“If everyone is moving forward together, then success takes care of itself.”
- Henry Ford
It's already Thursday, everyone! Hang in there, the weekend is almost here! Today also happens to be Martina Navratilova's birthday. Who is she? Only just one of the greatest female tennis players in history! She has 18 Grand Slam titles under her belt, and still holds the record for most singles (167) and doubles titles (177) in the Open Era. Take that, Serena! 🎾
In today's newsletter, we will be covering Fidelity Digital Assets' first client, Chicago Mercantile Exchange (CME)'s Q3 statistics on BTC futures and the Amazon Web Services (AWS) China division's partnership with QTUM.
Hope you enjoy today's newsletter, and don't forget to answer the polls down below too! Happy reading! 📚
It seems like BTC is back to its usual low volatility routine. Its price fluctuated within a very tight range of ~$6,530 and ~$6,560, but ultimately did not change in price from yesterday and is currently trading at ~$6,550. Volume has also remained stagnant at the ~$4 billion levels over the past 3 days. RSI has also remained at ~57-58 levels, indicating low momentum. 30-day BTC/ USD volatility is at ~1.92%, the lowest all year (less the start of Oct) - If not for the recent sell off and pump on Oct 10 and Oct 14 respectively, this figure would've dropped to about ~1.4%. 🤯
It was pretty much the same story with the rest of the other cryptocurrencies, and total market capitalization remained at ~$211 billion. Most cryptocurrencies saw either gains or losses in the ~1-4% range. 💤
The crypto merchant bank operated by billionaire and crypto enthusiast Mike Novograt, Galaxy Digital, has become the first crypto custody client of Fidelity Digital Assets of Fidelity Investments. 🤝
Less than 24 hours from its launch, Fidelity Digital Assets secured Galaxy Digital as its first client. Fidelity Digital Assets's founding head, Tom Jessop, said that that is "recognition that there is institutional demand" for cryptocurrencies and that family offices, hedge funds, other sophisticated investors should start "thinking seriously about this space." 💭
This partnership is expected to help clients of Galaxy Digital invest in the cryptocurrency markets through Fidelity Digital Assets. 🤑
Catching some wind
BTC futures trading at the Chicago Mercantile Exchange (CME) has continued to grow in Q3. The CME has revealed that the average daily trading volume of BTC has increased by 41% percent in Q3 over Q2, while open interest (open/ outstanding contracts at any given time) on Bitcoin futures has risen by 19% in Q3. 📈
Overall trading on the futures market has been growing at a faster pace than in Q2. In Q3, the number of equivalent BTC traded for average daily volume was 5,053 BTC, compared to 3,577 BTC and 1,854 BTC in Q2 and Q1 respectively. Also in O3, the the number of equivalent BTC for open interest was 2,873 BTC, compared to 2,405 BTC and 1,523 BTC in Q2 and Q1 respectively. 😃
Picking up speed
The Amazon Web Services' (AWS) China division is partnering with blockchain project Qtum (QTUM) to develop blockchain-as-a-service (BaaS) solutions for both enterprises and developers. 🤝
Through the partnership, AWS users will be able to develop and launch smart contracts "quickly, efficiently, and cost-effectively" using an Amazon Machine Image (AMI). 👨🏫
The head of territory business development at AWS China, Simon Wang, has confirmed the partnership through an email to crypto news source, CoinDesk. He stated that "Qtum are now an AWS technology partner and one of the partner network members." 👌
Cobo, a Beijing-based cryptocurrency wallet startup founded by F2Pool's founder, has closed a $13 million Series A funding round in its bid to expand its services overseas. The likes of Danhua Venture Capital, the NEO Foundation and Wu Capital invested in this round. 💲
The country of Rwanda has launched a new blockchain initiative to track the supply chain of a metal commonly used in electronics, "tantalum." According to Rwandan cabinet minister Francis Gatare, the "new and innovative mineral traceability solution" has already been implemented "by at least one exporter from Rwanda." 💎
The Internet and Mobile Association of India (IAMAI) has formed a committee dedicated to blockchain technology. It seeks to engage with the government and startups to help develop the local blockchain ecosystem. The committee will be chaired by the digital chief of Mahindra Finance, Tina Singh. 💪
Poll of the Day
How much do you agree with this statement: "Second place is the first loser" 💭
And...tell me about a time you got first place for something. Share with me in the polls! 😆
What you said
"How much do you agree with this statement: "If everything seems under control, you're just not going fast enough"
The average vote was 5.8. Very mixed response, we got! 🤔
"If you had to choose, which state would you rather be in?"
66.7% voted "In control but not challenged."
33.3% voted "Severely out of control but challenged."
Those who voted "In control but not challenged" said:
I like to be challenged but also like the safety net of being in control. Complete Chaos tends to drive into a panic. - Possible, but in my opinion some good can definitely come out of having dealt with these situations before. 💪
Who does not like comfort.. - Chill vibes only. 😎
Those who voted "Severely out of control but challenged" said:
I’ve got good experience - Suave. 🤵
This is an incomplete, alternative choice. You can be in control and still challenged. It all depends on your making the right choices through the process. - That is why I prefaced the question with "IF you had to choose". 🙄 Only then you are growing and able to surprise yourself. The problem is that we do not know how to challenge ourselves. - These situations usually teaches you a thing or two about perseverance and grit. 😄
Thank you all for reading! See you back here again tomorrow!💙💙💙
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