Track market-moving stories before they get noisy

Posted: March 30, 2020

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.

Resistance: $0.050, $0.05, $0.06, $0.07 and $0.08
Support: $0.035, $0.03
Price: $0.039524
Market Cap: $801,733,699
24-hour Volume Trade: $309,169,320

Bitcoin Diamond[BCD]

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

At press time:

Price: $0.449059
Market Cap: $83,746,326
24- hour Trading Volume: $6,071,134

Qtum

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.

At press time:

Price: $1.17
Market Cap: $114,715,215
24-hour Trading Volume: $351,550,785

Posted: April 3, 2020

Monacoin and Bitcoin Diamond are leading the way with respect to their relative performance against the likes of IOTA. With over 50% in gains over the last 90 days for both MONA and BCD, IOTA doesn’t even come close since its price change was recorded to be -11%.

Source TradingView

IOTA Perhaps, the aforementioned poor performance of IOTA was due to the attack on the Trinity wallet, an attack which resulted in the theft of 8.55 Ti in IOTA tokens from a total of 50 user accounts. However, since then, the coordinator has been rebooted.

IOTA, however, is higher in terms of market cap [$412 million] and ranking [24], when compared to BCD and MONA, despite the fact that the performances aren’t at par. With the formation of an ascending triangle and the MACD indicating a bullish crossover, hopefully, the token will register some profits.

Monacoin Monacoin is the 53rd largest crypto on CoinMarketCap with a market cap of $79 million and a 24-hour trading volume of $3.6 million. At press time, the price was $1.21 and the token was struggling to firmly breach the 200-DMA, a level which was acting as a resistance. The 50-DMA [light blue] was heading close, indicating further bearish pressure. The scenario, at press time, seemed bearish, with a confluence of resistance.

Bitcoin Diamond Bitcoin Diamond, a fork of Bitcoin, has been performing considerably better, especially as it started rising after the recent collapse. At press time, BCD was trading at $0.482 with a market cap of $89 million.

Stuck between $0.518 and $0.409, the coin was trying to be bullish. The RSI indicator also showed that it was struggling to reach the overbought zone. Over the next week, the price might try to breach $0.518 and head higher.

Posted: April 3, 2020

For altcoins, March and April told very different tales. While the former closed for most coins with significant losses, April seems to be a lot more favorable as coins such as EOS, Synthetix and Bitcoin Diamond have all recorded surges over the past few days.

EOS

After suffering from a 50 percent price drop, EOS was on the right path to recover its losses. Over the past 24-hours, EOS saw its value increase by close to 9 percent, with the token having a trading price of $2.33, at the time of writing.

EOS had a market cap of $2.1 billion and a 24-hour trading volume of $3.1 billion. If the uptrend were to last for EOS, the price would soon test the resistance at $2.45. However, if EOS were to record price correction, there are two points of support at $2.2 and $2.1.

According to the Bollinger Bands, EOS may see increased volatility as the bands were now beginning to expand. However, the moving average, at press time, was acting as a support for the price. The MACD indicator continued to show bullish momentum after having undergone a bullish crossover less than a day ago.

Synthetix [SNX]

Over the past month, Synthetix announced its plans to add derivatives trading on its platform in Q3 of 2020. In the past month, Synthetix has recovered much of its losses following the 12 March crash.

In the past 14 days, its price rose by over 40 percent. At press time, SNX was being traded at $0.675, with a market cap of $62 million. In sync with the altcoin trend over the past 24-hours, SNX surged by 8.9 percent.

At press time, SNX had a 24-hour trading volume of  $2.6 million. According to the coin’s previous price movements, SNX had two strong supports at $0.60 and $0.56, if the price were to give in to bearish pressure.

Bitcoin Diamond [BCD]

Bitcoin’s fork coin, Bitcoin Diamond, continued the trend as it saw its price rise by over 11 percent in the past 24-hours. BCD had a market cap of $92 million and a 24-hour trading volume of $8 million. At press time, Bitcoin Diamond was being traded at $0.50.

If the price were to continue to rise, the coin was likely to soon start testing the resistance at $0.56; there were also supports at $0.45 and $0.38, if a bearish scenario were to transpire.

The MACD indicator, after having undergone a bullish crossover, continued to register bullish momentum for the coin. The Stochastic indicator echoed a similar sentiment, with the token in the overbought zone, at the time of writing.

Posted: April 6, 2020

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.

The advent of Bitcoin, Ethereum, and other cryptocurrencies has introduced unprecedented ways to distribute new assets, creating complex tax situations. Here’s how to account for forks and airdrops, and a few strategies to minimize taxes.

There is little precedent when it comes to taxes around forks and airdrops.

“In the traditional world, nobody airdrops anything. The dollar doesn’t fork every Tuesday,” said Alon Muroch, CEO of crypto accounting platform Blox, in an interview with Crypto Briefing.

Ruling from other regulatory agencies adds to the complexity. By the letter of the law, many cryptocurrencies are not considered money, or commodities, but instead securities⁠—investments that represent a contract between a buyer and an enterprise.

“You should start with the assumption that you’re starting with a securities offering,” said SEC Chairman Jay Clayton. Failing this assumption, or misinterpreting the rule of tax law, has led to “a majority of companies filing incorrectly,” LukkaTax’s co-CEO, Robert Materazzi, told Crypto Briefing, who claims that most portfolio apps that link to a tax service are doing so incorrectly.

FinCEN has issued its own guidelines around money transmitter rules for cryptocurrency, treating crypto like cash for anti-money laundering purposes. Meanwhile, the Commodities Future Trading Commission treats Bitcoin as a commodity. The U.S. Internal Revenue Service treats it as property. Ethereum falls somewhere in the middle.

Between the regulators, it’s one confusing mess of three and four-letter acronyms giving mixed messages.

What Is a Blockchain Fork? A fork is a software change that creates two separate versions of the same blockchain. Most often, forks are used to introduce upgrades, where the old version of a blockchain is replaced by the new one as soon as the fork is executed.

Occasionally, however, forks are used to settle disagreements over technical features, like the block size debate that lead to Bitcoin Cash. Other times, it’s about governing philosophy, like in Ethereum Classic. Yet other times it’s about taking advantage of a brand name, like Bitcoin Diamond. They’re an integral part of what makes a decentralized blockchain, well, a blockchain.

Forks happen all the time. Since inception, Bitcoin alone has had over 50 forks.

