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Quantum Breakthrough: Scientists At Raman Research Institute Achieve Key Milestone In Pursuit Of Secure Satellite-Based Communications – Swarajya

April 7, 2023 | Author: admin

In October 2019 a sensational announcement by Google claimed that it had achievedQuantum Breakthrough it had developed and harnessed a quantum computer to solve a problem in seconds, that would have taken conventional computers hundreds of years.

Ever since, there has been a global race among a handful of nations to harness quantum computing to further their own development goals.

India embarked on its own national Quantum-enabled Science & Technology (QuEST) programme and a key priority was the harnessing of Quantum technology fordeveloping highly secure and encrypted communication systems. (What is Quantum Computing and Quantum communication?See primer at end of this article).

That mission was brought a step closer to fruition last week, by ateam of researchers at the Raman Research Institute (RRI) in Bengaluru.

Founded in 1948 by the Indian physicist and Nobel Laureate, CV Raman, the institute since 1972 has functioned as an autonomous research institution of the Government of Indias Department of Science and Technology (DST).

Working in collaboration with the U.R. Rao Satellite Centre of the Indian Space Research Organisation (ISRO) also based in Bengaluru,a team at the Quantum Information and Computing(QuIC) Lab ofthe RRIhas successfully demonstrated a secure channel of communication between a stationary source and a moving platform.

The significance of this breakthrough cannot be overstated:

Just over a year ago the same team demonstrateda similar communication channel between two fixed locations on campus.

By improving on this, to make one of the locations mobile,the researchershave now brought closer,their eventualmission of a secure quantum communication channel between a fixed station on earth and an orbiting satellite.

To maintain communication with a moving platform,the QuIC team developed a Pointing, Acquisition and Tracking (PAT) system, for the stationarysourcewhich must at all times remain in the Line of Sight of the moving platform.

This in itself is not unusual and is a feature of satellite communications.

What is unique to the RRI work is that it established a secure linkbetween fixed and moving stations, using what is known as Quantum Key Distribution (QKD). This is the first time this has been achieved in India, saysproject leader, Urbasi Sinha.

She explains To mimic satellite motion, we progressed from a home-built linear track to a circular track and then built an entire moving vehicle carefully aligned to the receiver.

Why QKD?

Classical cryptography the coding and decoding of messages, as practiced today involves encrypting and sending a message and then decrypting it at the receiving end, using a combo of public and private keys.

These keys depend for their strength on their length and the complicated math they are based on.

But with supercomputers becoming more powerful by the day and more portable public keys are increasingly breakable.This is where Quantum Keysare superior.

Quantum computing, unlike conventional digital computers, doesn'twork with digital ones and zeroes. Quantum bitsor Qubits as they are known,can be a one or a zero at the same time. That means with two Qubits you have four possible states.

The beauty of this, is that it is much more difficult for a hacker to tell if a particular bit is a one or a zero at any given time.

In Quantum Key Distribution, encrypted data is sent in the old fashioned way,but the keys to decrypt them are sent as Quantum bits. It makes the entire chunk of data much harder to hack or crack and this is what the team at RRI has achieved, albeit over a fairly short distance.

QKD is currently the most secure means of facing any threats from efforts at breaking the algorithms of classical computingcryptography, adds Prof Sinha.

Think of it this way (illustration above): In classical digital cryptography, when Alice communicates with Bob,there is the danger of Eve eavesdropping.

Quantum communication using Quantum Key Distribution,makes the task of Eve, well nigh unachievable.

By establishing that India canharness the superior security of quantum cryptography and establish such secure links with mobile platforms, the researchers in Bengaluru, have brought nearer the day when such ultra secure links can be extended to satellite-based communication.

The implications for military communications are obvious.

Quantum Primer

Quantumcomputingis a technology that harnesses the laws of quantum mechanics to solve problems socomplex thatclassicalsupercomputers arentsuper enough to solve them.

Quantum processors work with Qubits rather than bits to perform operations and they can do this only at very low temperatures, close to absolute zero or minus 273 degrees Celsius.

Quantum Communicationsis a sub-field of quantum physics, whose most useful application is the ability to send and receive information that is secure against eavesdroppers. It uses a process called Quantum Key Distribution or QKD.

