Lead the pack

Your daily newsletter for March 1, 2019
Lead
I am not afraid of an army of lions led by a sheep; I am afraid of an army of sheep led by a lion.
Alexander the Great
Ladies and gents, the month of March is here. Yes, already. 😲 So if you've fallen off track for your 2019 resolutions, here's a reminder to bump yourselves back in. 💪 Enjoy your weekend!

Today in history (1969), Mickey Mantle, also known as "The Commerce Comet" and "The Mick", announced his retirement from baseball. ⚾
 
In today's newsletter, we will be covering Facebook planning to launch its own cryptocurrency in the first half of 2019, Singapore government-owned wealth fund GIC Private Limited backing Coinbase’s $300 million funding round last year and JPMorgan Chase’s blockchain team testing zero-knowledge proofs (ZKPs). Today, we will also be covering Stratis (STRAT) in our weekly deep dive! Also today in our 'Blockchain term of the day' section, we have another well put together infographic done by fund-software-as-a-service platform, Panda Analytics! Lastly, we also have a special announcement regarding a "Blockchain & Crypto Assets for Finance Professionals" workshop! Boy, we sure got a lot of ground to cover today. 

Please don't forget to answer the polls down below too! It's a great way for us to interact with you all and hear what you have to say. 💭 Happy reading! 📚

Calm 🛏️
Over the last 24 hours, total market capitalization bounced within a tight range of ~$129.7 billion and ~$131.5 billion, with most coins either seeing gains or losses in the ~1-3% range. 24 hour volume continued to register relatively high levels compared to previous weeks, at ~$26.5 billion for the day. Notable mover of the day is Binance Coin (BNB), currently up ~9.4% for the day. 

BTC is currently trading at ~$3,870. It spiked to ~$3,910 earlier in the morning before sharply dropping back down to ~$3,870, where it remained for the rest of the day. RSI level continues to remain at ~55 for the 5th consecutive day, indicative of indecisiveness and some consolidation at these levels. BTC continues to trade above the 21 and 50-day EMA lines on the daily chart, and is still seeking to break through the 50-day EMA line on the weekly chart. 


Inevitable 🤷
Facebook is planning to launch its own cryptocurrency in the first half of 2019, with a anonymous source confirming that the company is working on a stablecoin, based on past meetings with the Menlo Park company. 😊

Facebook has recently beefed up its blockchain team, with a hiring push and at least one talent-minded acquisition. The company is currently seeking to fill nearly 20 blockchain-related positions, with more than 50 Facebook engineers already dedicated to the company’s blockchain project. 😋

Money moves 💰
Singapore government-owned wealth fund GIC Private Limited has reportedly backed Coinbase’s $300 million funding round last year. This was possibly GIC’s first investment in the crypto arena. 💰

Crypto exchange Coinbase announced the $300 million Series E equity round last October, though neither the exchange nor GIC disclosed the fund’s participation at the time. 👌

Large investment funds are increasingly starting to dip their toes in the digital assets space, with universities and public pension funds backing numerous crypto funds in recent months.

Feasibility testing 🧐
JPMorgan Chase’s blockchain team is testing a cutting-edge Ethereum privacy tech called zero-knowledge proofs (ZKPs). These proofs allow a statement about a set of data to be proven true without revealing the data itself, and are seen as a solution to the privacy issues that have made regulated companies wary of using shared digital ledgers. 🤖

JPMorgan has done pioneering work in this area with Quorum, its private version of the ethereum blockchain. Now, it is testing out another zero-knowledge privacy solution called AZTEC, which was developed by a London startup of the same name. This protocol seeks to allow encryption of blockchain data more efficiently and at a lower cost than previous versions of the technology.

AZTEC CEO Tom Pocock has said that AZTEC sets out to bridge the gap between the public and private blockchain realms by exploring faster and more efficient forms of blockchain data encryption.

