Coinbase recently announced that it would be adding support for Ethereum Classic (ETC), a hard fork of Ethereum. The announcement caught the crypto community by surprise, as the exchange had repeatedly made it clear that it would not be adding any digital assets in the near future. However, the reaction was swift from the crypto community, with many recognizing the great opportunity the news would create. The price of ETC began appreciating rapidly as demand shot through the roof. In just a few hours, the price had risen by over 25%.
After a Block Producer’s (BP) vote held on June 6th, an official ‘no-go’ was announced for the mainnet launch. The event has been pushed back by at least another 24 hours.
The long-awaited launch of EOS’ mainnet has been further delayed after a BP vote held on June 6th failed to give the green light. A new vote is scheduled to take place 24 hours after security firms perform an audit. At that time, if BPs do not identify any further vulnerabilities the launching process should take place.
At press time, bitcoin is trading for roughly $ 7,460, meaning there’s no change in its overall price. It’s a good sign in the sense that bitcoin hasn’t dropped any further – the current price is a $ 200+ drop from its recent $ 7,600 high – though it’s disappointing that bitcoin is still struggling to surpass present resistance levels.
A new report suggests that bitcoin has already “died” multiple times, incurring its 62nd death earlier this year, and that the latest one is occurring on the 300th anniversary of its first death. In addition, the currency has lost approximately $ 2,600 in its value since the 200th anniversary of its first death in December of last year, and many critics are now claiming the cryptocurrency is “doomed to fail.”
It seems there is no end in sight for the positive cryptocurrency price momentum right now. All currencies remain firmly in the green over the past 24 hours, which comes as a bit of a surprise. The Ethereum price is slowly making its way toward $ 700 once again, even though this trend is a lot slower than most people would expect it to be at this point.
Another day of cryptocurrency trading is upon us. Even though things started to look a bit worrisome last night, there is apparently nothing to worry about whatsoever. The Bitcoin Cash price further confirms things are looking pretty solid when keeping the bigger picture in mind. As of right now, one BCH is valued at nearly $ 1,400.
It is the first time in several days we see small bearish momentum forming in the cryptocurrency markets. Most coins in the top 10 are dealing with small to medium losses over the past 24 hours, which is only to be expected. The EOS price is still going strong as we speak, although this altcoin will not escape the volatility either.
EOS Price Remains Above $ 11.5
Given all of the positive momentum we have seen throughout the cryptocurrency markets in the past week, it is only normal a brief dip looms overhead. These past seven days have been pretty bullish for all cryptocurrencies, even though it is possible today’s brief dip will be bought up pretty quickly in the next few hours.
A lot of interesting things are happening in the world of cryptocurrency right now. With all markets turning bullish once again, we may finally get the price bounce we have all been waiting for. If the Ethereum price is any indication, this will be a very positive weekend overall. Even so, the Ethereum price may not remain above $ 500 for that long, as profit-taking will kick in fairly soon.
Any positive cryptocurrency market momentum remains pretty difficult to come by. Even today, it seemed as if a positive trend would finally materialize, yet most of the top 20 currencies are in the red once again. The NEO price is one of the few exceptions in this regard, even though the going remains pretty tough for this altcoin.
NEO Price Gain is Being Crushed
As one would almost come to expect these days, there is little to no room for long-term passive cryptocurrency market momentum. Whereas it seemed things were off to a good start two hours ago, most of those gains have been eradicated every since Rest assured this is not the last of the bearish pressure either, as there is still a decent amount of volatility in the industry as of right now.
Bitcoin remains on track to re-test $ 10,000 and possibly break higher – as long as prices hold above $ 8,300.
With the majority of Asian nations attempting to regulate cryptocurrency exchanges, the number of those declining to clamp down is dwindling. Malaysia is among those nations that are currently free from regulatory laws and are not imposing a ban on crypto.
According to the Malaysia Reserve, the country’s finance minister said that the central bank will not impose a blanket ban on cryptocurrencies as such action will only curb innovation and creativity in the financial sector, particularly fintech. In an interview with the news outlet, he stated:
The government is fully aware of the need to strike a balance between public interest and integrity of the financial system.