Telegram Promises ICO Investor Refund or Maybe Not

Telegram has announced it will give a full refund to investors if the TON platform doesn’t launch by October 2019. At the same time the company also issued a document that negates the promise.

Refund Guaranteed, or Not

The messaging app operator that raised $850 million from institutional investors in a private sale, and is now looking to double that with a second sale at the end of February, is so confident of success it has promised a refund if they fail to launch by October 2019.

Funding from the initial round of investors would already have made the Telegram launch the biggest ever. At over a billion and a half, it will dwarf the previous largest launch by Tezos which raised $232 million.

The company plans on using capital from its ICO to build a Platform to rival Ethereum. The Telegram Open Network or TON is scheduled to be an ecosystem that supports apps, services, and a store for both physical and digital goods.

While in one document sent to potential investors the claim was made that if the product didn’t launch by October 2019 it would refund their investment. In another, the claim is completely refuted, as quoted below.

“There can be no assurance that the Issuer or Telegram will have sufficient funds to make payments of any Termination Amount (as defined in the Purchase Agreements) as and when required under the terms of the Purchase Agreements. Neither Telegram nor the Issuer has any fiduciary or other obligation to use the funds generated by the token sale for the benefit of the purchasers…”

This contradiction comes after an already highly criticized ICO schedule and white paper experts have found wanting.

Refund Confusion One of Many Criticisms

CEO Pavel Durov’s idea of an ICO is a departure from the norm as only accredited investors were invited to both the initial and second rounds of funding. This method more closely resembles the traditional venture capital form of fundraising when most of the discounted product is sold to private firms before the public round opens.

In addition to the ‘private’ ICO the company’s own technical white paper has raised eyebrows with its claims. The document describes it’s platform’s offerings as including document storage and DNS services and predicts it will be able to make millions of transactions per second but with no details on how.

For Durov the second sale makes perfect sense considering the success of the first and rumors that early investors are already flipping their shares for double what they paid should bring plenty of money to the table. As far as the refund statement goes, as Joe DiPasquale of BitBull Capital said “If they can raise $2 billion then it’s almost a guarantee the token will launch,”

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Key Highlights

  • Ethereum classic price remains in a positive zone above the $33.00 support against the US dollar.
  • There is a crucial declining channel forming with resistance at $35.20 on the hourly chart of the ETC/USD pair (Data feed via SimpleFX).
  • The pair must break the $35.00-35.20 resistance area to gain upside momentum.

Ethereum classic price is placed nicely above supports against the US Dollar and Bitcoin. ETC/USD has to surpass the $35.00 resistance to trade further higher.

Ethereum Classic Price Upside Hurdle

There was a slow and steady decline initiated from the $38.20 swing high in ETC price against the US dollar. The price traded below the $36.00 support level and tested the $33.00 support. Later, a support base was formed and the price corrected higher above the $33.50 level. It even traded above $35.00 and formed a high at $35.88 recently.

However, the upside move was capped by the $35.80 and $36.00 resistance. At the moment, there is a crucial declining channel forming with resistance at $35.20 on the hourly chart of the ETC/USD pair. The pair declined recently and tested the 50% Fib retracement level of the last wave from the $32.93 low to $35.88 high. The downside move was limited below the $34.00 level. Moreover, the 61.8% Fib retracement level of the last wave from the $32.93 low to $35.88 high is also a decent support on the downside.

Ethereum Classic Price Technical Analysis ETC USD

It seems like ETC needs to move above the $35.00 and $35.20 resistances to gain upside momentum. Once there is a close above $35.00 and the channel resistance, there could be an upside move towards $36.00 and $38.00. On the downside, the $34.00 level is a decent support. Below $34.00, the $33.00 level is a significant support.

Hourly MACD – The MACD for ETC/USD is reducing its bullish slope.

Hourly RSI – The RSI for ETC/USD is currently just above the 50 level.

Major Support Level – $33.00

Major Resistance Level – $35.20


Charts courtesy – SimpleFX

Over the past few years, the reputation of the UK’s National Health Service (NHS) has suffered owing to highly publicized reports of cyber attacks, patient data breaches and errors that may have led to the losses of thousands of lives. Now, however, a solution may be close at hand. The MediChain Medical Big Data Platform has plans to protect electronic health records (EHR) and electronic medical records (EMR) that will empower patients, provide added security to EHR and EMR data and minimize costly mistakes.

