Interview: Dmitry Shyshov, Founder and CEO of the SocialMedia.Market Project

“We want to work in all global markets where influencer marketing is needed.”

On February 9 the SocialMedia.Market project launched its ICO, which has the potential to immediately transform the field of influencer marketing. On the eve of the introduction of their new token, the founder and CEO of SocialMedia.Market, Dmitry Shyshov, spoke about the present and future of this fairly new and rapidly growing marketing phenomenon, about the relationship between advertisers and bloggers, and about the new marketplace rules to be ushered in by the blockchain.

Q: Tell me more about your project. What exactly is SocialMedia.Market?

A: It is a solution for anyone who is interested in influencer marketing and wants to work with it. Our goal is to simplify the relationship between advertisers and influencers all around the world, to make the native advertising market on the most popular social platforms accessible to everyone, and to reduce the entry threshold for market newcomers., socialmedia

Q: What’s the matter with it? Do advertisers and bloggers have any trouble interacting currently?

A: Right now, if you want to place advertising on someone’s page on a social network, you will most likely be offered three solutions: to buy a database of influencers and then proceed on your own, use an automated advertising system with very limited functionality, or hire an agency manager who will then collect a database of influencers for you and allocate contracts among them without revealing to you their real value or letting you choose exactly how to promote your product. As you can see, none of these solutions are very convenient. And if you also happen to be a beginner, then there is the risk of your project simply getting lost in the shuffle, all while paying a great deal of money and not getting a return on your investment.

social media,

Q: What is the alternative that you offer?

A: We want to create a single platform for users with various levels of expertise, both in influence marketing and in blockchain technologies, where the rules of the game will be clear to everyone. This is an automated all-in-one solution that will focus on the search for, creation, implementation and analysis of influencer marketing for specific advertising campaigns.

Q: How will your client benefit from the creation of such a platform?

A: They will get access to popular bloggers on all major social networks, a convenient CRM-system that will reduce risks and save resources for the organization, performance and analysis of advertising campaigns, as well as the opportunity to make international payments using our tokens. The latter option is especially useful for partners working in different countries, where different payment systems are being used. In addition, the introduction of smart contracts and blockchain will make it possible to streamline partnerships, standardize work and ensure secure mutual settlements.

Q: Why have influencers become so sought-after in the advertising industry?

A: Because these people are trendsetters in the digital universe. They’re the ones who determine who will go and where, what they will play, wear, eat, and listen to in the near future. When a blogger has several hundred thousand or even millions of subscribers, and their audience idolizes her and is absolutely loyal to her opinion, this creates a superb opportunity for product promotion.

Q: How loyal is this audience?

A: According to our research, today about 70% of Internet users are willing to make a purchase based on the recommendation of a person they follow online. This is a very significant number.

Q: Do you already have a pool of influencers?

A: Yes, these are influencers in the gaming industry, with whom we work daily. We have several hundreds, and in some areas – more than a thousand.

Q: Are they willing to support the project?

A: Of course, for them, this is a great opportunity to focus on creating quality content without having to think about ways to monetize it. The latter is our job.

Q: Does your working with influencers in the gaming industry mean that you will continue to make this your area of focus?

A: The gaming industry was just our entry point into influencer marketing. We want to make it accessible for all medium-sized and niche businesses.

Q: The field of influencer marketing has been around for a while. Why did you decide to work specifically in this field?

A: To some extent, it happened spontaneously. Over the past four or five years, we have been promoting projects related to video games. When, in order to promote these projects, we began to communicate with influencers on YouTube, we saw that this type of advertising had enormous potential. That was how we came up with the concept of a service that would simplify the interaction between people within this market and that, ideally, would serve as a regulator of the interaction between advertisers and influencers. Initially, we were looking for such a solution on the market for ourselves, but not having found it, we decided to create one.

Q: What do you think the prospects are for influencer marketing? Where in this market do you see yourselves?

A: According to our estimates, by 2020 it will be about a 10-billion-dollar industry. We plan to first take our project to the markets in the US, UK, Canada and the CIS countries, then to introduce it to Europe and Latin America. By the end of 2019, we plan to be working globally in every sphere where influencer marketing is needed. Users of our platform will be able to interact with one another locally or create global advertising campaigns.