To make matters worse, holders often aren’t aware that a fork has even taken place and many coins go unclaimed. Nevertheless, the IRS views forks as taxable events.

Understanding Token Airdrops Airdrops are another situation where money falls out of thin air. In an airdrop, coins are “carpet bombed” to thousands, or even hundreds of thousands of cryptocurrency addresses as part of marketing campaigns, said Muroch.

One example of a massive airdrop was the one executed by Stellar, a cryptocurrency created by XRP co-founder Jed McCaleb. In September of last year, the Stellar Foundation announced it would airdrop 2 billion XLM, worth over $120 million at the time. An unprecedented sum.

Again, like forks, the owner of a cryptocurrency address that benefits from an airdrop is often unaware of the windfall. Many times they do not even consent to receiving an airdrop.

“You’re not always aware that you receive assets from a fork. You can couple that with airdrops, not just forks,” said Muroch. “All those holders had taxable events because someone in the marketing department decided to use that as a marketing tool.”

Tax Implications of Forks and Airdrops Consent aside, the IRS has voiced its position on forks and airdrops⁠. “The receipt or transfer of virtual currency for free, including from an airdrop or following a hard fork,” needs to be reported for tax purposes, says the IRS.

The power to collect taxes from these events, even crypto, come from broad powers given to the government over a century ago. “The Congress shall have power to lay and collect taxes on incomes, from whatever source derived,” reads the 16th amendment.

The IRS has offered some clarity concerning the confusion. In October 2019, the agency issued a ruling on the issue.

Crypto holders recognize income when they “exercise dominion and control over the cryptocurrency” received through a fork or an airdrop, according to the rules. That is, when a holder gains the ability to transfer or sell the cryptocurrency.

Wendy Walker, a tax withholding and reporting expert at Sovos, a tax reporting software company, reaffirmed this position in a conversation with Crypto Briefing. Forks are treated as “ordinary income,” and the specific amount of tax liability would depend on the valuation scheme the taxpayer is using, she said.

By default, coins are valued using the FIFO, or “first in first out,” method of accounting, where the oldest units of cryptocurrency are used to determine the cost basis, said Jim Calvin, a tax partner at Deloitte.

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Though there are other valuation methods that may produce less tax liability, like LIFO or average cost, and these are viable so long as they are consistently applied. If this all seems confusing, an example might help illustrate the tax implications.

Using the Bitcoin Cash Fork as an Example Bitcoin Cash split from the Bitcoin network on Aug. 1, 2017, to settle a disagreement over the block size⁠⁠, which essentially determines the upper limit to how many transactions can be processed by the Bitcoin network in a roughly a 10 minute interval.

Those who held their private keys prior to the chain-split received a number of BCH equal to the number of BTC they held.

Bitcoin was trading at $2,800 the day of the fork. Immediately after the split, Bitcoin Cash opened on exchanges at $290. A taxpayer who had received BCH would recognize $290 in income, which would also determine the cost-basis of the BCH.

Later the next day, if the taxpayer sold their Bitcoin Cash when it was trading at $380, they would recognize capital gains of $90:

$380 - $290 = $90 Hypothetically, if the price of Bitcoin dropped as a result of the fork, it might be possible to offset some of the income from the fork, but the rules around this are unclear.

Tron’s Ethereum Airdrop as an Example Another example to demonstrate the recognition of income is when Tron airdropped 30 million TRX to Ethereum holders. Announced April 2018, Ethereum addresses with a balance of one or more ETH received between 10 and 100 TRX.

TRX was trading at $0.5 on the day of the airdrop, April 20, 2018. Assuming an address received 50 TRX, the Ethereum holder would recognize income of $25 on that day ($0.5 x 50).

To illustrate the impact of FIFO, if those coins were received over a series of days (from the 20th to the 22nd, for example), then the following accounting would take place:

April 20: 50 TRX at $0.5 each ($25) April 21: 50 TRX at $0.6 each ($30) April 22: 50 TRX at $0.7 each ($35) In all, the account holder received $90 worth of TRX, and would recognize this sum as revenue. Hypothetically, if they sold 60 TRX at $0.7, they would recognize gains from the oldest batches of coins first under FIFO.

The April 20 batch as the “first in” would get sold first, for reporting purposes. The 50 TRX with a cost basis of $0.5 each and sold for $0.7 each would register a gain of $10:

(50 x $0.7) - (50 x $0.5) = $10 Then, it would take 10 TRX from the batch from April 21, which were obtained at $0.6 each:

(10 x $0.7) - (10 * $0.6) =  $1 In total, the taxpayer would recognize capital gains of $11, in addition to the $90 of income from the three batches of airdrops.

In some circumstances, especially for those who trade often, it can be advantageous to use the LIFO method which takes the newest coins first, allowing some of the coins held for more of the year to get preferential long-term capital gains treatment.

Issues Raised by Airdrops Airdrops are an issue for holders of Ethereum and other smart contract blockchains. Even if the owner of the address did not consent to receiving the tokens they would still incur tax liability. Oftentimes, Ethereum holders receive hundreds of unsolicited tokens at no fault of their own.

Looking at Vitalik Buterin’s wallet address as an example, he has received over a hundred unsolicited airdrop coins worth thousands of dollars.

Vitalik Buterin’s main wallet address on Etherscan If the rules are to be followed by the book, each and every one of these airdrops would be recognized as revenue on the date of receipt. Further complicating the issue is that many of these coins are not traded on reputable exchanges, meaning their prices are unreliable.

In the end, this results in an accounting headache and an unwanted tax liability for holders of Ethereum, Tron, EOS, and other smart contract coins.

IRS Ramps Up Crypto Enforcement These tax agencies mean business. Regulators are well aware of cryptocurrency’s role in aiding tax evasion and money laundering. Those who think they can get away without paying taxes are at risk of an audit, along with steep penalties.

Transactions on the Bitcoin blockchain are public, for the most part. It’s only a matter of time before the IRS is able to trace these transactions back to taxpayers, Walker told Crypto Briefing.

More alarming is that more than 50% of CPAs expect that at least half of their clients will be audited for back taxes on their crypto holdings, according to a joint report by Blox and Sovos. Reputable exchanges report activity from crypto traders to the IRS. Coinbase, Kraken, Binance.US, and Gemini all disclose this information to tax agencies, making evasion difficult.

In June of last year, the IRS mass mailed targeted letters to taxpayers suspected of “misreporting” cryptocurrency transactions. British tax authority HM Revenue & Customs has issued similar warnings.

