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  • The Virus Crypto Economy: Since the Pandemic Started, CEX.IO almost Doubled its Daily User Registrations

    The Virus Crypto Economy: Since the Pandemic Started, CEX.IO almost Doubled its Daily User Registrations

    The CEX.IO exchange, a top 10 crypto exchange according to CryptoCompare’s July rankings, has taken stock of the first half of 2020. Its analysts saw exceptional growth in the number of new users, significantly higher daily trading volume, and increased trader activity, in particular a 15-times shorter order filling time compared to last year, all despite the pandemic that has strained the global economy. 

    According to CEX.IO’s analytics department, on March 12, 2020, the number of unique users on the platform reached its high point for the year. The exchange’s Executive Director, Konstantin Anissimov commented that

    “on March 12, the Bitcoin exchange rate dropped sharply, from $8000 to below $5000, after the stock market crashed, and a day earlier the WHO had designated the COVID-19 outbreak a pandemic. The subsequent economic crisis resulted in a significant increase in the interest toward cryptocurrencies.”

    Growth in Users and Daily Volume 

    From February to May, the number of new users on CEX.IO rose continuously, and in May it was 1.5 times the January’s figure. Overall, the number of monthly signups has grown 80% from January to June. Constant growth was also observed in the average daily trading volume, whereas through all of 2019 volumes remained relatively flat. 

    The increase of number of registrations in % (relative to January 2020)

    We are seeing a continuous increase in trust toward cryptocurrencies. On the one hand, more and more companies are starting to accept them as payment. On the other hand, people are now using digital currencies more often for their personal needs: as a savings vehicle and as a form of payment. 

    The primary driver of these trends have been publications in traditional media, the Davos summit where the crypto market was widely discussed, and the adoption of the 5th AML directive which is protecting the investors. The crypto market has felt the effects of the global recession in the last six months, but to a lesser extent than traditional financial markets. Right now, in a time of economic turmoil, digital currencies may represent an additional opportunity to diversify. 

    “Cryptocurrencies attract investors as an alternative instrument. Recent market data shows a quite high return rate, considering that volatility has reduced substantially. Very low interest rates and hence low returns from traditional instruments, such as government bonds, index funds, etc., also lead to investors seeking out alternative options to invest their money into,”

    added Konstantin.

    Increased Trader Activity

    During the first half of the year, CEX.IO saw increases in trader activity. For example, the average length of time over the past month between a placement and fulfillment of an order was about 20 seconds. For comparison, a year ago that figure was 5 minutes. It shows the decrease of the long-term limit orders’ dominance. What it means is, the market orders and the orders placed by the automated trading algorithms start prevailing. 

    Out of all the traders, 66% are turning a profit for themselves. For traders who are active 70% of business hours, the average success rate increases to 73%. It was also noted that 95% of CEX.IO’s new customers place their first order through the platform on the same day they make their first deposit.

    Bitcoin and Ether 

    Bitcoin remains the cryptocurrency of choice for crypto enthusiasts. Over the last 2 years, the portion of CEX.IO’s customers that have at least 1 transaction involving BTC on the platform grew from 50% to 83%. Starting in February, there was stable growth in trading volume on the exchange, followed by a decrease in late May and June. 

    According to the statistics, in 2020 the best day of the week to buy BTC is Friday, while the worst day is Thursday.

    Ether is seeing the opposite: over the last 2 years, the portion of CEX.IO customers with at least 1 transaction involving ETH has dropped from 26% to 7%.

    “People look at BTC first, and that is the currency they use for their so-called ‘first click.’ ETH is only the ‘second click,”

    explains Mr. Anissimov. Nevertheless, at the end of July, Ether went through a rise of both popularity and price – which can be explained by the growing attraction of DeFi and the expectations regarding Ethereum 2.0. 

    Alternative Cryptocurrencies

    Interest in altcoins (alternative cryptocurrencies) remains high. They differ from the primary cryptocurrencies in larger jumps in price, which increases both the risks and the number of people interested in making money from those jumps. CEX.IO’s analysts comment that demand is growing for services involving trading and speculation.

    Starting from when the pandemic began, USDT’s market share on CEX.IO has been steadily increasing. Among coins that have appeared on the platform within the last year, TRX and ADA have sparked particular interest among traders. ADA became the most popular coin among CEX.IO’s high volume users and saw the most growth out of the “newbie” coins in the first half of 2020. 

    Overall, LINK had the largest increase in capitalization among coins in the first half of 2020, while XRP had the largest drop. XRP is a “corporate” token, so its price depends on corporate news. ADA’s success can be attributed to the fact that its audience shows a lot of interest in the coin, and its representatives work closely with their followers.

    “The speculative portion of the value in most altcoins is quite high. I.e., a lot of motivation to buy them likely comes from the idea that their price may grow rather than from the utility of the tokens themselves,”

    Konstantin explains.

    CEX.IO’s analysis predicts that the recession may have a negative effect on the crypto industry as well, but in any case that effect will be delayed. If the global economy shows signs of recovery in the near future, the recession’s influence may prove practically insignificant for the crypto market. 

    About the CEX.IO Exchange

    CEX.IO was founded in 2013. It is now one of the largest international crypto exchanges, with 7 years’ experience in the crypto market, 3 million customers around the world, a team of 250 professionals, headquarters in London, and offices in the UK, US, Ukraine, Gibraltar, and Cyprus. The exchange serves market players at all levels, from beginner users to professional traders and financial institutions, with a multifunctional, reliable system for exchanging digital assets.

