Another day of inactivity and consolidation for Bitcoin has kept the king of crypto just above support. Its lethargy has resulted in another dip in market share as a few of the altcoins start to make bigger moves. Ripple’s XRP, Stellar Lumens and 0x are among them.Bitcoin Dominance Dip Good For XRPA couple of very brief touches of $8,400 was all that BTC could muster over the past 24 hours. Clearly there are too many bears lurking here and resistance is proving too strong for another day. On the low side XRP price October 2019 – Tradingview.comWhat should be noted however is that even after this increase, the Ripple token is still down 15% since the beginning of the year so has a long way to go.The upcoming Ripple Swell event in Singapore early this month appears to be driving momentum as it has done in previous years. The gathering of Ripple executives and XRP advocates is the most bullish event of the year for the company and its token deserves some long awaited love.There is a massive wall of resistance at $0.30 which is currently being tested, but a break of this could see a bigger pump for XRP.Stellar, 0x Lifting OffAs usual when XRP moves, its little sister follows. XLM has made 8% over the past 24 hours as it climbs to $0.065, however it too is way down from previous highs and has a long way to go. Stellar momentum is likely to mimic Ripple’s as the two tokens often move in tandem.There is little fundamentally driving XLM at the moment so the Swell event could be beneficial to it too. Stellar is currently ranked tenth in terms of market cap which has reached $1.3 billion today.Today’s other big mover is ZRX which has made a larger 10% jump to reach $0.337. Daily volume for the DEX protocol token has doubled to $64 million as it creeps back up the market cap charts outperforming those around it. Plenty of updates were announced at Devcon 5 as development on the protocol continues.Bitcoin’s slowdown is finally starting to benefit some of the altcoins with XRP, XLM and ZRX leading the way today.Image from Shutterstock
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Author: Martin Young
Ripple price is climbing higher and it recently surpassed the $0.2950 resistance against the US dollar.The price is moving towards $0.3000 and it could rally sharply above $0.3020.There is a rising channel forming with support near $0.2940 on the hourly chart of the XRP/USD pair (data source from Kraken).The price could dip a few points, but it remains well supported near $0.2940 and $0.2860.Ripple price is rising steadily against the US Dollar, Looking at the chart, ripple price is clearly trading in an uptrend and is gaining momentum above $0.2920. The next stops are near the $0.3000 and $0.3020 levels. Besides, Ethereum is also climbing higher, but bitcoin is struggling to clear the $8,350 and $8,400 resistances.Technical IndicatorsHourly MACD – The MACD for XRP/USD is gaining strength in the bullish zone.Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now well above the 60 level.Major Support Levels – $0.2960, $0.2940 and $0.2860.Major Resistance Levels – $0.3000, $0.3020 and $0.3050.
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Author: Aayush Jindal
Ethereum price climbed above the key $185 resistance area against the US Dollar.Bitcoin price is still struggling to recover and is facing a strong resistance near $8,400.There was a break above a major bearish trend line with resistance near $183 on the hourly chart of ETH/USD (data feed via Kraken).The pair is currently consolidating above $185 and it could rise towards $192 or $195.Ethereum price is showing positive signs versus the US Dollar and Looking at the chart, Ethereum price is showing positive signs above the $185 level, while bitcoin is still facing a strong resistance near $8,400. As long as ETH is above $184, there are chances of more gains in the near term. The bulls are likely to target $192 or $195. Conversely, the price could revisit $178 if it breaks $184.ETH Technical IndicatorsHourly MACD – The MACD for ETH/USD is slowly moving into the bearish zone.Hourly RSI – The RSI for ETH/USD is currently correcting lower towards the 50 level.Major Support Level – $184Major Resistance Level – $192
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Author: Aayush Jindal
Grayscale Investments has received regulatory approval to publicly quote shares of its diversified crypto fund. The product, which is the firm’s only diversified offering, invests in five main cryptocurrencies. In addition, the firm offers nine single-asset investment funds, some of which are also quoted publicly.
