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Your daily newsletter for June 14, 2019
Friends
"Walking with a friend in the dark is better than walking alone in the light."
- Helen Keller
Yay for Friyay! It's the weekend, nuff said. Go wild. 🤪

Today in history (1944), Anne Frank, the German-born Dutch-Jewish diarist and victim of the Holocaust, wrote her first full diary entry. ✍️😔

In today's newsletter, we will be covering Bakkt to soon test its 2 physically-settled BTC futures contracts, financial terminals of Thomson Reuters and Bloomberg to soon provide crypto data from Cryptoindex and Binance to launch a U.S. division and new U.S. trading platform. Today, we will also be covering Chainlink (LINK) in our weekly deep dive! Also today in our 'Blockchain term of the day' section, we have another well put together infographic done by cryptocurrency index building and trading automation software, Panda Analytics! 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! 📚

Hold me up 🤗 
Over the last 24 hours, total market capitalization rose slightly from ~$261 billion to ~$264.2 billion, with most coins either seeing gains or losses in the ~1-3% range. Notable mover of the day is Chainlink (LINK), currently up ~34.5% for the day. 

BTC is currently trading at ~$8,310, up ~2.3% for the day. RSI level on the daily chart currently reads ~57.5. Both longs and shorts levels have been gradually rising in tandem over the last few days. BTC also continues to be trading above its 21,50, 100 and 200-day EMA lines - until we start to see a breakdown from these lines of support, BTC will continue on its current bullish cycle. 👍

Test test test 🧪
The Intercontinental Exchange (ICE)’s pending institutional crypto platform Bakkt plans to begin testing its 2 physically-settled BTC futures contracts on 22 July. 👌🏻

According to a recent blog post, Bakkt's chief operating officer Adam White wrote that the platform will “initiate user acceptance testing” for its BTC futures contracts, to be listed and traded by its parent company, ICE. 

ICE has also provided new details for Bakkt’s monthly contract and updated contract specifications for its daily contract. Both contracts will see a minimum price fluctuation of $2.50 per BTC (with each contract containing one BTC). Trades may be executed at $0.01 per BTC, with a maximum 12-month long listing cycle (for the monthly contract) or 70 consecutive eligible contract dates (for the daily contract). Final settlement for both contracts will be done at the Bakkt Warehouse. 🤔

Bakkt still has not yet announced a final launch date.

More data 📊
The financial terminals of Thomson Reuters and Bloomberg will soon provide crypto data from an index that takes into account social media posts and news. 👍

According to a recent announcement, index provider Cryptoindex said terminal users will be able to view the top 100 performing cryptocurrencies, according to its rankings. Cryptoindex comprises of crypto assets that have occupied a position in the top 200 for over 3 consecutive months, are “almost always traded on multiple exchanges” and have a “significant social media following.” 🧐

The Cryptoindex will be rebalanced on a monthly basis and is designed to spot trading data that has been inflated. Data analysis site TradingView will also be adding the index.

Big moves 💪
According to a recent announcement, crypto exchange Binance is launching a U.S. division and will be launching a new trading platform specifically targeting U.S. customers. 😲

The initiative stems from a partnership with a firm called BAM Trading Services, a San Francisco-based company that's registered as a money services business with the U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN). BAM will be operating the platform, while using Binance’s wallet and matching engine technologies. 🤝

According to Binance CEO, Changpeng Zhao, they are "excited to finally launch Binance US and bring the security, speed, and liquidity of Binance.com to North America”. 👍

Blockchain term of the day 🤓 Blockchain governance
Crypto deep dive: Chainlink
  • Cryptocurrency: LINK
  • Market Capitalization Rank: 24th (~$454 million)
  • Consensus: Proof-of-Work (PoW)
  • Notable Supporters: Brian Lio (Smith + Crown CEO), Jake Brukhman (former Triton Research CTO), Evan Cheng (one creator of LLVM), and Ari Juels (Co-director of IC3)
The gist of it ⚙️
  • Chainlink is a blockchain-based middleware that provides a decentralized oracle service and acts as a bridge between cryptocurrency smart contracts and off-chain resources like data feeds, web APIs, and traditional bank account payments.
  • Since blockchains cannot access data outside their network, oracles are needed to function as data feeds in smart contracts. Oracles provide external data (e.g. temperature, weather) that trigger smart contract executions upon the fulfillment of pre-defined conditions. 
  • Participants on the Chainlink network are incentivized (through rewards) to provide smart contracts with access to external data feeds. 
Why people love it 😘
  • Chainlink has a partnership with SWIFT, the largest global provider for secure financial messaging (transactions). This partnership could grant them network access to a plethora of large banks and high profile institutions around the world.
  • Chainlink is tackling a huge stumbling block in blockchain known as interoperability. If successful, there is significant upside due to the its large addressable market. 
  • Google recently announced a partnership with Chainlink, that enables  Ethereum app builders using Google software to integrate data from sources outside the blockchain through Chainlink's tech. 
Why people doubt it 🤔
  • A huge selling point of Chainlink is its partnership with SWIFT. This could lead to an over reliance on it which, could have very adverse effects on its network/ existing partners should the partnership dissolve in the future.
  • Chainlink's success is largely dependent on attracting institutions to utilize its technology, which means strong networking initiatives are required. 
  • Some argue that Chainlink does not have sufficient marketing initiatives.

