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Ethereum (ETH) and EOS Cross Chain Token Trading Success by Bancor

Bancor, a decentralized liquidity network, has just announced it has completed its partnership with Block.one to provide cross-blockchain token swaps with EOS and Ethereum (ETH).

EOS and Ethereum (ETH) Automated Token Conversion

The company originally announced its partnership and venture in September. The announcement just published a few hours ago reads:

“BancorX enables automated conversions between Ethereum-based and EOS-based assets without users having to deposit funds on an exchange and without the need for order-matching between buyers and sellers. Anyone can integrate an Ethereum or EOS token with BancorX by staking an amount of those tokens in a smart contract which they own and manage.”

BancorX currently supports a copious amount of Ethereum ERC20 tokens and uses its own BTN token to make the cross-blockchain transfers.

First, either EOS or Ethereum is converted into BTN. Then, the BancorX smart contract removes BNT from circulation and receives account information from the destination chain. Oracles watch the BancorX contract on the original crypto chain and report the BNT amount and destination wallet address to the BancorX contract on the destination chain.

The BancorX contract on the destination chain then issues BNT on its chain. The BNT token can then be converted into the desired coin through Relays on the Bancor Network.

The company also states that its cross-blockchain dApp was built in partnership with LiquidEOS.

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Bancor Movement

In addition to its announcement today about BancorX, the company announced that its Bprotocol Foundation would transfer $10 million to EOS, to encourage development and token liquidity on the EOS network. This money is geared toward incentivizing developers to expand and grow the already vast network.

At press time, EOS remains the fifth largest cryptocurrency by its total market cap and is trading at $5.51 a coin, up 1.25%. Ethereum (ETH) remains in second and is trading at $210.37 a coin, up 4.17%.

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Ethereum (ETH) | Foundation Hands Out Over $3 Million in Awards

The Ethereum (ETH) Foundation has just announced its fourth set of grants given out to 20 individuals and groups working on the Ethereum blockchain.

Ethereum (ETH) Grants

According to the official press release, the total amount of the fourth round of awards was just over $3 million USD.

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In the announcement, the Ethereum Foundation expresses its gratitude to members of the community by saying:

“Thank you to all the fantastic community members that have applied with creative ideas on how to bolster our ecosystem. We would not exist without the time and energy that you put into Ethereum. While the program continues to grow, we will increasingly continue to involve more community members in the decision making process.”

The biggest grants handed out went to Prystmatic Labs and to States, worth $500,000 a piece. Both of these companies are working on developing Ethereum 2.0.

“The ethereum killer is ethereum, the ethereum of China is ethereum, the ethereum of Taiwan is ethereum… 2.0,” said Vitalik Buterin at BeyondBlock Taipei 2017.

Grant recipients were divided by the manner in which they contributed to the development of the Ethereum network and the importance of their work. Other large grants were given to Finality Labs and Prototypal for front-end state channel research.

The funds given out in the awards comes from the Ethereum Capital Fund, which was founded back in February of 2018. Six large-scale blockchain projects created this fund. Golem, OmiseGo, Cosmos, Raiden, and Global Brain all agreed they would grant $100 million to various projects that developed the Ethereum blockchain ecosystem.

Ethereum co-founder, Vitalik Buterin, also donates money to open-source projects that build solutions to improving the Ethereum blockchain network.

DevCon 4

Currently, the Ethereum team is gearing up for Devcon 4 that will be held from Oct 30th–Nov 2nd in Prague. Tickets are currently sold out to this event. Devcon is Ethereum’s annual conference to educate and empower the Ethereum community to build decentralized applications on the Ethereum network.

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Ethereum (ETH) Price Prediction | Tom Lee Thinks ETH will Reach $2,000

Tom Lee has been a long-time crypto bull and has faced Wall Street head on. Lee is the managing partner and head of research at Fundstrat Global Advisors. Usually, he gives his price predictions on Bitcoin (BTC), but yesterday he predicted the price of Ethereum (ETH).

Tom Lee Ethereum (ETH) Prediction

“We believe Ethereum is about to stage a trend reversal and rally strongly,” Lee said in a note to clients Thursday.

Ethereum, the world’s second-largest digital asset, is down more than 70 percent this year. In the past three months, ETH has dropped 50 percent and has been passed by XRP twice, according to CoinMarketCap.

Last year, Ethereum outperformed its predecessor Bitcoin in price, but it seems this year is a different story. Investor patience is wearing thin, as it has been almost a year since Ethereum was bogged down by its inability to handle large amounts of transactions.

The Ethereum Foundation held its DevCon3 conference in November 2017 in Cancun. The main topic of discussion with Ethereum’s scalability issue. A month or so later, Ethereum’s network faced just that. It all started with CryptoKitties, which caused the network to be backed up by nearly 30,000 transactions.