Fund Gains FINRA Approval
Digital currency asset manager Grayscale Investments announced Monday that shares of its diversified crypto fund have been approved for public quotation by the U.S. Financial Industry Regulatory Authority (FINRA), a government-authorized nonprofit organization that oversees U.S. broker-dealers. Shares of Grayscale Digital Large Cap Fund (DLC) will be quoted under the symbol GDLCF on OTC markets. The company stated:
This marks the introduction of the first publicly-quoted security in the U.S. deriving value from a diverse selection of digital currencies.
DLC is an open-ended fund which “provides exposure to the top liquid digital assets through a market cap-weighted portfolio,” the firm described. As of Sept. 30, its components were a basket of five cryptocurrencies: 80.3% BTC, 9.9% ETH, 5.8% XRP, 2.2% BCH, and 1.8% LTC. The fund aims to cover 70% of the crypto market, and its components are reviewed on a quarterly basis. It currently has $15.7 million in assets under management and 3,194,900 outstanding shares.
The fund has been offered as a private placement to accredited investors since February last year. “Shares created through DLC’s private placement become eligible to sell into the public market after a statutory one-year holding period under Rule 144 of the Securities Act,” the firm clarified.
Besides the aforementioned diversified product, Grayscale offers various single-asset investment funds that provide exposure to BTC, BCH, ETH, ETC, ZEN, LTC, XLM, XRP, and ZEC. As of Sept. 30, the firm managed approximately $2.1 billion in assets.
Grayscale clarified that DLC is its fourth publicly-quoted investment product available to all investors with access to U.S. securities. The others are Bitcoin Trust (OTCQX: GBTC), Ethereum Trust (OTCQX: ETHE), and Ethereum Classic Trust (OTCQX: ETCG). Other investment funds are available to institutional and individual accredited investors.
None of the funds are registered with the Securities and Exchange Commission (SEC), which has yet to approve the first bitcoin exchange-traded fund (ETF). Last week, the commission rejected the last high-profile proposal it was evaluating, which was filed by NYSE Arca Inc. for the Bitwise Bitcoin ETF. Earlier this month, Cboe BZX Exchange Inc. withdrew its proposal for the Vaneck Solidx Bitcoin Trust, which is now offered under Rule 144A.
What do you think of Grayscale’s crypto funds? Let us know in the comments section below.
Disclaimer: This article is for informational purposes only. It is not an offer or solicitation of an offer to buy or sell, or as a recommendation, endorsement, or sponsorship of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Images courtesy of Shutterstock and Grayscale.
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Author: Kevin Helms
The M6 Group, France’s largest privately-owned multimedia group, was the victim of ransomware over the weekend, but none of the company’s TV and radio channels suffered any downtime.
The incident took place on Saturday morning, according to a message the company posted on its official Twitter account.
The M6 Group said they managed to contain the infection with the help of its cybersecurity staff, preventing any downtime to any of its ten TV channels, radio stations, and film studios.
However, according to French newspaper L’Express, the company did not escape the incident unscathed, with phone lines and email servers still being down today, on Monday.
In hindsight, the French TV station dodged a major bullet and should be thanking its staff for the prompt response that limited the ransomware’s impact.
For example, The Weather Channel went off the air for 90 minutes in April this year following a similar ransomware incident.
Similarly, CBS-owned Entercom, the biggest radio broadcaster in the US, also suffered a similar incident. None of the company’s radio stations went off the air, but the ransomware infection took email servers and internal networks offline for almost two weeks.
Nevertheless, none of these two incidents were on the M6 team’s mind when they first responded to the malware incident on Saturday.
French TV stations live in horror of the TV5 Monde cyber-attack repeating. On April 8, 2015, Russian hackers breached the TV station’s network, took its live feed down for hours, defaced its website and social media account, and came within hours of destroying the TV network’s data, according to the TV5 Monde boss.
The hack was initially claimed by an ISIS-linked hacker group known as the Cyber Caliphate, but was later attributed to one of Russia’s elite cyber-espionage teams known as Fancy Bear.
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Author: Team E-crypto News