Kraken Security Labs Identifies Ledger Nano X Vulnerabilities: Funds Not at Risk, Ledger CTO Says

Kraken Security Labs found some vulnerabilities in the hardware wallet Ledger Nano X. The wallet is regarded by many as one of the most secure storage devices.

Attackers Can Tamper Wallet Devices to Steal Crypto Funds

On Wednesday, Kraken Security Labs – the exchange’s team that checks the security of crypto products – announced that it had detected two new potential attacks that could be executed against Ledger Nano X. If conducted successfully, Kraken claims that the attacks might put the wallet’s security at risk.

The attacks might permit malicious actors to get control over the victims’ computers connected to the wallets and install malware capable of stealing crypto funds.

Kraken Security Labs explained all the technical details of the two attacks, dubbed Bad Ledger and Blind Ledger.

In the first attack, the Ledger Nano X has to be tampered before reaching the victim. The firmware of the wallet’s process is modified with a debugging protocol that behaves like a keyboard. It can send malicious keystrokes to the victim’s computer. Kraken demonstrated a video that displays an infected Ledger Nano X that has control over the host computer by acting as a keyboard. It opens a browser and enters the exchange’s website by using keyboard shortcuts.

Kraken says that the device and the Ledger Live software application identify the wallet as genuine and don’t realize the tampering.

In the second potential attack referred to as Blind Ledger, the wallet’s tampered processor can turn off the display. Mixed with a thorough social engineering attack, the display is shutting off while malware on the computer convinces the victim to press several buttons that trigger malicious transactions.

Given that the display is disabled, the victim would not be able to check the transaction on the wallet.

Kraken recommends users to buy Ledger wallets from trusted stores only. Also, users have to be cautious if the display turns off.

Ledger Says the Stored Funds Cannot Be Accessed Despite Potential Vulnerability

CryptoPotato reached Ledger for comment. The company’s CTO, Charles Guillemet, explained:

“We are grateful to the Kraken team for bringing this vulnerability to our attention. While we have addressed this issue at length on Ledger, we want to assure our users that funds stored on their Ledger Nano X could never be accessed, since the Ledger Nano X’s security relies on the Secure Element – not on the MCU chip. The issue could allow an attacker who intercepted the device during the supply chain to install malware on the user’s PC, though the funds would still be safe.”

He added that it was extremely unlikely that this kind of attack might be performed successfully. So far, there has been no loss of funds caused by the vulnerability.

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Source: Crypto Potato

Is it Time To Short Bitcoin? Answers OKEx CEO As Global Stock Markets Continue Their Uptrend

Despite world economies still feeling the adverse effects of the COVID-19 pandemic, most stock markets have recovered from the March losses, and some are even charting new highs.

This has raised speculations that Bitcoin’s price may head south, and OKEx CEO Jay Hao recently offered his answer on the matter.

Jay Hao Examines The Stock Markets And Bitcoin

As CryptoPotato reported, the popular index Nasdaq reached a new all-time high yesterday and continued its upward movement today. Other prominent US indexes such as the S&P 500 and Dow Jones are also in the green and have almost fully recovered since the Black Thursday in March.

The situation outside of the US is quite similar. The Shanghai Shenzhen CSI 300 is at its highest level in nearly a year, and the Hong Kong Hang Seng Index is close to the pre-COVID-19 level.

Jay Hao, the CEO of the popular cryptocurrency exchange OKEx, published an article after supposedly receiving numerous questions – “stocks have skyrocketed, can we short Bitcoin?” His attempt to answer this complex issue pushed him towards several factors regarding BTC’s recent developments.

The first one is the trading volume, which has been declining for both derivatives and spot trading, as illustrated in the two graphs below from the cryptocurrency monitoring companies – Skew and CryptoCompare.

