Ethereum Classic Name Change Would Get Other Cryptos ‘Rekt,’ Says Dev

Ethereum Classic Labs’ Stevan Lohja says that many top cryptos would be “rekt” by Ethereum Classic (ETC) if it removed “Ethereum” from its name.

In a tweet posted on Aug. 11, Lohja — who works as technology coordinator at Ethereum Classic Labs — wrote:

“Opinion: Many #cryptocurrency in the top market cap would be absolutely #Rekt by #EthereumClassic if we removed #Ethereum from the brand. I know we are original Ethereum project, but maybe this can be water cooler chatter at summit eh?”

Classic X

As Cointelegraph has previously reported, Lohja’s reminder that Ethereum Classic is the original Ethereum project refers to the fact that the coin runs on the original version of the blockchain, before it was hard forked in 2016 in response to the DAO scandal. 

After the hard fork, “Classic” was added to the cryptocurrency’s name to distinguish it from its successor, Ether (ETH).

With Ether currently ranked largest altcoin by market cap, Ethereum Classic lags some way behind in its 21st spot ranking.

Lohja’s suggestion that the coin should dissociate itself completely from the Ethereum project in terms of its branding in order to see market cap gains was met by support by Yaz Khoury, director of the Ethereum Classic non-profit ETC Cooperative, who responded:

“I always advocated changing the currency names. The network name can change organically if we start calling the currency itself something else.”

The ETC Classic Summit — to be held in Vancouver, Canada — is planned for October 3-4.

Names and beyond

Within an emerging sector, the question of names is a matter of heated deliberation as different currencies, assets and tokens attempt to differentiate themselves and vie for adoption.

Even a symbol is perceived to have a significance for a cryptocurrency’s useability: this August, some industry commentators argued that Bitcoin (BTC)’s potential for everyday retail payments would be better served if there were a consensus to formalize the symbol used to denote its smallest unit, the Satoshi — or one hundred millionth of one Bitcoin.

This May, one study appeared to indicate that the readability of a cryptocurrency’s three-letter long ticker symbol positively correlates with higher returns.

Notoriously, there has also been talk of companies allegedly attempting to cash in on the hype by including “Blockchain” or “Bitcoin” in their names. 

With industry classifications still evolving, names for asset types can themselves vary either according to geographical jurisdiction or to their functionality.

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https://cointelegraph.com/news/ethereum-classic-name-change-would-get-other-cryptos-rekt-says-dev


Source: cryptoassethome
Ethereum Classic Name Change Would Get Other Cryptos ‘Rekt,’ Says Dev

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Ethereum Gold Project Price Changed by -20.1 percent

As at 2019-08-17 average Ethereum Gold Project price is 0.00001137 USD, 0.00000000 BTC, 0.00000006 ETH.

Ethereum Gold Project average change within 24 hour is -20.1 against USD, -21.22 against BTC, -19.16 against ETH. Weekly report: 8.99 against USD, 26.64 against BTC, 30.76 against ETH. Monthly report: -8.9 against USD, -13.47 against BTC, 0.5 against ETH.

Ethereum Gold Project ETGP/ETH on Token.Store exchange is 0.00. The trading volume on Token.Store is 16.89.

It’s noteworthy that is issued into circulation Ethereum Gold Project.

In this regard, 24 hour trading volume is 16624.22919112 USD or 1.60912224 BTC. At the same time Ethereum Gold Project market capitalization is 56560 USD or $5 BTC.

Ethereum Gold Project Price Changed by -20.1 percent


Source: cryptoassethome
Ethereum Gold Project Price Changed by -20.1 percent

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What’s next for Ethereum, XRP and Litecoin after the recent plunge ?

Bitcoin is in the spotlight once again after Bakkt was granted the first approval from the CFTC for physically-settled Bitcoin futures. As the pioneer cryptocurrency takes the attention from the market, most of the altcoins have been left behind even plummeting to new yearly lows. The following technical analysis will explore how Ethereum, XRP, and Litecoin could perform in the short term future now that they have recently taken a nosedive.

