Daily Email Archive

Humble pie

Your daily newsletter for April 16, 2019
“Success is not a good teacher, failure makes you humble."
- Shah Rukh Khan
Happy Tuesday, CMC fam! I hope you were all able to ward off the nasty Monday blues yesterday. 🤮 Day 2 of the week, let's go! 👍

Today in history (2018), Kendrick Lamar became the first rapper and non classical/ jazz musician to win the Pulitzer Prize for music with his album, "Damn". Damn! 👏

In today's newsletter, we will be covering Brooklyn-based venture studio ConsenSys looking to raise $200 million from external investors, Nestlé, Carrefour and IBM partnering to track a well-known instant mashed potatoes brand on the blockchain and crypto exchange Binance delisting Bitcoin SV (BSV)Also, in our 'Tutorial Tuesday' section, we have another well put together educational video by crypto educational content provider, Goodbit! So don't forget to check that out below too!

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! 📚

Consolidation 🤜🤛
Over the last 24 hours, total market capitalization dropped from ~$177 billion to ~$172.8 billion, with most coins seeing losses in the ~2-6% range. 📉

BTC is currently trading at ~$5,100, down ~1.5% over yesterday. We are experiencing further consolidation at this ~$5,000-$5,200 range, a level that also happens to be above the 200-day EMA line on the daily chart. RSI level on the daily chart has dropped from ~70 to ~63, and is now, while still albeit at high levels, is outside the 'oversold' region. This indicates building bearish momentum and reduced risk taking in the short term. Also on the daily chart, the MACD line has crossed to the downside of the signal line.

Future value 🔮
According to news source The Information, the Brooklyn-based venture studio run by Ethereum co-founder Joe Lubin, ConsenSys, is looking to raise $200 million from external investors. 💰

The firm has been pitching to Chinese investors, and is aiming to draw in $50 million in revenue this year mostly from enterprise and government client contracts. ConsenSys executives have also reportedly been talking to Hong Kong and South Korea investors. 🙏🏻

The Information also cited fundraising documents revealing that ConsenSys only made $21 million in revenue in 2018, coming mostly from its enterprise consulting business. They also reveal that ConsenSys has a considerable share in blockchain companies that it has incubated. 

Potato pact 🤝
Swiss transnational food and drink company Nestlé, French supermarket chain Carrefour and IBM have partnered to use blockchain technology to track Mousline, a well-known brand of instant mashed potatoes. 🧐

Both Nestlé and Carrefour, who are both also part of IBM’s Food Trust blockchain platform, will use IBM's blockchain technology for the initiative. 🤖

Shoppers will be able to scan a QR code with their smartphones and be notified of where the potatoes in a specific packet came from, such as points in its journey to a specific Carrefour store. Other information they will be able to obtain would include the "varieties of potato used, the dates and places of manufacture, information on quality control, and places and dates of storage before the product reached the shelves”. 👌🏻

Don't poke the bear 🙅‍♂️
The world's largest crypto exchange by reported volume, Binance, has announced that it will be delisting Bitcoin SV (BSV) on 22 April. 👋

This announcement came just days after Binance CEO Changpeng Zhao (CZ) threatened self-proclaimed creator of Bitcoin (BTC) Craig Wright, that he would do so if Wright did not cease attacks on Twitter users who are claiming he is not the pseudonymous creator of BTC, Satoshi Nakamoto. 🗣️

According to the announcement, Binance periodically reviews each digital asset it lists and considers factors such as the commitment of a team to the project, the level and quality of its development activity, its network and smart contract stability, the level of public communication, responsiveness to periodic due diligence requests, evidence of unethical or fraudulent conduct and its contribution to the crypto ecosystem.

In a series of follow-up tweets, CZ declared that “Craig Wright is a fraud,” that “the real Satoshi can digitally sign any message to prove it,” and that doing so would be "as simple as breathing for him/ her". 🤪

Following Binance’s decision to delist Bitcoin SV (BSV), anonymous exchange ShapeShift has also decided to delist the cryptocurrency, with crypto exchange Kraken also considering to follow suit.

Blockchain term of the day 🤓 - Merkle Tree
A tree structure in cryptography, in which every leaf node is labelled with the hash of a data block and every non-leaf node is labelled with the cryptographic hash of the labels of its child nodes. Hash trees allow efficient and secure verification of the contents of blockchains, as each change propagates upwards so verification can be done by simply looking at the top hash.

Tutorial Tuesday 🤓 - The Future of Blockchain
In this week's Tutorial Tuesday, our friends over at Goodbit have created an educational video on 'The Future of Blockchain'! Class is in session. Check it out 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 📰
  • Blockchain startup 20|30 has raised ~$3.93 million in a sale of tokenized shares on a London Stock Exchange Group (LSEG)-operated platform. 💰
  • The largest travel management firm in the U.K., Corporate Traveller, has partnered with crypto payments company BitPay and is now accepting Bitcoin (BTC) for payments. 😀
  • Portland State University (PSU) researchers have created a blockchain protocol to prevent counterfeit pharmaceuticals from filling the market. 😬
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! 🤝

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: "More universities should start offering undergraduate programs/ degrees on blockchain technology" 💭
Why or why not? Share with me in the polls! 😆
What you said
"On a scale of 1-10 (10 being fastest), how fast do you feel the crypto space is progressing in 2019?"

The average vote was a 6.1

"Why do you say so?"

Adoption is moving forward slowly with stk and Harvard. And more banks r thinking about using crypto. - Many large college endowment funds such as Yales's (run by David Swensen) or that of the other Ivy's have begun to invest into crypto assets. 👀
i think crypto is showing some maturity & price stability. IEOs way of capital raise is doing great. timepass ICOs are not getting fund. few very fast & scalable blockchain like Thunder, Zilliqa, Cosmos will be live in first half. some of these have very exciting apps lined up. Beam & Grin new privacy coins are going to be good. on the whole we re progressing slowly & good. - The price action over the past year has shown that there is a level of price stickiness in Bitcoin. I believe that is one of the reasons why institutions are starting to view it as a viable asset class to help diversify their portfolios. And yes! Very excited to see how those coins you mentioned will perform for the rest of 2019. 😊
About 30% growth happening this year it appears! This, of course, is still quite large! - Don't focus too much on the price! Follow the fundamental changes. ✍️
Quicker than Slow! - I think so too!
Not set the world alight yet, but got above the $5k mark now and hope to see an accelerated upturn from this base - The good news is that there has been some consolidation at these levels. 😄
Not maximum speed, but very fast... 😀 - I agree. 2019 has been great thus far. Many developments on many fronts! 🔨
It is coming but we are still very early ! - It is picking up though! ⚡
Consumers are getting more & more educated on Crypto !!! - This is huge on helping adoption. Education really is key imo. I feel that it really is hard not to get behind the idea of Bitcoin once you understand it. 🤓
You read and hear about a lot of new things happening, and it does feel like progress is happening. but compared to a year ago, i can't say it happening quicker. Maybe i just want Rome completed in a day. But on some level with a lot of large companies starting to see value in blockchain it feels like it progressing faster. - Big companies have already recognized and acknowledged the potential of blockchain. Many of which have already begun to incorporate blockchain into their business solutions. 👍
BTC To $30000 end of year 2019 - Might be a little early for that, but who knows! I do sincerely believe that we will at the very least get to that level one day. 🚀
Itd getting more attention and is evolving Quite fast but its not the level its capable of - Yup definitely still far from its potential. That's part of why it's so exciting! 😬

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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