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Ethereum, Litecoin, Tron Technical Analysis on 31st August 2020

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The cryptocurrency market is, currently, in a pivotal position. After closely following Bitcoin‘s price movement, several altcoins posted significant gains breaching crucial resistance points over the week. However, bearish reversal edges closer for a few coins.

Ethereum [ETH]

ETH 6 e1598864392234

Ethereum [ETH] has managed to resume an uptrend after surging past a crucial overhear resistance of $400. In addition, the largest rose by 3.87% over the past 24-hours to a price of $421.01 while registering a market cap of $47.32 billion and a 24-hour trading volume of $12.015 billion.

Following the latest upward price movement, both MACD and Klinger Oscillator appeared to be gearing up for a bullish crossover. The coin found significant support at the $385.9-level. A sense of optimism among the options traders rose as ETH rallied past the crucial resistance point. This was evidenced by the rising open interest with respect to Ether options.

If the upside momentum continues, ETH is likely to approach its immediate resistance at $439.

Litecoin [LTC]

LTC 7 e1598865794414

Despite retreating close to its support level of $54.12, Litecoin [LTC] made a strong recovery which propelled a positive change of 5.26% over the past 24-hours driving its price to $61.34. At the time of writing, its market cap stood at $4.008 billion with a 24-hour trading volume of $2.882 billion.

The small green closing bar signaled towards a potential bullish momentum in the coming days. Chaikin Money Flow also depicted an inflow of capital in the coin market. If this trend persists, the coin could target an important overhead resistance of $67.27. However, if the bullish momentum fades, its psychological support of $50.00 will come into view.

Tron [TRX]

TRX 5 e1598866526153

Tron [TRX] has risen over 98% since the beginning of the year. After a minor decline of 1.58% over the last 24-hours, TRX dropped to $0.026 while recording a market cap of $1.867 billion and a 24-hour trading volume of $854.9 million.

The coin recently recorded a two-year high after it climbed to $0.0304 which now acted as a crucial resistance point for the coin. However, the upside momentum appeared to have dwindled. This was evidenced by the dotted markers hovering above the TRX price candles resisting an upward break. Furthermore, the RSI noted a bearish divergence. This indicated that despite a positive price trend, a reversal to the downside is likely.

The sell-off may extend towards the support of $0.0230. If this breaks, TRX’s next focus should be on $0.0154-level.

Tron-Europe Wants to Blow the Crypto Roof as TERCium-Force Introduces Noble, Magister, Lord and VIP levels

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The Tron ecosystem has been one of the few sectors of the cryptocurrency industry that has always been active in new developments. Out of several players in the area, Tron-Europe has been one of the standout performers with several new launches to its credit.

The launch of TERCium-Force by Tron-Europe had shaken up the Tron community not just because of the sheer number of use cases but also its real-world applications. The organization has repeatedly stated that TERCium-Force is the backbone of the TERC community with users benefitting from the ecosystem.

Tron-Europe officials have told TWJ that the main intention of the launch of TERCium-Force is to build a completely decentralized cryptocurrency ecosystem. To ensure the organization gives back to its users, TE has also kick-started its special VIP channel that will allow select customers to browse through new features. These VIP customers will also have access to Special Holder Bonuses with users reportedly enjoying a significant increase in their holder rewards. 

Tron-Europe was delighted to inform users that they were also launching their native TERCium World, where the holders could benefit from a plethora of new trading options. If the user holds 50,000 TERC, the user will be given the rank of TERC-Knight. This status enables users to earn 10% extra Force bonus, creating a win-win situation for both parties. The ranking list stretched onto four more levels: TERC-Noble, Magister of TERCium, Lord of TERCium and VIP Force.

The TERC-Noble rank is given to any user who holds 125,000 or more TERC tokens. This rank also gives users the privilege of earning 20 percent bonuses. Users who have 250,000 TERC tokens hold the Magister title of TERCium and can draw bonuses of up to 30%. The highest level in rankings is the status of ‘Lord of TERCium.’ These privileged users can earn up to 40 percent of Force Bonuses. Becoming a Lord is the last step in becoming a VIP Force member where users hold over 1 million TERC tokens and can earn bonuses upto 100 percent. 

