Daily Email Archive

Don’t worry be happy

Your daily newsletter for April 4, 2019
“It isn't what you have or who you are or where you are or what you are doing that makes you happy or unhappy. It is what you think about it."
- Dale Carnegie
Day 4 of the week. Keep that grind going. The weekend is nigh! 👀

Today in history (1973), the World Trade Center in New York, then the world's tallest building (110 stories at 546m), opened to the public. It was later destroyed in the horrific September 11 attack in 2001. 😠

In today's newsletter, we will be covering the U.S. SEC releasing new regulatory guidance for token issuers, the U.S. SEC issuing its first “no-action” letter and a new report by the World Economic Forum discovering that more than 40 central banks are considering blockchain currencies.

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! 📚

Yet to be proven 💭
Over the last 24 hours, total market capitalization remained at ~$173.6 billion, and kept daily volume levels high at ~$84.8 billion. Most coins are either seeing gains or losses in the ~1-5% range. 👀

BTC is currently trading at ~$5,010, up a modest ~0.8% over yesterday. Earlier in the morning, BTC broke through the $5,000 mark and at one point was even trading at $5,300! While it is great that BTC is now trading above the 50-day EMA line on the weekly chart, and the 200-day EMA line on the daily chart, in order to present a stronger case that BTC has bottomed, we need to see some consolidation at the current price level it is trading at. This is because when BTC fell through ~$6,500 to ~$4,200 in mid Nov 2018, it did so in a really quick way, illustrating the weak support and resistance between these levels. ⚡

About time 
The U.S. Securities and Exchange Commission (SEC) has released a long-anticipated new regulatory guidance for token issuers, nearly half a year after it was announced. 😊

The guidance focuses on tokens and also outlines how and when these cryptocurrencies may fall under a securities classification. It would help token issuers determine whether their cryptocurrency qualifies as a security offering.

It outlines a number of factors that token issuers must consider, such as an expectation of profit, whether a single or at least central group of entities are responsible for specific tasks within the network, and whether a group is creating or supporting a market for a digital asset. ☑️

While the guidance discusses securities classifications, the SEC has yet to clarify the idea of custody for broker-dealers holding cryptocurrencies.

Firsts ☝️
The U.S. Securities and Exchange Commission (SEC) has issued the first “no-action” letter to TurnKey Jet, Inc., clearing the way for them to sell tokens in the U.S.. 👍

The regulatory stamp of approval is based upon the company using its tokens under certain conditions, with the most interesting provision requires that the tokens not be transferable.

TurnKey Jet is based in Florida and domiciled in Delaware and has been in operation since 2012. The company describes a number of inefficiencies in its industry that it believes smart contracts can help solve.

Digitization 🤖
According to a new report by the World Economic Forum, more than 40 central banks worldwide are considering blockchain currencies. The report analyzes how different central banks are either examining the utility of blockchain or are outright experimenting with central bank digital currencies (CBDCs). 💲

One area that will likely benefit from Digital Ledger Technology (DLT)-based systems, including central bank digital currencies specifically, are emerging markets like Cambodia. Presently, domestic interbank payments and settlements in many developing economies are inefficient.

Blockchain term of the day 🤓 - ERC-721
A token standard for non-fungible Ethereum tokens. An Ethereum Improvement Proposal introduced in 2017, it enables smart contracts to operate as tradeable tokens similar to ERC-20 tokens. Non-fungible tokens are non-interchangeable, unique, and non-divisible. 

Special announcement 📢 - 'A 10-Year Perspective: From Genesis to Today' webinar with Karthik Iyer
Join us in our second webinar as Karthik shares the history on how the crypto space came to be. From the day Satoshi Nakamoto announced the first Bitcoin client on the P2P-Foundation website, to how everything transpired and evolved to its current state. Join us as he takes us in a trip back in time in the cryptoverse!  

Karthik Iyer is an ambassador for the P2P-Foundation, venture partner of Genesis Block NYC and CEO of BlockchainMonk!