Bitcoin Spot Exchange Trading Volume. Source: CryptoCompare
Bitcoin Spot Exchange Trading Volume. Source: CryptoCompare
Bitcoin Futures Trading Volume. Source: Skew
Bitcoin Futures Trading Volume. Source: Skew

Hao argued that the overall decreasing volatility in Bitcoin’s performance is the reason why derivatives trading volume has plunged. “The value of Bitcoin derivatives is mainly reflected in hedging market risks. Whether it is Bitcoin futures or Bitcoin options, there is a strong trading demand during periods of high volatility,” and vice-versa, he added.

He concluded that this decreasing data “seems to suggest that we could short Bitcoin.”

But, Not So Fast

Bitcoin’s price is determined by significantly more factors than just its trading volumes on cryptocurrency exchanges. For instance, Hao brought up over-the-counter (OTC) trading, which could sometimes be “more trustworthy” as “trading volume on exchanges can be fraudulent.”

Data from reveals how the volume has altered lately on two of the largest peer-to-peer Bitcoin trading platforms, namely Paxful and Localbitcoins. While Localbitcoins has indeed experienced a slight decrease, Paxful stands on the opposite shore with a continuous increase and a recently registered all-time high.

Localbitcoins Trading Volume: Source: Coin.Dance
Localbitcoins BTC Trading Volume: Source: Coin.Dance
Paxful BTC Trading Volume. Source: Coin.Dance
Paxful BTC Trading Volume. Source: Coin.Dance

Bitcoin’s on-chain trading data provides optimistic outtakes as well. According to a recent report, three vital on-chain market metrics have been performing rather impressively lately. The daily new addresses reached a 2-year high of 560,000 – a number not seen since the parabolic price increase of 2017. As a result, the number of total addresses on the network is more than 670 million.

The daily transaction count is at its highest level in ten months after reaching 382,000 earlier this week. Bitcoin’s hash rate has also recovered from the post-halving decreases to near ATH levels, making the network more robust.

The Stablecoin Supply Ratio (SSR), measuring the ratio between the Bitcoin supply and the stablecoins supply (or BTC market cap/Stablecoin market cap), is another indicator that breaths confidence in the primary cryptocurrency’s performance. Hao outlined that when the SSR is low, it provides more “buying power” to purchase BTC. And, data from Glassnode confirms that the SSR is extremely low.

Bitcoin SSR. Source: Glassnode
Bitcoin SSR. Source: Glassnode

Hao Neglects The Correlation Between Stocks and Bitcoin

The primary cryptocurrency has demonstrated increased correlation levels with most indexes lately. However, Hao told CryptoPotato that despite the rising trend, the current levels are still not sufficient for major conclusions:

“The current correlation coefficient is about 0.23. But statistically, it is considered that the absolute value of the correlation coefficient should be generally above 0.8 to consider A and B to have a strong correlation; between 0.3 and 0.8 can be considered to have a weak correlation, but below 0.3 to consider that there is no correlation.

Therefore, although the current correlation between Bitcoin and stocks has become more pronounced, we still believe that there is no direct correlation between the two.”

Following the above information, Hao concluded that “the stock markets may indeed lead to the loss of funds in the crypto market and be behind the decline in trading activity.” However, BTC’s fundamentals are still strong, and its popularity has not decreased.

“The shift of attention caused by the rise of other investment products is only temporary, and, as an individual investor, I am still very optimistic about the return of Bitcoin as a healthy investment.”

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Source: Crypto Potato

Bitcoin Price Analysis: BTC Breaking Above 45-Days Resistance Line, Will Altcoins Calm Down?

As mentioned in the last analysis, we anticipated the down-trending level (blue line) would create some resistance for bullish traders, and after five failed attempts, they finally succeeded in breaking through it.

Right now (as of writing these lines), BTC prices have jumped $175 in the last hour, and for the first time since January 2020, a bullish convergence has appeared on the monthly MACD.

Bitcoin Price Levels to Watch in the Short-term

Depending on the strength of the current breakout, we could see BTC briefly correct before pushing on towards the general areas of $9,700, and possibly even $9,800. To find more specific targets, we can look to the Fibonacci extension levels on the 4-hour chart (see below). This shows potential resistance at the $9,498 – $9,500 (current daily high), $9,579, and $9,681 levels.

