NIOdex: The NIO Decentralized Exchange

NIOdex

NIOdex is a decentralized exchange built by NIO. It is a blockchain exchange designed to bring users a secure and smart peer-to-peer trading system.

Built on the 0x protocol which is described as a “permissionless protocol allowing for ERC20 tokens to be traded on the Ethereum blockchain” the NIOdex allows users to definitively trade cryptocurrency with minimal woes and minimal effort.

But what sets it apart from other exchanges? Let’s take a look!

What Makes NIOdex Exchange Different?

First, important to note, are the several issues facing many decentralized exchanges — and …

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NIOnet: NIO Suite’s AI Trading Insight Tool

NIOnet

NIOnet is the third component of the NIO Suite; NIO’s multi-functioning platform made for accessible and efficient crypto trading, where novices can feel as confident in the marketplace as the pros.

The suite does this by combining a reliable decentralized exchange platform — NIOdex — with integrated AI analytic insight tools; AutoNIO and NIOnet. Where AutoNIO focuses on technical and fundamental market-data analysis, NIOnet allows users to conduct complex sentiment analysis on supported trading pairs.

And all that is easily achieved with the simple click of a button.

NIOnet And Sentiment Analysis, What …

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Incredible things have started happening for Ripple, HODL your XRP tight!

The Ripple’s XRP token has been pretty much in the spotlight during the last couple of months because of a huge controversy regarding the veracity or not that the crypto is going to be classified as a security by the Securities and Exchange Commissions (SEC). However, as it was to be expected the company Ripple Labs struck back and came up with the deployment of a variety of strategies to give a crystal-clear declaration on the matter.

Like this, the first move was nothing less than the differentiation between Ripple the company, and the XRP token. Let’s recall that not so long ago the term “Ripple (XRP)” was largely used by the community for referring to the third largest crypto of the market, which, of course, is the main fact behind the misunderstanding and the tendency to link the achievement of products such as xCurrent or xVia to the crypto itself.

As a result of the differentiation, Ripple Labs has been working tirelessly to dispel the rumors and to show the cryptosphere all of what the crypto has under the sleeve to get to the top in a matter of a short time. Let’s see the latest updates of the Ripple’s coin, XRP, and all that can be expected in the near future!

Partnerships and endorsements

One of the biggest achievements of the recent days for the XRP token is definitely the addition of the coin to the platform Bitcoin Superstore, a website on which users can buy items in several retailers such as Amazon, eBay, and others with the use of cryptocurrencies.

The announcement came on August 5th in a tweet of the Bitcoin Superstore that reads:

In the same line, another outstanding alliance is the one that Ripple deployed with the wallet and exchange, Wirex, a relationship of which resulted in the addition of XRP as a support for a Visa prepaid credit card. The engagement has triggered an increase in the number of transactions and sign-ups of the token, which of course, respond to the possibility of paying using Ripple’s XRP now.

For its part, when it comes to endorsements, XRP has received a lot of attention lately from the most renowned institutions of the cryptosphere. We can count amongst them the approval that the independent rating firm, Weiss, made on Twitter about XRP with a message that read:

The same way, the Philippines based payment network Coins.ph is adding XRP to its platform for allowing its users to pay their bills using the XRP token. And Bittrex for its part announced that XRP would be added to their platform on August 10th in the company of Ethereum Classic (ETC) (so that’s done too).

Conclusion

Good things are coming for the XRP token. In fact, SBI Holding Chairman – Yoshitaka Kitao has foreseen that the price of the token will reach $9 by the end of the year, a fact that sounds a little difficult considering the present behavior of the coin (and whole crypto market). Would it be possible for Ripple’s XRP to reach the $9 mark? Only time will tell. Stay tuned!

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Could This Be The End for XRP In The Crypto Markets?

The crypto-markets have been looking a bit gloomy this past week with the total market capitalization dropping from $255 Billion on Tuesday the 7th of August, to current levels of $207 Billion at the moment of writing this (August 11th). One of the fears many crypto traders have is that this market cap will drop to levels below $200 Billion and continue to hurt their investment portfolios.

Looking at XRP, it has dropped from levels of $0.41 on the same Tuesday – 7th of August – to current levels of $0.29. This is a drop in price of 30% in less than 4 days. Comparing this to the peak value of XRP of $3.82 in January, the digital asset has dropped 92.4% in the past 8 months.

