“I love playing under pressure. In fact, if there's no pressure, then I'm not in the perfect zone.'
Happy Wednesday people! Don't let the midweek woes get to ya. Flip the switch and tell yourself to get going! ✊
Today in history (2017), professional golfer Tiger Woods was arrested and charged with driving under the influence in Jupiter, Florida. 😔
In today's newsletter, we will be covering South Korea's Shinhan bank turning to blockchain to aid in its sanctioning of loans processes, messaging app Kik initiating a crypto crowdfunding campaign to aid a court battle against the U.S. SECand crypto exchange Coinfloor and electronic money institution Enumis teaming up to provide crypto firms with banking support.
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! 📚
In the last 24 hours, total market capitalization bounced within a tight range of ~$265.5 billion to ~$274.4 billion, and is currently at ~$272.3 billion (pretty much where it was at yesterday). Most coins are either seeing gains or losses in the ~1-3% range. Notable movers include Bitcoin SV (BSV) and IOTA (MIOTA), both up ~22.5% and ~17.6% respectively.
BTC is currently trading at ~$8,660, down ~0.6% over yesterday. BTC continues to remain trading above its 50,100 and 200-EMA lines, a sign of bearish momentum. RSI level on the daily chart currently reads ~72, indicative that BTC is overbought at the moment.
Founded in 1897, South Korea’s Shinhan bank has turned to blockchain technology to aid the sanctioning of loans.
The initial process to authenticate proof for credit lending required a manual verification to legitimize customers’ qualifications or certification documents. However, the new blockchain-based verification system expedites the verification process and is cost-friendly. 👍
Shinhan has utilized the new technology on its “Shinhan Doctors” loan product and has seen the verification process reduce from several days to current “real time.” The blockchain system is envisioned to stimulate the number of online loan products processed and expand the system to more loan products and customers. 👐
This one's for us ✊
Kik, a Canadian-based messaging app firm, has initiated a crypto crowdfunding campaign to aid a court battle against the U.S. Securities and Exchange Commission (SEC) in hopes that the "lawsuit would eventually result in a new Howey test for crypto tokens, to determine which ones are a security." 🙏
The website labelled “Defend Crypto” enables supporters to donate cryptocurrencies Augur (REP), Dai (DAI), and Kik’s token to support firms that face resistance from the SEC.
Kik has already spent over $5 million on the battle and is committed to donating another $5 million to fulfill their vision, in hopes of becoming an example for how cryptocurrencies are to be appropriately regulated in the U.S.. 🙋♀️
Makin it easier 😄
U.K. crypto exchange Coinfloor and electronic money institution (EMI) Enumis have teamed up to provide crypto firms with banking support. Attaining bank accounts is something that plagues businesses dealing with cryptocurrency. The partnership will see Enumis offering Coinfloor referral fees for referring credible cryptocurrency businesses that open current accounts (U.K. equivalent of checking accounts) with their institution. 🤝
Referral fees aside, Coinfloor also expects the access to fiat accounts to attract startups to deal with their exchange. This partnership blossomed after the U.K. exchange had set up its own current account with Enumis at the beginning of 2019, after which the two bodies recognized that they could accomplish more together.
Specifically, Enumis provides firms current accounts with both online baking and API capabilities, along with a debit card that offers a 0.2% rebate on transactions at Coinfloor. 👍
An incentive for a miner who successfully calculates a valid hash in a block during mining. By contributing to the security and liveness of the chain, the miner is rewarded with this incentive, ensuring that miners continue to act in the best interest of the blockchain by legitimately taking part in the process (instead of hacking it).
Other news 📰
JPMorgan Chase’s blockchain team has developed a privacy feature for Ethereum-based blockchains that not only obscures how much money is being sent but who is sending it too. 😲
At a recent conference, Vitas Vasiliauskas, member of the Governing Council of the European Central Bank (ECB), expressed his support for wholesale central bank digital currencies (CBDCs), which he believes could be utilized to enhance payments and securities settlement efficiency and curb counterpart credit and liquidity risks. 🗣️
The co-founder of crypto derivatives exchange BitMEX, Ben Delo, has committed to joining “The Giving Pledge,” a charitable cause for the super-rich founded by Bill and Melinda Gates and Warren Buffet. ✋
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 follow the technological developments of my favorite coin very closely.""
The average vote was a 6.3.
"Why or why not?"
I think it is compulsary to follow any information about any of my Crypto position or inytention to aquire. - True. It really helps to know if a project you like and have invested in is keeping to their promises and hitting deadlines etc. 👍
No. I follow to see if they are making progress on projects. I don’t feel a need to keep up with tech. (Hey, can someone fix my VCR?) - Aren't tech developments considered progress too? 🤔
Keeping up on current events is the best way to mitigate profit and loss. - Well said. You have to constantly see if they are maintaining their competitive edge. 😊
Knowledge is power - True that.
Too complicated for this old man to follow & understand ... I'm 74 years old so very hard for me . It seems to come easy for the youngsters ! - Oh wow huge respect! To be 74 and still open to learning new things is really impressive. Many people, even those half your age, should start emulating you. And no, believe me crypto is not easily digestible material so you're not alone on that front! 👍
The better the tech., the more it is worth. - True to a certain extent. Others have to believe in it as well.
not a tec. person - We all started somewhere! 😛
too busy - Busy bee. 🐝
Too many coins. Wait for friends to check it out and tell me about it. - Hahah, passed through the grapevine. 👂
Aware of present development. - That's great to hear!
totally agree.. i do follow good coins very closely.. also keep very tight watch on the ones i am invested in.. some good projects i am watching - Bitcoin, ethereum, EOS, Cardano, Cosmos, Ontology, Zilliqa, Beam, GRIN, Thunder, Monero, Tezos & few of others.. - Woah that is quite a number! Keeping up must take up a significant portion of your time. But good job though!
I like to know everything, even the smallest details. Maybe I hyper focus too much but, but in crypto you can never have too much knowledge. - I personally do not think there is such a thing as too much. Knowledge of the finer details are usually what gets you ahead. I think that with regard to crypto, the devil is in the details. 🧐
I can follow the price movements, but am not always up on the Tech changes. - Both are important!
Because I am new and plus I am swamped with other obligations to fit learning to master as fast as I would like to.. - Take your time, but commit to it. I'm sure you will be brought to speed in no time. It just takes consistency and discipline. 👍
When I first stated out in mid 2017 I had a mixed bag of coins. Etherium, Bitcoin, Litecoin, Neo, & Digibyte. Then in early 2018 I fully got on board with XRP. I have exchanged all of my coins into XRP and probably spend 2-4 hours everyday reading up on all of the new partners, innovations and future plans. This coin has took over my life. I do still keep my eye on other coins I like to watch bitcoin ben, Crypto Zombie, Cheeko Crypto & Max Keiser. I have just spent my lunch break reading your newsletter & also the news about XRP being live from Nov 2021 throughout all of Europe. I wish I could hibernate for a couple of years. - Oh wow that is a great story. I wonder what prompted you to change it all to XRP? 🤔
Thank you all for reading! Catch you back here again tomorrow for your daily dose of crypto news! 💙
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