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A decentralized app store might lead crypto toward more centralization

On the inevitable journey into the mainstream, crypto might replace one gatekeeper with another. Are we ready for this sacrifice?

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The estimated windfall Apple got from its App Store in 2020 is $67 billion. That’s up from $50 billion in 2019, a 28% increase. Even as the company has lowered its commissions for smaller developers, the App Store remains a major component of Apple’s bottom-line profits. And it’s not just Apple taking a cut of developer revenue: On Android, the world’s most popular mobile operating system, the Google Play Store netted $38.6 billion in 2020.

That’s over $105 billion in revenue from the top two app stores combined. It’s no wonder that regulators in many countries are closely considering whether there is sufficient competition in the marketplace. So it should come as no surprise that Coinbase, America’s most visible and well-known crypto exchange, also wants to be the on-ramp to the decentralized application economy.

But what do we sacrifice when we replace one gatekeeper for another? Does it jeopardize the decentralized ethos and accessibility for all that’s sacred to many crypto believers? These are important questions worthy of discussion as we build on our momentum and push further into the mainstream.

Related: Decentralization vs. centralization: Where does the future lie? Experts answer

The 80/20 rule

Vilfredo Pareto had it right with his 80/20 rule: 80% of revenues comes from 20% of customers. However, in the case of Apple’s App Store, it’s more like the 95/2 rule: 95% of revenue comes from the top 2% of apps.

Let’s assume that a decentralized application (DApp) store would reflect a similar reality, where the most successful apps generate the most revenue. That means any DApp store that managed to secure the most popular apps would have a huge advantage. The most well-funded platforms would spend lavishly to gain exclusivity and secure gatekeeper status. Then, anyone that wanted to access the top apps would need to go through that gatekeeper.

The monopolistic elements of any app store are what make the economics so lucrative. If you own the rails, you own the profits — it’s that simple.

But the 80/20 rule shouldn’t extend to Web 3.0 economics. Rather than many profits for the few, it’s many profits for many more, with users participating in the governance, growth, maintenance and daily operations of the ecosystems they favor. The ownership aspects of the Web 3.0 economy distribute rewards to ecosystem participants more evenly based on their contributions. It’s a more balanced dynamic that proposes a new way to do business.

Related: Is a new decentralized internet, or Web 3.0, possible?

Building the Web 3.0 DApp store

What will it take to ensure truly decentralized distribution for DApps? We’d need a DApp store that meets a few criteria:

  • Governance — first and foremost, a DApp store would be run by the community. There would need to be a decentralized autonomous organization to vote on all governance issues, such as commissions, security, etc.
  • Ownership — profits would be distributed to the community according to its governance structure. There would also need to be funds reserved for the organization to manage app verification, secure the system and maintain the community.
  • Tokenomics — there’s an opportunity to do some very interesting things around incentivizing developers to use the platform exclusively and do other key tasks like support the distribution infrastructure and other essential technologies.
  • Interoperability — users should be able to move freely between different DApp stores, taking their apps (and their data) with them. There can be no one DApp store to rule them all.

Related: Game theory meets DeFi: Bouncing ideas around tokenomic design

Apps are the center of the digital economy, something that will continue as we progress toward Web 3.0. The on-ramps into decentralized finance, nonfungible tokens and other emerging digital assets require mobile access points that bridge the gap between those who have laptops and those who only access the internet via mobile devices.

We’re in the midst of the transition from Web 2.0 to Web 3.0. While gatekeepers remain in positions of strength, they will continue to pursue user growth alongside decentralized protocols looking for access points to new users.

When we’ve truly transitioned into Web 3.0, we’ll likely see DApps that serve smaller niches than they do today. We’ll see a vibrant ecosystem of DApps that are more focused and developed by compact teams.