TERCium-Force users need not worry about the hassle associated with withdrawing funds as the bonus deposits are made automatically. Users can also register themselves on the World of TERCium Telegram channel where their credentials will be provided by the administrator. The ease with which users can access their funds is of fundamental importance to the TERCium-Force community. Officials close to its developments wholeheartedly feel that the aforementioned bonus programs will be the stepping stones for people to get fully involved in the world of TERCium. 

CityUptake Kicks Developments Up a Notch as Company Partners with EMS for Creating ‘Real-world’ Solutions

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Partnerships in the cryptocurrency community have enabled entirely new customer bases to reap the benefits of an advancing financial world. Collaborative approaches are so popular because of their mutually beneficial properties and the prospect of creating exciting new products.

 In a bid to take the cryptocurrency industry to the next level, the EMS Global Wellness Corporation recently announced its partnership with popular cryptocurrency platform CityUptake. The partnership is considered as a “huge and necessary step” where CityUptake will be in charge of leading blockchain technology into real-world use cases and help in creating transparency across the board. 

CityUptake and EMS have signed a lifetime service agreement to focus on formulating the best way to distribute commission rewards to users. According to EMS, members who hold more than a million tokens will have to follow CityUptake’s Know Your Customer process before they can receive rewards for community support. 

Within the partnership, CityUptake will take care of aspects such as holder engagement, KYC management, tax services, providing a dashboard, and setting up a functional ticketing service. Holder engagement is important because this is the stage where the partner’s wallet address as well as e-mails are registered. After this step comes to the all-important KYC registration that will be handled by CityUptake. 

One of the major hurdles in the cryptocurrency sphere is the lack of information on how to tax virtual assets. CityUptake again takes this in stride by providing EMS with W8 and W9 documents to holders while partner projects will be given filled-in documents. The aforementioned information only becomes beneficial if they are given in a seamless and useful format. CityUptake does just that by setting up a monthly dashboard with key indicators for partner projects. Apart from this, EMS will also have hands-on help from CityUptake if the need ever arises. 

The partnership is seen as the next step in blockchain adoption with CityUptake agent Maurice stating:

“This is a big step in bringing Crypto projects like EMS and previously CITYUPTAKE to be compliant with US regulations and with that we are ahead of the pack with regards to adoption outside to the world outside of crypto”

CityUptake plays an important role in the partnership because EMS token holders deal with the assets on a routine basis. Individuals who hold 1million EMS  will receive a portion of 7 percent of the net profit of the business, split accordingly amongst all 1-million-level holders. At the same time, a portion of the fees that farmers pay to utilize the technology is also given to the holders. These incentives are to be systematically dealt with and distributed on the blockchain and this is where CItyUptake steps in with its magic.

Cardano, Tron, Binance Coin Technical Analysis on 20th August 2020

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Prior to the market correction, the cryptocurrency market was in a state of consolidation. The latest decline in the valuation of the coins drove the collective market cap to $365 billion. This could, however, attract buyers as the long-term picture suggested a bullish outcome.

Cardano [ADA]

ADA 2 e1597899625598

Cardano [ADA] has so far failed to consolidate below its yearly high. At the time of writing, the ninth-largest cryptocurrency by market cap stood at a price of $0.129 after depreciating by 2.82% over the last 24-hours.

The dotted markers of the Parabolic SAR were above the ADA candles depicting a bearish trend. The RSI also depicted a rising sentiment of sell pressure among the traders of the coin market.

The next leg for an upward price trend, which does not seem likely in the near-term, stood firm above $0.15. In case of a further downturn, the coin could find significant support at $0.11-level.

Tron [TRX]

TRX 4 e1597902381610

Tron Foundation’s partnership with WAVES as well as the launch of its new DeFi instrument, JustSwap has been no less than critical milestones for the year. Its price, on the other hand, turned down to $0.026 after a minor decline of 0.92% over the last 24-hours.

The green closing bars of the Awesome Oscillator showed a shift in momentum to bullish in the near-term. The Chaikin Money Flow was also in the bullish territory depicting money flowing into the coin market and an overall positive picture for TRX.

The coin faced severe rejection at $0.0307. If Tron bulls attempt to rise above the said level, it could climb closer to the levels not seen since July 2019 while it was firmly supported at $0.20-level.

