Crypto wallet and trading platform Abra recently enabled access to 17 Altcoins.Abra which is led by Bill Barhydt added native support to 17 altcoins including Digibyte (DGB), Dogecoin (DOGE), Dash (DASH), Basic Attention Token (BAT), Neo (NEO), 0x (ZEX), OmiseGo (OMG), Qtum (QTUM), Vertcoin (VTC), Zcash (ZEC), Golem (GNT), Stratis (STRAT), Augur (REP), Ethereum Classic (ETC), TRON (TRX), Lisk (LSK) and Status (SNT).
In addition to Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Bitcoin Cash (BCH) users will soon be able to deposit and withdraw an additional 17 Crypto assets.
Native withdrawals for the other cryptocurrencies will be turned on in the coming days.
— Abra (@AbraGlobal) May 8, 2019
Abra is a non-custodial wallet meaning the private keys will not be held by the company but within the user’s device instead. The firm has also previously announced that it will enable users to buy synthetic equivalents of stocks and ETFs using Bitcoin smart contracts.
Abra Partners with Plaid to connect to “Thousands of banks”Abra has partnered with San Francisco based Fintech firm Plaid to connect user accounts to thousands of US banks. App users had to use bank transfers to deposit into their wallets, but with the new feature, they will able to connect to their bank accounts directly in-app using their API.
Bill Barhydt, CEO of Abra said:
“The addition of these new liquidity enhancements in our app gives users more ways to move between crypto and fiat. We’re particularly excited about our partnership with Plaid, which brings thousands of additional financial institutions into the Abra ecosystem for US customers.”
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Shrikar Parashar Shrikar is a Blockchain evangelist. He is a die-hard fan of security tokens. He follows the market closely but does not trade. He believes in Hodling.
In a strategic move poised to reshape the landscape of blockchain interoperability and functionality, Qtum, a pioneering decentralized blockchain platform, has announced its ambitious plan to integrate BRC-20 token support into its network.
Revealed through social media channels on February 15, the initiative underscores Qtum’s commitment to fostering an inclusive and dynamic ecosystem that caters to the evolving needs of developers and users alike. By developing a suite of tools designed for the seamless incorporation of BRC-20 tokens, Qtum aims to enhance its platform’s capabilities, thereby solidifying its position in the competitive blockchain arena.
Expanding Qtum’s ecosystem through BRC-20 integration At the heart of Qtum’s latest initiative is the goal to broaden the network’s utility and appeal. BRC-20 tokens, reminiscent of Ethereum’s ERC-20 standard but with unique attributes tailored to the BRC protocol, represent a significant evolution in token technology. By supporting these tokens, the platform intends to unlock new avenues for decentralized applications (dApps) and smart contracts, further enriching its already diverse ecosystem. The integration process will commence on the testnet, focusing initially on Ordinals and BRC-20 tokens. The careful, phased approach ensures a stable and secure environment for developers to experiment and refine their applications before the full-scale implementation goes live on the mainnet.
The development initiative is not merely a technical enhancement; it is a strategic move designed to attract a wider array of developers and users to the platform. By embracing the BRC-20 standard, the platform is setting the stage for a more versatile and interoperable blockchain environment, where diverse token types can coexist and interact seamlessly. Such interoperability is crucial for the long-term viability and success of blockchain platforms, as it facilitates a more connected and functional decentralized web.
Enhancing developer and user experience The introduction of BRC-20 token support is poised to significantly impact the developer experience on the platform. Developers are constantly seeking platforms that offer flexibility, security, and a broad range of functionalities. Qtum’s decision to support BRC-20 tokens directly responds to these needs, offering developers a more robust toolkit for creating sophisticated dApps and smart contracts. The move is expected to catalyze innovation within the Qtum ecosystem, leading to the development of new applications that leverage the unique features of both the the platform and BRC-20 protocols.
For users, the integration of BRC-20 tokens promises an enriched experience with access to a wider variety of applications and services. The expansion of the Qtum ecosystem means users can look forward to engaging with new dApps that offer diverse functionalities, from decentralized finance (DeFi) platforms to tokenized digital assets and beyond. The increased utility and versatility of the Qtum network will likely attract a broader user base, contributing to the platform’s growth and the overall adoption of blockchain technology.
A forward-looking approach to Blockchain development Qtum’s initiative to support BRC-20 tokens exemplifies the platform’s forward-looking approach to blockchain development. By continuously seeking to enhance its network’s capabilities, Qtum demonstrates a commitment to innovation and adaptability. The platform’s unique combination of Bitcoin’s UTXO model with Ethereum’s smart contract functionality has already set it apart as a secure and efficient environment for dApp development. With the addition of BRC-20 token support, Qtum is further expanding its technological horizons, embracing the future of decentralized technology.
The specific timeline for the full implementation of BRC-20 token support on the Qtum network remains undisclosed, adding an element of anticipation within the blockchain community. However, the announcement has already sparked interest and excitement among developers and users eager to explore the enhanced possibilities of the Qtum platform. As the project progresses, the blockchain community will keenly watch Qtum’s journey towards creating a more inclusive, functional, and interoperable ecosystem.
Conclusion Qtum’s plan to integrate BRC-20 token support marks a significant milestone in the platform’s evolution. The initiative not only aims to enhance the network’s capabilities but also to foster a more vibrant and inclusive ecosystem. By embracing the BRC-20 standard, Qtum is paving the way for a new era of blockchain interoperability and functionality, promising a future where developers and users alike can explore the full potential of decentralized technology. As Qtum embarks on the ambitious project, the broader blockchain community awaits the transformative impact it will have on the landscape of decentralized applications and smart contracts.
The Qtum Foundation recently announced the deployment of 10,000 GPUs to power its new blockchain AI ecosystem. This strategic move marks a significant transition for Qtum, shifting its focus from cryptocurrency mining to artificial intelligence operations. Miguel Palencia, COO and cofounder of Qtum, emphasized the importance of this transition, highlighting the credibility it brings to their AI initiatives. This move comes at a time when the demand for GPUs is soaring, driven by various industries including AI, gaming, and cryptocurrency mining.
Qtum’s AI Initiatives and Roadmap Qtum’s Quantum AI initiatives are poised to revolutionize the landscape of AI development. At the forefront of these initiatives is Qtum Solstice, a conversational chatbot akin to ChatGPT, powered by open-source models. Leveraging Qtum’s proof-of-stake system, the network boasts impressive transaction handling capabilities, with scalability potential through layer-1 and layer-2 solutions.
The roadmap for Qtum’s AI development encompasses a multi-stage rollout plan. Stage 1 focuses on the deployment of chatbots and image generation, paving the way for subsequent stages that will address modeling and decentralized economy layers. Qtum’s commitment to collaboration with the community and adherence to open-source principles are evident in its plans to offer up to 10 additional AI-related products.
Also Read: Bitcoin: Crypto Trader Bullish On BTC Amid Signs Of Recovery
Qtum’s Vision for AI and Blockchain Integration Miguel Palencia, in discussing Qtum’s vision for AI and blockchain integration, underscores the transformative potential of AI, drawing parallels with past disruptive technologies such as the internet and cryptocurrency. However, he also acknowledges the ethical considerations surrounding AI development and the importance of adopting open-source and decentralized approaches to mitigate risks.