It is by a similar observation that the inventor of the Bollinger Bands used in trading – John Bollinger – believes it is time to start looking for signs of capitulation in XRP. In a tweet on the 10th of August, Mr. Bollinger had this to say about the recent slump in the price of the digital asset:

Capitulation is when investors give up on any previous gains in an asset they own in the market and start selling abrupt to get out of their positions. Capitulation involves extremely high volumes and sharp declines. It also involves panic selling. The question now is, have the XRP investors totally given up on the coin that is meant to skyrocket to the stratosphere this year due to numerous news and its general popularity?

A brief history of John Bollinger

John Bollinger is a trusted and famous technical trader who developed the highly used Bollinger Bands. He developed the technique in the 1980s which uses a moving average with two trading bands above and below it. These two bands are used to gauge the possible highs and lows of an asset. Many traders believe that the closer the price of an asset moves to the upper band, the more overbought it is and most likely to drop in value. If it moves to the lower band, it is oversold and likely to start an upward trend.

John Bollinger further provides 22 rules to follow when using the bands as a trading system. Crypto trading platforms such as Binance and Bitfinex have Bollinger Bands as an analysis tool on their charts.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Here Is How Ethereum (ETH) Could Continue to Fumble in the Markets

At the height of the cryptocurrency boom of last December into January this year, two things happened to Ethereum (ETH). Firstly, it was the preferred coin for funding ICOs. The second is that as a result, its demand skyrocketed to peak levels of $1,400 aided by the general crypto bull run of that period. Now the ICOs that were funded during this peak period, have seen their holdings diminish in value as ETH is now valued at $322. This is a drop in value of 77%. Imagine if an ICO had raised $10 Million in ETH back then, that value is now valued at $2.3 Million and could bring challenges in funding the project.

Also worth analyzing, is ETH’s recent weakness after the SEC decided to delay their verdict on the Bitcoin ETF up until the 30th of September. We saw ETH reach new lows of $309 with some predicting that the fall might continue to the upper $200 levels.

It is with this worrying trend that perhaps Ethereum might be slowly becoming obsolete in a fast-paced crypto and blockchain ecosystem. The platform still has scalability issues as well as security vulnerabilities with the smart contracts created on it. As the Ethereum Foundation looks for solutions, other blockchain projects are presenting themselves from all directions and having already solved some of the Ethereum platform issues.

First on the list is the Tron (TRX) project that can handle 80 times more transactions per second than the Ethereum platform. As a matter of fact, the newly released TRON network is doing 308,754 transactions per day, compared to 641,927 Ethereum’s transactions per day, and at the moment of writing this. This means that the TRON network is halfway towards eclipsing Ethereum’s daily transactions, and its Mainnet is hardly 2 months old.

Also, the Tron network uses bandwidth rather than gas. Therefore, transactions on the Tron network are virtually free. More users are sure to flock to the Tron network for the cheap transactions.

Other potential threats to Ethereums’ dominance of smart contracts are Cardano (ADA), Zilliqa (ZIL) and IOSToken (IOST). All these projects have showcased that they can increase the transactions per second (throughput) and make smart contracts on their platform more secure than those on the Ethereum Platform.

Therefore, Ethereum might be headed for further decline before it can be dominant again. The resurgence of Ethereum will be dependant on whether they implement the scalability solutions that have been recommended for the platform. Otherwise, ETH will be the choice currency by traders who simply want to short it.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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IOTA Tron (TRX) Price Analysis: A Subtle Shift in Tone?

While some of the major large market cap coins have managed to weather the recent storm with their primary 2018 support levels left still intact, a quick glance at the charts for IOTA and Tron (TRX) will make clear that these two are not among them.

However, if we see an inflection in this space over the following week, both of these coins may be capable of putting in relatively important bottoms. And our job as technicians at this point is to remain objective and listen to the signals being broadcast from the patterns and indicators that we see.

IOTA

Price Analysis

  • High: $0.54879
  • Low: $0.5341
  • 24-Hour Volume: $32.38M
  • 7-day Percent Change: -41.04%

As we noted last week, IOTA has been breaking down out of a very clearly demarcated bearish descending triangle on the daily chart.

The most recent leg – the one that triggered this pattern and sent this coin spiraling lower – came off of a glancing blow ricocheting off of contact with a declining 50-day simple moving average.

The move that has resulted in is a brutal one, knocking IOTA off the edge of the table for losses surpassing 40% just over the past seven days.

This move has resulted in some striking oversold readings for oscillators on both the daily chart and the hourly chart, with a minor bullish divergence now appearing in the hourly MACD.

However, if downside were to resume from here in IOTA, the most obvious major zone below for clear support would be all the way down at the $0.32 level.

