"Only those who have learned the power of sincere and selfless contribution experience life's deepest joy: true fulfillment."
- Tony Robbins
Hello hellooo! Keep up the good work, fam. I know Wednesdays can be a drag at times, but keep pushing!
Today in history (2000), Coldplay released their debut album "Parachutes". It eventually went on to win a Grammy for "Best Alternative Album 2002"!
In today's newsletter, we will be coveringCrypto Briefing and our Data Accountability and Transparency Alliance (DATA) jointly launching a new crypto research and analysis product, Binance launching a Singapore branchandCoinbase launching a captive insurance company.
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 last 24 hours, total market capitalization rose again slightly for the second consecutive day from ~$344.8 billion to ~$355.5 billion.
BTC is currently trading at ~$12,990, up ~4.8% over yesterday. It inches closer towards its 17-month high of ~$13,600. Going to be interesting to see if BTC will be able to push through this mark and set a new yearly high. Fingers crossed y'all. 🤞
On the daily chart, RSI level is at ~66, indicative of growing bullish momentum. Also on the daily chart, the MACD line has crossed to the upside of the signal line, so hopefully this could be the impetus to propel BTC to a new yearly high! 📈
Digital currency review platform Crypto Briefing and our (CoinMarketCap's) Data Accountability and Transparency Alliance (DATA) are jointly launching a new crypto research and analysis product dubbed "Simetri". 🤝
The institutional-grade product, Simetri, is designed to ensure transparency and verifiable order book data from cryptocurrency exchanges, as well as provide in-depth fundamental analysis and unbiased insights into crypto projects. Simetri will be embedded in cryptocurrency profiles on CoinMarketCap’s site. 👍
Simetri will be able to assess fundamental elements of a project such as its technology ecosystem, utility, development, support, and various other factors that contribute to a healthy and sustainable project.
Lion city 🦁
Crypto exchange Binance has launched a Singapore branch that enables the buying and selling of cryptocurrencies in Singapore Dollars (SGD). 🙌
Since its soft launch in April, Binance Singapore has seen an average of 20% user growth per week and attributes a large portion of its success to its investment partner, Vertex Ventures China and Vertex Ventures Southeast Asia and India. In 2018, Vertex made a strategic investment of undisclosed amount in Binance with the goal of developing a crypto exchange and establishing a fiat-to-crypto gateway in Singapore.
In another partnership, Binance has partnered with local fintech startup Xfers to ensure that the lowest trading fees of any Singaporean exchange. Xfers helps manage transaction volume and customer onboarding.
Currently, Binance Singapore only offers support for 3 assets (Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), but seeks to introduce additional assets once market growth, compliance, and security are assured. 💪
According to crypto news source Coindesk, crypto exchange Coinbase is reportedly looking to launch a captive insurance company, in partnership with insurance brokerage firm Aon. 🤝
According to the report, Coinbase and Aon see the insurance subsidiary as a potential solution to the alleged shortage of insurance available to cryptocurrency exchanges. 👍
Crypto exchanges often set aside some crypto assets to cover any asset losses in the event of a hack. However, this approach currently lacks a formal structure and allows the firm to access the funds also for any other reason, decreasing the coverage. With the captive insurance firm, the funds will be regulated, audited, and segregated. 🧐
Special announcement 📢 - CoinMarketCap webinar: "Characterizing Cryptocurrency with Fundamental Crypto Asset Score (FCAS)"
On 12 July, 1030am Eastern Time (UTC-4), we will be conducting our third webinar with Flipside Crypto's CEO and Head of Data Science, Dave Balter and Eric Stone. 😄
A technique played by a group of traders, aimed at manipulating the price of a cryptocurrency. The bear trap is set by selling a large amount of the same cryptocurrency at the same time, fooling the market into thinking there is an upcoming price decline. In response, other traders sell their assets, further driving the price down. Those who set the trap then release it, buying back their assets at a lower price. The price then rebounds, allowing them to make a profit.
Other news 📰
In a recent tweet, John McAfee declared his willingness to work with Cuba’s government as a crypto advisor and develop its first cryptocurrency. 🙋♂️
Goldman Sachs has posted a new job listing seeking a Digital Asset Project Manager. 🤗
tZERO, the blockchain-based subsidiary of Overstock, has announced a partnership with film production and financing company Vision Tree to tokenize the movie, “Atari: Fistful of Quarters”. 😲
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: "There is still a slight fear in me whenever I send crypto.""
The average vote was a 5. Dead even!
"Why or why not?"
Lack of experience - It never goes away for me. There's always a small fear that I've sent it to the wrong address. 🙀
Always anxious until I start seeing the first few confirmations lol. - Same! That brief limbo period is a killer lmao. 😂
Always keeping a wary eye no matter - Always double, triple, quadruple check the recipient address and amount! 👍
Bc of phishing attacks - True. That's always in the back of my mind too. 😱
If it's to get new addresses for altcoins, IEOs, or ICOs, then a little bit for sure. There are various terrific blockchain systems that transfer marvelously. Can't see it getting anything but faster/better as these days whiz by. - I share the same sentiment!
Not at all, especially when i scan the address and not copy and paste. I trust it more than I do my bank, also purchasing a lot more from local online merchant who accepts BTC. Just wish would add a few coins to list. - Hahaha, man that is some dedication. Admittedly I, like most others, simply scans the first and last 3 digits of the recipient address before sending it out. 😅
No no fear - FEARLESS.
None whatsoever. Years ago I was worried when something didn't go through in a timely manner but nowadays it's easy peasy and fast for confirming. - Def has been faster over the last few months. Less network congestion across most blockchains. 👍
Because i do not do it too often as per now. - Back in the ICO days haha... 😂
Thank you all for reading! Catch you back here again tomorrow for your daily dose of crypto news! 💙
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