Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Cardano, Stellar, IOTA, TRON: Price Analysis, July 16

Latest technical analysis of top 9 cryptocurrencies from an expert trader.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

The market data is provided by the HitBTC exchange.

When a new asset class resists even after facing numerous hurdles, it forces the asset managers to pay attention and recognize it. We have seen JP Morgan, Goldman Sachs and a few others have already walked down that path.

The latest to consider investing in cryptocurrencies is BlackRock, the world’s largest asset manager with about $6.3 trillion under management. The company is forming a working group to look into Bitcoin’s potential, despite its CEO Larry Fink’s statement that “any client has sought out crypto exposure.”

As the markets bottom out, we might propose long positions on most of the virtual currencies we track, but it’s crucial to do your own due diligence.

So, what cryptocurrencies have bottomed out? Let’s find out.

BTC/USD

Bitcoin is leading the recovery from the front. It has bounced sharply from its recent lows of $6,120.45. The probability of a bullish inverse head and shoulders (H&S) pattern is still alive.  The inverted H&S will complete on a breakout and close above the neckline at $6,953.38. This gives it a pattern target of $7,996.11.

BTC

Once the BTC/USD pair scales above the $7,000 levels, it doesn’t have any significant resistance until $7,750.

The digital currency will pick up momentum above the downtrend line, which will invalidate a bearish descending triangle pattern. Failure of a bearish pattern is a bullish sign and can result in a rally to $10,000 in the medium-term.

The rallies this year will be much more muted when compared to the scorching rally in 2017. Hence, the investors should be patient and ready for a volatile ride. Therefore, please keep the position sizes small until a clear uptrend begins.

The stops on the long positions initiated at $6,650 can be maintained at $5,900.

ETH/USD

Ethereum looks strong as it has broken out of the 20-day EMA. It can now rally to the overhead resistance at $496.36 where we expect another round of selling by the bears.

ETH

If the bulls scale above $500, a rally to $600 is probable with a minor resistance at $550. Therefore, we suggest a long position above $500 with the stops below the recent lows at $400. The traders can raise their stops to break even if the ETH/USD pair struggles to break out of $550.

Though the risk to reward ratio is not very attractive, we are going ahead with the recommendation because Ethereum has been an outperformer, as it has stayed well above its April lows. Hence, we expect it to quickly move up towards its target levels.

XRP/USD

The bears have failed to benefit from the breakdown of the $0.45351 levels on Ripple. This has attracted cherry-picking by a few aggressive bulls.

XRP

The XRP/USD pair has reached the 20-day EMA, which might act as resistance. Above this, the next hurdle will be at $0.5 and finally at $0.56270.

The digital currency has been a huge underperformer. That’s why we need to wait for it to form a new buy setup before recommending any trade on it.

BCH/USD

Bitcoin Cash has rebounded from the $669 levels and has broken out of the 20-day EMA. It can now move up to the downtrend line, which will act as resistance.

BCH

If the bulls break out of the downtrend line and the overhead resistance at $838.9139, the BCH/USD pair should move up to $1,200 with minor resistances at $934.2316.

The traders can buy if the bulls sustain above $850 for four hours and keep a stop below the recent lows; the digital currency has a history surprising traders with vertical rallies.

Our positive view will be invalidated if the bears sink Bitcoin Cash below the $657 levels.

EOS/USD

EOS has bounced off the $6.55 levels and has reached the downtrend line. The 20-day EMA is also located just above the moving average. We expect strong resistance by the bears at this level.

EOS

If the bulls break out of this, we might see a move to $9.4456, where the EOS/USD pair will again face strong selling pressure.

We propose long positions once the digital currency sustains above $9.4456 levels. The pattern target of this trade is $11.9986. If the bulls scale above this, a rally to $15 is likely.

LTC/USD

Litecoin has pulled back to the 20-day EMA, which is major resistance. The bulls have not been able to break out of this moving average since May 10 of this year.

LTC

If the LTC/USD pair breaks out of the 20-day EMA, it can rise to the $91.146. A breakout of this level will complete a double bottom pattern, which has a target of $108.

However, we anticipate the digital currency to face stiff resistance in the zone of $102-$107. We’ll wait for the bulls to sustain above $107 before suggesting any long positions. Our bullish assumption will be invalidated if the bears break down below $74.

ADA/USD

The failure of the bears to break below the $0.13 levels has attracted buying near the lows. Subsequently, Cardano has scaled above the 20-day EMA and is close to the 50-day SMA.  

ADA

We believe a breakout above the overhead resistance of $0.161413 can result in a rally to $0.23.

Therefore, the traders can buy if the ADA/USD pair sustains the breakout above $0.162 for four hours. The stop loss for the trade can be kept at $0.11.

If the bulls struggle to scale above $0.181617 levels, the traders can raise the stops to break even to reduce the risk. But the investors can hold their trades because they can expect a rally to $0.43 in the long-term.

XLM/USD

Stellar has rebounded sharply from the lows and has reached the 50-day SMA, which is offering some resistance.

XLM

The XLM/USD pair might face selling in the zone of $0.243-$0.2544. Once this zone is crossed, a rally to $0.30 is likely.

As the bulls have defended the bottom of the large range, we anticipate a move to the top of the range in the long-term. Therefore, long-term investors can buy around $0.255 with a stop below the June 29 lows, with a target of $0.477.

