"Jack Nicholson didn't get anything until he was in his thirties. You have to persevere and put yourself in positions, and sooner or later, you will break through."
- John McEnroe
Thursday. Day 4 of the week. I'm sure you're all at it, striving hard to achieve your goals. Here's a reminder if you're a hard time, to tie a knot and hang on - It'll all be worth it! 😊
Today in history (2017), British actor Daniel Day-Lewis announces his retirement from acting. He was the only male actor in history to have 3 wins in the "Best Actor" category in the Academy Awards (Oscars). A pity, he is my favorite actor. 😔
In today's newsletter, we will be covering the Banking Committee of the U.S. Senate to soon hear a testimony on Facebook’s Libra cryptocurrency project, LINE close to winning a crypto exchange license from the Japanese FSA and Malaysia launching a work visa program targeting blockchain talent. 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! 📚
New territory 👀
Over the last 24 hours, total market capitalization bounced within a tight range of ~$284 billion and ~$290 billion, with most coins seeing either gains or losses in the ~1-3% range. Total market capitalization currently stands at ~$286.7 billion. 24h volume registered ~$52 billion again, relatively low compared to daily volumes seen over the past 3 months. 😔
BTC is currently trading at ~$9,250, up slightly by ~1.1%over yesterday. RSI level on the daily chart currently stands at ~64 for the second consecutive day. We can also see that BTC has clearly broken past the 1.618 Fibonacci zone (drawn from BTC's 2018 low in mid-Dec). 👍
In for some convincing 🙏🏻
According to news site MarketWatch, the Banking Committee of the U.S. Senate will hear testimony on Facebook’s Libra cryptocurrency project. The hearing, titled "Examining Facebook's Proposed Digital Currency and Data Privacy Considerations", will be held on 16 July. 🗣️
According to head of the U.S. Federal Reserve, Jerome Powell, Facebook had previously "made quite broad rounds around the world with regulators" and sought consultation.
However, several government officials in other countries have already expressed their doubts about Libra. For example, French Minister of the Economy and Finance Bruno Le Maire said that the French government intends to “ask for guarantees” for it. Chairman of the Russian State Duma Committee on Financial Market Anatoly Aksakov said that the Russia would not legalize it. 🛑
Nicely LINE-d up 👌🏻
According to a recent report by Bloomberg, Japanese messaging app LINE is close to winning a crypto exchange license from the Japanese Financial Services Agency (FSA), and could see its pending license get approved as early as this month. 😬
With the clearance, LINE will be able to launch the platform, dubbed "BitMax", in just a few weeks and offer cryptocurrency trading services to its 80 million users in Japan. Currently, only 19 cryptocurrency exchanges in Japan has received such a license from the FSA.
Also according to Bloomberg, LINE is seeking has another banking license pending in Japan, which if approved, will allow LINE to create a cryptocurrency payment tunnel for other services like online shopping. 😲
Please come 🤗
According to news outlet The Star, Malaysia has launched a work visa program to target blockchain talent. The initiative results from a joint-partnership between NEM (NEM) Foundation, job marketplace Jobbatical, and the Malaysia Digital Economy Corporation (MDEC). MDEC is a government-owned organization that oversees Malaysia's tech sector. 👍
Through this program, it hopes to attract foreign professionals with blockchain expertise by permitting them to stay in the country for up to 12 months to provide blockchain-related services or undergo training at a Malaysian company. 🤗
According to MDEC's growth ecosystem development vice-president, Norhizam Abdul, the "number of visas to be issued depends on the projects that will be run by blockchain companies in Malaysia."
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)!
A cryptocurrency reward system usually on a website or app, that rewards users for completing certain tasks. It is mostly a technique used when first launching an altcoin to interest people in the coin.
Other news 📰
According to a recent bi-weekly call of Ethereum core developers, the first stage of the Ethereum network’s transition to Ethereum 2.0 is expected to happen on 3 January next year. 🗓️
San Francisco and London-based open banking platform, Token, has raised $16.5m in funding in a strategic round that saw the likes of prominent tech funds Opera Tech Ventures, Octopus Ventures, EQT Ventures, and the venture arm of BNP Paribas, investing. 💰
The Chicago Mercantile Exchange (CME) Group has released data showing that open interest in Bitcoin futures has been steadily rising. It revealed that on 17 June, open interest spiked to an all-time high of 5,311 contracts totaling 26,555 BTC (~$246 million). 🙌
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 think that Block.one's $30 million purchase of the "voice.com" web domain is reasonable.""
The average vote was a 5.6.
"Why or why not?"
Point blank, that’s bonkers 🤪- Insane in the membrane. $30m. 💸
Too much of a premium. - Well, to each his own. Voice.com does have a nice ring to it though... 🤔
If they put facebook out of business, it was a home run. - True. Never thought of it that way. 🤔
ridiculous - loll it's is pretty darn astounding. 🤯
there are few assets / products which are unique & there are always people willing to pay the asking price. if the buyer is paying this kind of money which he thinks will reasonable so be it. .. for domains we have seen this kind of price few times.. personally if u ask me domain name does not matter, product matters. - I agree that the product matters to a greater extent, but the domain name matters a great deal too. Think about it, most famous brands comprise of 2-3 syllable words. 💭
Obviously, some domains are really valuable, or will. Who’s going to own one.zil is a valuable question - My guess is it's Google. 😊
No, it's outrageous in a time of regulatory uncertainty. - Lol, talk about making a statement huh? 💪
Well, why not they raised lot of money in ico with launch of eos... Let them. Spend. - Shouldn't more go into dev? haha 🤔
Why not - If ya got the means, why not! 💰
I think The Voice will be greater than Facebook. - Bold statement. Interested to see how it all plays out though! 👀
Reasonable? GoDaddy sells domains for 4.99 don't they? I own myknife.com, I'll sell it for 15 million. - Hahahaha, this cracked me up. 😂
favourable premium - I certainly hope so! 🙏🏻
I bet GoDaddy does!! - Hahaha 🤑
There are far more things that amount of money could be used for than a TLD. Research, education, relief efforts etc. It's vanity driven by ego. - I believe it's called big FU money. 💰💰💰
Easy accessible - true.
The world loosing it, i can have a wonderful early retirement with 30 mill. I would have picked a different name and gotten the domain for cheaper. Like the regular 5$ for a domain I register for all my wacky adventures. - Prob could've found something cheaper no doubt.
That is an insane amount of money for a domain Name that's cost someone a few pounds. Oh how I wish I had become a Cyber Squatter back in the day. - Hahaha gotta get in on things early! Not too worry! Our time will come with crypto.👌🏻
Thank you all for reading! Catch you back here again tomorrow for your daily dose of crypto news! 💙
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