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The OKEx Saga: All You Need To Know 24 Hours Later

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  • The drama around OKEx started on Friday when news broke that the popular exchange had suspended all withdrawals from the platform. 
  • Almost immediately, the cryptocurrency market reacted with price drops. Bitcoin lost about $350 in a few hours. 
  • Shortly after, reports emerged that OKEx co-founder Xu Mingxing was taken by police officers over a week ago and hadn’t returned to work yet. 
  • CryptoPotato reached out to OKEx for comments, and a company spokeswoman asserted that Mingxing is not affiliated with the exchange anymore. As such, they couldn’t comment on any alleged developments.
  • OKEx CEO Jay Hao reassured users that all funds on the exchange are safe. Furthermore, Hao noted that all other activities besides withdrawals were still operational. Those included trading, derivatives, staking, and deposits.
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  • The cryptocurrency monitoring resource Whale Alert found a few transactions tracking hundreds of millions of dollars in BTC supposedly transferred from OKEx to Binance. 
  • However, OKEx published another update hours ago refuting the claims. It reads that the company’s wallet team “has confirmed that the origin wallet addresses in said transactions do not belong to OKEx.”
  • The chief economist of the blockchain analytics company Chainalysis reaffirmed OKEx’s statement. He called the Whale Alert claims “mislabeled” as they were not transfers from OKEx to Binance. 
  • In its latest statement, OKEx apologized for any inconvenience to its users and said that “we will resume digital asset withdrawals as soon as we’ve determined that all security requirements have been met.”
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Source: https://cryptopotato.com/the-okex-saga-what-you-need-to-know-24-hours-later/

Blockchain

I Like Bitcoin Even More, It’s The Best Inflation Trade: Billionaire Investor Paul Tudor Jones

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  • Billionaire hedge fund manager Paul Tudor Jones III has become an even bigger Bitcoin fan following the most recent price developments.
  • As CryptoPotato reported back in May, Jones bought an undisclosed amount of BTC to protect himself amid the rising fears of increased inflations.
  • In an interview with CNBC’s Squawk Box, the prominent investor doubled-down on his words that Bitcoin serves as a hedge against the failing traditional financial world.
  • Jones noted that “I like Bitcoin even more now than then [when he bought BTC in May]. It’s in the first inning and has a long way to go.”
    Paul Tudor Jones
    Paul Tudor Jones
  • He also clarified now that BTC has a single-digit percentage in his investment portfolio. However, he believes that Bitcoin could outperform all other traditionally regarded as safe-haven investment assets:
  • “The reason I recommended Bitcoin is because it was one of the menu of inflation trades, like gold, like TIPS breakevens, like copper, like being a long yield curve and I came to the conclusion that Bitcoin was going to be the best inflation trade.”

  • Jones is not the only representative of the traditional investment world to have come on board the Bitcoin bandwagon. The Former CEO of the insurance giant Prudential and current Chairman of Sanders Morris Harris, George Ball, recently said that BTC is an attractive long-term investment.
  • In addition, giant companies like MicroStrategy and Square recently purchased millions of dollars worth of Bitcoin.

Featured Image Courtesy Of CNBC

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Source: https://cryptopotato.com/i-like-bitcoin-even-more-its-the-best-inflation-trade-billionaire-investor-paul-tudor-jones/

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XRP Bulls Step in With a 5% Daily Increase, Is $0.30 Next? (Ripple Price Analysis)

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XRP/USD – Buyers Finally Break Above Symmetrical Triangle

Key Support Levels: $0.26, $0.251, $0.245.
Key Resistance Levels: $0.261, $0.271, $0.279.

XRP went through a rollercoaster of price action yesterday as it reached as high as $0.271 (bearish .618 Fib) and as low as $0.228 (.618 Fib) during the 24 hours.

The cryptocurrency had been trading within a symmetrical triangle and rebounded from the lower boundary at the start of the week. Despite the whipsaw like movement yesterday, the daily candle still closed beneath the triangle’s upper boundary.

Today, XRP pushed higher to break toward the upside of this triangle. It reached the resistance at $0.261, provided by a bearish .5 Fib Retracement level.

xrpusd-oct22
XRP/USD Daily Chart. Source: TradingView

XRP-USD Short Term Price Prediction

Moving forward, if the buyers can break the current $0.261 level, higher resistance lies at $0.271 (bearish .618 Fib Retracement). Following this, resistance lies at $0.279 (1.414 Fib Extension), $0.286 (bearish .786 Fib), $0.295 (bearish .886 Fib), and $0.3.

On the other side, the first level of support lies at $0.26. Beneath this, support is expected at $0.251, $0.245 (100-days EMA), and $0.237 (200-days EMA).

The Stochastic RSI produced a bullish crossover signal, which helped the recent push higher.

