Ethereum Processes Double the Bitcoin Transactions, Now Cheaper in South Africa: We’re going to take a look at Ethereum and what’s been going on in the world of the second largest cryptocurrency by market cap. First and foremost, Ethereum has started beating Bitcoin at least in some areas. Namely, transaction processing. The Ethereum network now processes twice the transactions than Bitcoin on a daily basis. It has been settling more than 520,000 transactions per day on average.
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In other news and in the race of seeking for international support, buying Ethereum in South Africa just got a whole lot cheaper. Luno, a Bitcoin company headquartered in London with operations in 40 different countries, now supports Ethereum in South Africa. Previously, South Africans who wanted to buy Ethereum – or other altcoins – typically had to purchase Bitcoin from Luno, send it to a cryptocurrency exchange, and then buy their desired cryptocurrency.This process incurred Bitcoin transaction fees and could take several hours.
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Now, South Africans can buy Ethereum instantly and cheaper than before. ETH has generally responded well to growing pains and continues to find support among users, technologists, and companies. With its price being more stable compared to the wildly volatile Bitcoin, Ethereum could have the most promising and stable support of the big players, making it the ideal large-scale crypto.
Ethereum’s price versus the USD has risen up above the daily Ichimoku cloud while remaining in the $300 zone. The resistance is at the all-time-high price of $400, which could soon be broken.
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NZD/USD confirmed below the 4-hour Ichimoku cloud
The NZD/USD pair confirmed below the 4-hour Ichimoku cloud on Tuesday on worse than expected Chinese data dump.
Today we have another set of top-tier economic events to hit the markets. First off during the London session, the UK jobs report will be out at 9:30 AM GMT. The average earnings index could steal the show as policymakers are mindful of wage growth. Up next, the USD crosses will get hit by two important set of data out of the US at 1:30 PM GMT. The Consumer Price Index (CPI) and Retail Sales for October. Analysts estimate a lower monthly headline CPI reading but a slightly faster core inflation rate for October. As for the retail sales, market participants are expecting major weaknesses in October’s sales compared to September. Leading indicators are showing mixed readings. The CPI report might turn out to be the leading market mover as a few Fed members are already hinting that they’re uncomfortable with longer periods of low inflation.