Palencia emphasizes AI’s role as a tool for positive societal impact, stressing Qtum’s commitment to shaping a future where AI serves humanity. This forward-looking approach positions Qtum as a key player in driving innovation while upholding ethical standards and decentralized principles. In conclusion, Qtum’s integration of AI with blockchain technology signals its dedication to pioneering advancements that benefit both technology and society.
Bullish QTUM price prediction for 2025 is $4.921 to $15.097. Qtum (QTUM) price might reach $16 soon. Bearish QTUM price prediction for 2025 is $0.781. In this Qtum (QTUM) price prediction 2025, 2026-2030, we will analyze the price patterns of QTUM by using accurate trader-friendly technical analysis indicators and predict the future movement of the cryptocurrency.
TABLE OF CONTENTS
INTRODUCTION
Qtum (QTUM) Current Market StatusWhat is Qtum (QTUM)?Qtum (QTUM) 24H TechnicalsQtum (QTUM) PRICE PREDICTION 2025
Qtum (QTUM) Support and Resistance LevelsQtum (QTUM) Price Prediction 2025 — RVOL, MA, and RSIQtum (QTUM) Price Prediction 2025 — ADX, RVIComparison of QTM with BTC, ETHQtum (QTUM) PRICE PREDICTION 2026, 2027-2030CONCLUSIONFAQ Qtum (QTUM) Current Market Status Current Price $2.14 24 – Hour Price Change 4.52% Down 24 – Hour Trading Volume $88.69M Market Cap $226.39M Circulating Supply 105.71M QTUM All – Time High $106.88 ( On Jan 07, 2018) All – Time Low $0.77 (On March 13, 2020) QTUM Current Market Status (Source: CoinMarketCap) What is Qtum (QTUM)? TICKERQTUMBLOCKCHAINQtum CATEGORYPlatform token LAUNCHED ONMarch 2017UTILITIESGovernance, security, gas fees & rewards Qtum is a hybrid blockchain project that combines the best part of Bitcoin and Ethereum. It supports smart contracts on the Ethereum Virtual Machine. It uses Bitcoin’s UTXO model with a proof-of-stake consensus. It is known for its decentralized validation of transactions, which allows any individual to validate without particular “validators”.
Furthermore, the cryptocurrency launched in March 2017, runs on its own blockchain. The blockchain supports multiple token standards. In 2023, the prominent L1 ecosystem Tenet partnered with Qtum. However, recently, the project has not shown much activity until the recent day’s price surge.
Qtum (QTUM) 24H Technicals (Source: TradingView)
Qtum (QTUM) ranks 177nd on CoinMarketCap in terms of its market capitalization. The overview of the Qtum price prediction for 2025 is explained below with a daily time frame.
QTUM/USDT Horizontal Channel Pattern (Source: TradingView) In the above chart, Qtum (QTUM) laid out a horizontal channel pattern also known as the sideways trend. In general, the horizontal channel is formed during the price consolidation. In this pattern, the upper trendline, the line which connects the highs, and the lower trendline, the line which connects the lows, run horizontally parallel and the price action is contained within it.
A horizontal channel is often regarded as one of the suitable patterns for timing the market as the buying and selling points are in consolidation.
At the time of analysis, the price of Qtum (QTUM) was recorded at $2.14. If the pattern trend continues, then the price of QTUM might reach the resistance levels of $3.427, $5.869, and $17.216. If the trend reverses, then the price of QTUM may fall to the support of $1.992.
Qtum (QTUM) Resistance and Support Levels The chart given below elucidates the possible resistance and support levels of Qtum (QTUM) in 2025.
QTUM/USDT Resistance and Support Levels (Source: TradingView) From the above chart, we can analyze and identify the following as the resistance and support levels of Qtum (QTUM) for 2025.
Resistance Level 1$4.921Resistance Level 2$15.097Support Level 1$1.837Support Level 2$0.781QTUM Resistance & Support Levels Qtum (QTUM) Price Prediction 2025 — RVOL, MA, and RSI The technical analysis indicators such as Relative Volume (RVOL), Moving Average (MA), and Relative Strength Index (RSI) of Qtum (QTUM) are shown in the chart below.
From the readings on the chart above, we can make the following inferences regarding the current Qtum (QTUM) market in 2025.
INDICATORPURPOSEREADINGINFERENCE50-Day Moving Average (50MA)Nature of the current trend by comparing the average price over 50 days50 MA = $3.177
Price = $3.302
(50MA < Price)Bullish/Uptrend Relative Strength Index (RSI)Magnitude of price change;Analyzing oversold & overbought conditions52.552
<30 = Oversold
50-70 = Neutral
>70 = OverboughtNeutral Relative Volume (RVOL)Asset’s trading volume in relation to its recent average volumesBelow cutoff lineWeak Volume Qtum (QTUM) Price Prediction 2025 — ADX, RVI In the below chart, we analyze the strength and volatility of Qtum (QTUM) using the following technical analysis indicators — Average Directional Index (ADX) and Relative Volatility Index (RVI).
From the readings on the chart above, we can make the following inferences regarding the price momentum of Qtum (QTUM).
INDICATORPURPOSEREADINGINFERENCEAverage Directional Index (ADX)Strength of the trend momentum30.949Strong TrendRelative Volatility Index (RVI)Volatility over a specific period63.89<50 = Low
>50 = High
High Volatility Comparison of QTUM with BTC, ETH Let us now compare the price movements of Qtum (QTUM) with that of Bitcoin (BTC), and Ethereum (ETH).
BTC Vs ETH Vs QTUM Price Comparison (Source: TradingView) From the above chart, we can interpret that the price action of QTUM is similar to that of BTC and ETH. That is, when the price of BTC and ETH increases or decreases, the price of QTUM also increases or decreases respectively.
Qtum (QTUM) Price Prediction 2026, 2027 – 2030 With the help of the aforementioned technical analysis indicators and trend patterns, let us predict the price of Qtum (QTUM) between 2026, 2027, 2028, 2029 and 2030.
Year Bullish Price Bearish PriceQtum (QTUM) Price Prediction 2026$17$0.6Qtum (QTUM) Price Prediction 2027$18$0.5Qtum (QTUM) Price Prediction 2028$19$0.4Qtum (QTUM) Price Prediction 2029$20$0.3Qtum (QTUM) Price Prediction 2030$21$0.2 Conclusion If Qtum (QTUM) establishes itself as a good investment in 2025, this year would be favorable to the cryptocurrency. In conclusion, the bullish Qtum (QTUM) price prediction for 2025 is $15.097. Comparatively, the bearish Qtum (QTUM) price prediction for 2025 is $0.781.
If there is a positive elevation in the market momentum and investors’ sentiment, then Qtum (QTUM) might hit $16. Furthermore, with future upgrades and advancements in the Qtum ecosystem, QTUM might surpass its current all-time high (ATH) of $106.88 and mark its new ATH.
