The Monero community has been gearing up for the network’s hardfork which is scheduled for 30 November, 2019. RandomX, a new proof-of-work algorithm, will be the result of the imminent hard fork. A code freeze was scheduled for 24 October, followed by the release of version 0.15.0.0 on 31 October. It has now been revealed that CLI v0.15.0.0 Carbon Chamaeleon has released on the programmed date. The post read,
“CLI v0.15.0.0 ‘Carbon Chamaeleon’ released! Please be reminded that a user, service, merchant, pool operator, or exchange should run this version (v0.15) in order to be sufficiently prepared for the scheduled protocol upgrade of November 30.”
The Reddit post further recorded guidelines to download the new binaries which suggested that once the latest version is downloaded, resync of blockchain wouldn’t be necessary. Once a user opens the latest version that is v0.15.0.0, it would pick up from where it left off.
With regard to GPG-signed hashes, the network urged users to examine the integrity of binaries by verifying that they were signed in by Fluffypony aka Riccardo Spagni’s GPG key.
Further, the network revealed that GUI v0.15.0.0 is anticipated to be released by next week. Users can also make use of the prune-blockchain tool for pruning. However, all Monero-oriented processes should be closed before using the tool. Additionally, if the blockchain file of users is stored in a non-default directory, they would be required to utilize the
Several exchanges, like KuCoin, have extended their support towards Monero and stated that they would put a hold on XMR deposit services until the network regained stability. However, prominent exchanges like Huobi, Bittrex and many more haven’t rolled out an official response, in spite of the hard fork being just around the corner. The Financial Action Task Force [FATF] recently obligated certain exchanges to record and disclose information pertaining to transactions. Following this, several exchanges delisted prominent privacy coins since their usage hinders the fundamentals of privacy coins.
While the community awaits the hard fork, the altcoin was seen trading at $63.57, with a 2.27% price increase over the last 24 hours.
Litecoin’s ailing price prepares for breach of descending channel
Litecoin noted a sharp fall on 15 November, a fall that caused its price to fall from $59.97 to $55.63. This 7.24% fall was followed by the price of the coin climbing up. However, it fell soon after the rise. The price of Litecoin at the time of writing hovered at around $58.07 with a market cap of 3.75 billion, while noting a trading volume of $2.90 billion.
Despite the falling price, however, Litecoin noted the formation of a bullish pattern that might provide a boost to its price.
The hourly chart for Litecoin [LTC] saw a descending channel extending along with the falling price. The pattern, characterized by two sloping trend lines, marked the lower highs of LTC at $60.26, $59.16, and $59.03 and lower lows at $59.38, $58.94, and $58.53. As the price remained constricted within the downward trend, a breach in the pattern might lead to the price of LTC surging.
The 50-day moving average underwent a crossover with the 100-day moving average, indicating a bullish move. The 100-day moving average dominated the LTC market for over five days and the coin lost 4.08% of its value. However, with the 50-day MA leading the charge, an upward surge might be coming soon.
The MACD indicator noted strong bearish momentum in the market, as the MACD line remained dormant under the signal line. On the other hand, the Relative Strength Index highlighted a change in tides as the signal line bounced back from the oversold zone and was pointing up.
Litecoin’s falling price might find respite with a breach of the descending channel. However, the coin might undergo further devaluation before it could note a spike.