You're all awesome - CoinMarketCap Blog

Your daily newsletter for May 8, 2019

Humbled

“I don't have to chase extraordinary moments to find happiness - it's right in front of me if I'm paying attention and practicing gratitude."

- Brene Brown

Happy Wednesday, CMC crew! Thank you so much for your kind words and great suggestions in yesterday's poll section. 🙏🏻 I want to let you all know that your voices are heard! The CMC newsletter is just gonna keep getting better. 💪

Today in history (1980), the World Health Organization announced that smallpox has been eradicated. 💊

In today's newsletter, we will be covering crypto exchange Binance getting hacked for 7000 Bitcoins (BTC), Orchid Labs raising another ~$7 million in funding and Starbucks working with Microsoft to track global coffee shipments.

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! 📚

Backstep 🚶

Over the last 24 hours, total market capitalization slipped back from ~$188.4 billion to ~$184.3 billion, with most coins seeing losses in the ~2-6% range. 24 hour volume registered a ~$51.4 billion, and BTC dominance is currently at the highest its been since mid Sept 2018 at ~56.3%.

BTC saw a ~1.1% drop to ~$5,870. RSI on the daily chart is currently at ~75. It is also trading near the upper Bollinger Band, which is close to 2 standard deviations above the 20 day MA line. Also on the daily chart, the MACD line is about to cross to the downside of the signal line, so we may see some downward movement in the upcoming days.

Ouch! 💉

Binance, the world’s largest crypto exchange platform by volume, announced that on 7 May, hackers had stolen 7000 Bitcoin (BTC), currently worth ~ $41 million. 💸

According to Binance’s statement, the breach only impacted Binance’s hot wallet, which contains ~2% of the exchange’s total bitcoin holdings. The exchange froze withdrawals immediately after the discovery and while deposits and withdrawals will remain suspended for the upcoming week, trading has been re-enabled. Binance will conduct a “thorough security review” next week.

The exchange will use its Secure Asset Fund for Users (SAFU fund), comprising of ~10% of all trading fees absorbed by the exchange and stored in its own cold wallet, to cover the loss. 😌

A healthy injection 💰

Orchid Labs, a project seeking to "build open-source software that keeps the Internet open and accessible", has raised another ~$7 million in funding, bringing its total amount raised to ~$48 million. 💰

Orchid Lab's protocol incentivizes users through micropayments to share their bandwidth with other users. By doing so, the protocol will be able to break u traffic and route it through various nodes on the network, and make it difficult for an adversary to determine who is visiting the website, similar to how the TOR system works. It is being backed by the likes of Andreessen Horowitz and Blockchain Capital.

According to co-founder Steven Waterhouse, "Orchid Labs’ mission is to build open-source software that keeps the Internet open and accessible" and "play a part in driving the VPN market towards more transparency, privacy and fairer pricing." Also according to him, Orchid Lab's first consumer-facing product, the Orchid App, will be out soon. It is a mobile VPN on iOS and Android that can mask users’ internet traffic by routing it over the nascent Orchid network.

Far reaching benefits 👐

According to an announcement from Microsoft, Starbucks is reportedly working with Microsoft to use its Azure Blockchain Service to track global coffee shipments and bring about “digital, real-time traceability” to its supply chains. 🤖

Microsoft’s blockchain service will record all changes along the journey of the coffee on a shared ledger, and provide permissioned parties with a “more complete view” of the supply chain. In turn, Starbucks will use that information to bring a new feature to its mobile app, and give customers a better idea on the origins of their coffee and its taste profile. 😲

Starbucks also hopes to empower their growers (who manage about 380,000 coffee farms in total) with this knowledge/ data and shed insight on where their beans end up in consumers' cups, and "support them in ultimately improving their livelihoods". Starbucks is currently talking to coffee farmers in Costa Rica, Colombia and Rwanda to find out more about how this initiative can best benefit them.