Ethereum

Ethereum retracted more than 50 percent over the last few weeks to reach a low of $174, for the first time since mid-May. The correction comes after ETH peaked at $366 on June 26. This is the steepest pullback that Ethereum has had since the bull run started in December 15, 2018. As a matter of fact, throughout the year every time this cryptocurrency reached a new yearly high, it retraced 28.40 percent on average.

eth price

By measuring the Fibonacci retracement indicator from the low of $80.70 on December 15 to the high of $366 on June 26, it appears that Ethereum retraced to the 61.8 to 65 percent Fibonacci retracement zone. This Fibonacci retracement area is considered by many traders as the ‘golden’ retracement zone due to the high probability of a rebound.

If Ethereum is indeed likely to rebound from the current price level, it could find resistance on its way up around the 50 and 38.2 percent Fibonacci retracement levels, which are sitting at $223 and $256, respectively. However, a break below the 65 percent Fibonacci retracement level could take it down to $143, where the 78.6 percent Fibonacci retracement level sits at.

eth priceBased on the 1-day chart, Ethereum recently broke out of an ascending triangle. As a result, this cryptocurrency went down to $174 to reach the target given by the bearish formation. Now that the ascending triangle can be considered complete, the TD sequential indicator is giving two different buy signals.

The first one is an aggressive thirteen that formed on August 15. The second one is a red nine candlestick that predicts a one-to-four day upswing or the beginning of a new upward countdown. These bullish signals align with the potential rebound that the Fibonacci retracement indicator presents on the 3-day chart. Therefore, there is a high probability for a rebound that could take Ethereum to the 50 percent Fibonacci retracement level.

ethereum technical analysis

XRP

After going through a consolidation period that lasted more than a month, XRP broke below the $0.30 support level for the first time since October 2018. The result was a 21 percent plunge that took this cryptocurrency to reach a new yearly low of $0.24. This price level represents a pivotal point for XRP’s trend, according to 40-year trading veteran Peter Brandt.

The author of Diary of a Professional Commodity Trader believes that if the $0.24 support level is not able to hold the price of XRP, then this cryptocurrency could be bound for a major drop that takes its market valuation to around $0.021, representing a 90 percent retracement from current levels.

Fundamentally, such a steep decline could occur if the complaint filed against Ripple—arguing that the startup illegally sold unregistered securities—is pursued by the U.S. Securities and Exchange Commission. If the motion is taken into consideration by the regulatory agency, XRP’s market valuation could suffer severe consequences. The recent legal actions taken by the SEC against Veritaseum, which took its price down more than 60 percent within a few hours, could be taken as an example of the impact that such news could pose for XRP.

In the meantime, while the SEC responds to the recent complaint filed against Ripple it will be wiser to remain out of XRP. Based on the 1-week chart, this cryptocurrency could soon drop down to the next level of support that sits around $0.19 if the selling pressure behind it increases.

xrp price

Litecoin

Based on the Fibonacci retracement indicator (which is composed of horizontal lines that refer to areas of support and resistance associated with a percentage based on how much of a prior move the price has retraced) Litecoin spent over a month consolidating between the 38.2 and 50 percent Fibonacci retracement area.

Since the consolidation phase took place after a 48 percent pullback that took this cryptocurrency from $147 to $76, a bear pennant developed on the 3-day chart. This is considered a continuation pattern that leads to a breakout in the same direction as the initial movement. As a result, this bearish formation forecasts a 25 percent drop to around $66, which is taken by measuring the height of the flagpole.

So far, Litecoin dropped 22 percent to reach the 61.8 percent Fibonacci retracement zone, which can be taken as a completion of the bear pennant. Now that LTC is trading around the 61.8 percent Fibonacci retracement level, it could be bound to rebound since this area is considered as the ‘golden’ retracement zone.

If Litecoin indeed rebounds from the current price levels, it could find some level of resistance around $85, which is where the 50 percent Fibonacci retracement zone is at. However, a break below the 61.8 percent Fibonacci retracement level is a strong signal of a trend reversal from bullish to bearish.

litecoin priceThe 12-hour chart indicates that the ‘golden’ retracement zone will indeed allow LTC to rebound. Under this time frame, a bullish divergence between the relative strength index (RSI) and the price of LTC can be seen forming.

Divergences occur when an oscillator such as the RSI disagrees with the actual price movement. Thus, an RSI making a series of higher lows while prices are declining is indicative of an improving trend and the probability for a trend change increases.

