Tron Completes TRX Airdrop as Mainnet Launch Approaches

TRON has completed their 30 million TRX token airdrop to Ethereum holders as the mainnet launch date comes into view.

30 Million TRX Token Airdrop Complete

Justin Sun, founder of TRON, made the announcement last month of an airdrop campaign that would randomly disperse 30 million TRX tokens into Ether wallets that contained at least 1 ETH. The airdrop was meant to both reward the Ethereum community for supporting the ERC20 TRX token and as a way to give them a taste of what TRON will have to offer.

The airdrop began on April 27 and was completed on May 7 with 602,881 Ethereum addresses receiving TRX. Justin Sun tweeted out the coming change,

“From today to the last day, we are no longer the ERC20 token and in the future, we will compete with Ethereum as a DApp platform.”

Though the airdrop of tokens must be seen as a gesture of appreciation from Tron to Etherum, Justin Sun also made a 7 point direct comparison between the two networks which showed TRON’s superiority at least as far the list goes.


  1. 10000TPS vs. 25TPS
  2. Zero fee vs. high fee
  3. consistent coinburn vs. no coinburn
  4. Java vs. Solidity
  5. Strong extensibility vs. no ex.
  6. 1 billion USD developers rewards vs. no plan
  7. 100 million users vs. small number

In response, Vitalik Buterin added his own as number 8 taking a stab at the rival altcoin; Better white paper writing capability (Ctrl+C + Ctrl+V much higher efficiency than keyboard typing new content) to which Sun tweeted his thanks to Buterin.

TRON Set to be Serious Ethereum Compititor

The next step for TRON is the migration from the Etherum network to the mainnet on May 31. The migration will include the ERC20 token becoming TRX on the mainnet as well all as moving all dApps currently running on Ethereum.

Ther move to the mainnet could lead to massive growth for TRON when the results of the already completed testnet are considered. TRON added 2,500 nodes in 31 countries and gained support from exchanges like Bitfinex, Bittrox, Zebpay, and others.

If Sun can also manage to bring the estimated 100 million users of TRON dApps along to the new ecosystem then he will have created a serious competitor to Ethereum as he has intended in his Tweets;

We will compete face to face with Ethereum, and we have confidence we will build a large ecosystem; a much large ecosystem than the Ethereum.


Image from Shutterstock

The post Tron Completes TRX Airdrop as Mainnet Launch Approaches appeared first on NewsBTC.

Powered by WPeMatico

Today’s Double Digit Gainers: Bytecoin (BCN), Zilliqa (ZIL) and Ox (ZRX)

As much as we all want some serious crypto action in the markets, the current total market capitalization above $400 Billion is enough for now and indication of better things to come. The total market cap is currently at $442.5 Billion with hopes of reaching $500 Billion as soon as Bitcoin (BTC) regains its footing in the markets.

Current market analysis puts The King of Crypto at $9,341 per BTC and down 0.23% in 24 hours. Ethereum (ETH) has managed to gather some good volume that is allowing the King of Smart Contracts to trade at current levels of $752. Ripple (XRP) is still very steady at the current level of $0.83.

With the Big 3 coins analyzed, it is then time to check out the amazing double digit gainers of the day.

Bytecoin (BCN)

Current market analysis puts BCN at a value of $0.0114 and up 64.33% in 24 hours. This is extraordinary for a coin Ethereum World News had highlighted less than a week ago. The current gain by the coin is attributed to the Binance listing less than 4 hours ago. BCN is now available for trading against Binace Coin (BNB), Bitcoin and Ethereum.

Bytecoin prides itself as being the first truly private untraceable cryptocurrency.

Zilliqa (ZIL)

Zilliqa is doing impressively well in the market. It is up 12.64% in 24 hours and currently trading at $0.144 at the moment of writing this. Zilliqa already has a Test Net version of its blockchain platform out with anticipation of the release of its Main Net later this year.

Ox (ZRX)

ZRX has been on the radar of day traders for quite some time due to its never ending daily action. The token is currently trading at $1.79 and up 17.64%. The project belonging to this token prides itself as being an open, permissionless protocol allowing for ER20 tokens to be traded on the Ethereum Blockchain.