Blockchain term of the day 🤓 - Atomic swap

A way of letting people directly exchange one type of cryptocurrency for another on a different blockchain or off-chain without a centralized intermediary such as an exchange.

Other news 📰

Wechat has updated its payments policy to ban merchants on the platform from engaging in cryptocurrency-related activities. 🙅‍♂️
Ant Financial, the payments affiliate of Chinese e-commerce giant Alibaba, has backed a $10 million round for blockchain privacy startup QEDIT. 💰
Privacy cryptocurrency Grin has received an anonymous donation of 50 BTC (~$300,000). 💰

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 most shocked), how shocked are you that Binance got hacked? 💭

Why do you say so? Share with me in the polls! 😆

What you said

"On a scale of 1-10 (10 being maximum enjoyment), how much do you enjoy reading the daily newsletter?"

The average vote was a 8.6. 54.6% of you guys voted a '10'. That's hella awesome! 🤘Thank you so much you guys! I truly appreciate you all taking the time to provide feedback. We take these things very very seriously, as we want it to be a product of you all. I do hope that you will continue to lend me your support going forward! 😀

"Why do you say so?"

I'm a newbie to the letter. - Well I'm glad to have you here with us! Welcome! And feel free to provide feedback in the daily polls whenever. It's always great to hear what the newbies have to say! 👍

Have not read it very much at all so my score is based on what I see so far. - Fair enough 😊

The news stories are very relevant. I read CMC first and then I always see repeats of their news stories elsewhere. I also like the tutorials and the daily terms. Keep up the good work CMC and congrats! - Thank you so much for your kind words! It's so awesome to hear that this newsletter is your first source of crypto news for the day. Really motivates me to keep giving you the good stuff. 💪

Very informative and fun - Gotta keep it light yet informative! One aim of the newsletter is to help you start your day off right. ⚡

Easy to access - It's gotta be!

Just getting started investing. This information is very helpful - That is awesome! I'm so happy that this newsletter can be of some use to you in your investments. 👌🏻

happy 200th .. i love the the newsletter & look forward to it everyday. thanks to everyone at coinmarketcap for the hard work & time spent to deliver this to us.. best wishes. - Awww, thank you so much for your kind words. Truly! Recognizing the effort that I put into this newsletter really motivates me to continue putting in more and more work to provide better content for you. It means a great deal! I also hope that you continue to lend us your support. 🙏

It's educational, informational and fun! - The trifecta! I have to keep it that way because I don't want to bore you first thing in the morning. Instead, I want this newsletter to be light and able to perk you up. 😬

Its relevant but the emojis make me feel like a 14yr old typed it up. I don't want to feel that way. - Oh man, sorry you feel that way. 😔 There has been tons of feedback regarding the usage of emojis. Whenever I reduce it, some request for it to return to the way things were. When I increase it, some request for me to take it down a notch. It's really hard to find that sweet spot. It's been a love-hate battle. But thank you for your feedback. This is definitely something I am working on to better cater to the majority. 💪

I like to start the day well informed, so the first thing I do in the morning is take my coffee cup and look in my mail for the CMC newsletter!!! - That means the world to me. The newsletter is like your e-coffee! ☕ Thank you so much for your continued support. 💖

It is a part of my daily routine. - Wow! You know, now that many see this newsletter as a staple in their morning routine, there is an added responsibility on my shoulders to produce better and better content for you guys. It's both exciting and a little nerve-wrecking. 😂

I did enjoy it it gives the info I want and need! - That is splendid news. Glad you are able to find the content useful! 😊

It's concise and I have multiple choices of articles to read or not. The information is timely and accurate. - The necessary requirements of a good newsletter, to deliver timely news that is also factual and precise. Throw a little humor in there and its the perfect one! 👌🏻

Concise overview - Short and sweet!