Q: What makes you so confident you will be able to achieve such rapid growth?

A: The fact that we are the first blockchain-based platform that will be working in the influencer marketing sphere, and the fact that the platform will become an open marketplace, offering services in analytics and measuring the effectiveness of advertising campaigns.

Q: What about the competition?

A: There are competitors, but they provide a limited set of services. There are agencies out there that also pay influencers using tokens, but they only specialize on Instagram, for example.

Q: What platforms do you work with?

A: We plan to work with influencers and bloggers on YouTube, Instagram, Facebook, Twitch, Twitter and other online platforms. Basically, we are focused on the entire online advertising market, marketing in the blogosphere, streaming services, and social networks.

Q: Why blockchain? Would it not have been simpler to offer your services on a turnkey basis and just charge people money?

A: Blockchain today is like the Internet in the late 90’s, when people suddenly had access to a single, global information space. Because all of our projects are aimed at the global market, this technology will help us streamline a great number of processes.

Q: Which ones?

A: First, as I have already mentioned, blockchain will resolve the issue of performing financial transactions between different countries. Second, it will create trust between the customer and the contractor at the stage when they have not yet worked together, and do not know what to expect from one another. This is one of the problems facing the market. Misunderstandings often arise between the customer and the contractor during the course of the work, the claims of one party result in the distrust of the other, and, as you can imagine, this isn’t great for business. For example, bloggers do not always understand how important certain keywords, labels or tags are to a customer. They either ignore them or place them too late when the main audience has already read the post or watched the video. The tools we offer make it possible to track the effectiveness of the advertising campaign.

Q: This is obvious to everyone who has ever dealt with SMM marketing, but can you tell me how blockchain technology is useful here?

A: Blockchain allows you to write the terms of the partnership agreement into the code, in the form of smart contracts, which then exist on blockchain and ensure that the conditions of the advertising campaign correspond to its cost. This is convenient for everyone: the customer can rest assured that his requests will be fulfilled on time, and the blogger can count on incentives. For example, if audience engagement with the project exceeds the declared KPI, then blockchain will allow additional bonuses to be provided to the influencer, encouraging him to do even better work. All of which makes the advertising campaign more effective.

Q: Tell us about your platform and its functionality.

A: With the help of the SocialMedia.Market platform, users will be able to plan and launch advertising campaigns, loyalty programs and referral programs to promote their product, as well as monitor their effectiveness and audience engagement. All processes after the launch will be automated, which will make the platform simple and convenient to use. For example, all information will be collected and analyzed using the Big Data and self-learning data analysis systems. In addition, we plan to implement neural network algorithms, which will allow us to determine the quality of content and eventually completely decentralize the relationship between advertisers and bloggers.

Q: Who are the people using your platform and purchasing your tokens? Can you already describe your client?

A: Of course. First, these are the influencers themselves, who, with the help of our platform, will strive to develop and monetize their web pages. Plus their subscribers, who will be able to use our tokens as voluntary donations, common in the blogosphere. Second, private entrepreneurs and representatives of small and medium-sized businesses or brands interested in promoting their product through influencers on social networks. Third, agencies and major brands, which are faced with the task of maximizing resources and managing advertising campaigns more effectively on social networks. Fourth, users who increase their assets through our Decentralized Dispute Resolution System.

Q: What exactly is this system, and what is its purpose?

A: As its name implies, this system was created to resolve disputes between customers and contractors. When a conflict arises, any of our clients will be able to take it to arbitration.

Q: And who will arbitrate between them?

A: Our token holders will be the judges. They will be able to familiarize themselves in advance with the details of the contract between the customer and the contractor and make a decision accordingly.


Q: Token holders?! That was unexpected…

A: Actually, there is nothing odd about this at all. Ask yourself this question: who, other than we, has the most vested interest in the platform’s proper functioning and successful development?

Q: Whoever is interested in the company and its success?

A: Exactly. This is why token holders will make the most objective and impartial judges. This is also important for making our users feel involved in the project and that they are helping to develop SocialMedia.Market through their participation in the resolution of disputes.

Q: Interesting approach. By the way, what do the owners of your tokens get? What services will be available to them?