In addition, the TD sequential indicator could soon give a buy signal in the form of a red nine. If validated, this bullish signal forecasts a twelve to forty-eight hours upswing or the beginning of a new upward countdown. An increase in the buying pressure behind this cryptocurrency could validate all the bullish signals previously mentioned taking it up to the 50 or even the 38.2 percent Fibonacci retracement, as seen on the 3-day chart.

ltc price

Overall Sentiment

Despite the recent correction seen across the entire cryptocurrency market, it seems that Ethereum and Litecoin could soon resume their bullish trend. As a matter of fact, the Crypto Fear and Greed Index (CFGI) hit its highest levels of pessimism since December 2018, which is a strong bullish sign.

The last time this technical index reached the “extremely fear” level was in mid-December 2018 and was succeeded by a 35 percent upswing in the market cap on the entire cryptocurrency market. Although the GFGI only analyses the daily emotions and sentiments around Bitcoin, it serves to determine the direction of the industry as a whole.

On the other hand, due to the regulatory uncertainty that surrounds XRP investors should remain cautious on whether the U.S. Securities and Exchange Commission will classify this cryptocurrency as an unregistered security or not. Until then, it will be wiser to stay out of it.

The post What’s next for Ethereum, XRP and Litecoin after the recent plunge ? appeared first on CryptoSlate.


Source: cryptoslate
What’s next for Ethereum, XRP and Litecoin after the recent plunge ?

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Ethereum Price Prediction and Analysis For August 16th – ETH Declining, Crypto Community Expecting Growth

By Dmitriy Gurkovskiy, Chief Analyst at RoboForex

The second cryptocurrency in terms of capitalization, the Ethereum, continues a declining correction. The test of the important support level of $165 is close; if it happens, the buyers will have to demonstrate a bounce in order to prevent further decline. It is possible that the ETH is falling in connection with a strong correction of the Bitcoin. All altcoins, in general, remain under pressure, and some say that the times of the bullish rally are nearly over.

However, on August 10th, 2019 Nick Patel carried out a poll on his Twitter account, asking the crypto community about the possibility of the EURUSD rise above $1,000. 54% of the answers turned out in favor of such growth. So, most are still sure of an upcoming wave of growth. At the same time, 34% of non-professional interviewees voted against the growth of the second world cryptocurrency to the area of last year local maximums. The ETH is trading around $180, so, the rise above $1,000 is more than 5.5 times growth, which seems too optimistic in the current market situation.

The market is overwhelmed by positive forecasts about the future of the BTC; none has come true yet, what is more, the digital gold is declining. As we remember, Max Keiser, the TV-show host, expected a breakaway of $15,000, then the Goldman Sachs promised growth to $13,971. The leading analyst of Fundstrat Global Advisor Tom Lee voiced another support of the Bitcoin in relation to the general world instability. However, he had predicted new and new heights by the end of 2019 before.

A positive sign of potential growth of the leading altcoin is the fact that Coinbase started using the Ethereum update for better receiving of payments in USDC. The innovation not only decreases the expenses on payments but also inhibits fraud transactions. This is the first project of commercial payments based on the Ethereum for Coinbase Commerce.

ethereum price chart 8/16

On the daily timeframe, the Ethereum demonstrates another impulse of decline, aiming at the correctional level of 76.0% ($163.20) Fibo. With such a pace of decline, the most probable scenario may not just be a correctional phase but a decrease aiming at the main support at $100.03. However, a bounce and forming of an impulse of growth are not to be excluded. A convergence, forming on the MACD, confirms this idea. The goal of the pullback lies near the resistance around 50.0% ($231.50) Fibo.

ethereum price chart 8/16

On H4, the Ethereum demonstrates a steep decline, nearing 76.0% ($163.20) Fibo. Meanwhile, the Stochastic has entered the oversold area, which is another confirmation of the pullback. However, a clear signal of the pullback would only be a Gold Cross in the oversold area of the oscillator. The short-term goal of the pullback may be at $200.50.

Disclaimer

Any predictions contained herein are based on the authors’ particular opinion. This analysis shall not be treated as trading advice. RoboForex shall not be held liable for the results of the trades arising from relying upon trading recommendations and reviews contained herein.

Ethereum Price Prediction and Analysis For August 16th – ETH Declining, Crypto Community Expecting Growth

By Dmitriy Gurkovskiy, Chief Analyst at RoboForex

The second cryptocurrency in terms of capitalization, the Ethereum, continues a declining correction. The test of the important support level of $165 is close; if it happens, the buyers will have to demonstrate a bounce in order to prevent further decline. It is possible that the ETH is falling in connection with a strong correction of the Bitcoin. All altcoins, in general, remain under pressure, and some say that the times of the bullish rally are nearly over.

