Daily Email Archive

Step out of it

Your daily newsletter for June 12, 2019
Comfort zones
"Step out of your comfort zone. Comfort zones, where your unrealized dreams are buried, are the enemies of achievement. Leadership begins when you step outside your comfort zone.” 
― Roy T. Bennett
Already midweek! Is it just me or this week moving faster than usual? 🤔 Gosh, time sure flies when you're on that grind. 

Today in history (2018), North Korean leader Kim Jong-un and US President Donald Trump met at the Singapore Summit at the Capella Hotel in Singapore. This was a momentous occasion as it was the first-ever meeting between leaders of North Korea and the United States. 🤝

In today's newsletter, we will be covering Visa’s blockchain-powered B2B payments service now live, Telegram’s GRAM token soon to be offered for sale to the public and Nasdaq-owned financial data platform "Quandl" to be adding crypto reference prices. 

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! 📚

Proceed with caution 👷
Over the last 24 hours, total market capitalization bounced within a range of ~$248.6 billion and ~$256 billion, with most coins either seeing gains or losses in the ~1-3% range. Notable mover of the day is Litecoin (LTC), up ~8.8%. 📈

BTC is currently trading at ~$7,970, no change from yesterday. It is still challenging its 21-day EMA line, a battle that's been ongoing for the past 6 days. BTC still continues to be trading above its 50, 100 and 200-day EMA lines, generally indicative that we are in a bullish cycle. RSI level on the daily chart is currently at ~51. 

It seems that BTC faced some overhead resistance in the $8000-$9000 range, and did not have sufficient momentum to push through, evidenced by the significant drop in RSI reading over the past month (~88 to ~50). Every bull cycle will eventually transition into a bearish one. We could soon be transitioning into small bearish one before we continue on our current upward trajectory, due to this slowed momentum. But then again this is the crypto, so expect the unexpected. 😂

Visa's on the move 👀
According to Reuters, Visa’s blockchain-powered business-to-business (B2B) payments service dubbed the Visa B2B Connect network is now live. 🙌 It was first rolled out in a pilot phase to test bank-to-bank connections in November 2017.

The network, built atop the Hyperledger Fabric with assistance from IBM, is a product designed to help Visa’s corporate clients sidestep the slow correspondent banking network and open up near instant international payments using a system partlypowered by distributed ledger technology (DLT). It currently serves businesses seeking to make payments to 30 markets, and is expected to be able to serve 90 more corridors by the end of 2019. 😲

According to the global head of Visa Business Solutions, Kevin Phalen, the creation of this solution that facilitates direct bank to bank transactions helps to eliminate "friction associated with key industry pain points”. 👍

Opening its doors 🚪
Messaging app Telegram’s GRAM token, previously sold to accredited investors in one of the biggest-ever ICOs, will soon be offered to the public. 👐

A limited sale of the GRAM token will first take place on the Liquid exchange starting 10 July. A full public sale will reportedly be held in October. Token sale details such as the token cost and targeted total for the raise have not yet been disclosed. It will mostly be open to investors globally, excluding some nations like the U.S. and Japan due to lack of securities jurisdiction clarity. 🤔

GRAM tokens were previous sold only to accredited investors in Telegram’s 2-phase ICO, to the tune of ~$1.7 billion, in February and March of 2018. The raised funds were to be used to develop the Telegram Open Network (TON), a blockchain seeking to decentralize multiple facets of digital communication, ranging from file sharing, browsing to transactions. 😲

Personally, I feel that even though Telegram is a big name, I would first like to know the sale terms of these accredited investors before I put any money in this, as I would like to know how much of a competitive advantage these accredited investors have on me. 

An institutional aid 🤗
A Nasdaq-owned financial data platform for institutional investors known as "Quandl" will be adding cryptocurrency reference prices from cryptocurrency price and indices provider CryptoCompare. 👍

Nasdaq and CryptoCompare have engaged in a strategic partnership for the new service, dubbed the "Nasdaq/CryptoCompare Aggregate Crypto Reference Prices", which will reportedly provide up-to-date pricing data for the “most liquid” cryptocurrency markets. The new data product will enable institutional investors to monitor crypto assets and gauge investment opportunities, and "boost institutional capabilities in the cryptocurrency markets across trading strategy, quantitative research, risk modelling, NAV calculations and back-testing". 👌🏻

According to CryptoCompare’s co-founder and CEO, Charles Hayter,
"Reliable data is the bedrock of transparent, liquid markets and by bringing our [their] high quality, granular dataset to a global institutional client base, via the Quandl platform, we [they] will give traders and investors a competitive edge.”