A: Our token is called Social Media Token (SMT). It gives full access to all the services, tools and capabilities of our platform. Agencies and large advertisers who buy discounted tokens during the ICO will get more favorable terms for the purchase of advertising campaigns and the platform’s services. Individuals will be able to count on remuneration for participating in the Decentralized Dispute Resolution System as arbitrators. In addition, tokens can be used to pay for additional analytical services, Big Data analytics or for obtaining useful information on interacting and working with influencers.

Q: How do you plan on protecting your users’ private data?

A: All users of our platform have to be verified using blockchain technology, and bloggers will need to confirm that the channel or page on the social network really belongs to them. In addition, all interaction between users will be based upon smart contracts, and payments will be made only using the platform’s tokens. This will bring the risk of fraud down to a minimum.

Q: When will your ICO take place, and how long will it last?

A: The ICO starts on February 9, 2018, and will run until March 16.

Q: How much money do you plan to collect? What will this money be used for?

A: About $20 million. We are going to spend it on platform development, marketing and training campaigns, administrative and operational expenses, bonuses to agents and influencers, and legal expenses.

Q: What are your plans for after the ICO?

A: First, we need to finish the development of the SocialMedia.Market platform and effectively integrate blockchain technology in it. We plan on doing this by end of the summer-early fall of this year. Other equally important tasks are to collect money to promote and advertise our platform and expand the team, adding qualified specialists in product development, blockchain programming, and marketing. In addition, we plan to launch training campaigns for bloggers and advertisers about working with our platform and with influencer marketing, and also to sign partnership agreements with advertising agencies and popular bloggers.

Q: What is the token price during the ICO? How will your platform generate profits after the launch?

A: 2500 SMT to one Ethereum (ETH). By the way, our tokens will be compliant with the ERC20 Token Standard. First, using the 10% service fee for executed contracts. The platform will also provide a number of more in-depth analytics and product promotion services. These too can be purchased for additional tokens.

Q: Has the volatility of the cryptocurrency market affected the economy of the project in any way?

A: Yes, and it was for the better. When we first announced the project, Ethereum was at about $270. Now it is at about $1000 per unit, so, in terms of money, our original hard cap has increased significantly. As a result, we have decided to limit it not by the number of tokens sold, but by the number of ETHs – namely 16,000. We have also increased the number of SMT tokens to be exchanged for Ethereum, so now people who take part in our project will receive more tokens than originally planned. In addition, we recalculated the contributions of those who supported our project during the token presale and credited them with additional tokens.

Q: Can you talk more about the team behind your project? How many people are on the team, and what is their experience in fintech and blockchain? Does the project have any advisors?

A: The team in our Kyiv office now consists of more than 30 people who, for more than a year now, have been actively using cryptocurrency and new blockchain-based solutions and services in their everyday work. And yes, we have four advisors working with us. We are also currently negotiating with several key experts in blockchain and marketing.

Q: To summarize, I would like to ask: how do you envision the future of your project?

A: I hope it doesn’t sound like bravado, but by 2020 we plan to control 2-3% of the world’s influencer marketing industry.

Subscribe to our newsletter

The potential applications for blockchain technology are seemingly endless. Every day a new startup applies distributed ledger technology and smart contracts that underlie cryptocurrencies to a different world scenario offering new and innovative ways to streamline existing systems. Islamic charitable endowments, called waqf, are the latest to get the blockchain treatment.

According to reports Singapore based fintech firm Finterra has developed a crowdfunding platform that uses blockchain to create smart contracts that would be linked to specific waqf projects. A waqf typically involves donating a building, plot of land, or other assets for Muslim religious or charitable purposes with no intention of reclaiming the assets. The concept dates back over a thousand years peaking during the Ottoman Empire.

Islamic financial markets

The company hopes to provide a more efficient way of raising funds and managing the transfer of waqf which receive donations from Muslims for social projects such as schools, mosques, and charitable organizations. CEO Hamid Rashid told media;

“We are trying to change the financial terrain in its approach to crowdfunding and development of waqf,”

The company is hoping to target core Islamic financial markets in the Middle East and Southeast Asia where pilot projects are already being studied in Singapore, Malaysia and Indonesia. They hope to be up and running by June and will host a forum in Malaysia’s capital Kuala Lumpur in March. Waqf bodies in Brunei and India have already shown interest in the project.