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How to overcome noise in quantum computations – Phys.org

April 7, 2023 | Author: admin

This article has been reviewed according to ScienceX's editorial process and policies. Editors have highlighted the following attributes while ensuring the content's credibility:

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Researchers Ludovico Lami (QuSoft, University of Amsterdam) and Mark M. Wilde (Cornell) have made significant progress in quantum computing by deriving a formula that predicts the effects of environmental noise. This is crucial for designing and building quantum computers capable of working in our imperfect world.

Quantum computing uses the principles of quantum mechanics to perform calculations. Unlike classical computers, which use bits that can be either 0 or 1, quantum computers use quantum bits, or qubits, which can be in a superposition of 0 and 1 simultaneously.

This allows quantum computers to perform certain types of calculations much faster than classical computers. For example, a quantum computer can factor very large numbers in a fraction of the time it would take a classical computer.

While one could naively attribute such an advantage to the ability of a quantum computer to perform numerous calculations in parallel, the reality is more complicated. The quantum wave function of the quantum computer (which represents its physical state) possesses several branches, each with its own phase. A phase can be thought of as the position of the hand of a clock, which can point in any direction on the clockface.

At the end of its computation, the quantum computer recombines the results of all computations it simultaneously carried out on different branches of the wave function into a single answer. "The phases associated to the different branches play a key role in determining the outcome of this recombination process, not unlike how the timing of a ballerina's steps play a key role in determining the success of a ballet performance," explains Lami. Light can travel through an optical fiber via different paths. The impossibility of knowing the exact path a light ray has taken leads to an effective dephasing noise. Credit: L. Lami

A significant obstacle to quantum computing is environmental noise. Such noise can be likened to a little demon that alters the phase of different branches of the wave function in an unpredictable way. This process of tampering with the phase of a quantum system is called dephasing, and can be detrimental to the success of a quantum computation.

Dephasing can occur in everyday devices such as optical fibers, which are used to transfer information in the form of light. Light rays traveling through an optical fiber can take different paths; since each path is associated to a specific phase, not knowing the path taken amounts to an effective dephasing noise.

In their new publication in Nature Photonics, Lami and Wilde analyze a model, called the bosonic dephasing channel, to study how noise affects the transmission of quantum information. It represents the dephasing acting on a single mode of light at definite wavelength and polarization.

The number quantifying the effect of the noise on quantum information is the quantum capacity, which is the number of qubits that can be safely transmitted per use of a fiber. The new publication provides a full analytical solution to the problem of calculating the quantum capacity of the bosonic dephasing channel, for all possible forms of dephasing noise.

To overcome the effects of noise, one can incorporate redundancy in the message to ensure that the quantum information can still be retrieved at the receiving end. This is similar to saying "Alpha, Beta, Charlie" instead of "A, B, C" when speaking on the phone. Although the transmitted message is longer, the redundancy ensures that it is understood correctly.

The new study quantifies exactly how much redundancy needs to be added to a quantum message to protect it from dephasing noise. This is significant because it enables scientists to quantify the effects of noise on quantum computing and develop methods to overcome these effects.

More information: Ludovico Lami, Exact solution for the quantum and private capacities of bosonic dephasing channels, Nature Photonics (2023). DOI: 10.1038/s41566-023-01190-4. http://www.nature.com/articles/s41566-023-01190-4

Journal information: Nature Photonics

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How to overcome noise in quantum computations – EurekAlert

April 7, 2023 | Author: admin

image:Environmental noise, here represented as a little demon, can affect the state of a quantum computer by changing the phases of various branches of its wave function in an unpredictable fashion; we call this dephasing. Here, the position of the hand of the clock represents the phase of a particular branch of the wave function. Its modification, not known to us, will affect the delicate ballet of phase recombination which quantum computations rely on. view more

Credit: L. Lami

Researchers Ludovico Lami (QuSoft, University of Amsterdam) and Mark M. Wilde (Cornell) have made significant progress in quantum computing by deriving a formula that predicts the effects of environmental noise. This is crucial for designing and building quantum computers capable of working in our imperfect world.

The choreography of quantum computing

Quantum computing uses the principles of quantum mechanics to perform calculations. Unlike classical computers, which use bits that can be either 0 or 1, quantum computers use quantum bits, or qubits, which can be in a superposition of 0 and 1 simultaneously.