This instance showed that Ethereum’s network was not ready for a dApp to go mainstream and take off.

However, Lee feels that “sentiment is currently overly negative on ETH.” The Fundstrat advisor claims that while the coin underperformed its peers by two standard deviations, that is his “sign of capitulation.” Still, Lee feels that Ethereum’s biggest threat is its challenging technical picture, and many analysts feel that’s why the coin will remain in its downtrend.

ETH Price Movement

Ethereum (ETH) has had a wild week on the market. It was passed by XRP twice but regained its second-largest cryptocurrency position within hours of being passed. At press time, ETH is trading at $225.94 a coin, up 3.12% in 24 hours.

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Cryptos in Red | Ethereum (ETH), Ripple (XRP), and Stellar (XLM)

Well is anyone truly surprised that last week’s crypto bull-run is over? There are cryptos in red today across the board. About 95% of the coinmarketcap.com’s top 100 list to be more precise, but we’re interested in the real losers. The top dog’s who are also today’s top losers, including Ethereum (ETH), Stellar (XLM), and Ripple (XRP).

Let’s check in with these cryptos in red.

Cryptos in Red: Ethereum (ETH)

Saturday saw Ethereum reach a high of $251.20. But it has been downhill from there. In the past 24-hours, ETH has made a further 10.32% drop. It is now practically at the same level it was before it began climbing last week. No exact catalyst is driving ETH price today, more than likely this fall is the “must come down” part of the phrase that starts with “What goes up…

Cryptos in Red: Ripple (XRP)

It was inevitable that Ripple would not be able to maintain such highs.

Let’s recap last week: last week, Ripple doubled its value in a 48-hour period. It hit a height it had never hit before—$0.69, which meant the coin had grown over 100%. The reason for the XRP price explosion could be attributed to Ripple Lab’s unveiling that its xRapid project could debut within a month. This seemed to spur on a rally. Importantly it had a knock-on effect on the market; cryptos were green across the board.

But alas, our biggest gainer then is our biggest loser now. XRP has lost 14.43% in the last 24-hours. However, if it can level off sooner rather than later, the coin will still have gained overall this month. Let’s hope investors keep hodling.

Cryptos in Red: Stellar (XLM)

Stellar tends to follow closely behind Ripple trends. Today is no different. The coin is currently down 10.71% and appears to be losing more. It did grow exponentially last week keeping closely by Ripple’s side so can it pare any of these losses?

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Back in March, Stellar announced it would be implementing the Lightning protocol this December. According to the team, it is still on track for that deadline, and this news should excite investors. The Lightning protocol is deemed to be the best long-term solution for scalability on its network. Stellar wants to improve the user’s experience in terms of speed, throughput, and privacy/security.

It seems like crypto is playing a cruel trick sometimes. It seems inevitable that when cryptos go green, there will soon be cryptos in red.

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Ethereum (ETH), Litecoin (LTC), and Monero (XMR) Rise from the Ashes

The cryptocurrency market is rebounding today, after a brutal couple of weeks on the market. Ethereum (ETH), Litecoin (LTC), and Monero (XMR) are among the coins making the biggest surge this morning.

Recently, the market hit its year-low, and many of the coins reached their yearly lows as well.

Let’s take a closer look at these three coins and their latest developments.

Ethereum (ETH)

Ethereum, the second-largest cryptocurrency by its total market cap, hit its year-low this week, sinking below $180. ETH hadn’t been under the $180 price point since late June of 2017.

Developers are steadily working on solutions to improve the scalability of the Ethereum ecosystem, but no solution has yet to be proven extremely effective. However, these things take time. Rome wasn’t built in a day, after all.

At press time, Ethereum is trading at $204.12 a coin, up 18.22% in 24 hours. It remains unclear what specifically boosted the price of ETH.

Litecoin (LTC)

Litecoin, the seventh-largest cryptocurrency by its total market cap, also hit its year-low price this week. However, LTC has received a boost this morning and is currently seeing percentage gains above 10%.

Next Monday, Bittrex will be launching the LTC/USD trading pair. The US-based cryptocurrency exchange announced this yesterday, and this very well may be the cause of Litecoin’s price lift. Bittrex also announced the USD and TRON (TRX) pairing group, and TRX is currently seeing a price lift above 14%.

At press time, LTC is trading at $54.49 a coin, up 10.45% in 24 hours.

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Monero (XMR)

Monero, the ninth-largest cryptocurrency by its total market cap, is also seeing a boost this morning. However, it remains unclear why the price of XMR has boosted.

It may just be that investors are riding the green wave and diversifying their portfolios.

At press time, XMR is trading at $113.69 a share, up 12.30% in 24 hours.

Where do you think Ethreum, Litecoin, and Monero will go from here?

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