If bulls become exhausted, however, then it’s likely we’ll see the price either push sideways or throwback onto the previous resistance as a new support before rebounding (green line).

If things turn ugly, the $9,300 level will continue to be the first main support for Bitcoin in the short-term. From there, the psychological $9,000 would be the next most likely support area to watch for a rebound. Underneath that, we have the 100-EMA, which now sits at approximately $8,900.

The Technicals

On the daily RSI, we can see the indicator line is now extremely close to printing its first higher high since May 7.

Coupling that with the first monthly MACD convergence since January, it certainly seems that bitcoin’s longer-term trend is now bullish.

To further support this idea of a bullish reversal, we just need to see the increasing volume on the BTC/USD chart to strengthen the uptrend.

Total Market Cap: $280.1 billion
Bitcoin Market Cap: $173.5 billion
Bitcoin Dominance Index: 62%

BTC/USD Bitstamp Daily Chart

BTC/USD, source:

BTC/USD Bitstamp 4-Hour Chart

BTC/USD, source:

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These Are The 4 Reasons Bitcoin’s S2F Model Creator Bought BTC In 2015-2016

If you bought Bitcoin in 2015 or 2016 when BTC was trading for less than $500 and HODL till today, the value of the assets would be around 1,750% higher. However, not many investors were lucky to purchase the cryptocurrency five years ago, partly because of the skepticism of its potential at that time.

Today, Bitcoin is trading slightly above $9,200, after being dubbed the best performing assets of the last decade. More people, both retail and institutional investors, are buying the digital asset for many reasons.

PlanB’s Reasons For Buying Bitcoin

One of those who bought BTC when the price was just several hundred dollars is PlanB, an analyst famed for creating Bitcoin’s Stock-to-Flow (S2F) price model.

Reminiscing his early days with Bitcoin, PlanB (@100trillionUSD) shared on Twitter four reasons that propelled him to buy Bitcoin in 2015/2016 long before he even created the S2F cross-asset model for the cryptocurrency.

According to the analyst, the first reason was the limited supply of Bitcoin. Only 21 million BTC will ever exist, but there are almost 47 million millionaires worldwide. Logically, this means that there are not enough whole bitcoins for every millionaire out there, let alone average investors.

Bitcoin On Mars?

Next, he considered the possibility of the human race colonizing space or other planets like Mars. If that happens, PlanB noted that people “can’t use gold or $ in space or Mars, need something else.” A better alternative here would mean something digital like Bitcoin.

It is common knowledge that a central government or entity does not control Bitcoin. An earlier report by CryptoPotato covered an anonymous mail that might have been written by young Satoshi Nakamoto, which gave the true definition of electronic cash (ecash) like Bitcoin.

The author of the mysterious post argued that “it would be a misuse of the word ‘ecash,’ if something that was revocable were dubbed ecash.”

He continued: “It is not technically possible to implement electronic cash at all without tamper-resistant hardware because reliance on a mint or double-spend database means your ‘cash’ can become worthless overnight if someone (say a government) decides to switch off a computer (the one holding the double spending database).”

This feature of Bitcoin is the third reason why PlanB said he purchased the cryptocurrency five years ago. “Nobody can freeze account or block transactions,” he said.

Bitcoin was born in a recession dating back to the financial crisis of 2007 – 2008. The S2F model creator stated that the fourth reason for his decision to buy Bitcoin is that even though BTC has a “0% interest rate, it is better than the negative interest rate” offered by banks during economic meltdowns.

Bitcoin At $300,000

PlanB’s Stock-to-Flow (S2F) price model for Bitcoin is particularly bullish on the cryptocurrency’s potential value. The model measures the price of BTC using the number of circulating coins and the issuance rate.

In simpler words, as Bitcoin production supply reduces every four years, the crypto asset becomes more scarce due to its limited supply, and that would force the price to increase exponentially.

Theoretically, PlanB’s Stock-to-Flow Cross-Asset model places BTC value at around $288,000 per coin or a market cap of $5.5 trillion by 2024, the year for Bitcoin’s fourth halving.