Underused assets

Large portfolios of real estate, commercial businesses and other assets can be held in Islamic endowments. It has been estimated that as much as $1 trillion of assets is held in waqf globally.

Due to ineffective management, with some waqf requiring further donations to keep running, many assets are underutilized for the purpose for which they were donated. Blockchain could address this by tracking each contract electronically across the lifespan of the investment, increasing the efficiency of the potential of the asset.

The redevelopment of a school in Jakarta into a commercially viable property is one waqf project currently being studied according to Rashid. He hopes this will be the first of many to benefit from the blockchain revolution.

Most banks seemingly have no love lost for cryptocurrencies these days. With dozens of financial institutions opposing Bitcoin purchases, it is evident things are not looking good. In Europe, however, the situation is a bit different. Smaller banks are looking forward to giving investors access to cryptocurrencies without any major hurdles. Some even offer professional advice on initial coin offerings as well.

It is uncanny how fractured the banking sector really is in this day and age. Major banks firmly oppose Bitcoin and similar currencies for the most part. That is only to be expected, as the volatile nature of digital currencies is a major concern. Their smaller counterparts are not as narrow-minded, by the look of things. Even though regulators do not approve the concept of ICOs or Bitcoin, small banks tend to keep an open mind in this regard.

Cryptocurrency Will Thrive Thanks to Smaller Banks

Two banks which stand out in this regard are Falcon Bank and Vontobel. Both institutions are Swiss private banks, which allows them to buck the current anti-cryptocurrency trend. These two companies handle cryptocurrency-related investments on behalf of their clients as we speak. There’s also Fidor Bank in Germany and Liechtenstein’s Bank Frick which all provide similar services. For now, this positive momentum is limited to smaller banks, though.

Bank Frick’s Edi Wogerer explains the decision as follows:

“There are risks involved but there are also really big opportunities.We know what to do from a security perspective so this is a big opportunity for banks like us. Bigger banks were “scared” of cryptocurrencies because they don’t understand them, they feel threatened”.

It is a remarkable statement, but one that does ring true in a lot of cases. Cryptocurrencies are direct competition for banks,. Unfortunately, we need banks’ support to purchase cryptocurrency in a convenient manner. It is evident this uneasy situation may effectively split the banking sector into two camps. Those who allow customers to purchase Bitcoin and altcoins may see business pick up in the years to come. Smaller banks have a big role to play when it comes to cryptocurrency, that much is rather evident.

Innovations in technology have always resulted in changes in the way art is created and presented. Woven canvas resulted in mobile paintings, photography allowed for abstract compositions, electric light brought new ideas in color theory and now Blockchain technology is inspiring digital works.

Art and technological innovation are inseparable

As industry begins to implement Blockchain ledger technology to make business run more efficiently artists are examining the physical, monetary and theoretical aspects of art in the digital world.

In December of 2017 Distributed Gallery launched what they called The Ready Made token. Hosted on the Ethereum network this unique unit of cryptocurrency advertised as being designed by artist Richard Prince.

The fact that Richard Prince, a name that looms large in the international art world, was involved brought Distributed Gallery to immediate notice and established a new level of prominence to Blockchain based artwork.

“I have no idea what a blockchain is. That’s why I have one. Or not. I’m not sure. Maybe I do and don’t realize it. Anyway I still don’t know what it is.”

Richard Prince.

Unique works trade just like currency

The story quickly unraveled as the creator Olivier Sarrouy a philosophy and sociology professor at the University Rennes 2 revealed that he had appropriated the name Richard Prince to garner attention to their ready-made as part of a long tradition among artists of appropriating others work to push the boundaries of a genre.

The reveal happened as part of the Rare Digital Art Festival that took place in mid-January which focused on ‘internet assets that have previously been infinitely copyable (songs, memes, etc) and turn them into provably rare, tradable blockchain assets.’

The festival featured speakers involved in developing Blockchain based artwork in theory as well those who are already monetizing their creations.

Mack Flavelle the founder of CrytpoKitties, the closest thing to a Blockchain based fad outside of cryptocurrency itself to really take off was there. So was Jess Houlgrave who recently finished a dissertation at Sothebys Institute of Art on assessing the use of Blockchain in the art world.

