Category: Crypto

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Crypto

Ripple (XRP) Dropped Significantly In The Last 24 Hours – Here’s The Background Of This Loss

The third biggest cryptocurrency by market capitalization, the Ripple (XRP), was impacted by a collective lawsuit filed on Thursday, May 3rd, in the United States. The value of the token collapsed this week, with a 24% downtrend on a seven-day basis and an 11.26% drop in the price of the token over the last 24 hours.

The complainant, Ryan Coffey, is demanding an undisclosed compensation and has declared that Ripple Labs is currently marketing unregistered securities. The report notes that the US Securities and Exchange Commission (SEC) has made it quite clear that digital tokens, such as XRP, frequently represent “securities and cannot be sold legally without being registered with the SEC or requesting an exemption from registration.”

Ripple (XRP) prices – XRP dropped hugely

At the moment of this article, XRP trades at $0.70, dropping by 11.26%, due to the negativity that surrounds it but also due to a massive cryptocurrencies market downtrend, recorded today.

Apparently, the crypto market dropped due to the massive selling of cryptocurrency holdings conducted by the majority of UpBit traders.

However, the analysts think this negative correction is only temporary as the traders will re-invest in the following days. Therefore, the Ripple (XRP), along with the other cryptos, will recover.

Ryan Coffey’s case states that XRP is owned by people related to the company and is released in a selective way to boost its value

Coffey’s litigation is addressed to both the company and its CEO Brad Garlinghouse and it is argued that, unlike being mined such as Bitcoin (BTC) or Ethereum (ETH), XRP tokens “are created from scratch” and are possessed by people related to Ripple (XRP) who issue the altcoin in a selective way, as in an unending ICO.

It is alleged, according to the legal action, that these people are quietly marketing Ripple to the masses in an endeavor to boost the demand for XRP and, consequently, the price of the cryptocurrency in an attempt to raise their profits.

Furthermore, a number of recent Bloomberg reports emphasize the circumstance that, as the XRP is still not well understood and clarified, it might indicate that the Ripple (XRP) falls under the SEC’s guidelines for securities.

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Crypto

EOS (EOS) Dropped Massively Today – Is EOS Going To Recover?

EOS (EOS) prices, for those who bought a month ago, are still ample margins to go and liquidate positions in strong profit. The short focus and the high risk of area breakage of $14. Is EOS (EOS) the next big cryptocurrency ready to detach itself from the group?

Nathan Reiff asked himself this question on investopedia.com after the digital currency, which was launched in mid-2017, seems to have all the right credentials to return to its historical highs and to surpass them with momentum in accordance with a recent report by Coindesk.

EOS quotations on a roller coaster

Currently, EOS (EOS) is the 5th most capitalized cryptocurrency on the cryptocurrencies market, with about $12,9 billion as market cap.

Today, Friday, May 11th, 2018, EOS crypto fluctuated between $14.40 and $17.70 in a trading session characterized by assignor quotations and a high level of volatility.

At the moment of this article, EOS (EOS) is trading at $15.19, after declining by a massive 17.19% in the last 24 hours. Yesterday, the crypto coin closed at $17.54, a value orbited by EOS since May 3rd, with an only exception, on May 8th when the coin got closer to $19.

What do the graphs say about EOS (EOS)?

Considering the cryptocurrency exchanges on the Bitfinex exchange, EOS (EOS) reached its historical peak on April 29th, 2018 when it reached the $23.03 level against the USD. Despite that massive increase, EOS has dropped quickly to $15.71, a level that corresponds to a Fibonacci retracement of 38.2% since the March 18 rally party.

As is clearly visible from the graph, the coin has fluctuated around the same values against the USD just to drop massively in the last 24 hours, culminating with the drop EOS experienced today.

As the coin is now struggling around $15, as I’ve mentioned above, its near future is not certain. The significant drop registered by almost every coin in the cryptocurrencies market also reflected on EOS (EOS). On the long-term, EOS is gonna come back to around its historical values against the USD, some analysts believe.

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Crypto Finance News

Nvidia to Lower in Pre-market Because of the Cryptocurrency Income

Nvidia shares are known to open lower Friday after the Santa Clara Calif-based chipmaker said deals from its digital money mining chips would fall strongly this quarter as supply imperatives ease and request moderates.

Nvidia Corporation shares became lower in pre-advertise trading Friday after the chipmaker posted more grounded than-anticipated first-quarter income yet spooked financial specialists by uncovering points of interest that demonstrate an expanding dependence on unpredictable cryptocurrency mining activity.

