“If everything seems under control, you're just not going fast enough.”
- Mario Andretti
Happy Wednesday people! I hope your week is going well and everything is smooth sailing. Today in history, the then tallest building in the world, Taipei 101, was completed (2004). 🗼 It stood at 1,671 ft (509.2m) and remained the tallest building until 2010, when the Burj Khalifa in Dubai was built.
In today's newsletter, we will be covering messaging appLINE'sLINK (LN) tokens now available for sale, a blockchain partnership project betweeen Abu Dhabi Ports and Belgium's Port of Antwerp, and the Ethereum Foundation's fourth wave of grants winners.
Hope you enjoy today's newsletter, and don't forget to answer the polls down below too! Happy reading! 📚
It's all under control
BTC is down slightly from yesterday and is currently trading at ~$6,550. It is still trading between the 50 and 100-day EMA lines, and it appears that the 100-day EMA line is causing some resistance. MACD indicators are signalling for BTC to carry on this mini upswing, at least in the coming days. 📈
As for the other cryptocurrencies, most either saw gains or losses in the ~1-4% range. Total market capitalization didn't budge from yesterday and is still at ~$211 billion. Notable mover for the day is 0x (ZRX), currently on quite a tear and up ~26.3%.
Most people are saying that BTC has found it's bottom in this long term correction, as it has successfully defended the low $6,000s on several occasions this year, and also that we are now entering the accumulation phase of the crypto J-curve. 💰 Do read about it if you haven't!
Nicely LINE'd up
Bitbox, the cryptocurrency exchange launched by Japanese messaging giant LINE, is now listing its own token for trading against several major crypto assets such as BTC, ETH and USDT. 😄
These LINK (LN) tokens which will aid in running the proprietary LINK Chain blockchain that utilizes a combination of delegated proof-of-stake and practical Byzantine fault tolerance as its consensus mechanism, is now exclusively available on Bitbox. 👍
A subsidiary of Abu Dhabi Ports is partnering with Belgium's Port of Antwerp to launch a blockchain pilot that seeks to facilitate international trade. 🤝
The proof-of-concept (PoC) trial seeks to help the companies handle trade documentation between the United Arab Emirates and Belgium, by "providing full cargo visibility and streamlining trade flows and supply chains." 👁️
The pilot will be conducted using Maqta Gateway's blockchain platform, Silsal, and the entire effort is expected to be completed by Q4 of 2018. Through this, it will investigate how to best to scale blockchain systems in world trade, while providing transaction security and lower integration costs. 🤗
Helping you help me
The Ethereum Foundation has announced the fourth wave of grants, totaling over $3 million, awarded to 20 various entities working on the Ethereum blockchain. They each submitted creative ideas on how to bolster the Ethereum ecosystem. 💭
Grant recipients were categorized according tot he manner in which they contributed to the development of the network, such as scalability, usability, security, hackternships and client diversity.
The biggest grants worth $500,000 were given to Prysmatic Labs and Status. 🤑 Both companies are working to develop the Ethereum 2.0 ecosystem. Other large grants went to Prototypal for front-end state channel research and Finality Labs for the development of forward-time locked contracts.
In a recent interview with Bloomberg, Pantera Capital’s CIO Joey Krug, made a prediction that the next upswing/ bull run could propel the cryptocurrency total market capitalization to more than $2 trillion. 💲
The co-founder of Apple, Steve Wozniak, has joined a venture capital fund built using blockchain technology, EQUI Global, as a co-founder. 😄
The central bank of the Maldives, the Maldives Monetary Authority, has cautioned locals that no permit has been issued to any organization authorizing the use of cryptocurrencies in conducting financial transactions and that "the issuance of any legal tender by any other party is against the law". ⚠️
Poll of the Day
How much do you agree with this statement: "If everything seems under control, you're just not going fast enough" 💭
And...would you rather be in control but not challenged, or severely out of control but challenged. Why? Share with me in the polls! 😆
What you said
"How likely will more big financial institutions like Fidelity Investments start to get involved in the crypto space in 2018?"
The average vote was 8.5. I'm pretty confident about this too! The wheels are turning and it definitely looks good! 😀
"Name a company that you think will have the most impact if it enters the crypto space." and "Why do you think so?"
You guys said:
Amazon - if amazon accepts crypto i think it will be a huge impact in terms of usability - places where we can actually spend crypto. - The biggest company in the world by total market capitalization joining the fray? Hell yeah that would be awesome! 😄
JP Morgan - just the prospect of positive sentiment from them as opposed to all of the negative over the past few years will give more confidence for other firms and the average lower level investor to jump aboard. 2019 will be the year though not 2018. As more regulation comes into play, more adaptation and understanding of crypto and the economy slows leaving people wanting more diversification into products connected to supposed recession proof investments, which the eruo and usd ( or usdt :-} ) are not. - I agree as well. I believe that the next bull run will take some time to come. The space is still not quite fundamentally there yet. People are getting too eager and have too high expectations because of what they saw in the recent bull run. 🤔
Need more individual investors rather than big fund managements - Because the commoners are who give the power not the elite. - I think we do need both! 👌
Hedge Funds - We definitely need more of these guys coming in. 😁
Shell - Oil and gas commodities in blockchain will be very interesting - Hmm, I am sure blockchain can streamline their existing processes in some way or another. I do know that their supply chain can be streamlined for sure. 🤖
Thank you all for reading! See you back here again tomorrow!💙💙💙
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