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Samsung May Have Appointed New Blockchain Leadership

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Although the company made no official announcement, South Korean tech conglomerate Samsung Electronics seems to have been appointed a new Vice President in its AI PM Group / Blockchain Dev Group.

Woong Ah-yoon, a former chief architect of Blockchain Solutions for Healthcare and Life Sciences at IBM, recently updated his LinkedIn profile with the new role. However, according to the information provided, he has been reportedly holding the position since January 2020.

According to the local media Fn News, Woong will expand and reorganize the Blockchain Task Force division of Samsung, which currently operates as a temporary organization within the wireless division of the tech titan.

Previous experience in IBM’s healthcare blockchain-based solutions

Ah-yoon will be in charge of overseeing blockchain development and business under a brand-new blockchain-related vision of Samsung.

Woong’s appointment may be due to his previous experience with IBM’s healthcare division. Fn News believes the new vice president could strengthen one of the three primary services of the Samsung Galaxy smartphone — Samsung Health.

There are unconfirmed rumors that Woong could be leading the strengthening of Samsung’s blockchain-based health management service, Limbo, as well. Limbo rewards users after completing a walking or running mission every day.

However, when the local media reached out Samsung for official statements regarding the new blockchain leadership, they provided the following comment:

“We can’t confirm information related to the internal organization and human resources.”

Latest blockchain’s moves by the tech titan

Samsung Electronics has been showing signs of wanting to strengthen their blockchain development and diversify its products by improving the crypto-friendly environment within their services.

Cointelegraph reported on March 26 that the tech giant had created a new standalone turnkey security chip that secures cryptocurrency transactions on smartphones and tablets.

In February, Samsung unveiled its latest smartphones series, the Galaxy S20, which improved on the integrated blockchain security features introduced in 2019.

Source: https://cointelegraph.com/news/samsung-may-have-appointed-new-blockchain-leadership

Blockchain

Ripple Price Analysis: Things Looking Grim for XRP as Bears Attempt To Push Below 1900 SAT

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  • XRP has moved sideways over the last few days as the bulls battle to defend $0.175.
  • A break beneath $0.175 could result in XRP unwinding toward $0.15.
  • Against Bitcoin, XRP continues to make lower lows as the sellers flirt with breaking beneath 1900 SAT.

Key Support & Resistance Levels

XRP/USD:
Support: $0.175, $0.171, $0.157.
Resistance: $0.185, $0.192, $0.20.
XRP/BTC:
Support: 1900 SAT, 1890 SAT, 1873 SAT
Resistance: 1950 SAT, 2000 SAT, 2070 SAT.

XRP/USD: Bulls Continue Defence of .5 Fib Retracement

After falling beneath the descending triangle pattern last week, XRP has continuously dropped lower until the support was found at $0.175 (.5 Fib Retracement). The price has spiked beneath this support, but the buyers managed to keep it above $0.175 for the closing price of each day.

A break beneath the support at $0.175 would create a fresh 3-month low price for XRP and would likely cause it to unwind toward $0.15.

cc-xrpusd-jul2
XRP/USD. Source: TradingView

XRP-USD Short Term Price Prediction

Looking ahead, if the bulls can defend $0.175 and rebound from here, the first level of resistance lies at $0.185. Above this, added resistance is located at $0.192 and $0.20 (100-day EMA).

On the other side, if the sellers break beneath $0.175, the first level of support lies at $0.171. Below this, added support is found at $0.157 (.618 Fib Retracement) and $0.15.

The RSI is well beneath the 50 line as the bears dominate the market momentum. For a sign of XRP recovering, look for the RSI to start to rise toward the 50 line to indicate decreasing bearish momentum.

XRP/BTC: XRP Set To Push Beneath 1900 SAT

Against Bitcoin, XRP continues to create fresh lows as the sellers attempt to push the market beneath the 1900 SAT support. It has been falling continuously against BTC over the past three months and has dropped by a total of 33% during the period.

A break beneath 1900 SAT would shift the sentiment into an extremely bearish outlook for XRP as fresh multi-year lows will be created.

cc-xrpbtc-jul2
XRP/BTC. Source: TradingView

XRP-BTC Short Term Price Prediction

If the sellers do push beneath 1900 SAT, the first level of support lies at 1890 SAT. After that, added support is found at 1873 SAT and 1834 SAT.

On the other side, the first level of resistance lies at 1950 SAT. Above this, added resistance is found at 2000 SAT and 2070 SAT.

The RIS is in oversold conditions as the bears dominate the market momentum. However, the Stochastic RSI is primed for a bullish crossover signal that would send the market higher.

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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.


Source: https://cryptopotato.com/ripple-price-analysis-things-looking-grim-for-xrp-as-bears-attempt-to-push-below-1900-sat/

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Fundamentally Strong: Bitcoin Hit These Highs Today Despite Stagnant Price Action

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The last few weeks were quite stagnant for Bitcoin in terms of price movement, considering the cryptocurrency is famed for its price action. However, while BTC price is looking pretty unexciting in recent times, Bitcoin is fundamentally strong as the network activities continue to record new highs.

