Crypto Market Wrap: Litecoin Lifts Markets as $8 Billion Returns Crypto markets back in the green today; Litecoin still climbing, ETH doing well, XRP, XLM and NEO flat. Market Wrap A lot of traders expected Monday’s red start to the week to continue and accelerate losses into Tuesday. As a testament to how fickle and volatile crypto markets can be the opposite has occurred pumping $8 billion back into the space. Total market cap is back above $250 billion again and green is the dominant colour on the crypto charts. Bitcoin made another one of its ‘Bart Simpson’ chart patterns late yesterday as it spiked around $400 in less than two hours. The move sent BTC surging from $7,650 to just above $8,000 which keeps it range bound on the week for now. Since the spike BTC has retreated back below $8k but has held gains giving it a 3.3 percent rise on the day. Ethereum mirrored the move jumping 4 percent back to $245. ETH remains coupled to its bigger brother so the next direction is likely to be dictated from above. The top ten is all in the green during today’s Asian trading session. One clear winner has emerged though as yet again Litecoin surges double digits. The halving fomo is keeping LTC strong as it pumps another 10 percent to reach $128. The rest are making 2-3 percent aside from XRP and XLM which are still static. Top twenty movements are similar with privacy coins Monero and Dash doing the best gaining over 3 percent. The rest are up marginally on the day as Bitcoin leads them forwards again.

Announcing CryptoSlate Research — gain an analytical edge with in-depth crypto insight. Learn more. ETHEREUM Ethereum fundamentals showing strong growth, healthy on-chain metrics Priyeshu Garg Priyeshu Garg · 17 hours ago · 3 min read Ethereum fundamentals showing strong growth, healthy on-chain metrics Ethereum seems to be having a great year so far with some fundamental metrics hitting multi-month highs over the past week. Everything from the number of transactions per day to amounts raised via token sale are getting closer to all-time highs, which points to a steady increase in the platform’s popularity. Ethereum’s on-chain metrics the highest they’ve been in months Although ETH prices are down 85 percent since its all-time high in December 2017, Ethereum seems to be recovering better than many other cryptocurrencies. Apart from a steady rise in the price of ether, the network has seen every single one of its on-chain metrics increase in the past few months. While some of these improvements follow the overall improvement in the crypto market stemming from the recent bull market, most are a direct result of an increased interest in Ethereum itself. According to data from Etherscan, the number of on-chain transactions per day has increased to almost 910,000 in the past week—up from a yearly low of 430,000 in February. ethereum transaction chart (Source: The average transaction value per day has also significantly increased to almost $1,000, up from the yearly low of $388 in February. The increase in the number and average value of transactions has also led to a decrease in transaction fees. The average transaction fee now stands at around $0.17, which is lower than it has ever been in 2018. Data shows bull market already here, but dApps lag behind the progress According to data from CoinMetrics, the number of monthly active addresses on Ethereum reached a new nine-month high. Monthly active addresses (MAA) are up from their yearly low of 192,000 in February to nearly 310,000 in May. This is still down from January last year when there were over 580,000 MAAs. ethereum active addresses (Source: However, regulatory tension around coin offerings has had a direct impact on the ecosystem. CoinSchedule found that there has been a decrease in ICOs this year; by June 5, 133 ICOs raised around $2.3 billion. When compared with the $2.15 billion that was raised in January 2018 alone, the data shows that the ICO market has slowed down significantly. ethereum amount in USD (Source: The decrease in the amount of funds raised from ICOs directly correlates with a decrease in dApp usage. Almost 87 percent of the 1,508 ETH dApps have had zero users in the past 7 days, data from DappRadar has shown. Ethereum also has fewer users and transactions than EOS (EOS) and Tron (TRX), which is mostly due to the fact that the latter do not charge transaction fees. Almost 1,000 developers have contributed a cumulative 28,000 commits to the ETH project in 200 GitHub repos over the past year. While more commits do not directly correlate to greater development progress, the high level of developer activity does indicate that there is a strong interest in the platform. While the currently bearish ETH/USD pair may still see a correction this year, these metrics point to steady growth for 2019.