This allows quantum computers to perform certain types of calculations much faster than classical computers. For example, a quantum computer can factor very large numbers in a fraction of the time it would take a classical computer.

While one could naively attribute such an advantage to the ability of a quantum computer to perform numerous calculations in parallel, the reality is more complicated. The quantum wave function of the quantum computer (which represents its physical state) possesses several branches, each with its own phase. A phase can be thought of as the position of the hand of a clock, which can point in any direction on the clockface.

At the end of its computation, the quantum computer recombines the results of all computations it simultaneously carried out on different branches of the wave function into a single answer. The phases associated to the different branches play a key role in determining the outcome of this recombination process, not unlike how the timing of a ballerinas steps play a key role in determining the success of a ballet performance, explains Lami.

Disruptive environmental noise

A significant obstacle to quantum computing is environmental noise. Such noise can be likened to a little demon that alters the phase of different branches of the wave function in an unpredictable way. This process of tampering with the phase of a quantum system is called dephasing, and can be detrimental to the success of a quantum computation.

Dephasing can occur in everyday devices such as optical fibres, which are used to transfer information in the form of light. Light rays travelling through an optical fibre can take different paths; since each path is associated to a specific phase, not knowing the path taken amounts to an effective dephasing noise.

In their new publication in Nature Photonics, Lami and Wilde analyse a model, called the bosonic dephasing channel, to study how noise affects the transmission of quantum information. It represents the dephasing acting on a single mode of light at definite wavelength and polarisation.

The number quantifying the effect of the noise on quantum information is the quantum capacity, which is the number of qubits that can be safely transmitted per use of a fibre. The new publication provides a full analytical solution to the problem of calculating the quantum capacity of the bosonic dephasing channel, for all possible forms of dephasing noise.

Longer messages overcome errors

To overcome the effects of noise, one can incorporate redundancy in the message to ensure that the quantum information can still be retrieved at the receiving end. This is similar to saying Alpha, Beta, Charlie instead of A, B, C when speaking on the phone. Although the transmitted message is longer, the redundancy ensures that it is understood correctly.

The new study quantifies exactly how much redundancy needs to be added to a quantum message to protect it from dephasing noise. This is significant because it enables scientists to quantify the effects of noise on quantum computing and develop methods to overcome these effects.

Computational simulation/modeling

Not applicable

Exact solution for the quantum and private capacities of bosonic dephasing channels

6-Apr-2023

Disclaimer: AAAS and EurekAlert! are not responsible for the accuracy of news releases posted to EurekAlert! by contributing institutions or for the use of any information through the EurekAlert system.

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Beyond Hype: How Quantum Computing Will Change Enterprise IT – InformationWeek

April 7, 2023 | Author: admin

Quantum computing -- which could bring monumental problem-solving capabilities through sub-atomic qubits -- is capturing imaginations as the next big leap for information technology.

Businesses and governments are pouring billions of dollars into quantum technology research that will quite likely change (but not replace) computing as we know it today. According to P&S Intelligence, quantum computing will be a $5.2 billion market by 2030. That market potential has created a lot of buzz. But quantum computing experts caution the technologys full potential will take years or even decades to realize.

Quantum computing uses quantum physics to solve problems that are too complex for classical bit-based computers. But its important to understand that quantum computers will not replace classical computing -- they are seen as an accelerator or companion to classical computing that will be used for very specific tasks. You wont be opening a Microsoft Word document or streaming video with a quantum computer, says Sam Lucero, chief quantum computing analyst at Omdia. The advantage will come in areas of optimization that will benefit things like manufacturing processes, logistics, finance, chemical modeling, machine learning, and more.

Between headline-grabbing AI advancements, and ever-increasing cybersecurity threats and attacks, emerging technology is consuming our business and government leaders attention at a feverish pace. Quantum computing can be seen as both a solution and a massive risk - with the capability to crack current encryption methods easily. Making computing quantum cyber ready is driving much of the research that has become an arms race between companies and countries. Business leaders, however, are more excited about the less salacious aspects of quantum computing that could dial into better profits and more efficiency.