Related: How NFTs, DeFi and Web 3.0 are intertwined

We’ll also see apps deconstructed into component parts. For instance, a decentralized exchange will be deconstructed into several layers: the user-facing front-end, the aggregator back-end and the liquidity provider as infrastructure. It’s akin to the “monolith to microservices” evolution in the software cloud infrastructure space.

Without true decentralization when it comes to apps, we’ve simply replaced one gatekeeper for another. The key here is going to be the community’s commitment to supporting a diverse array of app store gateways.

What’s at stake?

The risk is that, on our inevitable journey into the mainstream, convenience and ease-of-use will trump decentralization. In fact, that’s often why centralized gatekeepers emerge: they make things less complicated, which in turn makes things more accessible to the masses.

As the crypto community works together to build a thriving digital asset economy that benefits the majority, we must all keep these tradeoffs in mind. We absolutely must make digital assets easy to understand and accessible while also pushing back on any arguments that centralizing power in the hands of the few is a worthy tradeoff on the fast track to the mainstream.

We can — and should — push back to protect what makes our shared vision so powerful: a future that’s accessible to all.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

The views, thoughts and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

Diane Dai is the co-founder and chief marketing officer of DODO, a decentralized digital asset exchange based in Singapore. She is a pioneer in the Chinese DeFi community and has extensive experience in marketing, social media management and business development. Prior to founding DODO, she spent time at DDEX and CypherJump.


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Source: https://cointelegraph.com/news/a-decentralized-app-store-might-lead-crypto-toward-more-centralization

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Coinbase Secures Another Millionaire Deal With the US Government to Let Them Use Its Blockchain Analytics Software

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As Bitcoin and Ethereum continue to trade laterally, many altcoins mirrored the same price patterns over the last 24 hours. The likes of TRON, EOS and Bitcoin Cash have all flashed signs of consolidation with minor losses.

TRON lost 1.7% and experienced a sell-off in the market. EOS also recorded a loss of 0.8% and was inching near its immediate support level of $5.20. Bitcoin Cash, on the other hand, recorded no loss but was seen trading sideways with chances of a price reversal, as parameters pointed towards a positive price action. 

Tron (TRX)

Tron, EOS and Bitcoin Cash Price Analysis: 19 September

TRX/USD, TradingView

TRON was consolidating on its charts after recording minor losses of 1.7% over the last 24 hours. The altcoin was trading at $0.105 and it just broke below its support level of $0.106. At the current price level, TRON was trading closer to its one-week low price level.

The nearest support line for TRON lay at $0.095. The additional support lines stood at $0.088 and $0.081 respectively. On the four-hour chart, the altcoin’s prices stood below its 20-SMA line, suggesting that the price momentum was in the favour of sellers. 

In accordance with the aforementioned statement about selling pressure increasing in the market, the Relative Strength Index was noted below the half-line in the bearish zone. MACD displayed red bars on its histogram. Capital inflows had also declined as the Chaikin Money Flow stood below the midline, a level it last hovered almost 3 weeks back. 

On the upside TRON’s resistance mark awaited at $0.112 and then at its multi-month high of $0.120. In recent news, TRX and BitTorrent have reportedly announced the launch of BitTorrent chain (BTTC). 

EOS

Tron, EOS and Bitcoin Cash Price Analysis: 19 September

EOS/USD, TradingView

EOS lost 0.8% over the past day and was trading at $5.24. At its current price level the altcoin revisited its three-week price level. EOS was inching towards its nearest support level of $5.20. With a further dip, the altcoin might fall and trade near its $4.53 support line.

On the four-hour chart, the price of the token was seen above the 20-SMA line despite recording a minor decline in the last 24 hours. The 20-SMA reading suggested that the momentum  was still inclined to favour the buyers in the market, however if EOS continues to decline, the prices can fall below the 20-SMA line.

MACD flagged a bearish crossover and displayed the onset of a red histogram. The Relative Strength Index was in the bullish zone above the 50-mark, although it threatened to fall below the half-line over the upcoming trading sessions. Similarly Chaikin Money Flow remained in the bullish territory as capital inflows still preceded capital outflows.