“Cryptoassets like Bitcoin have attracted a lot of interest from people who are new to investing and have probably never filed a tax return in their life. It’s really important for investors to start doing the maths now so they know how much profit they’ve made and the tax due,” said Iqbal Gandham, UK managing director of eToro.

These authorities are serious, and it’s likely they’ll continue to crackdown on those intentionally and unintentionally underpaying on their taxes.

Caveats and Strategies Around Cryptocurrency Income Recognition There are, however, some caveats. Exchanges don’t always immediately recognize forks as tradable assets, and many do not register airdrops at all. This can be used to the taxpayer’s advantage.

Coinbase, for example, did not offer support for BCH for a full four months after the fork. As a result, holders wouldn’t recognize income until they could “exercise control” over the asset. That is, until they could transfer and trade it.

So, for those trading on Coinbase, income wouldn’t be recognized until that date, when Bitcoin Cash was worth over $2,500 per coin (instead of $290 per coin).

This fact can be used as a tool to reduce tax liability. By storing coins on an exchange, a holder can avoid getting bombarded by airdrops, which would normally trigger taxable events.

To take advantage of this, an investor could store coins on an exchange and wait until their income drops⁠ to claim those coins (supposing they waited until they could offset their gains by selling some coins at a loss, or expected less income in a coming tax year⁠).

How to Report Forks and Airdrops on Your Taxes In sum, here’s how to report forks, airdrops, and capital gains on a tax return. The following exercise uses the Bitcoin Cash fork and Tron airdrop from the earlier examples. The entire process requires four different IRS forms.

These include the following: the 8949: Sales and Other Disposition of Capital Assets, the Schedule 1: Additional Income and Adjustments to Income, the 1040, Schedule D: Capital Gains and Losses, and the 1040: Individual Income Tax Return.

Assuming the taxpayer received 1.0 Bitcoin Cash from the fork and 50 Tron from the airdrop in the earlier example, first fill out the Schedule 1 as follows:

($290 x 1 BCH) + (50 TRX x $0.5) = $315 Then, for the capital gains associated with the sale of the Bitcoin Cash, itemize each sale and report it on form 8949. For those who trade regularly attaching a spreadsheet can greatly speed-up the process.

(Sale price: $380) - (Price at fork: $290) = $90 gain The sum of these cryptocurrency sales are then reported on Form 1040, Schedule D. Finally, input these figures on the 1040 form with all other sources of income:

(Capital Gains: $90) + (Fork and Airdrop Income: $315) = $405 total income Between the fork, the capital gain, and the airdrop, this taxpayer would have $405 in additional total income.

At first glance, it may seem that reporting tens and sometimes hundreds of cryptocurrency transactions would be daunting. It is, without the aid of spreadsheets or software.

But, with enough diligence, it’s possible to report these transactions yourself. Beyond that, those who plan in advance can even reduce how much they owe, allowing them to keep more of their hard-fought gains.

For more information on proper filing, refer to official guidance from the IRS and their frequently asked questions guide.

The information presented here does not represent tax advice. Please consult with a professional before making decisions about your taxes.

Disclosure: This article was edited by Mitchell Moos. For more information on how we create and review content, see our Editorial Policy.

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On-chain data shows Bitcoin HODLers are still able to sell at a profit while the weak hands are going through a major capitulation event.

Bitcoin Diamond Hands Still Comfortably Selling At A Profit As pointed out by CryptoQuant Head of Research Julio Moreno in a new post on X, the BTC short-term holders have capitulated during this latest downturn in the market.

The “short-term holders” (STHs) make up for one of the two main divisions of the Bitcoin userbase done on the basis of holding time, with the other group being called the “long-term holders” (LTHs).

The cutoff between the two groups is 155 days, with investors who have been holding since less than this time falling into the STHs and those with more qualifying as LTHs.

Statistically, the longer an investor holds onto their coins, the less likely they become to sell or transfer them at any point. As such, the STHs represent the weak-minded side of the market, while the LTHs include the HODLers.

During the latest crash, both of these cohorts have shown a reaction, but this reaction has been very different between the two. To showcase this difference, Moreno has made use of the “Spent Output Profit Ratio” (SOPR) indicator.

The SOPR basically tells us about whether a given group is selling Bitcoin at a profit or loss right now. The metric being above 1 implies members of the group are realizing profits, while it being under suggests loss-taking is the dominant mode of selling.

Now, here is a chart that shows the recent trend in the Bitcoin SOPR for the STH and LTH cohorts:

The difference between the behavior of the STHs and LTHs | Source: @jjcmoreno on X As displayed in the graph, the Bitcoin STH SOPR has been mostly at levels under 1 during the latest drawdown in the price, implying that these investors have been selling at a loss.

At its worst, the indicator had even fallen under the 0.8 mark, suggesting that the cohort had been taking a loss of more than 20%. Clearly, these fickle-minded hands were thrown into quite a panic by the crash.

While the STHs have been capitulating, the LTHs are still participating in net profit-taking, as the SOPR for them has remained strong above the 1 level. The indicator even reached a notable level during the rebound BTC saw following its lows, suggesting that these diamond hands had sold for significant gains.

Some STHs, too, had managed to take profits in this recovery, but as is visible in the chart, the metric had only slightly breached the 1 mark and that too just briefly, meaning that the profit realization hadn’t been anything significant and had lasted for only a moment.

BTC Price At the time of writing, Bitcoin is trading at around $55,000, down more than 17% over the past week.

Looks like the price of the coin has been sliding down recently | Source: BTCUSD on TradingView Featured image from Dall-E, CryptoQuant.com, chart from TradingView.com

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A notable diamond hand investor recently sold 199 Bitcoin ($13.55 million) for a profit, according to data from Lookonchain. This transaction marks another significant move for the investor, who has made a series of profitable sales over the years.

https://twitter.com/lookonchain/status/1847196510666346762?s=46

Bitcoin Investor Pulls $44M Profit After Strategic Sales Over 5 Years He pulled out 801 Bitcoin ($8.25 million) from HTX exchange five years ago when Bitcoin was only at $10,297. Since then, the individual has gradually been offloading parts of their holdings and within the last month they have disposed of 500 Bitcoin worth $32.13 million.

At the moment, the investor owns 301 BTCs, which is equal to $20.42 million. The accumulative revenues from such transactions have now risen to about $44.28 million, further demonstrating their performance in terms of good holding gains and timed exit gains.

