"The turning point in the process of growing up is when you discover the core of strength within you that survives all hurt."
- Max Lerner
Happy Thursday folks! Only a day away from the weekend. Hang tight! 💪
Today in history (2000), actor Samuel L. Jackson was honored with a star on the Hollywood Walk of Fame. Who else remembers, "I've had it with these ************* snakes, on this ************* plane!!!" 🤣
In today's newsletter, we will be covering the University of British Columbia launching a blockchain tech training program, the Coinbase Card now available to 6 European countries and blockchain startup Spring Labs raising $23 million in a Seed A funding round. Also today we have our 'Thursday think tank' section, courtesy of our friends over at Flipside Crypto! We also have a special announcement today below! So be sure to check that out.
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! 📚
Small win! 😊
Over the last 24 hours, total market capitalization rose slightly from ~$256 billion to ~$261 billion, with most coins seeing gains in the ~1-4% range. Notable movers of the day are Bitcoin SV (BSV) and Aurora (AOA), up ~13.22% and ~52.2% respectively. 📈
BTC is currently trading at ~$8,110, up ~1.4% over yesterday. It is back trading above its 21-day EMA line, finally pushing through it after a 6-day battle. BTC also 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 ~53.
In the bigger picture, 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. 😂
School for blockchain 🎓
A top Canadian research university, the University of British Columbia (UBC), is launching a blockchain tech training program for graduate students starting January 2020. It will focus on 4 areas: health and wellness, clean energy, regulatory technology and issues for Indigenous residents, and is the first of its kind in Canada. 🤓
According to the UBC iSchool associate professor and founder of Blockchain@UBC, Victoria Lemieux, the program will "allow students to develop the skills around emerging technologies that are in high demand as well as drive economic growth as graduates fill the void in the industry”. 👍
UBC seeks to onboard 139 students (with no prior blockchain experience necessary) over 6 years, and build out services for existing master’s and PhD students in educationally adjacent areas.
This initiative is also supported by 15 industry partners such as pharmaceutical company Boehringer Ingelheim and not-for-profit Mitacs. 😲
Widened channels 🙌
Crypto exchange Coinbase has expanded its Visa "Coinbase Card" debit card service ", a service that enables customers to spend their digital assets, to 6 European countries. 🎉
According to a recent report by CNBC, the card is now available for users in Spain, Germany, France, Italy, Ireland, and the Netherlands. With it, customers can spend their crypto assets such as Bitcoin (BTC), Ethereum (ETH) and Litecoin (LTC) in Visa-accepting online and physical stores. 👍
It is worth mentioning that customers are not directly paying merchants with crypto assets. Rather, Coinbase charges a conversion fee to convert users’ cryptocurrencies into a fiat currency, to pay merchants.
Fraud protection 👮
U.S. blockchain startup Spring Labs has raised $23 million in a Seed A funding round, and will use the funds to improve its blockchain-based platform Spring Protocol and develop 3 new fraud protection products for the auto financing sector. This round saw the likes of General Motors (GM) and Galaxy Digital investing.
The new products, Spring Verify, Spring Defense, and Spring Protect, are designed for identity verification, fraud monitoring/mitigation, and loan stacking prevention respectively. 🛡️
The products will reportedly provide information to lenders anonymously, for the purpose of financing activities such as unsecured consumer lending, small business lending, credit card issuance, and secured auto lending.
Thursday think tank 🧠
Our friends over at Flipside Crypto have produced data revealing the most under- and overvalued coins for the week! 🧐
The scores you see below refer to the ratio of each coin's current FCAS rating to its current market capitalization, both standardized to a 1000-point scale. A score above 1 reflects an undervalued coin, and a score below 1 indicates an overvalued asset!
Hold your horses! Before you go ahead and jump right into investing, always remember to first D.Y.O.R (Do your own research)!
Special announcement 📢
Our very own Global Head of Marketing here at CoinMarketCap, Carylyne Chan, shared her views on institutional crypto trading with TRGLondon and leaders from TradeVela, Gemini, Nasdaq, SeedCX, AlphaPointLive, CoinRoutes and Incas_ec. Read about it here!
A method of trial-and-error, in which automated software generates and tries a large number of possible combinations in order to crack a code or key.
Other news 📰
Tezos Foundation, the a non-profit educational wing of the smart contract and Dapp platform Tezos (XTZ) has made the co-creator of PricewaterhouseCoopers Switzerland’s blockchain initiative, Roman Schnider, their new Chief Financial Officer. 🤝
Payments company Square has hired former Google director Steve Lee as the first member of its new crypto team. 🤝
Crypto data and indices provider CryptoCompare has launched a benchmark ranking of over 100 active spot exchanges to help users spot good and bad crypto exchanges. 👌🏻
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: "CoinMarketCap is my favorite crypto price provider.""
The average vote was a 9. 54% of y'all voted a '10'. You guys are awesome.
"Why or why not?"
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Yes, there was some manipulation of trade volumes (wash trading?) and error misrepresentation in Coimbatore cap. However, even then it gives prices of cryptos and is the most popular site where we check pricces. However, of late I check crypt prices from my portfolio tracking site coincodex. I also use cryptocompare and my crypto exchange binance for checking crypt prices. I have have other options. Still for browsing coins after rank 100 in coinmarket cap , is just useful reference stuff. - You should check out our new app! You'll be able to get accurate prices there too. And you can add your portfolio as well.
I am new at cryptos - Welcome! Glad to have you on this journey with the rest of us. 😊
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It is my go to when comparing prices on different exchanges before buying and selling so I would have to agree. - Same here!
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Thank you all for reading! Catch you back here again tomorrow for your daily dose of crypto news! 💙
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