One area where Omdias Lucero sees the most promise commercially is in the area of combinatorial optimization, that is, solutions that require an increasing level of computation power with increasing variables. A quantum computer, for example, may one day be able to handle thousands of tasks with multiple variations (such as multiple satellite positioning, which would be an impossible task for classical computers). Such logistic capabilities would free up power-hungry super computers and create more efficiency in data centers globally.

If you have a problem that can be put into an algorithm that leverages the parallelism of quantum computers, thats where you can get a very dramatic potential speed up, Lucero says. If you have a problem that for every additional variable, you add to the problem, and doubles the computational complexity -- that is probably a good candidate to be adapted into a quantum computational problem.

The so-called traveling salesperson problem, for example, would be a fitting problem for a quantum computer. The algorithm asks the following: Given a list of cities and the distances between each pair of cities, what is the shortest possible route that visits each city exactly once and returns to the origin city. This and other combinatorial optimization problems are important to theoretical computer science because of the complexity of variations involved. Used as a benchmark, the algorithm can be applied to planning, logistics, microchip manufacturing and even DNA sequencing. In theory, a quantum computer could make quick work of this complicated algorithm and provide greater efficiency for programming.

Businesses will benefit from having access to previously unattainable solutions, Lucero says. I think of this as the tractability advantage -- what people used to refer to as quantum supremacy -- where a quantum computer unlocks a solution and achieves something that wasnt going to be possible on a classical computer.

William D. Oliver, director of MITs Center for Quantum Engineering, says quantums potential could unlock new products that are more sustainable. He says quantum can take us beyond approximating and guesswork -- and that will advance new technologies and discoveries exponentially.

We care a lot about the environment and quantum computing could be quite impactful . . . We know were going to need better batteries, or different ways to sequester carbon, and different manufacturing processes, Oliver says. And we can do those things if we can simulate those materials or systems. And its for those types of problems that quantum computers will process to really advance the field and allow us to look at things we just wouldnt find otherwise with conventional computers.

Omdias Lucero says greater efficiencies will also contribute to sustainability efforts being embraced by business leaders globally. While quantum computers will likely have their own intense power needs, they will be able to spread energy consumption and make shorter work of complex problems now being handled by power hungry super computers. It is a complicated picture, but my overall sense at this point is that it should be a net benefit to energy use, he says. You should be able to use far less computational power to get the result youre now getting from a high-performance computer server cluster.

Countries are banking on quantum computings huge commercial upside to anchor future economies. For quantum computing, the future growth is in business, Lucero says. And from a national security standpoint, theres also a very strong concern about economic security and economic benefits. As with any deep tech, this is seen as a future area of economic competitiveness.

MITs Oliver says business leaders should temper their excitement -- large scale quantum computing is likely years or even decades away. Theres a lot of hype in the general public that somethings going to happen quickly (with quantum computing), Oliver says. And the hype is there because the promise is real, but we know that its going to take longer than a year. I think many companies out there want to understand how this new technology is going to affect the bottom line in five or 10 years.

Leading in the Race for Quantum Talent

Is It Time To Start Worrying About Quantum Computing Security?

The Long Road to Quantum: Are We There Yet?

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Top Trader Predicts Massive Move for One Ethereum-Based Altcoin, Says One AI Tokens Chart Is Crazy… – The Daily Hodl

April 7, 2023 | Author: admin

A widely followed analyst is predicting big moves to the upside for one Ethereum (ETH)-based altcoin and one artificial intelligence (AI) token.

Pseudonymous analyst Bluntz tells his 222,100 Twitter followers that blockchain indexing protocol The Graph (GRT) could soar by about 30% from its current value of $0.14.

The trader says GRT is setting the stage for a rally to $0.19 as it breaks to the upside out of a descending triangle.

Besides ETH I think GRT is probs one of my biggest bags, this chart is gagging for a monster move upwards in my opinion and Im positioned for it.

Next, the crypto strategist says the AI-focused project Fetch.ai (FET) is likely to surge by more than 50% from its current value of $0.36.

He says that after FET has broken out of three downward triangle resistance levels it is poised to soar to $0.55.

Another I like is FET, literally so many crazy bullish charts out there, feels like were almost at the stage where we can start punting longs blindfolded I think.

Lastly, the crypto trader weighs in on this months planned Shanghai upgrade for the Ethereumecosystem, which will allow investors to sell their staked ETH. He says the upgrade could trigger a run to the upside similar to a run by Bitcoin (BTC) in 2019, noting a similarity in their price action patterns.

