A very big welcome back! I hope you've all had ample rest and are geared up to take this week head on! I know I am! 😄
Today in history (1996), Intel released the 200 mhz pentium chip. ⚡
In today's newsletter, we will be covering the Facebook coin to allegedly be pegged to multiple currencies, G20 calling for increased crypto surveillance and a blockchain-based tourism platform from Yugra.
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! 📚
Over the weekend, total market capitalization pretty much stagnated at ~$253.5 billion, with daily volume levels dropping to ~$60 billion.
BTC is currently trading at ~$7,950, and is still trading above its 50, 100 and 200-day EMA lines (typically indicative that the asset is in a bull market). RSI level on the daily chart is currently at ~53, finally back at normal levels after ~2 months.
Multi-currency stablecoin? 💱
Facebook’s head of financial services and payment partnerships for Northern Europe, Laura McCracken, recently spoke to German business magazine WirtschaftsWoche and confirmed that the planned stablecoin will be linked to a basket of currencies in order to prevent volatility. 💱
McCracken also revealed that a white paper for the token, allegedly dubbed "Global Coin", would be published on 18 June. 📜
Last week, it was reported that executives working on the effort include MIT’s Christian Catalini and Sunita Parasuraman. Further more, Russian news site RBC reported that according to head of oil firm Rosneft Igor Sechin, the coin could be used in oil transactions “in the near future” as other big U.S. tech firms like Google, Apple and Facebook are already making moves into the energy industry.
Still not noticing me? 😉
In a published joint communiqué following the recent G20 meeting, G20 finance ministers and central bank governors asked the Financial Stability Board (FSB) and global standard-setting organizations to monitor risks around crypto assets. 🗣️
They urged relevant institutions to give greater consideration to crypto assets and "consider work on additional multilateral responses as needed”. The joint statement pointed out that "while crypto assets do not pose a threat to global financial stability at this point, that we [they] remain vigilant to risks, including those related to consumer and investor protection, anti-money laundering (AML) and countering the financing of terrorism (CFT)". 🧐
The statement also pointed out that the involved parties are looking forward to the Financial Action Task Force’s (FATF) Interpretive Note and guidance on crypto assets “at its [FATF’s] plenary later this month.”
Tourism blockchain ✈️
According to media outlet Tass, Yugra, a federal subject of Russia, will be launching a blockchain-enabled tourism platform. 🤖
The general director of the region’s development fund, Roman Genkel, has signed an agreement with the CEO of blockchain startup Universa, Alexander Borodich, to launch the platform. ✍️
The firm will reportedly develop the platform to support multiple languages, with the overall goal of connecting all participants in the tourism ecosystem such as suppliers of tourist products and services, transportation, accommodation and catering providers, investors and tourists themselves.
A practice of taking advantage of differences in price of the same commodity in two or more markets or exchanges. For example, ETH is trading for $250 in exchange 1, and ETH is trading for $270 in exchange 2. To perform arbitrage, you would need to buy ETH from exchange 1 and sell it on exchange 2 for a $20 profit!
Other news 📰
In May, Bitcoin (BTC) trading volume on crypto exchange Coinbase hit the highest amount seen in 14 months. 📈
Stolen bitcoins from a 2016 Bitfinex hack, have been spotted moving on the blockchain after 3 years of dormancy. 🤔
Crypto exchange Bittrex announced that it will block U.S.-based users from trading in 32 cryptocurrencies. 🙅
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 a fan of crypto margin trading.""
The average vote was a 4.1.
"Why or why not?"
still new on this one....but learning about it though - Always good to learn more! 🤓
no i am not.. this is very risky business.. - Indeed. Some people are able to handle it and have the risk appetite for it. Only a handful though... 🤔
Why not; for me because the extreme degree of volatility increases the risk of a total loss to a point that I'm just not willing to take. - Understandable. It's not easy to stomach such large risks. 🤢
No way... I won't borrow money to trade in cryptos. I would trade some portion of money I allocated for crypts from my income that I can afford to lose. - That's the responsible way. Good on you! 👍
Margin trading is To risky for people. - For most. Some are able to do well with it. but that is often times a very very select few.
Markets to young and volitile - Ahh, it'll get better. 😊
margin trading needs to be understood by the trader and risk management is paramount to such a trading approach, unfortunately many don't understand this fundamental principle or think they can beat the market.. which in majority of cases leads to a big hole in the pocket where their wallet use to reside - Very very true. Countless friends have got their hands burnt. 💸
I'm a fan of margin trading being available but generally prefer not to do it myself. - Interesting...I guess you're the type who likes to watch on the sidelines? 👀
Hodel is my plan - HODL4lyfe
Un-covered losses can lead to ruination for minnows and newbs. Nothing more than straight gambling with severe consequences if the trade goes wrong. - Yeah it does more harm than good for most. 🔪
I made a first investment in crypto currency. - Congratulations! That is a huge first step. Welcome to da club! 👐
Its attracts the wrong kind of people to our beautiful bubble - There's room for everyone (:
NO NO NO NO! too risky. - If used wisely, risk if your friend.
"What are your plans for the weekend?"
forest escapades, barbecues, and bonding with my daughter - That's lovely. Sounds like the perfect weekend! 😊
am spending time to complete some pending work.. do plan to drive to farmers market to stock our kitchen.. - Haha I love grocery runs.
Help me daughter move and it's going to be a scorcher! - Yeah tell me about it. This summer has been brutal. 🔪
Traveling abroad for vacation. Hopefully, they have wifi onboard, as I need to keep an eye on the crypto market at all time 🙂 - Lol the job never ends. You must be a day trader! 👍
Won't work.. Other than that would do my routine at home, nothing planned for weekend but she quality outdoor recreation time in the park, with some sleep and relaxation would be certain. May read a bit on crypts, I have some self improvement online sessions to catch up on and some essentials to buy from the store. - Sounds like you have it all planned out. Hope you had a good weekend!
Recover from surgury - Wishing ya a speedy recovery! 💪
hmm like to win the lottery, like to see crypto market explode exponentially, won't be watching England fighting out a 3rd place Nations cup match of no worth at all - I pretty certain one of these events will take place eventually. Can you guess which? (:
Work on the house, complete some training I signed up for, monitor the markets and makes moves if necessary. - Very productive! I hope everything went smoothly. 👍
Celebrate my birthday - Happy belated!!
following the currency evolution - It's a revolution! ✊
Not yet planed cos am broke - For now. I'll be seeing you on the moon.
Its all about Frank Smits, the famous singer from the Someren is making his entrance on a concert on the beach. He will sing classics like goud gele rakkers en melkkamers. - Oh wow! Bring your significant other!
It freezing ,so will probably stay in bed having to fight my cats for a fair share of the blanket. and wish robot butlers were available to make me snacks and hot chocolate. - Wish it was winter where I'm at. Robot butlers! That wouldn't be something bad to have at your disposal. 🤖
Thank you all for reading! Catch you back here again tomorrow for your daily dose of crypto news! 💙
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