FAQ 1. What is Qtum (QTUM)? Qtum (QTUM) is the cryptocurrency of the hybrid blockchain project, Qtum. This project combines the best of Bitcoin and Ethereum blockchains to support smart contracts on the Ethereum Virtual Machine.
2. Where can you buy Qtum (QTUM)? Traders can trade Qtum (QTUM) on the following cryptocurrency exchanges such as Binance, Huobi Global, HBTC and Hydax Exchange .
3. Will Qtum (QTUM) record a new ATH soon? With the ongoing developments and upgrades within the Qtum platform, Qtum (QTUM) has a high possibility of reaching its ATH soon.
4. What is the current all-time high (ATH) of Qtum (QTUM)? Qtum (QTUM) hit its current all-time high (ATH) of $106.88 (On Jan 07, 2018).
5. What is the lowest price of Qtum (QTUM)? According to CoinMarketCap, QTUM hit its all-time low (ATL) of $0.77 on March 13, 2020.
6. Will Qtum (QTUM) hit $16? If Qtum (QTUM) becomes one of the active cryptocurrencies that majorly maintain a bullish trend, it might rally to hit $16 soon.
7. What will be the Qtum (QTUM) price by 2026? Qtum (QTUM) price might reach $17 by 2026.
8. What will be the Qtum (QTUM) price by 2027? Qtum (QTUM) price might reach $18 by 2027.
9. What will be the Qtum (QTUM) price by 2028? Qtum (QTUM) price might reach $19 by 2028.
10. What will be the Qtum (QTUM) price by 2029? Qtum (QTUM) price might reach $20 by 2029.
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Disclaimer: The opinion expressed in this chart is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.
The Qtum Foundation today announced the release of Qtum Ally, a new AI agent designed to advance beyond conversational bots into customizable automation tools.
Ally stands out in the crowded AI landscape by offering a focus on user control, privacy, and desktop-native execution, powered by the industry-standard Model Context Protocol (MCP). Ally gives access to 12 different LLM’s in one application, and allows the user to create powerful agents with integrated MCP servers. Users can also load their own custom models. This entire package is contained in one installable application available for Windows and Mac users.
According to Qtum Co-Founder Miguel Palencia: “With Qtum Ally, productivity isn’t about more tools, it’s about smarter orchestration. By unifying services and coordinating multiple LLM’s with MCP, we put everything at your fingertips in a single refined workspace. I challenged our team to remove the clutter and deliver compounding efficiency; Qtum Ally is the result.”
Building Powerful AI Agents with Built-in Model Context Protocol (MCP) ServersQtum Ally is built to support Model Context Protocol (MCP), which is crucial for enabling AI to do things, not just answer questions. Think of MCP as the “USB-C of AI,” providing a universal interface for AI systems to integrate and share data with external tools and services.
Ally is implemented as an MCP host, designed to help users efficiently combine two or more tasks and manage them with minimal input. Unlike complex systems that required coding experience in the past, Ally enables users to:
• Automate real tasks and go beyond mere chat.
• Manage multi-step workflows.
• Utilize LLMs (like ChatGPT or DeepSeek) to use logic to control and make the MCP hosts work together, allowing the automation of practically anything you can think of. For example, Ally can find specific properties for rent, create a list, and even build the results into a PowerPoint presentation and then e-mail you the results through a series of MCP servers.
• Qtum Ally is configured to work with MCP servers and hosts, and it comes bundled with a series of MCP hosts already pre-installed, allowing users to easily add new ones themselves. These lightweight MCP servers expose specific capabilities, connecting to local or remote data sources, databases, or APIs.
Desktop Native: Control, Privacy, and PerformanceQtum Ally is released as an installed application for Windows and Mac, designed to run natively on your desktop. This offers an alternative to many remotely hosted products:
• Users can run Ally on their own system for more privacy and control.
• Qtum Ally’s design adheres to the broader Qtum vision that aims not to collect personal data. It does not collect personal information above and beyond what is already being collected by the large language models themselves.
Unlocking Premium AI Access for FreeAlly is not only free, but it also provides exceptional value by offering a collection of AI utilities supporting various LLM models including Qwen, DeepSeek, Claude, and Gemini.
For a limited period, users of Qtum Ally can access the functionality of the latest paid features from top LLMs. This includes free access to the paid portion of ChatGPT 5.
Qtum Ally can be downloaded and installed directly from the official Qtum Github repository.
About QtumLaunched in September 2017, the Qtum blockchain is a smart contract platform that blends the best parts of Bitcoin and Ethereum. The blockchain is secured by the Proof-of-Stake consensus mechanism, and is completely decentralized. Qtum is listed on most major exchanges, including Binance, Kraken, Upbit, OKex, Huobi, etc.
Qtum has released nearly 50 software updates since launch, while including all major updates from Bitcoin and Ethereum. In March 2024, Qtum acquired a GPU farm with thousands of Nvidia cards to begin AI development. Qtum Ally is the latest release from the AI initiative, with plans to integrate the Qtum blockchain token into Ally in the near future.
For more information about Qtum’s AI plans, please visit https://qtum.ai or to download Qtum Ally click here: https://github.com/qtumproject/ai-agent/releases/tag/v0.0.6
China’s Center for Information Industry Developed Research Institute’s monthly crypto rankings have always been viewed as an oddity, given that the CCID is controlled by the Ministry of Industry and Information Technology in a country notoriously scathing toward cryptocurrency.
But since President Xi Jinping’s recent address at the Politburo claiming that “We must take blockchain as an important breakthrough for independent innovation of core technologies. Clarify the main directions, increase investment, focus on a number of key technologies, and accelerate the development of blockchain and industrial innovation,” the rankings potentially warrant more respect.
With the Chinese government announcing its intention to be at the epicenter of blockchain technology development, cryptocurrency markets went into overdrive, with Bitcoin seeing over 30 percent gains within ten hours.
Whether the Chinese government actually warms to the decentralized cryptocurrencies its citizens have long been enamored of remains to be seen. In the meantime, the news was widely viewed as a positive sign for the markets.
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Are the CCID Research Institute Rankings Suddenly Relevant Again? The newfound enthusiasm for blockchain in the CCP, also indicated in recent news of a pending state-run digital currency, drags the CCID’s rankings back into view. Its latest edition has just been released.
Assessed in terms of technology, applicability (capability of being applied to solve problems), and creativity (how unique the blockchain is in its approach to solving problems), EOS has consistently ranked first since the organization began publishing its rankings in May of 2018.
The 14th index shows some notable movements since its last report. TRON overtook Ethereum in second place, though only by the skin of its teeth. Lisk is up seven places to seventh and Qtum surged ten places to eighth.
Ontology is down seven places to fourteenth and Cosmos fell twelve places, from tenth to 22nd. GXChain fell precipitously, falling out of the top five in favor of BitShares. The top five now reads EOS, TRON, Ethereum, NULS, BitShares.