The ole ETH Shanghai upgrade is the perfect psyops to [fear, uncertainty, and doubt] people out of generational longs, its the perfect wall of worry scenario.

When ETH inevitably breaks out from $2,000 youll want to be positioned accordingly because unfortunately, I doubt there will be retests.

Itll most likely be a straight up GOD candle candle like BTC in 2019.

Ethereum is trading for $1,912 at time of writing, up 2.5% in the past 24 hours.

Generated Image: Midjourney

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Ethereum Rises Relative to Bitcoin: Has Altcoin Season Arrived? – Watcher Guru

April 7, 2023 | Author: admin

Bitcoin and Ethereum are usually quite closely-knit and move in a similar fashion on the charts. However, Bitcoin seems to be lagging lately. Over the past week, Ethereum has registered a 5.3% uptick. On the other hand, Bitcoin has dropped by 1.8% in the same timeframe.

In fact, quite an interesting trend has unfolded on the ETH/BTC chart. As analyzed recently, the trading pair created a triple bottom, and Watcher Guru predicted that an uptrend was most likely on the cards because bears were losing strength. Well, the said scenario has now materialized already.

The ETH/BTC pairs uptrend brings to light that Ethereum is getting stronger when compared to Bitcoin, or perhaps, Bitcoins dominance is getting challenged. In either case, Ethereum now seems to be in the driving seat.

Also Read Bitcoin: What To Expect From Q2 2023?

In fact, the latest numbers from Santiment brought to light another interesting trend. As shown below, the exchange and non-exchange addresses supply, are heading in opposite directions. In fact, the ten largest exchange addresses are near all-time low levels. On the other hand, the ten largest non-exchanges supply continues ascending. Thus, it can be inferred that whales and other participants have been buying and draining the balance on exchanges. Specifically, the top-10 non-exchange wallets now hold 3.44 times the supply possessed by the top-10 exchange wallets.

Altcoins usually tend to follow Ethereums footsteps more closely. Even though Ethereum is likely comfortable at the moment, Altcoins seem to be in a sticky position. According to the Season index, the market continues to be in the midst of a Bitcoin season and is not even close to its Altcoin season.

Typically, an Altcoin season transpires only when 75% of the top 50 coins perform better than Bitcoin over the last season, i.e. 90 days. That said, the current state of affairs shouldnt be perceived as a setback, because Ethereums rising dominance is merely in its formative stage. When the trend amplifies, other coins will likely follow suit. When that happens, the Altseason bells will finally ring, for it usually doesnt take time for the tides to reverse in their favor.

Also Read: Bitcoin Whitepaper is Hidden on Every Apple MacBook with Recent Versions of macOS

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Riding the Altcoin Wave: Top Coins Poised for Profitable Growth – Coinpedia Fintech News

April 7, 2023 | Author: admin

Crypto analyst scott melker scott melker host at wolf of all streets Scott Melker, commonly known as "Wolf Of All Streets," is a private trader and investor, the host of the popular The Wolf Of All Streets podcast, the creator of "The Wolf Den" newsletter, and a writer and thought leader in the crypto world. He also serves as an adviser to a number of blockchain-based enterprises and is a regular contributor to Cointelegraph Markets. Melker has been recognized as a significant voice in crypto and beyond, having recently been crowned "Influencer Of The Year" by Binance.Enrique Iglesias, Future, Snoop Dogg, Wiz Khalifa, T.I., Jason Derulo, Public Enemy, Kanye West, Justin Timberlake, Rihanna, and Lupe Fiasco are among the artists he has worked with as a DJ. Bitcoin, Ether, USD Coin, Elitium's EUM, Polkastarter's POLS, SwissBorg's CHSB, Elrond's eGold, YF Link's YFL, Utrust's UTK, and YFDAI are Melker's top ten crypto holdings by dollar value as of the end of 2020.Melker prophesied in April that the global economic catastrophe would start a fire that would drive Bitcoin's price higher. He stated his theory that Bitcoin was no longer a linked asset to stocks in a Twitter post. His tumultuous year continued when his Twitter account (which has 159,000 followers as of this writing) was locked for more than 24 hours. InvestorAuthorHostTraderMarket Analyst , also known as The Wolf of All Streets, has shared his insights on several altcoins to watch out for in his recent video analysis. According to Scott, many cryptocurrencies are coming into resistance, but some have shown massive potential for growth.