The traders should wait for a minor dip or consolidation to form around the $0.255 levels and then buy the breakout of it. That will provide them with a closer stop loss, keeping the risk to reward ratio favorable.

IOTA/USD

The stop loss on the long position recommended earlier has not been hit, as the bulls defended the $0.9150 levels on IOTA.

IOTA

The downtrend line might act as resistance during the pullback but if this level is crossed, the IOTA/USD pair can move up to 1.2579.

We anticipate some selling pressure between $1.2579-$1.33. Once this resistance zone is crossed, a rally to $2 should be on the cards.

Therefore, traders are suggested to hold their long positions with the stops at $0.8850. We shall trail them higher at the first available opportunity.  

TRX/USD

Tron is trying to bounce off the support levels at $0.03275. It has pulled back to the 20-day EMA, which is likely to offer strong resistance. The bulls have not been able to scale this moving average convincingly since May 22 of this year.  

TRX

So, a breakout of the 20-day EMA will be the first indication that the downtrend is losing steam.

We’ll turn positive after the TRX/USD pair breaks out of the downtrend line. Our bullish view will be invalidated if the prices turn down around either from the 20-day EMA or the downtrend line and sink below $0.03275.

The market data is provided by the HitBTC exchange. The charts for the analysis are provided by TradingView.

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Stellar Price: Major Gains cap off Solid Week

Sundays are always interesting days for the cryptocurrency industry. Although it usually results in a fair amount of negative market pressure, this Sunday proves to be very different. The Stellar price continues to rise at an accelerated pace, as it continues a week-long uptrend without too many setbacks.

Stellar Price Peaks Above $0.215

Just a few days ago, it became apparent the Stellar price was on the right track. After a brief spell of continued upward momentum, the Stellar price maintained its value at $0.18 with relative ease. That trend has only continued ever since, as the XLM value is still rising as of right now. With a current price of $0.217,  things are looking pretty good for this asset.

Over the past 24 hours, there has been another 9.4% Stellar price increase. That in itself is rather spectacular, even though it is mainly fueled by the current positive Bitcoin price trend. If Bitcoin was losing value, very few currencies would effectively see a value increase, but Stellar is doing quite well on its own. If this rate keeps up, it’s not unlikely to expect a Stellar price of $0.25 in a few days’ time.

As one would come to expect from this current Stellar price momentum, the current situation is facilitated by an increase in the XLM/BTC department. That trading ratio has seen a strong 7.14% increase over the past 24 hours, further indicating the demand to buy and sell XLM is rising as of right now. Whether or not that is effectively a sustainable long-term situation, is very difficult to predict at this time.

All of this positive Stellar price momentum is occurring despite very low overall trading volume. Although a volume of $47.58m is not bad by any means, it is virtually nothing compared to what one would expect based on the current Stellar momentum. Even so, it is more than sufficient to keep this trend going, albeit the situation may come to change in the coming days.

Similar to earlier this week, Binance is the leading exchange ranked by trading volume. Its BTC and USDT pairs generate over 38.7% of all trades. BCEX’s CKUSD pair is in third place, followed by two BTC pairs by CoinEgg and BCEX. All of these markets are quite interesting for the current XLM momentum, although there is not necessarily a lot of fresh capital entering the market.

Whether or not the Stellar price can continue to rise, is a very different matter. Sundays are very different days compared to the rest of the week, as they are not a correct representation of cryptocurrency market sentiment. Once things return to normal on Monday, the situation may look very different for XLM and all other markets.

Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Cardano, Stellar, IOTA, TRON: Price Analysis, July 13

As some investors are leaving crypto, large institutional players are moving in, as they see value around the current price levels.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

The market data is provided by the HitBTC exchange.

Recommending investors to sell their Bitcoin in December of last year was against the general consensus, especially considering the lofty numbers that we were seeing back then. Similarly, telling investors to buy Bitcoin now, during sharp declines and in batches is against the prevailing negative sentiment.

Can we pinpoint the exact top and bottom? Definitely not.

But, the readers who followed us and sold close to the highs were spared this scarring bear market. Similarly, readers who start building a position now will not miss the boat when the next bull run begins.

We are noticing that while the retail investors are turning away from cryptocurrencies, larger – mostly institutional – players are showing greater interest in entering this space.

The latest such player to jump onto the cryptocurrency bandwagon was the hedge fund billionaire Steve Cohen who has invested in a new hedge fund, Autonomous Partners, which in turn invests in cryptocurrencies and blockchain-related companies.

It is worth noting that the institutional players did not enter the market when the price were at their highest points. They waited patiently for the fall and began investing in the past few weeks. This shows that they find value around the current price levels.

Let’s look at some critical levels that the investors should keep an eye on both on the upside and the downside.

BTC/USD

We expected Bitcoin to find support close to $6,250 but it plunged down to $6,120.45 on July 12. This invalidates our expectations of an inverse head and shoulders pattern. Still, if the bulls defend the zone between $5900 and $6075, the digital currency can form a double bottom.

Led by Bitcoin, most cryptocurrencies are showing a positive divergence on the RSI. However, until confirmed by a bullish price action, we can’t take a trade on the basis of this divergence alone.

So, at what point does the trend change?  

BTC/USD

As the BTC/USD pair has still not broken down of the $6,000 threshold convincingly, there is no reason for us to abandon our anticipation of a large range of $6,000-$12,000.