Concise and to the point!! - It has to be! Long reads can be a real bore, don't ya think? 🤔

I've just read that Coinbase has closed Milos Yiannopoulos's account for his "far right views." That's a loaded term to describe his views. Delisting BSV was a very bad precedent. Now this. Who or what's next? Very discouraging for cryptos. - Curious to know how you would categorize it. And BSV is still on our site! 👀

It's good for busy peeps who are interested in crypto but don't want to read long ass articles that you can hardly understand. CCM is good in that it gives you just the right amount of information. - Thank you for your kind words! I believe you mean CCN? You can try CoinTelegraph too. Great source of news as well. 🗞️

I like getting some crypto news and seeing the poll results. They're a nice way to keep up with what some community members opinions are of current events. - Yes I agree. Crypto can get quite individualistic sometimes, so it's great to build communities that foster healthy discussions so we all can grow together! 💪

get good updates - Why thank you! I aim to please! 🙏

It sets up my day. - That's just so rad. Very pleased to know that it does.

I find it to be exciting - Oooo, that's a first. I'm guessing you look forward to it? If so, that is so fireee 🔥

10, 10, 10 .......... caus maximum enjoyment know what I’m saying, do you have to be so stingy with the emoji, let’s get that emoji game on point, love y’all THANK YOU 🔥🥂🎱🤡🤜🏻🤛 - Hahaha you're awesome! You sound like someone I would totally kick it and chill with. 🤙 Thank you for your words of encouragement too! It really means the world to me. Gonna work towards bringing my emoji game to your level too.

Good and inspiring - Your viewership inspires ME! Thank you for reading! 🙃

Rely love th contant - It's great to hear that. Please do continue to lend us your support and tune in!

Instead of searching random things on internet I get major happenings straight in my inbox. - It's like a whiff of a morning fart - it's straight to the point, and you'll quite never know what you'll exactly get. 😂

The newsletter makes this new concept easy to understand, and keeps a lot of spread out info, all in one place. I especially enjoyed goodbit101 - Yeah we figured that providing condensed news would be much appreciated. And yes, Goodbit's content is great! Very happy to be working with them! Like us, they genuinely believe in the space and want to help drive adoption! ✊

For all crypto news, ideas and information it's my go to place....wouldn't have it any other way - That is just lovely. Thank you, thank you, thank you!

I love having most important stuff that happened over the last 24h right in my inbox without the need to visit 10 different sites and going through tons of irrelevant stuff. Thank you very much and keep up the good work! - Well that's the aim! We recognize that there is a growing appreciation for condensed news, so people can quickly get along with their day. So, we do all the hard work for ya to give you guys that! 👌🏻

It's very informative, updated info - Thank you! Do continue to lend us your support!

First order of the day! Keeps me sane. - A CMC newsletter a day, keeps the doctor away. 😬

Very Good informations - Thank you so much! 💖

Congratulations first of all. It's not easy to do a good job and then consistently do it every day - which is what you've done 200 times now 🙂 I get way too many emails, recently done a lot of cleansing and unsubscribing, this is one of the few I kept. For me it's often the only Crypto news I get in days or a week, so it's great that it covers mostly what I need to know. Keep up the good work! - Glad to hear that this newsletter survived the purge. 🤣 And hey, thank you so much for your kind words and encouragement! People like you motivate me to keep pressing forward. Sometimes, I don't even feel like I'm working at all! I will definitely continue working hard to secure that spot in your mailbox hahaha.

"How would you like this newsletter to be improved upon?"

More videos on how to find your lost coins like on Meta Mask and MEW> - Oh nooo, I hate to be the messenger of bad news but, if you've lost coins on Metamask and MEW (e.g. you've sent coins to the incorrect address), you won't be able to retrieve them. 😨Unless you have the private key to the address, you won't be able to get them back. That's the thing about crypto, more autonomy to the end user, which also comes with more responsibility! We will definitely produce some content on how to improve personal security measures soon!