The team behind the project is diverse and hails from different countries across the globe. Their backgrounds are in engineering, research, business and design.

In a nutshell, the keen crypto-trader will note the patterns of some of these coins and tokens with an aim at monetizing the gains and dips. But if day trading is too risky for you, the best option would be to buy and HODL.

The post Today’s Double Digit Gainers: Bytecoin (BCN), Zilliqa (ZIL) and Ox (ZRX) appeared first on Ethereum World News.

Powered by WPeMatico

‘There is no 10 Billion Tron (TRX) Airdrop,’ TRON Telegram Announcement

As the Crypto-verse expands at near light speed, so do the scammers trying to cash in on the exciting opportunities. Yesterday, Ethereum World News reported that the Zilliqa (ZIL) project has been the subject of false airdrop announcements by scammers. The Tron (TRX) project has also not been spared by scammers and on numerous occasions.

The Tron Announcement channel is always on its toes in terms of the happenings on the web. With this respect, they were able to identify a scam associated with a false airdrop of 10 Billion TRX.

In the announcement that was made just yesterday, May 7th, the TRON Team says the following with a corresponding link to the article associated with it:

“This is a scam people. Do not fall for it.”

                    Tron Telegram Announcement

The article that made the announcement claims the following false statements:

  • There exists a TRX reward campaign for holders that totals 10,000,000,000 TRX that will be distributed in an airdrop
  • Remaining tokens will be burnt before token Migration on the 21st of June when the project switches from ERC20 protocol to its own blockchain
  • Airdrop to be claimed via smart contract
  • Claim to be submitted via MyEtherWallet and MyCrypto with links provided
  • 1 TRX will be awarded for every 1,000 TRX owned and 1,000 TRX awarded for every 1 ETH owned
  • Justin Sun had endorsed the airdrop

Upon closer scrutiny of the websites that the article came from, you realize it is a fake website.

The url has a dubious ‘xn--‘ before the link and another ‘–wk5f’ after the word cointelegraph on the domain name. In simple terms, the website is fake.

A similar pattern can be observed when you look at the domain addresses of the MyEtherWallet and given by the article. 

In a nutshell, the Crypto-verse is being plagued by numerous scamming attempts by tech savvy individuals out for a quick buck. As a Crypto-enthusiasts, a few checks on every announcement should be made especially if it is an airdrop. The best method of confirming an airdrop is by Installing Telegram, finding the official chat group for the Crypto project, and asking your question there to confirm the event.

The post ‘There is no 10 Billion Tron (TRX) Airdrop,’ TRON Telegram Announcement appeared first on Ethereum World News.

Powered by WPeMatico

Binance CEO Calls ICOs Necessary And ‘100 Times Easier Than Traditional Venture Capital’

Binance CEO Changpeng Zhao said in a blog post that ICOs perform better than VCs, claiming they are “100 times easier” for raising money.

Changpeng Zhao, the CEO of digital currency trading platform Binance, said in a blog post May 7 that initial coin offerings (ICO) perform far better than venture capital funds (VCs), even with a high risk of failure.

In a blog post titled “ICOs — Not Just ‘Good-to-Have,’ But Necessary,” Zhao expressed his support for ICOs claiming they are “100 times easier” for raising money than traditional VCs:

“Through my own experience, and watching hundreds of other projects at a close distance, I would say raising money through ICOs is about 100 times easier than through traditional VCs, if not more. With the ease of raising money increased, logic says there may be 100 times more startups, well-funded startups, where ICOs are allowed.”

Zhao said that while some VC investors are real experts in their field, the great majority of “professional VCs” have “no clue” about the projects or fields they invest in. According to Zhao there is a notable absence of startup experience and insufficient understanding of projects’ technologies.

Zhao admitted that the ICO market is in its early days and therefore is encountering problems, including scams and failures. He still believes that “compared to ‘traditional VC invested projects,’ a larger ratio of ICO projects will succeed.” He wrote:

“Most ICOs are new startup projects, and have a high rate of failure, just like in traditional startups. This is nothing new. Most ICO investors already know this. ICO investors are early adopters (and learners).”