Following the wind-down of the bull market of 2017, crypto is still undergoing some fascinating developments. A key one that grabbed even mainstream headlines? Facebook’s announcement that they too, want to foray into issuing coins. The crypto, part of something Facebook calls Project Libra, and is slated to launch on June 18. Facebook has a rumoured 50 engineers working on this project, according to some sources familiar with the project if flurry of job listings is any sign. Facebook is not alone in this, as messaging platform Telegram and Signal have announced intentions to roll out cryptocurrencies over the next year too. This time around, Facebook is keeping its cards so close to its chest that it’s said that even employees working in the same building don’t know what’s going on—the team in-the-know about the blockchain project has a separate key-card access. Despite its hush-hush nature, there has been quite a bit of information that’s trickled out about the Facebook coin, such as:

Bitcoin (BTC) Still In Parabola, Could Soon Hit $11,000 If Trend Holds What’s Next For Bitcoin? For one reason or another, the past few weeks have seen Bitcoin (BTC) and its ilk freeze. The cryptocurrency market has been stuck in an odd holding pattern, whereas volatility has fallen, trading ranges have been established, and volume has begun to diminish. There is an argument to be made that Bitcoin is about to skyrocket higher though. In a recent tweet, Tuur Demeester, a partner at Adamant Capital that recently penned a great report on the cryptocurrency market, drew attention to a “bullish short-term scenario” for BTC. Seen below, Demeester notes that Bitcoin continues to hold in a bullish parabola, which has acted as support for BTC since December 13th’s jaw-dropping bottom. In fact, the asset touched the parabola in February, late-March, early-April (to kick off the current rally), throughout early-May, and just last week. If this trend continues, the Adamant representative suggests that Bitcoin could rally by 50% — around $3,600 — from current levels to hit $11,000 by early-June. While this sounds a bit zany, especially considering that buying volume has begun to decline, there are other analysts that think BTC could easily hit five digits in the current foray higher.

Cardano is one of the most effective and profitable blockchain platforms, Says Weiss Ratings Cardano ADA Weiss Ratings Weiss Ratings, an independent financial rating agency appears to be very fond of Cardano (ADA), the smart contract platform built on peer-reviewed academic research. On May 20, the popular rating agency praised Cardano in a tweet stating that it’s one of the best projects in the crypto space and is also a steal of a deal right now. These words from Weiss are being taken as a serious compliment as they are a respected agency in the space with leading analysts and researchers working under their wing. However, not everyone shares the same opinions as Weiss Ratings. If you scroll through the comments of Weiss’s tweet, a large number of users are in disbelief that Weiss said this. They claim that Cardano is only good on paper because they have failed to deliver a working product with adoption as opposed to Ethereum. Is Cardano One of the Best? Whether you agree with Weiss Ratings or not, Cardano may very well be one of the most undervalued cryptos if it does end up accomplishing what it sets out to accomplish. While their development may be slow, the team behind Cardano has a very positive reputation and are building things right from the get-go. Also, the founder of Cardano, Charles Hoskinson has been establishing a number of new partnerships with governments and entities in developing countries such as Africa and Mongolia. He is setting Cardano up to be an enterprise blockchain framework that will offer better financial services to people and solve real-world problems. Therefore, Cardano has a lot of potential if they can deliver on what they’re setting out to accomplish. Whether they’re one of the best projects in the space is one up for debate. However, they very well could become one of the best and therefore, maybe Cardano (ADA) is currently undervalued at around $0.08.

Top 10 trending phones of week 21 27 May 2019 Week 21 is sort of a transition week, as it still feels the aftermath of the series of high-profile launches from Week 20, adds a couple phones of its own as well as one that will only go official next week. The OnePlus 7 Pro was unable to retain its popularity over the week following the one of its launch, and gave the first spot back to the Samsung Galaxy A50. The Asus Zenfone 6 on the other hand kept climbing and completed the podium. Honor 20 Pro debuted on Tuesday and shot straight to the fourth spot. What makes this particularly impressive is that it was achieved despite Huawei’s troubles with US authorities and the uncertain future of the phone itself. Samsung Galaxy A70 sits in fifth, ahead of the Redmi K20 Pro – the upcoming “flagship killer” that should debut next week. Two more Xiaomi phones follow – the Redmi Note 7 and its replacement in the Indian market – Redmi Note 7S. Huawei P30 Pro takes ninth, just ahead of another H1 2019 flagship and the third Samsung phone on the list – the Galaxy S10+. This leaves the OnePlus 7, Realme X and the Huawei P30 lite outside the top 10 this week.

It’s Confirmed: Facebook Coin Set for Release in 2020 It’s official. Facebook coin is set to be released in 2020, but a few more interesting details have emerged. Facebook Is Going “Global” Originally, Facebook Coin was simply going to be a currency that could be used to purchase goods and services through Facebook’s WhatsApp messenger system. In addition, the social media platform was building what was called the “Libra Network,” which would allow users to purchase items through or from other merchants that featured Facebook login options. But if there’s one thing we can all say about Facebook, it’s that it’s ambitious. It’s not happy being a simple social media platform, and it’s consistently looking for ways to push the boundaries and potentially boost its presence throughout the tech space. That’s why the new Facebook Coin will be classified as a “global coin.” In other words, it can be used in multiple countries around the world without the risk of volatility, inflation or other problems. Facebook is hoping to start testing the currency by the end of the year, with several countries using it by the time 2020 rolls along. At press time, very little is known about the specific properties of the coin other than the idea that it will be a stable currency. It will be tied to the U.S. dollar, so those who use it can expect to avoid the price swings one often experiences with mainstream cryptocurrencies such as bitcoin, Ethereum and bitcoin cash. More details regarding the coin’s technical prospects are expected to emerge sometime this summer. Facebook has been working on the coin since December 2018, when it first began developing its new blockchain division. One thing that can be said is that the company is working quickly, and for that, some admiration is called for. It could have easily gotten hung up on the many executives that exited the company over the past few months or even the Cambridge Analytica scandal that has arguably put a permanent dent in the company’s reputation. No. It’s clearly decided to move on, focusing more on a privacy-oriented structure and turning its attention to an area nobody saw coming… cryptocurrency. Since announcing Facebook Coin, the enterprise has sought over $1 billion in funding from interested tech investors and even consulted with the Winklevoss Twins of “The Social Network” fame.