In May 2017, parts of the NHS were brought to a complete standstill by a cyberattack that exposed the vulnerabilities of the IT systems used by the UK’s publicly-funded health care provider. The hospitals discovered that their Windows computers had been infected by the WannaCrypt malware virus, which also issued ransom demands if they wanted to regain access. The ransomware was fortunately stopped by one blogger. However, in October 2017 one of the same hospitals was struck by the virus again.

In a bid to allay tension, NHS Digital, the IT arm of the NHS, announced a GBP 20 million contract in November 2017 to secure the support of “ethical hackers” to prevent further attacks. However, such attempts to ease the concerns of patients about the safety of their personal medical data were undermined in January 2018 when a university health board in Wales had to apologize unreservedly to 41 patients, whose files had been illegally accessed by an administrative hospital worker. And this is not the first incident – a nurse illegally accessed the data of 3,000 patients over a two-year period in another Welsh hospital.

Luckily MediChain’s platform may be able to alleviate patient concerns. The company’s blockchain involves the creation of a compliant cloud where patients can store their medical information and control the actual data they share with doctors, hospitals, and other parties. As MediChain CEO Doctor Mark Baker puts it: “We will not only put patients in charge. Now, whenever new information is added about a patient, due to surgery, a consultation or prescription, the patient will decide independently what to include on his or her record, through an app, for example, adding a reference or ‘pointer’ to our Ethereum blockchain.”

Moreover, the medical blockchain enables the entry of crucial information off-chain. Dr. Baker highlights one of the key benefits of the off-chain aspect of the system: “Our blockchain ecosystem indexes highly sensitive patient data using a cryptographic database maintained by a computer network that is virtually incorruptible. In addition, the permission of the patient is required to access specific cryptographic keys.”

The system also helps to resolve another failing that has been plaguing the NHS – life-threatening mistakes. In late February 2018 UK Secretary of Health Jeremy Hunt declared that the government would do its best to cut the number of deaths caused by prescribing or issuing the wrong drugs to patients. This followed the release of government-sponsored research indicating that the deaths of up to 22,000 people in the country might be due to such errors, and that general practitioners, hospitals, care homes and pharmacists might be making 237 million errors each year.

Doctors logging onto MediChain’s platform, even from different hospitals, or patients themselves using smartcards, enter the information onto the same blockchain. Dr. Baker notes: “This information becomes part of the patient’s off-chain record. As the patient will now be in control and information will be shared securely between general practitioners, hospitals and patient, this might reduce the risk that the wrong drugs are dispensed and save lives lost needlessly.”

VeChain has enlisted the powerful imagery of a Nordic God to transform its brand to VeChain THOR. The company made the announcement yesterday along with a host of new partnerships at a re-branding event.

VeChain to Rebrand as VeChain THOR

The presentation was made to a select audience but streamed live on YouTube. Starting off with imagery that looked like a melding of The Lord of the Rings and Blade Runner the video, which runs for about 38 minutes, outlines the re-branding of Vechain as well unveiling its new partnerships.

VeChain’s cryptocurrency, VEN, had a strong showing in early 2018 making an increase of 500 percent in value. This alone puts VeChain in the top 5% of cryptocurrency performers so far for the year.

VeChain owes its success in part to offering a use case that differs from most cryptocurrency. Instead of being a dark coin designed to hide transactions VeChain is known as a white coin.  A white coin is meant to increase the transparency of transactions thus creating  “a trust-free and distributed business ecosystem to enable transparent information flow, efficient collaboration, and high-speed value transferring.

This use case which may appeal especially to producers and consumers of luxury goods could be what put VeChain together with BMW officially just hours before the announcement of their re-branding.

New Partnerships Show Strong Support

In addition to the BMW partnership, VeChain has also announced a collaboration with the University of Oxford aimed at assisting the development of the VeChain THOR platform. South Korean Exchange Coinnest also added VeChain to its trading platform in a direct fiat to VET exchange adding an extra bit of stature to the re-branding of its token.

VEN, in theory, could be used to track the authenticity of goods through the marketplace to the purchaser. This is a great reassurance in a world full of fakes, and something impossible to do with traditional currency.

The same tracking technology can be used in the seafood industry to ensure fish are being sourced in legal locations and using humane practices. In order to make this end-to-end transparency happen a microchip has to be installed in each product to be logged in the distributed ledger.

