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Elrond (ERD): This Binance Launchpad IEO Is Up Over 1580% in 3 Months, Enters Top 50

On Monday (July 13), blockchain platform Elrond (ERD), which sold 25% of its total token supply last summer via an initial exchange offering (IEO) on Binance Launchpad, has been one of the best performing cryptoassets over the past three months.



On Monday (July 13), blockchain platform Elrond (ERD), which sold 25% of its total token supply last summer via an initial exchange offering (IEO) on Binance Launchpad, has been one of the best performing cryptoassets over the past three months, and in this article, we attempt to explain why Elrond has many crypto investors and traders so excited.

According to data from CryptoCompare, Elrond is currently (as of 14:30 UTC on July 13), trading at $0.01446, up 22.54% in the past 24-hour period, which means that it is now the 50th most valuable cryptoasset by market cap:

24 Hour CC Chart for ERD-USD on 13 July 2020.png

As for Elrond’s performance in the past 30-day and 90-day periods, it is up (vs. USD) approximately 366% and 1580% respectively.

So, why does Elrond’s ERD token enjoy such bullish market sentiment?

In order to understand this, it might be a good to start with a brief overview of what Elrond is and what problems it is trying to solve.

According to its development team, Elrond Network is trying to be “the most scalable, fast and secure blockchain platform for real world applications, bringing a 1000x improvement compared to blockchains such Bitcoin or Ethereum.”

Here is how Binance Research describes Elrond:

“Elrond is a high-throughput public blockchain focused on providing security, efficiency, scalability, and interoperability by employing two key elements: Adaptive State Sharding and a new Secure Proof of Stake (‘SPoS’) consensus mechanism.

“Elrond’s blockchain protocol for smart contracts & dApps can process over +10k transaction per seconds with low block times (5s), negligible transaction fees, and with fast finality for cross shard transactions in a matter of seconds.

“The Adaptive State Sharding, works via shard merges & splits for unlimited scalability, and uses a fully sharded Architecture, which includes state, transactions, and network. This architecture is deemed highly resilient against malicious attacks due to validators shuffling between shards.

“Elrond features smart-contract royalties, where 30% of the fees can be reallocated to the smart contract author.

“ERD is the native asset of Elrond and is used to pay for transaction fees and the cost of deploying dApps on the network, along with rewards for various contributions to the network.”

And according to Elrond’s website, Elrond launched a prototype in Q3 2018, had its public testnet launch in Q3 2019, and is expecting to have its mainnet launch on July 30.

As for the road ahead, Elrond plans to introduce Elrond dApp store, Elrond digital identity, and Elrond name service in Q3 2020, and DeFi initiatives, privacy features (“Palantir”), and cross-chain interoperability in Q4 2020.


Ethereum Price Prediction: ETH/USD Regains Ground But Yet to Break above the $420



ETH Price Prediction – October 27

The Ethereum price is seen climbing higher and settling above the main $400 barrier.

ETH/USD Market

Key Levels:

Resistance levels: $450, $460, $470

Support levels: $355, $345, $335

ETHUSD – Daily Chart

ETH/USD may continue to move above the 9-day and 21-day moving averages until it finds resistance at the level of $420. The fact remains that the Ethereum coin may continue to move at the upside in as much as the 9-day MA stays above the 21-day MA. Nonetheless, the price can still rise higher and break above the upper boundary of the channel if the bulls put more effort.

What to Expect from Litecoin (LTC)

If the buyers continue to add more pressure to the market, an initial resistance is expected at $425. Above this, further resistance can be found at $450, $460, and $470 levels. On the other hand, the moment the bears step back into the market and cross below the moving averages, initial support is located below the $370. Beneath this, additional supports are expected at $355, $345, and $335.

More so, the RSI (14) is trying to cross above the 60-level which shows that the bullish momentum may continue. On other hand, if the technical indicator fails to cross above the 60-level then the bears stand a chance to return back into the market. However, if it remains within this range, the cryptocurrency may begin a sideways movement.

Against Bitcoin, ETH is experiencing some difficulties, especially in the past few days. The Ethereum (ETH) recently broke under the 9-day and 21-day moving averages and may continue to fall towards the subsequent support of 3000 SAT. The critical support level is found around 2900 SAT as the RSI (14) moves into the oversold region.