Nvidia said its first-quarter net salary dramatically increased from a similar period a year ago to $1.24 billion, or $2.05 an offer barring exceptional items, a figure which soundly beat Wall Street gauges for the year’s hottest tech stock. Group incomes additionally beat conjectures, rising 65% to $3.21 billion for the three months finishing off with March. In any case, around 10% of that top line of $289 million originated from cryptocurrency mining, as Nvidia stated, and that number is relied upon to fall strongly, by around 66% in the present quarter.

Cryptominers purchased a lot of their GPUs amid the quarter, and it drove costs up. Furthermore, they believe that lots of gamers couldn’t become tied up with the new GeForce as a result, as CEO Jensen Huang told investors on a conference call on Thursday. As we’re all seeing, the costs descend, and they monitor spot pricing each and every day around the globe. Also, the costs are beginning to normalize.

Activity Alerts Plus to be 2.16% lower in the pre-marketing trades?

Activity Alerts Plus holding Nvidia shares were stamped 2.16% lower in pre-marketing trade. This shows an opening chime cost of $254.50 each, a move that would trim its year-to-date achievements of 31.5%, yet, at the same time, leave the Santa Clara, Calif-based group as the best entertainer on the Philadelphia Semiconductor sector benchmark.

The market response to the digital currency incomes, be that as it may, gives a false representation of a solid first quarter for the group, TheStreet’s Eric Jhonsa said on Thursday, given that every one of its revealed advertise segments (Gaming, Datacenter, Automotive, Professional Visualization and OEM and IP) beat consensus income gauges.

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Crypto

Facebook’s Cryptocurrency Is Apparently Under Development As We Speak, According To Some Rumors

Facebook’s cryptocurrency could become a reality, to encourage and facilitate payments within the platform. Bitcoin’s fever may have subsided a bit but developments in blockchain technology continue. And at this rate, it looks like everyone will have their own cryptocurrencies.

Among the last ones to get on the train would be Facebook and there are already many clues pointing to it, according to some sources. The social network wants to get into this sector in a big way, offering electronic payments on its platform without having to depend on third parties.

That Facebook is investing in blockchain is no secret as, in fact, some members of the development team started researching how to implement this technology on the social network almost a year ago.

Facebook’s cryptocurrency is closer and closer to becoming a reality

Just this week, Facebook confirmed the importance of blockchain technology for its future, with the creation of a new development team led by the vice president of Facebook Messenger. This team, officially, has the role of exploring ways to develop and implement blockchain within the social network.

However, according to internal sources in the company, the team is serious and already has certain ideas on how to achieve this, and, supposedly, it will start with the creation of the Facebook’s cryptocurrency.

A Facebook cryptocurrency would be a virtual currency, which would allow us to pay without a credit card and it could be used in the Marketplace, the Facebook “flea market”, or for payments between users. The big question is what the value of this currency would be, and how users would get it.

By having its own cryptocurrency, Facebook would gain greater control over the transactions that take place on its network and would no longer depend on third parties for payments. But, the Facebook’s cryptocurrency is still far from being released any time soon.

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Crypto

TRON (TRX): Tron Mainnet Blockchain Technology Operates At Speeds By 100 Times Higher Than Ethereum’s

Tron Labs, one of the entities behind TRON (TRX), claims its blockchain technology will be incredibly faster than Ethereum’s one, as it will be using a technology which will revolutionize the blockchain technology developing. In the opinion of Tron Labs, TRX’s mainnet network, which will be launched on May 31st, has now achieved test speeds which are “hundreds of times” higher than Ethereum’s blockchain speeds.

Expectedly, TRON (TRX) price will get a boost once the mainnet will be up and running.

Tron mainnet will enter a test stage right after its launch but is promising a next-gen infrastructure and lightning speeds

In a recent blog post from Medium, Tron argues that its platform will make it possible for the blockchain industry to break its reliance on Ethereum.

Because Tron is Java-based and provides a developer-friendly environment, the industry will be able to break with Ethereum and its low-efficiency network prone to congestion, high rates, and a strong learning curve. We will open the doors to a new phase of cryptocurrency focused on scaling and commercialization, providing the next-generation infrastructure and express lanes needed for the global development of dApp.

Tron Labs

Tron is saying that once it has released its mainnet, it will be in a test stage from June 1st to June 24th. Thereafter, Tron will be conducting its ” Super Representative Election “, scheduled for June 26th, to elect the agencies and persons that will be empowering the core of the Tron Net.

TRON (TRX) price – How is TRX doing as we’re getting closer to the mainnet launch?

At the moment of this article, TRON (TRX) is trading at $0.080 after losing about 1.88% in the last 24 hours. Yesterday, TRX closed at $0.081. In fact, TRX is in continuous decline since the last day of April when TRON (TRX) closed at $0.0937, which was, actually, the highest value TRX has ever achieved against the USD.

It is expected that, as we move closer to the launch of the Tron mainnet, TRON (TRX) price to go up.

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