Crypto cogitation

Your daily newsletter for March 6, 2019
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Midweek is here, fam! I hope you are all having a splendid week thus far. Keep hustling! 🏃

Today in history (1964), boxing legend Cassius Clay joined the Nation of Islam and changes his name to "Muhammad Ali", as he felt that his former title was a "slave name". 🙊

In today's newsletter, we will be covering Coinbase retracting its statement on selling customer data, crypto futures provider Crypto Facilities seeing an increase of 500% in trading volume and 

  and crypto finance startup Circle Internet Financial is looking to raise a further $250 million in funding. Today, we also 2 special announcements, one by crypto.com, and another regarding a "Blockchain & Crypto Assets for Finance Professionals" workshop! 

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! 📚

Reversal ◀️
Over the last 24 hours, total market capitalization rallied from ~$126.9 billion to ~$131.5 billion, with most coins seeing gains in the ~3-7% range. Notable movers of the day are EOS (EOS), Litecoin (LTC) and Ontology (ONT), up ~11.9%~12.7% and ~12.5% respectively. 24 hour daily volume also spiked to ~$34.8 billion. Daily volume has been picking up since the beginning of February, which is a good sign. 👍

BTC is currently trading at ~$3,880, up ~3.1% from yesterday. As a result, the rally brought BTC back above its 50-day EMA line on the daily chart. RSI level sprung back up from ~47.8 to ~55.6. On the weekly chart, BTC is close to testing the 50-day EMA line, a line it has failed to break to the upside of several times since it broke below it in mid Nov 2018. 👀


Retracted 
After a media blunder last Friday, Coinbase is now taking steps to mediate the damage by assuring the public that it had “never shared [their] customers’ personally identifiable information with any third-party blockchain analysis vendors.” 🗣️

This comes after Christine Sandler, Coinbase’s director of institutional sales, justified the acquisition of controversial blockchain analytics firm Neutrino by saying the exchange’s previous analytics provider was “selling client data to outside sources.” Coinbase now says that Sandler misspoke. 😅 

Boosted 🚀
Cryptocurrency futures provider Crypto Facilities has seen an increase of 500% in trading volume since it was acquired by crypto exchange Kraken in February. 🤯

In total across all 5 products offered by the firm (Bitcoin (BTC), Ether (ETH), XRP (XRP), Litecoin (LTC) and Bitcoin Cash (BCH)), almost $1 billion in crypto futures has been traded over the past month. 

A huge reason for this growth stems from the acquisition by Kraken itself. Crypto Facilities' user base has grown 400% over the last month, as compared to the month before the acquisition. 👍

Deadline extension request ⏲️
Canadian court has given crypto exchange QuadrigaCX a 45-day extension to search for for nearly $140 million in missing cryptocurrencies.

Judge Michael Wood of the Nova Scotia Supreme Court, remarked that a stay of proceedings first granted a month ago should be extended by just under 45 days, with the next hearing scheduled for 18 April. Creditors cannot sue the exchange until the stay expires or is lifted. 🛡️

Wood also approved the appointment of a chief restructuring officer (CRO), a person who would manage the exchange and related companies while working with court-appointed auditor Ernst & Young in recovering the funds that Quadriga owes its customers.

Blockchain term of the day 🤓 - Protocol
The set of rules that define interactions on a network, usually involving consensus, transaction validation, and network participation on a blockchain.

Special announcement 📢: Favorable crypto rates with crypto.com

Buy crypto at the best rates with crypto.com! Crypto.com's Vortex Trading Engine is now live! Prices have been enhanced so as to offer you the best execution prices possible with no fees and no markups! Too good to be true? Find out for yourself! 😄

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 📰
  • Traders of Trustoken’s regulated stablecoin TrueUSD (TUSD) will have a “real-time” view of the U.S. dollars backing the token. 🧐
  • The “first” real estate transaction on a blockchain in Switzerland has been completed by 3 Swiss firms. 🤖 
  • A report by security firm Cisco revealed that university campuses are ranked the 2nd biggest miners of digital currency across industry verticals at 22%, second only to the energy and utilities sector, with about 34%. This is due to many campuses offering free electricity to students, which are continually being taken advantage of. ⚡
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 will not support crypto exchanges that sell the personal data of its customers" 💭
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Why or why not? Share with me in the polls! 😆
What you said
How much do you agree with this statement: "Stablecoins are currently of great use to me"

The average vote was 4.7. 

"Why do you say so?"

I don't see anything good in them. They only slow us down from our path. - They are actually pretty useful. Fiat-crypto gateways aren't the most efficient at the moment, so these stablecoins help temporarily bridge this gap by being placeholder tokens for real fiat! 👌🏻
Not yet not main stream yet - It could very well be mainstream soon enough! 
Way too boring - Boring, yet useful. 😊
recently i have used them few times. mainly to hedge on BTC. net result for me is approx zero. but its a good product to convert them any of your coin is having unrealistic value & u think it will dip.. u can multiply your holding.. but is risky. - Stablecoins can serve as a useful tool for swing trading. 🔨
looked at but not understood reason for. - Exchanging fiat for crypto, or vice versa, is a process that is currently still time consuming. Stablecoins help with this. 👍
The future is here! - Exciting, isn't it? (:
I don't use stable coins at present because I'm not selling. If I sell some coins in the future, I might use a stable coin. - If you have a knack for swing trading, you could sell some every time you anticipate a dip and rebuy back in shortly after once prices recover. 😀
I actually just responded 10, so I had the opportunity to request that the blockchain and crypto assets workshop with Henri Arslanian is made available for playback online as I am based in the UK so I am unable to attend the workshop in person and a live stream would be at a VERY unsociable hour. - Hey, unfortunately there isn't going to be a online playback. Do try your best to attend! 🙏🏻
I can stay with crypto to make profit without takeing tax from selling crypto to Fiat. - Stablecoins aren't considered fiat though. 
Nahh, there's no fun in stablecoins.
I never use them - I would recommend exploring them! Pretty useful imo. 🧐
Don't trade with stablecoins - Nuuuuuuu.

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