Binance Coin [BNB]

BNB e1597902859620

After a drop of 1.35% over the past day, the tenth-largest cryptocurrency, Binance Coin [BNB] slipped to $22.31.

Both Klinger Oscillator and the MACD indicator underwent a bearish crossover following the latest pullback  If this trend persists, the coin could sink deeper. Notably, BNB has been turned down from the resistance level of $26.5. If the token’s value further drops, BNB could test support at $18.3.

On the brighter side, this could potentially help buyers to stack BNB and eventually drive the coin’s price up.

Tron’s New DeFi Instrument JustSwap Breaks 6M in Total Volume in Less Than 24 Hours

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Justin Sun formally launched JustSwap on August 18th at a live stream event introduced JustSwap to JUST (JST) and Tron ecosystem users. JustSwap, the first exchange token protocol on Tron (TRX), is expected to open the Tron blockchain users to the DeFi world, a space that has seen a splendid rise over the past year. Released in testnet beta, the new protocol will be powered by Tron-based oracle AlphaLink.

A quick primer: JustSwap essentially enables its users to make exchanges instantaneously between any TRC-20 token, thus, making system pricing as well as several other operations seamless.

Meanwhile, it will act as a decentralized cryptocurrency exchange protocol for the purpose of attracting users through low latency, fast transactions, and periodic liquidity rewards. In addition, the new instrument will be part of the JUST lending/borrowing system built around USDJ stablecoin.

In another update, JustSwap’s official Twitter handle revealed that the total volume broke 6 million in less than 24-hours after the launch. In an open letter, Tron Foundation CEO, Justin Sun stated,

“TRON and Just team are going All-In on the DeFi ecosystem. We will not back down until we see the decentralized financial revolution end in triumph.” He further added

“I have faith that as long as we race against time and keep upgrading our products, JustSwap will one day become the powerhouse of 100x cryptos and TRON will build a DeFi protocol that parallels Ethereum’s.”

DeFi has swept across the cryptocurrency industry, and Tron’s exploration of space is crucial, given that it is one of the largest blockchain networks in the industry.

JustSwap will give users the opportunity to earn transaction fees by becoming a liquidity provider and ensure that they receive trading costs and mining rewards. This, in turn, will encourage more holders of TRX and TRC20 to use JustSwap instead of regular crypto-exchanges charged for trading fees.

It is no secret that Ethereum has been facing inflation issues with its rising Gas fees as a result of severe conjestion in the blockchain. This could prove an opportune time for Tron’s JustSwap to enable its users to participate in the open financial market place as the DeFi craze continued to brew in the backdrop.

JustSwap is said to have flooded with the fake tokens of the popular projects following the launch. The fake token filtering feature has yet to be integrated into the platform. Justin Sun has assured in the open letter that this feature will be added soon, he said in the open letter

“JustSwap team will crack down on fake tokens by reviewing each and every token in the dropdown list, making sure those which get on to the list are fully legit., In parallel, a report channel for fake tokens will be opened ([email protected]) and any identified fake token will be immediately delisted”

Tron Europe Stands Out From Pack as TERCIUM Token Swap Delights Customer Base

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The TERCIUM Universe has been quite active over the past few weeks, with many things written about possible token swaps and their effect on the Tron-Europe ecosystem. Keeping up with this pattern, the reports showed that the team executed all the steps in the background in a discreet manner. On Friday, the 7th of August, Polonidex swapped the TERCIUM-token much to the delight of the entire community.

Sources told TWJ that the method to achieve this was surprising but it had the intended effect of taking a significant step towards a decentralized future. To recall the facts and to make the development progress more clear, here is some small overview of the completed changes:

  • Swap gives TERC decimals
  • Total supply reduced from 10b to 4b → that is a burn of 60%
  • Correct display of circulating supply
  • Voter/holder rewards count beginning with 1000

Besides the aforementioned advantages, the community should be aware of the following points:

  •  The swap for the old tokens begins on Friday 14th, August
  •  Routine tests will be conducted till the 14th to make sure all things work according to plan
  • The token swap will be executed with a wallet (address to be announced), where users can exchange their old tokens for the new ones at a 1:1 ratio
  • Users are assured that they will be able to swap their tokens at the 1:1 ratio during the first half of the year at no loss of worth
  • The old token will exist further so it can be swapped even later but with restrictions.