XRP/BTC – XRP Briefly Penetrates Beneath 2000 SAT.

Key Support Levels: 2000 SAT, 1960 SAT, 1915 SAT.
Key Resistance Levels: 2050 SAT, 2127 SAT, 2200 SAT.

XRP has been struggling throughout the entire month of October against Bitcoin. Yesterday, the coin fell from 2050 SAT and broke beneath 2000 SAT. It continued to spike as low as 1915 SAT where it found support at a downside 1.618 Fib Extension.

The coin managed to close the daily candle at the 1960 SAT level (downside 1.272 Fib Extension) and it has rebounded back above 2000 SAT today as it trades at 2015 SAT.

xrpbtc-oct22
XRP/BTC Daily Chart. Source: TradingView

XRP-BTC Short Term Price Prediction

Looking ahead, if the buyers continue higher, the first level of resistance lies 2050 SAT. Above this, resistance lies at 2127 SAT (bearish .236 Fib), 2200 SAT, and 2260 SAT (bearish .372 Fib & 100-days EMA).

On the other side, if the sellers break back beneath 2000 SAT, support lies at 1960 SAT, 1915 SAT, and 1900 SAT.

The Stochastic RSI is in extremely oversold territory as we wait for a bullish crossover signal to send the market higher.

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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.


Source: https://cryptopotato.com/xrp-bulls-step-in-with-a-5-daily-increase-is-0-30-next-ripple-price-analysis/

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BitTorrent Launches BitTorrent X Ecosystem Following DLive Acquisition

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BitTorrent Inc., the firm behind the massively popular BitTorrent protocol and app, has announced its acquisition of blockchain-powered live streaming platform DLive.

DLive will now form part of the newly established BitTorrent X ecosystem, which also includes the BitTorrent File System (BTFS), a service used for distributed file storage and retrieval, as well as the BitTorrent client, which will be utilized delivering these services and more to users.

Transitioning to BitTorrent X

Since the BitTorrent protocol was first developed in 2001, it has become the most successful peer-to-peer data distribution system. It has already been used by well over 2 billion users globally — including massive enterprise users like Facebook, Twitter, and Blizzard.

The BitTorrent file-sharing protocol also appears to be an inspiration that edged Satoshi Nakamoto towards the development of Bitcoin (BTC), as described in a message posted by Nakamoto on the Cryptography Mailing List.

After being acquired by TRON CEO Justin Sun in 2018, BitTorrent has gradually been woven into the rapidly growing TRON blockchain ecosystem, with the BitTorrent File System (BTFS) now being used by the TRON blockchain and DLive as a decentralized storage solution.

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With the acquisition of DLive, BitTorrent is now ready to move into the next stage of its expansion: the launch of BitTorrent X — an ecosystem comprised of BTFS, the BitTorrent (and μTorrent) apps, the BitTorrent token (BTT), and now DLive.

DLive is a leading blockchain-powered live streaming platform and currently has more than 7 million users and 200,000 content creators.

Some of its top creators include PewDiePie, tugaygokyt, and enesbatur — each of whom has hundreds of thousands of followers thanks to their popular gaming and e-sports live-streamed content.

“BitTorrent X is the next step in establishing a truly decentralized internet,” said Justin Sun, founder of TRON and CEO of BitTorrent. “In one big step, the BitTorrent X ecosystem may drive blockchain-related tools to billions of devices. Hundreds of millions of users will have access to the next era of tools to share, store, and stream their content directly to anyone across the web.”

According to the announcement, the BitTorrent X ecosystem will be powered by the BTT cryptocurrency, which is already used for incentivizing users to share their storage space on the BTFS, and can be staked on DLive to earn rewards.

justin_sun_cover
Justin Sun, founder of TRON and CEO of BitTorrent

It is expected that the arrangement will allow potentially billions of users to access decentralized file sharing and live streaming services, with the same simplicity and ease of use users expect from BitTorrent and TRON applications.

“The acquisition marks a new start for DLive.tv. We are more than excited to join the BitTorrent ecosystem as the collaboration will provide us with more innovative solutions to empower content creators and reward communities.” says Charles Wayn, CEO of DLive, “Together with the BitTorrent team, we look forward to bringing disruptive innovations to the digital media space, and furthermore create value for our global community.”

The last few months have been packed full of news coming from BitTorrent and DLive. Last month, it was announced that TRON would now use the BitTorrent File System (BTFS) as the data storage solution for TRON nodes, making onboarding new nodes to the network much simpler and faster. Likewise, DLive recently completed its 2 million Lemon #StayAtHome giveaway, helping to supports its viewers and streamers during the COVID-19 lockdown.

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Source: https://cryptopotato.com/bittorrent-launches-bittorrent-x-ecosystem-following-dlive-acquisition/

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