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Bitcoin [BTC/USD] Enjoys Greener Pastures as Bulls Lift the Price; $12k Break Seen as Start for Something Bigger

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Bitcoin’s price volatility has been the talk of the town with the world’s largest cryptocurrency crossing the $12,000 this week. The massive increase and the green lit 7-day moving average was also a positive sign for investors to jump on the bandwagon and watch for price plateaus that may occur soon.

At press time, Bitcoin was trading for $11,313 with a total market cap of $208.75 billion. This price hike has generated a lot of buzz in the cryptocurrency industry with several people claiming that the next bull run was upon us. Bitcoin’s 24-hour trading volume also enjoyed a bump, clocking in at $21.37 billion.

The $12,000 climb triggered rapid buy-ins into the Bitcoin market with new members joining the ecosystem. The price mark was also one of the highest in over a year which added to the joy in the Bitcoin market. Some people claim that the hike was a correction with the upside potential limited over the next week or two.

bitcoin market
(Source:coinbase)

Craig Erlam, a senior market analyst at Oanda touched on the ramifications of the climb and how it would change the Bitcoin ecosystem for future trades. Mr. Erlam said:

“The volatility we’ve seen the last couple of weeks is just a reminder of what this asset class is capable of. It’s still a relatively immature instrument and flash moves shouldn’t surprise us. The important thing, however, is that it has broken above $10,000 and a weaker dollar could be aiding it. This could leave it open to further gains and surges in volatility in the months ahead.”

A technical analysis of Bitcoin reveals a volatile price action that may be beneficial to long time customers. The MACD indicator was on the upside with the signal line and the MACD lines moving parallel to each other. According to the charts, the MACD histogram was lit up green which meant that the bull could be here to stay for a couple more days.

Bitcoin’s Relative Strength Index had broken the overbought barrier and settled into the graph a few days later. The hold near the top of the graph showed a clear indication of more people buying into the Bitcoin ecosystem because of a sentiment change. If the RSI continues to stay this healthy, Bitcoin could enjoy a decent run all through August.

Twitter Hack That Saw Accounts of Gates, Musk, Obama Compromised Finally Has Few Suspects; Main Accused Pleads Not Guilty

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The cryptocurrency market is no stranger to the controversies over a series of hacks and scams that have dominated the front pages for a long time. Some of the most recent attacks involving cryptocurrencies occurred a few weeks ago when major personalities’ Twitter accounts were hacked to scam people off their bitcoin holdings.

 The hacked Twitter accounts belonged to bigwigs like Barack Obama, Democratic Presidential nominee Joe Biden, Tesla CEO Elon Musk and Microsoft founder Bill Gates. After a massive investigation conducted by law enforcement agencies, a couple of suspects were rounded up in connection with the hack, all of whom have pleaded not guilty. 

One of the main suspects in the case was Graham Clark, a 17-year-old Florida resident who has vehemently plead not guilty in front of the city judge. Clark informed Circuit Court judge Christopher NMash that he was not guilty of the 30 felony charges leveled against him. Graham Clark is set to appear in court again today, where he will appeal to amend his $750,000 bail bond and release clauses. Clark’s lawyer, David Weisbrod is yet to divulge any information on how they will deal with the situation during the next hearing.

The hack took over multiple celebrity accounts and tweeted misinformation claiming that if their follower sent them Bitcoin, they would be doubled and sent back. By the time Twitter caught the rampant attack on the accounts, the hackers had already made off with more than $100,000. Clark was not the only person embroiled in the hack as he was also joined by two other individuals.

Mason Sheppard, a 19-year-old from Bognor Regis, Britain worked under the pseudonym Chaewom and has been charged with multiple counts of wire fraud and money laundering. It is not yet confirmed how Sheppard is related to Clark but investigations have revealed a money trail back to Sheppard. The third accused in the case was Orlando based Nima Fazeli. The 22-year-old goes by the nickname of Rolex and has been charged for being an accessory to the crimes.

Details of the final sentencing and fines will only be given out after the hearings on Wednesday and the coming days. Twitter claimed that the hackers used a method known as ‘social engineering’, which allowed them to access vulnerable information. Sources stated that Clark and his associates convinced Twitter support that they were IT officials who needed customer credentials to conduct routine checks.

