"Life is like riding a bicycle. To keep your balance, you must keep moving."
- Albert Einstein
Off to the races
Happy Monday, how was your weekend? 👋
We're back for another week with you, speeding around the crypto landscape once more! 🚲
Over the weekend, we saw BTC dipping slightly to ~$6,300 levels on Saturday before rebounding back to ~$6450 levels on Sunday. Again, we saw relatively lower trading volumes (~30%) over the weekend, with thinner trading books 📖
In the short run, BTC may contest 🗡 the 21-EMA support line which it has been trading below since Aug 2 – a breakthrough which could push us into a small uptrend.
Judging by BTC’s quick rebound following the capitulation last Monday to ~$6,000, it's likely there were more dip buys, 💸 further strengthening the pre-existing ~$6,000 support level, which it has defended several times this year. At this point, $6,000 remains to be a key support level for BTC which most investors would be eyeing 👀
The majority of other cryptocurrencies also followed BTC’s price movements over the weekend, dipping slightly yesterday before recovering today to Friday’s levels. The notable mention today would be Tezos 🍞 which is currently experiencing a pump of ~19%, likely due to its Coinone listing announcement.
Following up on Vechain: It also bounced back from its weekend dip to keep most of the 40% price gains it made on Friday 💪
Capital One, the bank holding company specializing in credit cards 💳 and bank loans, has applied for a patent to develop a blockchain that helps to securely authenticate users 🔐
This is a continuation to their other patent submitted in June 2017, detailing a blockchain system ⛓ that can receive, store and retrieve encrypted user verification and interaction data.
The new system goes further to include collaborative efforts across multiple institutions, streamlining authentication requests, and doing away with repetitive requests from different banking institutions 📇 Sounds good to me!
Starting September, the U.S. Customs and Border Protection (CBP) will be “live fire testing” 🔥 a blockchain system to verify and validate the origin destinations of imported products ✈️ to ensure that they comply with both the North American Free Trade Agreement (NAFTA) and the Central American Free Trade Agreement (CAFTA) certificates.
The CBP is also considering an app for trademarks and IP licenses; for example, it can be used to verify the authenticity of a Louis Vuitton bag 👜 including its physical attributes, such as stitching and available colors, eliminating paper processes 🗂
A global movement
Chinese e-commerce retailer giant, JD.com 🐶 has officially launched its blockchain-as-a-service (BaaS) platform, “JD Blockchain Open Platform”. The platform will provide enterprise customers the tools and software to build and host their own blockchain applications, including the ability to create smart contracts 📑 on public and private enterprise clouds.
The platform, similar to an app store, will streamline 💡 operational procedures like tracking of goods, authentication of certificates, property assessments, transaction settlements and digital copyrights.
At a good clip
The founders of Cobinhood, the crypto exchange, raised $20 million for a new blockchain DEXON that they're commissioning; it is capable of 1 million transactions per second.
Airswap, the decentralized exchange, launched a new OTC market.
Blockchain gains adoption in the form of a glyphosate testing blockchain solution by ZEGO, which is used in the $289 million Monsanto cancer lawsuit.
Poll of the Day
How much would cross-bank authentication on blockchain improve your life? 😄
Would it save you a lot of time? What promise does it hold for all of us? Let us know in the poll! 😎
What you said
The odds that you guys think BCH will overtake BTC as the main infrastructure coin/ecosystem one day: 1.4. 😆
~80% of respondents were not supportive of the hard fork in the first place, mainly due to the people involved, the way it was done, how centralized it is, and the fact that it never even uses the 8MB block size anyway. There weren’t any strong feelings about the Bitmain pre-IPO deck, beyond the known fact around centralization, and so there aren’t any surprises there.
More than 85% of you said you like the new crypto deep dive on Fridays, thank you! We will continue working on it! 😍
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