Posts From Januar 2021

Ethereum hits record highs but profit-taking begins

After Ethereum’s absolute historical highs, today sees a clear prevalence of red signs.

There is confirmation of further profit-taking accompanying prices downwards.

A decline that is not worrying at the moment but that is starting to give signals, especially for Bitcoin, that traders have taken advantage of the climb above $40,000 to take profit.

The descent comes less than 24 hours after new all-time highs for Ethereum, which yesterday updated its absolute all-time high to $1,439 (Bitfinex data), albeit by a few dollars. It is an all-time high that sees the third highest volume peak in Ethereum’s history with Bitcoin Loophole over $11 billion traded.

In contrast, for Bitcoin, as well as most other altcoins, yesterday was not a particularly busy day with Bitcoin trading just over $8 billion. This is a sign that generally indicates a time for reflection.

Today sees over 90% of cryptocurrencies in negative territory. Among the top 25 there is only one green sign, that of Vechain (VET), which is up 7%, the only counter-trend of the day today.

Hedera Hashgraph (HBAR) jumped up 39%, followed by Enjin Coin (ENJ), which rose 19%. Third place on the podium for Ren, which gained just under 10%.

Despite the weakness of the last few hours, the market cap remains above $1 trillion with Bitcoin confirming its 65% dominance, while Ethereum retains 14%.

Defi-Pulse 200121

DeFi’s TVL retreats as the market steps back. Total Value Locked declines to just under $25 billion. Maker continues to confirm its leadership. Aave and Compound follow.

Bitcoin breaks the triangle that had been formed in recent days to the downside, with prices in these hours going to test the most important trendline, trendline that joins the rising lows from mid-December and that passes to today’s lows, dynamic support levels.

This is a technical signal to be followed carefully throughout the day. A further extension below 34,000 would begin to give the first sign of short-term weakness after 5 weeks of strong rises.

This is a technical signal that is only valid in the short term, while in the medium term there is room for a fearless descent to the $29,000 area. In the current situation, a bullish signal would only be given with prices below $40,000.

02 ETH 20210120
Ethereum Chart by Tradingview
Ethereum (ETH), falling after historic highs
Ethereum, after the new historical records, sees prevailing profit-taking that make the quotations retreat in the area of $ 1,300.

At the moment, there are no danger signals even in the short term. They would only develop with quotations below 1,100 dollars.

Bitcoin Upgrades, Vorbereitungen für eine private Zukunft

Der Bitcoin Core 0.21.0 ist nun live, wie ein Update am 15. Januar gezeigt hat.

Eine sichere und private Grundlage für Bitcoin schaffen

Die neueste Iteration der Bitcoin-Implementierung führt mehrere Änderungen ein, die das Fundament für ein sichereres, privateres und robusteres Netzwerk legen.

Nach der Veröffentlichung von 0.21.0 können Betreiber von Full Nodes und Miner nun feststellen, dass diese Version das neueste Adressformat von Tor unterstützt und Gebühren manuell in Satoshi gesetzt werden können. Damit entfällt die Notwendigkeit, einen Gebührenschätzer zu verwenden.

Es steht ihnen auch frei, den Taproot-Code auf dem Bitcoin-Signet zu testen, obwohl zwei Monate nach der Einbindung des Quellcodes noch einige Änderungen vorgenommen wurden.

Taproot Code zum Testen verfügbar

Verständlicherweise macht der Zustrom von neuen Nutzern, hauptsächlich Investoren, die ein sichereres und privateres Netzwerk fordern, Änderungen am Kern notwendig.

Eine der am meisten erwarteten Änderungen im Bitcoin-Kern ist Taproot.

Es soll über einen Soft Fork aktiviert werden und soll die Funktionsweise der Bitcoin-Skripte verändern, vor allem im Hinblick auf die Privatsphäre.

Vorteile von Taproot

Ohne Taproot wird es einfacher sein, Transaktionen mit komplexen Vorgängen zu verfolgen.

