Nano Up Double Digits, Makes Venezuelan Push
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Nano, the No. 27 cryptocurrency with a market cap of $405 million, has managed to do what has eluded many other altcoins in August– post gains for the entire month. The NANO coin has advanced approximately 14% in the last 24 hours to $3.
04 and its value has ballooned by 85% over the last month.
Meanwhile, the technical signals surrounding Nano remain solid, with the MACD in bullish territory and relative strength neutral at 61. Source: TradingView Venezuela Push
It may seem as though Dash coin has a lock on Latin America, but Nano is making a push in the region as well.
In fact, it’s countries like Venezuela — where the economy is mired in hyperinflation — that Nano, with its zero-fee and two-second transactions, targets. The Nano Center is spearheading a Venezuela project, which is dedicated to educating Venezuelans on why they should transact in Nano.
Nano believes if zero-fee transactions will make its cryptocurrency stand out from the rest, particularly in a country where the local currency, the bolivar, has been devalued. But Nano faces competition there, including from the Venezuelan government, which just launched an oil-backed cryptocurrency of its own, the petro. Meanwhile, bitcoin adoption is on the rise across South America, particularly Venezuela, where the number of bitcoin transactions increased twofold last week. Source: eToro Commentary
It’s early days for the integration of Nano in developing countries like Venezuela, and the team is only just laying the groundwork now. They have formed some partnerships, which is key to integration and a similar approach to what rival Dash has been doing on the ground there.
Source: Instagram
Nano Founder Colin LeMahieu participated in a recent Bad Crypto Podcast , where he addressed Nano adoption. LeMahieu pointed to the recent unveiling of mobile wallets, which was a “stepping stone” for the project.
Next up, they’re looking to make it easier for users to get their hands on the Nano coin. At the moment, users have to jump through some conversion hoops from bitcoin into Nano.
The Nano team wants to make it so investors can go out of fiat and into Nano directly. LeMahieu also tilted his hand to the project’s strategy, which is to target adoption in markets where Nano’s key features — fast and free — are most appreciated.
Meanwhile, short-term price catalysts include a recent exchange listing and a Nano-coin giveaway.
Coinbene, which is among the top 30 cryptocurrency exchanges based on volume, has listed Nano , trading and deposits for which launch this weekend. Meanwhile, Nano in the spirit of decentralization is running its own promotion for the community to create “change your representative” videos in which the first prize is 100 Nano coins.
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Loading… Gerelyn Terzo 4.6 stars on average, based on 49 rated posts Gerelyn has been covering ICOs and the cryptocurrency market since mid-2017. She’s also reported on fintech more broadly in addition to asset management, having previously specialized in institutional investing. She owns some BTC and ETH.
You must be logged in to post a comment Login Leave a Reply Verge (XVG) Spikes 29% Overnight: EU Exchange Adds XVG/EUR Pair
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The anonymity focused cryptocurrency Verge (XVG) spiked 29% overnight, with the peak coming in the early hours of Sunday morning. Verge dropped a couple of hot pieces of news in the last twenty-four hours that will interest the ‘Verge Fam’, and already appear to have interested investors.
Besides gaining a listing on the European crypto exchange, Anycoin Direct, with direct XVG to EUR trading now available, the team also announced integration of the Insight API software which makes cryptocurrencies compatible with BitPay.
XVG Coin Spikes 29% Overnight
Yesterday afternoon XVG reached a daily low of $0.
015473, with trade volumes equalling just under $10 million. What followed was a double-stepped spike that culminated in a peak of $0.020023 at around 04:00 UTC.
By that point new money had poured in to the XVG market, with trade volumes rising to $37 million – a near 280% increase in activity.
Over the course of the morning until time of publication the coin rebounded back to around the $0.019100 mark, which still leaves the coin with the strongest net gains in the market cap top one-hundred.
The past week has been favourable to XVG, with over 50% growth coming in the previous six days or so. Anyone who was around last year may remember XVG’s 3800% growth from December 1st up to December 24th – one of the biggest spikes witnessed during the bull run at the turn of the year. Verge Gets XVG/EUR Pair
The Verge team took to Twitter on Friday night to announce their coin’s listing on Anycoin Direct – an EU-based crypto exchange. As per the announcement, XVG can now be traded directly against the Euro.