I really can’t think of anything of hand. - Well when you finally do, feel free to write in in the daily poll section anytime! 😊

Tell a brief synopsis of a coin every day. - Thank you for your suggestion! While we do have a weekly deep dive every Friday, this could be a good idea as well. Definitely putting this into the think tank! ✍️

u guys are doing great.. keep doing the same.. thanks for the hard work u guys put behind this.. u guys are the best. - No thank YOU! We are very blessed to have people like you supporting us. Stay awesome! 😀

I'm a 'Guy' but I believe that there are many 'Gals' that are reading the newsletter daily so lets make sure they feel like they count too! - You're totally right, good point! Thank you for your input. Gotta show love to errbody and anybody. 💖

Must be more complete and longer - Hmm while I think there is a preference for condensed news, I do believe some people appreciate. I will look more into finding ways to strike a good balance that caters to as many people as possible! 👀

I have confidence in your abilities, Surprise me!!! - Hohoho, can't wait to show ya what else I have up my sleeve. Do stay tuned! 😉

The only suggestion is the same one I have had before. When you report news, give a link to the original source for those who want to read more AND to validate your reporting. - Thank you for writing in again! I am definitely looking into this, for all the valid reasons you mentioned. The thing is sometimes, when there are too many links, the newsletter lands in your spam folders (it's an anti-scam mechanism), so I definitely would want to avoid that. A way around this would be to get everyone to whitelist my address, but it'll be tough to get everyone to do it. I would much rather subscribers open the newsletter without the links, rather than not receive the mail at all. Still thinking of a solution to this, so if you have any suggestions, please do write in whenever! 😀

I will need to read it again a few times, this was my first - Welcome! Very glad to have you on board! It's great that you are able to join us on this journey. ✊

Bigger font for airplane reading. Re-format to make skimming easier--boxes, color blocks, indents. - Thank you for your feedback! Duly noted! 😊

Small Bitcoin chart......would be intuitive. - That is sometimes shown in the daily price action market analysis segment, but it could be a good idea to make the BTC chart a permanent fixture. Please write in again in today's newsletter to let me know where you would ideally like it to be placed. ✍️

Be more impartial. I can get propaganda anytime I want. - I always thought I was being impartial. 🤔 Thank you for this. I will put in more conscious thought to make this so.

More visuals for us visual douchebags - Lmao, legit laughed at this. I know many of y'all are visual learners. Don't you worry dawg. I got you guys! 👌🏻

I still think the infographic pictures on Friday are a little small / hard to read. Other no major suggestions for now :D. - Oh thank you for the feedback! I will make the adjustments for this! 👌🏻

I was a big fan of that color text - Hahaha glad you liked it! I can't do that too often though. Some people can get really distracted by them. I will think of a way to suit a nice medium for everyone! 🤔

Cause i like this - Glad to hear you do!

I think you should include some column about the emotion of market. The variation of Google trends and how the mainstream media is reacting. - That is kinda covered in the daily price action segment of the newsletter! but thank you for the feedback. I will do what I can to make it more explicit! 👀

Keep it real - Only way I know how to do it cuz. 😉

I'd like to see it in a template newsletter type format rather than straight down text - Thank you for your suggestion!

A downloadable file. - Good suggestion! Thank you. An alternative would be on our main site, if you click on 'Resources' -> 'Newsletter' -> 'See previous newsletters', you'll be able to check out our archive. You can then click 'save as' on the ones you like. Meanwhile, a downloadable file from the get go will be put in the think tank. ✍️ Thank you!

If I thought I could improve your newsletter...I would be doing one. keep up the great work! - Hahaha, you're the best. Thank you for your continued support. 🙏

Better is the enemy of good - Polish proverb. Not everything needs to be constantly tweaked and improved. Keeping consistently high level is sometimes really all that's needed. Keep at it 🙂 - Sounds very much like 'don't change a winning strategy'. That is an awesome proverb. Gonna write that down somewhere! And thank you for your words of encouragement! 😀

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