Ethereum Community Fund to be Advised by Vitalik Buterin – Crypto Coins Reports

The engine which funds and connects the growth of Ethereum infrastructure – Ethereum Community Fund [EFC] which has come true by fusing various Ethereum-based projects, will be joined and advised by Vitalik Buterin, Ayako Miyaguchi – Ethereum Foundation executive director and Vansa Chatikavanij – OmiseGo managing director. [based on an announcement on Medium]
The beginning basis of the EFC is the Infrastructure Grant program, which the website describes as a:
“Permanent financial endowment to support and aid projects in building crucial open-source infrastructure, tooling, and applications.”
Jun Hasegawa tweeted at the participating members of the fund yesterday in celebration:

@jaekwon @julianzawist @heikohees @RuneKek Happy to working with you guys !! 😉 Exciting moment has been started with #ECF (Ethereum Community Fund) . Happy to having @VitalikButerin @mi_ayako @vchatBKK as advisors too 😉More details following. Inquiry https://t.co/xtg7qxx8aK https://t.co/sYBxfhwLLd
— JUNΞ (@JUN_Omise) February 16, 2018
https://platform.twitter.com/widgets.js
This gathering project is not the first one of its kind, as The Enterprise Ethereum Alliance [a global initiative] has launched back in Feb 2017 as the largest open-source blockchain initiative in a global scale.
Giants like JPMorgan, Santander, Mastercard, Intel and 200 more organizations have partnered up on the project. The target is to deliver scalability, privacy and security towards development the Ethereum blockchain and Ether.
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Switzerland Marches Ahead to Become the Crypto-Nation: ICO Guides – Crypto Coins Reports

A very appreciated and welcomed approach by a gov – The Financial supervisor of Switzerland has taken a different path towards the much speculated ICO crowdfunding as it issued guidelines for Swiss-based startups that are planning to raise capital for support in the projects. These could be just one of many steps that the country has taken [in contrary to many other nations that are stricting-up rules] to take the lead in the Cryptocurrency community and ecosystem.
The guidelines do divide Initial Coin Offerings into three major categories which are: Utility ICOs, Payment ICOs and Asset ICOs.
Utility ICOs – In this group are included the crowdfunding at which funds or tokens are used as a way to give access to a service or product. Only if they are made with the target of serving a utility these are put down as security, otherwise they are not considered of the sort.
Payment ICOs – These are the ICO funds that are transferable and can be used as a mode of payment. Finma remarked these ICO would have to comply with the anti-money laundering regulations but they wouldn’t be considered as financial securities.
Asset ICOs – The ones that will be set on sale for investors as bonds or equities while making sure that the returns are in regular income or dividends. The Asset ICOs will undergo the definitions of security and the complete-regulation pack for financial securities will be added on.
Finma’s Chief Executive – Mark Branson [on Friday] added that the supportive yet balanced approach towards ICOs would allow:
“Legitimate innovators to navigate the regulatory landscape and so launch their projects in a way consistent with our laws protecting investors and the integrity of the financial system.”
This is a clear sign that Switzerland is trying to take the lead int he crypto-ecosystem tech-wave that has his the globe and finding the best way to utilize it, while other gov-s like South Korea, India or China have pointed out their unwillingness to adopt crypto-trading.
Economic Minister – Johann Schneider Ammann, in Jan, added that there is a full-intention taking place for Switzerland to become the cryptocurrency nation.
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Japan’s Government to Inspect 15 Crypto Exchanges Awaiting Certification – Crypto Coins Reports