Other news 📰
  • Facebook has allegedly received backing from over a dozen firms that include Visa, Mastercard, PayPal and Uber for its soon-to-be-unveiled cryptocurrency project. It is rumored that they each invested ~$10 million in the consortium. 💰
  • ConsenSys' Chief Marketing Officer, Amanda Gutterman, is stepping down from her role as CMO and is departing the Ethereum venture studio. 👋
  • Ampleforth has raised ~$4.9 million in 11 seconds in its AMPL IEO that took place on crypto exchange Bitfinex’s Tokinex platform. 🤑
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: "The Facebook coin will be a threat to the crypto sphere". 💭 
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Why or why not? What are your plans for the weekend? Share with me in the polls! 😆
What you said
"On a scale of 1-10 (10 being most keen), how keen are you on pursuing an undergraduate degree/ masters in blockchain tech right now? Assume that money is not an issue."

The average vote was a 6.2. 

"Why or why not?"

I am 85 - 85 years YOUNG. 👶

too old - Never too old to learn new stuff. Never. 🤓

I am to old period. - The quest of learning never ends. Age should not stop ya. 💪

Not sure how to answer. I’m 65. First semester in college I took Quantitative Methods. Each line of code on one punchcard. Then the stack of cards was taken to a printing office in the same building where it took a day or two to get results. Wish I had gone further down the road of computers. Now? I’d be willing to dip my toes in blockchain, but I’m not sure my background has prepared me for that dip. - To be honest, many of us started from ground zero. No background is required, truly. All you need is an insatiable hunger for knowledge. 😋

Awesome information - Why thank you! 😬

Fascinated by the industry but at 73, rather late to be taking on a new field. - Hmm perhaps you could do it for fun? 🤔

i do think so, its going to be the hottest thing in coming time & demand for blockchain engineers will sky rocket in coming times.. having said so it is not necessary to have a formal degree in blockchain.. one can study blockchain passively & also keep oneself updated to blockchain space to reap the benefit. - That is true! I'm a firm believer in self-directed learning. Unfortunately more often than not, if you want a job, many companies require a formal education certificate/ degree. 🙄

Coz I'm drawn like a connection - Lmao. 😂

Internet 3.0 right? Education is key - No doubt. 🔑

For some strange reason, at a young 76, it doesn't appear on my priority nor bucket lists! - If you must already lead an exciting enough life. 😎

I like the idea of everyone being on equal footing when it comes to bettering their life. Blockchain helps in that respect by cutting out the middleman, lightening the fees and costs of using a bank or financial institution, and keeping track of every transaction through a network of thousands, thus cutting fraud and thievery. Blockchain is the wave of the future, and will change the future for the better, for millions! - Well said! It's a burgeoning industry for sure. 📈

I’m to old, I’m retired. - Well deserved, I'm sure! 🙌

I'll be a little south of mid 60's when this is out, if I was 20 years younger I'd seriously think about it - Never too old, my dear friend. 

Warren Buffet once said the best investment is an investment in yourself. I believe that blockchain is the future and therefor yes I would pursui a degree in blockchain technology. - Good point. It would be best to start now considering how still very new this space is. 😊

Would be very interested, as I would also look to try and help tie in industries that need the stability and transparency (eg. cannabis industry, clean energy, recycling etc.). The demand for capable and knowledgeable people would only increase as we progress, as with all things. - That's true. Blockchain can do wonders for these industries. 😀

I simply find it very interesting and I do believe it is the future - Glad to have you onboard this train with all of us. 🙌

I got a couple of degrees and can't be bothered getting a third one. - Smartie. 🤓

Hellllzzz yeah, so I can work as a freelancer for all those companies who want something something with blockchain, but don't really know what blockchain is. And let them pay me in crypto for consulting them that it doesn't make any sense to use blockchain for keeping track of how much coffee their employees drink. - Will no doubt open some doors for ya. Pretty sure you'll be able to land some gigs with a blockchain degree. The field requires you to learn about many disciplines like statistics, computer science, economics etc. 🤯

I know they say that your never too old to learn but at 47 and hoping ill be retired by 50 on my crypto bags there's no way i'd put myself through a degree even if it was free. - True. Perhaps once we land on the moon 😉 you could do it for fun/ out of passion. 

I'm in no matter what. Been looking at what available for a while now. - That's awesome! Do share what courses you're currently looking at! 😀

Thank you all for reading! Catch you back here again next week for your daily dose of crypto news! 💙
See you again on Monday!
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Bye for the weekend pals~ 🤝😔
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