The first altcoin on Scotts radar is the largest of them all, ethereum ethereum Blockchain NetworkTechnology . The expert believes that the coin is set for a massive surge in the near future. On the USD pair, he believes that Ethereum is coming into resistance at $2030 and will see a death cross soon. However, if it breaks above $2100, Scott believes it has the potential to soar to $2500 or even $2800-2900. At the time of writing, Ether was worth $1,869.

Also read: Ethereum Price Prediction 2023, 2024, 2025: This Is How ETH Price Could Perform In 2023!

Binance Coin (BNB) is another cryptocurrency that the expert believes has a lot of potential. He notes that BNB had a breakout and retest last year, and its price has been aggressively large ever since. Scott expects BNB to head up straight to $380 after bouncing off the bottom. The coin is valued at $312 right now.

Cardano (ADA) is also on Scotts radar, but he warns against buying directly into resistance. He advises waiting for a well-defined breakout and retesting to maximize profits. Scott expects ADA to hit $0.68 to $0.74 if it breaks above $0.44. ADA is currently exchanging hands for $0.383.

Scott had previously gotten the inverse head and shoulders call right for matic network matic network Scaling Solution , as it hit its target of $1.40. However, he got the breakout and retest call wrong, noting that it never held the support. He suggests waiting for a breakout above $1.24 to see it move up to $1.60. At press time, MATIC is trading at $1.12.

Scott believes that solana solana Blockchain Network is coming up to a mega monster resistance level after its rejection at the 50 and 200 moving averages. However, he sees it moving up to $27 if it breaks above the resistance line and eventually up to $38. SOL is worth $20.64 at press time.

Also read: Solana Price Prediction 2023, 2024, 2025: What will be SOL price by the end of 2023?

Polkadot (DOT) did not do the dot thing that Scott had previously called for, but it still hasnt dropped below $6.50. He suggests waiting for a breakout and retesting above $9.60 to see the price move up to that level. DOT is currently worth $6.31.

Scott took a look at FTMs daily chart and noted that it is currently at resistance, but he likes the breakout entry and believes it could send the price back to around $0.64. He also mentioned that holding the 50MA is nice, and overall, FTM is looking good overall as an investment choice.

The altcoins discussed by Scott provide an interesting glimpse into the current state of the market, and it will be interesting to see how these coins perform in the coming weeks and months. As always, it is important to do your own research and make informed decisions when investing in crypto and not just blindly rely on experts opinions, because at the end of the day, they are just that; opinions.

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Five Altcoins That Led the Bullish Crypto Market – BeInCrypto

April 7, 2023 | Author: admin

BeInCrypto looks at five altcoins that increased the most in this weeks crypto market, specifically from March 31 to April 7.

The term altcoin refers to cryptocurrencies other than Bitcoin (BTC). These altcoins have stolen the crypto news and cryptocurrency market spotlight:

The SXP price has increased rapidly since breaking out from a descending resistance line on March 29. The breakout led to a high of $0.94 on April 3.

However, the price failed to break out from the $0.93 area and was rejected instead.

If the decrease continues, SXP could find support at the 0.382 Fib retracement support level at $0.66.

On the other hand, if it breaks out, the next closest resistance would be at $1.40.

The INJ price has increased at a rapid rate since its March 10 low (green icon) of $2.45. On April 2, the price broke out from an ascending resistance line. Afterward, it validated it as support on April 6 (green icon).

If the increase continues, the next resistance will be at $6.50.

However, if the rally loses momentum, the INJ price could decrease to the $4.40 horizontal support area.

The Dogecoin price broke out from a descending resistance line on April 3. However, it was rejected by the 0.382 Fib retracement resistance level at $0.10.

Currently, DOGE is in the prices of validating the previous resistance line as support. If it is successful, it will likely break out from the $0.10 area. If so, it will likely increase to the 0.618 Fib retracement resistance level at $0.12.

However, if the DOGE price falls below the descending resistance line, it will likely decrease to $0.07.

The FXS price has increased since bouncing at the $7.50 horizontal support area on March 10. After creating a higher low, it is now attempting to break out from the $10 resistance area.