Positive On-Chain Market Activities

According to insight first shared by Glassnode CTO Rafael Schultze-Kraft, on-chain market metrics including transaction counts, new addresses, active addresses, and spent outputs had positive performances yesterday.

The number of daily new addresses reached a 2-year high of 560k. The last time a similar figure was recorded was during the bull run in late 2017 and early 2018. During that period, the number of new addresses created daily was between 800k and 600k. Since then, the number has never surpassed 550k until July 1, 2020, data on Glassnode reveals.

new_addresses
New Bitcoin Addresses. Source: Glassnode

The total number of addresses on the network is now above 670 million. However, there are only 2,135 whale addresses with a balance of at least 1,000 BTC and less than 110 addresses with at least 10,000 BTC.

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Glassnode further revealed that the daily active addresses saw a spike and reached above the 1.08 million mark for the first time since January 2018 when the total recorded was 1.24 million. Active addresses are unique addresses on the network that either send or receive coins.

active_addresses
Active Bitcoin Addresses. Source: Glassnode

The surge in the number of new and active addresses caused led to an increase in hourly on-chain transactions. The daily transaction count is now at 382k. The last time Bitcoin’s daily transaction count was this high was about ten months ago. Also, the number of hourly spent outputs with a lifespan of 24 hours is at its highest level.

Hash Rate Recovering Well

Despite the recent halving, the amount of transactions processed per second has reached a one-year high. Following the third halving event, the transaction rate dropped to as low as 2.48 transactions per second. However, on July 1, the transaction rate was at 4.42 transactions per second.

The network’s computing power has also recovered from the post-halving crash. On May 15, just a few days after the halving event, Bitcoin’s hash rate recorded a massive 32% drop to 91.265 TH/s. However, as of July 1, the hash rate was solidly above 125 TH/s, making the network more secure.

Meanwhile, Bitcoin is currently hovering around $9,200, with a total market cap of $170 billion.

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Source: https://cryptopotato.com/fundamentally-strong-bitcoin-hit-these-highs-today-despite-stagnant-price-action/

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Litecoin Price Analysis: Holding Above 36.8 Level That Can Hold

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LTCUSD is trading above the important 36.8 level where it has some strong support and where it bounced already several times in the last days and weeks, therefore, this is primary support that can hold.  LTCUSD is trading below the 200 and 100-EMA which makes it currently more bearish but the fact that there is much room to go and test the EMAs makes it an interesting conclusion that can confirm further.

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LTCUSD Price Analysis Chart

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LTCUSD chart by TradingView

Also LTCUSD is building a donwtrend channel here which can confirm either to the upside or stay more in the
downtrend channel before it confirms to the upside like it is often the case in such a structure.

Above the downtrend channel LTCUSD has the Fibonaccis where the first step is at the 61.8% Fibonacci-mark
it will be good to see how LTCUSD reacts in this mark and if it succeeds to take out this mark which will be bullish.

The RSI is sending some moderate signs which can confirm to the upside and touch the overbought region.
The MACD sending neutral signs at the moment and can confirm to the upside with a bullish cross.

TREND: Stabilized

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FORMATION: Downward channel, Support range, Fibonacci structure

EXPECTATION: Confirmation above the downward channel

FULFILLMENT: Sooner or later

TREND AFTER EXPECTATION: Upside

PREV: 41.175

OPEN: 41.190

VOLUME: 11.305K

DAY’S RANGE: 41.033 — 42.049

Article Name
Litecoin Price Analysis: Holding Above 36.8 Level That Can Hold
Description
LTCUSD is trading above the important 36.8 level where it has some strong support and where it bounced already several times in the last days and weeks, therefore, this is primary support that can hold.  LTCUSD is trading below the 200 and 100-EMA which makes it currently more bearish but the fact that there is much room to go and test the EMAs makes it an interesting conclusion that can confirm further.
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Coingape is committed to following the highest standards of journalism, and therefore, it abides by a strict editorial policy. While CoinGape takes all the measures to ensure that the facts presented in its news articles are accurate.

Disclaimer
The views, opinions, positions or strategies expressed by the authors and those providing comments are theirs alone, and do not necessarily reflect the views, opinions, positions or strategies of CoinGape. Do your market research before investing in cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.

Author: Vince Prince



Vince is an experienced trader, investor and financial analyst within the markets in which he concentrates on the cryptocurrencies and decent opportunities within them to trade in a professional oriented manner. You can follow him at trading view market insight at: https://www.tradingview.com/u/VincePrince/
Or you can join his telegram channel: https://t.me/vinceprince_channel

Source: https://coingape.com/litecoin-price-analysis-holding-above-36-8-level-that-can-hold/

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