In the event of a revival in buying pressure the altcoin might revisit the $5.60 resistance mark and then attempt to retest its multi-month high of $6.35. 

Bitcoin Cash (BCH)

Tron, EOS and Bitcoin Cash Price Analysis: 19 September

BCH/USD, TradingView

Following broader market price sentiments, Bitcoin Cash was also consolidating and was trading at $636.57. Its immediate support line was at $608.74, which also marked the coin’s four-week low price level. If BCH continues to consolidate over the upcoming trading sessions, it may dip below the $608.74 support line and trade near the price mark of $524.73, which the coin last touched almost over a month ago. 

Key technicals however pointed towards the onset of a positive price action in the market. MACD underwent a bullish crossover and demonstrated green bars on its histogram. The Relative Strength Index rose above the 50-mark after the coin had experienced a sell-off suggesting that buying pressure recovered in the market. 

Bollinger Bands was heavily constricted indicating the price volatility would remain extremely low in the future trading sessions. If BCH manages to break on the upside, the first resistance mark lay at its one-week high of $672.68 and then at $705.02 respectively.

On successfully trading above the $705.02 price mark, BCH can revisit its multi-month high of $789.57. In recent developmental news, Bitcoin Cash was announced to be accepted as a payment method by AMC theatres.

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Source: https://ambcrypto.com/tron-eos-bitcoin-cash-price-analysis-19-september

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
Click here to access.

Source: https://coingenius.news/coinbase-secures-another-millionaire-deal-with-the-us-government-to-let-them-use-its-blockchain-analytics-software-7/?utm_source=rss&utm_medium=rss&utm_campaign=coinbase-secures-another-millionaire-deal-with-the-us-government-to-let-them-use-its-blockchain-analytics-software-7

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Blockchain

Tron, EOS, Bitcoin Cash Price Analysis: 19 September

Published

on

As Bitcoin and Ethereum continue to trade laterally, many altcoins mirrored the same price patterns over the last 24 hours. The likes of TRON, EOS and Bitcoin Cash have all flashed signs of consolidation with minor losses.

TRON lost 1.7% and experienced a sell-off in the market. EOS also recorded a loss of 0.8% and was inching near its immediate support level of $5.20. Bitcoin Cash, on the other hand, recorded no loss but was seen trading sideways with chances of a price reversal, as parameters pointed towards a positive price action. 

Tron (TRX)

Tron, EOS and Bitcoin Cash Price Analysis: 19 September

TRX/USD, TradingView

TRON was consolidating on its charts after recording minor losses of 1.7% over the last 24 hours. The altcoin was trading at $0.105 and it just broke below its support level of $0.106. At the current price level, TRON was trading closer to its one-week low price level.

The nearest support line for TRON lay at $0.095. The additional support lines stood at $0.088 and $0.081 respectively. On the four-hour chart, the altcoin’s prices stood below its 20-SMA line, suggesting that the price momentum was in the favour of sellers. 

In accordance with the aforementioned statement about selling pressure increasing in the market, the Relative Strength Index was noted below the half-line in the bearish zone. MACD displayed red bars on its histogram. Capital inflows had also declined as the Chaikin Money Flow stood below the midline, a level it last hovered almost 3 weeks back. 

On the upside TRON’s resistance mark awaited at $0.112 and then at its multi-month high of $0.120. In recent news, TRX and BitTorrent have reportedly announced the launch of BitTorrent chain (BTTC). 

EOS

Tron, EOS and Bitcoin Cash Price Analysis: 19 September

EOS/USD, TradingView

EOS lost 0.8% over the past day and was trading at $5.24. At its current price level the altcoin revisited its three-week price level. EOS was inching towards its nearest support level of $5.20. With a further dip, the altcoin might fall and trade near its $4.53 support line.