“#VergeFam – Let’s welcome @anycoinDirect to the #Verge family.
Anycoindirect enabled the purchase of $ XVG with $ EUR on their European platform. They’re one of the biggest exchanges in Europe.”
The option of a EUR trading option may not seem too relevant to American investors, but in an age of online banks and multiple currency accounts, any direct crypto-to-fiat cash-out option can be taken advantage of regardless of location. Having another option on hand to quickly convert your holdings to fiat is not to be sniffed at.
As per the project’s Medium blog , another positive step has been made in connecting XVG with fiat. The Insight API used in the BitPay platform has now been made compatible with Verge, thus opening up XVG for direct crypto payments using BitPay:
“The Insight API created by BitPay under the MIT license will be used to communicate with the hosted Verge node. The blockchain REST API was originally created for Bitcoin. But as Verge, with the new upcoming codebase, will be fully compatible with Bitcoin. We can easily use the Insight software provided by BitPay.
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Featured image courtesy of Shutterstock.
Important: Never invest (trade with) money you can’t afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here . Trade recommendations and analysis are written by our analysts which might have different opinions.
Read my 6 Golden Steps to Financial Freedom here . Best regards, Jonas Borchgrevink.
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Bitcoin Cash (BCH) is out front among the leading cryptocurrencies today, boasting 15% gains in the last 24 hours on trading volume of $466 million, which reflects the most robust amount of trading in the last 30 days.
The Bitcoin Cash community has designated today “Stress Test” day and as a result, are pushing the envelope for the capacity of the Bitcoin Cash network.
But there is also a great deal of uncertainty swirling around the Bitcoin Cash community surrounding a potential hard fork of the network. Despite the community all wanting to accelerate the adoption of Bitcoin Cash as digital currency, they don’t all agree on the best way to gain scalability.
There are many moving parts to the controversy, including BitcoinABC, which is a “full node implementation of the Bitcoin Cash protocol,” Craig Wright (who once claimed to be Satoshi Nakamoto) and his company nChain, which is behind Bitcoin SV (Satoshi’s Vision), which is designed for “miners who support Bitcoin’s original vision.
” Bitcoin SV is also the potential hard fork of Bitcoin Cash in November .
But Dr. Wright is attempting to set the record straight. He said on Twitter that Bitcoin “SV will not be a separate fork” and that “there is no BCH split.” Instead, BSV is designed to operate as a competing miner [to ABC] “as per the whitepaper on hash power.” He was responding to a statement issued by cryptocurrency exchange CoinEx, which released a statement on the BCH fork claiming that Bitcoin-SV lacks a certain “protection mechanism” that could trigger “asset loss” and urging traders to deposit their BCH on the exchange. Please note, if you do as COINEX recommends – they will own all you hold and you could end with nothing.
There is NO #BCH split. SV will not be a separate fork. It will compete as per the whitepaper on hash power.
Ignore these frauds.
— Dr Craig S Wright (@ProfFaustus) September 1, 2018
Wright doesn’t appear to be making any friends with the upcoming BSV, and the rivalry appears to have spilled over between Dr.
Wright and Roger Ver, the latter of whom is a staunch supporter of Bitcoin Cash. According to Ver on a Reddit thread , a private meeting was held in Bangkok in which both Ver and Wright attended but in which Ver claimed that “Craig didn’t even attend 95% of the meeting. He left almost immediately after his own presentation.” Meanwhile, Reddit members pointed out that Ver unfollowed Wright on Twitter, in response to which Ver stated: “I didn’t unfollow him.
He blocked me.” Stress Test Day
Meanwhile, as the Bitcoin Cash developer community hashes it out about BSV, Bitcoin Cash miners are pushing the envelope to test the limits of the network’s capacity. Ver used it as an opportunity to take a shot at another rival, Bitcoin Core. Last year BTC could only process a single transaction for $50.
Today BCH is processing 35,000 transactions for $50. #StressTestBCH
— Roger Ver (@rogerkver) September 1, 2018
According to anecdotal results on Twitter, more than 1.1 million BCH transactions were processed in the early hours of the stress test. Mining pool BTC.com tweeted that it “mined a 13MB Bitcoin Cash block.” That surpasses the 10MB block reportedly mined by BMG Pool, which is of Wright’s nChain.