Blockchain term of the day 🤓 - Consensus Mechanism
Crypto deep dive: Stratis
  • Cryptocurrency: STRAT
  • Market Capitalization Rank: 57th (~$86.8 million)
  • Consensus: Proof-of-Stake (PoS)
What its about ⚙️
  • It is a blockchain-as-a-service provider that supports C# and .NET development. 
  • Through the platform, enterprises are able to build their own private blockchains, which can be integrated with the main Stratis blockchain.
Why people love it 😘
  • Stratis is a partner of Microsoft, of which Stratis is part of the Azure cloud program that seeks to avail full functionality for companies wanting to develop blockchain applications. 
  • It is easy to develop applications on the Stratis blockchain as it uses the C# coding language. 
  • Stratis' Private Chains (side chains) grant developers the ability to make tailored changes according to their needs while keeping the parent blockchain intact enough to provide users the confidence of security.
Why people doubt it 🤔 

  • Adoption on the Stratis platform has been slow. The download count on their repository is not high. 
  • Stratis faces stiff competition in the blockchain-as-a-service provider space, such as Ethereum (ETH), EOS (EOS), VeChain (VET) and Ardor (ARDR).
Special announcement 📢: "Blockchain & Crypto Assets for Finance Professionals" Workshop with Henri Arslanian

On the 16th March 2019, CoinMarketCap will be organizing a workshop conducted by PwC's Fintech and Crypto Leader for Asia, Henri Arslanian! 

He will cover the essentials a financial services professional needs to know about cryptoassets and blockchain, such as how central bank-backed cryptoassets will change the value ecosystem and serve citizens, the ways financial institutions can start experimenting with the technology, regulatory stances of the various jurisdictions and the latest trends and developments in the global crypto scene that could disrupt the financial sector.

Don't miss out on this rare opportunity to learn from Henri himself. Register now for a 30% early bird discount!


Other news 📰
  • Crypto exchange Kraken is offering a $100K reward in exchange for valuable information for missing coins from crypto exchange QuadrigaCX. 💰
  • French President Emmanuel Macron says blockchain could boost the agriculture industry and address concerns over food traceability in Europe. 😊
  • Global crypto exchange Bittrex has led a $1.5 million seed round for South African crypto trading platform VALR. 👍
Crypto calendar 📅

31 Mar  - U.S. SEC's initial decision on the NYSE Arca and Bitwise Asset Management's Bitcoin ETF application
5 Apr    - U.S. SEC's initial decision on the VanEck, SolidX and the Cboe BZX Exchange Bitcoin ETF application
TBA      - ICE's Bakkt Bitcoin Daily Futures Contract updated launch timeline

Catch the CoinMarketCap team at these community events! 🤝

4-8 Mar      - Hong Kong Blockchain Week 2019 (Hong Kong)
12-14 Mar  - Token2049 (Hong Kong)
23-24 Apr   - 3rd International Blockchain Life 2019 Asia (Singapore)
25-26 Apr   - Trescon World Blockchain Summit Taipei (Taipei, Taiwan)

Poll of the Day
How much do you agree with this statement: "I am shocked about the news that Facebook will be issuing a crypto this year" 💭
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Why do you say so? What are your plans for the weekend? Share with me in the polls! 😆
What you said
How much do you agree with this statement: "I'm a fan of diversifying my crypto assets"

The average vote was 7.2. 

"How many crypto assets do you own?"

34.7% voted "10+"
30.6% voted "2-5"
16.3% voted "1-2"
14.3% voted "5-10"
4.1% voted "0"

Interesting. Seems that most of y'all are holding some pretty diversified crypto bags. Do make sure you've done ample research, and not allocate too large a percentage of your portfolio to "riskier" cryptos. Chances are, many of them won't make it out of this bear market. And to the 4.1% who don't own any crypto... what are y'all waiting for! 😀

Thank you all for reading! Catch you back here again on Monday for your daily dose of crypto news! 💙
See you again on Monday!
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