On the four-hour chart, the price of the token was seen above the 20-SMA line despite recording a minor decline in the last 24 hours. The 20-SMA reading suggested that the momentum  was still inclined to favour the buyers in the market, however if EOS continues to decline, the prices can fall below the 20-SMA line.

MACD flagged a bearish crossover and displayed the onset of a red histogram. The Relative Strength Index was in the bullish zone above the 50-mark, although it threatened to fall below the half-line over the upcoming trading sessions. Similarly Chaikin Money Flow remained in the bullish territory as capital inflows still preceded capital outflows.

In the event of a revival in buying pressure the altcoin might revisit the $5.60 resistance mark and then attempt to retest its multi-month high of $6.35. 

Bitcoin Cash (BCH)

Tron, EOS and Bitcoin Cash Price Analysis: 19 September

BCH/USD, TradingView

Following broader market price sentiments, Bitcoin Cash was also consolidating and was trading at $636.57. Its immediate support line was at $608.74, which also marked the coin’s four-week low price level. If BCH continues to consolidate over the upcoming trading sessions, it may dip below the $608.74 support line and trade near the price mark of $524.73, which the coin last touched almost over a month ago. 

Key technicals however pointed towards the onset of a positive price action in the market. MACD underwent a bullish crossover and demonstrated green bars on its histogram. The Relative Strength Index rose above the 50-mark after the coin had experienced a sell-off suggesting that buying pressure recovered in the market. 

Bollinger Bands was heavily constricted indicating the price volatility would remain extremely low in the future trading sessions. If BCH manages to break on the upside, the first resistance mark lay at its one-week high of $672.68 and then at $705.02 respectively.

On successfully trading above the $705.02 price mark, BCH can revisit its multi-month high of $789.57. In recent developmental news, Bitcoin Cash was announced to be accepted as a payment method by AMC theatres.

Where to Invest?

Subscribe to our newsletter

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.

Click here to access.

Source: https://ambcrypto.com/tron-eos-bitcoin-cash-price-analysis-19-september

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
Click here to access.

Source: https://coingenius.news/tron-eos-bitcoin-cash-price-analysis-19-september/?utm_source=rss&utm_medium=rss&utm_campaign=tron-eos-bitcoin-cash-price-analysis-19-september

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Smart Contracts Running on Bitcoin? Internet Computer Founder Explains How It’s Possible

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Upon its launch, Internet Computer took the crypto market by storm. It’s an ambitious project, supported by some major names in the industry. Designed and created by the DFINITY Foundation, it aims to give more power to the people over the Internet, and it could potentially take it into a new stage powered by its platform.

Now, the Internet Computer has taken another step into the future. Its community recently voted and approved the “Increased Canister Storage” as Internet Computer continues to integrate more features and upgrade its platform.

Next, the community will use the power provided by the Internet Computer governance model to vote on integration with the Bitcoin blockchain. In practice, this will allow Bitcoin to have smart contract functionality (or Canisters, as they are called on Internet Computer) on the Internet Computer network with low-cost transactions and fast finality. Thus, the decentralized ecosystem on both networks could expand into an unprecedented era.

We sat down with Dominic Williams, the founder and Chief Scientist of the DFINITY Foundation to talk about this proposal, its implications for Bitcoin and Internet Computer, and more. This is what he told us.

Q: It has been around 4 months since Internet Computer was deployed, how would you describe the current state of the project and the role the community is playing?

Dom: Developers and entrepreneurs have recognized its potential. As a result, the Internet Computer is experiencing ferocious growth as measured by the number of canister smart contracts running, the number of developers building, and the number of active users the dapps being built have, and arguably it is the fastest growing blockchain when looking carefully at these metrics. Moreover, developers have proven that the Internet Computer can be used to build things that cannot be built on any other blockchain today. For example, one of the most popular dapps on the Internet Computer is “Open Chat”, which already has several tens of thousands of users even though it is still in alpha. This runs entirely from the blockchain, which means that smart contracts are used to process the chat messages, and smart contracts also securely serve the interactive web content users interact with directly into browsers – which only the Internet Computer blockchain is capable of doing today. Therefore, not only has Web 3.0 become real, but the purposes to which blockchain can be applied have greatly expanded.