According to Tron-Europe, the developments have been systematic and consistent with the charted roadmap. TE further stated that due to the swap there have been some uncertainties in the community. To counter the spread of such rumours, the organization has assured the community that:

– nobody can take a user’s coins away without access to your wallet

– most of the displaying statistics of the token are connected to Polonidex, which boosts it‘s delisting exponential

Tron-Europe’s latest statements show the actual benefits of the project and  what users will enjoy post the swap. Apart from the listed features, the TERCIUM era is also set to bring in more features and updates to the table. Some of them include:

  • Buying TERC with credit card
  • New exchanges 
  • Plans to implement TERC into Coinpayment’s net with access to 200000 merchants
  • The BeFaster launch
  • Users being able to enjoy access to the Revolt Beta version

All the points mentioned above provide a nice view of, where the path can lead to. The TERCIUM – Force is also set to grow into a stronghold that seeks its own kind. As the cryptocurrency market, ebbs and flows with time, companies like Tron-Europe have steadfastly stuck to their winning formula. With the advent of TERCIUM right around the corner, the trading community as well as the developer community are waiting with bated breath to see the bright future ahead.

 

CityUptake and Community Take on Telegram Scammer as Ecosystem Shows its Mettle

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Scams, Ponzi schemes, and exits are a persistent crypto problem that often leaves victims angry but without recourse. Occasionally, a group effort on the part of the cooperating parties will strike back at the scammer and get back what was lost.

The origin of the scam

Telegram is a haven of activity for tokens on the TRON network and deals are often made between trusted parties. While tools have been built to conduct trustless trades, some still prefer to simply send and receive their own wallets. Unfortunately, this may result in scammers assuming usernames that resemble trusted users. One such incident occurred a few weeks back when a scammer impersonated a CityUptake official and had almost 40,000 CITY Alphatokens (~$1,100 USD). Subsequently, the assets were later recovered through a well laid-out plan by company officials and cooperation from a valuable community.

According to CityUptake, it took more than 24 hours and the efforts of four separate people to recover the stolen funds. The issue began when Michael, the CityUptake user, was approached by a scammer who impersonated Rob’s name, an actual CityUptake agent. Michael, being unaware of the deception and the change in the username, forwarded his requirements to the ‘agent.’ Michael was actually wanting to sell some of his CITY Alpha tokens in return for the corresponding amount of TRX tokens.

Retrieving the Funds

The CityUptake Alpha tokens are valuable in the CU community because of its relevance to the changing price climate. The Alpha tokens allow the holder to receive passive gains from a USD-based trade desk which provides a stable platform for dealing with crypto assets.  It was only after the transfer that Michael realized that he was taken for a ride by the scammer. 

Once Michael reported the scam to the CityUptake fold, the company jumped right on board to help recover the funds. Since the scammer’s wallet address was known, it was only logical to track it for any suspicious transfers pertaining to the stolen amount. The wallet was doubly verified when the wallet holder posted a sell order for 40,000 CITY Alpha(the exact amount that was stolen). Following this, the team proceeded with executing a plan to recover the funds. 

The first step was to contact IAmGroot, the administrator for the TRON Collectors trade channel. Once he was filled in with what had occurred, IAmGroot and Micaletol worked together to set up a simulated trade to reel in the scammer. During the trade it was spotted that the scammer’s wallet had moved 10,000 CITY Alpha tokens plus an additional 30,000 CITY Alpha tokens to the address TDQTg5Qx37djroUTBN1reZ5b2vF4Ywe7ae. IAmGroot and Michael scoured through the blockchain to find more pseudonyms used by the scammer and discovered that the wallet in question had conducted similar transactions earlier. 

Once the trade simulation was completed, IAmGroot and Micaleto were successfully able to retrieve the funds and call the scammer out on a public forum. Michael even stated:

“Today is a great day and also a big surprise !!! Last week I was scammed over 40k city and today MicaLETO, Groot4Rocket hangel72 and rudytwo bring it back in a fantastic cooperation and unbelievable collaboration. Big THANKS to this honorable and honest guys, who make that success against scam possible!!!!I’m proud and happy to be a member of CityUptake and TRONCollector under such super together working people!! who fight against this fki.. scammers with great success.”