The webinar will take place on 14th April 2019, 10pm Eastern Time (UTC-4) / 15th April 2019, 10am (GMT+8). But before all that good stuff, be sure to fill our the pre-webinar survey form here

Special announcement 📢 - CoinMarketCap Mobile App Beta Launch
Calling all CoinMarketCap crew... 🤙

We are soon going to be launching our new CoinMarketCap mobile app! If you are interested in participating in our private beta launch and help us test it, simply fill out the form here! What are you waiting for! 😀

Other news 📰
  • The Dolder Grand, a five-star hotel based in Switzerland, is set to accept Bitcoin (BTC) payments starting next month. 🤗
  • Crypto trading platform Liquid.com has closed it funding round that values it at over $1 billion. 🤑
  • The Jamaica Stock Exchange is set to launch a limited pilot to trade Bitcoin (BTC) and Ethereum (ETH). 😲
Crypto calendar 📅

16 May - U.S. SEC's decision on the NYSE Arca and Bitwise Asset Management's Bitcoin ETF application
21 May - 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! 🤝

8 Apr          - The Global Hackathon (Los Angeles, U.S.)
18-19 Apr   - Blocklive.Asia (Singapore)
23-24 Apr   - 3rd International Blockchain Life 2019 Asia (Singapore)
25-26 Apr   - Trescon World Blockchain Summit Taipei (Taipei, Taiwan)
25-26 Apr   - DLT 101 Taipei (Taipei, Taiwan)
23-24 May  - Malta Blockchain Summit (Malta)
8-11 Jul      - RISE Conference 2019 (Hong Kong)
10-11 Jul    - Barcelona Trading Conference (Barcelona, Spain)

Poll of the Day
How much do you agree with this statement: "Initial Exchange Offerings (IEO) are the new Initial Coin Offerings (ICO)." 💭
Why or why not? Share with me in the polls! 😆
What you said
"How much do you agree with this statement: "Bitcoin will be able to break through and hold the $5,000 level this week""

The average vote was a 8.1. Digging the optimism! 💪

"Why do you think so?"

because the bull is coming - It's been a long time coming. Hopefully this time it's really coming back. 🙏🏻
It's at $5,100 at the time of writing - Question is whether it can actually hold at this level. There isn't much resistance in the $4,200 to $6,500 zone. 🤔 
time for the new move of 2019. - This bear run has been going on for wayyy too long. It's the longest bear run in crypto market history. 🐻
I think it will attract a lot of sheeple, that's why I go with altcoins - I see what you're doing. Alts have a higher beta compared to Bitcoin, so there could potentially be higher returns. 🤑
There has been a little buzz from the nons, I feel we can be above 5k for a few days a whole week...it’ll be close, things are looking good and feeling good (billy Ray) I still think we are on a path that will drop us a little lower before the b-a-n-g 🚀 boom 💥 💥 pow. I believe ✊ - Legit lol-ed at the 'bang, boom, pow'. To the moon! 🚀
it was always "when" not "if" and that when is now - Let's hope so! From a TA perspective, things are definitely looking a ton better. 👌🏻
it is how it is 😀 - That's what Max Holloway, the current UFC lightweight champ and also one of my favorite fighters, always says. It's all about going with the flow! 🌊
It already did 😉 - We can only hope! 🙏🏻
Strong fundamental - Charts are looking way healthier rn. 🏥
Too soon, too good to be true - Very possible too. 
Strong support and I don't see it breaking down anytime soon. - Support is not that strong! 
100% percent. in fact as i write BTC is 5020$. - Question is whether it can sustain these prices and see some consolidation. 👀
It’s only been 3 months into the year and there is a lot of new ppl / accounts . Also the stock market is in a bad way and ppl are going to look to invest elsewhere. And more and more big companies and banks are starting to put big amounts of cash into the industry. - The overall sentiment has indeed been shifting slightly. I have feeling, the next few months are gonna be really interesting! 😊
I hope it does, but i think another week or two will be needed to reach and hold $5k range. yet we all know how undervalued it is. - Yup, we defo need to see some consolidation at these levels in order to present stronger case that BTC has bottomed. 👍
Daily volume is up. This time it might be real - Don't you just love seeing high levels of volume! 😍

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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