Level is at $175
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Altcoin News

Ethereum And Ripple Added To Coincheck’s OTC Trading Desk

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ethereum and ripple
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

Bitcoin And Ethereum Revisit Their 2017-Like Peak Trading Volume Levels

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The latest cryptocurrency news show Bitcoin and Ethereum from another perspective. Despite the recent market correction and the slide which saw the market lose around $17 billion, BTC and ETH have rallied nearly $1,000 in a matter of a single hour at the start of this month. This movement was featured on most of the best cryptocurrency news sites and was able to drag the crypto market along with it. As the altcoin news then showed, many altcoins managed to increase their trading volume and total market capitalizations because of Bitcoin and Ethereum, accordingly. Ripple, Litecoin, Bitcoin Cash...Many altcoins benefited from the rally, which was seen as the end to the bear market bottoms and finally positive news coming following the "crypto winter" that was pronounced and accented a lot over the past couple of months. Meanwhile, Bitcoin and Ethereum reached levels that weren't witnessed since the 2017 peak trading volume. In more detail, BTC's parabolic advance was broken at the tail end of 2017 with its all-time high of $20,000 which has become a distant memory. However, the trading volumes and the momentum that has built up showed that BTC and ETH have regained their ability to surge during short amounts of time. Throughout the 2018-2019 bear market, we saw volume continually diminishing. Everything began to ramp during the fall through $6,000 but quickly dropped back to the low levels. In what's seen as the longest bear market for Bitcoin on record, a major trend change occurred during last week's rally. This took Bitcoin's price from $4,200 to $5,200 in a matter of one hour - proving that bullish action may be on the corner. According to experts as well as certain indicators, Bitcoin and Ethereum went through a reversal that was legitimate - but bears have yet to give up - which is mostly evident in the latest pullback. We'll see what the rest of the day and tomorrow brings for the crypto market and if BTC and ETH are able to quickly recover from their recent downfall.
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Altcoin News

Tron Has Fastest Growing DApp User Base, But Ethereum Is Still The Developers’ First Choice: Report

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A new report released on April 9 by the DApp (Decentralized Application) analytics website DApp.com is in the altcoin news - revealing that Tron (TRX) has the fastest growing user base while Ethereum (ETH) is shrinking its user base in the DApp ecosystem. 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. It seems like gamers are the most active ETH DApp users - with more than 40% of the daily active users reported as gamers - a number which is up by 10% in the first quarter of this year. The report also stated:
“The Ethereum-based games have already created a stable community with a group of loyal audience.”
According to the numbers in it, the Q1 of 2019 showed that 504 DApps were added to the DApp.com list, of which more than half were Ethereum-based.
“It shows that Ethereum is still the No.1 choice for developers to build their dapp on. At the same time, we also have seen a trend in multi-chain developing, as many Ethereum dapps expand on multiple chains, such as Ethereum + EOS or Ethereum + Tron," the report sums up.
The number of active DApp users on the Tron blockchain reportedly amounted to over 300,000 while on EOS it is around 260,000. The report also showed that by the end of Q1 2019, the number of Tron wallets exceeded $2.3 million and about 15.46% of them interacted with DApps. Around 85% of Tron's DApp users interacted with the apps in Q1 2019 which translates to Tron being the most active chain among the four blockchains. The report also pointed out that 95% of the EOS DApps reported a transaction in the first quarter of the current year as did over 80% of Tron and Steem (STEAM) based decentralized apps. For more of the latest cryptocurrency news, head to our homepage!
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