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Ripple Price Analysis: XRP Pushes Above $0.20

  • XRP saw a serious 8.3% increase today as it returned to the $0.2 level.
  • The latest price rise allowed XRP to climb above the 100-day EMA as it attempts to start a recovery.
  • Against Bitcoin, XRP finally rebounded from 1900 SAT to climb toward 2160 SAT.

Key Support & Resistance Levels

Support: $0.196, $0.192, $0.175.
Resistance: $0.21, $0.215, $0.225.
Support: 2100 SAT, 2070 SAT, 2000 SAT.
Resistance: 2200 SAT, 2250 SAT, 2360 SAT.

XRP/USD: XRP Bulls Reclaim $0.2

XRP started July off by trading at the support at $0.175 (.5 Fib Retracement level). The bulls defended this level and prevented XRP from slipping beneath. This week, XRP pushed higher from $0.175 as it reached $0.19 yesterday.

In today’s trading session, XRP moved higher from $0.19 to break the 100-days EMA and climb above the $0.20 level.

XRP/USD. Source: TradingView

XRP-USD Short Term Price Prediction

Moving forward, if the bulls continue to push higher, initial resistance lies at $0.21 (200-days EMA). Above this, resistance can be expected at $0.215 and $0.225 (bearish .5 Fib Retracement).

On the other side, the first level of support is found at $0.196 (100-days EMA). This is followed by added support at $0.192 (.382 Fib Retracement) and $0.175 (.5 Fib Retracement).

The RSI is well above the 50 line to indicate that the bulls are in total control of the market momentum. However, the Stochastic RSI is in overbought conditions and is primed for a bearish crossover signal that could send the market lower.

XRP/BTC: XRP Rebounds From 1900 SAT Disaster

Against Bitcoin, XRP suffered greatly during May and June after the coin dropped from 2500 SAT to reach as low as 1900 SAT. Luckily, the bulls rebounded from the support at 1900 SAT at the start of July.

The buyers met some resistance at 2000 SAT yesterday, but the price hike seen today allowed XRP to break this level to reach 2160 SAT.

XRP/BTC. Source: TradingView

XRP-BTC Short Term Price Prediction

If the buyers continue, resistance is found at 2200 SAT, 2250 SAT (bearish .236 Fib Retracement), and 2360 SAT.

On the other side, support is found at 2100 SAT, 2071 SAT, and 2000 SAT.

Likewise, the Stochastic RSI is in overbought conditions and is primed for a bearish crossover signal that could result in a retracement for XRP.

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Source: Crypto Potato

Chainlink (LINK) Marks New ATH Following China’s Blockchain Service Network Launch

Chainlink continues with its impressive price performance after reaching a new all-time high today. Interestingly, the latest surge coincided with the launch of China’s Blockchain Service Network, which integrated Chainlink’s price oracles into its ecosystem.

China’s BSN Launches

As CryptoPotato reported in March this year, the world’s most populated country planned to introduce a DLT-based platform called the Blockchain Service Network (BSN). It allows the development of applications, smart cities, and even digital economies on top of it without participants having to design a new network from scratch.

BSN’s white paper estimates that building, operating, and maintaining a blockchain network could cost more than $14,000 per year. However, if companies employ BSN’s platform, the amount could decrease substantially to $300.

The COVID-19 pandemic delayed the launch. Instead of the planned release date in April, BSN was unveiled to the public this past weekend at the opening ceremony of Hangzhou Blockchain International Week.

The statement informed that BSN has already established public city nodes in more than 100 cities across China, making it “the world’s largest blockchain infrastructure network.”

BSN Launch. Source: Weixin
BSN Launch. Source: Weixin

BSN Integrates Chainlink

Before the official launch date, China’s ambitious project announced that it will integrate Chainlink oracle. Consequently, governments and enterprises would be able to incorporate validated real-world data into their BSN applications using Chainlink oracles via the IRITA interchain service hub.

“The integration of Chainlink provides BSN users additional security, reliability, and interconnectivity to help fuel even greater growth and adoption of blockchain applications in China and around the world.” – reads the statement.

