Bitcoin looks for a potential breakout as Tezos lists on Kraken exchange, Ethereum blockchain upgrades are not yet ready, TRON partnership details, and stablecoin news floods the market. Here’s today’s action!
Crypto Exchange Kraken Lists Tezos
Tezos fans will see Tezos coins (XTZ) available for trade on Kraken today (started at 11 am ET). Until now, HitBTC looked to be the only place for US customers to trade XTZ. Although trading on HitBTC is still technically in and I Owe You (IOU) stage, where deposits and withdrawals on the exchange are disabled.
A Kraken listing will give added liquidity of a major exchange (Kraken) and also allow official US participation in trading.
Tezos trading is a long-awaited activity, as the ICO ended last July (2017). Complications have delayed the post-ICO listing process for Tezos.
Report: Baidu-TRON ‘Partnership’ Involves Cloud Computing Provision, Not Blockchain
TRON recently announced a partnership with a massive search provider in China named Baidu. Today it was reported that Baidu will not actually focus on blockchain, but instead focus on “could computing resources”.
Cloud computing “is the delivery of computing services—s ervers, storage, databases, networking, software, analytics, intelligence and more — over the Internet (“the cloud”) to offer faster innovation, flexible resources, and economies of scale.” Blockchain would help decentralize cloud computing, leading to better security for example.
TRON’s partnership with Baidu will include collaboration “to build, operate, and debug blockchain products” based on Baidu Cloud”.
However, the collaboration is more focused on the level of cloud computing, than on a blockchain partnership status.
Paxos Says It Has Issued $50 Mln Of Recently-Launched Dollar-Backed Stablecoin
Stablecoins like True USD (TUSD) and Tether (USDT) are making headlines almost daily, as the public looks to find a trustworthy option. Stablecoins are supposedly back 1-1 by the dollar of a country, providing stability for trading and investing.
Paxos makes a splash today as they issue roughly $50,000,000 Paxos Standard Tokens (PAX). Paxos has the regulatory backing of the New York State Department of Financial Services (NYDFS). This backing should give PAX users confidence in the validity of PAX tokens.
Do These Indicators Suggest A Bitcoin Price Rally Early In 2019?
Although Bitcoin price is up significantly in the past two years, 2018 has been a tough year. Speculators estimate a price breakout for Bitcoin is coming.
Based on several technical analysis indicators, Bitcoin has a case for a price breakout to the upside.
Technical analysis is the use of price charts to predict future price action. Many chartists agree with the presence of a descending bearish triangle, indicating a price move to the downside.
But some analysts have recently begun to contemplate whether the typical pattern will breakout the other direction (upwards), based on historical Bitcoin price movement.
Ethereum’s Next Blockchain Upgrade Faces Delay After Testing Failure
Ethereum expected to upgrade its blockchain later in 2018. Recent tests suggest the new Constantinople upgrade is not ready.
The team tested the new upgrade last Saturday, only to find “unexpected issues in the code”… “Namely, a bug was discovered by security lead for the Ethereum Foundation Martin Holst Swende, one which caused two different iterations of the same software upgrade to run on testnet” as reported by CoinDesk.
The bug has since been patched (fixed) but requires further analysis by the team.