Japan’s financial services minister has said today that it plans to conduct on-site inspections of 15 cryptocurrency exchanges following the hack at Coincheck.
Speaking at a news conference, Taro Aso, Japan’s financial services minister, said that the inspections would be looking at those that had filed for certification with regulatory authorities, reports the Japan Times.
The move comes after the hack at Tokyo-based digital currency exchange Coincheck, which saw the theft of $530 million worth of NEM last month. The exchange has since frozen its digital currency withdrawals services; however, it resumed its yen withdrawals on Tuesday.
According to Aso, the inspections will focus on the exchanges computer system safety measures and how they manage customer assets. Of the 15, five have already been informed of the upcoming inspections, the report indicates.
In light of the Coincheck hack, the country’s financial watchdog, the Financial Services Agency (FSA) ordered all licensed and unlicensed exchanges to report on their safety measures and their steps to preventing hacks.  Following the reports, the FSA has now deemed it necessary for detailed inspections to take place all all of the 15 unlicensed cryptocurrency exchanges.
Unlike China’s approach to the digital currency market, Japan has been more embracive of the industry. As a result, the government introduced a registration system for digital currency exchanges when it recognised cryptocurrencies such as bitcoin as a legal form of payment last April.
Notably, cryptocurrency exchanges that were in operation before the revised law went into effect, but have yet to be registered, are provisionally allowed to conduct their business during the registration process. Prior to Coincheck’s hack, the exchange was also permitted to operate. However, following the hack, and the submission of its report to the FSA earlier this week, the agency has to determine whether to give the exchange a license to continue operating.
Coincheck also faces the brunt of disgruntled investors after a lawsuit was filed against the company on Thursday. A group of seven traders, who filed the suit at the Tokyo District Court, are seeking the reimbursement of frozen assets amounting to 19.5 million yen ($182,910). A second lawsuit is expected to be filed against the exchange on the 27th February to account for any lost value in investors’ coins frozen by Coincheck.
After the hack, Coincheck vowed that it would reimburse 260,000 of its customers holding NEM coins, amounting to a total of 46 billion yen ($431 million).
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Ether Ready for a Rally – Crypto Coins Reports

Ether became steady at around $913.92 by Friday, after hitting $920 previously. This week, Ether has been mostly bullish, which was clear after the price went above $860, then hitting two intermediate resistance levels at $900 and $910 and getting a bit higher. Currently, the investors are probably busy locking their profits, Chief Analyst at RoboForex Dmitriy Gurkovskiy says.
The downside potential looks quite limited now, as Ether recovered from $868 all the way to $936, which puts an end to the current short term downtrend. The current support is around $890-$900, while the deep key support is on 50% Fibo, which is $868. To break it out, the sellers will require additional effort and a serious reason.
Speaking mid-term, Ether is still inclined towards $920, and local pullbacks at $890 or $900 will get actively recovered. With some positive reasons, Ether may well break into the area of $935-$940 and form a new ascending channel. The target then will be at $950, and after that, at $980. For now, these targets are somewhat too ambitious, though.
As for the short term, the important support is still at $900, and the resistance lies at $935. MACD is giving fewer bullish signals, but its overall sentiment is still positive for the buyers. Stochastic oscillator bullish signals are also fading out a bit, but are still there, too.
Fundamentally, Ether outlook is quite positive. First, Bitcoin rally is good for all altcoins, and Ether is no exception. Second, Bitmain announced Antminer F3, a mining device for Ether, which is also absolutely great for the digital coin. Antminer F3 is an ASIC miner based on three cards, each of them housing six devices for mining the second most popular cryptocurrency. The production kicks off as soon as in late February, while the product will come to the market in mid Q3, if everything goes well.
Improving the ways to mine Ether may influence positively the popularity of the coin and attract both new producers and buyers.

Disclaimer
Any forecasts contained herein are based on the authors’ particular opinion. This analysis may not be treated as trading advice. RoboForex bears no responsibility for trading results based on trading recommendations and reviews contained herein.
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Litecoin Price Analysis: LTC/USD Correcting Lower – Crypto Coins Reports

Litecoin price formed a short-term high near the $236 level against the US Dollar. LTC/USD is currently correcting lower towards the $205-200 support area.
Key Talking Points

Litecoin price failed to move further above the $235 level and corrected lower (Data feed of Kraken) against the US Dollar.
There is a declining channel forming with resistance at $220 on the hourly chart of the LTC/USD pair.
The pair may correct a few more points, but the $200 support is likely to prevent declines.

