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Cryptocurrency Brief: BTC/USD manages slight gains despite another SEC ETF rejection, BitMex confirms DDoS attack during routine maintenance, XRP Ledger fully decentralized – Thursday, August 23rd, 2018

Thu, 23 Aug 2018, 11:19 am UTC

BTC/USD: Bitcoin prices managed to gain slightly during European session Thursday, albeit correcting major gains made yesterday, after facing another rejection of Bitcoin ETF by the Securities and Exchange Commission (SEC). A report from CNBC read, "Similar to its rejection of the Winklevoss ETF, the SEC expressed concern about fraud and manipulation of bitcoin markets. It said that NYSE Arca, which filed the ProShares application, had not met its requirement that a national securities exchange’s rules be designed to prevent fraudulent and manipulative acts and practices. Among other things, the Exchange has offered no record evidence to demonstrate that bitcoin futures markets are markets of significant size". At the time of writing, BTC/USD rose nearly 1 percent to $6,424.00. Meanwhile, the near-term support is seen at $6,250.00 and resistance at $6,900.00.

ETH/USD: Following Bitcoin’s trend, Ethereum prices also rose, albeit far below the $300 psychological mark, proportionately lower than its wider peer. In other news, a report from FxStreet said that BitMEX, which is one of the largest crypto exchanges by daily trading volume, took to twitter, to announce that they were facing a DDoS attack yesterday, at the time of a routine maintenance. At the time of writing, ETH/USD rose 0.35 percent to $271.45, not much distant from its day’s low of 268.75. Meanwhile, the near-term support is seen at $250.00 and resistance at $305.00.

XRP/USD: Ripple also followed its wider counterparts, continuing yesterday’s gains, rising slightly during Thursday’s afternoon session. Ripple’s CTO, Schwartz said that the XRP Ledger has now been fully decentralized, adding " The XRP Ledger uses a consensus protocol that relies on a majority of validators to record and verify transactions without incentivizing any one party (this is one of the main reasons why I began working on XRP Ledger more than six years ago). Validators are different from miners because they aren’t paid when they order and validate transactions. Today, these validators operate at locations across the globe and are run by a broad range of individuals, institutions, asset exchanges and more. Put simply, the XRP Ledger is based on an inherently decentralized, democratic, consensus mechanism — which no one party can control", CryptoDaily reported. At the time of writing, XRP/USD climbed 1 percent to $0.32072. Meanwhile, the near-term support is seen at $0.3130 and resistance at $0.3700.

BCH/USD: Bitcoin Cash, remained no different, marching, in line with its counterparts, caught in a tight trading zone, trailing news of a Shariah-compliant crypto exchange floated in the market. Further, China has shut down WeChat crypto accounts, aimed at a fresh crackdown on digital currency activities, after imposing a ban on ICOs in 2017. At the time of writing, BCH/USD traded 0.63 percent up at $521.60. Meanwhile, the near-term support is seen at $510.00 and resistance at $545.00.

EOS/USD: The EOS, also displayed green patterns, hitting day’s high of 4.8140. At the time of writing, EOS/USD rose 0.56 percent to $4.7386. Meanwhile, the near-term support is seen at $4.50 and resistance at $5.00.

LTC/USD: The Litecoin also advanced, similar to its peers, hovering around the $55.00 mark, during Thursday’s afternoon session. At the time of writing, LTC/USD traded 0.40 percent higher at $55.37. Meanwhile, the near-term support is seen at $50.00 and resistance at $65.00.

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  • Bitcoin (BTC) $8,675.95 (+7.81%)
  • Ethereum (ETH) $267.06 (+6.16%)
  • XRP (XRP) $0.408600 (+5.50%)
  • Bitcoin Cash (BCH) $433.19 (+6.71%)
  • Litecoin (LTC) $111.56 (+8.59%)
  • Bitcoin (BTC) $8,675.95 (+7.81%)
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