CryptoLocally Delivers to its Customer Base by Adding Credit Payments for Cryptocurrency Transactions

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Cryptocurrency organizations now have a new goal of rope more customers: to make the entire transaction process more seamless and attractive. This mantra has led to a number of innovations and developments that would otherwise have been unseen to the industry. Keeping this shift in sentiment in mind, popular cryptocurrency exchange platform CryptoLocally has introduced credit card payments for ease of cryptocurrency transactions. Using the latest feature, customers will be able to make the transition from Fiat to crypto in a matter of minutes.

The cryptocurrency exchange platform CryptoLocally announced that customers will be able to buy Bitcoin, Binance Coin, Tron, EOS and ETH instantly using a credit card. Safety and security are also a high priority for the organization with the automatic implementation of KYC for credit card users. The credit card launch comes on the back of several partnerships conducted by CryptoLocally, mainly with organizations like Skrill, Western Union, Paytm and Google Pay.

Over the past couple of weeks, The cryptocurrency exchange platform CryptoLocally has been busy with adding additional players to its roster. Towards the end of July, CryptoLocally listed its first Ethereum based digital assets on the platform. These included Ethereum [ETH], Tether [USDT] and DAI. The additions were part of the organization’s efforts to give customers the best trading experience while balancing the cost of functioning.

With the new Instant Buy feature,  The cryptocurrency exchange platform CryptoLocally aims to traverse the rapidly growing industry of quick crypto payments. Instant Buy is also set to enable users to conduct more transactions on the platform and take the cryptoverse into the mainstream realm. CryptoLocally also released a blog post to make it easier for users to understand the workings of the credit card linkup. According to the company’s release, the first step includes:

” …click “Buy” on the navigation bar at the top left. Then, click the “Instant Buy” button to purchase crypto with your Credit card. If you want to see offers only for credit card transactions, the Select Payment Methodfilter can help.”

Customers will be presented with the multiple cryptocurrency option on the next page with the drop-down menu displaying BTC, ETH, TRX, BNB and EOS. The company has set the minimum amount for the transaction at $60. Once a customer decides the required amount of purchase, all they need to do is type in their credit card details.

After processing, the customer will be asked to provide his/her wallet address to which they ant the funds to be transferred to. The KYC process becomes imperative here with CryptoLocally conducting the process by taking a photo of the customer’s face and an official document confirming the same. , The cryptocurrency exchange platform CryptoLocally has assured users that they will do everything in their power to maintain a high standard while allowing them to carry out safe and quick transactions.

Cityuptake Sets Eyes on Transparent Reward Structure for CU as Benefits of Tron Ecosystem Get Exemplified

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The cryptocurrency market has always provided a competitive playing field to get the best out of organizations and their developments. This sentiment has also seeped into the world of tokenization as well, where individual tokens regard their pricing as the most important factor.

Cityuptake has been one of the few companies providing a consistent token foundation for its users as users of the CU token have always held it in high regard. Established in 2018, Cityuptake has come a long way in setting up a token ecosystem that can be seamlessly utilized for trading and procuring goods.

Staying on the Tron ecosystem, Cityuptake has managed to garner a massive following with users thronging its folds to be part of a legitimate trading ecosystem. One of the biggest highlights of Cityuptake and the CU token is its popular reward system. Coupled with the balance of risk and reward, users are given a myriad of options to invest their hard-earned capital. 

To put things into perspective, each CU token is equivalent to 1.35 TRX where 1 TRX gets an allocation to the Tron Super Representative portfolio. Cityuptake keeps a keen eye on building the community as a whole, hence, 0.25 TRX gets allocated to the CU trade desk while 0.1 is set aside as project fees. While this distribution is seen as a step in the right direction by the company, some users claim that it might have an adverse effect on the pricing of the token. 

One of the biggest challenges that the Cityuptake faces is the sentiment surrounding the reward model. A lot of users miss out on the fact that the CU token holds a constant value at 1.35 TRX at a time when other linked tokens fluctuate depending on the cryptocurrency market. A recent analysis of the trading market showed that the CU token was outperforming its peers left, right and centre. 

A weekly analysis of CU and its compatriots shows a clear distinction in performance. CU’s trading volume has seen such a resounding spike that it has overtaken its closest compatriots such as ZLF and NOLE. On July 25, CU held a trading volume of a whopping 147,000 which indicated a renewed trust in the token’s capabilities. Users will be able to redeem their CU for TRX as and when they please. To complete the holding CU will be available on the Nolex exchange for ease of procurement. 

Sources from within Cityuptake told TWJ that the CU token has maintained a stable peer to peer resell value of between 1-1.35 TRX since its inception. To ensure that customers are provided with the best experience, Cityuptake strives to establish an upper and lower limit so that the 1.35 TRX conversion rate is achieved.

