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New features in Ethereum Classic [ETC] but still a 32% drop!

Sthuthie Murthy

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New features in Ethereum Classic [ETC] - Still a 32% downfall?
Source: Flickr

Ethereum Classic [ETC] is wrecking the hopes of its holders since the last 7 days with a steep 32% fall. Among the top 20 coins, this has been the most dramatic downfall. This continuous decline has led the current price to be at $23.67.

ETC is traded in the majority of exchanges like OKEx, Bithumb, and Huobi to name a few. Despite this downward trend, there were a lot of new things happening around ETC. Graphics, Advisors, funding and more. ETC is gearing up for the chase in the long run with the flurry of news about the Callisto airdrop.

Panek, an Ethereum enthusiast says:

“Unless ETC continually adopts ETH’s code then it does not and will not share the same capability. And if it does then it’s just a pointless uninnovative copy.”

ETC has some fresh news:

ETC development team has hired Richard Schumann who will work on improving the graphics and usability of ETC projects for end users.

Robert Bing, a regular Twitter user said:

“I know it’s not really a priority ( function over fashion any day ) but do you think the website could use a little revamp cosmetically?”

He tweeted on his Twitter account recently:

He further tweets:

They have also added a new member to the moderation team and have started a second telegram, ETC Italia Telegram. Mario Michel is the new addition who is a MOD on the main Telegram and forums.

New Advisors: ETC Cooperative on its expansion

A new Board of Advisors was introduced with some popular faces from the crypto market – Charles Hoskinson, Elaine Ou, Igor Artamanov, Barry Silbert and James Wo.

They are planning on revamping the ETC site, create a system to fund community-driven projects and in addition, have a few surprise announcements in line.

They have also decided to use the funds donated by the community to improvise the ETC ecosystem. They will announce the 500k+ fund by the community that is to be put towards projects.

Another good news for ETC holders is the addition of ETC on Centra Cards. Users can now spend their ETC currency with a centra debit card.

Robbert, a market enthusiast said:

“Good to see that ETC is putting in efforts for marketing.”

Partha, an ETC follower on Twitter said,

“Thank you – 2018 will be an incredible year for ETC – many irons in the fire.”

AMBCrypto also spoke to an ETC investor, Jamie Cronjie from Capetown, he says,

“ETC is a pointless fork with stupid philosophical values. I know I did invest but this is what I have to say. I really don’t see much utility or value proposition here. ETC handled the highest volume of transactions ever just yesterday but unfortunately, I think everyone was selling. It is not the bottom yet. Waiting for an announcement of the listing date and time of the hard fork and air drops of Callisto. We are close to the bottom, should be up from here, then again depends on the Bitcoin market”



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Sthuthie Murthy is a full-time reporter at AMBCrypto. She has been researching and writing about the Blockchain technology for a year now. Her passion for blockchain has led her to be a part of AMBCrypto's news reporting team. She does not hold value in any cryptocurrencies currently.

Altcoins

Bitcoin [BTC/USD] Technical Analysis: Cryptocurrency fails to climb on the bull after price stays locked down

Akash Anand

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Bitcoin [BTC/USD] Technical Analysis: Cryptocurrency fails to climb the bull after price stay locked down
Source: Unsplash

The cryptocurrency market’s bearish woes do not seem to have waned with several popular coins seeing a continuous price downturn. Bitcoin [BTC], XRP, and Ethereum [ETH] have only enjoyed sporadic bullish spikes with a definite control being exerted by the bear.

1-hour

The one-hour BTC chart shows the gradual drop in prices. The support has been holding at $3214.17 while the resistance is maintained at $4160.21. The recent downtrend took the prices down from $3558.58 to $3367.97.

The Relative Strength Index shows a slight spike towards the overbought zone. This means that the buying pressure is increasing slightly more than the selling pressure.

The Bollinger band shows a clear divergence with the upper band and the lower band indicating an imminent sideways price movement.

The Parabolic SAR has been predominantly bearish with the markers staying above the markers. At the time, the SAR indicators were below the price candles which is a bullish sign.

1-day

The one-day chart for Bitcoin does not paint a better picture for the cryptocurrency with no uptrends in sight. The long-term support has been holding at3346.6 while the recent downtrend saw the price fall from $6262.97 to $3408.

The MACD indicator shows the MACD line and the signal line moving as a conjoined pair. Other than the bearish dip, the MACD histogram has been undergoing a lull.

The Chaikin Money Flow indicator is just below the zero line, which is a sign of the money flowing out of the market being more than the money coming into the market.

Conclusion

The above-mentioned indicators all point to an extended bear run with the prices still being clamped below the $4000 mark. With the year coming to a close, the predicted bull run does not seem to be occurring anytime soon.

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Binance Coin [BNB] takes off by 11.31%; ERC20 uniswap bug affecting BNB users, but CZ says funds are SAFU

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Binance Coin [BNB] takes off by 11.31%; ERC20 uniswap bug affecting BNB users, but CZ says funds are SAFU
Source: Unsplash

Binance Coin [BNB], in the 24-hour time frame, has spiked by a massive 11.31% leaving other Bitcoin [BTC], Ethereum [ETH], XRP, and other cryptocurrencies to eat dust amid the doom-December.

In the 24-hour time frame, the BNB coin started trading at $4.63 with a market cap of $605 million on December 11, 16:30 UTC. The price dipped to $4.59 within a couple of hours but didn’t stay there for long as the prices saw four significant spikes.

Source: CoinMarketCap

The first spike propelled the price to $4.90 while market cap increased by $34 million, this was followed by a correction of prices to $4.83.

The prices couldn’t reach the $5 mark as the prices exhausted at $4.97. The third spike which was followed after the correction also lost the strength and ended up at $4.97.

The most significant rise was the one that took place on December 12, 16:10 UTC which propelled the prices beyond the $5 mark as it reached $5.15. The market cap also took a huge bump and reached $675 million.

The price fluctuation could be attributed to two reasons, the first being the launch of Binance DEX, which will swap the ERC20 token, BNB from Ethereum platform to Binance blockchain, which was announced by Binance and CZ.

It could also be due to a bug that was tweeted out by a Twitter user Uniswap.

The tweet stated:

“1/ WARNING: BNB providers

Due to a bug in the binance BNB contract it’s possible to add liquidity to the Uniswap BNB<>ETH liquidity pool but not remove it.

This bug is a variation on the “missing return value” ERC20 bug which affects several tokens.”

CZ replied to this tweet:

“Nothing new here. If you send token to a contract address, you won’t get it back. Just like if you send tokens to an address you don’t control for no reason, or a (valid formatted) address no one controls, you won’t have a way to get it back.”

CZ eventually being the humble person he is, tweeted out saying that people who had lost tokens due to this would recieve BNB from Binance.

CZ replied in subsequent tweets about this bug.

“Protecting users is not just talk. It requires action. Stay #SAFU!”

“One guy actually made quite a bit of profit out of his honest mistake. He sent it when it was cheap, and got it back when it was a big multiple.”

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