The Big 200

Your daily newsletter for May 7, 2019
Thank YOU
“If everyone is moving forward together, then success takes care of itself."
- Henry Ford
CoinMarketCap family, it comes with great pride and pleasure for me to say this: 

This is our 200th newsletter edition!!! 

200! Can you believe it? 🎉 It's amazing how the family just keeps growing and growing! When we first started, we only had less than 500 subscribers. Now, the family has grown to be in the tens of thousands! 🤯

I can't thank you all enough for the tremendous support you've all shown me over the past 9 months. 🙏 It truly is remarkable. I will continue to strive to deliver to you all the best content possible, and make this the number #1 newsletter in the crypto game. 💪

Today, please do take it to the polls below to provide some feedback on how to improve this newsletter. Your feedback is always taken very seriously because ultimately, this newsletter is about YOU guys and what YOU want to see! 😆Okay, enjoy today's newsletter! 

Today in history (1994), Edvard Munch's world-renowned painting "The Scream" is recovered 3 months after it was stolen. 😱 It was stolen from a Norwegian art museum, and recovered in an undercover operation, in which British detectives posed as art dealer to trick the thieves into returning the painting.

In today's newsletter, we will be covering Fidelity Investments to soon be launching institutional Bitcoin (BTC) trading, the NYAG requesting Bitfinex to disclose Tether deal documents and a Bitfinex shareholder releasing promotional material for the exchange's upcoming $1 billion IEO. 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! 📚

Behind the scenes 🤔
Over the last 24 hours, total market capitalization steadily rose from ~$180.7 billion to ~$188.4 billion, with most coins seeing gains in the ~2-8% range. Notable movers of the day include OmiseGO (OMG), Nano (NANO) and ChainLink (LINK), each up ~12.5%, ~12% and ~12.9% respectively. 📈 24 hour volume registered ~$55.8 billion.

BTC is currently trading at ~$5,940, up ~4.5% over yesterday. It is now attempting to break through the very heavy resistance zone of ~$5,800-$6,400. RSI on the daily chart is currently at ~78, well in the 'oversold' region. 👊

While it's nice to see the BTC chart being healthier than it's ever been, finally having 2 successive closes above the 200-day EMA line and one close above the 50 MA line (feats it has also not been able to accomplish since mid May last year), we cannot ignore what is going on fundamentally with the huge FUD going on with Bitfinex and Tether. 👀 Bitfinex currently looks very much like the new Mt. Gox of the space, and things are escalating with the New York Supreme Court investigating. Given how big these 2 companies are within the space, a blowup here could see its effects reverberating throughout the entire crypto industry. 😔


Heaven's gates 🤑
According to a recent Bloomberg report citing “a person familiar with the matter”, financial services company with ~$2.46 trillion assets under management, Fidelity Investments, will soon be launching Bitcoin (BTC) trading focused on institutional customers "within a few weeks”. 😊

According to Fidelity spokeswoman Arlene Roberts, Fidelity currently has a "select set of clients" they are supporting on its platform, and plans to "roll out our services over the coming weeks and months based on our [their] clients’ needs, jurisdictions, and other factors." She also added that their "service offering is focused on Bitcoin”.

Fidelity Investments also launched cryptocurrency custody service earlier this year.

Boost 🚀
PepsiCo has conducted a blockchain trial, dubbed “Project Proton,”  that brought a 28% boost in overall supply chain efficiency. PepsiCo’s project partner and media agency who assisted in the trial, Mindshare, recently announced the news. 👍

The trial involved a programmatic end-to-end supply chain reconciliation using Zilliqa’s (ZIL) blockchain platform, by using ZIL's smart contracts to automate the programmatic supply chain.