Diamond Hand Investor’s Volatility Management Leads to Huge $BTC Profits This ‘diamond hand’ strategy is based on the investor’s confidence in Bitcoin’s fundamentals, while they are at the same time making good money out of short-term price movements. The fact that the investor has been selling considerable proportions of it especially when Bitcoin prices had skyrocketed in the months prior to the writing of this paper, affirms the investor’s volatility management, and portfolio health.

Stories like this, from Lookonchain, show how Bitcoin attracts both retail and institutional investors, and may result in large gains for those who could afford to wait out the cycles.

AUTHOR

Umair Younas is a cryptocurrency-related content writer linked with this work since 2019. Here, at Blockchainreporter, he serves as a news and article writer. He is a crypto, blockchain, NFTs, DeFi, and FinTech enthusiast. He has strong command over writing authentic reviews about brokers and exchanges and he has collaborated with our education team to write educational content as well. He has a dream to raise awareness among people about digital currencies. His works are well-researched and brimmed with information hence they provide fresh insights. Stay tuned to his posts if you want to stay up-to-date with the crypto-verse.

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Bitcoin has spent the last five days trading within a relatively narrow range between $106,229 and $111,807, following its recent all-time high of $111,814. Despite the increase in selling pressure from miners after the all-time high, the price of Bitcoin has managed to hold above $108,000, with on-chain data showing Bitcoin diamond hands absorbing all the selling pressure.

Long-Term Holders Accumulating With Minimal Spending According to data from the on-chain analytics platform CryptoQuant, the Long-Term Holder (LTH) Spending Binary Indicator has fallen to its lowest level since September 2024. This interesting trend was initially noted on the social media platform X by crypto analyst Alex Adler Jr.

The 15-day moving average of this metric, as shown in the chart by CryptoQuant, has dropped to the minimal spending zone. Notably, this zone has consistently preceded a more bullish move in the Bitcoin price. 

Source: Axel Adler Jr on X In parallel, long-term holder supply has risen by approximately 300,000 BTC over the past 20 days. This marks a deviation from the trend of declines in the long-term holder supply since 2024. At the time of writing, 14.6 million BTC, representing about 74% of the total current circulating supply of BTC, is in addresses classified as long-term holders. 

This pattern suggests that so-called “diamond hands”, i.e., investors with a strong conviction who hold through volatility, are not only refraining from selling with Bitcoin’s recent new peak, but are actively accumulating. The chart below shows the correlation between minimal LTH spending and rising price action, a behavior that also aligned with phases of Bitcoin’s uptrend in 2019, late 2020, and late 2024.

Why It’s Bullish For The Market The significant uptick in long-term holder supply, combined with minimal selling activity, reveals a hidden strength in the market. The current behavior of long-term investors also indicates their confidence in Bitcoin’s valuation at current levels, despite the recent price surge. Many of these long-term holders are in substantial profit, yet still choose to hold. This is unlike short-term holders, who have collectively realized over $11.6 billion in profits over the past month alone.

Drawing a parallel with historical data, the current decline in long-term holder (LTH) spending mirrors a similar pattern observed in September 2024. At that time, the LTH Indicator was in the minimal zone, and the long-term holder supply was also increasing steadily.

What followed was a remarkable 96% surge in Bitcoin’s price, rising from approximately $54,000 to peaks around $106,000 in December and January. If the market were to follow a similar trajectory from the current price level, a comparable 96% rally would see Bitcoin rise to a new peak near $212,000.

At the time of writing, Bitcoin is trading at $109,000.

BTC trading at $108,723 on the 1D chart | Source: BTCUSDT on Tradingview.com Featured image from Getty Images, chart from Tradingview.com

Spot Bitcoin (BTC) Exchange-Traded Funds (ETFs) have shown strength amid the crypto market’s correction and the flagship crypto’s latest performance. Some experts have praised investors’ resilience, suggesting that the “real story” is not in the recent outflows.

ETFs Investors Hold Strong Despite Market Downturn On Thursday, Nate Geraci, co-founder of the ETF Institute, affirmed that Bitcoin ETF investors have “largely displayed diamond hands” during the recent crypto market downturn.

The flagship crypto has seen a 48.2% correction from its October 6, 2025, all-time high (ATH), recording five consecutive months of strong bleeding after the October 10 market crash.

Since then, spot BTC ETFs have seen about $6.5 billion in outflows, the expert observed, which he considers a “drop in the bucket” compared to the $55 billion in cumulative total net inflows that the category has seen since launching in January 2024.

It’s worth noting that crypto-based investment products have seen five weeks of outflows this year, with Bitcoin having the weakest sentiment among major assets amid the negative market sentiment of the past month.

According to SoSoValue data, BTC funds have recorded $3.81 billion in net outflows since January 23, starting the week with $203.82 million in outflows on Monday.

However, Geraci highlighted potential renewed demand for the investment products as the category sees a three-day streak of consistent inflows. Notably, Bitcoin ETFs have seen over $1 billion in inflows over the past three days, setting the stage for their potential biggest week since mid-January.

The ETF expert emphasized that 50% drawdowns “are a walk in the park for long-time BTC investors,” but observed that newer ETF investors also appear unfazed by the current market conditions.

“Not first time btc has experienced 50% decline & likely won’t be the last. ETF investors clearly aren’t panicking, though. Apparently buying the dip,” he wrote on X.

Bitcoin ETFs Strength Is The ‘Real Story’ Bloomberg Intelligence Senior ETF Analyst Eric Balchunas backed Geraci’s comment, praising the remarkable performance of spot Bitcoin ETFs over the past two years.

“As an ETF watcher, you know just how absurd this strength amid a 50% drawdown,” Balchunas stated. “This is the real story, vs focusing on the $6b that came out, which most stories do.”

“Further, the narrative that crypto is ‘paying the price’ for getting financialized is absurd. $55b in net new cash in two years is the opposite of paying the price,” he added on X.

In a recent interview, the senior analyst observed that the amount of Bitcoin held by ETFs is only down around 6% despite the market pullback. He noted that these types of corrections happen to every asset, including bonds and stocks, before recovering.

Stocks have the same thing. Every time stocks go down, I remind myself and then other people that stocks have a 100% perfect record of coming back to hit all-time highs from a downturn. So, why would I worry that much, right?

Balchunas affirmed that these assets can have “really horrible streaks, but then when they come back around, the flows come back.” He concluded that the price volatility and the negative market sentiment are “the cost of the holy grail returns that most people have gotten.”