We will change our view if the digital currency slumps below $5,900 and fails to recover above it quickly. Under such circumstances, the decline can extend to between $5,000 and $5,450.

On the upside, we shall add to our existing position once the pair breaks out of $7,000 because that improves the probability of a rally to $10,000 with minor resistances at $7,750 and $8,560.

Traders who follow us are holding long positions initiated at $6,650. We suggest to continue holding on to them until the bears succeed in sustaining below $5,900 for four hours.

ETH/USD

We like Ethereum because it is trading above its April lows. This shows mild outperformance. If the bears fail to break below the June 29 low of $404.99 within the next couple of days, we anticipate a move to $500.

Once above $500, the digital currency should attract buyers, pushing the price towards $600, with a minor resistance at $550.

ETH/USD

If the bears drive the ETH/USD pair below $404.99 within the next couple of days, the drop can extend to $358.

We might recommend long positions on a breakout above $500.

XRP/USD

Ripple is hanging above the June 29 low of $0.4242 by the skin of its teeth. If this level breaks down, the next major support is at $0.24001. In between, there are minor support levels with the first one at $0.38, but it is difficult to hazard a guess where the buyers might step in.

XRP/USD

The first sign of a pullback will be when the bulls break out of the downtrend line and the 20-day EMA. Still, it will not be a green signal to buy, because the XRP/USD pair will face resistance at $0.52 and then again at $0.56270.

We anticipate the digital currency to spend some time forming a bottom. We shall turn positive once we get a confirmation that the bottom is in place.

BCH/USD

Bitcoin Cash continues to slide towards its June 29 low of $657.8. If this support breaks down, the next stop is at $619.7510. We anticipate the digital currency to find a bottom between these two levels.

BCH/USD

The 20-day EMA is the first resistance on the upside, above which the BCH/USD pair can rally to $838.9139. On a close above the downtrend line, we expect strong buying to push price towards the $1,200 mark.

The coin has a history of vertical rallies. Hence, we shall suggest a long position as soon as we spot a buy setup.

EOS/USD

The bulls have defended the $6.8926 mark for the past two days and are attempting to bounce from it. On the upside, EOS will face resistance at the downtrend line and above that at $9.4456.

Once these two levels are crossed, the digital currency should pick up momentum and move towards $15 with a minor resistance between $10.9 and $11.6.

EOS/USD

However, if the bears force a break below $6.89, the next support on the downside is at $5.961, which will complete a 100 percent retracement of the previous rally. Below that, the EOS/USD pair can slide to $5.1801. We shall propose a trade only on a close above the $9.5 mark.

LTC/USD

Litecoin continues to slide towards the critical support of $74.074, as the bulls have failed to break out of the descending channel for the past ten days.

LTC/USD

If the $74.074 level breaks down, the next support is at $67. However, the RSI is forming a positive divergence, which indicates the formation of a probable bottom.

On the upside, the bulls will face resistances at $91.146, $102 and then at $107. We believe that the LTC/USD pair needs to spend some time building a base before starting a new uptrend. We shall wait for a breakout from the base before proposing any trades on it.

ADA/USD

The bears are finding it difficult to break below $0.13 for the past three days. The range on Cardano has also tightened in the past two days. We should get a range expansion within the next few days.

ADA/USD

If the bears break below the immediate support, the ADA/USD pair can slide down to $0.078215. This will also invalidate our assumption of a large range formation.

However, if the bulls defend the support zone between $0.111843 and $0.13, a move to $0.181617 is probable. We shall wait for a new buy setup to form before recommending a trade on it.

XLM/USD

Stellar has been clinging on to the $0.184 support line for the past three days. However, the bulls have not been able to push the price higher.  

XLM/USD

If the XLM/USD pair doesn’t bounce within the next couple of days, the bears will attempt to sink it below $0.184. If successful, the next support on the downside is at $0.138565 and below that at $0.082332.

On the upside, a move above $0.22221471 will be a positive development, which can push the price towards $0.3. Until then, it is best to remain on the sidelines.

IOTA/USD

IOTA has been trading close to the critical support at $0.9150 for the past three days. Though our stops have not been hit, our recommended long position is deep in the red.  

IOTA/USD

If the bears sink the IOTA/USD pair below the June 24 lows, it can drop to the next support at $0.666.

Any pullback from the current levels will face resistance at the downtrend line. The digital currency will pick up momentum once it breaks out of the overhead horizontal resistance at $1.33.

We suggest to hold the current long position with the stops below $0.8850.  

TRX/USD

Tron is trying to hold on to the $0.03275 level for the past three days but the bulls have so far been unable to force a pullback.  

TRX/USD

If the bears sink the TRX/USD pair below $0.03275, the next support on the downside is at $0.022806. We expect this price to attract buyers.

On the upside, the 20-day EMA and the downtrend line will be the important levels to watch out for. The positive divergence on the RSI is a minor positive but we shall wait for the bulls to scale the downtrend line before suggesting any long trades.

The market data is provided by the HitBTC exchange. The charts for the analysis are provided by TradingView.

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Stellar Price: Hefty Declines Hint at a Troublesome Weekend of Trading

It remains to be seen if and when the cryptocurrency markets will see some positive momentum. For the time being, it seems things are not looking all that great. All cryptocurrencies continue to lose a lot of value every single hour. The Stellar price is the first one to deal with a decline of 5% or more in the past 24 hours.