Litecoin Price Forecast
Yesterday, we saw a decent upside move in litecoin price above the $200 level against the US dollar. The LTC/USD pair traded as high as $236 before it faced sellers and started a short-term downside correction.
The pair moved down and traded below the $220 support and the 23.6% Fib retracement level of the last wave from the $179 low to $236 high. The downside move was substantial as the price almost tested the $200-205 support area.

At the moment, it seems like there is a declining channel forming with resistance at $220 on the hourly chart of the LTC/USD pair. The current downside move seems to be corrective in structure as long as the price is above the $200 level.
The pair already tested the 50% Fib retracement level of the last wave from the $179 low to $236 high. It is a positive sign, but the price has to break the channel resistance at $220 to gain upside momentum.
Once there is a close above the $220 level, the price may resume its uptrend. Above $220, the price has to break the $235-236 resistance to rise further towards $250 in the near term.
On the downside, the $208 level is an initial support followed by $205. Below $205, the $200 level could be tested, which is also the 61.8% Fib retracement level of the last wave from the $179 low to $236 high.
A break below the $200 support could ignite more declines toward the $180 level.
Trade safe traders and do not overtrade!
 
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VeChain Price Leading Once Again In Gain – Promising Choice – Crypto Coins Reports

VeChain price was able to overcome the major $5.15 and stabilize just below the $6.00 mark. Could this just mark the beginning as VeChain is set to rebrand this month?
As many are choosing to call it – a healthy recovery wave has taken up the crypto-market in a global scale. For the past days – it has been a general green increasing momentum taking place for all leading coins. One is standing above others, VeChain [VEN] which is running a 20 percent gain in the last 24 hours, leading BTC market for 11%.

Source: coinmarketcap
It is also worth noting this VeChain price increase is the direct result of solid improvements in the Bitcoin and Ethereum department. More specifically, the VEN/BTC ratio increased by 11.06%, whereas the VEN/ETH ratio improved by 18.26%. It is evident Ethereum is struggling a bit to follow Bitcoin’s price momentum right now, even though it seems to be a matter of time until everything explodes in value.
Two very notable events are written down to happen during this month [the upcoming days]: the release of Litepay in 41 countries including China, Japan, U.S, German and U.K, and the second being VeChain getting rebranded. An after-shaking impact will be taking over the community and market as both coins are targeting very high even now.
On January 22nd, it had reached its peak of $9.37. At its most recent lowest price, VEN was valued at $2.69 on February 6th. This was also the same day when all our coins did a drastic nose dive and Bitcoin was valued at $6,149. But VEN has since recovered and is valued at $5.72. This is an 112% price increase in 11 days.
More to continue, there is news being spread of a PwC and DNV GL utilizing VeChain as a base supporting tech. This is proof of concept and adoption of the VeChain platform. These partnerships have cemented VeChain in the crypto-verse as a powerhouse in enterprise blockchain technology.
Vechain is a platform that is designed to enhance supply chain management processes. VeChain provides retailers and consumers with the ability to determine the quality and authenticity of products that are bought. The most important factor is confirming the authenticity of (mainly) luxurious products and also giving all kinds of background information about the product.
VeChain already has a working product at the moment, as can be seen in this video by Price Waterhouse Coopers.
In a previous CryptoCoinsReports writing, we have mentioned the range of partnerships which are looking to work together or are already in a project with VeChain.
The coin launched two-three years ago in 2015 being part of a product that does have actual users right now. In the community and ecosystem we enthusiast about maybe everyday that is rare to meet.
In the event end of February, VeChain will be rebranding to VeChain Thor with the tokens having the symbol VET. It is quite interesting what will VeChain deliver next.
Trade safe and do not Overtrade!
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Ripple To Go: Western Union Testing Transfers – Crypto Coins Reports