If it breaks out, FXS can increase to $12.80. However, if it gets rejected, a drop to $7.50 could follow.

The CSPR price has followed a descending resistance line since October 2022. The line has caused numerous rejections, most recently on April 4 (red icon). Since resistances get weaker each time they are touched, an eventual breakout is expected.

If the CSPR price breaks out, it could increase to at least $0.50.

However, if another rejection follows, CSPR could fall to the $0.34 support area.

For BeInCryptos latest crypto market analysis,click here.

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions.

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XRP, XLM, CFX, XDC and MASK rank among the top 5 altcoin gainers in March – Cointelegraph

April 7, 2023 | Author: admin

Bitcoins dominance over the crypto market, which represents its share of market capitalization relative to the total cryptocurrency market capitalization, rose steeply from around 44% to highs of 48% in March.

While Bitcoins price increased by 22.7% during the month, most altcoins yielded subpar or negative returns. However, there were some outliers that showed a second month of positive momentum. Take, for example, XRP, which saw steady positive momentum as investors expected a positive outcome in its U.S. court case against the SEC.

Conflux Network continued its positive run from February, nearly doubling its price in March. The projects team continued to strengthen its partnerships in China by adding XCMG, the worlds third-largest construction machinery manufacturer, and Zen Spark Technology.

The Conflux team also supports the development of permissionless applications. It has established a grants program to promote its ecosystem development.

The CFX token tested the support between $0.10 and $0.20 and continued its positive run to reach a new yearly high of $0.46. The market structure of the token with higher highs and higher lows looks bullish, with a potential target of $0.80. It represents the breakdown level from the 2021 bull run.

Ripples chances of winning the court case against the United States Securities Exchange Commission improved on March 21 after the presiding judge, Analisa Torres, decided to exclude an experts opinion explaining how XRP (XRP)could be a security.

On March 27, another U.S. regulatory move was a blessing in disguise for XRP holders. The U.S. Commodity Futures Trading Commission charged Binance with improper compliance procedures and market manipulation.

The regulatory body classified Bitcoin (BTC), Ether (ETH) and Litecoin (LTC) as commodities in the filing. Some believe that this classification will extend to XRP as well, effectively refuting the SECs claim of XRP being a security. The markets expectation of Ripple winning the case against the SEC pushed XRPs price to new yearly highs.

If Ripple goes on to win the case against SEC, the bullish momentum in XRP will likely continue in the medium to long term.

XRP is currently facing resistance from the peak levels of 2022, around $0.53. A successful breakout above this level could launch the price toward previous support and resistance levels around $0.65 and $0.90.

Notably, the relative strength index (RSI), which measures the momentum of price moves relative to volume, shows that XRP has reached overbought levels. It raises the possibility of a correction toward the $0.45 level.

Stellars XLM (XLM) token benefited primarily due to its strong positive correlation with XRP. The correlation coefficient between XLM and XRP price movement usually stays above 0.7.

Behind the scenes, the Stellar Organization is making efforts to increase the adoption of Stellar Network for remittances across less developed countries. Stellar is also working with international payments provider MoneyGram to integrate the Stellar Network into facilitating global payments.

Technically, the XLM/USD pair has broken out above the resistance level of $0.10. If buyers consolidate above this level, the pair can target upside to $0.15 and $0.24. On the flip side, if the bullish breakout fails to materialize, XLM can fall back toward support at $0.08.

XDC network combines a permissioned and public chain that addresses scalability and security. The XDC token is the fuel of the network used to pay network fees and deploy applications.

The network supports EVM-compatible smart contracts, protocols, and atomic cross-chain token transfers. It also fully complies with the ISO-20022 message standard, an internationally accepted standard for electronic data interchange between financial institutions.

The top public blockchains in the XDC ecosystem include Ecoin, Stasis Euro and Gobiance Exchange. These are relatively lesser-known projects trading on second-tier exchanges like HitBit and BitMart. It paints a dull picture of the projects ecosystem development with permissionless blockchains.

On the enterprise side, the project has established decent partnerships with brands like Travala and Guarda Visa cards.

The factors promoting the recent price increase include the introduction of a DAO and the active role played by the management firm, XinFin, responsible for the development and managing the blockchain.