Stellar Price Continues to Decline

It is not entirely surprising to see the Stellar price face a setback at this time. As long as the Bitcoin value remains in the dirt, most altcoins and asset swill see their fair share of setbacks as well. So far, things are not looking all that great, but the situation can still change at any given moment. For Stellar price watchers, today will be a day to forget about rather quickly, unfortunately.

Over the past 24 hours, the Stellar price has suffered from another 5% decline. That in itself is a major decline compared to how other currencies are faring as of right now. Even so, it is not entirely surprising to see altcoins go in the deep red while Bitcoin is still doing relatively fine. Although its decline is not something to be happy about either,  it is far less steep than what is happening to the Stellar price right now.

Speaking of Bitcoin, Stellar is losing ground in the XLM/BTC ratio over the past few hours. There has been another 1.86% setback, which explains why the Stellar price is losing so much ground in USD value. Combining the USD setback because of Bitcoin’s decline with the loss in the XLM/BTC ratio paves the way for further declines.

To make things even worse, there is far less Stellar trading volume than most people would be comfortable with at this point.  Even though all markets have seen a decline in volume all week long, Stellar’s 24-hour trading has dropped to just over $32.5m. It is far from an impressive number, and another reason as to why the Stellar price is not finding any stable ground.

Despite the declining XLM trading volume, Binance is still in firm control of the market. Its BTC and USDT pairs are currently generating over 46% of all trades combined. CoinEgg’s BTC pair doesn’t even come close, but it holds on to the third place regardless. BCEX’s CKUSD market and Exrates’ BTC pair complete the top five for Stellar right now. It is a bit surprising to not see OKEx on this list, but that is bound to happen every now and then.

The big question is how low the Stellar price will go in the coming hours and days. If the current momentum is any indication, things will not improve all that much tomorrow or during the weekend. A dip below $0.18 isn’t exactly catastrophic for the Stellar price, yet it will put a lot of short-term pressure on the market. More volatility is the last thing the cryptocurrency industry needs right now.

Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Cardano, Stellar, IOTA, TRON: Price Analysis, July 11

With predictions for Bitcoin for this year ranging from $5,000 to $60,000, what do the charts actually say?

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

The market data is provided by the HitBTC exchange.

During a bottoming process, prices swing up and down inside a range. This builds up the internal energy needed to break out or break down from it. Bart Smith, head of digital asset at Susquehanna International Group, said to CNBC that a lot of big investors are waiting for a dip to $5,000 to make an entry into Bitcoin.

Even Bitcoin bear, Todd Colvin, analyst at Ambrosino Brothers believes that “sophisticated investors will step in” at $5,000 on Bitcoin.

The current decline in cryptocurrencies has not deterred a few investors who have held their bullish targets. One of them is Tom Lee, co-founder and head of research at Fundstrat Global Advisors, who has a target of $25,000 for Bitcoin by the end of this year.

Another Bitcoin bull is Julian Hosp, president and co-founder of crypto wallet startup TenX who has a target of $60,000 by year end 2018.

We are similarly bullish on cryptocurrencies and believe that they are undergoing a base building process, however, our targets are much more muted. Long-term investors should use sharp falls to add the major coins to their portfolio. So, let’s see which are the ones that can be purchased now.

BTC/USD

Bitcoin turned down from the overhead resistance of $6,953.38 on July 9 and slipped below the 20-day EMA. If the current fall is stopped above the $6,250 mark, the probability of an inverse head and shoulders pattern forming will increase.

BTC/USD

The bullish setup will complete on a breakout and close above $6,953.38. The pattern target of such a break out is $7,996.11.

Once the BTC/USD pair breaks out of the downtrend line, it will become positive and might climb to $8,560 and thereafter to $10,000.

Conversely, if the bulls fail to hold $6,250, a fall to $6,075 is probable. Below $5,900, the next support is at $5,450, hence, the stops for the long positions initiated at $6,650 should be kept at $5,900.

ETH/USD

The bulls could not push prices higher after breaking out of the 20-day EMA on July 7. The failure of Ethereum to move up attracted selling, which resulted in a breakdown of the 20-day EMA and the support at $450.1.

ETH/USD

The next support on the downside is at $404.99. If this level also breaks, the ETH/USD pair can slump to the critical support at $358.

The cryptocurrency will become positive if it scales above $500. We shall wait for the breakout before suggesting any trades.

XRP/USD

Ripple is in a firm bear grip. It has again broken below $0.45351. Its next support is at $0.4242. If this level breaks, there is no major support until $0.24001.

XRP/USD

On the upside, the 20-day EMA will continue to act as a stiff resistance. Above this level, the next resistance is at $0.52.

The XRP/USD pair will show signs of a turnaround once it sustains above $0.56. Until then, all pullbacks will be sold into.

We shall wait for the trend to change before proposing any trades on it.

BCH/USD

Bitcoin Cash has turned down after failing to break out of the 20-day EMA. It is currently taking support close to the $700 levels. If this level breaks, the cryptocurrency can slide to $657.8 and below that to $619.7510.

BCH/USD

On the upside, the BCH/USD pair will gain strength above the 20-day EMA. However, we shall turn positive only after the bulls sustain above $850 for 4 hours.