Western Union – the world’s leading international money transfer service is set to utilize blockchain tech – Ripple for making its cross border transfers secure and very fast.
One of the global financial services ‘big whales’, Western Union, has finally made it known to the world that it’s indeed trying to work with the Ripple digital currency, after a long-rumored partnership.
Raj Agrawal – WU Chief Financial Officer has stated out in an interview for Bloomberg [Feb 14] that the service is testing out transactions that are backed up by Ripple’s [XRP] blockchain-based system.
The testing phase is going on for more than a month now which do confirm the rumors that are spreading [in the crypto-world like wildfire] since early January.
As Ripple’s CEO Brad Garlinghouse told Bloomberg, WU has decided to look into their platform in order to facilitate money transfers, particularly cross-border ones. Garlinghouse explained their choice by claiming that Ripple allows for transactions that are “a thousand times faster and a thousand times cheaper than Bitcoin’s.”
Chief Executive Officer from Western Union – Hikmet Ersek added:
“We are looking especially in the processing settlement and working capital optimization, also in the regulation part, on the compliance part on the blockchain capabilities,” Ersek said, adding “we do have some tests with Ripple.”
The Saudi Arabian Monetary Authority (SAMA) — the central bank for the Kingdom of Saudi Arabia (KSA) — has signed an agreement with Ripple to help banks in the KSA improve their payments infrastructure using xCurrent.
This ground-breaking pilot program is the first of its kind to be launched by a central bank. Participating banks from the KSA will use xCurrent to instantly settle payments sent into and out of the country, with greater transparency and lower costs.
Developments like this [Ripple related] feel like they are daily, and everybody knows that these are a fuel for the market.
A just declared partnership has been signed down by the San Francisco located start-up Ripple and a UAE [Abu Dhabi] based remittance firm.
The tech, as mentioned in various statements, is about to find use by UAE Exchange to hoist the competitive environment in the market for remittances:
“The early adoption of this game-changing technology allows us to offer a competitive service, as it will have an impact on the speed and cost of cross-border transactions,” Promoth Manghat, the company’s chief executive, was quoted as saying by Business Insider.
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Litecoin Price Analysis: LTC/USD Upside Surge Continues – Crypto Coins Reports

Litecoin price extended gains above the $200 level against the US Dollar. LTC/USD is placed nicely above the $220 level for more gains.
Key Talking Points

Litecoin price climbed higher and broke the $200 and $220 levels (Data feed of Kraken) against the US Dollar.
There is a rising channel forming with support at $225 on the hourly chart of the LTC/USD pair.
The pair remains in an uptrend and it seems like it could move further above $235.

Litecoin Price Forecast
In the last analysis, we saw how litecoin price broke a major resistance near $165 and $180 against the US dollar. The LTC/USD pair gained further upside momentum and it was able to move above the $200 and $220 resistance levels.
The upside move was strong as the price moved above the $230 level and formed a high at $236.73. The current bias is positive since the price is now well above the $200 level and the 100 hourly simple moving average.
Cryptocurrency charts and prices provided by TradingView
On the downside, an initial support is around the 23.6% Fib retracement level of the last wave from the $179.60 low to $236.73 high. It seems like there is a rising channel forming with support at $225 on the hourly chart of the LTC/USD pair.
The channel support at $225 holds a lot of importance in the near term. If the price fails to stay above the $225 support, it could test the 50% Fib retracement level of the last wave from the $179.60 low to $236.73 high.
On the upside, the price may soon break the $235 level and trade further higher. Above $235, the next stop for buyers could be around the $250 level, which is a major hurdle for more gains.
In short, the current price action is positive, and LTC/USD could continue to move higher above $235. On the downside, supports and buy levels are seen at $225, $220 and $210. Below $210, the price may retest the $200 level.
Trade safe traders and do not overtrade!
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Crypto Traders File Lawsuit Against Coincheck to Restart Withdrawals – Crypto Coins Reports