BSN chose Chainlink because its technology enables on-chain blockchain applications to incorporate off-chain real-world data securely and reliably, the announcement explained.

LINK Reacts

Chainlink’s native cryptocurrency has been among the top performers in the cryptocurrency market lately. Since the launch of China’s BSN during the weekend, though, the asset has skyrocketed.

LINK was trading at $4,60 a few days ago before it began its decisive surge towards registering several consecutive all-time high prices. It spiked above $5,60 yesterday, and today it broke the $6 barrier before increasing to $6,40. Although LINK has retraced slightly and is currently hovering at $6,27, it still represents a price jump of 37% in three days.

LINKUSD 1h. Source: TradingView
LINKUSD 1h. Source: TradingView

On a yearly scale, LINK’s price developments are even more impressive. It entered the new century at about $1,76 and has marked a year-to-date increase of over 250%.

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DeFi Tokens Lead Altcoin Season 2020 as Total Value Locked Crossed $2 Billion

Decentralized finance tokens have outperformed their crypto brethren over the past month, with some hitting two-year highs. As the nascent industry keeps growing, which ones will be next?

DeFi has been the darling of the crypto industry over the past month, doubling in total value locked (TVL) in just a few weeks. A new all-time high of $2.12 billion has just been reached, according to This represents the dollar equivalent value of all the crypto collateral locked in smart contracts across the decentralized lending and borrowing ecosystem.

DeFi Total Value Locked. Source: Defi Pulse

This massive surge has outpaced traditional crypto markets, which have remained range-bound in terms of total market capitalization over the past month.

Liquidity Farming Frenzy

The momentum has been driven by a liquidity farming frenzy whereby investors and speculators lock their crypto holdings on DeFi platforms in exchange for impressive rates of interest and token distribution rewards.

Compound Finance was the first to initiate the FOMO with its COMP token that was deployed on June 15. Since then, the asset surged to an all-time high of $327 before returning to around $180 where it currently trades according to

Liquidity platform Balancer followed suit, and its BAL token also skyrocketed from a $0.16 seed price to top out over $17. The DeFi token has pulled back to around $10.50 at the time of writing.

DEX protocol 0x has made similar progress with its ZRX token surging to its highest level for over 18 months today. 0x has launched its user-friendly DEX called Matcha, and ZRX is on fire today, topping out at $0.456 after a 15% pump over the past 24 hours.

DeFi platform Aave has been another solid performer with its LEND token surging 54% over the past seven days. Momentum has been driven by new reputation-based lending and borrowing system.

Kyber Network recently launched its long-awaited Katalyst and KyberDAO upgrade with provides staking opportunities for KNC holders. As a result, the token has surged to a two year high of around $2 over the past week or so.

Three Arrows Capital CEO Su Zhu has been watching it all unfold.

Which Token Next?

The race to launch liquidity farming incentives is on, so the next tokens to look out for are ones with platforms currently developing token distribution plans for decentralized governance.

The Synthetix Network Token (SNX) is one to watch as it, too, has enjoyed solid price gains recently and is still climbing. SNX is currently trading at an all-time high of $2.75, following a 13% pump today.

Ren is another DeFi token to monitor as it is following a similar pattern, climbing 35% over the past week. Ren is a token for a platform that provides a mechanism of wrapping Bitcoin for ERC-20 exchange on DeFi markets.

DeFi platform bZx is working on new tokenomics, so that is another one to keep an eye on in the fast-paced world of decentralized finance. Uniswap could also be entering the fray soon, though today’s crypto winner is actually Dogecoin!


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Source: Crypto Potato

Cardano Price Analysis: ADA Breaks Above 2019’s High

  • ADA is now trading above 2019’s high following a 58% growth in 7 days.
  • The price is now approaching the 1500 SAT level with strong bullish momentum.

