"Everything negative – pressure, challenges – is an opportunity for me to rise."
- Kobe Bryant
Welcome back, ladies and gents! Hope everyone had a fantastic weekend, we know the crypto markets did! 😉
It's Labor Day today (a national U.S. holiday), and also a little over a month since we started this newsletter. The support you guys have shown has been phenomenal. Thank you for continuing to take some time of your day to read what we produce daily, enjoying the fruits of our labor 😜
Somethin' is cookin'
We left off on Friday when total market capitalization was at ~$226 billion. Over the weekend, total market capitalization rose steadily to ~$235 (~+4.5%) billion 🙌
In that time, BTC also broke past the 100-day EMA line, a resistance level that it has not traded above since mid-July this year. BTC even rose to ~$7,420 at one point yesterday, before falling back to ~$7,230 where it's currently trading at.
The weekend spike brought RSI levels on the daily chart to ~62, indicating some buying momentum. With BTC shorts still at relatively high levels (2018), further upward price action from BTC could trigger some short squeezes that will cause further upward momentum. BTC's next hurdle will be the 200-day EMA resistance line, which currently is at ~$7,520 🙏
Most of the other cryptocurrencies are down ~1-4% for the day, dipping slightly after their Friday-Saturday upswings. DOGE is also down ~19.25% today, losing the large gains it made over the weekend 😞
Mozilla Firefox 🔥🦊 will be prohibiting third-party crypto mining malware scripts on their popular Web browser, as part of a wider performance optimization push, in its upcoming updates 🛑
Mozilla wants to prevent third-party scripts from negatively affecting user experience, as some can utilize users' computing power (e.g. mining) and collect identifiable user information even without consent 🤐 The changes are set to be released in Mozilla's upcoming 63th update.
Sense the lit
Hypermarket chain Walmart has applied for a patent for a blockchain delivery system. The technology will facilitate "in-field authenticating of autonomous electronic devices" to enable secure deliveries 📦
For example, two autonomous electric devices, such as delivery drones and household robots 🤖 will be able to securely authenticate each other and subsequently execute the delivery 🤝
Laying on the stress
The Financial Services Agency (FSA) of Japan will be introducing more stringent registration screenings for cryptocurrency exchanges, adding more features to previous legislative acts 🔨
They will be quadrupling the number of questions in the screening application to 400, be allowed to access board meeting records and minutes, and receive routine updates on the composition of the exchanges' shareholders 🌚
Rapper Eminem gave BTC a public awareness boost in a song from his just-released album, "Kamikaze". The line is "remember everybody used to bite the nickel, now everybody doing bitcoin." 🤙🏼We're going mainstream, fellas!
Cryptocurrency exchange Bittrex has invested in Malta-based blockchain company Palladium, which wants to launch the first Initial Convertible Coin Offering (ICCO). It now has a 10% stake in the company 🤑
Poll of the Day
How much do you agree: We should get more mainstream musicians to sing/rap about crypto 😉🎤
And... who's gonna be a good public face for us in crypto anyway?
What you said
"How much do you support corporations jumping on the blockchain bandwagon?"
The average answer was a convincing 7.9. I guess the general consensus is that corporations are required to bring both legitimacy and access to capital markets to the space 👍
"In today's rapidly-changing world, how relevant is formal education (such as college) at work? Why do you think so?"
56.2% voted 'A nice to have'. 25% voted 'Extremely relevant'. 12.5% voted 'Not necessary'. 6.2% voted 'Completely useless'.
Based on your responses, it seems that most feel that although a formal education can be beneficial, it is not an indicator for future success 👎 It can give one a boost by providing a structured framework to learn and get equipped with some tools for future jobs, but onus is still on oneself to continue learning in your own time 🤓 Also, success within the confines of a classroom may not necessarily translate over to career success as there other factors for that, such as EQ (soft skills), access to key networks and capital.
"What are your plans this weekend? Anything different from last week?"
One said 'movie & popcorn' – relaxing! 🛀 Another said he will be 'flying back home to enjoy some time with the family after being away for 35 days' – lovely! That is some quality time alright – we're happy for you 💑 One person said that he trades 'crypto for a living so everyday is spent like a weekend' – Dayummm, good on you! Must be great getting to live your day on your own time and terms. Our favorite was a person who 'will be picking up a 65" TV with 7.1 surround system that was bought using crypto profits' – Woweee! Making it in life brotha. 🍻
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