  • Is Tether Still Backed by US Dollars?

    Is Tether Still Backed by US Dollars?

    It’s no secret that cryptocurrencies have a turbulent reputation. Ever since the launch of Bitcoin (the first cryptocurrency) in 2009, digital assets have been condemned by banks, global governments, and even the US State Treasury. But the establishment of stablecoins such as Tether promised to bridge the divide between crypto and fiat currencies – creating a virtual asset that was backed by strong economies.

    Tether (also referred to as USDT) first entered circulation in 2014. In the 6 years since, the USDT news outlets have had much to discuss. From speculation surrounding the relationship between Tether and Bitcoin, to the worry that the stablecoin really wasn’t as stable as it appeared, it’s understandable that many people are now unsure exactly how reputable Tether is.

    Nobody wants to get scammed out of their money, and with the cryptocurrency market notoriously difficult to regulate, how can you be sure that Tether is worth the investment? In this article, we’ll be debunking the myths and explaining whether Tether is still backed by US dollars.

    What is Tether and how does it work?  

    Firstly, let’s recap on what exactly Tether is. Tether, which entered circulation in 2014, was one of the world’s earliest stablecoins. The term ‘stablecoin’ refers to the fact that Tether is tied to the US economy. While cryptocurrencies such as Bitcoin are famously volatile (the volatility of Bitcoin reached a record high of 8% in the three months between October 2017 and January 2018), stablecoins theoretically always maintain their value against the dollar (or whichever fiat currency it’s tied to).

    Tether and the US Dollar

    The company which launched Tether – the Hong Kong-based Tether Holdings – claimed upon launching the altcoin that 1 USDT has been designed to be equal in value to $1. For every 1 USDT that was issued, there would also be $1 in reserve, and this value wouldn’t deviate from the dollar by more than one cent.

    This would ensure a strong backing, making Tether substantially more stable than more ‘conventional’ cryptocurrencies. It’s sometimes known as the ‘digital dollar’ to reflect this relationship – but it’s important to note that Tether Holdings has no legal obligation to exchange Tether for dollars or vice versa. In the legal section of the Tether website, it states: “There is no contractual right or other right or remedy against us to exchange or exchange your Tethers for money. We do not guarantee any right of return or exchange of Tethers by us for money.”

    Why has Tether been controversial?

    As we mentioned earlier, Tether is no stranger to controversy. In June 2018, the University of Texas published a study that suggested Tether was being used to alter the price of Bitcoin during market downturns. On cryptocurrency exchanges, USDT is generally considered to be equal to $1 (the fiat price). But speculation has long been rife that Tether Holdings previously created an excess of Tether tokens in order to manipulate the market for its own gain.

    Between October 2017 and January 2018 – coinciding with Bitcoin’s period of rapid volatility – the amount of Tether in circulation had increased from roughly 450 million USDT to a staggering 2.27 billion. This sparked concerns that Tether wasn’t actually backed by US dollars. After all, if every Tether is supported by a reserve of $1, how had Tether Holdings acquired the funds to support this growth so quickly?

    In May 2018, this resulted in an enquiry by the US Department of Justice to determine whether Tether was being used to manipulate the price of Bitcoin. Although the findings weren’t conclusive, a lot of mistrust – and misinformation – still surrounds the stablecoin.

    So, is Tether still backed by the US Dollar?

    The answer to this question is ‘mostly. In 2019, Bloomberg and other news outlets reported that 74% of Tether was actively backed by the US dollar. This means that it doesn’t have the reserves to ensure that every USDT is fully backed by $1. In fact, it was Tether Holdings’ lawyer who confirmed that each Tether token was backed by $0.74 ‘in cash and cash equivalents’. Other stablecoins such as the Gemini Dollar and USD Coin have proved that they are 100% backed by the US dollar. But as the world’s most widely used cryptocurrency, Tether – which currently exceeds $21 billion in online transactions per day – still has millions of loyal users. As governments start to roll out new crypto regulations, we’ll have to wait and see whether Tether will shake off its more negative reputation in the coming years.

  • Bitcoin Price Analysis – Bitcoin Rolls Over Beneath $12,000 But Remains In Short Term Ascending Price Channel

    Bitcoin Price Analysis – Bitcoin Rolls Over Beneath $12,000 But Remains In Short Term Ascending Price Channel

    Key Highlights

    • Bitcoin dropped by a sharp 3% over the past 24 hours of trading as the coin drops beneath $12,000 to reach $11,835.
    • Despite the recent price drop, the downside is limited to the lower boundary of the current ascending price channel.
    • Interestingly, flood warnings in China caused the Bitcoin Hashrate to drop yesterday.

    Bitcoin fell by a sharp 3% over the past 24 hours of trading as the coin rolled over from $12,400 to break beneath $12,000 as it reaches $11,800. Prior to this, Bitcoin had jumped above the resistance at $12,000 to reach as high as $12,471 (1.414 Fib Extension level). This resistance is further bolstered by the upper boundary of a short term rising price channel.

    It was unable to overcome this resistance, which led to Bitcoin rolling over and falling today.

    Interestingly, the Bitcoin hash rate dropped by around 10-15 exahashes over the past 24 hours;

    The hash rate is provided by the miners who provide computational resources to unlock Bitcoin blocks, facilitate Bitcoin transactions, and release new BTC into circulation. The hash rate offers security to the Bitcoin network, and any substantial fall in the hash rate is likely to cause widespread panic in the Bitcoin community.