Featured image courtesy of Shutterstock. Important: Never invest (trade with) money you can’t afford to comfortably lose.
Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here . Trade recommendations and analysis are written by our analysts which might have different opinions.
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( 3 votes, average: 4.33 out of 5 ) You need to be a registered member to rate this. Loading… Gerelyn Terzo 4.6 stars on average, based on 49 rated posts Gerelyn has been covering ICOs and the cryptocurrency market since mid-2017. She’s also reported on fintech more broadly in addition to asset management, having previously specialized in institutional investing.
She owns some BTC and ETH. Altcoins, Tokens Follow Bitcoin Higher as Labor Day Weekend Underway
Published
The cryptocurrency market appears to be back on track after a minor correction on Thursday, with all major assets booking 24-hour gains as Labor Day weekend began. Market Update
Cryptocurrency prices have fully recovered from their most recent bottom set on Thursday, with bitcoin, altcoins and tokens pushing higher in weekend trade. The combined value of all digital currencies in circulation reached a high near $233 billion on Saturday for a gain of nearly 4%, according to CoinMarketCap. Since bottoming near $220 billion on Thursday, the market has recovered 5.5%.
Cryptocurrencies excluding bitcoin accounted for the bulk of the rally; excluding BTC, the market rose $6 billion to $110 billion.
As a result, bitcoin’s total market share dipped to 52.6% from a high of 53.3% during the previous session.
The bitcoin price continues to trade in a narrow range after re-taking the $7,000 handle on Friday. As the author reported Friday, bitcoin’s latest recovery has reduced the risk of a bearish reversal as the 50-day moving average converges on the 200-day MA.
At press time, BTC had gained 1.4% to $7,048.
For the best performing altcoins, one had to go outside the top-ten. Monero and Dash, the 11th and 12th ranked cryptos by market cap, rose double-digits on Saturday. Monero’s XMR is surging after ICO consulting group Satis predicted it would be the best performing crypto over the next ten years. XMR currently sits at $119, having gained 10.
2%.
Dash rose 14.4% to $212 amid reports of increased adoption in Venezuela, a socialist republic currently in the throes of a generational economic and humanitarian crisis. Price Variations Decline
Although 2018 has been a volatile year for cryptocurrencies, the market has shown significant progress on a number of fronts, including price consistency on major exchanges. According to SFOX, a cryptocurrency trading technology company, 2018 has seen a decline in price variations on digital currency exchanges. The firm cited growing institutional interest in cryptocurrency as the primary reason for this important shift.
“Before institutional firms were actively trading crypto or heavily involved (before 2018) bitcoin price differences between exchanges varied as high as 4.5%,” said Danny Kim, head of growth at SFOX, as reported by Business Insider .
As SFOX noted, less price variation means greater stability for digital assets such as bitcoin, which can ultimately boost adoption among merchants.
If institutional adoption is the key to declining price variability, then there’s reason to believe that the market will stabilize even further in the coming years. Last month, New York Stock Exchange operator Intercontinental Exchange announced a new crypto venture aimed at boosting adoption at the investor and consumer levels. Around the same time, Boerse Stuttgar t – Germany’s second largest stock exchange – said it will launch a new cryptocurrency platform.
According to Kim, high-frequency trading (HFT) companies could flourish in this environment as new technologies attract more speculators and market makers into the fold.
“Some HFT firms have been trading since crypto 2014, but have limited themselves because the infrastructure wasn’t there. Most if not all HFT firms require a FIX connection at an exchange in order to trade efficiently,” he said, as quoted by Business Insider. “Crypto exchanges haven’t offered FIX connectivity until recently.
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Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.
Featured image courtesy of Shutterstock. Important: Never invest (trade with) money you can’t afford to comfortably lose.
Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here . Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here .
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. Sam Bourgi 4.6 stars on average, based on 576 rated posts Sam Bourgi is Chief Editor to Hacked.com, where he specializes in cryptocurrency, economics and the broader financial markets. Sam has nearly eight years of progressive experience as an analyst, writer and financial market commentator where he has contributed to the world’s foremost newscasts. .