Blockchain term of the day 🤓 Merkle tree
A tree structure in cryptography, in which every leaf node is labelled with the hash of a data block and every non-leaf node is labelled with the cryptographic hash of the labels of its child nodes. Hash trees allow efficient and secure verification of the contents of blockchains, as each change propagates upwards so verification can be done by simply looking at the top hash.

Other news 📰
  • A platform for securing digital assets in transit, Fireblocks, has secured $16 million in funding from a Series A round that saw the likes of Eight Roads (proprietary investment arm of Fidelity International), Cyberstarts and Tenaya Capital investing. 💰
  • According to a recent report by AI-powered blockchain ecosystem security company AnChain.AI, an equivalent of $6 million in transaction volume on the EOS blockchain in Q1 of 2019 was driven by rampant, malicious bot activity on dApps. 😲
  • Data privacy startup Enigma (ENG) is officially launching its 2nd test network for Ethereum developers that will allow them to build specialized smart contracts called “secret contracts”. 👌🏻
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
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: "CoinMarketCap is my favorite crypto price provider." 💭
Why or why not? Share with me in the polls! 😆
What you said
"How much do you agree with this statement: "Ethereum (ETH) will still be the most used smart-contract platform by the end of 2020.""

The average vote was a 7.7. 

"Why or why not?"

It has first movers advantage and the vast majority of altcoins have already been released as ERC-20 tokens on the Ethereum blockchain. - That is true. Personally, I am a fan of Ethereum so I hope it stays that way. I like Vitalik and think that he has great foresight. 👀

I’ve got nothing to stand on, but, throwing in (end of 2020) kinda makes me think hmmm. But my answer is yes - Me too! I think it's gonna be hard for other projects to overcome that first mover advantage. 🤔

I think ETH is most trustworthy. Before going further, it's ETH that introduced smart contacts, dapps capabilities to blockchain. It is the platform that was birthplace to crypts like tron and eos who were supposed to be eth killers. However, eth has survived. It's possible that the scalability issue would be sorted with all the ongoing structural innovations eth developers are working on. Plus already a lot of companies use ETH platform so like its there to stay. The intent to be decentralised is awesome with Old currencies like ETH and BTC. They will always be leading for sure, I am fan of these platforms as a blockchain enthusiast. - I agree as well. I think it's also awesome that Vitalik recognizes the need for more privacy and is working towards providing users with the options to make transactions private or non-private. This will make the ETH platform very versatile. Hopefully, it will be able to solve scaling issues in due time. Like you, I believe they will do so eventually. ETH has a great team, community and leader behind it. 😀

Because ETH has a wide users basis, has showed less unstable value variation as others smartcontract Cryptos. - Price volatility is still an issue, but I think as with most other coins that will resolve on its own in due time due to the increased liquidity from more people entering the space, and overall better price discovery. 👍

ethereum will be a platform of choice of smart contract & we will be seeing wide use of blockchain in coming months. but for high throughput requirement i think zilliqa will be more popular. i have been following zilliqa this project looks the most promising on the gen 2 blockchains today. - ZIL is great too, but it needs to overcome that first mover advantage that ETH possesses. That will be tough. 😉

I think that a lot of work has already been put into the Etherium token economy by large institutions. Have you seen who is involved in the etherium enterprise alliance. As long as they can sort out the proof of work / proof of stake switch over I think Etherium will be the number one smart contract platform. - The EEA is hella impressive. I remember when I first took a look at the list in early-mid 2017 and was mindblown. Seeing that already stacked list continue to grow each month/ year blows my mind too. Oww my head hurts. 🤯

Only if they figure out scaling - I'm sure they'll figure it out. They have many devs working on it. 🤓

Odds 65-70% yes - It's a 99% for me. 😜

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