Zhao concluded by mentioning that many VC groups are now investing in ICOs. He said that VC groups “have their nose on the money”, adding that they are more “nimble” than other large organizations which are responsible for public wealth; “the faster movers will reap exponential benefits.”

Cointelegraph previously reported that American venture capital firm Sequoia sued Changpeng Zhao for allegedly breaching an exclusivity agreement during negotiations of an investment deal. The deal was for an $80 mln, 11 percent stake in Binance which broke down last year.

Powered by WPeMatico

Ethereum (ETH) Price Analysis: Look at These Next Upside Targets

Ethereum has been trending higher, trading above a rising trend line connecting its latest lows. Price has made another bounce off this support zone, which lined up with a former resistance.

Applying the Fib extension tool shows the next potential upside targets. The 38.2% extension is near $775 then the 50% extension is at $800. Stronger bullish pressure could take it up to the 61.8% extension near the swing high or the 76.4% extension at $852.48. The full extension is located near $900.

The 100 SMA is safely above the longer-term 200 SMA to confirm that the path of least resistance is to the upside. This suggests that the uptrend is more likely to continue than to reverse. In addition, the 100 SMA recently held as dynamic support. The gap between the moving averages is widening to reflect strengthening bullish momentum.

Stochastic is also pulling up to show that buying pressure is present while RSI is turning higher without hitting oversold conditions. This suggests that bulls are eager to charge once more.

Cryptocurrencies took hits after finance moguls Warren Buffet and Bill Gates had some bearish things to say about bitcoin, dragging other altcoins like ethereum lower as well. Besides, the presence of geopolitical risk has also weighed on investor risk appetite in the past few days.

In contrast, the dollar has gained some ground on safe-haven demand and hawkish Fed commentary. Some FOMC officials have expressed willingness to let inflation run past the 2% target before tightening more aggressively, which suggests more room for growth and rate hikes.

Still, industry developments in the altcoin sector have been mostly positive and supportive of longer-term gains. For ethereum, however, the upcoming meeting among US regulators on their decision on how to classify the cryptocurrency is keeping some jitters in play.

This meeting is slated to take place this week and officials from the SEC and CFTC are set to decide if ethereum should be treated as a security, which will have implications on dapps and startups based on it.

The post Ethereum (ETH) Price Analysis: Look at These Next Upside Targets appeared first on Ethereum World News.

Powered by WPeMatico

Ethereum Price Technical Analysis – ETH/USD Gaining Momentum

Key Highlights

  • ETH price found buyers near the $695 level and started recovering against the US Dollar.
  • There was a break above a major bearish trend line with resistance at $761 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair is gaining momentum and is currently trading nicely above the $760 level.

Ethereum price is showing positive signs against the US Dollar and Bitcoin. ETH/USD may continue to move higher towards $800 in the near term.

Ethereum Price Trend

Yesterday, we saw a downside correction in ETH price below the $800 level against the US Dollar. The price declined and broke the $760 and $720 support levels. It even broke the 61.8% Fib retracement level of the last wave from the $665 swing low to $833 high. The downside move stopped near the $695 level where buyers appeared.

Later, an upside wave was initiated and the price moved above the $720 level. Buyers pushed the price above the 23.6% Fib retracement level of the last slide from the $829 high to $694 low. More importantly, there was a break above a major bearish trend line with resistance at $761 on the hourly chart of ETH/USD. The pair also succeeded in breaking the $765 resistance and the 100 hourly simple moving average. At the moment, it is trading near the 61.8% Fib retracement level of the last slide from the $829 high to $694 low. A break above the $777 level is needed for more gains in ETH in the near term.

Ethereum Price Technical Analysis ETH USD

Looking at the chart, the price is showing positive signs above $760. There can be a minor downside correction, but the $760 support and the 100 hourly SMA may prevent declines. Any further losses below $760 could push the price back towards $740. On the upside, a break above $777 would call for a test of $800.

Hourly MACD – The MACD has moved back in the bullish zone.

Hourly RSI – The RSI is now well above the 50 level.

Major Support Level – $760

Major Resistance Level – $777

The post Ethereum Price Technical Analysis – ETH/USD Gaining Momentum appeared first on NewsBTC.