The 1:1 link between CU and TRX tokens is the core reason for the token price staying stable in the midst of several changes. Cityuptake entrusts its agents to enable users when they enter the field, a relationship that has enormously helped the company. Holders can obtain CU tokens at 1.35 TRX from these agents which keeps the token price at a standard rate. 

The lack of risk associated with trading CU tokens makes it a wonderful opportunity for new investors to enter the cryptocurrency industry. By integrating a reward process that is both transparent and beneficial, Cityuptake is on its way to becoming the gateway for many users in the Tron ecosystem. 

 

Whale Alert Notices Millions Worth of Bitcoin Being Transferred to Unknown Wallets; Assets Linked to 2016 Bitfinex Hack

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Hacks in the cryptocurrency industry have always taken centre stage, acting as a major hurdle for the field. Incessant scams have also been the reason for the exclusion of mainstream companies in the world of digital assets.

The 2016 Bitfinex hack was one of the most controversial hacks in the history of the industry, resulting in millions of dollars worth of crypto being stolen. After years of there being no trace of the stolen assets, Whale Alert recently detected movement of the massive amounts of Bitcoin in unknown factors. 

Four years back, hackers had made away with $72 million worth of Bitcoin with Bitfinex assuring users that they would be reimbursed. To aid in this process, Bitfinex had actually created a native token called BX, the last of which was bought back in April 2017. Genuine members of the community have been trying to track the stolen assets and finally succeeded this week. 

On June 27, holders on the blockchain noticed that large chunks of Bitcoin were being moved consistently. Whale Alert noticed a total of nine transfers on the Bitcoin blockchain, all of which were related to assets from the Bitfinex hack. The transfers occurred in batches of four transfers followed by another set of five transfers.

The first transfer involved 174.4 BTC worth $1.8 million being moved to an unknown wallet with an address of 3HC1QJpsNjRsqEiD5XWFUr5R4zrhmwZTUR. This was followed by transfers of 86.26 BTC, 183.5 BTC, 87.67 BTC, 473.32 BTC, 448.782 BTC, 476.32 BTC, 320.3 BTC and 299.99 BTC. 

All the aforementioned transactions came on the back of another set of transactions that occurred on June 10. Last month, the Bitcoin blockchain witnessed 20 transactions where the transfer amounts ranged from, $149,000 to $300,000. Authorities are still trying to track down the actual perpetrators of the hack after spotting the recent $27.8 million move. 

CryptoLocally Adds Ethereum Tokens-ETH, DAI, USDT in a Bid to Establish Mainstream Trading

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Developments in the cryptocurrency industry have always managed to catch the eyes of users and investors alike with many going further on the promise. Cryptocurrency organizations have made it a point to listen to the community and implement what they require to gain a large user base.

Just recently, CryptoLocally, the popular peer to peer trading platform announced that it will be listing Ethereum based virtual assets to its platform. The new assets will include tokens such as Ether [ETH], Tether [USDT] and DAI.

According to CryptoLocally, the company wants to provide customers with the best experience so that they are able to trade any of the cryptocurrencies they hold seamlessly. The addition of Ethereum based tokens becomes relevant because of the blockchain’s impact on various dapps and DeFi applications. CryptoLocally further aims to establish itself in the Ethereum space before the launch of Ethereum’s next iteration, Ethereum 2.0.

CryptoLocally users have stated time and again that the learning curve to use the platform is gradual with a touch of inclusivity. Market research has shown that CryptoLocally offers one of the fastest and easiest onboarding processes in the industry. The first step that users need to take is to hold a valid email address after which they have to complete a Know Your Customer [KYC] process. An exclusive release by the company added:

“Trading Ethereum-based digital assets will follow the same simple and easy trading process that the CryptoLocally is known for. Existing users will just have to select the desired ERC-20 cryptocurrency they wanted to trade. Like all the digital assets traded in the platform, ETH, USDT, and DAI are all protected by a blockchain-based escrow service that protects transactions all throughout the entire trading process.”

With the new additions, users will be able to meet in person, send a bank transfer, or use a myriad of payment processors to complete the payment process. The underlying CryptoLocally revolutionary smart contract escrow system is one of the main reasons for this to be possible. The USDT, Ethereum, and DAI will be protected by the escrow system, enabling users to conduct multiple transactions on the fly.

