Daily Email Archive

Just like old times

Your daily newsletter for May 17, 2019
I would rather be in the cycle where people are underestimating us. It gives us latitude to go out and make big bets that excite and amaze people."
- Mark Zuckerberg
What a crazy ride this week has been! 🤪 The rollercoaster price swings, Consensus 2019, exciting new fundamental developments on the horizon - this is why I love crypto! 💓

Today in history (2004), Massachusetts became the first U.S. state to legalize same-sex marriage. 👭

In today's newsletter, we will be covering privacy-centric internet browser Brave looking to raise $30–$50 million, New York Supreme Court's injunction stipulations on Bitfinex and Tether and crypto exchange Poloniex stopping the U.S. customers' trading of 9 cryptocurrencies in fear of regulatory backlash. Today, we will also be covering Holo (HOT) in our weekly deep dive! Also today in our 'Blockchain term of the day' section, we have another well put together infographic done by cryptocurrency index building and trading automation software, Panda Analytics! There is also a special announcement today pertaining to crypto casino, BitcoinCasino.io! 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! 📚

Pull back 📉
Over the last 24 hours, markets retraced and total market capitalization fell from ~$246.9 billion to ~$230.1 billion, with most coins seeing losses in the ~7-15% range. Notable mover of the day is Chainlink (LINK), currently up ~12%

BTC is currently trading at ~$7,330, down ~8.4% over yesterday. It seems like, in typical market psychology 101 fashion, a good portion of the market took some profits from the parabolic uptrend. 😊 RSI level on the daily chart is currently at ~65.8. BTC is also now back trading within the Bollinger Bands (+- 2 standard deviations from MA line). 

Moarrr! 🤑
Privacy-centric internet browser, Brave, is looking to raise $30–$50 million in a Series A equity round, at a valuation of ~$133 million to fuel growth. This comes after the project was able to raise ~$35 million under a minute in an initial coin offering (ICO) back in 2017. 💰

The Brave project is led by JavaScript creator and Mozilla Firefox co-founder Brendan Eich, and it first gained attention in 2016 with its ad-blocking browser after raising $4.5 million from a seed round that saw the likes of Pantera Capital, Founders Fund and Digital Currency Group investing. 

Recently, Brave also launched its Brave Ads product, where users are rewarded with BAT tokens for choosing to view advertising. 👍

On lockdown 🔒
Judge Joel Cohen of New York's Supreme Court has ordered crypto exchange Bitfinex and affiliated stablecoin issuer Tether to turn over documentation about a $625 million loan and a $900 million line of credit Tether provided to Bitfinex, alongside several other stipulations in an preliminary injunction. 📝 

The other stipulations include Tether not being able to loan any assets to Bitfinex or other parties (except in the normal course of conducting its business); Tether not being able to distribute any funds from its reserves to anyone except for payroll and normal contractors, consultants or vendor payments; neither Bitfinex nor Tether are to modify in any way documents asked for in the NYAG’s original subpoenas. 🙅‍♂️

However, it is notable to add that Tether can now still invest its reserves as part of its normal operations. In a previous court filing, Tether said that it used its reserves for investment purposes, though it is unclear what it is investing those funds in. 😠

According to Cohen, the preliminary injunction, which will expire after 90 days, was "tailored to address OAG’s legitimate law enforcement concerns while not unnecessarily interfering with Respondents’ (Bitfinex's and Tether's) legitimate business activities”.

To err on the safe side 
Crypto exchange Poloniex announced in a Medium blog post that it will U.S. customers from purchasing 9 crypto assets, namely Ardor (ARDR), Bytecoin (BCN), Decred (DCR), Game Credits (GAME), Gas (GAS), Lisk (LSK), Nxt (NXT), Omni (OMNI), and Augur (REP), fearing regulatory backlash as they are deemed to be dangerously close to being securities under U.S. law. 🤔

According to the post, "it is not possible to be certain whether U.S. regulators will consider these assets to be securities." While non-U.S. customers will still have access to these tokens, U.S. customers who still hold balances in them will have to finalize all trades and close any positions in these assets by 29 May. Once delisted, customers will be able to withdraw these assets from their wallet for as long as the exchange supports the asset.

Blockchain term of the day 🤓 - Delegated Proof of Stake (dPOS)
Crypto deep dive: Holo
  • Cryptocurrency: HOT
  • Market Capitalization Rank: 42nd (~$176.9 million)
What it's about ⚙️
  • Holo (HOT) is a decentralized application platform that uses peer-to-peer networking for processing agent-centric agreement and consensus mechanisms between users. 
  • No true global consensus is maintained. Instead, each agent in the public blockchain maintains a private fork that is managed and stored in a limited way on the public blockchain with a distributed hash table. 
  • Every device on the network functions independently, and only requires the synchronization of data when necessary, or agreed upon by users. This translates into higher scalability for dApps hosted on Holo. 
Why people love it 😘
  • It is unique in that it isn't really a blockchain. The distributed hash tables do not act as one large blockchain, but rather they simply work synergistically with one another as small interconnected ones. (A little confusing, I know!)  
  • The HOT architecture is extremely light, scalable and efficient. You may even be able to run a node on your mobile phone. 
  • The development team at HOT is impressive and dedicated, as seen from their very active Github repositories and number of commits. 
  • HOT is only a small part of a larger overarching vision. Holo is part of "Ceptr", the tech layer that implements the ideas of "MetaCurrency" (which Ceptr is under). Metacurrency is seeking to disrupt and revolutionize the whole world’s financial system.
Why people doubt it 🤔
  • Very little emphasis on marketing. It's easy to sleep on this project if not for their large market capitalization. 
  • It does not have a capped total supply, which means HOT tokens by nature are inflationary.
Special Announcement 📢 - BitcoinCasino.io
Calling out to all risk seekers! SoftSwiss has launched a new online cryptocurrency casino licensed out of Curaçao in South America, BitcoinCasino.io, and is now accepting players from anywhere around the globe!