As this pair has a history of vertical rallies, we shall recommend a long position on any indication of a trend change.

EOS/USD

We were expecting the tight range on EOS to resolve on the upside, but our assumption has been proven wrong. The bears forced a breakdown of the range, which led to a sharp fall that has carried the digital currency to the critical support at $6.8926.

EOS/USD

If the EOS/USD pair sustains below $6.89, it can slide to $5.961. If this level also breaks, the next support is at $5.1801.

On the upside, the digital currency will gain strength if it breaks out and sustains above the 20-day EMA and the downtrend line. We shall suggest a long position once it scales above $9.5.  

LTC/USD

Litecoin re-entered the descending channel on July 8 and dropped to an intraday low of $76.450 on July 10. This shows that the digital currency is vulnerable to a deeper fall if it breaks below $74.

LTC/USD

Our bearish view on the LTC/USD pair will be invalidated in the short term if the bulls scale above $92. However, we believe that the zone between $102 – $107 will offer a stiff resistance on the upside.

We shall wait for a buy setup to form before suggesting any long positions on the pair.   

ADA/USD

After the bulls failed to scale above the 20-day EMA on Cardano for seven days, it’s now the turn of bears to try and break below the support zone of $0.111843 – $0.13. If the bears succeed, the coin can plunge to the next support at $0.0782.

ADA/USD

If the bulls defend the support zone, the ADA/USD pair will once again attempt to rally above the 20-day EMA.

We shall turn positive only if the price sustains above $0.162 for a couple of days. Until then, we suggest to remain on the sidelines.

XLM/USD

The bulls have failed to secure a strong close above the 20-day EMA on Stellar, resulting in a slump back towards the low of $0.184.

XLM/USD

The bears have not been able to sustain below $0.184 since December 14 of last year, which confirms this level as a value buy. We also like the developing positive divergence on the RSI.

However, the XLM/USD pair will attract buyers only if it is able to sustain above the intraday highs of July 3. Therefore, we suggest buying only if the bulls are able to achieve a close above $0.225.

IOTA/USD

IOTA is trying to bounce off the critical support at $0.9150, which is also the probable bottom of the large range.  

IOTA/USD

On the upside, the IOTA/USD pair will face resistance at the 20-day EMA and the downtrend line.

Our suggested long position is deep in the red and will be out of danger only above $1.25 levels. Our assumption of a large range will be invalidated if the bears force a breakdown below the June 24 lows. Therefore, please close the position if the price sustains below $0.8850.  

TRX/USD

TRON is looking weak as it continues to slide towards its support at $0.022806. In the recent pullback, the price did not even reach the 20-day EMA, which shows a lack of buying interest.

TRX/USD

Below $0.03275, the TRX/USD pair can slide to $0.028. We believe that the zone between $0.0228 and $0.028 will attract long-term buyers.

The first sign of a change in trend will be when the price breaks out and sustains above the 20-day EMA and the downtrend line. We like the positive divergence on the RSI but shall wait for a price confirmation before proposing any trade on it.

The market data is provided by the HitBTC exchange. The charts for the analysis are provided by TradingView.

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Cryptocurrency Trading Platform ItBit Gets Regulatory Approval to List Ethereum, Litecoin, Stellar Lumens and BCH

ItBit, a crypto token trading platform, has received approval from the New York State Department of Financial Services (NYDFS) to offer trading and custody services for Ethereum (ETH), Litecoin (LTC), Stellar Lumens (XLM) and Bitcoin Cash (BCH). ItBit will start with offering custody, escrow and over-the-counter trading services for these new assets, with platform exchange […]

The post Cryptocurrency Trading Platform ItBit Gets Regulatory Approval to List Ethereum, Litecoin, Stellar Lumens and BCH appeared first on Coinjournal.

Announcing the 7th Stellar Build Challenge

Jed said in the first build challenge announcement:

“The build challenge is simple by design: it’s an experiment to find ways to develop services that are fair, affordable, and community-driven, and at the same time drive uptake of the Stellar network to maximize efficiency and reach.”

There have been six challenges since then, and many of the winning projects have become cornerstones of the Stellar ecosystem. The SBC is now a essential part of Stellar’s developer community, and here for this seventh edition, we’re going to return to its roots, by focusing especially on the “community-driven” part of Jed’s initial vision.

SBC #7 Goals

This SBC has two routes to an award, each of which embodies the ideal of collaboration in a different way:

1) make open-source contributions to ongoing projects:

We will reward new contributions to meaningful Stellar-related open-source projects. We’re looking for developers who:

  •  contribute new features and enhancements
  •  work on ‘help wanted’ issues
  •  expand project functionality
  •  improve the user experience
  •  even create or improve the documentation

In short, we want people to make a difference in an existing open-source project

Below is a list of suggested open-source projects to contribute towards.