As VeChain becomes VeChain THOR and VEN is listed as VET their blockchain will run on a two-coin system. THOR will be a separate product from VET which can be acquired through the staking of VET in a wallet. Full instructions and usage is available at the THOR calculator website.

By adding the prestige of BMW and the accolades of Oxford University there is little doubt that as VeChain takes up the hammer of the gods as VeChain THOR, it will continue to grow as resiliently as it started.

Image courtesy: YouTube

Polymath is a blockchain-based platform that aims to link traditional financial securities with blockchain technology. From creation to issuance, to fundraising, Polymath guides issuers through the complex tech and legal process of a successful token launch. Some of the targeted securities for the Polymath platform include assets from the worlds of private equity, debentures, derivatives, and venture capital.

The Background

Today, the launching of a securities-backed token is a difficult experience. Not many ecosystems are available for this purpose. Moreover, users have very limited number of compliance mechanisms in place. It’s difficult for the company to securely link assets to the blockchain without affecting compliance or the security of the assets themselves. Even when securities are listed on the blockchain, they have limited liquidity since conventional crypto exchanges refuse to list securities tokens, due to the fear of being targeted by regulators.

How Polymath Addresses These Challenges?

Polymath serves as a one stop shop for securities token projects. The platform is embedded with all of the following features in mind that tackle the mentioned challenges successfully:

  • Collaboration: An active global community
  • Regulatory: Polymath offers compliance in a box
  • Creation: Launch a securities token (ST) within minutes
  • Fuel: The network is fueled by the PLY token
  • Liquidity: Polymath intends to be the world’s first ST-only exchange

See how it works here.

The Exclusive Features

Polymath is based on four layers to develop its securities token ecosystem:

  • Protocol Layer:

The compliance begins at this layer. This layer uses an Ethereum smart contract to offer KYC/AML accreditation from the ground up.

  • Application Layer:

The application layer enables the companies to develop a securities-backed token in a matter of minutes. The platform has a “Create-A-Security-Token Wizard” to walk users through the entire process.

  • Legal Layer:

This layer includes a collection of legal tools companies can utilize to ensure they meet compliance standards. Regional delegates serve as legal touch points for Polymath projects, helping walk companies through the entire process.

  • Exchange Layer:

The Polymath Exchange Layer is the closed-ended KYC compliant on/off ramp to the Polymath ecosystem. It offers instant liquidity through an ST-only exchange.

The Polymath Token (POLY)

The Polymath Token (POLY) is a utility token for issuers, investors, and developers. The token is used to access, use, and further develop the Polymath network. Issuers pay only a POLY fee to create and issue securities tokens. Investors pay a POLY fee for KYC/AML verification, and to interact with the Polymath network (buying, selling, and trading STs will incur a POLY fee). Developers, meanwhile, receive POLY to continually evolve the network.

To know more about the platform and invest in Polymath Tokens, please visit You may also access the Whitepaper or get connected to the team at Telegram.

Key Highlights

  • Ripple price was able to move above the $0.8400 resistance against the US dollar.
  • There was a break above a significant bearish trend line with resistance at $0.8450 on the hourly chart of the XRP/USD pair (data source from SimpleFx).
  • The pair is now placed nicely above the $0.8600 support and the 100 hourly simple moving average.

Ripple price is gaining pace against the US Dollar and Bitcoin. XRP/USD seems to be back in the bullish zone with resistances on the upside at $0.8900 and $0.9000.

Ripple Price Support

There was a support base formed in Ripple price above the $0.8200 level against the US Dollar. The price started an upside move and succeeded in breaking the $0.8400 resistance. There was also a break above the 50% Fib retracement level of the last decline from the $0.9320 swing high to $0.8195 low. More importantly, there was a break above a significant bearish trend line with resistance at $0.8450 on the hourly chart of the XRP/USD pair.

The pair climbed higher and it was able to settle above the $0.8600 support and the 100 hourly simple moving average. The upside move was stalled near the 61.8% Fib retracement level of the last decline from the $0.9320 swing high to $0.8195 low. At the moment, the price is currently consolidating in a range above the $0.8600 support. The broken resistance at $0.8600 and the 100 hourly SMA are acting as a supports and are preventing declines.

Ripple Price Technical Analysis XRP USD

As long as the price is above $0.8600 and the 100 hourly SMA, there could an upside move in XRP/USD. A break above the $0.8900 and $0.9000 resistance levels could clear the path for more gains.

Looking at the technical indicators:

Hourly MACD – The MACD for XRP/USD is now back in the bullish zone.