Q: Internet Computer is a relatively new project in a relatively new industry, why do you think people are drawn into it, what makes the platform unique?

Dom: I think more and more people are coming to the realization that blockchain is the future internet and has immense potential. For that reason, many, many developers, including those who are early in their careers and trying to decide which tech sector to dedicate their lives to, are magnetized to the blockchain. The Internet Computer is one of the oldest original crypto projects but was one of the last blockchains to launch because of the huge amount of R&D work involved in rethinking blockchain architecture from the ground up and developing the new cryptography frameworks that power it. But now that the Internet Computer is available, it offers capabilities completely unlike those of other blockchains.

It is the first blockchain to scale the seamless environment it provides for smart contracts so that it can host any number of smart contracts, and any volume of smart contract computations, and smart contract data, it is the first blockchain to run at web speed (it can finalize transactions in 2 seconds and can serve “query transactions” that don’t modify state in milliseconds), it is the first blockchain to run smart contracts with efficiency comparable to running software on traditional IT systems, and it is the first blockchain that enables smart contracts to securely serve interactive web content directly to those using dapps (today, dapps on all other blockchains have to host their websites on centralized infrastructures, such as Amazon Web Services, which creates all kinds of security and other issues). These capabilities mean the Internet Computer can even be used to create decentralized versions of mass-market social media services, which run entirely from the chain and can be blended with next-generation DeFi services. If you want, it can even be used to build secure enterprise systems, allowing organizations to migrate away from traditional IT to the blockchain. It has the potential to truly uncork the blockchain genie.

Q: Can you tell us more about the process that will allow Bitcoin to operate smart contracts power by Internet Computer? And how it’ll be different from synthesized versions of BTC already operating on Ethereum?

Dom: Today, the Bitcoin network hosts almost a trillion dollars of value, in the form of divisible bitcoins, which play the role of digital gold. However, the Bitcoin network does not currently host “smart contract” software of the kind introduced by Ethereum six and a half years after the launch of Bitcoin. Smart contracts are a new kind of software that is unstoppable and tamperproof, which is guaranteed to run on the blockchain exactly as written and remain secure without the protection of a firewall, can process value in the form of tokens and can even run autonomously without a human or organization controlling them. They allow blockchains to be applied as a new kind of general-purpose platform and have facilitated the DeFi (decentralized finance) revolution that Ethereum pioneered. If Bitcoin gained smart contracts, developers would become able to build all manner of exciting new systems and services that process bitcoins and run from the blockchain, creating immense new value while also adding value to Bitcoin.

The enormous financial value carried by bitcoins has great utility, and so the current practice is to transport bitcoins onto blockchains supporting smart contracts such as Ethereum by “wrapping” them, which is unfortunately very dangerous. It involves bitcoins being sent to an organization running what is known as a “bridge”, which keeps them in its custody and then issues “wrapped bitcoin” on the destination blockchain, which can then be processed by smart contracts. The drawback of this approach is that the bitcoins are passed into the custody of the bridge operators, which must be trusted to correctly redeem the wrapped bitcoins when required later. This is antithetical to the blockchain mission, which aims to remove the need for trust. The approach is consequently highly risky, as demonstrated by the recent hack of the Poly Network bridge on 10 August 2021. This bridge moved bitcoins and other tokens between the Ethereum, Polygon MATIC and Binance Chain networks, and when it was compromised crypto worth six hundred million dollars was stolen (it was later returned by the hacker).