Bitcoin trades at $65,366 in the one-week chart. Source: BTCUSDT on TradingView Featured Image from Unsplash.com, Chart from TradingView.com

The gaming universe is on the precipice of a significant shift. Aurory, a prominent name within the NFT-driven gaming scene, has divulged its plans to extend its realms beyond the Solana blockchain. This expansion focuses on incorporating the Ethereum scaling network, Arbitrum, into its ecosystem. The announcement not only solidifies the increasing momentum of cross-chain integration but underscores the flexibility and inclusiveness that the modern gaming industry is inching towards.

Expansion, Not Migration

While various Solana-rooted NFT and gaming projects have ventured into other blockchain territories, Aurory's trajectory seems unique. The brand consciously markets its move as an "expansion" rather than a full-blown migration. Jonathan Campeau, Aurory’s Executive Producer, clarifies the brand's stance, stating, “We’re not leaving Solana necessarily. For us, we need to branch out a little bit from a pure business point of view.”

Aurory’s SyncSpace technology is at the forefront of this strategic shift. It promises a smooth transition for assets between Solana and Arbitrum, enabling players to access their favorite games without a hitch.

Bridging the User Experience Gap

Solana's inherent incompatibility with the Ethereum Virtual Machine creates hurdles for users accustomed to the Ethereum ecosystem and specific wallets like MetaMask. Addressing this, Aurory offers a simplified sign-in experience where players can use their email addresses and opt to connect a crypto wallet later. By doing this, they are acknowledging and catering to diverse user experiences and preferences.

Campeau captures the essence of the move, “We just want to open more doors for players. Solana has a specific audience, and so does Arbitrum.”

SyncSpace: More Than Just a Bridge

SyncSpace, while functioning as a bridge between blockchains, has a more profound mission. Michael Natoli, Aurory’s Head of Marketing and Business Development, emphasizes that the main goal is to establish novel on-ramps into the game, tapping into diverse crypto communities. The objective is to enrich the player experience and promote a sense of community.

This bidirectional flow of assets ensures players have the flexibility they seek. Whether an NFT is on Solana or Arbitrum, its functional utility within the game remains consistent. “There is no 'upside' of moving them from one chain to the other. We ultimately want to expand our community and bring the Aurory experience to another growing and committed Web3 ecosystem in Arbitrum,” added Natoli.

Enhancing Gameplay with Blockchain Diversity

The cross-chain integration can also breathe new life into the gameplay. Campeau suggests that integrating more blockchains could introduce new experiences with NPCs, potentially tied to specific chains, paving the way for intriguing cross-chain explorations.

A Glimpse into Aurory's Gaming World

With two exciting games under its belt, Aurory Adventures (a PvE RPG) and Aurory Tactics (a PvP battle arena game), Aurory promises players an immersive experience. The inclusion of character NFTs known as Aurorians and Pokemon-esque animal NFTs labeled Nefties adds depth to the gameplay. Their past collaborations, like the one with TSM and the crypto exchange FTX, indicate their intent to innovate continually.

While Arbitrum is Aurory’s current focus, the brand is keeping its doors open. Campeau hinted at the possibility of exploring other ecosystems like Polygon, Avalanche, and BNB in the foreseeable future.

In conclusion, Aurory’s venture into the cross-chain domain signifies a pivotal moment for the gaming industry, setting a precedent for more inclusivity and interconnectedness in the crypto-gaming world.

Aurory, a Solana role-playing and monster-battling game, has launched its Seekers of Tokane experience to the public on the Epic Games Store after previously restricting access to NFT holders and access code recipients.

Seekers of Tokane serves up a chunk of the overall Aurory experience, letting players battle with Pokémon-esque creatures (called Nefties) and explore a lush fantasy land. It plays like a “roguelike” game, in which players must grab loot and attempt to exit with their winnings—because you’ll lose everything if you perish.

The public access is available for a limited time, from February 12 through February 26, and it’s tied to the launch of an in-game event, Dracurve’s Awakening. And it’s also linked to crypto rewards, including AURY tokens and rare in-game NFTs.

Aurory will distribute $50,000 worth of AURY token rewards to players, with $35,000 of that set for Aurorian NFT owners and the rest intended for non-holders. Furthermore, the game will also offer up limited edition NFT collectibles and “Draconic Eggs.”

Beyond the split between NFT holders and non-owners, it’s not clear how Aurory plans to distribute the $50,000 worth of AURY to players, or how specifically to earn the rewards. Decrypt’s GG has reached out to the Aurory team for clarification and will update this story if we hear back.

Aurory first launched in the Epic Games Store last November with the debut of Seekers of Tokane. Operated by Epic Games, the developer of Fortnite and creator of the widely used Unreal Engine development suite, the Epic Games Store is a major mainstream PC gaming marketplace with some 230 million total users as of the end of 2022.

It has also become a prominent home for a growing stack of crypto and NFT games, including the likes of Shrapnel, Gods Unchained, and Nyan Heroes. Rival marketplace Steam, run by Half-Life and Counter-Strike developer Valve, has taken an anti-crypto stance—though some game creators have found ways around the restrictions.

The Aurory project spans multiple games, as well as multiple chains. While it started life on Solana, the game expanded to Ethereum scaling network Arbitrum last year in an effort to attract more players. However, the game’s bridge to Arbitrum was exploited for $830,000 worth of AURY in December.

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What Is Bonk (BONK) Crypto?

The head of a $230 billion Singaporean investment fund is the latest high-profile public figure to have their likeness used to promote Bitcoin Pro – an investment scam making the rounds on Facebook.

Ho Ching, who has served as Temasek’s CEO since 2004, warned her more than 57,000 followers on Monday:

“Just to alert everyone that there have been some more fat frogs jumping in the streets! […] The scams masquerading as breathless news from Straits Times, Channel News Asia, etc, have resurfaced and are making the rounds again, using my name and making up fake breathtaking quotes from me and others.”

Fake Ad of Bitcoin Investment Scam The ad bears the “as seen on” logos of several legitimate and reputable media outlets, including The New Paper, The Business Times, Today, The Independent Singapore, and Singapore Business Review.

In a “special report” titled “Ho Ching Latest Investment Has Experts in Awe and Big Banks Terrified,” the ad makes several false and sensationalist claims attributed to Ho, including details of a supposed call between Ho and the head of a major bank in which they beg her “stop divulging money-making secrets.”