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

Major Support Level – $0.8600

Major Resistance Level – $0.9000


Charts courtesy – SimpleFX

Other than LTC/USD, NEO, EOS, Lumens and even IOTA are moving higher.

Even though yesterday’s lower lows in LTC should be a wonderful buying opportunity for buyers, sellers should be cautious and place stops above yesterday’s highs at around $220.

Other than that, EOS is on the upside and the bounce from previous resistance-now support has been spectacular.

Let’s have a look at these charts:


XLM/USD Technical Analysis
XLM/USD 4HR Chart for February 27, 2018

Some positive price movements from yesterday’s Lumens price action.

Even though I cannot really recommend entry for positional buyers until after a convincing break above $0.4, there is a reason for scalpers to fine tune their long entries in lower time frames.

In fact they can enter in the 4HR chart now that there is a bullish break above the middle BB. Good move but that is still below the middle BB and $0.40 in the daily chart. However, spreading long entries with every dip of prices can be a good strategy in the mean time.


IOT/USD Technical Analysis
IOT/USD 4HR Chart for February 27, 2018

Prices remain resilient and even after those emails, buyers are still confident with IOTA’s hashing function.

Anyway, here is the thing, technically, prices look to be on an uptrend and supporting this is the shift of buy momentum as bulls are looking for a break above the middle BB and $2 today.

When we zoom in and check price movement in the 4HR chart then we can see that how significant $1.75 and the 20 period MA have been since that bullish break out on February 24. I will recommend buys with immediate targets of $2 and $2.5 in the short term.

Stop loss should remain at around $1.70 which is below our immediate support in the 4HR chart.


EOS/USD Technical Analysis
EOS/USD 4HR Chart for February 27, 2018

After 12 days of bearish pressure, EOS seems to be on a recovery path. Remember on February 14 we had this nice bullish break out and what happens in such set ups is that prices tend to retrace. It did move lower.

However, look at how that break out line, the previous resistance now support trend line, is shoring prices? Fact is, with this strong bullish candlestick pushing above the 20 period MA and $8, buyers can trigger long positions and place their stops at around $7 which is just below yesterday’s low.

It is likely that the retest phase is over and we are in the early stages of a phase 3-the trend resumption phase and if that is the case, then prices should move higher today. In this case, I place a conservative bull target of $10 which is slightly above February 15 highs.


LTC/USD Technical Analysis
LTC/USD 4HR Chart for February 27, 2018

After yesterday’s ceiling at around $220 or the 50% Fibonacci retracement level in the daily chart, we can as well pause and exit our long positions.

There is a likelihood that we are right in the bear resumption if price action and patterns in the 4HR chart is something to go with.

Notice that prices are reversing right at the support trend line of a previous bull flag and after bear pressure confirmation, sellers might take the lead and drive prices back to $200 or February 18 lows of $180.

Of course this is for scalpers with stops above $220 but long term traders should stay out of this trade and look to buy at last week’s lows of $200 or even $180.


NEO/USD Technical Analysis
NEO/USD Daily Chart for February 27, 2018

From our previous forecast, yesterday’s strong push above $130 meant NEO bulls can enter this trade.

You see we have a clear push of that in the 4HR chart and even in the daily chart where the past 3 or 4 days of price consolidation became a catapult for prices.

Place stops at $120 and target January 29 highs of $170 or there about.

All charts courtesy of Trading View

Cryptocurrency will close out its first decade in 2018. For some out of the loop this will be a surprisingly long time but for millennials and early adopters, it probably seems more like the shift from BC to AD.

Technology develops and is integrated into our lives at such an advanced rate that it is hard to imagine life before say the iPhone, which turned ten last year. For millennials, the first generation of humans to grow up with digital technology as an everyday part of life there is no separation between living, working, playing and interacting with one’s device.

Cryptocurrency a Natural Fit to Millennial Lifestyle

Growing up in the digital era seems to have given millennials a different perspective on ownership of goods than generations going back to the industrial revolution. With every form of information and entertainment digitized and streamable there is no need for bookshelves, houses get smaller, for many, the idea of owning a car is ridiculous when you can order one from an app.

The idea of a non-tangible decentralized currency fits easily into a reality where most of your friends exist on the internet and many of them half a world away. While even GenXers may fear plunging into markets that can change dramatically over the course of a day it can seem natural to person who garnered several hundred thousand views on YouTube for a cat video.

