Wegen der „täuschenden und unrechtmäßigen Vermarktung von Kryptowährungen“ ermittelt die FTC nun gegen Voyager Digital.
Neue Regeln für kanadische Kryptobörsen lassen wenig Platz für Stablecoins
Die kanadischen Börsenaufsichten ziehen die Daumenschrauben für Kryptobörsen an und lassen Stablecoins nur noch in Ausnahmefällen mit ausdrücklicher Genehmigung zu.
Israeli startup Chain Reaction raises $70M to develop blockchain chips
- The Tel Aviv-based blockchain chip startup is developing its next-generation chip.
- The new chip will be a “fully homomorphic encryption” chip.
- The startup wants to start mass production in the first quarter of 2023.
Israeli-based startup Chain Reaction has successfully raised $70 million to support the development of its next blockchain chip. The funds will go towards expanding the startup’s engineering team working on developing the next chip.
The CEO and co-founder of Chain Reaction Alon Webman noted that the chip will be a fully homomorphic encryption chip that will allow users to work on data while the chip is encrypted. He said:
“Today if you have data (which) is encrypted into the cloud and in order to do any data operation or data analytics, do A.I., you have to decrypt the data.”
Webman noted that organizations and major industries that would otherwise use cloud services are restricted from doing so because of security concerns since once the data is decrypted it becomes vulnerable to malicious users looking to read, steal or change it.
Access to data under encryption
The new chip allows users to access data under encryption and Chain Reaction plans to launch the chip by end of 2024.
Chain Reaction is already working on starting the mass adoption of its current blockchain chip Electrum in the first quarter of 2023. The Electrum chip is designed to support fast and efficient hashing and could also be used for mining cryptocurrencies.
Chain Reaction is not the first company to develop a blockchain chip since software developer Intel in February 2022 partnered with Nvidia Corp to launch a blockchain chip. Nvidia also individually produces chips specific for Ethereum mining.
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Amp price prediction: technical analysis points to a brief pullback
Amp price bullish momentum continued on Thursday as the bullish momentum continued. It rose to a high of $0.0067, the highest point since September 11 last year. Like most crypto tokens, it has jumped by more than 121% from the lowest level last year.
It is unclear why Amp token is rising even as its on-chain metrics continue deteriorating. On-chain metrics show that the number of people using and holding Amp was relatively negligible. For starters, Amp is a blockchain that helps people provide collateral of their assets in a relatively easy process.
There have been no major Amp-related news in the past few days. The most relevant is the decision by New York prosecutors to sue CoinEx, a small crypto exchange. In a statement, New York’s attorney general said that the company offered securities in its platform. It cited tokens like Amp, Luna, and RLY. The statement added that:
“The Tokens are also securities under the Martin Act because they represent investments of money in common enterprises with profits to be derived primarily from the efforts of others.”
Amp price prediction (daily chart)
The daily chart shows that the Amp crypto price has made a strong recovery in the past few days. It has managed to move above the key resistance level at $0.0059, the highest point on January 17th. The coin has also jumped above the psychological level at $0.0050.
Further, it has moved above the 25-day and 50-day moving averages while oscillators like the Relative Strength Index (RSI) and the MACD have kept rising. Notably, these gains are happening at a period of high volume.
Therefore, I suspect that Amp has some more upside to go. If this happens, the next level to watch will be at $0.008. However, a drop below the support at $0.0060 will invalidate the bullish view.
Amp crypto forecast (4H chart)
On the four-hour chart, we see that the Amp price has been in a bullish trend as well. It has managed to cross several levels, including the resistance point at $0.0053 and $0.0059, the highest points on Feb 8 and Jan 7, respectively. Like in the daily chart, the token remains above all moving averages. The only difference is that volume has started moving downwards.
Therefore, with other coins like Bitcoin and ETH retreating, there is a likelihood that Amp will also decline and retest the support at $0.0060.
How to buy Amp
As AMP is such a new asset, it’s yet to be listed on major exchanges. You can still purchase AMP using a DEX (decentralised exchange) though, which just means there are a few extra steps. To buy AMP right now, follow these steps:
1. Buy ETH on a regulated exchange or broker, like eToro ›
We suggest eToro because it’s one of the world’s leading multi-asset trading platforms, an exchange and wallet all-in-one with some of the lowest fees in the industry. It’s also beginner-friendly, and has more payment methods available to users than any other available service.
2. Send your ETH to a compatible wallet like Trust Wallet or MetaMask
You’ll need to create your wallet, grab your address, and send your coins there.
3. Connect your wallet to the 1Inch DEX
Head to 1Inch, and ‚connect‘ your wallet to it.
4. You can now swap your ETH for AMP
Now that you’re connected, you’ll be able to swap for 100s of coins including AMP.
The post Amp price prediction: technical analysis points to a brief pullback appeared first on CoinJournal.
XRP/USD price forecast amid a +13.19% YTD performance
- Ripple’s rally lags behind other cryptocurrencies’ rallies for 2023
- A bullish flag pattern suggests more upside
- Once the bullish flag is confirmed, a double bottom pattern projects the price even higher
Ripple rallied against the US dollar in 2023 as the entire cryptocurrency market bounced. However, unlike Bitcoin, Ripple rallied less.
One explanation may come from the current consolidation. The chart below shows the daily timeframe, and the recent price action reveals a tight range lasting several weeks.
So what does the technical picture says about XRP/USD?
Bullish technical setup for XRP/USD, providing the 2023 lows hold
A double top pattern may be spotted on the left side of the chart. Ripple failed twice at $0.9 before reversing sharply.
It declined in line with the overall cryptocurrency market as investors fled, scared of scams and after losing faith in various crypto projects.
A double top is a reversal pattern. The key to trading the pattern is waiting for the price to move below the neckline.
Then, projecting the measured move, one can determine the minimum distance the market should move to confirm the reversal.
After the reversal pattern was confirmed by the price action reaching the measured move, Ripple entered a long period of consolidation. Ripple trades in a tight range against the dollar for almost eight months now. That is, a tight range considering the cryptocurrency market standards.
Currently, one can spot two bullish factors for Ripple. First, a double bottom pattern might be in the makings. Still incomplete, it points to $0.7 should the price move above the neckline.
Second, the most recent price action looks like the flag of a bullish flag pattern. If it is confirmed by future price action, then the measured move points to a break above the double bottom’s neckline.
To sum up, the bullish flag’s measured move exceeds the double bottom’s neckline. Hence, bulls may want to buy on a daily close above $0.45 and place a take-profit at $0.7.
The invalidation point of this bullish setup is a move below $0.3.
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