    From the chart above, we can see that the EH/s level dropped from 140.7 EH/s to beneath 108 EH/s – quite a significant drop. As it turns out, this is primarily due to the problem of mining centralization in China. Reports have estimated that over two-thirds of the entire Bitcoin mining power comes from China – concentrated in rural areas where the electricity is exceptionally cheap.

    The cost of mining is substantial, and the costs can be reduced if electricity prices are lower. This is why we see a large proportion of the mining for Bitcoin in China. Although this has been an issue since the early days of Bitcoin, it has never really caused a problem as Chinese miners conduct their operations for profit, making them extremely reliable. 

    However, the recent drop in hash rate is mostly a result of mining centralization in China. Yesterday, there was a weather warning due to heavy rain, which caused power stations in rural areas to cut off their power to avoid the risk of flooding. This caused the EH/s to drop aggressively – resulting in Bitcoin rolling over and falling beneath $12,000.

    Despite the recent price drop, the market still remains in a bullish trading channel.

    Quickly taking a look at the order books, we can see that there is quite some buy support leading to $11,700. However, on the same token, there is strong resistance to overcome before we reach $12,000.

    Buy/Sell BTC

    Bitcoin Price Analysis

    BTC/USD – 1 DAY CHART – MEDIUM TERM

    What has been going on?

    Taking a look at the daily chart above, we can see that Bitcoin had rolled over from the resistance at the upper boundary of the price channel on Monday. Yesterday, the coin dropped lower from this level as it broke beneath $12,000, and the price fall continued today as it reached support at the lower boundary of the channel.

    Let us take a look at the 4HR chart for a clearer perspective of what is going on;

    BTC/USD – 4HR CHART – SHORT TERM

    What has been going on?

    Looking at the 4-hour chart above, we can see how Bitcoin failed to overcome the resistance at the upper boundary of the channel – which is the 1.414 Fib Extension resistance. It rolled over to drop beneath $12,000 and reached the support at the .236 Fib Retracement at $11,600. 

    The buyers are defending this level aggressively to keep the market within the trading channel.


    You may notice that there is another parallel line beneath the trading channel. This is a duplicate of the same slope at a lower level. You can see that Bitcoin has spiked into this duplicate slope several times during August 2020. If we break beneath the lower boundary, then this duplicate should act as the final boundary of support. If this second slope is broken, Bitcoin is likely to head back beneath $11,000.

    Bitcoin price short-term prediction: BULLISH

    Bitcoin still remains bullish if we stay in the confines of this price channel. A drop beneath the duplicate boundary would cause BTC to turn neutral, and a further collapse beneath $10,645 would put Bitcoin in danger of becoming bearish again.

    If the sellers do push lower, the original lower boundary of the price channel should provide the first level of support. This is followed by added support at $11,613 (.236 Fib Retracement) and then the duplicated slope.

    If we break beneath this duplicated slope, support lies at $11,400, $11,080 (.382 Fib Retracement), and $11,000.

    Beneath $11,000, support is then found at $10,645 (.5 Fib Retracement), $10,400, and $10,200 (.618 Fib Retracement).

    Where Is The Resistance Toward The Upside?

    On the other side, if the bulls can regroup and push BTC back above $12,000, resistance lies at $12,126 (1.272 Fib Extension), $12,352, and $12,471 (1.414 Fib Extension & upper boundary of the channel).

    If the bulls can push above the upper boundary of the price channel, resistance lies at $12,600, $12,841 (1.272 Fib Extension), and $13,000.  

    What Are The Technical Indicators Showing?

    The RSI has dropped well beneath the 50-line on the 4HR chart to indicate that the sellers are in charge of the market momentum. Luckily, the 4HR Stochastic RSI is in oversold conditions and is primed for a bullish crossover signal, which should send the market higher.

    Bitcoin forecast.

    Not much has changed since the forecast from yesterday. Remember the two options I provided?;

    Well, it seems that we are following the slower price increase in the channel. So long as we can remain in this price channel, we do not have too much to worry about in the short term. A break beneath $11,000, on the other hand, would be quite disastrous for Bitcoin in the short term.

    Buy/Sell BTC
  • Bitcoin Breaks Above $12,000 While Ethereum Attempts to Catch Up

    Bitcoin Breaks Above $12,000 While Ethereum Attempts to Catch Up

    Konstantin Anissimov, Executive Director at CEX.IO:

    Since August 2nd, Bitcoin entered a consolidation phase that saw its price make a series of higher lows. However, the infamous $12,000 hurdle continued to hold, absorbing any upward pressure. This price behavior led to the formation of an ascending triangle on BTC’s 4-hour chart.

    Consistent with this technical pattern’s characteristics, a horizontal trendline was created along with the swing highs while a rising trendline formed along with the swing lows. As the overhead resistance became weaker over time, the flagship cryptocurrency was poised to break out in an upward direction. 

    On Monday, August 17th, this happened. Bitcoin kicked off the day on a negative posture after being rejected by the $12,000 barrier. Its price plunged from a high of $11,921.32 to hit an intraday low of $11,780 by 2:00 UTC. But as buy orders began to pile up, it was evident that BTC was bound for a major price movement. 

    Around noon, the pioneer cryptocurrency took another aim at the x-axis of the triangle. One hour later, this supply wall could not hold any longer, allowing Bitcoin to surge and achieve its upside potential. Prices shot up over 5% to reach a new yearly high of nearly $12,500. 

    Although this price hurdle was able to hold igniting a 1.63% correction that saw BTC close the day at $12,298.06, the ascending triangle formation estimates prices are bound to advance further. By measuring the distance between the two highest points of this continuation pattern, it forecast that Bitcoin could rise towards $14,000. 