SDK’s (pick your favorite language)
iOS (Swift) – https://github.com/Soneso/stellar-ios-mac-sdk
Python (Stellar Py Base) – https://github.com/StellarCN/py-stellar-base
Gt/C++ – https://github.com/bnogalm/StellarQtSDK
.Net –  https://github.com/elucidsoft/dotnet-stellar-sdk
PHP – https://github.com/zulucrypto/stellar-api
Unity – https://github.com/Kirbyrawr/stellar-unity
Scala – https://github.com/synesso/scala-stellar-sdk
Erlang – https://github.com/Viddi/erlang-stellar-sdk
Clojure – https://github.com/xlm-sg/clj-stellar-sdk

Wallets/Exchanges
StellarTerm – https://github.com/stellarterm/stellarterm
Stargazer – https://github.com/future-tense/stargazer
Foxlet – https://github.com/stellarchat/desktop-client

Ledger Explorers
Stellar Explorer (steexp) – https://github.com/chatch/stellarexplorer

Other
Stellar Kit – client web (Stellar Laboratory Alternative) – https://github.com/StellarKit/stellarkit-client-web
BB-8 (CLI Tool) – https://github.com/tolitius/bb8
Twitch bot – Novabot – https://github.com/michael-luo/novabot
Stellar Checkout – https://github.com/brewaa/stellar-checkout

2) develop one of these four new ‘cornerstone’ project ideas:

This is your chance to “collaborate” directly with Jed himself. He’s written up the following four specs; this is what he most wants to see built for Stellar, in his own words. Take one of the specs and make something awesome. Jed will personally review these submissions.

A Better Quorum Explorer
There are a couple Stellar quorum explorers already. But they are not collecting or presenting the info in a way that makes them as useful as they could be. Ideally you would contribute to one or more of the following improvements to those projects.

  • show a graph of the all the qsets of validators in the network
  • show which are up and show the dependencies between them
  • use real names for validators where possible

To get the data you probably need to modify stellar-core to write out to a DB all the qsets and externalized messages it sees.

A Trade Bot Maker
Build an easy way for anyone to make a trading bot. It should be usable by non-programmers. I am imagining a web interface with a suite of different algorithms to choose from. Allow the users to tweak the parameters in many different ways to tune the bot right.

  • Provide various data feeds the bot can listen to. Prices on other exchanges etc.
  • It should be like Stellarterm, where everything is run in a browser client-side.
  • The server can save people’s bot setup but not their secret key
  • Consider allowing other programmers to add algorithms or other extensions. Maybe this is just by PR at first.
  •  Later versions could incorporate social aspects:
  • For example, people can name their bots and there could be a leaderboard of bot performance.
  • You could also allow people to run their bot for others for a fee or something similar

Social trading
This is a way to make trading more social and fun. The idea is similar to what eToro does (note to eToro: you guys should just point your interface at the stellar network and save someone the trouble of rebuilding all this 🙂 )

Build a trading app or site:

  • the users give it a name and a public key.
  • the site then tracks your trading performance.
  • It should show a leaderboard of returns over various time periods
  • you should be able to see the holdings of anyone on the leaderboard
  • you should be allowed to follow another trader
  • following means that the you will watch what trades they are making and mirror the same trades in proportion to your balance.
  • make portfolios that follow a mix of traders
  • this is probably implemented as a separate account for each trader you are following in the portfolio.

Peer-to-peer wallet

This one is the biggest and most ambitious of the suggestions. This wallet would facilitate peer-to-peer payments without the need for anchors. It could be used to make small payments all over the world.

Before Bitcoin, Ryan Fugger created a site called ripplenet. It allowed people to set borrowing limits for any of their friends or acquaintances. Say A wants to send €10 to C but didn’t know D. But A knows B and B knows C and C knows D. What happens is that A gives B a €10 IOU then B gives C a €10 IOU then C gives D a €10 IOU. Now A owes B €10 and D is owed €10. B and C are owed €10 but also each owe €10 more so their net position after the payment hasn’t changed. The final state from this chain of IOUs is equivalent to A sending €10 to D.

As these debts are settled with real fiat, the balances inside Stellar can be reset. Because Stellar is multi-asset you can of course also support cross-currency payments. What is happening under the hood is that for each of your friends you are making A) a trustline and B) an order buying their asset and selling your asset.

Now, a normal Stellar path payment can route your asset to anyone else that is connected through this friend graph. The app should also allow people to set a price they are willing to go into and out of lumens for. This would do two things, A ) allow people to settle their debts in lumens which will make that process simpler. B ) make it possible for lumens to be the bridge currency in some of these payments reducing the number of hops need to send money. This has all the benefits that it does with anchors but is probably more important here due to the much larger amount of assets.

Setting the lumen price is a little tricky because of the volatility but maybe you can just set it to some standard price feed so it gets updated often. These orders can also only be taken by people that either have your asset or are willing to hold your asset so it is much less risky than putting orders up on a highly traded pair.

Additional incentive to collaborate:

In case it’s not already clear, we want to make sure all participants feel like they are part of the Stellar community. Instead of coding inside of a black hole until the winners are announced, it’s important to discuss projects with each other. There are many people in the community that consistently provide solid direction to projects but don’t have the time to develop their own.

We’ve noticed and will be rewarding users that give great feedback on GalacticTalk and GitHub, this round.

Going forward, Previous SBC Winners Will Be Supported Outside SBC

If you’ve won in past build challenges, congratulations! Thank you for being a part of getting Stellar to where it is today. You helped pave the way — allowing new developers to be inspired by the work you’ve done.

We’ve always encouraged winners to continue improving their projects. That will never change. However, we’ve realized the Stellar Build Challenge isn’t the best framework for ongoing support. If you are a previous winner or member of the partnership program, do not submit to the SBC. We will reach out to you directly with further details on how SDF plans to support your ongoing success.