The trial was conducted in the Asia Pacific region. According to PepsiCo’s director of consumer engagement for the Asia, Middle East and North Africa, Farida Shakhshir, "the results are encouraging, and we [they] plan to run a few more campaigns under different conditions to verify more hypotheses and measure overall impact.” 🧐

Other partners in the project included online advertising company Rubicon, programmatic marketing technology firm MediaMath and media firm Integral Ad Science. The partners now plan to run a second phase with the addition of payments to publishers and more performance metrics. 

Phew 😅
The Tron Foundation recently disclosed on vulnerability disclosure platform, HackerOne, a fixed critical vulnerability which could have crashed its blockchain. 😲

The disclosure explained that the blockchain was vulnerable to attackers who, with sufficient malicious requests, could have filled up all the available memory and effectively perform a DDOS attack on the TRX network. 

The cybersecurity researcher who discovered and disclosed the vulnerability was given a bounty of $1,500. 🗣️This issue was first reported on 14 Jan this year, but was only publicly disclosed recently after it was fixed. 

Blockchain term of the day 🤓 - 51% attack
If more than half the computer power or mining hash rate on a network is run by a single person or a single group of people, then a 51% attack is in operation. This means that this entity has full control of the network and can negatively affect a cryptocurrency by taking over mining operations, stopping or changing transactions, and double-spending (reusing) coins.

Tutorial Tuesday 🤓 - What is a Wallet?

In this week's Tutorial Tuesday, our friends over at Goodbit have created an educational video on 'What is a Wallet?'! Class is in session. Check it out here!


Other news 📰
  • During Berkshire Hathaway’s annual meeting in Omaha, Nebraska, Warren Buffet told reporters that he still couldn’t support Bitcoin and that he thinks “it’s a gambling device". 🎲
  • According to a Gab (a social network for people banned from mainstream platforms for hate speech) post by political commentator known for espousing controversial far-right views, Milos Yiannopoulos, the crypto exchange Coinbase has banned his personal account on its platform. 🙅‍♀️
  • According to executive Thomas Zeeb at Switzerland’s top stock exchange, SIX, the planned SIX digital exchange will go live with a native token and an “initial digital offering” (IDO) service in 2020. 😲
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! 🤝

8-11 Jul      - RISE Conference 2019 (Hong Kong)
10-11 Jul    - Barcelona Trading Conference (Barcelona, Spain)


Poll of the Day
On a scale of 1-10 (10 being maximum enjoyment), how much do you enjoy reading the daily newsletter? 💭
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Why do you say so? How would you like this newsletter to be improved upon? Share with me in the polls! 😆
What you said
"How much do you agree with this statement: "I will not be participating in the Bitfinex Initial Exchange Offering (IEO)""

The average vote was a 7.2. 54.2% of voted a "10". I think that is awesome, hahaha. Personally, I would not touch that thing with a 100-foot pole. 😨 Apart from the uncanny time the exchange has chosen to launch the IEO (at a time when the NYAG is investigating into its sister company Tether), a 1 billion IEO would not have much upside potential simply because the market capitalization is too high. The token economics do not permit it. For example, which do you think has more growth potential (in relative terms of vs. growth of BTC): $10,000 market capitalization coin, vs a $10,000,000 market capitalization coin? 🤔

"Why or why not?"

Do not trust it. - Me too. ✋

No one in their right mind should be giving Bitfinex (or Tether) ANY money at this point in time! 💸 💸 💸 - Agree! 👍

i am not have a positive feeling about this exchange.. for will not. - Many of us too! 

That’s outta my wheelhouse, way over my head, just getting rolling with a future plan of investing k.i.s.s. For now🙀 - 🤣

No just no but HELL no. There is far too much smoke coming from them! - Where there is smoke, there is usually fire. Take caution! 🔥

Why even ask. - I mean I trust you guys to make the right decision and all, but, I just had to. Hahaha. 🤣

Not interested! - Good decision, imo. 

I'm not going to help them come up with the money to cover their ass scammers - The uncanniness is palpable. 😜

Why - LMAO yes, why?! 🤣

all of that needs a hard struggle to succeed - very true. 👍

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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