Category: Cryptocurrency News

Ethereum developer Preston Van Loon encouraged GitHub to fully restore Tornado Cash’s repositories after partial unbanning.

When it comes to choosing between going into forex trading or crypto trading, there are a number of things that traders must take into account before picking one over the other. While there are traders who tend to do both, a lot of traders still go the route of picking one over the other to focus on. This report takes a look at the unique offerings provided by both crypto and forex trading, as well as the benefits associated with these highly sought-after markets. Benefits Of Forex Trading Forex trading is one of the oldest and largest forms of trading currently available. Simply put, it is the conversion of one currency to another in a bid to make money when one currency gains or loses strength against another currency. So, a trader buys a currency, say USD, waits for it to go up or down, depending on their position, and then sells for another currency. Here are the pros of forex trading. Liquidity One of the most important things when it comes to trading any type of asset is having enough liquidity. Given that the forex market is the largest in the world, recording an estimated $6.6 trillion in daily trading volume, there is a lot of liquidity in the market. This means that there is a good depth of market across the available trading pairs. Leverage Leverage is something that is abundant in the forex market. Forex brokers are able to give incredibly high leverage to forex currency trading pairs due to the low volatility in the market. In some cases, leverage can go as high as 30:1, allowing traders to trade larger amounts than they have in their accounts. So, using leverage, traders can open larger positions than they hold in their balances. Photo by Marga Santoso on Unsplash Low Trading Cost Another important thing when it comes to forex trading is the significantly low trading costs associated with it. Forex traders tend to pay what is known as a ‘spread’ and/or a ‘commission’ of about 1 pip for each trade completed. This 1 pip translates to roughly 0.08% of the trade. Diverse Options There is an abundance of trading pairs to choose from in forex trading. Traders can choose to trade across major pairs, minor pairs, or lesser-known pairs/exotic pairs. There is simply something for every trader in the market. Stability The stability of the forex market is also a big draw for traders. Now, the market carries its own risk, but since it is not as volatile as cryptocurrencies, there are no wide fluctuations that can quickly wipe out an entire portfolio in a matter of minutes or seconds, thanks to the large volume of trades recorded in the forex market. Benefits of Crypto Trading The crypto market is still relatively new but has grown rapidly in popularity among investors. The assets in the market are produced by a large variety of individuals and entities and, in some cases, are completely decentralized using blockchain technology. The pull of the crypto market towards traders gets stronger each day, and here are the reasons why. High Volatility The high volatility present in the crypto market has made it very enticing for traders who desire larger margins when it comes to trading. A lot of the assets in the crypto market are not regulated by an entity. Hence, they tend to fluctuate wildly in price. These fluctuations present an opportunity for traders to make a lot of money in a short time. However, it also significantly increases the risk of traders losing their positions in one fell swoop. Photo: Pixabay Low Barrier to Entry Unlike forex trading, traders do not need to go through a broker to be able to trade. Instead, they can just open an account in a centralized exchange, deposit some money, and get started. Traders can also have direct access to the market through decentralized exchanges where they can deal directly with other traders without interference from a third party. The Market Is Always Open Cryptocurrencies do not have what is referred to as “trading hours.” Simply put, the market is always open, and traders can execute trades no matter what time or what day it is. This ‘always open’ feature is a huge pull for traders who do not wish to be restricted to certain hours or days of the week. Conclusion Picking between crypto trading and forex trading is usually up to the discretion of the trader. However, platforms such as Oanda have made forex trading easy, even for beginners. The platform offers a demo account where traders can learn and sharpen their skills before moving on to a live account. The platform is one of the fastest and most reliable forex trading sites, featuring more than 65 popular indicators to help traders pinpoint forex price trends.     Image by Sergei Tokmakov, Esq. Terms.Law from Pixabay  

The U.S. dollar value of the recently airdropped coin native to the forked Ethereum proof-of-work (PoW) blockchain will be at par with that of ether, Chandler Guo, the instigator of the latest Ethereum hard fork, has said. Guo added that he expects the value of the token, which is currently “very cheap,” to grow by […]