With this change, we hope to accomplish several things:

  • to recognize and financially support established high-quality work in a targeted and tailored way
  • to give a clear, goal-oriented, and customized set of guidelines to past winning projects
  • to create more space for truly new projects in the Build Challenge
  • to create more opportunities for new use cases to be explored and worked into Stellar’s network

Previous winners should review the support program guidelines as they arrive, and existing partners should discuss with their contacts whether the SBC is the right place to submit their project/platforms. For example, a complete rewrite of functionality, utilizing new libraries, for a refined use-case could be considered a ‘new’ project, regardless of whether it keeps the name of the old one. On the other hand, changing the name, but just doing a few UI tweaks would not be a ‘new’ project.

Submissions, Judging, and Awards

Participants can submit their projects for consideration, starting June 1st.  You should announce your project on GalacticTalk.org and submit your project through the typeform.  Form submissions will open on June 1st and end on August 15th at 10:00PM PST. You can start posting announcements on GalacticTalk today. Winners will be announced by August 30th.

Judges will consist of members of the Stellar Development Foundation team with final determinations by Jed McCaleb.

Projects will be awarded based on their merit. We imagine there will be a comparable pool to previous build challenges, but we don’t want to discourage submissions and effort. High quality projects will receive higher awards. If they’re better than average, they will receive more. If they are low-quality, low-effort – they will receive less. While we won’t automatically discount new projects, we highly recommend that submissions are related to the two categories shared above.

Be sure to spend some time reading over the guidelines and fine print before you submit.

Future Opportunities

There are some obvious changes to the format of Stellar Build Challenge 7. We want to keep-in-touch with our developers and offer more ways for the community to engage with each other. Hackathons, live streams, and hosted events should begin to appear more regularly. Our team is also working on a new developer-focused communication channel to highlight exciting indie projects being built on the Stellar network. Details will be announced via our Twitter and monthly newsletter in the near future.

We can’t wait to see what you bring to the table and look forward to watching the community come together to build something awesome.

The post Announcing the 7th Stellar Build Challenge appeared first on Stellar.

Veridium Labs teams with IBM and Stellar on carbon credit blockchain

Veridium Labs has been trying to solve a hard problem about how to trade carbon offset credits in an open market. The trouble is that more complex credits don’t have a simple value like a stock, and there hasn’t been a formula to determine their individual value. That has made accounting for them and selling them on open exchanges difficult or impossible. It’s a problem Veridium believes they can finally solve with tokens and the blockchain.

This week the company announced a partnership with IBM to sell carbon offset tokens on the Stellar blockchain. Each company has a role here with Veridium setting up the structure and determining the value formula. Stellar acts as the digital ledger for the transactions and IBM will handle the nuts and bolts of the trade activity of buying, selling and managing the tokens.

Todd Lemons, CEO and cofounder of Veridium Labs, which is part of a larger environmental company called EnVision Corporation, says that even companies with the best of intentions have struggled with how to account for the complex carbon credits. There are simpler offset credits that are sold on exchanges, but ones that seek to measure the impact of a product through the entire supply chain are much more difficult to determine.  As one example, how does a company making a candy bar source its cocoa and sugar. It’s not always easy to determine through a web of suppliers and sellers.

Moving forward

To partly solve this problem, another Envision company, InfiniteEARTH developed a way to account for them called the Redd+ forest carbon accounting methodology. It is widely accepted to the point that it has been incorporated in the Paris Climate Agreement, but it doesn’t provide a way to turn the credits into what are called fungible assets, that is an easily tradable one. The problem is the value of a given credit shifts according to the overall environmental impact of producing a good and getting it to market. That value can change according to the product.

Jared Klee, blockchain manager for token initiatives at IBM, says that buying and accounting for Redd+ credits on the company balance sheet has been a huge challenge for organizations. “It’s a major pain point. Today Redd+ credits are over the counter assets and there is no central exchange,” he said. That means they are essentially one-off transactions and the company is forced to hold these assets on the books with no easy way to account for their actual value. That often results in a big loss, he says, and companies are looking for ways to comply in a more cost-efficient way.

Putting it together

The three companies — Veridium, IBM and Stellar — have come together to solve this problem by creating a digital token that acts as a layer on top of the carbon credit to give it a value and make it easier to account for. In addition, the tokens can be bought and sold on the blockchain.

The blockchain provides all the usual advantages of a decentralized record keeping system, immutable records and encrypted transactions.

Veridium is working on the underlying formula for token valuation that measures “carbon density per dollar times product group,” Lemons explained. “That can be coded into a token and carried out automatically,” he added. They are working with various world bodies like the United Nations and The World Resource Institute to help figure out the values for each product group.

All of the details are still being worked out as the idea works its way through the various regulatory bodies, but the companies hope to be making the tokens available for sale some time later this year.

Ultimately this is about finding ways to help businesses comply with environmental initiatives and remove some of the complexity inherent in that process today. “We hope the tokens will provide less friction and a much higher adoption rate,” Lemons said.

Stellar Build Challenge #6 – the Results

Confusion. Disorder. Darkness. Without form. Without meaning. For unbroken millennia, seemingly forever, all creation is but a roiling emptiness—all existence, void—as the sublime mystery of the unknown and a nameless malevolence combine in absolute nullity. Oblivion holds silent, cruel dominion, and the universe writhes, pathetic in its vacant struggle; timeless, deathless, soulless, loathsome. Then, suddenly, from chaos, order. Behold! Obey!