Powered by WPeMatico

Asian Cryptocurrency Trading Roundup: Bytecoin Boosted by Binance Listing

FOMO Moments

Following two days of selling pressure the markets have stabilized a little and even started to gain marginally during the morning’s Asian trading session. Total market capitalization is climbing back towards $450 billion and Bitcoin did not drop below $9k. It is currently trading up 1% on the day at $9,440. Altcoins are mostly in the green today as they forge a recovery from the recent correction. As usual one is surging ahead of the pack and today that crypto is Bytecoin.

Coinmarketcap is reporting a 31% gain in BCN from this time yesterday. The spike started about an hour or two ago as price jumped to $0.0090 from $0.0068 on Monday. Over the week Bytecoin has risen almost 75% from $0.0052 this time last week. During the past 30 days it has performed very well surging nearly 300% from $0.0021 this time last month. Against Bitcoin BCN has climbed 30% on the day to 96 satoshis from 74 sats this time yesterday. Monthly gains have been exceptional with a climb of 210% from 31 satoshis on April 8.

The boost has pushed Bytecoin into the top 25 to 22nd place where it currently sits. BCN is the first cryptocurrency based on the CryptoNote technology with an open source code designed for anonymous cash settlement. It joins the growing ranks of privacy based altcoins entering the crypto-scape. Binance announced a listing 2 hours ago which has sent this altcoin skywards on the fomo elevator.

Trade has been dominated by the few exchanges where this cryptocurrency is currently listed, namely HitBTC and Poloniex. BCN volume has jumped in the past few hours from $5.4 million to just over $10 million as traders ride the upward wave. Its market cap is now $1.5 billion which is 50% higher than this time last week. The increase has carried Bytecoin above Lisk, Verge, and Nano.

Total crypto market capitalization has regained 3% on the day to $447 billion indicating that the last two days were just a small correction as traders took profits. Trade volume for all cryptos has remained steady at around $25 billion. Other altcoins performing well during the Asian trading session include EOS, VeChain, Icon and Verge.

More on Bytecoin can be found here:

FOMO Moments is a section that takes a daily look at the top 25 altcoins during the Asian trading session and analyses the best performing one, looking for trends and possible fundamentals.

The post Asian Cryptocurrency Trading Roundup: Bytecoin Boosted by Binance Listing appeared first on NewsBTC.

Powered by WPeMatico

Bitcoin, Ethereum, Bitcoin Cash, Ripple, Stellar, Litecoin, Cardano, IOTA, EOS: Price Analysis, May 07

Technical analysis on top 9 cryptocurrencies.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Every investment and trading move involves risk, you should conduct your own research when making a decision.

The market data is provided by the HitBTC exchange.

The question whether the American regulators classify Ethereum as a security or not is taking center stage because it might have serious ramifications on the crypto world. Though it is not a decision that will be made in a hurry, still, the news will be keenly watched because of its possible widespread impact.

At the same time, the increased regulations in Japan and Hong Kong are forcing the cryptocurrency exchanges to shift to more regulatory friendly nations.

Korea is another nation where the daily transactions of digital currencies have plunged due to various regulations. The new governor at the helm of South Korea’s Financial Supervisory Service (FSS) sees “some positive aspects” to digital currencies. However, what he does to support the crypto world will be interesting to see.

Nick Colas, the Wall Street brokerage analyst who started covering Bitcoin (BTC) in 2013, believes that investors should not buy Bitcoin at the current prices.

We, on the other hand, believe that most of the top cryptocurrencies are forming bottoms. Though it may not be a vertical road to recovery, they will offer enough opportunities to trade. Let’s see the ones we like today.


Bitcoin could not break out of $10,000 on May 05 and May 06. Later, prices turned around and broke below the support line of the ascending channel, which is a bearish sign. Currently, the 20-day EMA has been offering a strong support. If this level holds, the bulls will again attempt to break out of the overhead resistance at $10,000 and rally to $12,000 levels with a minor resistance at $11,000.


If the support zone between the 20-day EMA and $9,000 breaks, the BTC/USD pair can fall to the 50-day SMA at $8,500. Therefore, we suggest retaining the stops at $8,900.