    Ethereum Hits New Yearly Highs But Posts Negative Daily Returns

    Investors seem to be growing overwhelmingly bullish around the upcoming Ethereum 2.0 upgrade. Given the boom in DeFi tokens, speculation is mounting around ETH’s potential to become the “world’s computer.” This sense of optimism can be seen in the number of positive ETH-related mentions across multiple social media networks, which recently reached a new all-time high. 

    Even though increased levels of attention around a particular cryptocurrency is not necessarily a positive sign, it appears that Ether’s price is currently benefiting from the clout. On Monday, August 17th, the smart contracts giant was able to hit a new yearly high of $449, but getting there was not easy. 

    The second-largest cryptocurrency by market capitalization opened the week at a high of $434.19. Nonetheless, it quickly entered a downward trend that saw its price plummet by more than 3% to hit an intraday low of $421.01. This support level seems to have been filled with a significant number of buy orders that allowed Ethereum to rebound. 

    From that point on, ETH entered an uptrend, rising by 6.65% on value slicing through the previous yearly high of $445.66 to make a new one of $449. Investors seem to have taken advantage of the surging prices to realize profits, which cause Ethereum to retrace towards the end of the day. The substantial spike in selling pressure pushed prices down by 4%, and Ether closed at $431.31, providing a daily return of 0.66%. 

    On the Cusp of a New Bullish Cycle

    The recent price action by the top two cryptocurrencies by market capitalization suggests that a new bull market has begun. Although Bitcoin has yet to make a higher high by breaking above June 2019’s level of $14,000, everything seems to indicate that it is headed that way. Given the critical moment where the cryptocurrency market sits, market participants seem to be growing “extremely greedy.”

    In the past, when “greed” reigned on the market, steep corrections followed. Therefore, it is imperative to be cautious when trading in this market and implement a strict risk management strategy. The idea behind it is to protect the investment capital in order to “buy the dip” in the event of a downturn.

  • CryptoGames – Learn how the Eminent Online Crypto Casino has set a Benchmark in the Online Crypto Industry

    CryptoGames – Learn how the Eminent Online Crypto Casino has set a Benchmark in the Online Crypto Industry

    Technology has made massive strides and changed every sector of life dramatically including the entertainment industry. This change in the entertainment industry has massively altered the gambling sector where it raised and piqued the interests of a lot of people, both from the gambling and the non-gambling world. The integration of cutting-edge technologies such as Blockchain and cryptocurrencies in the online entertainment industry has led to the creation of online casinos. Countless gamblers from all over the world have flocked to these online casinos to partake in their favorite gambling activity all from the comfort of their home. This sudden rise of online casinos has completely changed the infrastructure of the gambling world and reinvigorated the entertainment industry. The use of cryptocurrencies in the online gambling industry has led to the creation of a whole world of different opportunities that people could only dream of existing. Cryptocurrency has a more flexible financial option in the online gambling sector as opposed to fiat currency. All of these changes in the gambling world has given birth to a lot of online casinos that grew more prominent over time. As the years rolled the number of online casinos kept on increasing. Unfortunately, most of these casinos failed to provide quality service to its users. These casinos had brittle security protocols, horrendous transaction options, poor options of games, and a bad community that led to an unhealthy environment of gambling. The elite online casino CryptoGames recognizes this dire situation, which is why they have pledged to provide quality services that will pave the way for online casinos and completely change the gambling industry.

    CryptoGames always stays ahead with their top-notch features

    CryptoGames has continued to maintain a dominant position in the world of gambling with their mesmerizing services that have attracted gamblers and led to the creation of a community of users that remain loyal to CryptoGames and are extremely fond of the casino. CryptoGames is operated by a team of trained professionals that possess the necessary skills required to maintain a gargantuan gambling site with a constant influx of ardent gamblers. The moderators and operators of the site are extremely friendly and always available to help the community with any queries, complaints, and feedback that they might have.

    The casino is equipped with numerous effective security protocols that provide unbreakable security to the users’ funds. The deposit and withdrawal options make the financial transactions flawless and effortless. Unlike other casinos that bombard their users with a horde of games, CryptoGames hosts 8 old school games that are widely popular among the veteran gamblers and which also attracts the novice gamblers. The games also come with their own set of detailed tutorials that help the users master the game quickly. CryptoGames also holds lucrative monthly wagering contests that create a healthy competitive atmosphere and creates an exciting user experience for the fervent gamblers. All of these services contribute to CryptoGames maintaining a dominating position in the gambling industry.

    CryptoGames provides the ultimate security to user funds through numerous security protocols

    The current boom of the online casino has attracted the eyes of malicious hackers and attackers that try to take advantage and prey on any casinos that have feeble security. An online casino with poor security will inevitably lose its users’ prized and invaluable funds to these atrocious hackers and attackers. A gambling site that wishes to protect user funds must take proper security measures strong enough to block the attacks of the hackers.

    CryptoGames prides itself on its state-of-the-art security protocols that provide unbreachable security to users’ cryptocurrencies. The use of Two-factor authentication and site wide SSL encryption adds an almost unbreakable layer of security that prevents a hacker from gaining access to user information. Even if hackers manage to get into user accounts, they would be unable to withdraw any cryptocurrencies as email verification is always required for withdrawals. User cryptocurrencies are stored in cold wallets, so even if the casino is under seize, they won’t have access to the funds, leaving the hackers empty handed. CryptoGames has taken all of the necessary and crucial security measures needed to provide maximum account security to users’ cryptocurrencies.