NANO on the Rise NANO enjoyed a rise from 22 to 13, finding a place back in the spotlight it lost during the early 2018 BitGrail debacle, from which it has since struggled to recover. As reported recently by Crypto Briefing, NANO is playing a substantial role in the ecosystem of Softbank-backed payments processor Wirex, an FCA-licensed company based in the U.K.
At a recent NANO meetup in London, Wirex’s CEO Pavel Matveev said the company was keen to continue its relationship with the crypto formerly known as RaiBlocks. A Wirex blog post also spared no compliments in describing Nano, calling it “a next-generation cryptocurrency with great potential.”
With an opaque ranking system, the CCID results will likely remain a curiosity for some time. However, the CCP’s apparent newfound fondness for blockchain technology means it is warranted for the community to put blatant skepticism over their rankings on hold for at least an interim period.
Disclosure: This article was edited by Paul de Havilland. For more information on how we create and review content, see our Editorial Policy.
Crypto exchange giant Binance today announced the launch of its staking platform. Binance will issue monthly rewards and distributions to those holding certain tokens on its platform.
Customers will receive rewards for staking tokens for the following projects: NEO, Ontology (ONT), VeChain (VTHO), Stellar (XLM), Komodo (KMD), Algorand (ALGO), Qtum (QTUM), and Stratis (STRAT).
Staking rewards are essentially just rewards for HODLing your crypto in a Binance wallet. Crypto rewards will take the form of, er, more crypto—a little like interest in a bank account. This gives Binancians an incentive to hold their funds in Binance.
For staking, there will be no minimum staking amounts or time lengths, and users won’t have to set up any nodes. Come October 1, Binance will take a snapshot of the network every hour to calculate a snapshot of each day.
There are, however, “holding” amounts. To start receiving staking rewards on Algorand, for instance, you’d need to hold 2 ALGO. Luckily, the price of the ALGO has tanked, so that’s only around $0.34.
Tezos is notably absent from the launch. Binance’s CEO Changpeng Zhao hinted that users could earn rewards for staking Tezos earlier this week. A user asked CZ if Binance would offer staking rewards for Tezos, and the cryptic crypto CEO replied with a single laughing emoji.
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The value of the cryptocurrency Tezos rose by 26 percent last night, the slow-burning result of Coinbase’s announcement that it would reward customers for "staking" the cryptocurrency on its platform. But what does that actually mean?
In practice, staking allows customers to earn what is essentially interest on any cryptocurrency they hold, rewarding HODLers with a stream of passive income. Coinbase’s estimated annual return for users staking Tezos is 5 percent.
To earn rewards, customers must first stake Tezos for around 35-40 days, after which they will start to be rewarded with interest every three days.
Tezos is a proof-of-stake coin, meaning it has no miners. Instead, those who verify transactions stake coins on the validity of the transaction to help keep things running smoothly. Those who stake the coin have the chance to generate new Tezos, and provide the liquidity that underpins the network. Previously, Tezos users had to set up a “baker”—the proof-of-stake equivalent of a “miner”, to earn rewards. This was a relatively complicated process, requiring specialist knowledge.
On Coinbase, staking rewards are issued automatically, and customers do not have to take any further action to enter into the program. “This makes earning staking rewards much easier,” Nic Carter, a partner at Castle Island Ventures tells Decrypt.
Tezos, which is similar to Ethereum and allows distributed applications to be built on its blockchain, was started in 2014 by Kathleen and Arthur Breitman, a married couple who had significant fintech experience on Wall Street and beyond. The company raised $232 million in a 2017 ICO in Switzerland—which was a record fundraise at the time. In a long feature about the internecine struggles of the young company, "Inside the Crypto World's Biggest Scandal," Wired said that "the name 'tezos' became crypto-world shorthand for ICO avarice."
The company has since recovered from its governance crisis.
Interestingly, though Coinbase announced the Tezos staking program late morning California time, it didn’t start to surge until around 7:30PM PST. Then it took off like a rocket as traders raced to get in on the action. Carter said he couldn’t find any specific reason that the price jumped so dramatically so late in the day.
“Markets aren’t particularly good at incorporating information,” he said. That's particularly true in the crypto market, which Carter says is especially slow to respond to news.
For Coinbase, encouraging staking of Tezos could supply its exchange with a steady stream of the coin, adding liquidity to its exchange. This is helpful for the exchange, which Carter says is transitioning to being the equivalent of a “crypto native bank with a full custody offering.” Carter says the announcement is “a good incentive to have retail owners of Tezos deposit them with Coinbase.”
(We reached out to Coinbase and Tezos to understand more about the deal and will update the article when we have more information.)
Coinbase’s announcement follows rival cryptocurrency exchange Binance, who launched its own staking platform last month. It supported the following eight cryptocurrencies: NEO (NEO/GAS), Ontology (ONT/ONG), Vechain (VET/VTHO), Stellar (XLM), Komodo (KMD), Algorand (ALGO), Qtum (QTUM), & Stratis (STRAT). Stellar staking has finished, but several more pairings have been added: TRON, Elrond, Fetch.ai, and ONE.
Binance’s CEO, Changpeng Zhao has previously hinted at Binance’s future support for Tezos staking.
Of course, though stakers might be consistently rewarded with 5 percent of the coin’s value—the value of the individual coin is still subject to fluctuation. Binance estimates that staking Algorand, for example, will yield over 15 percent, but Algorand is a more volatile cryptocurrency. The Algo, worth $0.26—down from highs of $3.28 in June—has netted investors minus 92 percent in returns.
And, as Carter tells Decrypt, staking comes with risks: staking funds on Coinbase requires customers to keep funds on Coinbase. If the exchange—or the customer—gets hacked, then they could lose their Tezos.
Additionally, Carter says that staking on large exchanges means that “Coinbase and other exchanges will come to own a huge fraction of supply for these staked coins.” This, says Carter, is a potential risk: “the security model ultimately could degenerate into a few large custodial institutions signing blocks.”
Crypto analyst Eric Wall echoed Carter's caution: “I'd keep a worried eye on this. It's about time Proof-of-Stake really gets battle-tested in the context of a fully matured industry. We’ll soon see which tools and services become popular—then we can work out which threats are the most concerning, the same way we've done for Proof-of-Work.”
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Qtum is a project that has been around for some time now. It is also one of the most interesting cryptocurrency to come out of China in the past 3 years.
Originally built to be an "Etheruem Killer", Qtum has been through its own share of ups and downs. However, given the renewed push for blockchain adoption in China, many are turning to projects like this again.
So, does QTUM have the legs to manage the run?
In this QTUM review, I will attempt to answer that with an in-depth overview. I will also take a look at the long term use cases, adoption and price potential of the QTUM tokens.
What is QTUM?Qtum (pronounced ‘Quantum’) is an interesting blockchain project that’s been in existence since 2016 and was created as a fork of the Bitcoin core combined with Ethereum’s Virtual Machine (EVM).
The resulting blockchain provides us with the best of both Bitcoin and Ethereum, and does it by bridging the gap between the two technologies with a third layer that the Qtum developers have named the “Account Abstract Layer.”