Enter the revolutionary “chain key cryptography” that powers the Internet Computer network. This will enable smart contracts hosted by the Internet Computer to directly maintain, send and receive bitcoins, which actually reside and immediately move on the real Bitcoin network, obviating the need for dangerous bridges and token wrapping. This is possible because the Internet Computer protocol can securely and seamlessly generate the private key ECDSA signatures involved in bitcoin transactions on behalf of smart contracts, using chain key cryptography. Meanwhile, Internet Computer nodes will directly communicate with Bitcoin network nodes, ensuring that transactions and balance information is moved back and forth and is always available. Effectively, the scheme will meld the two networks, extending Bitcoin with arguably the world’s most powerful smart contract capabilities.

Q: Once the smart contract capabilities are implemented, what are the potential use cases that will benefit people using these Internet Computer smart contracts with Bitcoin?

Dom: The possibilities are endless. The Internet Computer scales, and can run unbounded volumes of smart contract computation at web speed. Its smart contracts are also the first to be able to securely serve web content directly to end-users without intermediaries, with support for the new Internet Identity anonymizing blockchain authentication system allowing users to sign-on to dapps (decentralized applications) using devices including fingerprint sensors on laptops, and face ID systems,  as well as hardware keys and wallets such as YubiKey and Ledger. This means that in the future, your Bitcoin wallet might be securely served into your web browser and that you will be able to quickly, securely and conveniently authenticate yourself using your fingerprint sensor, before sending bitcoin to any address you like via the user interface. What is more, the Internet Computer is allowing social media services to be built that run from the blockchain, which can then be blended with DeFi. In the future, your Bitcoin wallet might very well be a blockchain chat app, and you might send bitcoin with messages, or atomically transact for an NFT after negotiations. For many, this will begin to realize the vision of bitcoin being applied within internet services that Satoshi originally described.

Q: Can the same process that will enable smart contracts on Internet Computer to be compatible with Bitcoin be implemented into other networks? If so, which could be the next cryptocurrency to be integrated and why?

Dom: It is possible to integrate the Internet Computer blockchain with Bitcoin because of the new “chain key cryptography” framework that powers its protocols. This enables it to create transactions on behalf of smart contracts, such that they do not need to manage private key materials themselves. Once Bitcoin has been integrated, the same work will be leveraged to directly integrate the Internet Computer with Ethereum. This integration will enable two-way calling between smart contracts on the Internet Computer and Ethereum, enabling, for example, Ethereum DeFi dapps to serve their websites from blockchain rather than centralized cloud services such as Amazon Web Services.

Implementing a blockchain that supports chain key cryptography requires a multi-year R&D effort spearheaded by a strong team of specialist cryptographers. For such reasons, it is unlikely that any other blockchain will be able to pull off the same feat in the foreseeable future.

Q: How do you envision the future of the crypto industry, as one where an “Ethereum Killer” has defeated its competition or one where there are multiple blockchains operating to the benefit of their users? Do you think it’s important for Bitcoin, Internet Computer, and others to be interoperable?

We believe in a blockchain trinity consisting of Bitcoin, Ethereum and the Internet Computer. They all clearly satisfy different niches and complement each other. Although both Ethereum and the Internet Computer support smart contracts, the capabilities provided by the Internet Computer environment are vastly different and much broader. Arguably, Ethereum might become the world’s DeFi settlement layer, and will cede the “world computer” vision to the Internet Computer, which was built specifically to realize that vision through many long years of R&D that cannot easily be replicated.

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Source: https://www.newsbtc.com/interview/smart-contracts-running-on-bitcoin-internet-computer-founder-explains-how-its-possible/

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Fantasy Sports And NFT Gaming Platform – DeFi 11 – Announces Public Launch

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As Bitcoin and Ethereum continue to trade laterally, many altcoins mirrored the same price patterns over the last 24 hours. The likes of TRON, EOS and Bitcoin Cash have all flashed signs of consolidation with minor losses.