As was Matt Hall one of the co-creators of crypto-punks; 10,000 unique algorithm characters that are traded on Ethereum platform. The first 9,000 of which were given away for free and are now trading at as much as 10 Ether or $13,500.

Regardless of the way that cryptocurrency as we know them today pan out in the near future, what no one disputes is that the technology on which they are based is going to be game-changing for business across the board and the art market will be no exception from that.

Key Highlights

  • ADA price is holding the $0.3400 support very nicely and is currently moving higher against the US Dollar (tethered).
  • There was a break above a connecting bearish trend line with resistance at $0.3625 on the hourly chart of ADA/USD (data feed via Bittrex).
  • The pair is likely to extend gains, but it won’t be easy for buyers to break the $0.4000 resistance.

Cardano price is slowly rising against the US Dollar and Bitcoin. ADA/USD must clear the $0.4000 resistance to gain further upside momentum.

Cardano Price Support

There was a slow and steady upside move formed from the $0.3200 low in ADA price against the US Dollar. The price traded above $0.4300 before correcting lower. The recent low was formed at $0.3395 from where the price started a fresh upside wave. A connecting bullish trend line with support at $0.3500 on the hourly chart of ADA/USD acted as a support.

The pair moved above $0.3600 and the 23.6% Fib retracement level of the last decline from the $0.4386 high to $0.3395 low. There was also a break above a connecting bearish trend line with resistance at $0.3625 on the same chart. However, the upside move was limited by the $0.3650-0.3700 area. Moreover, there was no complete test of the 38.2% Fib retracement level of the last decline from the $0.4386 high to $0.3395 low. It seems like the price is facing important resistance levels on the upside at $0.3800 and $0.4000. The $0.4000 level is also the 61.8% Fib retracement level of the last decline from the $0.4386 high to $0.3395 low.

Cardano Price Technical Analysis ADA USD

Therefore, a break and close above $0.4000 is needed for buyers to push the price further higher. On the downside, the $0.3400-0.3500 support zone is a decent buy area.

Hourly MACD – The MACD for ADA/USD is slowly moving higher in the bullish zone.

Hourly RSI – The RSI for ADA/USD is just around the 50 level.

Major Support Level – $0.3400

Major Resistance Level – $0.4000


Charts courtesy – Cryptowat, Bittrex

In a parody of the mid-1800’s gold boom techno miners are following their predecessors to the banks of the Columbia River to Mine Bitcoin.

Go west Young Man

The small town of Wenatchee in rural North, Western Washington State is being tagged in tech blogs and major network coverage as a hub of Bitcoin mining.

We may normally picture hanger sized buildings full of servers in industrial China when thinking of Bitcoin mines. Wenatchee though is a picturesque small town set along the banks of the Columbia River surrounded by the foothills of the Cascade Mountains.

And that location is exactly why it is becoming the Bitcoin mining boom town of America. There are several hydroelectric dams along the Columbia River that provides Wenatchee and the surrounding area with cheap electricity.

Electricity runs at 3-4 cents a kilowatt compared to the average cost in the US of 12 cents per kilowatt and the highest on the East and West coasts being around 20 cents, or Hawaii for that matter at over 30.

Cheap electricity, cool temperatures, and very fast internet connectivity.

This combination of cheap power and cool average yearly temperatures that keep the servers from overheating makes the area a very choice spot for mining.

“So we have not only low-cost electricity but also very good access to internet. People put those two together and think ‘opportunity for bitcoin’.”

Steve Wright, Director of Power.

Already home to a dozen of the largest Bitcoin mining operations in the country, with more scheduled to open up shop in late 2018, there has been no mention of any second thoughts due to the Dec. – Jan. price correction.

Malachi Salcido was one of the first to start mining in the Wenatchee region. His operation of 3 facilities currently mines 5-7 coins a day. Using 7.5 megawatts daily – enough to power 11,000 average homes – he is looking to expand his operation to mine 50 coins a day which would suck up an estimated 42 megawatts.

Local regulators have welcomed the mining operations but say at this point the town and more specifically the infrastructure to deliver the huge amount of electricity mines need is at capacity.

Though the electric is cheap Salcido’s monthly bill still exceeds $100,000. To him its worth it. He sees mining Bitcoin as not only a profitable business but also building part of the future.