Tron (TRX)

Price Analysis

  • High: $0.022782
  • Low: $0.021918
  • 24-Hour Volume: $104.61M
  • 7-day Percent Change: -24.53%

Tron (TRX) presents us with another example of a chart implosion over the past seven days, with the coin undercutting its 2018 lows in recent action on a sharp rise in volume that suggests a major run of last-ditch stop orders.

That means there aren’t any other support levels below that one can hang a hat on. However, the fact that volume surged on the break of the March lows suggests the possibility of a capitulatory low now within reach.

In addition, the breakdown that we have seen in TRX off of the pivot high logged on July 30 has taken the form of a possibly completed Elliott wave impulse move.

In other words, Tron (TRX) is badly oversold, and triggering some positive readings under the surface from major oscillators, but still within the confines of a highly directional downward trend that no longer has any clear support levels below as a technical safety net.

That means we have to watch the tape for a shift in tone.

Happy Trading~

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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XRP Cardano (ADA) Price Analysis: With the Bitter Comes the Sweet

Someone very wise once said that the only way you can get to somewhere better is by admitting to yourself where you really are. For many HODLers of large market cap alt coins, this is a bitter pill to swallow right now.

But, as we take a close look at the charts for XRP and Cardano (ADA), it’s important to keep in mind that the long-term picture may have changed very little over the past 10 days. So, our essential mission is still the same: find the levels.

XRP

Price Analysis

  • High: $0.30905
  • Low: $0.29528
  • 24-Hour Volume: $188.06M
  • 7-day Percent Change: -30.37%

Last week, we made the case that the selloff for XRP would likely undercut the $0.30 level, but that this may be the area where we finally saw substantial support come into play.

Frankly, if XRP can’t hold this $0.29-$0.30 area, then one can’t discount the possibility of completing the round-trip, which would imply a possible test of the $0.20 level.

However, we have to look at the action from the standpoint that this current zone may, in fact, represent key support where XRP is able to stabilize.

The hourly MACD chart is showing a bullish divergence in terms of oscillator readings versus price readings over the past 72 hours. That is not insignificant in the grand scheme of how the puzzle pieces of this chart fit together right now.

A break back above the $0.32 level could be a significant tell.

Cardano (ADA)

Price Analysis

  • High: $0.114
  • Low: $0.11072
  • 24-Hour Volume: $37.46M
  • 7-day Percent Change: -14.54%

Whereas the chart for XRP looks like a picture of pain over the past week, the chart for Cardano (ADA) is a much milder version of the recipe.

In fact, Cardano (ADA) has barely made a lower low relative to its late June pivot support. And major oscillators are already showing severely oversold readings despite a much more subdued downward trend during the past few days.

Interestingly, we have made a lower low relative to the June lows, which also adds up to a lower low relative to the lows that we saw during March of this year. In other words, we have a very shallow downward trend of a sort in play. However, relative to many other large market cap coins, this is, in fact, a show of relative strength.

In this case, a break back above the $0.12 level could be a significant bullish indication for Cardano (ADA).

Happy Trading~

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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EOS Stellar (XLM) Price Analysis: The Technical Story

Recent action has clearly been brutal for many different large market cap coins that define any trader’s rough and ready perception of the cryptocurrency complex as a whole. But our task as technical analysts is to remain dispassionate and empirical in our observations. And let the charts tell the story.

Today, we’re going to dive into that story for EOS and Stellar (XLM), and see what we find.

EOS

Price Analysis

  • High: $5.1534
  • Low: $4.9654
  • 24-Hour Volume: $638.42M
  • 7-day Percent Change: -28.15%

EOS has been one of the most brutalized of all the large market cap coins over the past seven days, declining nearly 30% in that time, and breaking a number of key support levels on the way.

However, one interesting technical development that we’ve seen pop up over the past 48 hours is a very clear bullish divergence on the hourly MACD indicator readings, with two higher lows amid lower lows on the price chart for EOS.

This type of bullish divergence often signals a gradual reversal of momentum going on under the surface of the chart, which then becomes manifest in terms of price action.

The jury is still out as to whether or not we will see this blossom, but it’s definitely something to watch out for given that EOS has actually been a relative outperformer over the past 12 months.

Stellar (XLM)

Price Analysis

  • High: $0.2431
  • Low: $0.22325
  • 24-Hour Volume: $70.65M
  • 7-day Percent Change: -8.55%

While EOS has been an outperformer over the last 12 months, Stellar (XLM) has been an outperformer over the last two, still trading now above both its June lows and late March lows.

There are only a few large market cap coins that can make this claim, which unequivocally places it within the top echelon in terms of performance – as dreary as that statement actually is when you look at this chart.