However, on August 10th, 2019 Nick Patel carried out a poll on his Twitter account, asking the crypto community about the possibility of the EURUSD rise above $1,000. 54% of the answers turned out in favor of such growth. So, most are still sure of an upcoming wave of growth. At the same time, 34% of non-professional interviewees voted against the growth of the second world cryptocurrency to the area of last year local maximums. The ETH is trading around $180, so, the rise above $1,000 is more than 5.5 times growth, which seems too optimistic in the current market situation.

The market is overwhelmed by positive forecasts about the future of the BTC; none has come true yet, what is more, the digital gold is declining. As we remember, Max Keiser, the TV-show host, expected a breakaway of $15,000, then the Goldman Sachs promised growth to $13,971. The leading analyst of Fundstrat Global Advisor Tom Lee voiced another support of the Bitcoin in relation to the general world instability. However, he had predicted new and new heights by the end of 2019 before.

A positive sign of potential growth of the leading altcoin is the fact that Coinbase started using the Ethereum update for better receiving of payments in USDC. The innovation not only decreases the expenses on payments but also inhibits fraud transactions. This is the first project of commercial payments based on the Ethereum for Coinbase Commerce.

ethereum price chart 8/16

On the daily timeframe, the Ethereum demonstrates another impulse of decline, aiming at the correctional level of 76.0% ($163.20) Fibo. With such a pace of decline, the most probable scenario may not just be a correctional phase but a decrease aiming at the main support at $100.03. However, a bounce and forming of an impulse of growth are not to be excluded. A convergence, forming on the MACD, confirms this idea. The goal of the pullback lies near the resistance around 50.0% ($231.50) Fibo.

ethereum price chart 8/16

On H4, the Ethereum demonstrates a steep decline, nearing 76.0% ($163.20) Fibo. Meanwhile, the Stochastic has entered the oversold area, which is another confirmation of the pullback. However, a clear signal of the pullback would only be a Gold Cross in the oversold area of the oscillator. The short-term goal of the pullback may be at $200.50.

Disclaimer

Any predictions contained herein are based on the authors’ particular opinion. This analysis shall not be treated as trading advice. RoboForex shall not be held liable for the results of the trades arising from relying upon trading recommendations and reviews contained herein.

Image(s): Shutterstock.com

The post Ethereum Price Prediction and Analysis For August 16th – ETH Declining, Crypto Community Expecting Growth appeared first on NullTX.


Source: nulltx
Ethereum Price Prediction and Analysis For August 16th – ETH Declining, Crypto Community Expecting Growth

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Ethereum Coders Approve 6 Changes for Upcoming Istanbul Hard Fork

Ethereum core developers have finalized a list of EIPs for the network’s next system-wide upgrade.
Source: worldnewsoffice
Ethereum Coders Approve 6 Changes for Upcoming Istanbul Hard Fork

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Ethereum Coders Approve 6 Changes for Upcoming Istanbul Hard Fork

Ethereum core developers have finalized a list of EIPs for the network’s next system-wide upgrade.
Source: coindesk
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Ethereum Price Analysis: ETH Dumps To $180 Support

Ethereum

Over the last 10 days Ethereum (ETH) has seen a sharp pull-back. The $180 support appears to be holding for now but with large selling pressure entering the market further downside is looking likely. 


ETH/USD 4-Hour Analysis
ethusd4h

On the 4 hour chart for ETH/USD, we can see the correction taking place over the last 4 weeks stemming from the break-down at $290. The market price is now sandwiched between two strong support levels at $190 and $170. The previous consolidation in the form of an asymmetrical triangle almost ended the correction attempting to break above the 200 EMA at $235 before getting rejected. Ethereum price levels have since formed another visible downtrend.

A visibly large amount of selling volume occurred on the 14th of August, resulting in price levels dropping through $200 support. However, for such a large volume spike, there really wasn’t a lot of momentum gathering from the bears during this short drop. This indicates that bearish momentum is fizzling out as price action trades between two key support levels.

The last main support level is the 0.236 Fibonacci level at $145. It would likely be unwise to look for long entries if this level breaks.