“We mine bitcoin because bitcoin blockchain is becoming the cashless, peer-to-peer payment settlement system of the future. This is a true peer-to-peer settlement tech that once it’s mature is going to significantly disrupt these existing markets.”

Salcido said.

A relatively obscure Italian cryptocurrency exchange is claiming a major hack involving Nano tokens but critics are calling it an exit scam.

Another multi-million dollar hack?

Bitgrail claims it was hacked last week of 17 million customers owned Nano Tokens equal on the day to about $195 Million dollars. Bitgrail was one of the main portals for trading the Nano token, previously known as RaiBlocks.

The claim made by founder Francesco Firano has been met with serious skepticism though created in part by suspicious moves made by Bitgrail itself. In January the exchange put a halt to all withdrawals and deposits of Nano, Lisk, and Crytpoforecast tokens. Then they announced identity verification and anti-money laundering protocols and the possibility of blocking non-European users.

These moves generated rumors that the site was setting up what some call an exit scam causing the price of the Nano to drop by 20%. In the wake of the alleged hack, Firano asked the developers of the Nano token to ‘fork’ their records. That is to change the transaction records in order to restore the lost tokens.

The Nano team immediately took to social media to quash the suggestion that the loss was due in any part to their tech.

“…Firano informed us of missing funds from BitGrail’s wallet. An option suggested by Firano was to modify the ledger in order to cover his losses — which is not possible, nor is it a direction we would ever pursue,”

Followed shortly by this tweet;

We now have sufficient reason to believe that Firano has been misleading the Nano Core Team and the community regarding the solvency of the BitGrail exchange for a significant period of time.

Hack, scam or bug?

The implication was that Bitgrail had mismanaged customer funds and was claiming they had been hacked in order to cover up their mistakes.

Since the initial announcement Firan who tweets @bomberfrancy has continued to put the blame on the Nano developers and claims that he has had several death threats made against him by irate customers who are left holding the bag.

The latest word though is that there was a withdrawal bug that was crediting customers with a double balance allowing thefts to diminish the wallet over months. Traders took to the Twitterverse to connect the bug with the exist scam theory, some saying that bugs like that would most likely be recognized and exploited by someone on the inside.

“Whoa, if true, this is mind boggling. It’s the equivalent of “you have access to the entire working capital of our bank. please check your own balance and don’t draw more than you should.”

Tweeted Cornel Professor Emin Gun Siren.

Key Highlights

  • Ripple price recently corrected lower and found support near the $0.8400 level against the US dollar.
  • There is a crucial bullish trend line forming with support at $0.9350 on the hourly chart of the XRP/USD pair (data source from SimpleFx).
  • The pair may continue to rise in the near term and it could gain upside momentum above $1.0000.

Ripple price is slowly moving higher against the US Dollar and Bitcoin. XRP/USD looks set to gain upside momentum once there is a break above the $1.0000 level.

Ripple Price Support

After trading above the $1.1700 level, Ripple price faced sellers and started a downside move against the US Dollar. The price declined and traded below the $1.0000 and $0.9000 support levels. The decline was substantial, but the $0.8400 area managed to act as a strong support. XRP found bids near $0.8400 and $0.8500, and later it started an upside move.

There was a break above a bearish trend line with resistance at $0.9200 on the hourly chart of the XRP/USD pair. The pair also moved above the 23.6% Fib retracement level of the last decline from the $1.1755 high to $0.8398 low. At the moment, the price is trading just around the $1.0000 level and is currently facing resistance. Once there is a break above the $1.0000 level, there could be more gains. An intermediate resistance could be the 50% Fib retracement level of the last decline from the $1.1755 high to $0.8398 low at $1.0076.

Ripple Price Technical Analysis XRP USD

On the downside, there is a crucial bullish trend line forming with support at $0.9350 on the same chart. As long as the trend line support and the $0.8400 level is intact, the price remains in an uptrend.

Looking at the technical indicators:

Hourly MACD – The MACD for XRP/USD is slowly moving higher in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently well above the 50 level.