Image via QTUM
Qtum was created with these three layers in order to serve business users best by combining the Unspent Transaction Output (UTXO) model of bitcoin with the decentralized application (dApp) capabilities of Ethereum. It then wraps them all up in a Proof-of-Stake (PoS) consensus to avoid the huge energy requirements of the Proof-of-Work (PoW) model.
The use of the Ethereum VM gives Qtum a proven and stable development and dApp environment but also brings along the known security and throughput capacity issues.
Qtum solved these Ethereum issues by combining the Bitcoin chain, which is famous for its security. Qtum then adds more services, including a native wallet, a smart contract management application, and oracles that allow off-chain data to be used.
Qtum TechnologyAs mentioned earlier, Qtum was developed with three separate layers; a fork of the Bitcoin core chain, Ethereum’s Virtual Machine, and the Account Abstraction Layer, which bridges the two technologies and is Qtum’s proprietary development.
Because Qtum uses the EVM it allows for the development of dApps and it can take advantage of Proof-of-Stake as its consensus mechanism, thus getting rid of the need for miners and the huge resource requirements of the Proof-of-Work consensus.
This also means all QTUM tokens are already in existence, having been created at the genesis of the blockchain. Qtum is also able to take advantage of smart contracts thanks to the inclusion of the EVM.
The QTUM Network Architecture
The inclusion of the Bitcoin core chain gives Qtum its solid security foundation through the use of the Unspent Transaction Output (UTXO) model that prevents fraud on the blockchain. It’s this UTXO model brought over from Bitcoin that guarantees transactions cannot be recorded twice. The UTXO model is the basis of Qtum’s security layer.
Because Qtum includes two different blockchains there needs to be a way for the two to communicate with each other. That’s where the Account Abstraction Layer comes in. It functions to convert Bitcoin’s unspent transaction outputs into an “account balance” model, which is what Ethereum uses. This lets the two chains communicate regarding transactions and account balances.
Because Qtum also uses the EVM third-parties are able to create new tokens easily, and it is even possible to automate the management of supply chains. Because Qtum uses a standardized ecosystem it is able to offer tools to create contracts that are both machine and human-readable, and it makes smart contracts both more flexible and less prone to errors.
Key ServicesQtum has also added several key services that make it an ideal blockchain for business use. Below are descriptions of these three key services:
OraclesQtum has created oracles that allow trusted external third-parties to supply data and make off-chain calculations, as well as assisting in computations and monitoring the smart contracts on the blockchain. These oracles generate an additional trust layer and make the security for smart contracts stronger.
Mobile ApplicationsQtum has also provided for the management of smart contracts from mobile devices. This is something that was once impossible and remains extremely difficult, but Qtum accomplishes it through its use of light clients.
The QTUM Mobile Client for Smart Contract Execution
Using this model Qtum is able to run nodes that do not keep a full blockchain history, allowing them to participate on the blockchain by storing only the most recent and relevant transactions.
This is paired with the use of Bitcoin’s Simple Payment Verification (SPV), which allows a wallet to confirm its transactions without needing to verify its full contents. This model greatly increases transaction speeds for devices with minimal computational resources, such as mobile devices.
The QTUM WalletQtum provides a native wallet for users, which isn’t unique by itself, but Qtum has added some unique functionality to its native wallet. The wallet was created to be fully mobile and able to directly interact with the smart contracts on the Qtum chain.
Qtum UnitaIn April 2019 Qtum improved further on its blockchain solution by adding a new feature to increase enterprise adoption. The new version of Qtum was dubbed Unita and it utilizes a scalable consensus algorithm (SCAR) that is built atop Qtum’s other existing solutions.
This new SCAR will save considerable network resources such as disk space and bandwidth while creating a fully-automated data storage and transfer protocol that can handle up to 10,000 transactions per second.
Advantages of SCAR Algorithm. Image via QTUM Blog
The new Unita can be deployed with just one click and also features data management and cross-chain trading, plus other features that will permit enterprise users to process millions of daily transactions. Qtum said businesses will be able to safely store private data on a permissioned Unita chain, and transfer data as necessary to the public network.
The Qtum TeamQtum was founded by Patrick Dai, who was an employee at Alibaba when he discovered blockchain technology and became an early adopter and enthusiast of the technology.
Joining him are three dozen other blockchain enthusiasts, including some world-class developers who have come to Qtum with decades of experience in a variety of different sectors.
The team includes a strong group of technology professionals with backgrounds ranging from cybersecurity and telecommunications to full-stack development and blockchain expertise.
The QTUM Team Members. Image via QTUM.org
Qtum also has a large and experienced group of angel investors and specialists in the capital markets, all of whom have placed their faith, and financial backing, with Qtum. These include Roger Ver, the CEO of Bitcoin.com, and Xu Star, the CEO at OKCoin.
Rounding out the backers is Anthony Di Iorio, the co-founder of Ethereum and CEO at Jaxx Wallet, and Jeffrey Wernick, a veteran of the financial markets with over forty years of trading experience.
Qtum PartnershipsOne of the reasons for Qtum’s success to date has been its aggressive moves to partner with major companies, both inside the blockchain space, and within traditional business sectors.
These partnerships have been developed over time, and one of the first major partnerships came in April 2018, when they partnered with the Energo Foundation, a clean energy producer in the Philippines. Energo is using the Qtum blockchain technology yo develop better settlement systems, registrations, and measurements for the local microgrids throughout the Philippines.
Just a few months later in June 2018, Qtum announced a partnership with Qihu360, China’s largest public software company and a specialist in the field of internet security. At the same time, Qtum partnered with another of China’s software leaders, Baofeng.
Some of the Partnerships of QTUM
That partnership is also meant to help Qtum gain 50,000 nodes as well as help developing tools for content distribution and copyright protection. While they’re nowhere near the 50,000 node goal, Qtum does have more nodes than any other blockchain with the exception of Bitcoin and Ethereum. Besides partnering with Qtum, Qihu360 is also helping with blockchain research and the development of decentralized applications.
The following month Qtum announced a partnership with the Celer Network, which was done to integrate the Celer Network’s scalability solutions, giving Qtum faster and more flexible services for the development community.
Qtum also launched on Amazon Web Services the same month, making it easier for businesses already using AWS to migrate to a blockchain solution and build dApps for their operations.
As a relatively mature blockchain project, one would expect to see a large and well-developed community around Qtum, and based on the social media stats you won’t be disappointed. The Twitter following of Qtum is huge, with 181,000 followers. The Facebook following is also pretty large for a blockchain project, with almost 12,000 followers.
The Range of Social Networks for the QTUM Community
As you probably know, Reddit is a popular social network for blockchain enthusiasts, and Qtum is popular over there too, with more than 15,000 followers of the Qtum subreddit. That said, there are some days with no posts, and the number of comments on most Reddit posts is modest.
The Telegram group is approaching 8,000 subscribers, and Qtum also has a presence on Weibo for Chinese speakers. Overall it is a fairly large following, which certainly helps with the spread of information about the project, particularly when they launch something new.
The QTUM TokenThe QTUM token is a utility token that is used to access services and make them available to businesses and developers on the Qtum blockchain. This not only includes executing smart contract transactions, but also includes building and provisioning dApps, and executing code. Like most cryptocurrencies, the QTUM token gains value from its use and the overall demand for the token.