Cryptocurrency investors launched a lawsuit against Coincheck today for freezing asset withdrawals following last month’s hack that saw the theft of millions of dollars of digital currency.
A group of seven traders filed an initial suit at the Tokyo District Court, according to the plaintiffs’ lawyer Hiromu Mochizuki, reports Japan Today. They are seeking the reimbursement of frozen assets amounting to 19.5 million yen ($182,910).
Investors are also planning to file a second lawsuit against Coincheck on the 27th February to account for any value lost in their coins frozen by the Japanese exchange, in addition to other damages resulting from withdrawal curbs, Mochizuki added.
Last month, it was reported that Coincheck had abruptly halted services giving rise to the fear that it had been hacked. This was later confirmed, resulting in the theft of $530 million worth of NEM, and making it one of the largest hacks of its kind. As a result, Japan’s financial watchdog, the Financial Services Agency (FSA) conducted on-site inspections of the exchange after handing it a business improvement order.
Following the hack, Coincheck vowed that it would reimburse 260,000 holders of NEM coins amounting to 46 billion yen ($431 million). This is despite Japanese authorities questioning whether the exchange had enough funds to cover the theft.
On Tuesday, users of the exchange were permitted to withdraw yen for the first time, totalling 40.1 billion yen ($373 million). However, while it has resumed yen withdrawals it has yet to do the same for cryptocurrency assets leaving those with funds in the exchange unable to do anything.
 
“Plaintiffs are demanding Coincheck return their cryptocurrencies – 13 different kinds including NEM,” said Mochizuki.
In addition to demanding the reimbursement of the digital currency, the investors are calling for an annualised interest of five percent on the value of the coins while withdrawals have been halted until they resume again.
According to a court file, the investors assets had fallen 31.3 percent in value, or 8.9 million yen, between the heist and Tuesday.
Aside from the lawsuits Coincheck submitted their report to the FSA on Tuesday to explain how the hack happened, what support will be in place for customers, and the measures it will implement to prevent future hacks.
The FSA will determine the report and decide whether it will grant Coincheck a licence to continue operating. Prior to the hack it was allowed to operate without one.
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Ripple Price Analysis: Can XRP/USD Break Higher? – Crypto Coins Reports

Ripple price is rising from the $0.8980 low against the US Dollar. XRP/USD is currently trading above $1.10, but it is facing a major resistance.
Key Talking Points

Ripple price is currently facing a major resistance near the $1.15 level against the US Dollar.
There is a rising channel forming with current support at $1.02 on the 2-hours chart of the XRP/USD pair (Data feed via Bitstamp).
A break above the $1.15 level is needed for buyers to gain bullish momentum.

Ripple Price Forecast
After a major upside move above $1.21, Ripple price found sellers against the US Dollar. The XRP/USD pair corrected lower and traded below the $1.00 support area. It also breached the 23.6% Fib retracement level of the last wave from the $0.5645 low to $1.2301 high.
The downside move was aggressive as the price moved below the $0.9800 support area. However, buyers appeared around $0.8980 and prevented declines. Moreover, the 50% Fib retracement level of the last wave from the $0.5645 low to $1.2301 high was tested.
Cryptocurrency charts and prices provided by TradingView
The price remained well above the $0.9000 level and the 100 simple moving average (2-hours). It has recovered well and moved back above the $1.00 level.
More importantly, there was a break above the $1.08 and $1.10 resistance levels. At the moment, the price is trading near the $1.15 level, which is a strong resistance. There is also a rising channel forming with current support at $1.02 on the 2-hours chart of the XRP/USD pair.
The pair is currently trading near the channel resistance and is struggling to move above $1.15. A break above the $1.15 resistance is needed for buyers to push the price above $1.20.
Once there is a break above the $1.20 level, the price could even attempt to break the last swing high at $1.23. On the downside, there are many supports such as $1.08 and $1.05. Any further declines could put a lot of pressure on the $1.00 support in the near term.
Trade safe traders and do not overtrade!
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