“Perseverance is the hard work you do after you get tired of doing the hard work you already did."
- Newt Gingrich
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Ladies and gents, it's day 2 of the week. Welcome back to our U.S. CMC-ers! I hope you all got to thoroughly enjoy your memorial day weekend. Can't wait to share with y'all more interesting nuggets of information today. Let's get right to it! 😄
Today in history (2016), Harambe, a gorilla form Cincinnati Zoo, was shot after dragging a 3 year old boy who had slipped into its enclosure. 😔
In today's newsletter, we will be covering a new crypto exchange platform backed by Yahoo Japan is soon to launch, Ethereum founder Vitalik Buterin proposing changes to the core infrastructure of Ethereum 2.0and EY building a blockchain platform for to track wine.Also, in our 'Tutorial Tuesday' section, we have another well put together educational video by crypto educational content provider, Goodbit! Lastly, we have a special announcement pertaining to crypto exchange, Bitrue! 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! 📚
Up slightly 🔺
In the last 24 hours, total market capitalization rose slightly from ~$269.5 billion to ~$272.3 billion, with most coins seeing gains in the ~1-4% range. 24 hour volume clocked ~$92.7 billion again for the second consecutive day.
BTC is currently trading at ~$8,730, pretty much where it was left off yesterday after bouncing within a tight range of ~$8,700 and ~$8,970 all day. RSI level on the daily chart is currently at ~71 and within the 'oversold' region.
And another one ☝️
A new crypto exchange platform called Taotao, in which Yahoo Japan owns a 40% stake in, is about to go live on 30 May. It will also be launching a mobile app. and will offer trading support for both Bitcoin (BTC) and Ether (ETH) at launch. Margin trading will also be offered for XRP (XRP), Litecoin (LTC) and Bitcoin Cash (BCH) on top on BTC and ETH. 😊
Taotao is a virtual currency exchange regulated by the Financial Services Agency, which is further evidenced by the 'registration number 00001' message proudly displayed on its website. 📢
Taotao will offer trading support for both Bitcoin (BTC) and Ether (ETH) at launch. Margin trading will also be offered for XRP (XRP), Litecoin (LTC) and Bitcoin Cash (BCH) on top on BTC and ETH.
Hear me out 🙋♀️
Ethereum founder Vitalik Buterin has proposed changes to the core infrastructure of Ethereum 2.0 known as the Beacon Chain. ✋
Originally, the beacon chain was to act strictly as the “heartbeat” of Ethereum 2.0, tracking all the data in shards and compiling summaries of that data onto one central blockchain. Now, Buterin is proposing for the beacon chain to serve an additional function of storing specialized smart contracts called beacon chain contracts.
According to Buterin, this seeks to create a "relatively minimal consensus-layer framework" that still provides "sufficient capabilities to develop complex frameworks" that can "give us all of the smart contract capabilities that we need on top as a second layer". 😊
According to Raul Jordan, co-lead at non-profit Prysmatic Labs (a team focused on building software to support a highly-scalable and energy-efficient version of the Proof-of-Stake Ethereum blockchain), the proposed beacon chain design by Buterin “makes it a lot easier for application developers, people building on [Ethereum],” to leverage the new network without having to re-learn the parameters of an entirely new blockchain platform.
A win for wine 🍷
“Big Four” professional services firm EY has built, using its OpsChain solution, the "TATTOO Wine Platform" for Blockchain Wine Pte. Ltd - a blockchain platform that can help consumers determine wines’ quality, provenance and authenticity. 🧐
According to EY, each bottle of wine will be "tattooed" with a unique QR code which participants can scan to access information such as "vineyards’ names and locations, types of fertilizers used to grow the crops, and how each batch is transported for processing and delivery.”
Additionally, the platform allows consumers and distributors to buy and sell wine, schedule and track shipments, monitor warehousing and delivery, and arrange for and track insurance coverage of wine shipments. 😲
The platform, which is also backed by Asian wine cellar The House of Roosevelt, will focus on Asian markets where the consumption of European wines is growing. Over 5,000 labels will be added to the system, including wines from France, Italy, Spain, Australia, New Zealand, South Africa, South America and California. 👍
Crypto exchange Bitrue has finally launched their much-anticipated native platform token, Bitrue Coin (BTR)!
With its user-centric features and clean-interface, Bitrue seeks to make its financial services more accessible to a global audience. The BTR token plays a key role in executing Bitrue’s business model and in subsidizing future planned initiatives, and will be available for purchase on the Bitrue platform come May 30, 2019.
To celebrate the launch of BTR, Bitrue will be also be putting 400,000 BTR up for grabs for its customers in a giveaway! For more information, click here!
Other news 📰
The governor of the U.S. state of Montana, Steve Bullock, has recently signed House Bill 584 into law, recognizing utility tokens and exempting them from local securities rules. ✍️
Ethereum development studio ConsenSys has launched a blockchain “job kit”, providing a variety of resources such as information on the skills needed to find work as an Ethereum blockchain and as a decentralized application (dapp) developer, to guide aspiring developers in the space. 📖
Central bank of Malawi announced that crypto is not legal in the country and that the institution is against crypto-related activities. 😔
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)
19 Aug - U.S. SEC's initial decision on the VanEck, SolidX and the Cboe BZX Exchange Bitcoin ETF application
"How much do you agree with this statement: "I am interested in crypto margin trading.""
The average vote was a 4.3. Not much interest here! 😂
"Why or why not?"
No, no, no. Seems like whales still have too much influence. Don’t want to get whipsawed. - Margin trading can be a very dangerous game. A great deal of both bankroll management and emotional control is required. 😊
Right now, I can't afford to lose more money. I need to be conservative... - Whatever works for you! Don't have to over extend and stress yourself out. 👍
Great Opportunity - Risk seeker!
i am not very excited about margin trading.. this just does not work for me.. but i am sure there are lot of people who would be interested.. and this will bring about volumes.. a caution to participants stay safe & use borrowed loan to invest in good assets only, don't go for speculative shit coins.. - Yup! Be careful not to lose your shirt with margin trading.
I learned my lesson years ago in the commodity market, if you would have traded on a margin in January OF 2018 YOU WOULD HAVE TO HAVE A SECOND JOB. - Always better to have multiple streams of income so that you don't grow too dependent on one. 💰
I'm a buy & hold type of cryptocurrency investor. I do some margin trading on my Schwab stock market account though. - Perhaps when you've found a good strategy that produces consistent results you can test it out on the crypto markets and see if it your strategy applies there as well. 🤔
No interest in taking on greater risk! - Understandable.
To dangerous. - Dangerous, but potentially more rewarding. If you know what you're doing, why not? 😛
Trading with margin is very risky. Just trade with the money you can afford to loose. - Some people just have an appetite for risk. 🤑
To many unknowns right now in the c/market. - When have there been a time with few/none? 😂
Am not interested in speculation. - You must be a buy and hodl kind of person! ✊
More trouble than worth. - Hahaha definitely, for most people. 💸
Thank you all for reading! Catch you back here again tomorrow for your daily dose of crypto news! 💙
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