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Credits blockchain team has officially announced the launch of a swap of ERC-20 CS token to CS coin, which is based on the company’s unique protocol. The mass migration of tokens assisted by KuCoin, the popular cryptocurrency exchange, will be held on 20th December 2019. All operations including trading, depositing and withdrawing on the tokens will be closed on the said date from 12:00 UTC for 24 hours.

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There is a growing tendency of using tokens as a means of payment on the traditional markets. The blockchain economy has given rise to entirely new classes of assets like Credits.com’s coin.

CS Native Coin is an important part of Credits infrastructure which supports its operating, motivating its participants and creating new opportunities for application in financial models of a variety of businesses. Moreover, the ability to issue digital assets on the Credits chain creates a demand for Credits native token, which serves as intermediary currency for access to the purchase of tokens, issued on the chain.

Credits blockchain services allow companies around the world to create and store cryptographically secured data related to transactions and operations in blocks. Businesses can issue stablecoins, digital assets, tokens, and loyalty points through autonomous smart contracts on the Credits platform. They may also build services based on Credits’ technological solutions. 

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Over the course of development, Credits Blockchain has been able to carve its name in the international market by partnering with some of the top-tier companies including IBM, Lenovo and Mina Stones

The lightning-fast infrastructure blockchain platform takes 0.1 seconds to confirm a transaction and generates about 5 blocks per second. The platform can process up to 1 million transactions per second, each transaction costing around 0.00001$. These huge volumes and supersonic speeds make Credits the first to have blockchain technology ready for mass adoption, especially with financial markets.

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Credits [CS] Announces the Mainnet Token Swap

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Credits [CS] Announces the Mainnet Token Swap

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Credits blockchain team has officially announced the launch of a swap of ERC-20 CS token to CS coin, which is based on the company’s unique protocol. The mass migration of tokens assisted by KuCoin, the popular cryptocurrency exchange, will be held on 20th December 2019. All operations including trading, depositing and withdrawing on the tokens will be closed on the said date from 12:00 UTC for 24 hours.

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Coingape

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cryptocoach

Coingape is committed to following the highest standards of journalism, and therefore, it abides by a strict editorial policy. While CoinGape takes all the measures to ensure that the facts presented in its news articles are accurate.

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The views, opinions, positions or strategies expressed by the authors and those providing comments are theirs alone, and do not necessarily reflect the views, opinions, positions or strategies of CoinGape. Do your market research before investing in cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.



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Guest Author , 2019-11-28 17:59:38 ,

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NewsBlock © 2019 - 2020 All rights reserved.

NewsBlock © 2019 - 2020. All rights reserved.


While Bitcoin’s price seemingly moves without rhyme or reason — collapsing by dozens of percent and embarking on face-melting rallies on a whim — the cryptocurrency market is filled to the brim with fractals.

Related Reading: Analyst: Bitcoin Price Likely to Fall to Low-$8,000s as Chart Remains Weak

A brief aside: A fractal, in the context of technical analysis and financial markets anyway, is when an asset’s price action is seen during a different time. This form of analysis isn’t that popular, but it has proven to be somewhat valuable in analyzing Bitcoin.

One recent fractal popularized by a well-known cryptocurrency trader is implying that BTC is going to return to the low-$7,000s in the coming days.

Bitcoin Fractal Implies Retracement to Low-$7,000s

A well-known crypto trader going by “Tyler Durden” on Twitter recently posted the chart below, which shows that a Bitcoin price fractal may be playing out. The fractal has four phases: horizontal consolidation marked by one fakeout, a surge above the consolidation phase, a distribution, then a strong drop to fresh lows.

If the fractal plays out in full, BTC could reach the low-$7,000s again, potentially as low as $7,100. This would represent a 20-odd percent collapse from the current price point of $8,800.

It isn’t only a fractal that is hinting Bitcoin has the potential to visit its lows. As we reported on Saturday, Bloomberg believes that if the GTI Vera Convergence Divergence Indicator flips red, a downtrend could push the cryptocurrency back to $7,300.

Related Reading: Stephen Colbert Pokes Fun at Bitcoin in Monologue: Mainstream Gone Wrong?

Can Bulls Step In?

But again, many believe it is irrational to have such bearish interpretations of the cryptocurrency’s chart at the moment. As reported by NewsBTC earlier, Popular crypto trader Mayne recently noted that the “people waiting for $6,000” are irrational. He quipped that Bitcoin retracing and consolidating after its fourth-biggest bull move in history ($7,300 to $10,500, a 42% gain) is perfectly par for the course, but noted that it’s totally possible we can go lower from $8,800.

The medium-term technicals support this.

Trader and CoinTelegraph contributor FilbFilb found that by the end of November or start of December, the 50-week and 100-week moving averages will see a “golden cross,” which he claims is far more significant” for the Bitcoin market that other technical crosses.

Also, a Bitcoin price model created using Facebook Prophet machine learning found that the leading cryptocurrency is likely to end the year at just over $12,000. What’s notable about this model is that it called the price drop to $8,000 months in advance, and forecasted a ~$7,500 price bottom for BTC.

To put a cherry on the cryptocurrency cake, Crypto Thies observed that when Bitcoin bottomed at $7,300, it bounced decisively off the 0.618 Fibonacci Retracement of the move from $3,000 to $14,000, which correlates with the two-week volume-weighted moving average. He added that summer 2019’s consolidation was marked by Bitcoin flipping major resistances into support levels, implying that a bullish reversal and subsequent continuation is likely possible in the coming weeks.

Featured Image from Shutterstock


Nick Chong , 2019-11-10 12:00:38

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