TRON lost 1.7% and experienced a sell-off in the market. EOS also recorded a loss of 0.8% and was inching near its immediate support level of $5.20. Bitcoin Cash, on the other hand, recorded no loss but was seen trading sideways with chances of a price reversal, as parameters pointed towards a positive price action. 

Tron (TRX)

Tron, EOS and Bitcoin Cash Price Analysis: 19 September

TRX/USD, TradingView

TRON was consolidating on its charts after recording minor losses of 1.7% over the last 24 hours. The altcoin was trading at $0.105 and it just broke below its support level of $0.106. At the current price level, TRON was trading closer to its one-week low price level.

The nearest support line for TRON lay at $0.095. The additional support lines stood at $0.088 and $0.081 respectively. On the four-hour chart, the altcoin’s prices stood below its 20-SMA line, suggesting that the price momentum was in the favour of sellers. 

In accordance with the aforementioned statement about selling pressure increasing in the market, the Relative Strength Index was noted below the half-line in the bearish zone. MACD displayed red bars on its histogram. Capital inflows had also declined as the Chaikin Money Flow stood below the midline, a level it last hovered almost 3 weeks back. 

On the upside TRON’s resistance mark awaited at $0.112 and then at its multi-month high of $0.120. In recent news, TRX and BitTorrent have reportedly announced the launch of BitTorrent chain (BTTC). 

EOS

Tron, EOS and Bitcoin Cash Price Analysis: 19 September

EOS/USD, TradingView

EOS lost 0.8% over the past day and was trading at $5.24. At its current price level the altcoin revisited its three-week price level. EOS was inching towards its nearest support level of $5.20. With a further dip, the altcoin might fall and trade near its $4.53 support line.

On the four-hour chart, the price of the token was seen above the 20-SMA line despite recording a minor decline in the last 24 hours. The 20-SMA reading suggested that the momentum  was still inclined to favour the buyers in the market, however if EOS continues to decline, the prices can fall below the 20-SMA line.

MACD flagged a bearish crossover and displayed the onset of a red histogram. The Relative Strength Index was in the bullish zone above the 50-mark, although it threatened to fall below the half-line over the upcoming trading sessions. Similarly Chaikin Money Flow remained in the bullish territory as capital inflows still preceded capital outflows.

In the event of a revival in buying pressure the altcoin might revisit the $5.60 resistance mark and then attempt to retest its multi-month high of $6.35. 

Bitcoin Cash (BCH)

Tron, EOS and Bitcoin Cash Price Analysis: 19 September

BCH/USD, TradingView

Following broader market price sentiments, Bitcoin Cash was also consolidating and was trading at $636.57. Its immediate support line was at $608.74, which also marked the coin’s four-week low price level. If BCH continues to consolidate over the upcoming trading sessions, it may dip below the $608.74 support line and trade near the price mark of $524.73, which the coin last touched almost over a month ago. 

Key technicals however pointed towards the onset of a positive price action in the market. MACD underwent a bullish crossover and demonstrated green bars on its histogram. The Relative Strength Index rose above the 50-mark after the coin had experienced a sell-off suggesting that buying pressure recovered in the market. 

Bollinger Bands was heavily constricted indicating the price volatility would remain extremely low in the future trading sessions. If BCH manages to break on the upside, the first resistance mark lay at its one-week high of $672.68 and then at $705.02 respectively.

On successfully trading above the $705.02 price mark, BCH can revisit its multi-month high of $789.57. In recent developmental news, Bitcoin Cash was announced to be accepted as a payment method by AMC theatres.

Where to Invest?

Subscribe to our newsletter

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.

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Source: https://ambcrypto.com/tron-eos-bitcoin-cash-price-analysis-19-september

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
Click here to access.

Source: https://coingenius.news/fantasy-sports-and-nft-gaming-platform-defi-11-announces-public-launch/?utm_source=rss&utm_medium=rss&utm_campaign=fantasy-sports-and-nft-gaming-platform-defi-11-announces-public-launch

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