Future on the Blockchain

There is so much talk today about blockchain technology being as disruptive to  existing networks as the internet was twenty years ago there is no wonder that top universities are struggling to meet student demand for classes exploring it.

Companies like StormX are looking to utilize blockchain to change the nature of the still infantile gig economy. CEO Simon Yu sees millennials freeing themselves to work wherever, and whenever they want on his platform. It will not only pair specialized jobs with experts but facilitate the payment in cryptocurrency, he stated;

“The reality of the mainstream side hustle is often high freelancer fees, high operating fees, and many opportunities can be more trouble than they’re worth,”

Just now most of the focus is still on cryptocurrency and the volatility of the markets and when the bubble is going to burst. For those looking towards the future though these are just growing pains. The planners see blockchain changing the way existing industries do business. Everything from international transport to rental contracts may soon be registered on decentralized ledger networks.

Law firms, hospitals, governments will very likely be implementing blockchain networks to store and move information around the world providing the ability to pull up a doctors visit from the past or pay taxes on a smart phone.

For those a bit older, investing in cryptocurrency or believing in something called blockchain to store a life’s worth of information can be an intimidating prospect. Taking a day to read about and explore cryptocurrency maybe all it takes to get comfortable with buying some crypto and relying on the blockchain. Information tends to calm all fears.

Key Highlights

  • ETH price was able to move higher and it recently traded above $845 against the US Dollar.
  • There was a break above a major bearish trend line with resistance at $837 on the hourly chart (data feed via SimpleFX).
  • The pair traded as high as $869 and it is currently correcting lower towards the $850 support.

Ethereum price is back in action against the US Dollar and Bitcoin. ETH/USD must stay above the $845-850 support to move further higher in the near term.

Ethereum Price Support

Yesterday, I mentioned that there could be more gains above $840 in in ETH price against the US Dollar. The price did make an upside move and it was able to trade above the $840 and $845 resistance levels. There was also a break above a major bearish trend line with resistance at $837 on the hourly chart. It cleared the path for more gains and the price settled above $850 and the 100 hourly simple moving average.

A high was formed at $869 from where the price started a downside correction. It is currently just below the 23.6% Fib retracement level of the last leg from the $86 low to $869 high. On the downside, there is a major support above the $840 level. There is also a bullish trend line forming with support around $845. Moreover, the 50% Fib retracement level of the last leg from the $86 low to $869 high is near $840. Below $840, the 100 hourly SMA is positioned. Furthermore, there is another bullish trend line forming with support at $828.

Ethereum Price Technical Analysis ETH USD

Therefore, there are many supports on the downside starting with $845 and up to $828. On the upside, the recent high near $869 is a short-term resistance, followed by the $900 level.

Hourly MACD – The MACD is slowly moving in the bullish zone.

Hourly RSI – The RSI is moving lower towards the 50 level.

Major Support Level – $840

Major Resistance Level – $870


Charts courtesy – SimpleFX

FOMO Moments

The markets are looking a little healthier during this morning’s Asian trading session. Bitcoin has rallied by 6.3% back over $10k and the altcoins have been lifted with it. Most of them are in the green this morning and as usual one is doing better than the rest in the top 25. The coin of the moment is Neo.

Coinmarketcap has Neo trading at 17% higher than this time yesterday. It is a fraction over $140 from $119 this time yesterday which is quite a significant price jump. Looking at the seven day chart Neo has rebounded back to its price this time a week ago, and over a month it is up marginally but still a way to go to reach its monthly high of $168 on January 30.

Often referred to as the Chinese Ethereum, Neo is a smart economy based dApp platform. The team is very active with developer conferences and community meetups held across the world every few weeks. Compared to other altcoins, Neo has been very stable and pretty much trending upwards for the past three months. The launch of the Neon Exchange ICO next month could further boost the prices of Neo and its sibling Gas which is also up 13.4%.

Neo is being adopted on more exchanges across the world and has moved up to seventh position in the market cap charts, surpassing Cardano and Stellar which have both been on a downward slide for the past six weeks. Neo’s market cap is just over $9 billion, $441 million has been traded in the past 24 hours, mostly in Asia on Upbit and Binance.

Other altcoins showing double figure gains during the Asian trading session this morning are Qtum and Nano.

More on Neo can be found here:

FOMO Moments is a section that takes a daily look at the top 25 altcoins during the Asian trading session and analyses the best performing one, looking for trends and fundamentals.