Powered by an elegant and user-friendly interface, available on all devices (PC, MAC, mobile, tablet), the platform boasts an assortment of more than 3000 games, designed by the gaming industry’s 30 leading software providers such as Amatic, EGT Bgaming NetEnd, Microgaming and more.

The site accepts deposits across a wide range of fiat options and cryptocurrencies, including USD, CAD, EUR, BTC, ETH, LTC, DOGE, BCH and USDT. More importantly, you'll be able to enjoy uber fast withdrawals (5-10 min average times) and round-the-clock 24/7 online support for you to play with ease of mind!

Don’t worry, you can bet happy! Take a chance, check them out here today!

Other news 📰
  • Internet browser Opera is working to integrate support for Tron’s TRX and TRC-standard tokens in its browser-based crypto wallet. 🔨
  • Ripio Credit Network (RCN), a startup focused on credit and working to boost crypto adoption in Argentina, will also be opening a new exchange platform for Latin American markets Argentina, Brazil and Mexico. 😄
  • According to a recent study by blockchain analysis startup Chainalysis, 376 individuals hold ~33% of all Ethereum (ETH). 😲
Crypto calendar 📅

16 May - U.S. SEC's decision on the NYSE Arca and Bitwise Asset Management's Bitcoin ETF application (decision has been delayed)
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
How much do you agree with this statement: "This has been 2019's most exciting week in crypto" 💭
Why or why not? What are your plans for the weekend? Share with me in the polls! 😆
What you said
"On a scale of 1-10 (10 being most likely), how likely do you think the crypto market will continue rising in the coming days?"

The average vote was a 6.8.

"Why do you say so?"

Magic 8 Ball says “You may rely on it”! It’s going up, up, up Baby! Institutional investments and market sentiment point to a rise in prices. Right!? - Yes, it seems that we have now shifted into a bull market. 👍

i think crypto will find more adaptation in coming days... we will be seeing institutional fiat money pouring... all in all i see very good market conditions in days to come.. just a caution not every coin / token will rise.. place your bet on good products.. BITCOIN, ethereum, EOS, monero, ontology, zilliqa, thunder, cosmos, grin, beam & likes... - I agree that many altcoins will be left behind in this bull run. 😔

Next 2 yrs looks exciting - Can't imagine just how much this space is going to grow by then. 🤔

Over extended - Exactly. Look what happened today (:

Expecting a pull back nothing too crazy and then I’ll buckle up for the moon landing or Uranus whatever works - Lmao you crack me up. Catch you somewhere in space! 👊

Guessing...but i think the big investors are holding the cryptos waiting for somethung big..maybe baktt stuff. - I believe that they were actively loading up their bags in the bear market. 

About time. - About damn time alright. 👍

It’s still overbought so I’m expecting a short period of sell off great time for buying. - Im going to hold off all buying till then too! 😁

My gut saying it will climb to steady for a while to come still. secretly hoping it cools a bit by payday, but overall i think we in for a long bull run with a few bumpy parts - Not only do I think that markets will cool slightly in the coming days, I think it's a great scenario because it's healthier from a price action perspective, and I'll be able to continue loading up my bags at cheaper prices! 🛍️

This is the push the space has been waiting for, so people are Exuberant - Markets reacted unexpectedly strongly though. $7,000 to $8,000 was somewhat expected, but I totally did not expect BTC to burst through the $5,800-$6,400 resistance zones so rapidly. 😲

The odds are highly against a continued run up in the coming days. The psychological impact of FOMO will be very strong on the collective herd to take some profit before the inevitable price correction/breather. - Spot on! Exactly as you described it today. 👏

because of FOMO! - The FOMO is strong with this one. 🤣

Change is slow,BTC spiked and decided,and now new people are interested in the crypto sector and realizing that it is not a scam investment,,, - Despite its high volatility, BTC is proving to be an asset that can hold some value. 👌

We are in a bull market. Continued strong fundamentals, imminent (and eventual) ETF progress and approvals, increased institutional investment, and upcoming Bitcoin halving. - The future definitely is looking bright! 🔆

A cooling would reasonable and healthy. - True. It's happening now! 👀

Over 100 billion 24h trading volume. We are in a new bull market. - Crazy how we've been hitting triple digit volume (in billions) as of late. It really shows that there is new blood in the game. 😁

Thank you all for reading! Catch you back here again next week for your daily dose of crypto news! 💙
See you again on Monday!
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What. A. Week. I'm pooped from the excitement. 🤣
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