If the $9,000 level holds, there is a possibility of an ascending triangle formation. Hence, we want to keep our positions open with a stop loss below which the probability of a slide increase.


Our proposed buy on Ethereum was triggered on May 06 when it declined close to the breakout levels. However, today, prices have slumped below the breakout level of $745, which is a bearish sign.


The small positive is that prices have bounced off the 20-day EMA. If the bulls can push the ETH/USD pair above $745 once again, a move towards the target objective of $1,130 is likely. It may face some resistance at $900 and $1,000, but we expect these levels to be crossed.

If the 20-day EMA breaks, a fall to $600 and below that to the 50-day SMA is possible. Therefore, we suggest maintaining the stops at $640.


Bitcoin Cash broke out and closed (UTC) above the $1,600 levels on May 05, which triggered our buy recommendation. The stop loss was $1,400, and the target was $2,000.


The BCH/USD pair has turned down sharply and is currently at the break out levels of $1,600. If this support holds, a move to $2,000 is possible.

If the digital currency breaks below $1,600 and the support line of the ascending channel, it can correct to the 20-day EMA.

The trade is looking weak, and the RSI is showing negative divergence. Therefore, we suggest raising the stops on half position to $1,500 and retaining the rest at $1,400.


Ripple again failed to break out of the upper end of the range. It has turned down and is likely to decline to the lower end of the range at $0.76 because it is struggling to hold the 20-day EMA.


If the XRP/USD pair breaks below the range, it can slide to the 50-day SMA and below that to the $0.56270 levels.

If the support at $0.76 holds, it may remain in consolidation for a few more days. We shall turn bullish either on a break out of the range or if a new buy setup forms.


Stellar has turned down from the overhead resistance of $0.47766719, invalidating the probable rounding bottom formation. Now, there is a possibility of a cup and handle formation, but the setup completes only after a breakout of the overhead resistance.


The XLM/USD pair should find support at the 20-day EMA and below that at the $0.334 levels. If both these levels break, the slide can extend to the 50-day SMA.

Therefore, we recommend waiting for the price to break out of $0.48 before initiating long positions.


Litecoin reached our target objective of $180 on May 05 and May 06. Hopefully, the traders would have closed their long positions either by selling the complete position at $180 or by trailing the stops higher.   


The LTC/USD pair is currently trading in an ascending channel. The support line of the ascending channel and the 20-day EMA, close to $155 levels should offer strong support.

We suggest waiting for a breakout above $168 before initiating long positions because a breakdown of $155 can sink the cryptocurrency to $143 levels.


Cardano has corrected back to the breakout levels of 0.00003445 which is critical support because the 20-day EMA, the trendline and the horizontal line all lie at the same place.


If the support holds, the ADA/BTC pair should attempt to resume its uptrend and rally towards its target objective of 0.000045 and 0.00005217.

Nevertheless, if the support breaks, it will indicate weakness and the digital currency can slide to the 50-day SMA. Though our suggested stop loss is currently at 0.000029 levels, we shall close the position if we find the price sustaining below 0.000034 levels.  


The breakout in IOTA above the overhead resistance of $2.2117 on May 02, has proven to be short-lived as prices have declined back into the range.   


The IOTA/USD pair is currently bouncing off the 20-day EMA and the support line of the ascending channel, both of which are formidable supports. If the support holds, the digital currency will attempt to break out of $2.2117 once again.

We shall wait for the price to scale back above the overhead resistance and sustain before turning positive because we don’t like the negative divergence on the RSI.

If the support breaks, the fall can extend to the 50-day SMA.


After the stupendous rally, EOS has been trading in a tight range for the past week. We have been anticipating a few days of consolidation to digest the recent gains.


On the downside, the 38.2 percent Fibonacci retracement level of the recent rally has offered strong support. This shows that the bulls are in no hurry to book profits and are willing to buy the small dips. However, on the upside, $18.65 and $19.63 have been acting as strong resistances.

A break down below $16 can lead to a slide to $14.495 levels while a breakout of $19.63 can carry the EOS/USD pair to the lifetime highs. At the current levels, we don’t find any buy setups, hence we are not suggesting any trade on it.