ETHBTC – Daily Chart

However, ETH/BTC remains below the moving averages as it fails to rebound higher above the 3031 SAT. However, if it continues to drop beneath this level, then the market would be considered as bearish and could reach the critical supports at 2800 SAT and below. To turn bullish, ETH must rise much higher and break above the 3200 SAT level and above.


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ETH Miners Start Selling Their Holdings As Sentiment Turns Bearish




ETH miners start selling their holdings as the sentiment turned quite bearish on Twitter so can we expect an incoming correction? Let’s find out in today’s ethereum news.

The recent data revealed that ETH miners start selling significant ETH holdings after the latest price jump to $420. The Twitter sentiment turned bearish for the cryptocurrency after the price drop. Ethereum miners which are the lifeblood for the algorithm behind the Ethereum blockchain, have gained the most from the ongoing decentralized finance craze. They made a total of $166 million in fees in September which is a new monthly all-time high and about six times more than Bitcoin miners.

eth miners
ETH Miners Behavior. Source Santiment

As far as the balances go, they started accumulating bigger portions at the start of September as the graphs show. Apart from slight drops in holdings, the trend continued for a few days. However, the price of the second-biggest cryptocurrency surged to a 7-week high of $420 as miners started changing their minds. The data analytics company Santiment outlined the massive drop for the ETH miner holdings. The sell-off coincided with Ethereum’s price peak but the second-largest digital asset by market cap which lost some steam and trades now below $400.

eth twitter
Ethereum Twitter Sentiment. Source Santiment

Despite being one of the best-performing assets since 2020 started, Santiment’s data suggested that ETH could be heading further south. Apart from miners depositing their ETH coins, the analytics companies say that the traders’ FOMO and the increased on-chain data activity that is visible recently, slowed down. The Twitter sentiment turned against Ethereum which was expected but the sentiment performs in correspondence with the price most of the time. When ETH dipped to about $300 the metric remained in negative territory for a few weeks consecutively.


On the contrary, when ETH started pumping, the sentiment pumped as well. Now the trend reversed after a sharp spike but the analytics company concluded that since the sentiment flipped into bearish territory, the ETH token could be in for a few short-term price drops as well. As reported earlier, Ethereum is facing huge price movements as it is winding up for another shot of breaking the $420 level. The positive fundamentals for Ethereum are supporting the bulls in the near-term.

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IDEO CoLab Unleashes $21 Million Early Stage Crypto Fund

The venture fund has helped incubate more than 30 blockchain startups since 2018.



In brief

  • IDEO CoLab Ventures is backed by IDEO, Avanta Ventures, GS Group, Hansha Asset Management, and Fineqia.
  • The venture capital fund sees crypto and blockchain as a key driver of societal change.
  • IDEO CoLab Ventures has already invested in Braintrust, Handshake, and FalconX.

IDEO CoLab Ventures, which has been investing in blockchain firms since 2018, has announced a $21 million fund specifically for early stage crypto firms. So far, the fund has invested in and helped incubate more than 30 crypto and blockchain startups. 

IDEO CoLab Ventures is backed by design company IDEO as well as GS Group, Hansha Asset Management, Fineqia International, and Avanta Ventures (the venture capital arm of CSAA Insurance Group). Executives from Coinbase, Twitter, and Fortress have also signed on.

“Our deep capabilities in design, product development and blockchain technology enable us to attract world-class entrepreneurs and startups from around the world,” Ian Lee, managing director of IDEO CoLab Ventures, said in an announcement

“This has led to unparalleled investment opportunities and the chance to collaborate with some of the world’s best founders and companies on the development of this important technology and the businesses that are being built on it.”

IDEO has helped incubate firms with a range of services, including product, design, and customer research. IDEO CoLab Ventures investments have included Braintrust, a user-controlled talent network; Handshake, a decentralized naming and certificate authority; and FalconX, a digital asset trading platform. 

It’s looking to back blockchain and crypto projects focused on developing Web 3 infrastructure, open finance products, and innovative networks and marketplaces.

“We’ve had a longstanding partnership with IDEO CoLab, collaborating on investments and a blockchain solution for insurance verification,” Debbie Brackeen, executive vice president and chief strategy and innovation officer at CSAA Insurance said in the Medium post. 

“Blockchain is a disruptive technology that will affect many industries, and we’re excited to continue our partnership with IDEO CoLab Ventures who is at the forefront of this important work.”

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