    Enjoy flawless and easy deposit and withdrawal options

    The elite gambling site CryptoGames integrated a wide array of measures to provide efficient and smooth financial transactions to its users. CryptoGames has given its users a myriad of options when it comes to depositing and withdrawing cryptocurrencies. Users can make deposits and withdrawals through 10 different cryptocurrencies. CryptoGames supports – Bitcoin, Dogecoin, Ethereum, Litecoin, Dash, Gas, Monero, Stratis, Bitcoin Cash, and Ethereum Classic. CryptoGames also has a test currency called “Play Money” that allows users to test out and master different strategies in the games without risking their own funds.

    CryptoGames also supports a wide assortment of altcoins with the integration of “CoinSwitch” that automatically converts the users’ altcoins to any one of the 10 supported cryptocurrencies. Users can also withdraw the currencies to any of the altcoins they choose by using “CoinSwitch”. All of these ensure a consistent and swift financial transaction and saves users valuable time that they can now spend on their favorite gambling activity.

    Participate in exclusive promotions, lucrative events, and enjoy cool incentives at CryptoGames

    The elite gambling site CryptoGames hosts a multitude of exciting promotions and events throughout the year that lifts the spirits of users. These events give the user a wonderful opportunity to win loads of free coins, voucher codes, lottery tickets, and other lucrative rewards. During festive events like Halloween and Christmas, CryptoGames gives out coins and lottery tickets to its users and hosts numerous custom games. Daily events are held which are some fun tasks that rewards users for being the first to complete. The casino hosts a special “No Bet Speed Limit” event every Monday, which the gamblers can exploit to collect even more coins and rewards as a larger number of bets per second can be placed during this special day. Mondays have become a lot more exciting.

    CryptoGames has a cool incentive called “Faucet” that hands out free coins to players that can be used to test different strategies. These “free-coins” allow the users to play games without any worry and help them to implement different techniques that make them better players. Players with a high-level faucet can claim more rewards than those with lower-level faucets. A player has to complete a certain set of tasks to be able to level up their faucet. A maximum number of 6,150 Satoshi can be claimed at the highest faucet level.

    Furthermore, CryptoGames has another rewarding called “Rain” that rewards its users with free coins for their contribution to the community. This is a special feature of chatbox and helps to create a friendly atmosphere as gamblers are rewarded for being kind and helpful to each other. The casino has created a smart system that can detect spammers and thus only rewards friendly gamblers accordingly.

    Finally, there are games with enormous bitcoin and altcoin jackpots that any gambler would love to win! Currently, the games of bitcoin dice and roulette have progressive jackpots that are the center of attention for all ardent gamblers. The bitcoin dice jackpot currently stands at a mind-boggling amount of 3.778 BTC waiting to be snatched by one lucky player.

    Partake in CryptoGames thrilling monthly wagering contests

    People are competitive by nature and CryptoGames creates a healthy competitive atmosphere by holding monthly wagering contests. These monthly wagering contests are extremely popular among fervent gamblers and becomes a battleground for gamblers to participate and show off their skills as they rise to the top of the leaderboards. These contests are where the veteran and novice gamblers battle it out for the ultimate prize. After a month-long battle, winners are crowned at the end of the month and are hailed as champions of the month. The champions are rewarded with lucrative prizes and the highly desired VIP tags that grant exclusive access to site-wide features. The tags last till the start of the next wagering contest allowing users to enjoy and boast about their spoils to other gamblers. The following is a list of rewards given to the top players of the leader board which may be subject to future change:

    • Bitcoin: Top players on the leaderboard are awarded a total of 5 prizes that sum up to 18.5 BCH.
    • BitcoinCash: 3.84 and 828 lotto tickets are distributed among the top 10 winners.
    • Dash: Top 5 players on the leaderboard are given a total of 18.50 DASH.
    • Dogecoin: 975,000.00 DOGE and 320 lotto tickets are distributed among the top 5 players on the leaderboard.
    • Ethereum: 21.80 ETH and 828 lotto tickets are distributed among the top 10 winners.
    • Ethereumclassic: 185.00 ETC is distributed among the top 5 players on the leaderboard.
    • Litecoin: 42.50 LTC total bonuses and 790 lotto tickets are distributed among the top 7 players on the leaderboard.
    • Monero – 23.30 XMR total bonuses distributed among the top 5 players on the leaderboard.
    • NeoGas: 290.00 GAS total bonuses are distributed among the top 10 players on the leaderboard.
    • Stratis: 1,155.00 STRAT total bonuses are distributed among the top 5 players based on their position on the leaderboard.

    Dive into a world of blissful gambling with CryptoGames

    In the world of gambling, the only commodity other than cryptocurrency that is invaluable to a gambler is time. A gambler must make the perfect use of time if he wants to live up to his full gambling potential. Every minute wasted in trivial matters leads to the wasted opportunity of earning cryptocurrencies. Keeping this in mind a gambler needs to choose an online casino that will help them realize their true potential and make the experience of gambling enjoyable. The elite gambling site CryptoGames excels here as it assists gamblers into making the best use of their time and savor top-notch entertainment in the process. Its simplistic and user-friendly interface makes browsing through the site a pleasant experience for gamblers. Secure and smooth deposit and withdrawal options enable a swift and constant flow of cryptocurrency. Unbreachable security protocols protect user funds even in the worst-case scenarios. The monthly wagering contests fulfill the desire of users by creating a healthy competitive atmosphere and provide players with excellent opportunities to win free coins. All of these services allow CryptoGames to maintain a dominating position in the industry and create a community of faithful gamblers that enjoy the services provided by the casino for years to come. The casino has also taken important steps to make sure that users are gambling safely and responsibly. CryptoGames has included a “Self-Exclude” feature that will lock the account of a user for a while if they feel like they are spending too much time gambling. Support is always available for users for any queries or issues they might have. Become a part of this phenomenal online casino and enjoy the world of gambling in all its glory!