Ho encouraged her followers to report the ad and cautioned them against getting conned into “get rich quick schemes” like Bitcoin Pro.

A spokesperson for Temasek said:

“These are not new scams – they’ve been around a long time and have targeted many high profile individuals, not just Ho Ching.

“At the end of the day, people need to be aware before committing to anything they see online endorsed by anyone with a public profile.”

Bitcoin Pro By Any Other Name Still a Scam Bitcoin Pro appears to be the latest iteration of the Bitcoin Revolution scam. Similar scams have appeared recently under names like Bitcoin Looper and Bitcoin Evolution.

You may also like: Mining Profits Dry Up Across Bitcoin, DOGE, LTC, and BCH Saylor Should Stop Buying Bitcoin, Says CryptoQuant Strengthening Dollar and OG Selling Pressure Keep Bitcoin Bears in Control  Regardless of the name, all of these scams have several things in common:

They advertise their scam on Facebook using ads that feature fake “news articles” about some famous celebrity or other public figure making sick amounts of money using their program. Like most high-yield investment plans (HYIPs) they promise dizzying profits in a matter of days, weeks, or months. They are practically clones of each other, using the same verbiage and making the same outlandish claims. Ho isn’t the first high-profile Singaporean to be unwittingly caught up in this scam. Earlier this year, former Prime Minister Goh Chok Tong had his likeness used to promote the scam, prompting the Monetary Authority of Singapore (MAS) to issue an official warning about the scam.

Bitcoin Scam Ads on Facebook are Hard to Kill Although Facebook removes the ads when they become aware of them, policing the Bitcoin scam ads appears to be akin to a game of whack-a-mole – no sooner do they take one down than another one (or more) pops up in its place.

A spokesperson for the social media giant cited the technical savviness of the scammers as one of the chief reasons it is so difficult to prevent the ads from being published. He explained that they “use sophisticated cloaking technology to mask content so that it shows different versions to our ad review systems than it does to people.”

“We encourage our community to report ads they believe are misleading as this information helps us improve our automated detection systems to counter cloaking tactics and make us better,” the spokesperson added.

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Pro-XRP and crypto attorney John E. Deaton, who won the Republican nomination for Senate in Massachusetts, has emerged as one of the largest crypto holders in the political space ahead of the election, with significant holdings in the largest digital assets on the market. 

XRP  Defender John E. Deaton’s Crypto Holdings Exposed Deaton, known not only for his legal expertise but also as a Marine veteran, has drawn attention for his ongoing defense of cryptocurrencies, particularly Ripple, amid the blockchain payments company’s fierce legal battle with US regulators over the past few years. 

Ripple, embroiled in a US Securities and Exchange Commission (SEC) lawsuit since 2020 for alleged “securities violations,” has supported Deaton’s campaign with substantial donations, as the Massachusetts state senate candidate has played a key role in the company’s defense.

Nonetheless, Fox Journalist Eleanor Terret brought to light the revelation on Wednesday that a substantial 80% of Deaton’s net worth is tied up in Bitcoin (BTC) or BTC-related investments, alongside undisclosed holdings in Ethereum (ETH), Solana (SOL), and XRP. 

Terret’s post on Deaton’s crypto holdings was made on Wednesday. Source: Eleanor Terret on X Ripple’s Political Push The involvement of Ripple, with significant contributions to the Commonwealth Unity Fund, a super political action committee (PAC) established by legal expert and crypto advocate James Murphy, showcases the growing influence over the past year of the crypto industry in the US political race. 

Ripple’s support, which includes $1 million in donations from key figures such as the company’s CEO Brad Garlinghouse and founder Chris Larsen, signals a concerted effort to support Deaton and foster a more crypto-friendly political climate, which has been marked by lawsuits and increasing enforcement actions against key industry players, especially in the past year.

Murphy, known for his insights on crypto enforcement matters under the pseudonym “MetaLawMan,” has articulated a vision of unity and collaboration in Congress, positioning Deaton as a candidate capable of bridging divides in the Senate regarding crypto regulation. 

However, with Warren’s stronghold in Massachusetts, not losing her seat since 2013, and her vocal stance against digital assets, Deaton’s campaign faces financial and ideological challenges.

In addition, the fundraising numbers also position Warren to outpace the Pro-XRP lawyer in contributions, reflecting the uphill battle for the crypto-friendly candidate. Murphy said in a recent interview with Fox:

Now, more than ever, we need unifiers in the Senate. I believe the people are ready to reject the divisive policies and actions of Elizabeth Warren.

The daily chart shows XRP’s uptrend recorded over the past month. Source: XRPUSDT on TradingView.com At the time of writing, XRP, the sixth largest cryptocurrency on the market, is trading at $0.615, down 1.5% in the last 24 hours, as the crypto market has seen a slight correction led by Bitcoin on Thursday. 

Featured image from DALL-E, chart from TradingView.com 

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Ridesharing App Lyft Partners With Blockchain Startup to Tokenize Healthcare Transport

Spending on global healthcare is increasing dramatically year on year. Projected to grow to over $10 trillion by 2022, the healthcare industry is a giant market fueled by rising life expectancy and a growing population, but the medical sector still faces multiple inefficiencies, especially with financial sustainability.

Digital innovations are reshaping the future of the healthcare landscape, and innovations are making care delivery more cost-effective, and more accessible than ever before. Blockchain holds the potential to bring greater trust, auditability, and traceability to multiple healthcare functions.

Solve.Care CEO & Founder Pradeep Goel However, when people think of blockchain technology adoption, healthcare isn’t necessarily the first application which comes to mind.

But there’s one blockchain technology company that is quickly changing that.

Blokt interviewed Solve.Care CEO Pradeep Goel, to find out why healthcare is such a ripe industry for blockchain disruption, and what Solve.Care’s role is within that process.

Founding Solve.Care Founded in 2017 and headquartered in Kyiv, Ukraine, Solve.Care is a healthcare platform built on distributed ledger technology which redefines benefits administration, care coordination, and healthcare payments – the three core pillars of healthcare systems around the world.

Founder and CEO Pradeep Goel has over 25 years of healthcare industry experience, building solutions for public programs such as Medicaid, Medicare, the Child Welfare program amongst others, as well as health insurance and health information exchanges.

In the US, almost one in every five dollars of national output is consumed by healthcare, a figure which is greatly exacerbated by fraud, waste, and abuse of the medical supply chain.