ADA/USD: Cardano Surges 28% After Crossing $0.1

Key Resistance Levels: $0.16, $0.2

Key Support Levels: $0.11, $0.094

ADA/USD. Source: TradingView

The second half of the year is again looking promising for Cardano as it starts a new increase above the $0.094 level. In fact, the price is now trading above 2019’s high following a 58% growth in 7 days.

Looking at this increase from mid-June’s correction level – $0.0623, where the recovery started from, Cardano has gained over 100% in the last 21 days.

There’s no doubt that the 7th best-performing cryptocurrency by market cap has again turned bullish for a mid-term rally, but it may provide a small discount to somewhere around $0.11 level if a retracement occurs. Still, the price is up by 24% against the US Dollar.

Cardano Price Analysis

Following the ongoing second wave in the market, Cardano’s price could target the July 2018 resistance of $0.2. Along the way, it may encounter resistance at $0.16.

There’s no much room for the bears at the moment. If the price drops below the mentioned key retracement level, the next major rebound level to watch is the $0.094 level that got breached on July 1st. But as of now, the bulls are in control.

ADA/BTC: Cardano Eyeing 2019 High

Key Resistance Levels: 1500 SAT, 1700SAT, 1944 SAT

Key Support Levels: 1243 SAT, 1045 SAT, 900 SAT

ADA/BTC. Source: TradingView

And while Bitcoin remains calm around $9300 since yesterday, the price of Cardano has increased by almost 25% over the past 24-hours trading. The price is now approaching the 1500 SAT level with strong bullish momentum.

As spotted on the daily chart, the latest surge was characterized by a full-body candle to indicate that buyers are stepping stronger into the market with a huge volume. One thing to keep in mind here is that such a move is commonly followed by a sharp decline.

However, the future still looks very bright and promising for Cardano as long as the buyers continue to sustain pressure. Otherwise, the price may drop a bit to find reliable support to refuel bullish actions. It is currently eyeing the 1500 SAT level against Bitcoin.

ADA Price Analysis

If Cardano can close well above 1500 SAT today, the next buying pressure is most likely to target 1700 SAT before rising further to the 2019 high of 1944 SAT.

In case of a drop, the current daily low of 1243 SAT can be considered as a level for a pullback. The second level to keep in mind is the weekly support at 1045 SAT – where the grey and orange trend lines confluence. The monthly opening price at 900 SAT remains the key holding support for the weekly top-gainer.

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Indian IT Giant TCS to Help Financial Institutions Offer Cryptocurrency Trading

A few hours back, Indian IT heavyweight, Tata Consultancy Services, announced the launch of Quartz™ Smart Solution for Crypto Services. The offering will help banks and other financial institutions provide ‘secure and seamless’ crypto trading facilities to their clientele.

IT Giant TCS is Spearheading Crypto Adoption

As per the official press release, Tata Consultancy Services’ new crypto services solution will allow banks and financial firms to enable investments and portfolio diversification into crypto assets for their clients.

“The solution is designed to support multiple cryptocurrencies and stable coins, digital currencies linked to fiat currencies, trading venues and public blockchain networks, thus offering choice and flexibility to customers when deciding their trading and investment strategies. Importantly, it can help banks and investment firms offer their customers the ability to transfer payments in the form of ‘digital cash’, and benefit from lower transaction costs and quicker access to liquidity.” – Read a statement

It seems TCS is leaving no stone unturned in making crypto investment opportunities available to a wider section of potential investors. The company has addressed every technical detail to make the experience count. And how?

TCS’ Smart Crypto Solutions is Actually Smart

TCS’s novel crypto offering has an in-built has a hardware security module that enables cryptographic signing of each transaction, thereby ensuring security and authenticity.

The IT corporation has ensured that the system is integrated with multi-signature wallets and an authorization engine to enable configurable transaction approval policies, blockchain forensic checks, auto reconciliation and compliance alerts, exchange and OTC desk connectivity, and audit capabilities.

Speaking of the announcement, R Vivekanand, Global Head, Quartz, TCS said:

Cryptocurrencies, digital fiat currencies and digital assets are poised to become viable alternate avenues for investments, hedging and portfolio diversification. Progressive financial institutions are looking to provide these options to their clientele. We are excited to offer them our robust, secure and scalable solution for trading, storing and transfer of these assets. We believe Quartz is well ahead of the curve in providing such a solution that allows customers to transact in multiple cryptocurrencies and digital assets, backed by best-in-class security features.