Based on the white paper the distribution of QTUM is planned as follows:
80% of the total supply is planned to be distributed to the Qtum community, while the remaining 20% is being earmarked for distribution to the founder, development team, and early backers of the project. Qtum conducted a successful ICO from March 12 through March 17, 2017, raising $15 million by selling QTUM tokens at a price of $0.3000 each.
QTUM Price HistoryFollowing the ICO the price jumped over $5 and continued trading higher, remaining in a range of $5 to $20 until exploding in December 2017. By January 7, 2018 the price reached its all-time high of $106.88, but just several days later the price was already cut in half. It continued dropping until bottoming at $1.69 on December 10, 2018.
QTUM Price Performance. Image via CMC
The first half of 2019 saw price rebound, but the strength of the token faded in the second half of 2019, and on September 24, 2019 it hit an all-time low of $1.47. Since then the price has recovered somewhat and as of November 26, 2019 the price of one QTUM is $1.67.
Buying & Storing QTUMSince QTUM cannot be mined, those who are interested in obtaining or accumulating QTUM will need to begin by purchasing it from an exchange. QTUM is available from a number of exchanges, but cannot be purchased with fiat currency.
Most exchanges are selling it for USDT, BTC, or ETH, although the largest exchange volume is at Cat.Ex, where QTUM is paired with TRX. There is also a good amount of trading volume at IDCM, LBank, and to a lesser extent Binance and Exrates. QTUM is also listed on dozens of other exchanges, but there is very little trading volume at any of them.
Register at Binance and Buy QTUM Tokens
Many users choose to store their QTUM in the native QTUM wallet so that they can take advantage of the added features. Those who are more interested in security will be happy to know that both the Ledger and Trezor hardware wallets have support for QTUM.
There are also a number of third party web, mobile and desktop wallets offering QTUM support. These include the Jaxx Liberty wallet and the Atomic Wallet.
Development & RoadmapSo, how much work have the QTUM team been doing on their protocol? Well, perhaps one of the best ways to get a sense of this output is through their open source code repositories.
Hence, I decided to dive into the QTUM GitHub and take a look at their code commits which is the best barometer for raw output. Below are the commits to the top three most active repos over the past 12 months.
Commits to Select Repos over Past Year
As you can see, there has been quite a lot of development by the team. This is more development work than we have seen at a number of other projects at similar stages in their lifecycle. It is also worth noting that there are over 100 other repos although these have less commits than this.
In fact, if we were to compare the extent of coding activity at QTUM to those of other projects, it ranks quite favourably. For example, on CoinCodeCap, QTUM comes in at number 28 in terms of commits and number 34 for total activity.
Indeed all of this development progress makes sense when viewed in conjunction with the broader roadmap of the project. By the end of Q4 this year, they should have completed Mainnet integration of the x85 VM. They would also have published the first set of trusted library contracts on the mainnet. Finally, they are scheduled for an x86 hard fork as well as a support for new Byzantium op codes.
If you want to keep up to date with the development progress then the team is quite disciplined by posting on their official blog. They also keep their community updated through many of the mediums that I mentioned above.
ConclusionQtum is an interesting project that combines the best of the Bitcoin and Ethereum chains and focuses on a light-weight blockchain more suitable to mobile-usage. Bitcoin gives it security and value transfer capabilities, while Ethereum gives it smart contracts and decentralized applications. The combination makes Qtum very valuable for enterprise users, and the success of Qtum has been fueled by these features.
As the first Proof-of-Stake blockchain we know the Qtum team is innovative. The large and growing partnerships show the team’s ability to seek out and secure valuable relationships both within and without the blockchain ecosystem. And the combination of Bitcoin and Ethereum makes Qtum attractive to developers who are looking to move on from those popular platforms.
Taken all together Qtum has positioned itself well for success, living up to the promise of delivering the best of both Bitcoin and Ethereum, and expanding even further on the combination with its x86 virtual machine and the Utica scalable consensus algorithm.
It’s easy to imagine greater things for Qtum as blockchain moves further into the mainstream.
Tron, a blockchain-based decentralized platform just announced its partnership with a digital payment processing app called Metal Pay.
The resulting collaboration will allow US citizens to instantly acquire Tron (TRX) through the Metal Pay app through credit or debit card payments, providing a fiat-to-crypto on-ramp to TRX in the United States. On the other hand, Metal Pay also has its own native token— Metal (MTL) which it offers as a reward token to users who transact on the platform.
The development is one of a series of recent partnership efforts by the Tron Foundation and its CEO Justin Sun to improve TRX adoption in the US—helping to make cryptocurrencies more accessible to those without a detailed understanding of the industry.
Significance of the Partnership
Tron and Metal Pay can be considered established, but growing platforms in the cryptocurrency space, since both projects were launched in 2017.
Both Tron and Metal Pay launched in an industry dominated by major players that had been operating for several years already—as such, the odds were not in their favor to succeed. For example, Tron’s biggest competitors included blockchain giants like Ethereum, Cardano, Qtum and more, whereas Metal Pay was up against payment processing giants, including Square, Venmo and Payoneer.
Few people know just how easy it is to send cryptocurrency to friends.
On Metal Pay, you never pay a fee for sending crypto to another Metal Pay user.
No need to type in a messy wallet address - just tap a contact and you’re good to go.
Crypto was always meant to be this easy.
— Metal Pay (@metalpaysme) March 14, 2020However, despite the competition, both Tron and Metal Pay have risen up to become successful platforms in their own rights, by offering a range of features that appeal to practically everyone. On one hand, Tron offers a free content sharing platform that can be leveraged by anyone, anywhere, while Metal Pay makes sending payments more rewarding by providing up to 5% rewards on eligible transactions.
This partnership signifies the rising tide of blockchain-based projects and their entry into traditional finance, by allowing Metal Pay customers to easily purchase and sell TRX (and 26 other cryptocurrencies), and transfer it to their friends and family just as easily as sending a text message.
The Tron Foundation Presses Forward
As previously mentioned, this partnership is just one of many recent partnerships and collaborative efforts made by the Tron Foundation, the organization behind the development of the Tron ecosystem.
In the last year alone, Tron has formed partnerships with several major projects and platforms—all with the goal of ushering in the mass adoption of cryptocurrencies, including TRX in particular.
One of the most notable recent efforts made by Tron include its recent arrangement with Samsung, which saw TRX integrated into Samsung’s proprietary Blockchain Keystore wallet—thereby allowing Samsung users to easily store their TRX private keys within a secure vault-like environment on their mobile device.
Another prominent partnership was announced by Poloniex back in November, a popular US-based crypto trading platform which recently listed TRX to its retail trading platform. This resulted in TRX being listed on the exchange against several other established cryptocurrencies, including Bitcoin (BTC), Tether (USDT) and USD Coin (USDC). Poloniex also acquired Tron’s decentralized exchange platform TRXMarkets after being spun out from parent company Circle.