We asked Goel what made Solve.Care focus on a blockchain solution for these inefficiencies:

“My own son was diagnosed with a disorder which required him to see a neurologist. It took more than seven months to get an appointment. We called hundreds of neurologists individually. There was no other way to check their schedules. What about those diagnosed with a terminal illness struggling to make appointments with multiple specialists, without assistance?”

After encountering healthcare inefficiencies firsthand, Goel decided he would make healthcare more efficient for all parties, patients and caregivers alike – and blockchain technology was the perfect technology on which to build the Solve.Care solution.

How does Solve.Care Work? Although there are multiple healthcare apps in development which could be implemented using blockchain technology, Solve.Care stands out in the market with its unique approach to a blockchain healthcare platform.

Instead of offering a single-purpose app for users to download, Solve.Care provides a complete administrative platform which gives healthcare providers a unique opportunity to build their own ‘Care Administration Networks.’ This allows providers to connect and synchronize their participants, make instant payments inside the network, and share information instantaneously to reduce fraud.

The way the Solve.Care platform is built means it is designed to protect the security and privacy of users and patients data, while also improving access and accountability.

On top of the platform, healthcare stakeholders can use the Care.Wallet app and Care.Cards.

On the function of the Care.Wallet, Goel remarks:

“Care.Wallet is an organizer that stays with users throughout their life journey, no matter who sponsors or facilitates their healthcare. Our objective is to deliver a better healthcare experience at the lowest possible cost to both individuals and groups.”  

Goel also explains that even in the most efficient healthcare systems, at least 10-15% of budgets are spent on administrative costs, rather than delivering healthcare – a huge gap which could be significantly decreased.

Expanding on this issue, Goel says:

“Every dollar saved on administration costs could be redirected to spending on healthcare delivery. These are costs that need to be trimmed down and reduced. Is it achievable to a zero? No. But can we bring it as close to zero as possible, without compromising quality of care? Yes, and we should strive to do so.”

Solve.Care ensures the protection of potentially sensitive user data through the Care.Vault, which allows for both single ownership and multi-ownership data to be stored off-chain. Clinical data is safely secured in the Care.Vault, so only the Care.Wallet holder associated with the account has access and consent over rights and sharing.

The SOLVE Token Solve.Care concluded its token sale in the first half of 2018, selling 350 million SOLVE tokens in a sell-out raise.

SOLVE is an ERC-20 token used by clients, insurers, employers, and agencies in order to build Care Administration Networks inside the Care.Wallet for patients to use their services.

Likewise, SOLVE holders can sponsor care for loved ones, using SOLVE tokens to subscribe to vital healthcare services which also allow users to track the patients health daily.

Currently, SOLVE tokens are traded via secondary markets on Bittrex, KuCoin, Upbit, and more.

Geographic Focus Recently, Solve.Care has started turning toward the healthcare market in Asia, and many business meetings with healthcare insurers, blockchain trading platforms, and partners have taken place in Hong Kong, South Korea, and Japan.

Asked why Asia is such a key market for Solve.Care, Goel explained:

“When we look at the client base in Asia, we see a lot of interest around administration and coordination in healthcare. There are few advanced systems or well-defined platforms, like Solve.Care, available today to insurers in Asia.”

As part of Solve.Care’s Asian expansion strategy, the team is planning to issue Care.Cards in local languages such as Korean, Japanese, and Chinese. To achieve this, Goel says, Solve.Care is already in talks with multiple potential partners.

Likewise, Solve.Care is planning to launch reseller and delivery partnerships in Hong Kong, Korea, and China which will enable it to bring its platform to these markets with greater efficiency.

Solve.Care Live Applications In 2018, Solve.Care launched two blockchain applications to facilitate process administration for patients and physicians.

The first application, the ‘Care.Wallet for Physicians’, is already being used.

Goel says:

“Arizona Care Network, one of the largest accountable care organization in the US, is using the Care.Wallet solution for their network, which consists of 5,500 physicians caring for 250,000 members.”

The Care.Wallet app allows physicians to benefit from the ‘Provider Rewards Program,’ which evaluates healthcare provider performance and distributes rewards correspondingly.

Solve.Care stands out as being the first company ever to implement digital currency and blockchain in healthcare for value-based payments, as it has done with the Care.Wallet for Physicians which utilizes Solve.Care’s healthcare digital currency called Care.Coin.

Solve.Care’s second live application, the ‘Care.Wallet for Family’, has already been downloaded by people in over 80 countries.

Goel adds:

“Care.Wallet for Family is both GDPR and HIPAA compliant and is available from app store for Android. The app allows users to join sponsor networks launched by insurers, employers, or providers, and track their healthcare with just one app.”

Solve.Care will also issue a transportation card, integrated with its new partner Lyft, a major US transport company, to enable patients to access care more easily.

Healthcare Industry Adoption Of course, the success of the Solve.Care ecosystem will depend on adoption by healthcare professionals.

When asked how this adoption would grow, Goel explained:

“Healthcare stakeholders are open for real solutions that lighten the widespread burdens of fraud, waste, and lack of transparency. Increased demand for care is placing an intolerable burden upon already stretched healthcare resources. Complex support infrastructure, data system silos and administrative bureaucracy have given rise to inefficiency and duplication of efforts, wasting billions of dollars.”

Instead, Goel says, the Solve.Care platform can be easily implemented by insurance companies, government agencies, employers, large clinical networks, managed care organizations, or pharmaceutical companies.

The fact that Solve.Care’s platform is custom-built to serve the needs of any client makes it a perfect solution for a wide range of healthcare pain points.

What Does the Future Hold for Solve.Care? In 2019, Solve.Care is focusing on platform development and onboarding new clients to the Solve.Care platform. Likewise, Solve.Care is extending its platform throughout Asia a year ahead of schedule. This year, Goel tells us, Solve.Care will be announcing a major partnership in Asia.

Speaking more broadly about the Solve.Care roadmap for 2019, Goel remarks:

“For 2019, Solve.Care is on track to achieve 125,000 wallets being adopted. We also plan to publish more Care.Cards in the market, covering benefits, clinical care, and healthcare payments. Additionally, we plan to announce more partnerships regarding care delivery, disease management, and data management.”

When asked what Solve.Care’s plans are within the coming years, Goel had this to say:

“We have set a goal that in the next three years, Solve.Care will be a company that has all the governance, adoption, and revenue growth to launch an IPO on a major stock exchange.”