Notably, the price rally was also accompanied by a large uptick in the 24-hour trading volume, an increase of $10.3 billion was added overall, according to data from CoinMarketCap. However, its “Real 10” volume – a metric that takes into account trading volume from exchanges reporting honest volume figures as identified in a report by Bitwise Asset Management – currently stands at $3.1 billion, according to Meanwhile, other highly ranked cryptocurrencies like EOS, Ether (ETH), XRP, and litecoin (LTC) have gained between 5.3 to 5.8 percent each on a 24-hour basis, according to CoinMarketCap. What’s more, the total market capitalization has risen to a high of $268.1 billion its highest point since August 3, 2018 while the market capitalization for altcoins is up $6 billion, a sign of continued funding and investment for cryptocurrencies overall. Eyes are now firmly set on bitcoin’s new target along $9,650 resistance, last seen 13 months ago on April 30, 2018, signaling a very strong upward move beyond the $10,000 psychological price tag.

Last Friday the US Commerce Department added Huawei to the “Entity List”, aka the blacklist. Essentially, this meant that US companies are banned from exporting hardware and software to Huawei. The full impact of this became clear just days later. Over the weekend Google suspended Huawei’s access to its services – Huawei can still use Android AOSP, but not the Play Store or other Google-run services. Existing devices devices will keep working and even receiving security updates. On Monday, the US decided to delay the ban by 90 days. A few days earlier Huawei announced that it has stockpiled chips and vital components enough to last it three months. It’s not clear if this means that the company can continue selling phones in the short term. The Honor 20 and 20 Pro were announced on Tuesday, but a release date has not been set. That same day the Huawei Mate 20 Pro was pulled from the Android 10 Q beta program, so major OS updates are on hold (again, security updates should continue to be released). On Wednesday, ARM cut ties with Huawei. The company’s Kirin chipsets use ARM cores for both the CPU and GPU (Cortex and Mali), ARM designs are also used in the company’s 5G network chips. On Thursday, TSMC announced it will continue fabbing Huawei chips. Also, a source told the BBC that the Kirin 985 isn’t affected by the ban, at least not directly. Indirectly, there’s no phone to put it in (the Mate 20 would likely have been the debut of the 985 chip). If the US takes Huawei off the Entity List in the next few weeks, everything should return to normal. Well, not quite – Huawei will certainly step up its efforts on reducing its dependence on US hardware and software. It’s already working on an OS in house. If the ban remains in place for longer, Huawei will certainly be hurt and it may be hard to recover – its rivals will quickly take over any lost market share outside of China. Huawei will lose revenue. And if this takes several months to resolve, Huawei’s business outside of China may be over. Clearly, the company will keep operating in its home country. However, its smartphone, laptop and network equipment business abroad may not recover. Here’s a quick rundown of other companies that stopped shipments to Huawei. The company may find some local alternatives (e.g. BOE displays), but it will be hard to replace everything. EE is launching the first 5G network in the UK on May 30, but it abandoned plans to sell Huawei 5G phones. Vodafone similarly paused pre-orders for the Huawei Mate 20 X (5G). Japanese carriers KDDI, NTT Docomo and SoftBank have delayed the launch of new Huawei phones (by the way, SoftBank owns ARM). Huawei was kicked out of the SD Association, meaning it can’t release new models with a microSD slot. It does have its own NM card format, but those are manufactured by Toshiba and Toshiba just stopped shipments to Huawei. Panasonic also suspended trade with Huawei. Intel, Qualcomm, Xilinx and Broadcom have also halted shipments to Huawei. This hurts not just the company’s smartphone business, but its PC and server operations as well. Memory maker Infineon was reported to have cut ties with the smartphone maker too, but the company has denied that. Huawei is protesting the US Commerce Department’s decision and claims it has backup plans in place. However, a lot happened in the span of a week and it has hurt not just Huawei but its US partners too. What happens next will be one for the history books.