TCS is Seriously Exploring Distributed Ledger Technology

TCS was one of the earliest corporations to realize the groundbreaking impacts of blockchain technology. That’s why the global IT services giant incubated the startup Quartz to provide foundational technology, tools, and business components for creating distributed ledger solutions across varied industries.

According to the official website, Quartz’ ingenious product suite, ‘The Smart Ledgers’ is targeted at helping organizations across multiple domains leverage blockchain meaningfully for their businesses.

The Smart Ledgers offers these solutions:

  • Quartz Smart Solutions – A set of ‘Designed for Blockchain’ business solutions across industries.
  • Quartz DevKit – Smart contract development kits that enable the development of high-quality code for different blockchain technologies. The Quartz DevKit also comprises of a standard set of architectural features covering security, data privacy, access controls, user management, audit trails, and logging framework represented as Quartz Foundation.
  • Quartz Gateway – Solutions that easily integrate existing applications with blockchain ecosystems/networks.
  • Quartz Command Center – Solutions that facilitate administering and monitoring of the entire ecosystem.

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The Altcoins That Skyrocket Despite Bitcoin: Wednesday Price Watch

Numerous alternative coins are booming during the past 24 hours, while Bitcoin remains stable. Consequently, this has raised the question of whether or not the cryptocurrency market is entering another altcoin season.

Altcoins Pumping

The majority of the market is well in the green today, with some impressive gains from altcoins. Yet, none has increased its value from the top 100 coins by market cap more than Dogecoin (DOGE).

Its surge of over 50% means that DOGE is now trading at $0.0043 and 46 SAT against Bitcoin. Dogecoin also rises to the 27th place in terms of total market capitalization at nearly $540m.

Cardano (ADA) has enjoyed quite the decisive run lately. Apart from the recent announcement of future token staking capability on Coinbase Custody, ADA’s price may be pumping due to optimism ahead of the much-anticipated release of the “Shelly” upgrade, according to a recent report.

Merely a week ago, ADA was trading at $0,073 and is now hovering around $0,13. Meaning that in this period, the asset price has increased by 80%.

ADAUSD 1h. Source: TradingView
ADAUSD 1h. Source: TradingView

VeChain has also been on the rise lately. The company recently celebrated the second anniversary of its mainnet and announced that it will attend the World Artificial Intelligence Conference from July 9th to July 11th. Today’s price surge of 16% means that VET trades at $0.0176 and has doubled its value since the end of June.

VETUSD 1h. Source: TradingView
VETUSD 1h. Source: TradingView

Other worth-mentioning pumping altcoins include ICON (13%), Elrond (12,86%), and Siacoin (12,60%). Ripple (XRP) is up 7% and Chainlink (LINK) – by approximately 14%, and it continues to break into unfamiliar grounds after registering another all-time high at $6 earlier today.

Bitcoin Watches Steadily

And while the altcoin market increases its value, Bitcoin’s price remains stagnant at about $9,250. The primary cryptocurrency has been trading in a range from $8,850 to $9,300 since late-June and doesn’t indicate to break out as it couldn’t close above it yesterday.

This particular $9,300 level remains the most significant obstacle in BTC’s way upwards. If broken, Bitcoin will have to go through the resistance levels at $9,500 and $9,800. Contrary, the psychological $9,000 point serves as a vital support line.

BTCUSD 1h. Source: TradingView
BTCUSD 1h. Source: TradingView

Interestingly, most stock market indexes registered slight declines yesterday following reports that some top advisers in the Trump administration were weighing proposals to undermine Hong Kong’s dollar peg to the greenback.

The futures contracts of the S&P 500, Nasdaq, and Dow Jones have also decreased slightly. It would be intriguing to follow if Bitcoin would perform similarly due to the increased correlation between the two asset groups lately.

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