Such a collective effort is something that sets the CityUptake community apart from the rest of its compatriots. This cohesion and spirit of working together are just one of several factors that make CityUptake and its ecosystem a tight–knit community.

Cityuptake Sets Eyes on Transparent Reward Structure for CU as Benefits of Tron Ecosystem Get Exemplified

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The cryptocurrency market has always provided a competitive playing field to get the best out of organizations and their developments. This sentiment has also seeped into the world of tokenization as well, where individual tokens regard their pricing as the most important factor.

Cityuptake has been one of the few companies providing a consistent token foundation for its users as users of the CU token have always held it in high regard. Established in 2018, Cityuptake has come a long way in setting up a token ecosystem that can be seamlessly utilized for trading and procuring goods.

Staying on the Tron ecosystem, Cityuptake has managed to garner a massive following with users thronging its folds to be part of a legitimate trading ecosystem. One of the biggest highlights of Cityuptake and the CU token is its popular reward system. Coupled with the balance of risk and reward, users are given a myriad of options to invest their hard-earned capital. 

To put things into perspective, each CU token is equivalent to 1.35 TRX where 1 TRX gets an allocation to the Tron Super Representative portfolio. Cityuptake keeps a keen eye on building the community as a whole, hence, 0.25 TRX gets allocated to the CU trade desk while 0.1 is set aside as project fees. While this distribution is seen as a step in the right direction by the company, some users claim that it might have an adverse effect on the pricing of the token. 

One of the biggest challenges that the Cityuptake faces is the sentiment surrounding the reward model. A lot of users miss out on the fact that the CU token holds a constant value at 1.35 TRX at a time when other linked tokens fluctuate depending on the cryptocurrency market. A recent analysis of the trading market showed that the CU token was outperforming its peers left, right and centre. 

A weekly analysis of CU and its compatriots shows a clear distinction in performance. CU’s trading volume has seen such a resounding spike that it has overtaken its closest compatriots such as ZLF and NOLE. On July 25, CU held a trading volume of a whopping 147,000 which indicated a renewed trust in the token’s capabilities. Users will be able to redeem their CU for TRX as and when they please. To complete the holding CU will be available on the Nolex exchange for ease of procurement. 

Sources from within Cityuptake told TWJ that the CU token has maintained a stable peer to peer resell value of between 1-1.35 TRX since its inception. To ensure that customers are provided with the best experience, Cityuptake strives to establish an upper and lower limit so that the 1.35 TRX conversion rate is achieved.

The 1:1 link between CU and TRX tokens is the core reason for the token price staying stable in the midst of several changes. Cityuptake entrusts its agents to enable users when they enter the field, a relationship that has enormously helped the company. Holders can obtain CU tokens at 1.35 TRX from these agents which keeps the token price at a standard rate. 

The lack of risk associated with trading CU tokens makes it a wonderful opportunity for new investors to enter the cryptocurrency industry. By integrating a reward process that is both transparent and beneficial, Cityuptake is on its way to becoming the gateway for many users in the Tron ecosystem. 

 

CityUpTake Sets Course for a More Inclusive Tron Ecosystem While Rewarding it Users for Sharing the Dream

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The cryptocurrency industry provides a lot of opportunities for those who are seeking for it. Since the launch of Bitcoin and the gradual increase in popularity of the virtual asset market, several organizations have emerged as stalwarts of space.

One such entity has been Cityuptake, a popular platform to increase user rewards on the blockchain. In order to rope more users and create an inclusive ecosystem, the company also offers CITYUPTAKE tokens that will result in more residual rewards. Being part of the Tron Super Representative program has also been a massive boost to Cityuptake and its users.

The Cityuptake token functions as a basic utility token that opens doors to goods, services, and the content of its parent company. This token also provides access to the Cityuptake trade desk and weekly rewards program, features that are celebrated by the community. An analysis of the CityUptake SR Portfolio vote allocation was evidence that it had a healthy vote allocation from other Tron Super Representatives. These Super Representatives were mainly TronSociety, TronWallet, SesameSeed, CryptoGuyin ZA, CrtyptoChain, and Tronspark. 

It is well known that cryptocurrency regulations have been one of the major deterrents in the industry. Major institutions have frankly admitted that, because of the regulatory confusion behind the scenes, they can not jump into the crypto bandwagon.