Developments such as the one made by CryptoLocally pave the way for altcoins to make a bigger mark in the cryptocurrency industry. At the time of the press, Ethereum was trading for $264.09 with a total market cap of $219.54 billion. A daily rise of 8.65 percent in value also raised the 24-hour trading volume to $8.49 billion.

Mastercard Partners with Wirex to Take the Cryptocurrency Industry up to the Next Level

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The cryptocurrency market is maturing at a faster rate than thought before and investors are loving it. As the days progress, more and more mainstream players are entering the field which makes it even more important for developments to take place at a faster rate.

Mastercard was the latest mainstream player to make a mark in the virtual asset world after its recent tie-up with the London-based financial firm Wirex. Mastercard ‘s move is a step in the right direction for the industry that has been trying to get out of the shell.

With Mastercard’s latest offering, it has become clear that there is a pressing need for a legitimate platform for cryptocurrency transactions. Officials close to Wirex also said that they would become the first native cryptocurrency platform to gain principal membership on Mastercard. Raj Dhamodharan, Mastercard’s executive vice president for digital asset and blockchain products and partnerships said:

“The cryptocurrency market continues to mature, and Mastercard is driving it forward, creating safe and secure experiences for consumers and businesses in today’s digital economy. Our work with Wirex and the wider crypto ecosystem is accelerating innovation and empowering consumers with more choice in the way they pay.”

Now that Wirex can directly issue cards on the Mastercard platform, customers will have the added advantage of using Mastercard’s privacy and security features. At the same time, Mastercard will also bring more cryptocurrency firms into its Mastercard Accelerate start-up initiative.

While Mastercard certainly has an elevated playing field in the financial world, it is certainly not the first to enter space. Last year, Brian Armstrong, led by Coinbase, launched his own crypto card in partnership with Visa, the rival of Mastercard. Following this development, Coinbase went on to become a principal member of Visa.  Principal membership allows a partner to make use of more features within the card as well as penetrate into new markets.

Market analysts have refrained from calling the Mastercard update a watershed moment because of how the industry as a whole has grown. Looking at the changes over the last few months, it has become evident that there has been an increasing demand not only from an investor point of view but also from a regulatory standpoint. This will be Mastercard’s first major cryptocurrency venture following its association with the Facebook Libra project in 2019.

Monero Cryptocurrency, Tron Create Waves on Cryptocurrency Charts as Bitcoin Begins to Lose sheen

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The past week has been quite tumultuous for the cryptocurrency market with the focus shifting onto the industry from the mainstream spectrum. After a massive Twitter security breach asked users to donate Bitcoin to see their funds double, all eyes have been on the cryptocurrency’s price.

While the  Bitcoin’s price actually dipped, other altcoins witnessed significant changes in their price points, with Tron and Monero cryptocurrency acting as prime examples. Over the last 24 hours, the altcoins have undergone some bearish changes that would set the tone for growth next week.

 Monero cryptocurrency

Monero cryptocurrency, the privacy-oriented cryptocurrency had dropped a couple of positions on the charts and traded from the 15th place. At the time of writing, Monero cryptocurrency was worth $67.91 with a total market cap of $1.197 billion. A 3.38 percent price fall in the last 24-hours caused the daily trading volume to clock in at $81.984 million.

While the  Bitcoin's price actually dipped, other altcoins witnessed significant changes in their price points, with Tron and Monero acting as prime examples. Over the last 24 hours, the altcoins have undergone some bearish changes that would set the tone for growth next week.

The Parabolic SAR for Monero cryptocurrency was below the price candles which meant that the cryptocurrency was heading into a bullish realm. This was a complete trend reversal from June when the PSAR markers stayed above the candles. The Chaikin Money Flow indicator had climbed above the zero line, a sign that the capital coming into the Monero cryptocurrency market was much higher than that leaving it.

Tron

Next on the list of influential altcoin performers was Tron, as the Jcryptocurrencys struggled to bear the backlash from founder Justin Sun’s Twitter account hack. Despite the negative news, Tron had only lost 0.56 percent over the previous day to trade at $0.017. Tron’s market cap was $1.143 billion while the 24-hour market volume maintained a healthy $391.53 million.

trxusd 1

Just like Monero cryptocurrency, Tron’s CMF had also risen above the zero line., As the company announces more and more developments, the capital coming into the Tron market is only going to increase. The Parabolic SAR for TRX also sided with the bull as the markers stayed below the price candles. It is quite heartening to see a change in the way people perceive altcoins as evidenced by the growing interest around the field.