Lastly, Goel finished by reiterating his mission for the Solve.Care platform:

“Our underlying goal is that every man, woman, and child who needs healthcare at some point of their life will be able to use Care.Wallet to address their needs. We want to make the healthcare experience as easy and effective as possible for You, Me, our parents, and our children.”

Solve.Care is a noble and worthwhile goal, and a great use of blockchain technology for social good.

BitStarz Player Wins Record-Breaking $2,459,124! Could you be next to win big? >>>

Blokt is a leading independent privacy resource that maintains the highest possible professional and ethical journalistic standards.

The Blockchain Life 2019 Asia forum was held on April, 23-24, in Singapore. The organizer of this event was the leading worldwide listing agency called Listing.Help.

This year Blockchain Life 2019 Asia forum was attended by more than 3000 participants, including speakers, investors, developers, representatives of funds and worldwide blockchain companies. The main theme of the event became discussion of the current market trends and forecasts until the end of 2019.

Today Blockchain Life is a global and the most important event in the blockchain industry, because it critically effects the international crypto market, development of blockchain and worldwide digital economy.

Blockchain Life Awards, an independent contest in the framework in the blockchain and crypto currencies industry, takes place annually in the framework of the Blockchain Life forum. The winners in seven key nominations are determined through open voting. This year’s victory in the nomination ‘The Best Cryptocurrency Exchange‘ was won by the platform KuCoin. ‘The Best Trading Platform Launched in 2018‘ was the platform COINSBIT. ‘The Best Cryptomedia‘ was CCN.com. ‘The Best Blockchain StartUp‘ was ecosystem Eqwity. ‘The Best ICO Advisor‘ – Giovanni Casagrande. ‘The Most Innovative Blockchain Project‘ was Solve.Care. And Company NOVA achieved victory in the nomination The Best Corporate Product with the Use of Blockchain Technologies’.

The Coin Shark does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. Readers should do their own research before taking any actions. The Coin Shark is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the article.

10 of the best performing altcoins this week

Crypto markets remain in consolidation; Binance Coin getting back up, BSV falling further back, SOLVE on a charge.  Market Wrap Crypto markets have remained in consolidation for the past 24 hours. There has been no move to the upside indicating that further losses could be inevitable. Total capitalization remains around $250 billion where it was this time yesterday.

Bitcoin hit its intraday high of a touch over $7,900 a couple of hours ago but recoiled again instantly afterwards. Support lies around $7,600 which has been hit twice over the past 24 hours. With a failure to break $8,000 BTC appears set for further declines.

Ethereum is hardly worth mentioning as it is still hopelessly tied to the movements of its big brother. With little action on the day ETH remains just above $245. A large support zone sits at $230 which is where it will head if the correction accelerates.

The top ten is a mixed affair during Asian trading today. Six of the crypto assets have moved less than a percent though. Binance Coin has made the largest upward move of 6.5 percent taking BNB to $31.50. On the down side is Bitcoin SV dumping 9 percent back to $207.

There is equal red and green in the top twenty though movements are minimal as the consolidation continues. On the upside by a percent or two is Dash, IOTA and NEO while Tron and Tezos dump a couple.

FOMO: SOLVE Surges in South Korea A massive dose of fomo has gone to healthcare based platform SOLVE today as it surges 70 percent to $0.522, powering up the market cap charts to 52nd spot. South Koreans are going potty for this altcoin which spiked yesterday and has held gains. Three quarters of the total volume has been in KRW on Upbit and this comes as no surprise following the listing and inroads the project has made there;

UpBit now has KRW-SOLVE pair! This sensational development makes Care.Wallet more accessible in S. Korea. Just the latest step in our Asian expansion strategy. We're excited by the growing demand for our platform & the services and benefits, which require SOLVE token to access. pic.twitter.com/7R3OERsOUB

— TuumIO (@tuum_io) June 5, 2019

GXChain is also going strong at the moment with a pump of 26 percent and the third best performer in the top one hundred is Chainlink adding 16 percent. After a few days of solid gains Japan’s Monacoin is dumping today as it sheds 30 percent. Maximine Coin is the second worst altcoin at the time of writing dropping 23 percent.

Total market cap 24 hours. Coinmarketcap.com Total market capitalization has not really moved much since this time yesterday. It is currently at $250 billion however volume is starting to trail off slowly and is currently $10 billion less than it was yesterday. Another day of consolidation on crypto markets is keeping traders on their toes.

Market Wrap is a section that takes a daily look at the top cryptocurrencies during the current trading session and analyses the best-performing ones, looking for trends and possible fundamentals.

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Uber Health will take crypto payments via Solve.Care ($SOLVE) partnership

A new partnership between Uber and blockchain technology company Solve.Care aims to transform how patients and healthcare professionals can manage and coordinate medical appointments. The ridesharing giant’s healthcare subsidiary, Uber Health, a HIPAA-compliant technology solution for healthcare organizations that allows hospitals and other healthcare professionals to request, manage and pay for rides for patients and staff at scale, will integrate with Solve.Care’s wallet.

According to the announcement, Care.Wallet, a personal healthcare coordination and administration application, will connect to Uber Health for preapproved and predetermined care appointments, providing accessible and affordable rides to patients and caregivers.

Says Dan Trigub, head of Uber Health,

“Every year, an estimated 3.6 million Americans miss their medical appointments due to a lack of reliable transportation, with the cost of missed primary care appointments estimated at $150 billion annually. At Uber Health, we are always looking for ways to ensure that transportation is not a barrier to care. Via our HIPAA compliant solutions, we are working to facilitate rides for patients who might not have access or the ability to use smartphones and to improve access to care for patients with mobility issues. Our partnership with Solve.Care supports our efforts by bringing innovation to the healthcare space and driving greater accessibility to care for patients.”

Pradeep Goel, CEO of Solve.Care, says the partnership will bring managed transportation benefits to healthcare programs.

“By offering access to this Non-Emergency Medical Transportation (NEMT) service, we expect to improve the results of clinical delivery, and reduce overall healthcare costs for everyone.”

Since Solve.Care is built on the Ethereum blockchain, each ride will be logged and recorded allowing patients to pay for rides from their Care.Wallet using Ethereum-based tokens, and also share ride costs with family members, employers and insurance companies. The platform also allows for coordination among patients, providers, employers and family members for better planning, assistance, arrival, payments and the scheduling of appointments.

While the initial roll-out with Uber Health is scheduled for the US in the coming months, Solve.Care plans to become the leading global healthcare benefits administration solution, transforming the industry by solving the issue of affordable transportation for patients.

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