Daily Email 05-22-19

Coin Profits Daily

Tierion (TNT)

Tierion works by creating a proof that links data to a transaction on a blockchain. This is called anchoring. It has a market cap of $13.5 million, a circulating supply of 428.4 million and has traded over $21.2 million in the past 24 hours according to CryptoSlate.com.

TNT/BTC is breaking through a resistance area near 0.00000365 as it approaches the 61.8% Fib level of the April swoon. A close above 0.00000420 is an indication that the price will retest the March 31 high near 0.00000550. A potential stop could be placed below the now projected support at 0.00000365.

New to Know

Tether (USDT) Admits to Investing Reserves in Bitcoin and “Other Assets”
Tether’s struggle to prove that it is indeed fully backed continues to be dealt blows in the ongoing court case against the company and Bitfinex exchange. Previously, the issue of the stablecoin said that Tether is not 100% backed by the US dollar reserves. While in court, the attorney representing Bitfinex admitted that some of Tether’s backing funds have been invested in Bitcoin and “other assets.”

Ethereum 2.0 Testnet Went Live: ETH Price Completes 50% Increase Since Then
The crypto space has been buzzing lately with talk of an “Ethereum 2.0.” As of now and starting from the beginning of May 2019, the Ethereum 2.0 testnet is live, touting staking ability for participants. In a recent post by Prysmatic Labs, Co-Founder Preston Van Loon announced the launch of “a public testnet for Ethereum 2.0’s proof of stake beacon chain to the community.” Ethereum 2.0 has been in the works for multiple years, looking to build “a fully decentralized, permissionless platform for programmable cryptocurrency,” Van Loon explained.

ECB Praises Cryptocurrency—Sees Future in Stablecoins
The European Central Bank (ECB) has made it clear that it does not regard cryptocurrencies as a threat to financial stability in Europe. The Central Bank has highlighted the importance of crypto assets on economic advancement and monetary policies in the region in a recently released paper called “Crypto-Assets: Implications for financial stability, monetary policy, and payments and market infrastructures.”

Nabbed! SEC Reels in $30 Million Alleged Diamond-Backed Crypto Scam
The U.S. SEC has secured a court order to stop an alleged diamond-backed Ponzi scheme estimated to be worth around $30 million. The securities regulator outlined how more than 300 investors were fleeced into handing over funds to Florida-based Argyle Coin LLC.

Ethereum (ETH) Sentiment Score At 5-Month Highs
The general opinion score revolving around Ethereum (ETH) has been increasing, and its currently at a 5-month high. Data provided by enroyd, a sentiment analysis platform, captures the monthly ETH sentiment score at 0.179 as of April 30. This is a huge increase considering that the score was below 0.156 in the whole of January this year.