Tron has also been heavily featured by online gaming platforms and casinos such as Sportsbet and Bitcasino, courtesy of its partnership with the Coingaming Group.
It was an honor meeting the legendary Woz, @Apple co-founder! Looking forward to our partnership! https://t.co/Y1faA9UCcy
— Justin Sun (@justinsuntron) January 22, 2020Although these achievements are already impressive enough, they might just be the tip of the iceberg compared to what comes next. According to a recent tweet by the CEO of Tron, a partnership with Steve Wozniak might be in the works. Widely regarded as one of the modern pioneers of personal computing, onboarding Wozniak or forming an arrangement with him could be a strong indicator of further success—after all, look how Apple turned out.
All-in-all, the staggering rate at which Tron has made acquisitions, gotten listed on major exchanges and ramped up its presence in the US is a good part of the reason why it’s currently one of the largest blockchain platforms in existence, and the second most popular blockchain for decentralized application (dApps).
After the events of last week, news from China keeps on coming. After China’s president, Xi Jinping, urged the country to increase its usage of blockchain technology, crypto prices have gone through the roof. The overall cryptocurrency market experienced a significant uptick initially, but that wasn’t enough for Chinese projects, as some have continued to surge by the hour.
Chinese Crypto Projects to the Moon Friday was a day filled with optimism in the crypto market. The president of China made an announcement that appears to have had a huge impact on the industry. According to Xi Jinping, the country should invest more in blockchain tech in light of its “critical role in technology innovations and industrial revolutions”.
The community was quick to react, and gains were had all over the place, especially for China-based projects. While most altcoins are surging against the USD but falling against Bitcoin, NEO, Ontology, Qtum, Bytom, GXChain are all skyrocketing at the moment.
Bytom’s rise is the most notable one as of now, having increased more than 75% against BTC and 85% against the US dollar.
BTM/BTC Bittrex. Source: TradingView Ontology has risen 40% against BTC and 45.5% against the dollar.
ONT/BTC Binance. Source: TradingView NEO is trading at $11.71, having risen 35% against the dollar and 27% against BTC.
NEO/BTC Binance. Source: TradingView As impressive as these surges are, these projects’ all time highs are even higher. Bytom’s current price ($0.143) is down 85% from its ATH of $1.17. Similarly, ONT is down 90% from $10 to $0.95, and NEO has fallen 94% from its ATH of $196.
You may also like: Trump Heads to Beijing for High-Stakes Xi Summit: What It Means for Bitcoin Why Has Bitcoin Dumped 50% When Global Liquidity Has Increased? Chinese-Language Laundering Networks Now Dominate a Fifth of Global Illicit Crypto Flows Chinese Interest Picks Up Xi’s announcement regarding blockchain has had a significant impact in other areas as well. It’s still hard to say if that was the only reason for the substantial price surge, but it’s safe to assume that it played a role.
CryptoPotato reported earlier today on increased interest in blockchain and Bitcoin among the Chinese public. The China-based multi-purpose app WeChat showed a 1,200% increase for blockchain-related searches on the 25th of October. Also, a new cryptocurrency law is set to become active in the country starting next year.
Interestingly, the CEO of US-based Facebook last week urged his own country to invest more in blockchain, lest it fall behind other countries such as China.
Bitcoin went on one of its most impressive runs ever last week, surging over 42% in just a day. Not only did this make last week the best one Bitcoin has had since May, it also brought positive sentiment back to the market, which had previously been fairly bearish.
However, Bitcoin has since retraced and is currently trading at around $9,200. Interestingly enough, BTC flash crashed to slightly above $9,000 earlier today, but it managed to recover fairly quickly. At the time of this writing, Bitcoin is down about 2% on the day.
BTC/USD. Source: TradingView We also saw a very slight decrease in Bitcoin’s dominance rate, suggesting that altcoins have managed to capitalize somewhat on the flash crash. Indeed, all of the top 10 cryptocurrencies by market cap are trading in the green against BTC, having marked slight increases. ETH is up about 2%, the same as XRP. Bitcoin Cash is up about 3.6%, and all others have seen minor gains in the range of 0.5% – 1.5%.
Major Cryptocurrency Headlines Bitcoin Cash Spikes 10% as Jihan Wu Resumes Control of Bitmain. Jihan Wu, who stepped away from Bitmain’s operations at the beginning of this year, has since resumed control over the company, ousting the CEO, Ketuan Zhan. In an email to staff, Wu directed employees to not take any orders from Zhan or participate in meetings organized by him. Bitcoin Cash’s price rose by 10% on the news. Wu has previously expressed his support for the cryptocurrency, as Bitmain spent around 70% of its 2017 operating cash flow to buy BCH.
China’s CCIEE Chair: We Will Be the First to Launch Central Bank Digital Currency. The vice-chairman of China’s Center for International Economic Exchanges (CCIEE), Huang Qifan, maintained that the country will be the first to launch a blockchain-based central bank digital currency. He also said that he doesn’t believe in Facebook and its potential cryptocurrency, Libra. However, he feels that digital currencies of the kind are needed because conventional payment methods are outdated.
NEO and Other Made-in-China Cryptocurrencies See Huge Price Gains. The news from China sparked a rally throughout the cryptocurrency market. However, China-based projects saw particularly impressive gains. Bytom, NEO, Ontology, Qtum, and GXChain were among the more notable gainers.
You may also like: Bitcoin Price Crashes Below $60K as Strategy’s MSTR Plunges 10% Mining Profits Dry Up Across Bitcoin, DOGE, LTC, and BCH Bitcoin’s Network Is Booming Even as Prices Remain Below Record Highs The Biggest Winners and Losers NoahCoin (+1177%) NoahCoin rallied hard, surging upwards of 1,100% in less than a day. The project recently announced that users could swap their tokens for native ones. Given that this update was made around a month ago, however, there is no apparent reason for the recent surge. In any case, NoahCoin is currently trading at around $0.004, which is a staggering increase compared to its price a day ago when it was only $0.00028.
IOST (+31%) IOST is another project which saw significant gains over the past 24 hours despite the seemingly stalling cryptocurrency market. Having increased by upwards of 30%, IOST is currently trading at around $0.0075. Interestingly enough, it surged even more against Bitcoin, gaining more than 35%. The project’s total market cap is now over $90 million.
Bytom (-10%) Bytom was one of the biggest gainers during last week’s rally, as mentioned above. The coin surged about 80% following the news out of China, but it has since cooled off and is actually down over the past 24 hours. BTM marked a decrease of around 10% and its price is currently around $0.11, though its total market cap remains well above $113 million. The cryptocurrency is also down around 7.5% against BTC.
A further $6 billion has been added to total crypto market capitalization over the past 24 hours and it is altcoins that are leading the gains. A big dose of Chinese FOMO boosted home grown projects there and Stellar’s coin burn is igniting them this morning, but are they destined to dump again?
Crypto Cap and Volume Rising Total market cap reached $253 billion a few hours ago which is the highest it has been for a week. The bigger picture shows more range bound trading but altcoins appear to be driving momentum at the moment.