As expected, Ethereum has been doing poorly since the much-touted Merge event. This was a groundbreaking moment for the crypto industry. Although the Merge was anticipated to boost investor confidence, it occurred at the worst possible time. The Merge took place at an interesting point in crypto history. The update went up on September 15—just two days after the United States CPI data was made public. There was a widespread selloff in the stock markets because of the Federal Reserve’s interest rate increase, reporting its annual inflation rate hike of 0.1%, and affecting the cryptocurrency market. On the day of publication, Bitcoin dropped 12.71 percent, and Ethereum fell 12.67 percent. The timing of the Merge’s launch was a last-ditch effort to maintain or perhaps boost investors’ trust. However, that did not actually occur. Related Reading: Polygon (MATIC) Downward Trajectory Faces Resistance At $0.94 Level Ethereum (ETH) Price Down 21% When everything was said and done, the Ether’s price had dropped by 21.1% compared to its 7-day moving average, as measured by CoinGecko. But @CryptoGucci, a Twitter user, disputes this. One Twitter user explained why the recent price decline shouldn’t be worrying. The increasing prevalence of Ethereum validators on the blockchain is a prime example. This increase in validators can improve the Ethereum blockchain’s overall efficiency. Additionally, the state of Colorado has accepted ETH as a payment method through PayPal. However, this payment method is exclusive to personal PayPal accounts and not commercial ones. Nonetheless, this will undoubtedly aid the adoption of the ETH ecosystem. Is An ETH Recovery Imminent? Recent data indicate that ETH is witnessing a positive price increase. After a near-freefall to $1,243, the price has rebounded and is currently trading between $1,221 and $1,323. Multiple indicators also depict a strengthening bullish momentum. Since the decline to the critical support level, stochastic relative strength index (RSI) values have risen, indicating that investor confidence is rebounding after a dreadful few days. But are new changes sufficient to halt the current 0.75 percent interest rate increase? As the cryptocurrency market closely mirrors the broader financial environment, the recent movements may be temporary. Wall Street’s indices have declined by a few percentage points as of this writing, and this decline can have a significant impact on the cryptocurrency market. As the third fiscal quarter draws to a close, Ethereum may experience a slow but gradual comeback. Related Reading: Aave (AAVE) Attracting Whales Over Past Few Months – Will It Spur Price Rally? ETH total market cap at $163.7 billion on the daily chart | Source: TradingView.com Featured image from CryptoMode, Chart: TradingView.com (The analysis represents the author’s personal views and should not be construed as investment advice).

Specifications on Zilliqa’s “user-friendly” console are yet to be revealed, but a prototype design resembling an Xbox console has been released.

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Ethereum started an upside correction above $1,250 against the US Dollar, following XRP rally. ETH could gain bullish momentum if it clears the $1,400 resistance. Ethereum started a recovery wave above the $1,250 and $1,300 levels. The price is now trading above $1,300 and the 100 hourly simple moving average. There is a major bearish trend line forming with resistance near $1,385 on the hourly chart of ETH/USD (data feed via Kraken). The pair could recover further it clears the key $1,400 resistance zone. Ethereum Price Recovers Ethereum managed to stay above the $1,220 support zone. ETH started an upside correction above the $1,250 level after ripple’s xrp started a strong upward move. Ether price was able to clear the $1,260 and $1,280 resistance levels. There was a break above the 50% Fib retracement level of the downward move from the $1,420 swing high to $1,220 low. It is now trading above $1,300 and the 100 hourly simple moving average. It seems like the price is trading in a positive zone above the $1,320 level. On the upside, the price is facing resistance near the $1,380 level. There is also a major bearish trend line forming with resistance near $1,385 on the hourly chart of ETH/USD. The trend line is near the 76.4% Fib retracement level of the downward move from the $1,420 swing high to $1,220 low. Source: ETHUSD on TradingView.com The next major resistance is near $1,400 level. A clear break above $1,400 might start a decent increase towards the $1,450 level. Any more gains may perhaps open the doors for a move towards the $1,500 resistance. Fresh Decline in ETH? If ethereum fails to recover above the $1,400 resistance, it could start a fresh decline. An initial support on the downside is near the $1,330 zone and the 100 hourly simple moving average. The next major support is near the $1,288 level. A downside break below the $1,288 support might spark another sharp decline. In the stated case, ether price might drop towards the $1,220 level in the near term.  Any more losses could increase selling and the price might drop to $1,150. Technical Indicators Hourly MACD – The MACD for ETH/USD is now gaining momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 level. Major Support Level – $1,288 Major Resistance Level – $1,400

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Compute North’s hosting partners Compass Mining have stated that the firm will continue to operate business as usual at this stage.