Cryptodiary (21.06): the pedestal for EOS and the index from Huobi

June 21

​​​​​​​The current situation on the market, the short-term forecasts and the news of exchange are in our daily heading.

On Thursday cryptocurrencies decided to suspend the decline and showed a small but still pleasant increase that increased the market capitalization by $5 billion. Now it is $288 billion. Most large tokens added 1-3% but there are certainly exceptions.

Bitcoin (BTC) overcame the negative impact of the news about the hacking of Bithumb, added 1.26% and recovered in the corridor of $6 700-$6 800 gravitating to the upper value. It's too early to talk about a breakthrough and further growth. At the moment there is stabilization but a delicate balance can be violated at any time.

Ethereum (ETH) is growing more actively (by 2.23%). As can be seen on the weekly chart, the coin rate formed an upward wedge-shaped pattern and came very close to the peak values for the breakthrough of the downward trend that seized this cryptocurrency along with the rest of the market in early June. The price is trying to test the resistance level of $550 but it is rolling back to the support level of $530. If this level is broken, it can serve as a signal for the failure of the formation of the new «bullish» trend and the decline to $500 and below.

Ripple (XRP) has added 1.33%, the price of the token holds at $0.52-$0.53. There are all the prerequisites for the growth to $0.56 but the investors of this asset are still cautious remembering the recent breakdown of the relationship of the startup with one of its largest partners Western Union. The main resistance level that XRP failed to break through this night is the price of $0.55. Now the coin rate is in the stage of decline and its support level is $0.52.

EOS (EOS) remains the focus of attention although its growth was only 1.44%. In the updated rating from the Chinese Center for IT Development this cryptocurrency was placed on the podium giving the first place in terms of such indicators as technology and innovation.

Despite the innovativeness, the scandals are still haunting the EOS community. As soon as the delegates-producers of the blocks were chosen, they began to violate the principles of decentralization of the blockchain and arbitrarily block the «suspicious» accounts to which were attributed the storage of the stolen cryptocurrency.

TRON (TRX) continues to grow. Starting today it launches the migration of its network tokens from the Ethereum ERC20 standard to its own MainNet. The increase is 3.35% but the main intrigue will be the direction of the rate after the end of the «move» because before almost any major events of the cryptocurrency world the speculative sentiments grow and then they turn into a serious correction.

The leader of the growth among the top-100 largest cryptocurrencies today is the Enigma (ENG) token that has already added about 23% in the context of the announcement of the cooperation with the technological giant Intel. The company is going to help the blockchain startup from Massachusetts University of Technology to improve the protection of its private smart contracts that use the cryptographic mechanisms to hide the transaction data from the network nodes. To do it, Intel's Software Guard Extensions (SGX) technology will be integrated. In the second half of 2018 the pilot project will be launched and it will demonstrate the potential of the joint work of SGX and the Enigma protocol. The mere expectation of it encourages investors to invest in the ENG token.

The recent announcement from Coinbase that promised to include the Ethereum Classic (ETC) cryptocurrency in the listing was the key to the rapid growth of this asset. At the moment, the coin is trading at $17.1 and the average daily growth is 12.2%. It seems that the token intends to rush back to the $20 mark and there it is already close to the two-month high of $24. But first it has to overcome an important resistance level of $17.5. The analysts suggest that the final growth may be about 60% but they still do not know how to set a time frame for it.

As for exchange's news, the world's third-largest Huobi Pro cryptoexchange announced that Bloomberg financial company had added their HB10 index to its crypto-terminal. HB10 launched by the exchange last month uses the weighted samples to track a pool of 10 major cryptocurrency assets traded on Huobi paired with USDT in real time. Later the exchange fund using this index as a guide was launched and a month ago the commercial digital assets bank of Mike Novograc Galaxy Digital added the crypto-index to its terminal. Now the users of Bloomberg have the opportunity to track data on the trade of such coins as Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Ethereum classic, Ripple, Dash, EOS and Zcash. It also became known that Huobi had added the Waves cryptocurrency. The clients of the platform can already make deposits, the trade in pairs with bitcoin and ether will start tomorrow (June 22) at 11:00 Moscow time. The withdrawal of the funds will be available on June 24.

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