Total market cap 24 hours – Coinmarketcap.com The chart also indicates that daily volume has climbed almost 30% since the beginning of the week as everything looks green at the moment. Trader ‘Paddy Stash’ has noted the increase in altcoin dominance over the past week as BTC failed to top 70% and has started to decline in terms of market share.
“Altcoin dominance has continued to climb back upwards since the big $Btc spike from $7.4 to over $10k last week.”
While the ‘China effect’ heavily influenced the prices of NEO, Tron, Qtum, VeChain, Bytom and other local blockchain platforms last week, others are getting a lift today.
ParallelCoin Pump and Dump Something called ParallelCoin is looking very spurious at the moment as CMC is reporting a 7,000% surge for DUO tokens. ‘Crypto Bitlord’ has called it a dangerous pump and dump scheme which should be avoided.
Another altcoin having a serious pump at the moment is Stellar as the Foundation just burnt 55 billion uncirculated XLM tokens. The crypto community is skeptical however and the 25% price pump has already started to fall off.
Stellar is currently priced at just over $0.08 and has knocked Tron back out of the top ten with a market cap of $1.6 billion. Ripple’s XRP got a related pump at the same time of just over 4% which takes the token back over $0.30 where it faces heavy resistance. This week’s Swell event could help XRP to break through that though.
Ethereum has made a small 2.5% move to hold above $185 at the moment while BCH remains flat at $290. Litecoin has made a solid 6% to break above $60 while EOS adds a similar amount to reach $3.45.
BSV and Cardano have gained over 5% a piece in the past few hours and Cosmos has cranked 12% as it reaches $3.80. The two Chinese altcoins VeChain and Qtum are also going strong today with 7% gained.
Bitcoin has made minor gains to reach resistance at $9,400 again but until it surges back into five figures the altcoins are unlikely to climb any higher. It is still likely that a dump will follow whatever gains altcoins have made today as altseason is still a long way away.
Binance exchange announced on Wednesday that it will delist certain crypto assets in BTC margin trading pairs. The changes affect Qtum and Venus margin trading, as well as, Contentos and Frax spot trading. Despite the delisting news, QTUM has risen 8% today and XVS is up 7.5% due to post-election market momentum fueled by Donald Trump’s victory.
Binance Delisting Notice for QTUM, XVS, COS, FXS Traders According to Binance’s official release, the exchange plans to delist QTUM and XVS from BTC margin trading pairs. This move is part of Binance’s strategy to streamline offerings and enhance platform efficiency. Starting November 7 at 06:00 UTC, isolated margin borrowing for QTUM/BTC and XVS/BTC will be suspended, with full delisting on November 14 at 06:00 UTC.
Positions in both cross and isolated margin pairs will close automatically, with all open orders canceled. To prevent losses, Binance advises users to close their positions early and transfer assets from Margin Wallets to Spot Wallets. This guidance aims to help users navigate the transition smoothly.
While QTUM and XVS are leaving BTC margin trading, both assets will remain available on other non-margin pairs. This keeps options open for users who want to continue trading these assets on Binance. The changes reflect Binance’s ongoing adjustments to meet shifting market demands.
In addition, Binance will delist spot trading pairs COS/BTC and FXS/BTC on November 8 at 03:00 UTC. This decision follows Binance’s routine evaluations to maintain a high-quality trading environment. Factors like low liquidity and trading volume often influence these choices.
Price Movements and Volume Trends Amid Delisting The recent U.S. election result, with Donald Trump’s victory, has fueled a surge in these coins, reflecting renewed market optimism.
QTUM price is trading at $2.32, witnessing an intraday low of $2.13 and high of $2.32. While QTUM has gained traction in the short term, it’s still down over 3% the past week and 5% over last month. Moreover, the trading volume in the last 24 hours is $31 million and a market cap around $244.5 million.
XVS is also riding the wave, trading at $6.70, with a low of $6.19 and high of $6.70 over the last 24 hours. Its trading volume reached $2.82 million, indicating strong recent interest. Meanwhile, COS trades at $0.0066, and FXS is priced at $1.818, each seeing notable growth today.
Almost all cryptocurrencies followed the same pattern as the top coin during this market crash. Altcoins like Bitcoin Diamond, Stellar, and Qtum were no different.
Stellar[XLM]
Stellar’s price has been suffering a major downtrend since Feb 14, as seen in the above chart. The XLM/BTC pair is also seeing a downward run to 0.00000641 BTC. The Chaikin Money Flow [CMF] indicator confirms the downtrend as the indicator is below the zero line at -0.17.
Bitcoin diamond went down to a low of $0.24 on March 13, but quickly recovered and rose by 137.91% percent reaching $0.56 on March 20. The Bollinger Bands, as seen in the chart, were contracting, indicating a decrease in volatility.
Resistance: $0.51 and $0.72
Support: $0.42 and $0.32
As seen in the above chart, the price of Qtum formed a symmetric triangle pattern. Additionally, MACD indicator also revealed a very negligible bullish crossover.
Resistance: If there’s an upward breakout, the price faces resistance at $1.3 and further at $1.43.
Support: If there’s a downward breakout, the price might find support at $1.02 and further down at $0.95.
The much-hyped alt season still seems to be a distant dream even though most alts are continuing to make minor gains towards recovering the losses they collectively incurred during the previous month’s massive price crash. Altcoins such as Stellar, Bitcoin Diamond and Qtum have seen their price surge up to 10 percent in less than a week’s time.
Stellar [XLM]
The Stellar Development Foundation [SDF] has been in the news for announcing that it plans to donate around $2.5 million as an aid to support efforts against the COVID-19 pandemic. Since the start of the month, Stellar has done fairly well and has seen its price go up by 6.5 percent. At press time, XLM had a trading price of $0.041 and a market cap of $848 million. If the bullish momentum were to sustain, the price of XLM could soon test resistance at $0.043. In case the price drops, there are two strong supports at $0.040 and $0.038.
MACD indicator has currently undergone a bullish crossover implying an upcoming price hike. The RSI indicator also shows bullish sentiment as it heads towards the overbought zone.
Bitcoin Diamond [BCD]
Bitcoin Diamond, over the past week, registered significant gains. BCD’s current price of $0.49 marks a 10 percent increase in less than 7 day’s time. At press time BCD had a market cap of $91 million and a 24-hour trading volume of $8 million. BCD’s price is likely to soon test support at $0.47 if a price correction were to occur. There is also another support at $0.44 and a key point of resistance at $0.53.
Bollinger Bands for BCD have contracted substantially and signal very little price volatility and its moving average is now proving support for the price. RSI indicator, however, has made a reversal and is now heading towards the oversold zone.
Qtum
In the past week, another big winner among the altcoins happens to be Qtum registering over a 10.5 percent increase in its price. Currently, Qtum has a trading price of $1.27 and if the price were to continue on this uptrend, it might not be long before the resistance at $1.31 is tested. There are also two important points of support at $1.24 and $1.92.
EMA ribbons have now gone below the price of the coin and are now providing support for the coin’s price. The Stochastic indicator, however, is now moving towards the oversold zone – a sign of bearishness.