    Links of interest

  • Top 3 Coins to Watch – Week 34

    Top 3 Coins to Watch – Week 34

    It’s already Week 34 of 2020 and we are back with another selection of top 3 cryptocurrency projects that have the greatest potential for major product improvements and/or price movements. This week, the world’s first crypto tops our list again.

    coins-to-watch-week-34-bitcoin

    1. Bitcoin (BTC)

    Although we believe that Bitcoin doesn’t need much introduction, here is a quick summary of important information. The world’s pioneer cryptocurrency was launched by a pseudonymous figure named Satoshi Nakamoto in 2009 and has a capped supply of 21 million coins. The decreasing miner block rewards makes the cryptocurrency scarcer with time, ensuring a deflationary nature.

    Buy/Sell BTC

    Several reasons to Why You Should Keep an Eye on Bitcoin this Week

    Bitcoin has challenged the $12,000 resistance level three times in a month. A few times the price even went past $12,000, at least on some exchanges, but the price increase was short-lived, and Bitcoin always quickly returned to sub $12,000 levels. On August 17, however, Bitcoin surged above $12,000 with greater confidence, indicating a higher likelihood that the price will stay in this range for a longer period. Furthermore, the price of Bitcoin has et a new high in more than a year by surpassing its valuation from July 10, 2019.

    Nevertheless, Bitcoin dominance is lower that what we are used to. In fact, the growing popularity of altcoins, especially those from the DeFi sector has pushed BTC dominance under 60%. With BTC dominance currently at 58.3%, Bitcoin’s market share has reached the lowest percentage since June 2019. However, if (or should we say when), the altcoin season comes to an end, investors will likely flee to stablecoins (USDT) and Bitcoin. Even in case of an overall bearish market, Bitcoin would probably lose some of its USD denominated value, but it would strengthen its position among other cryptocurrency and again increase its dominance. Some analysts believe that such a readjustment might even be a necessary step before Bitcoin can reach towards a new ATH price.

    Another argument indicating that the bullish trend might continue over the course of a few more weeks is the correlation with traditional markets. While Bitcoin’s price has been largely independent prior to March 2020, it has since been showing a higher correlation with the S&P 500 index, gold and stock markets in general. And the stock market is not cooling off just yet, in fact many indexes are nearing their ATHs, likely due to trillions of USD being pumped into the system by governments all over the world.

    Furthermore, Bitcoin is getting recognized as a great hedge against inflation by individual investors as well as several big players in the financial industry.

    According to TradingView, Bitcoin and Tesla’s Stock (TSLA) are two of the most viewed assets by the US investors and cryptocurrencies are especially popular in the West Coast states of California, Washington, and Oregon. A similar insight was shared by Binance CEO Changpeng Zhao, who tweeted:

    Naturally, investors are not only viewing the assets, but many of them who are taking an interest into Bitcoin are also investing. Grayscale, the biggest cryptocurrency asset manager, has recently aired a TV commercial advertising its cryptocurrency products. The 30-second  TV ad reportedly resulted in more than $217 million poured into Grayscale’s Crypto Trusts.

    Even the very vocal Bitcoin critic and a well-known investor Warren Buffet appears to have shifted his investment strategy. After years of downplaying the value of gold, Bitcoin and other stores of value, while boasting about the banks’ future prospects at the same time, he has gone completely against his investment mindset in Q2, as his Berkshire Hathaway has sold pretty much all of its bank stocks and increased its exposure to gold.

    Given the trillions that have been printed as a result of the COVID-19 pandemic, his analysts must have figured out the obvious – that the inflation is inevitable. Then someone from his team likely suggested that gold is a great inflation hedge asset to put in your portfolio, so that is what Buffett did, despite it being completely against his values. Anthony Pompliano  wrote:

    “In fact, the most technologically innovative business that Berkshire is invested in (Apple) has been their best performer — shocker! When your portfolio is being crushed this bad, it forces people to re-evaluate their strongest held beliefs.”

    But guess which other asset is a hedge against inflation? Yep, you guessed it – Bitcoin! Just ask Paul Tudor Jones, Pompliano noted:

    “Warren Buffett and Berkshire Hathaway have chosen to gain exposure to gold in the face of potential inflation and Paul Tudor Jones chose to get exposure to Bitcoin because it is likely to be the “fastest horse.” So what exactly is the difference between gold investors and Bitcoin holders?”

    Last but not least, business intelligence company MicroStrategy has recently announced that it had invested $250 million into Bitcoin as a hedge considering the current macroeconomic landscape. The firm cited financial stimulus programs and quantitative easing as some of the factors that led to its big bet on BTC.

    coins-to-watch-week-34-tron

    2. Tron (TRX)

    TRON is a project that aims to develop a free content entertainment platform that would utilize the blockchain and distributed storage technology. TRON users are able to easily publish, store, and own data, while subscription and content distribution is handled by the decentralized system.