1-Hour Analysis

On the 1 hour chart for ETH/USD, we can see the smaller downtrend that has formed since the short rally to $235. Price levels have now created a lower low on this correction as mentioned in my previous analysis. Buying pressure appears to be entering the market around the current market price of $180. However, it does not appear to be the required influx of buying volume needed to spur a short-term reversal.

The MACD has dropped significantly in the last 24 hours in conjunction with the sell off, sendingEthereum price levels crashing below $200 support. Since then, MACD has almost regained the median of 0.00 indicating a relief from bearish pressure as price levels trade between to key support levels. This is a strong indication that ETH will now enter another period of short-term consolidation, likely forming another triangle pattern and trading sideways over the coming days.

A key support that ETH must stay above in order to gain any chance of breaking upwards during the period of consolidation is $170. The key resistance level that needs to be passed in order to confirm a bullish reversal is $196. Price levels must breach and close above this point.

Do you think BTC will break upwards, or drop below $170 support over the coming days? Please leave your thoughts in the comments below!

This article is strictly for educational purposes and should not be construed as financial advice.


Images via Shutterstock, ETH/USD charts by Tradingview

The post Ethereum Price Analysis: ETH Dumps To $180 Support appeared first on Bitcoinist.com.


Source: bitcoinist
Ethereum Price Analysis: ETH Dumps To 0 Support

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Goal of Ethereum is to make all the money verbs open & permissionless

Goals

ETH: to increase in moneyness

Ethereum: to make all the money verbs open & permissionless

  • Transfer
  • Stabilize
  • Exchange
  • Lend
  • Fund
  • Pool
  • Stake
  • Save
  • Borrow
  • Bet
  • Long/Short

Ethereum has other aims yes. But these are its open finance goals

https://twitter.com/RyanSAdams/status/1162370064634568704?s=20

submitted by /u/ryanseanadams
[link] [comments]
Source: ethereum
Goal of Ethereum is to make all the money verbs open & permissionless

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Ethereum Dumped 10% Overnight: Possible Reasons Why

Ethereum Dumped


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The night has brought a new dump on the markets – and this time the altcoin news show that Ethereum dumped 10% overnight, but no one seems to know the reasons for it yet. It all started with Bitcoin faced a sharp drop that sent it to lows of $9,500 after which it reversed.

Ethereum, however, has been reeling down 10% to a major support level at $185 and the latest drop may have been perpetuated by a Chinese Ponzi scheme which scammed a total of 800,000 ETH from unsuspecting investors, as the news showed.

Now that Ethereum dumped 10%, its current price is $183 and it is hard for the cryptocurrency to rise again to $200. In fact, the drop was from $200 in less than 24 hours, which makes ETH vulnerable at this point.

Also, the leg down comes about as the entire cryptocurrency market faces a massive sell-off. The latest cryptocurrency news show that a lot of altcoins have dumped 10% or more – with EOS and Tron among the losers yesterday.

The reasons for this are still unknown. However, we know that Bitcoin is a major catalyst to both gains and losses – which is probably why Ethereum dumped 10% overnight. The good news are that Bitcoin has since recovered and is trading very close to the key psychological price level of $10,000.

In spite of the recovery, most of the altcoins are still trading at or just above their 24-hour lows as the coming altcoin news show. Ethereum dumped 10% but is now posting a minor recovery from the bottom of $176 which it touched overnight.

According to Dovey Wan who is a founding partner at Primitive Crypto, the  (Chinese Ponzi) scam and their wallet holdings currently have 70,000 Bitcoin and 800,000 Ethereum, which may be ultimately dumped onto the fragile markets.

“JUST IN: as per sir @loomdart‘s request, this thread is abt the on-going sells off made by PLUS Token, the biggest Chinese PONZI which scammed ~70K $BTC + ~ 800K $ETH. I mentioned it briefly in my last Coindesk oped but worth additional attention as it may cause further sells,” she noted.

It still remains unclear why Ethereum dumped 10% overnight – and if this massive mount contributed to yesterday’s drop. However, a panic sell-off could be triggered very soon, perpetuated by any movement in the scammer’s wallets.

The post Ethereum Dumped 10% Overnight: Possible Reasons Why appeared first on DC Forecasts – Leading Digital Currencies.


Source: dcforecasts
Ethereum Dumped 10% Overnight: Possible Reasons Why

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