To put these fears to rest, Cityuptake strives to ensure that the company and the token meet all forms of regulatory testing. CITYUPTAKE tokens can only be used and accessed by those customers who have completed the KYC process set by the company. Cityuptake also reserves the right to withhold assets from customers if found to be in breach of the rules proposed in the U.S. tax treaties and the Member countries.

 At the moment, the Cityuptake trade desk is worth over 13 million TRX. Apart from Justin Sun founded cryptocurrency, Cityuptake’s trade desk also deals with Bitcoin, XRP, and Cardano. 

The perks of holding CU

Traders are usually on the fence with some tokens because of a lack of value guarantee. With CU, that layer of concern has been removed. Each CU token is equivalent to 1.35 TRX where 1 TRX gets allocation to the SR portfolio. At the same time, 0.25 TRX gets allocation to the CU trade desk while 0.1 TRX is distributed as project fees. Cityuptake has made it clear that the performance of the token would always be tied with the native trade desk. This dispels any notion of fraudulent activities or scams that have been circulating in the industry as all CU is redeemable for 1 TRX at any time.

How to get started:

Just like in other processes, holders need to have completed their KYC forms before they can get involved in the CU trading ecosystem. Cityuptake makes use of an agent model across its platform, where the agents themselves have undergone all KYC checks. According to the organization’s official release:

“To purchase CU, one simply sends TRX to an automated exchange of the agent of their choice, and CITYUPTAKE tokens are returned.” 

Cityuptake caters to both US citizens as well as non-US citizens with each category having to fill out theW-9 and W-8BEN respectively. Upon the completion of the aforementioned steps, users can hold CU tokens in any Tron wallet which then leads to weekly reward drops. 

Cityuptake’s inclusivity policy:

The company has reassured users that each and every one of them will be treated equally on the blockchain reward system, regardless of when they join. This ensures that the prices of the CU remain constant at 1.35 TRX, with 0.25 always going in for trade desk fees.

Cityuptake ‘s progress in blockchain and cryptocurrency has been buoyed by the participation of its loyal customers. As time progresses, the company has promised its members that it will add additional tokens to their dashboard. This will then help other Tron based companies to grow and flourish, creating an intricate and flourish Tron network. Speaking to TWJ, a Cityuptake official stated:

“We are excited to build out our token tracking system to give our account holders the opportunity to easily see not only the rewards from holding Cityuptake but also the rewards from various SRs for whom they have voted like Tronwallet or TronSpark.”

 

Splinterlands Makes the Move from Steem to Hive; Shift Comes Right after Tron Acquisition

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The cryptocurrency market is not without its share of disputes over major blockchains having their own clashes and issues. At the center of the latest movement is the Tron Foundation and Splinterlands, the most popular Dapp on the Steem blockchain.

According to recent reports, Splinterlands has moved to Steem ‘s rival blockchain Hive. This move came after Justin Sun had just founded Tron, who had recently acquired Steemit. Splinterlands is one of several Dapps part of an exodus to Steem’s fork blockchain.

The move of the Splinterlands has created quite a ruckus in the Tron blockchain, with several Tronics calling it out. Splinterlands, on their part, were quite ecstatic about the shift and even tweeted “Rejoice Splinterlandians!” Over the last few months, the Dapp has been quite a performer with a daily active wallet count of 4750. Even when the numbers were calculated on June 2, the number of unique wallets rose to 4829.

The trust in the Dapp was enough to show its developers that the community was still with them. Hive,  the fork of Steem has also benefited from migration in many ways. It was seen that on the day Splinterlands moved to the Hive blockchain, a whopping 16 per cent more traffic than Steem was recorded. According to market analysis, Splinterlands has also become the single most popular Dapp on the state of Dapps and DappRadar, two of the most popular Dapp metric counters.

Splinterlands’ announcement read:

“On Monday, June 1st, 2020 the Splinterlands game is planning to switch to the Hive blockchain as the blockchain of record for all game-related transactions. This is a very important transition for the game and not something we take lightly, but we feel that it is necessary to ensure the best possible future for the project and that it is in the best interest of our players and stakeholders.”

Sources from the Dapp made it clear that they did not take any sides within the community and only wanted what was best for the organization as a whole. Officials also reassured users that all Splinterlands assets will be completely safe and unaffected, giving a huge reprieve to all those involved in the project.