Allerdings werden diese speziellen Transaktionen getarnt sein, was bedeutet, dass es für Dritte schwieriger sein wird, Änderungen zu verfolgen, da sie homogener mit anderen Transaktionen sein werden. Das macht es für Parteien praktisch schwieriger, zu wissen, ob das Skript überhaupt läuft.

Zusätzlich wird Taproot weitere Änderungen einführen, die Bitcoin skalierbarer und sicherer machen, ohne umstrittene Layer-2-Optionen. Zum Beispiel werden mehr Transaktionen in einen Block gepackt, was zu einer Verbesserung des Durchsatzes auf der Basisschicht führt.

Taproot soll im Laufe des Jahres implementiert werden.

Es wird im Wesentlichen das erste große Upgrade in Bitcoin seit über drei Jahren sein, nachdem die umstrittene SegWit 2X Hard Fork Bitcoin Cash hervorgebracht hat.

Kombiniert mit Bitcoins Unterstützung von Tor V3 Adressen, legen die Entwickler eine solide Grundlage, die Bitcoin letztendlich zum sichersten und privatesten Bitcoin machen wird.

Zunehmend wird die Macht vom Volk verlagert. Die Verfügbarkeit einer besseren Alternative, die von den Massen beherrscht wird, bedeutet jedoch Freiheit von der Kontrolle durch Dritte.

Wie BTCManager berichtet, ist die Krypto-Gemeinschaft zuversichtlich, dass die Preise weiter steigen werden, wenn Joe Biden die Zügel in die Hand nimmt und die Wirtschaft mit Milliarden an Stimuli ankurbeln wird.

Unhappy customer files a complaint against Coinbase over XRP

Another complaint has been made about XRP.

The complainant claims Coinbase owes him commissions because the platform knowingly sold a security.

This topic enters controversial legal territory and needs to be watched closely.

A Coinbase customer filed a collective complaint alleging that the exchange should have known that XRP was a security. What does he hope to gain for himself and for all Bitcoin Cycle customers?

Coinbase: new trial for XRP

Client Thomas Sandoval hopes to recoup some of his losses from XRP by suing Coinbase. Since Ripple Labs announced it was being sued by the US government, the token’s price has fallen.

For their part, major exchanges, including Bittrex , have said they will remove XRP from their rating shortly thereafter. Coinbase similarly announced that the platform would stop trading in XRP on January 19, 2021. Presumably, it feared hostile reactions if the lawsuit ended with a judgment against Ripple.

New Trial in California Federal Court on Single Count Alleges Coinbase Violated State Unfair Competition Laws by Selling XRP, Reportedly Unregistered Security, and Charging Commissions on sale.

The original lawsuit alleges that XRP is a security under US law. This would mean that the Securities and Exchange Commission (SEC) has not legally approved the token’s sale and trading.

The lawsuit involves two executives of the Ripple company and claims they knowingly illegally sold more than $ 1.3 billion worth of securities. The SEC said:

Ripple engaged in this illegal offering of securities from 2013 to present, although the company received legal advice as early as 2012 that under certain circumstances XRP could be considered a […] security under the federal securities laws.

Mr Sandoval takes this idea a little further. Its lawsuit, filed in federal court, argues that Coinbase’s negligence should result in reimbursement of its trading fees .

Logic dictates that Coinbase is responsible for negligence in selling XRP, an unlicensed security in this scenario. Therefore, the commissions that Coinbase charged for the illegal sale should be returned to the customer.

Reimbursement of commissions for all?

In Sandoval’s complaint , the case against Coinbase is built on a technicality. The crypto was a security, which Coinbase should have known, as it understood that the nodes of XRP were under Ripple’s control.

As the company owned the nodes, the nodes were therefore part of Ripple and therefore not a commodity, according to the lawsuit.

This is a particularly interesting argument , given XRP’s reputation for being centralized and “in favor of the banks”. XRP is meant to be a money transfer vehicle (which by definition probably makes it a currency).

Cryptophiles nevertheless blamed it for being centralized, unlike Bitcoin (although most of the BTC mines are in China) or Ethereum .