As far as shorter time frame signals go, Stellar (XLM) is also showing something of a bullish divergence on the hourly chart where major oscillators are concerned, with both the 14-period RSI and the hourly MACD signaling some reversal of momentum underneath the surface that may become manifest in price action.

However, I am always a little uneasy about calling even a short-term bottom in a coin that has brushed so close to a major stop-loss level without triggering those weak-handed orders. It would be nice to see XLM dive quickly under the $0.20 level before finding support and turning back higher.

Happy Trading~

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Charts courtesy of tradingview.com

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Bitcoin (BTC) Ethereum (ETH) Price Analysis: The Ride and the Shaft

The process that we have witnessed defining the action across the broad cryptocurrency space over the past two months has been a bit of a roller coaster ride for some coins, while it has been an elevator shaft for others.

As we take a close look at the charts for Bitcoin (BTC) and Ethereum (ETH), we are really looking at one roller coaster ride and one elevator shaft. But it’s important to not only understand the tone of recent action but to use the tools of technical analysis to lay out a landscape of projections for what comes next.

Bitcoin (BTC)

Price Analysis

  • High: $6524.1
  • Low: $6306.5
  • 24-Hour Volume: $5.70B
  • 7-day Percent Change: -9.82%

The action in Bitcoin (BTC) has been a miniature Christmas tree since the middle of July, with a rocket to the upside from the $6000 support level to test a declining 200-day simple moving average. That then rolled over and led to a move right back down to retest the $6000 level.

Easy come easy go.

Naturally, this is all about possibly carving out a base of support around this $6000 level – an idea that’s being put to the test now in an official capacity.

With the recent decline, we are beginning to roll the 50-day simple moving average back over into a downward slope, but Bitcoin (BTC) is still fighting to hold support and rebound.

For Bitcoin (BTC) HODLers, right now we’re seeing a fistfight that is expressing itself on the chart as a bit of asymmetric triangle pattern beginning to take shape on the hourly chart. Look for a resolution to this triangle early this week to give an indication as to where this coin heads next.

Ethereum (ETH)

Price Analysis

  • High: $321.22
  • Low: $313.82
  • 24-Hour Volume: $1.69B
  • 7-day Percent Change: -21.67%

The action in Ethereum (ETH) has been much more directional and much more bearish over the past month, with the July bounce manifesting itself only as a bearish flag pattern that eventually found form in a trigger release to the downside following a rub against its 50-day simple moving average.

Over the last 72 hours, we have seen Ethereum (ETH) break underneath its March lows to score new year to date lows for the 2018 campaign.

Oscillators are beginning to show severely oversold readings, with the 14-day RSI measure testing a 20 print.

The question now is more about whether or not we are approaching seller exhaustion than anything else. Support on a further extension to the downside in ETH comes into play on a price level basis at $275.

Happy Trading~

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Here Is Why Even Weiss Ratings Wants XRP as a Base Currency on Binance

The Weiss Ratings firm – that was founded in 1971 – prides itself as being one of America’s leading provider of independent, unbiased, trusted ratings of Stocks, Mutual Funds, Cryptocurrencies, ETFs and financial institutions. The firm recently held a Twitter poll asking users which was the best digital asset to move funds between exchanges. XRP emerged victorious in a list that included Bitcoin (BTC) and Ethereum (ETH). The full poll can be seen below.

With 78% of the 7,598 poll respondents picking XRP, the corresponding XRP community went on to list reasons as to why XRP should be added as a base currency on Binance. They did so by replying to the twitter post above. The reasons were as follows:

  • It would help Binance for it is faster (3.3 sec) and cheaper ($0.0004)
  • A base currency of XRP would bring in more users to the exchange
  • XRP is the fastest digital asset to transfer funds between exchanges
  • Other exchanges are continually warming up to XRP as a base currency
  • XRP would attract the big money movers – also known as whales – who’d increase the trade volume of the exchange: a win-win situation
  • It is the natural and progressive thing to do given the popularity of XRP

It is with this background, that the Weiss Ratings firm has then agreed with the XRP community via posting a tweet as follows:

“We think that the #XRP is the fastest digital asset to transfer funds between exchanges. It only makes sense for #Binance to use it as the base #currency – why should one have to go through an intermediary currency to trade? #crypto #btc #altcoins”

Binance currently has base currencies of Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB) and Tether (USDT). An addition of XRP as a base currency would go on to add to the diverse options traders have on the exchange. XRP would allow for funds to be moved faster between exchanges into Binance thereby providing a win-win situation for both sides of the argument. In the case of Binance, it would mean more business through high trade volume.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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