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Consensys hosts international panel during Blockchain Ireland Week



On Wednesday 29th May at Consensys’s offices in Ringsend, other than having ran a hackaton the previous week, a wide cross section of the Irish blockchain industry descended on their offices to hear a very interesting talk from Joyce O’Connor, Chair of the Institute of Irish and European Affairs, Gilbert Verdian, CEO of Quant Network, and Chaals Nevile, Technical Program Director of the Ethereum Enterprise Alliance. The evening was MC’ed by Lory Kehoe, Managing Director of Consensys Ireland and one of the main organisers of Blockchain Ireland Week. With easily over a hundred people in attendance, the audience included many Source:


TomoChain Builds on Blockchain Commerce Following Lition Acquisition



Tomochain, the Singapore-based smart contract platform, has taken another stride towards its aim of hosting government and enterprise applications with its acquisition of Lition, a German company that provides public and private blockchain services.

Launched on Ethereum in October 2020, Lition represents a bridge between public and private blockchain use-cases with its ability to delete privately hosted data in accordance with the EU’s General Data Protection Regulation (GDPR) guidelines.

This aligns with TomoChain’s goal to entice governments and enterprises to utilize its platform – a goal that has historically been fraught with concerns over regulatory compliance.

TomoChain Eyes European Market

TomoChain is expected to leverage Lition’s experience in navigating Europe’s regulation-heavy blockchain landscape. Lition has already created a multi-million dollar peer-to-peer marketplace that connects renewable energy providers with consumers. Lition also recently piloted a $20 million loan between two of Germany’s VR Bank cooperatives and a national real-estate developer.

Combined with Lition’s recent efforts in creating Proof-of-Existence service, which verifies legal documents on the blockchain for EU clients, TomoChain will seek to take advantage of Lition’s breakaway success and use it to help create large-scale solutions for healthcare and automotive industries.

“Lition’s assimilation into our Enterprise division strengthens TomoChain’s consultation services and product development for large-scale enterprises, as well as for government,” said Long Vuong, Founder and CEO of TomoChain, adding, “We intend to optimize Lition’s core technology as a base to further extend digital money and other financial products.”

The acquisition was celebrated by Lition founder and CEO Richard Lohwasser, who said:

“This is a great day and a defining moment for Lition, adding, “We join a company in TomoChain with tremendous scale and resources, and a culture completely aligned with ours.”

The two sides will be holding a joint-AMA on October 30th where they’ll likely reveal more details about the acquisition and how the new structure will be implemented.

EU Embraces Digital Innovation

The EU recently accepted proposals for the creation of a pan-European regulatory sandbox for regulations pertaining to crypto-assets and distributed ledger technology. Although still in the pilot stage, the EU said it is open to ideas from companies and regulators and will facilitate the testing of innovative solutions hosted on the blockchain.

The European Commission has declared its ambition to move away from cash purchases in the EU region – a method of payment that still makes up 78% of transactions. Recent documents published in the EU policy publication Euroactiv revealed the EU would launch a comprehensive set of crypto regulations by no later than 2024.

While the acquisition of Lition will help TomoChain gain a stronger foothold in EU markets, the newfound relationship will also help Lition expand into TomoChain’s native markets in Asia. Lition CEO Richard Lohwasser said the acquisition would help accelerate the growth of the company on a global scale.

“The acquisition provides Lition with the opportunity for greater reach throughout Asia, enhanced operational efficiency and innovations that will benefit everyone. We are excited to leverage our combined resources to accelerate the next stage of Lition’s growth into a global player,” said Lohwasser.

Lition is expected to become a key division in TomoChain’s blockchain ecosystem. Built on the Ethereum network, it will continue to work on creating scalable sidechains for use in commercial use cases. Meanwhile, TomoChain will use Lition’s private/public distributed ledger technology to target large-scale financial institutions.


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Correction? $15 Billion Evaporate from Crypto Markets as Bitcoin Loses $700 in Hours



There’s never a boring day in the cryptocurrency field. Yesterday, the entire community was ecstatic as Bitcoin’s price made a run for the 2019 highs. Unfortunately, it came inches away from it and started to retrace.

