BitKan (Huobi: KANBTC) has broken out of the triangle pattern in the daily chart.
(Chart courtesy of Tradingview.com (log scale))
Elliott Wave Analysis
In Elliott Wave terms, BitKan began a wave one advance on February 19. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on April 3, and the red wave two (blue sub-waves a-b-c) correction ended on May 14. If this wave count is correct, BitKan should be heading next towards the April 3 peak in the red wave three.
(Chart courtesy of Tradingview.com (log scale))
Funnymentals
BitKan is a cryptocurrency data and blockchain community service provider. They launched BitKan Smart Trade back in April.
A newly-proposed relay protocol could reduce the “transaction bandwidth” used up by bitcoin nodes by up to 75%.
cointelCalled Erlay, the proposed protocol alters the way transactions are relayed so that they use significantly less bandwidth, an important resource for the nodes that make up the network. The authors include The University of British Columbia researcher Gleb Naumenko as well as two bitcoin development heavy-weights: Greg Maxwell and Pieter Wuille.
The way bitcoin works is that nodes across the world tie together to form a network. Under the hood, once a transaction is broadcast, it ripples through this vast network of hardware.
EOS holders voted to reduce the annual inflation rate from 5% to 1% as of June 1, according to data on the voting platform maintained by EOS Block Producer (BP) EOS Authority.
According to the poll’s description, out of the current 5% of annual EOS inflation, 4% is being accumulated in the eosio.saving account while 1% is distributed among BPs in exchange for network maintenance. About 3.6 million EOS are reportedly created and sent to this on-chain account every month, and this number increases due to compound inflation mechanisms.
The original purpose of accumulating funds on the aforementioned account was allegedly to have the community vote on how to spend it or even burn it. Still, the proposal claims:
“However, 8 months have past and there is still no defined use for this large quantity of EOS tokens that continues to flow into the eosio.saving account. This large quantity of accumulated tokens has now become excessive and if we continue to allow it to keep growing, it will eventually become an attack vector for the network.”
Let’s talk about bitcoin, toxicity and inclusiveness.
(Boy, my Twitter feed is going to have fun over the next few days.)
To start with, let me take a position: I stand with those people, especially women, who’ve lately been calling out maltreatment from members of the bitcoin community and citing rude and abusive behavior as proof of that community’s lack of inclusiveness. These are people who believe in cryptocurrency technology’s potential but feel discouraged to believe that they belong to the community’s dominant white-male subculture. If this technology is to fulfill its global potential, the community associated with it must confront this problem.
But the real point of this column is not to just defend these critics. It’s to debunk one of the more common positions adopted by those who take issue with their complaints, particularly on Twitter. In doing so, I hope to emphasize just how important the concepts of “community” and “culture” are to the healthy development of crypto technology and the ecosystem growing around it.
Global settlement firm OKLink, a sister company of major cryptocurrency exchangeOKEx, will launch its stablecoin today, June 3, an OKEx representative told Cointelegraph.
In an email sent to Cointelegraph, the OKEx rep specified that the stablecoin — dubbed USDK — will be launched today in partnership with United States-based custodian Prime Trust.
On June 2, OKLink posted scans of the agreement between OKLink and Prime Trust on Twitter. At the end of last month, Star Xu — founder of exchange services provider OKCoin and OKEx — announced OK Group’s partnership with the trust company and plans to launch a stablecoin.
Global settlement firm OKLink, a sister company of major cryptocurrency exchangeOKEx, will launch its stablecoin today, June 3, an OKEx representative told Cointelegraph.
In an email sent to Cointelegraph, the OKEx rep specified that the stablecoin — dubbed USDK — will be launched today in partnership with United States-based custodian Prime Trust.
On June 2, OKLink posted scans of the agreement between OKLink and Prime Trust on Twitter. At the end of last month, Star Xu — founder of exchange services provider OKCoin and OKEx — announced OK Group’s partnership with the trust company and plans to launch a stablecoin.
Mainnet upgrade to optimize DPoS consensus performance and improve node connection stability.
STEEM Trading Update by my friend @cryptopassion
Here is the chart of yesterday :
Here is the current chart :
As usual the STEEM has some delay but is continuing to follow the BTC? So the resistance line at 0.39$ is now broken and we should go in direction of the resistance line around 0.43$. If the BTC is doing its pullback, we took some distance from our support line so we could do a similar pattern and make a pull back on the 0.39$. Let’s see, this scenario is not mandatory to test the 0.43$ level.
For the fourth month in a row, BTC has closed with a green monthly candle. Each candle closing stronger than the last. We are now closer to the previous all-time high (roughly 128%) than the bottom (approximately 170%).
https://www.tradingview.com/x/pRWNUKrN/
So are we due a Pullback?
Of course we are. Are we guaranteed to get one in the coming weeks? No, not at all even above typical market unpredictability.
Why not? All the typical TA indicators scream – correction.
For myself, 2 current factors serve to lessen the likelihood of an imminent (25-40% correction) which by the way I would love to see.
The Standard & Poor’s 500 Index (known commonly as the S&P 500) is an index with 500 of the top companies in the U.S. Stocks. Because the S&P 500 Index represents approximately 80% of the total value of the U.S. stock market, it’s the bellwether index for the U.S. stock market. In addition, the U.S. stock market is the largest stock market in the world, it’s also the bellweather for equity markets around the world. The S&P 500 is arguably the most important stock market index on the planet.
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Because we live in a global economy, the global equity markets