Major Support Level – $0.9000

Major Resistance Level – $1.0000


Charts courtesy – SimpleFX

Key Highlights

  • ETH price has formed a decent support base at $770 and is currently moving higher against the US Dollar.
  • There was a break above a short term bearish trend line with resistance at $800 on the hourly chart of ETH/USD (data feed via SimpleFX).
  • The pair is likely to gain upside momentum and it could soon move above the $860 resistance.

Ethereum price is moving nicely in the bullish zone against the US Dollar and Bitcoin. ETH/USD is currently gaining pace and it could move above the $860 level.

Ethereum Price Support Base

There were a couple of swing moves in ETH price from the $840 level against the US Dollar. The price traded towards the $760-770 support area where buyers prevented declines on many occasions. A support base was formed near $770 and the price started an upside move. It traded above the $780 resistance and the 23.6% Fib retracement level of the last decline from the $897 high to $768 low.

More importantly, there was a break above a short term bearish trend line with resistance at $800 on the hourly chart of ETH/USD. The pair is now closing towards the $840 resistance and is currently trading near the 100 hourly simple moving average. At present, the pair is testing the 50% Fib retracement level of the last decline from the $897 high to $768 low. A break above the $840 and $850 resistance levels could ignite further gains in the near term. The next resistance could the $890 zone and the $897 high.

Ethereum Price Technical Analysis ETH USD

On the downside, an initial support is at $800 and the 100 hourly SMA. However, the most important support remains near the $760-770 zone.

Hourly MACD – The MACD is moving higher and gaining pace in the bullish zone.

Hourly RSI – The RSI has just moved above the 50 level and is gaining momentum.

Major Support Level – $770

Major Resistance Level – $850


Charts courtesy – SimpleFX

The first law of Thermodynamics states “Energy is neither created nor destroyed. It simply transforms itself from one form to another.” Nowhere is this law better applied than in the case of 4NEW, the world’s first waste to energy power plant entirely integrated on the blockchain.

When interviewing for this story with the founder, Mr. Varun Datta, the elegant architecture of the 4NEW vision became crystal clear. Most companies tend to take a two-dimensional view at solving a problem. For example, if there are energy inefficiencies within the marketplace, as is the case with our world today, then exchanges prop up to help alleviate inefficiencies by matching buyers to sellers and acting as an intermediary. While there is great scalability in this business model, nevertheless, its impact is limited to creating efficiency. This business model is similar to that of Dell Inc., whereby inventory is matched with a real-time order book thereby limiting the need for inventory management or storage. Nevertheless, while scalability is the strength of this business model, lack of long-term retention of the customer base is its weakness.

In contrast, 4NEW’s view is that of building an ecosystem. 4NEW’s business model resembles that of Apple Inc, where you have the ability to avail numerous services all powered and sustained by the 4NEW power plant entirely dedicated to its blockchain. This comprehensive, encompassing approach to sustaining the blockchain was exactly why the blockchain came into existence in the first place. Armed with the ability to provide free energy through its Waste to Energy power plant, 4NEW is equipped not only with the first mover advantage but also an unmatchable competitive edge that will propel the company into cementing itself as one of the dominant players within the crypto-community.

4NEW’s coin, KWATT, which is currently undergoing an ICO, will be in utilization by healthcare companies, money transfer companies, and telecommunication companies all slated for active operations upon completion of 4NEW’s blockchain this spring. Moreover, there is significant interest from other industry actors that don’t care for ICOs but rather be integrated on a blockchain that is truly energy efficient for long-term sustenance. This comprehensive, encompassing, energy efficient blockchain solution is what will catapult 4NEW to become a one-stop shop just as Apple Inc has become in our lives.

4NEW’s waste to energy power plant will be installed and in operational use by summer this year. As we are all aware, energy consumption is at the heart of all problems related to cryptocurrencies. Revenue generated from the collection of waste truly allows 4NEW to not only generate and produce free energy but also solve two global crisis’, Waste Surplus and Energy Shortfall.

Since 4NEW acts as a producer of energy, they own the energy they produce, unlike other players who may rely on power plants like 4NEW to provide them with energy. In this capacity, 4NEW is not only a pioneer at tokenizing electricity, however, they are also the first infrastructure project dedicated to the blockchain. In the evolution of cryptography, it is finally refreshing to see the next leap forward, whereby free energy will power the next wave of blockchains which will inherently enable widespread and mainstream adoption of the blockchain at a nominal cost.