ETH

Several German Banks have sought permission to set up digital asset custody businesses. This is according to a report by news outlet Handelsblatt. The Report indicates that Germany’s financial regulator BaFin acknowledged the receipt of over forty applications from parties intending to provide custodial services for cryptocurrencies. BaFin Empowering Financial Institutions The country recently overhauled its Money Laundering Act. The changes grant banks and other domestic financial providers the right to administer traditional securities including stocks and bonds, besides digital…

Weiss Ratings has assigned Bitcoin (BTC) an A- grade in its recent rankings. The crypto also received an  “excellent” rating based on its remarkable price performance. The firm published its ratings via Twitter on February 7. In March of last year, Weiss Ratings identified BTC, XRP, and EOS as the cryptocurrencies having the best adoption-technology combination. The new rating gives BTC the edge over XRP and EOS in all parameters. EOS's rating is a downgrade due to its centralization issues.…

Developers of Ethereum 2.0 remain optimistic about its deployment this year. Although initially scheduled to launch in the first quarter it had been postponed.  The team undertaking the upgrade held a Reddit AMA event on Feb 5 to clarify certain things. They affirmed that the launch would proceed after three clients successfully run their testnets continuously for a minimum of two months. The protocol's researchers Danny Ryan, Justin Drake, and Vitalik Buterin participated in the AMA. Drake stated that he…

The ETH/USD price is sustaining some significant support over $185, and the price may continue to uptrend to over $190, and keep it up in the near term. This year, the price attained a fresh high of $195 before a downside retracement. This retracement resulted in below $192 and $190 support.  However, the support zone at $185 became a rugged bullish area together with the 100 hourly SMA. The price eventually formed a swing low close to $184, and currently,…

At the beginning of the year 2020, Virgil Griffith, an ethereum researcher, got accused due to traveling to North Korea and purportedly aided the country to evade sanctions. Griffith got arrested by the FBI last year for allegedly traveling illegally to North Korea. Prosecutors said that Virgil Griffith used blockchain and cryptocurrency to assist North Korea in evading sanctions. He got charged with violating the International Emergency Economic Powers Act. On the 30th of January 2020, NK news reported that…

On the 28th of January, a press release confirmed that the Ethereum foundation gave a $650k grant to Nimbus. The grant is for Nimbus to continue working on light Ethereum 2.0 clients. The project aims to allow smartphones and other embedded devices to handle smart contract capable nodes. In March 2018, Status launched Nimbus as an infrastructure project. The Ethereum Foundation and Gitcoin contributed to the project’s funds. Ethereum Foundation also contributed an aggregate of 1.65 million USD. Initially, the…

Recently, ETH/USD price declined hence breaking the support at $160. Additionally, there is a likelihood of the ethereum price to keep moving to the downside, under the supports at $158 and $155 in the short term. Ethereum failed to rise over the barrier at $170, and declined steadily, thereby breaking below the support at $165 and the 100 hourly SMA. A further decline led to a break of the $162 support below the support at $160. The price formed a…

In its simplest sense, an Atomic Swap is a mechanism that uses smart contract technology to enable the exchange of one cryptocurrency for another without using centralized intermediaries, such as exchanges. Atomic swaps are a technique that allows the quick exchange of two different cryptocurrencies running on distinct blockchain networks. Such a process (also known as atomic cross-chain trading) is based on smart contracts. It allows users to trade their coins directly from their crypto wallets. Before discussing an Atomic Swap, let…

Last week, a vast ETH upsurge led to a 20% gain based on the price data from Coin360. ETH’s performance was greater than for Bitcoin, which gained 9% within the period. Nevertheless, ETH’s performance was lower than other altcoins that saw massive parabolic rallies within a few days. BSV close to 250% at the Zenith of the rally this week, ETC secured 100% gains as Zcash more than doubled. Crypto analysts worry about the immediate direction of ETH, despite its…