    Buy/Sell TRX

    TRON to Launch JustSwap DEX This Week

    This week, the Tron Foundation is set to strengthen its push into DeFi waters with the launch of its JustSwap DEX on August 18. JustSwap will feature TRC20 token trading while also allowing users to earn trading fees and mining rewards. Additionally, TRX holders will be able to take out USDJ loans using their TRX tokens as a collateral. The roll-out of the JustSwap DEX is a very important event for the TRON network that could have significant effects on its ecosystem.

    coins-to-watch-week-34-swipe

    3. Swipe (SXP)

    Swipe is a crypto debit card issuer that allows its users to easily spent their cryptocurrencies for everyday purchases. The Swipe Token is the project’s utility token.

    Buy/Sell SXP

    Multiple Airdrops Scheduled for This Week

    SXP holders will be able to benefit from a Swipe Governance Token (SGV) airdrop that is scheduled for this week. The Swipe’s team will distribute 1 SGV for every 100 SXP owned on August 17, 00:00 UTC.

    The airdrops go both ways, though. Following an acquisition by Binance, the company is also going be airdropping $16,000,000 worth of SXP Tokens to holders of the exchange’s native BNB token. The tokens will be delivered on a weekly basis with the first batch of 4,000,000 SXP going out to BNB holders who keep their tokens on Binance already on August 17. Binance describes the details of the airdrop program here. Additionally, Swipe has recently conducted its 2nd quarterly token burn, which saw 215,817 SXP tokens ($396,120) destroyed.

  • Ethereum Delivers Medalla: What’s Next?

    Ethereum Delivers Medalla: What’s Next?

    Key Highlights:

    • The Ethereum foundation has launched Medalla, one last testnet before Eth2
    • After transitioning to Eth2, Ethereum miners will turn into validators… if they can
    • The price of the coin has been showing encouraging action over the summer, what’s next?

    In the afterlife of Eth2, also known as Serenity, we will be witnessing such epic features as Sharding, PoS and as Vitalik Buterin has put it, “an opportunity to participate in the network at all scales”. This means that a regular user will be able to validate. No professional mining and staking farm needed, no tons of electricity spent, just enough money in your account. The minimum threshold is 32 Ether.

    Let’s examine the Medalla testnet, future Ethereum validators and the current price action in detail.

    Why Medalla is important

    The road leading to Serenity, the new state of Ethereum, isn’t so bumpy as it’s long. In order to reach this state, the developers will need to roll out phases 0, 1 and 2 throughout the years to come.

    Medalla has definitely pushed us closer to phase 0, that’s why everybody was so pumped not only about the switch but also the price of the asset.

    When developers make sure the final multi-client public testnet is safe and sound to run, they will switch to the Beacon Chain, an important part of the whole Eth2.

    This chain will manage the PoS consensus, including validators and shards. And shards, in turn, are a key feature of the new protocol since not only do they store their state, but also improve the overall transaction throughput.

    So in phase 0, we will already have the Beacon Chain implemented. Using manifold testnets, the Ethereum devteam has already tried its features and functionality, but with Medalla, the whole world can participate in the test.

    Let’s have a peek at the roadmap that was leading us to the Eth2 state and those latest testnets.

    The road to Medalla

    The Ethereum devteam has been working on the switch to the Serenity state for quite some time now. In Vitalik Buterin’s words, such a switch appeared on the agenda from the very beginning.

    But everything started from the Frontier phase (2014-2015), the earliest implementation of Ethereum that culminated in the finished product going live in 2015.

    The next one was Homestead (2016-2017), the phase to stabilize the network, and then Metropolis, the phase (2017-2020) preparing us for Serenity, followed.

    This very last phase was all about security updates, a larger automation degree and of course testnets to run the Beacon Chain functionality. Let’s catch a glimpse of those testnets.

    The Beacon Chain in miniature saw the light for the first time on the Sapphire testnet in April 2020. The nodes used small deposits of 3.2 Ether.

    The Topaz network appeared in May with nodes using 32 Ether. Later, in June, the Onyx testnet gathered around 20,000 validators, and Altona was running steadily in July, and then, Medalla popped up.

    So, what’s your role in this new play?

    Miners or validators?

    As you know, with the Proof-of-Work algorithm, miners spend a lot of energy to solve difficult puzzles.

    With Proof-of-Stake, there will be no place for miners, but there will be validators who put bets on potential blocks and get rewarded in accordance with the staked money.

    How much money will the validators make? It all depends on the total amount of Ether at stake.

    eth-return-rate

    The more Ethereum in the ecosystem is at stake (see column 1), the less annual return the miners will get (column 4), and vice versa. However, the total amount of the minted coins (columns 2, 3) will increase in proportion with the amount of Ether at stake.

    As a future validator, however, you should be aware of the fact that you might be given a ticket, too, for inadvertent and malicious actions.

    The Ethereum price matters

    Essentially, the launch of Medalla signified an important shift, which already had an impact on the price of the asset.

    It’s not financial advance, however, take a closer look at the way Ether has been acting over the past few months.

    Several things factor in the bullish trend, including DeFi growth, the altcoin season flourishing and of course the ETH 2.0 momentum.

    So keep your eye on Vitalik’s coin because it might be interesting to watch in the next few weeks.

  • Top 3 Coins to Watch – Week 33

    Top 3 Coins to Watch – Week 33

    Several cryptocurrency projects are set to meet their developmental milestones this week, thereby looking to increase the usability, security, adoption and, finally, valuation of their respective tokens. With the hype over Ethereum 2.0 cooling off a bit, this week’s selection of top 3 coins to watch focuses on trading and data oracle associated tokens.

