“Actions are the seed of fate deeds grow into destiny.”
- Harry S Truman
Happy Thursday, ladies and gents! In astrology, today is the day of the equinox, and is the first full day of the sign of Aries. 🐏
Today in history (1963), the Alcatraz prison in San Francisco Bay was officially closed after 29 years of operation. It closed mainly due to expensive operating costs. 💸
In today's newsletter, we will be covering 2 new crypto indices created by us, Square's CEO Jack Dorsey planning to give back to the open source community andCaspian launching trading support for crypto derivatives.
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! 📚
Grindin through 🤜
In the last 24 hours, total market capitalization gradually rose from ~$139.4 billion to ~$141.8 billion, with most coins seeing gains in the ~1-2% range. Notable movers of the day are Ontology (ONT) and Tezos (XTZ), both up ~23.5% and ~18.1% respectively. 📈
BTC is currently trading at ~$4,080, up ~0.9% over yesterday. BTC is currently trading above its 100-day EMA line on its daily chart, but is still currently challenging its 50-day EMA line on the weekly chart. RSI level on the daily chart is currently at ~65, in the slightly 'oversold' zone.
CoinMarketCap indices 💯
We have launched 2 cryptocurrency benchmark indices on the Nasdaq Global Index Data Service (GIDS), Bloomberg Terminal, Thomson Reuters Eikon (Refinitiv) and Germany’s Börse Stuttgart! The indices will be launched on our site in the coming days. 😀
The first index is named "CMC Crypto 200 Index (CMC200)", which comprises of 200 cryptocurrencies that represent 90% of the global cryptocurrency market, weighted by market capitalization. The second index, called the "CMC Crypto 200 ex BTC Index (CMC200EX)" tracks the performance of the market excluding the influence of Bitcoin (BTC). 🔥
We have partnered with Germany-based provider of financial indices Solactive for the effort, who will calculate and administer both the indices, as well as rebalance them on a quarterly basis based on our data. ⚖️
Our founder, Brandon Chez, believes that “these indices will promote greater accessibility to cryptocurrency data in an easier-to-digest format”. 👌🏻
Remembering your roots 🌱
According to tweets from payments provider Square's CEO Jack Dorsey, the startup is planning to hire 3 or 4 engineers and 1 designer “to work full-time on open source contributions to the Bitcoin/crypto ecosystem." 🧐
According to Dorsey, the new hires will also have the option of being paid in Bitcoin (BTC). The work will also be open source, and not focused on Square’s own commercial interests, but rather, “on what’s best for the crypto community.” 👍
Dorsey feels that “Square has taken a lot from the open source community" to get it to where it is and feels that it "hasn't given enough back". As such, this will be a "small way to give back, and one that’s aligned with our [its] broader interests: a more accessible global financial system for the internet.”
Derivation station 🤖
Institutional trading and portfolio management platform Caspian is launching trading support for crypto derivatives. 👌🏻
According to an announcement, Caspian has integrated its platform with the Deribit exchange to offer futures and options (F&O) trading in crypto assets with up to 100x leverage options.
According to Caspian's CEO, Robert Dykes, the goal of Caspian is "to provide crypto traders and investors the same standard of tools and service that exist in the traditional markets.”
Also known as Tumbler, it is a service to improve the privacy and anonymity of cryptocurrency transactions by mixing potentially identifiable or “tainted” cryptocurrencies with other unrelated transactions, making it harder to track what the cryptocurrency was used for and who it belongs to.
Other news 📰
The Tezos (XTZ) blockchain has completed its first blockchain vote, in a first round of voting for 2 competing system-wide upgrade proposals. 🗳️
Law firms Miller Thomson and Cox & Palmer has appointed a new committee who will provide guidance in representing affected clients of crypto exchange QuadrigaCX. 👉
The Federal Assembly of the Swiss government has approved a motion to instruct the Federal Council to adapt existing legislation for cryptocurrency regulation. 👍
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
"How much do you agree with this statement: "crypto exchange Cryptopia should not resume trading""
The average vote was a 4.8.
"Why do you say so?"
Investor confidence must be earned. Stability must be proved. - True. I was hacked on BITREX and the hackers stole all my coins selling them for bitcoin then transfering that bitcoin out.This happened to another person that day with around the same amount of bitcoin. BITREX took 3 months to get back to me and I reported the theft to BITREX as it was happening they also took trading fees from stolen goods . Cryptopia was fantastic, they explained everything and will pay back all coins stolen. Cryptopia is an example of how good an exchange can be and I wish them all the best. BITREX in my opinion stole my coins 3.5 Bitcoin and then said to me duck you! - I'm so sorry to hear that. Sometimes, these things just happen and it's really unfortunate. If I may offer a word of advice, it would be to store all your funds in a cold wallet such that you would not be at the liberty of these exchanges. Only treat them as a place to trade and once you're done, immediately transfer the funds out. 👍 They got hacked, happened and happens to ‘all’ companies - Definitely seen way to many. It's unfortunate. 😠 totally agree.. if u cannot secure users fund & cannot pay them back 100% of their fund u should not run an exchange.. equally as users we must also stay away from such exchanges.. - Yup! Their reputation is shot - Definitely. I’d wanna get my money 💴 off as soon as possible, let em’ trade - Oh nooo. I hope you'll be able to retrieve em! 🙏🏻 They should not be allowed to trade till they can prove there softwtare is safe and reliable again. - Or if they can insure their customers. 😊 Sitting on the fence, do not know enough about the history of how they arrived at today's announcement - Do look into it when you have the time. It's worth knowing about these things to protect ourselves as retail investors. Because i have shitcoins which are only listed on cryptopia - Oh myyy. I really hope you'll be able to retrieve them as soon as possible. The more we have the exchanges the better and there ll a lot of competition amongst each other so the better their performance - While that is true due to basic economic forces, you're making the assumption that security is impenetrable. Security should always be the top priority. 🛡️
Thank you all for reading! Catch you back here again tomorrow for your daily dose of crypto news! 💙
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