Today, the total cryptocurrency market capitalization is down about $15 billion since its most recent peak hours ago.

Bitcoin Price Down $700 in Hours

Crypto bulls would have to wait another day as the most recent surge has been halted. Bitcoin’s price lost about $700, crashing from a high of $13,859 to an intraday low of $13,142 on Binance.

As CryptoPotato reported earlier today, BTC’s price came very close to breaking the peak of 2019 but failed to do so.

In any case, the price has currently settled above $13,250, and it’s interesting to see where do we go from here. Should the bulls continue to dictate the pace, $13,400 is the immediate mark to look for. On the other side, $13,150 and $13,000 are the closest support areas to defend.

BTC/USDT. Source: TradingView

Altcoins Suffer Just as Much

As it’s almost always the case, the negative move in Bitcoin’s price dragged the entire market down as well.

Altcoins are also deep in red, and most of them are charting substantial decreases.

Cryptocurrency Market Heatmap. Source: Quantify Crypto

As can be seen on the above heatmap, Ethereum is down to below $390, while other majors such as Ripple, Binance Coin, Link, and so forth are also bleeding out.

However, Bitcoin’s dominance took a hit, and it lost about 0.4% in the past few hours, meaning that altcoins managed to reclaim some grounds.

Elsewhere, the pain is felt on legacy markets as well. At the time of this writing, S&P 500 futures are trading at a 2% loss, while NASDAQ futures are down about 1.65. The Dow Jones Industrial Average (DJI) is down a whopping 2.2%.


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ETH Price Analysis: Ethereum Says Goodbye to $400 As Sentiment Turns Bearish



ETH/USD – Bulls Defending .382 Fib Retracement

Key Support Levels: $377, $370, $364.
Key Resistance Levels: $400, $410, $416.

Toward the end of last week, Ethereum surged higher from $370 as it climbed above the $400 level and managed to reach as high as $421 (1.414 Fib Extension). More specifically, it was unable to close a daily candle above the $416 resistance (bearish .618 Fib Retracement) throughout the weekend which caused it to drop beneath $400 on Monday.

Yesterday, the buyers did attempt to recover as they spiked into the $410 resistance. However, the sellers returned today to push ETH into the $389 support (.382 Fib Retracement). The support here is further bolstered by Octobers’ rising trend line.

ETH/USD Daily Chart. Source: TradingView

ETH-USD Short Term Price Prediction

Looking ahead, if the sellers break beneath $389 and push below the rising trend line, the first level of support lies at $377 (.5 Fib Retracement). Following this, support is found at $370, $364 (2019 High), and $355 (100-days EMA).

On the other side, the first level of resistance lies at $400. This is followed by $410, $416 (bearish .618 Fib), and $421 (1.414 Fib Extension).

The RSI has returned to the mid-line to indicate indecision within the market. If it dips further beneath the mid-line, the sellers will gain control of the market momentum and will likely push ETH beneath the current trend line.

ETH/BTC – Sellers Push Coin To 3-Month Lows

Key Support Levels: 0.0288 BTC, 0.0284 BTC, 0.0281 BTC.
Key Resistance Levels: 0.03 BTC, 0.0305 BTC, 0.0311 BTC.

Against Bitcoin, Ethereum has struggled heavily in October as it reached a 3-month low today. Earlier in the month, ETH fell beneath a symmetrical triangle which was the first sign that there was some downward pressure ahead.

This week, ETH dropped beneath the 0.03 BTC level a couple of days ago. Yesterday, ETH continued lower as it fell beneath the 200-days EMA to reach the current 0.0292 BTC support today.

ETH/BTC Daily Chart. Source: TradingView

ETH-BTC Short Term Price Prediction

Looking ahead, if the sellers continue to drive lower, the first level of support lies at 0.0288 BTC. This is followed by support at 0.0284 BTC (Feb 2020 High), 0.0281 BTC, and 0.0278 BTC.

On the other side, the first level of resistance lies at 0.03 BTC. Above this, resistance is expected at 0.0305 BTC, 0.0311 BTC, and 0.032 BTC (100-days EMA).

Both the RSI and Stochastic RSI are in extremely oversold territory which shows the sellers might be a little overextended.


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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.


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