    1. ChainLink (LINK)

    ChainLink is a distributed ledger technology (DLT) company focusing on providing input and output data for smart contracts, as they cannot connect to real world data on their own. ChainLink provides a reliable and end-to-end secured connection to external data by establishing its own price oracles and data oracles. Oracles are the data that is fed into a smart contract from a source outside the contract and they are crucial for contract’s operation.

    Buy/Sell LINK

    LINK Skyrockets After Being Called a “Pump-and-Dump” Scheme

    Despite the fact that Zeus Capital called ChainLink a fraud, saying it is the “Wirecard of Crypto” in July, LINK has managed to defy the general downtrend, that has prevailed in the crypto markets over the weekend.

    Even more, ChainLink is currently trading at $13.6, with the price up by 6.3% in the past 24 hours. The 7-day price growth of almost 60% is even more astonishing. In addition, LINK set its new all-time high of $14.25 on August 9. If LINK will be able sustain this growth, the cryptocurrency will overtake Bitcoin Cash and become the 5th largest crypto by the end of this month. Some say that the LINK price rally was triggered by the project’s supporters in response to the accusations made by Zeus Capital.

    2. Switcheo (SWTH)

    Switcheo Network is a decentralized exchange (DEX) platform, which aims to provide a top-notch trading experience, while remaining trustless and completely decentralized at the same time. The DEX that supports the trading of Ethereum, NEO, and EOS-based digital assets is currently entrusted by roughly 43,000 traders.

    Buy/Sell SWTH

    The Launch of Switcheo TradeHub Will Bring SWTH Staking

    Switcheo Network is preparing to roll-out SWTH staking in its TradeHub feature, that is scheduled to go live on August 12. The rewards system, which is set to incentivise early staking, will allow holders who join a staking pool or delegate their SWTH to a validator node in Week 0 to benefit from the 1.92% weekly reward. You can read more about the SWTH staking process and the reward system here.

    3. Digitex Futures (DGTX)

    Digitex Futures Exchange is the world’s first high-liquidity zero-fee futures trading platform. The exchange allows users to buy and sell futures contracts on various digital assets, commodities and financial instruments using the native DGTX token. The potential profits or loses of the trades are also accounted in DGTX, which is where the token’s value derives from.

    Buy/Sell DGTX

    Digitex’s Next Update Will Allow the Use of Automated Trading Algorithms

    While not a lot of time has passed since Digitex’s public launch earlier this year, the team is already looking to deploy additional improvements to their platform. In a upgrade, scheduled for this week, Digitex plans to integrate their new trading API that will allow users to trade using automatic trading algorithms, more commonly referred as “trading bots”. In addition, the futured exchange plans to launch the ETH/USD futures market this month and expand their products to traditional futures such as oil, gold, and the S&P 500 futures later in Q3. The project’s roadmap for the rest of 2020 is outlined here.

  • The Who, What, Why and Where of Bitcoin

    The Who, What, Why and Where of Bitcoin

    WHO

    It is hard to believe how much time has passed since the futuristic currency phenomenon was born, but it has been 12 years! It was back in 2008 that the entity Satoshi Nakamoto first created Bitcoin. Entity, due to the fact that the identity of Bitcoin’s real creator remains a mystery to this day. There have been several speculations, including Hal Finney( the first person to make a bitcoin transaction) and Craig Wright ( a computer scientist who claimed to be the founder). Both have been generally denied by crypto communities and press.

    WHAT

    Bitcoin is a digital currency, and unlike traditional currency, there are no physical notes correlated with each bitcoin, but a massive amount of data and balances provided publicly for maximum transparency. Bitcoin is a collection of computers that essentially run all the code and stores it in a blockchain. Financial freedom and security are the names of the game, and Bitcoin enables users to transfer amounts of money without monitorization. While probably created for good, Bitcoin quickly caught the attention of the Darker side of commerce, namely the Dark web. It was here that Bitcoin quickly gained a somewhat negative reputation for enabling people to buy guns, drugs, and other illegal activities without being traced. In the last few years though, bitcoin is cleaning up its act. Bitcoin is now accepted in the travel, eCommerce and real estate industry offering numerous advantages. The online gaming world has seen a huge spike in bitcoin use, with bitcoin poker players leading the way.

    WHY

    Following the 2008 financial crisis, traditional currency suffered. Almost overnight, trillions of dollars were lost, economies tanked and people lost their life savings because they trusted banks. Cryptocurrency aimed to place more power in the hands of the people. There would be more transparency and less of the banks pulling the wool over people’s eyes so the rich could get ahead. Bitcoin wanted to give freedom and security to anyone who wanted it.

    WHERE

    Much like the identity of the creator the original location of where Bitcoin was created is also a mystery. Very fitting for the nature of the currency. However, I can tell you that there are cities all over the world using bitcoin more and more. Unsurprisingly tech capital San Francisco widely accepts the use of Bitcoin in shops, cafes and restaurants. The Californian city is also home to some of the biggest crypto trading platforms in the world- Kraken and Coinbase. Across the pond, you will find that your digital shekels are widely accepted in Amsterdam, also a crypto industry capitol. In fact, you will find most tech-savvy cities to be in the know with Bitcoin.

    The bottom Line

    Shrouded in mystery, Bitcoin has made vast inroads into being accepted as a currency in modern society. It has overcome many obstacles in the last 12 years, and with the growth of the crypto industry as well as other cryptocurrencies, it is safe to say that Bitcoin is here to stay.