The market data is provided by the HitBTC exchange. The charts for the analysis are provided by TradingView.

Powered by WPeMatico

Federal Reserve: Bitcoin Futures Launch Led To December 2017 Price Decline

A Federal Reserve Economic Letter shows that the introduction of Bitcoin futures trading directly influenced the decline of the cryptocurrency’s price in December 2017.

Тhe Federal Reserve Bank of San Francisco released an Economic Letter May 7, suggesting that Bitcoin’s (BTC) decline following its $20,000 peak was the result of the launch of Bitcoin futures trading.

The Federal Reserve’s letter says that “the rapid run-up and subsequent fall in the price after the introduction of futures does not appear to be a coincidence” and “it is consistent with trading behavior that typically accompanies the introduction of futures markets for an asset.”

The highest Bitcoin price coincided with the introduction of Bitcoin futures by the Chicago Mercantile Exchange (CME) in mid-December last year. A week earlier, the Chicago Board Options Exchange (CBOE) also launched Bitcoin futures, although trading was thin, the study says.

According to the letter, optimistic investors who bet that the price was going to rise were the only driver of the Bitcoin surge. Constant price growth attracted more optimists who, in turn, increased the demand even more.

Pessimists had no available instrument to short Bitcoin and to profit from betting on a price decline until Bitcoin futures were introduced. The new investment opportunity caused a fall in demand in the day-ahead Bitcoin market and subsequently sent the price down.

“… The launch of Bitcoin futures allowed pessimists to enter the market, which contributed to the reversal of the Bitcoin price dynamics.”

The letter suggests that the Bitcoin price didn’t collapse overnight after the futures launch by CBOE and CME due to relatively low trading volume of Bitcoin in the futures market.

According to the letter, futures prices for Bitcoin will depend on demand and adoption of the cryptocurrency by traditional financial institutions as “collateral, a means of payment, or a direct investment.” It states:

“If a different cryptocurrency becomes more widely used as a means of exchange in the markets currently dominated by Bitcoin, demand for Bitcoin may drop precipitously because these tend to be winner-takes-all markets.”

Last week, a former Federal Reserve governor said that, had he been chosen as Chairman of the Fed instead of Jerome Powell, he would have introduced a working group to consider a federal digital currency.

Powered by WPeMatico

Bitcoin (BTC) Price Analysis: Bulls Waiting to Charge Again Right Here

Bitcoin found resistance at the top of its ascending channel on the 1-hour time frame and has since pulled back to the Fibonacci levels. The 61.8% retracement level already seems to be holding as support and could spur a bounce back to the swing high at $10,000 or the channel resistance closer to $10,200.

The 61.8% Fib also lines up with an area of interest or former support at $9,300 which makes it a potentially strong inflection point. A larger pullback, however, could still last until the actual channel bottom at $9,200.

The 100 SMA is above the longer-term 200 SMA to confirm that the path of least resistance is to the upside. This means that the uptrend is more likely to continue than to reverse. However, the gap between the moving averages is narrowing to signal a potential slowdown in bullish momentum.

At the same time, stochastic is on its way down to show that sellers still have the upper hand. RSI, on the other hand, is turning higher to reflect a return in buying pressure. Note that price is below the 200 SMA dynamic inflection point, which is a point in favor of bears as well.

Apart from profit-taking at the $10,000 mark, remarks from finance moguls Warren Buffet and Bill Gates spurred a drop in bitcoin as they reiterated their bearish views.

In an interview with CNBC, Warren Buffet said:

“When you’re buying nonproductive assets, all you’re counting on is the next person is going to pay you more because they’re even more excited about another next person coming along.”

In the same interview, Bill Gates noted:

“As an asset class, you’re not producing anything and so you shouldn’t expect it to go up. It’s kind of a pure ‘greater fool theory’ type of investment. I would short it if there was an easy way to do it.”

Naturally, this spooked a lot of investors into liquidating their positions, but it appears that underlying market fundamentals and positive developments in the industry earlier on could keep the trends intact.

The post Bitcoin (BTC) Price Analysis: Bulls Waiting to Charge Again Right Here appeared first on Ethereum World News.

Powered by WPeMatico