Chainlink [LINK] and Cardano [ADA] Enjoy Greener Pastures as altcoins show how its done

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July has been a consistent week for the cryptocurrency industry as several of the major tokens maintained their price support. Even though users expected resurgent movements, they were forced to be content with a minute increase in market cap and volume.

On Monday, users expected bigwigs like Bitcoin, Ethereum and XRP to gain but it was the altcoin gang that stood the test of the bear. An analysis of the cryptocurrency charts showed that IOHK’s Cardano and LINK were one of the best performers at the start of the new week.

As the altcoins resurgence began, Cardano led the charge as the sixth-ranked cryptocurrency saw a 6.6 percent value increase over the previous 24-hours. This spike was an added boost to the cryptocurrency’s surge, which had gained by a mammoth 34 percent in the last week. At press time, ADA was trading for $0.13 with a total market cap of $3.43 billion. The bull run also lifted the daily trading volume to $473.76 million.

ADA

Cardano’s Relative Strength Index had broken above the overbought zone, making it a profitable buy-in sector for investors. This was also a sign that there was a reversal in the negative sentiment associated with purchasing ADA tokens. The Chaikin Money Flow indicator was also positive for Cardano as the graph was much higher than the zero line.

Despite its reputation of being low-lying, Chainlink was the best performer in the top 10 club. The tenth-placed cryptocurrency was well above the pack with a daily growth rate of $24.5 percent. Chainlink was also the biggest weekly grainer with a stellar 62 percent spike in the last seven days. At the time of writing, LINK was trading for an increased $7.75 while holding a market cap of $2.7 billion. The daily volume had clinched a better spot with a value of $1.612 billion.

Chainlink

Chainlink’s CMF was well above the zero line as the capital coming into the market overtook the capital leaving the market. At the same time, the Relative Strength Index followed a similar path to that of Cardano’s, breaking above the overbought threshold zone. The week has started off well for the altcoins giants and it is safe to assume that there will be a slight flattening soon.

1cent.io: A Casual Betting Experience With Lots of Treats for it’s Users!

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1CENT is a decentralized dapp platform, with team members from all around the world. With a wealth of experience in game and platform development, the 1CENT team has been able to revolutionize what dapps can do for the wider community. Our 3 core principles are transparency, fairness, and wealth distribution. We strive to become the industry leader in Dapp development, revolutionizing a new model to benefit all stakeholders. 1CENT is mainly based on the development of TRON’s main net, and will later expand to other blockchains. At the same time, 1CENT will cooperate with other developers to enrich the platform as a whole.

At 1CENT we aim to serve our users in the best way possible. By creating a casual betting experience with awesome game modes and lots of rewards for our users 1cent.io is an amazing platform to bet your TRX on!

Our Game Modes

We currently have 3 game modes on our platform: Fireball, Ghost Leg and Dice. We’ll be adding many more in the future.
Fireball: This is a very old school crash game mode where the user has to predict where the fireball will crash. The higher it goes, the higher your bet multiplier will be!

Ghost Leg: In ghost leg there will be a line coming from either left or right to cross towards the odd/even finish line! It’s up to the user to guess how it will reach the odd/even finish line. 

Dice: Our unique dice animation makes playing dice more enjoyable than ever before! Guess what number the dice will roll and win!

Our Rewards System

We love treating our users very well! We’ve built an amazing rewards system to make your experience on 1cent.io even better! 

Wager Challenge: We have daily TRX races! Earn prizes based on your wagered amount. The more you wager, the more TRX you can win! There’s a daily prize pool based on 30% of the casino profits in the previous day. The prize pool gets split amongst the top 6 users! 

Daily missions: Every day there are a few daily missions for you to complete in order to receive some of our special tokens: CNT. Our tokens CNT can be exchanged on the rewards page for USDT!
Keep an eye on our page to find out more about it.

Clans

At 1cent.io we also allow our users to group up in clans! It’s currently in beta release. We will be updating lots of stuff to the clans in the near future and making it a big clash between the clans to win some awesome prizes.

Is your platform fair?

Yes! Our platform stands for casual and fair betting. All 1cent transactions are executed through our smart contracts on the TRON network. This ensures that all data is fair even allowing users to change the speed they want to use. If the seed is not changed, then a random seed will be generated to ensure the fairness of our game modes.

What plans do you guys have for the future?

To say the least…1CENT users will be in for a treat. In the near future we’ll be supporting more cryptocurrencies on our dapp as well as adding many more game modes & rewards. We’ll also be running a lot of promotions for our users in our Telegram group and our social media pages!