XinFin recently decided to decentralize the governance of the blockchain by forming a DAO. After deployment in May, the community will get to decide on the distribution of ecosystem funds to promote development. A Web3 meetup in Dubai hosted by XDC Network with over 60 developers worldwide also promoted the blockchain's ecosystem growth.

The technical setup of the XDC/USD pair shows that it is at the edge of a bullish breakout. If buyers stage a breakout above the $0.045 level, the pair can likely shoot toward targets 0.064 and beyond. In case of a downside, the support level of $0.02 will be crucial for buyers.

The Klinger Oscillator, a momentum indicator, paints a similar picture with a reading at zero. Positive buying action from the current levels will move the indicator into positive territory, usually a bullish sign.

Related:Top 5 crypto winners (and losers) of 2022

The Mask Network bridges Web2 and Web3, enabling cryptocurrency transactions directly through Web2 websites.

More than 40,000 users have installed the Mask Network Chrome extension. The browser extension currently supports several decentralized applications (DApps), including Uniswap and SushiSwap, and is compatible with many social media platforms, including Twitter and Facebook.

The networks Facebook integration has met with some complaints. After Elon Musks acquisition, it mainly benefits from its Twitter integrations and the hype around cryptocurrency integrations on the social media platform. This adds considerable speculation in the tokens price as the nature of Twitters adoption is still unknown.

On March 9, the token obtained a listing on the BTSE exchange, improving the liquidity and volume of the token. The project was one of the recipients of the ARB airdrop, receiving 257,540 ARB tokens.

The MASK token is the governance token for the project, which is discouraging as it does not accrue yield from the networks usage. However, over 76% of the tokens supply is already in circulation; it has a relatively low inflation rate.

The MASK/USD pair broke above 2022 highs of $6.10, a positive sign for technical buyers. The RSI indicator is in bullish territory and has cooled off from the overbought region, providing room for more upside.

The views, thoughts and opinions expressed here are the authors alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

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XRP, XLM, CFX, XDC and MASK rank among the top 5 altcoin gainers in March - Cointelegraph

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Crypto Analysts Warn Against Buying Altcoins Heres What Needs to Happen First – Coinpedia Fintech News

April 7, 2023 | Author: admin

Investors in the cryptocurrency market are constantly on the lookout for the next altcoin season to make a killing. However, according to crypto analysts Austin Arnold and Ben Cowen, it might not be the right time to invest in altcoins just yet. In a recent video analysis, the duo warned investors against buying altcoins right now.

Bitcoin dominance is a measure of the total market capitalization of Bitcoin relative to the total market capitalization of all cryptocurrencies. As Austin pointed out, the dominance is already at 52.5% right now when you exclude stablecoins.

This means that altcoins have continually been devalued on their Bitcoin pairs throughout this market cycle. Ben said that in order to truly get to the end of the altcoin reckoning, the altcoin season index indicator needs to come back down to around five or so, which hasnt happened yet.

As the two pointed out, Bitcoins dominance is not going to go higher forever. They predict that it will likely reach around 65% this time, which isnt much higher than its current level.

As we all know, Bitcoin dominance occurs when Bitcoin goes up, not when Bitcoin goes down. The implication of dominance is that it shows the flow of the cycle. Once the dominance is at a high level, then a lot of money can flow into the altcoin market and investors can splurge.

The altcoin season index indicator tells investors if the market is in Bitcoin season or altcoin season based on the previous 90 days. Austin explains that every year and a half, two and a half years, the metric needs to come to this deep value on Bitcoin season where the metric comes down to around five or so.

In the last cycle, the altcoin season index indicator had a double bottom where it went into Bitcoin season a little bit, but it only lasted for a couple of months before everything took back off again. This move looks very similar to what we had in 2019, where there was a double bottom on the altcoin season index indicator, said Austin.

Investors need to be cautious when it comes to investing in altcoins at this point in the market cycle. According to Arnold and Cowen, altcoins might not be worth the risk again until the finalization of that altcoin reckoning after Bitcoin has truly taken back the market cap percentage that it should be at. They advise investors to hold off on buying altcoins until Bitcoin dominance reaches a much higher level.

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Crypto Analysts Warn Against Buying Altcoins Heres What Needs to Happen First - Coinpedia Fintech News

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