Yes, the 6th Stellar Build Challenge is officially over. Below are your winners. This is a real photo of the judging process.

Before we get to the best of the many excellent projects we had the privilege to review, we want to point out that we received more submissions for this SBC than in all previous challenges combined.

Stellar Build Challenge Submission Volume

This is Stellar in microcosm. There’s an order of magnitude more interest in the Network now; and the combined talent applied to Stellar is much greater than it’s ever been. While these are welcome problems to have, we’re the first to admit that the Stellar Build Challenge has struggled to keep up.

To reflect the high quality of many of our entries, and as a show of our good faith and of our renewed commitment to the SBC, we’ve decided to award five times the prize pool we’d originally planned. So we will distribute roughly 2.7 million XLM to the winners, not the 550 thousand we previously announced.

We know we need to do a better job rewarding and encouraging the absolute best projects on our platform. The announcement for SBC #7 will contain clear details on how we plan to improve. But we’re prepared to make these promises today. We’re committed to:

– more transparency in how we make choices
– better communication throughout each Challenge cycle
– more emphasis on projects that further Stellar’s long-term success

Of the 324 submissions to SBC #6, 113 will get some award from us. Our community team of Ali Finkelstein, Rob Durst, and Zac Freundt handled the initial review rounds, and Jed McCaleb made the final prize distinctions.

The overall winners below will receive awards of 200,000 XLM each (with the two teams who reworked the Python SDK splitting their award) and the other finalists will receive 80,000 XLM. Congratulations to these projects and to the many other worthy submissions who received smaller awards. Details on SBC #7 will be released shortly.

The Overall Winners

We received SDKs in many languages—from Scala to Elixir to Rust. This iOS SDK was the best executed, most active, and best documented, and of course providing a client library for the Horizon API for iOS developers will further many other projects on Stellar. This team of four contributors is actively evolving their work—the latest commit happened just hours ago. SDF is especially interested in rewarding follow-through on an initial idea. This SDK is available on cocoapods and has over 100 downloads so far; it’s already being used in at least one notable project, the BlockEq wallet.

One of the goals of SBC is to improve worthwhile existing projects. Many of the most popular and widely used Stellar services, such as StellarTerm and Stellar Explorer, were submitted this round and will receive awards for their ongoing work. But the transformative relaunch of LupoEx as Stellaport.io, completed in just a few months, deserves the highest level prize this Build Challenge. Stellarport now ranks as one of the top community-developed exchanges.

Documentation & Refactor of Stellar’s Python SDK

For this we named two co-winners, and here are their Galactic Talk announcements:
overcat and theaeolianmachine.

Together these projects constitute an incredible refactor and improvement of the Python library for communicating with a Stellar Horizon server; the documentation especially was vastly improved—here’s a live demo. We hope these changes will allow contributors to continue to improve the library.

The Other Finalists

We saw many notable security-focused submissions, including Stellar Authenticator, StellarGuard, and the ongoing development of the Ledger Nano S/Blue Support for Stellar. But the most promising security improvement to Stellar came from LumenBox, who developed an important improvement to the current Federation service. They describe the problem and their fix well, in their Galactic Talk announcement and in the issue they submitted to Stellar’s github:

“The Stellar Federation protocol is secured through HTTPS. All data connections from a wallet to the servers have to use HTTPS. While this is a good step towards security, there is one hole: what if the web server or the federation server gets compromised? DKIF (Domain Key Identified Federation) closes this hole and ensures a signed chain, from the DNS record down to the individual Federation record.”

Two questions people always have about a cryptocurrency’s network are: Does anyone run a node? and Is this thing really decentralized? Stellarbeat answers these questions by analyzing and visualizing the topology of our Network. Stellarbeat.io is a node crawler and explorer; one that also shows node location and node software version. Not only is this tool immediately useful to SDF, but it could lead to deeper network analysis projects, such as a quantitative node ranking system like this one for Bitcoin.

Lumenauts.com bills itself as “Your Unofficial Stellar Guide,” and the site has quickly become an indispensable source of Stellar tutorials, explanations, and news. Our community needs better resources, not just better tools, and Lumenauts.com is exactly the kind of explanatory and evangelizing work we hope to see more of.

Distributed Trustless Workers with Stellar, a Medium post, deserves special mention here, too, although we ultimately didn’t select it as a finalist. It’s a thought-provoking walkthrough of a novel Stellar Smart Contract application, complete with example code. The author received a substantial award for the piece.

Open Garden allows you to turn your phone into a wifi hotspot and get paid for your bandwidth; their payment tokens are issued on Stellar. The app is ambitious and well-designed, and their team has been very vocal about explaining to the wider world why Stellar is the right platform for them.

Alfred is a basic, yet effective, Stellar command-line interface. It uses NLP to create an intuitive user experience. It’s well-designed, and the developers folded in a multitude of features while maintaining a clear focus on friendliness and approachability.

In addition to the winners and finalists, there were over 100 other submissions that deserved at least some award from SDF; the complete list of those projects is here. Notifications and award amounts will be going out shortly.

The post Stellar Build Challenge #6 – the Results appeared first on Stellar.