"Moderate in order to taste the joys of life in abundance.”
Welcome back CoinMarketCap crew! Hope you all had a great weekend. Did anyone catch the epic Wimbledon gentlemen's final last night? 🎾
Today in history (1984), the late John Lennon's "I'm Stepping Out" single was released posthumously. It was the last single from the final John Lennon and Yoko Ono album, "Milk and Honey". 🎵
In today's newsletter, we will be covering trueDigital Holdings seeking to launch a "fully-regulated" crypto derivatives exchange, Tether mistakenly minting 5 billion USDT tokens and Pundi X (NPXS) integrating its crypto payments system VeriFone's Point of Sale (POS) terminals. We've also got 2 special announcements today, so don't forget to check them out below too!
Please do not forget to answer the polls down below too! It's a great way to interact with you and hear what you have to say. 💭 Happy reading! 📚
My oh my! Sugar we're going down~ 📉
Over the weekend, total market capitalization fell steeply from ~$317.6 billion to ~$277 billion. Over the past 24 hours, most coins are seeing double digit losses again for the second time in one week. Brutal!
BTC is currently trading at ~$10,200, down ~12% over Friday's levels. On the daily chart, BTC closed below its 21-day EMA line, a line that has been providing it support for since early Feb this year. It is currently testing its 50-day EMA support line. On the weekly chart, the MACD line seems to be forming an inflection point, so we could soon potentially see further downward pressure in the coming weeks/ months. Also, on the weekly chart, RSI has dropped from ~78 to ~68, indicative of reduced bullish momentum.
Not many out there 👀
In a recent press release, institutional digital assets platform trueDigital Holdings announced its plans to offer Bitcoin (BTC) derivatives, and has already reached an "agreement in principle" to acquire designated contract market (DCM) and swaps execution facility (SEF) registrations with the US Commodity Futures Trading Commission (CFTC) from a firm called trueEX. 😲
While the deal is currently pending approval from the CFTC, trueDigital Holdings seeks to launch a "fully-regulated" cryptocurrency derivatives exchange that would list trueDigital's bitcoin physically deliverable swaps.
According to trueDigital CEO Thomas Kim, this crypto derivatives exchange initiative would help introduce "a complete end-to-end offering, currently unavailable today, that encompasses tokenization, payments, market data and settlement for the benefit of our [their] clients and partners." 👍
According to Whale Alert, a Twitter account dedicated to reporting large cryptocurrency transactions, Tether accidentally minted and subsequently burned 5 billion USDT tokens. 🤦♂️
According to Whale Alert, 50 million USDT tokens were first transferred from crypto exchange Poloniex to the Tether Treasury. Subsequently, the Tether Treasury minted 5 billion USDT tokens on the Tron blockchain and then minted another 50 million USDT on the same blockchain before burning 4.5 billion USDT. Finally, 50 million Tron-based USDT tokens was transferred to a wallet presumably belonging to Poloniex. 🤔
In a tweet, Tether CTO Paolo Ardoino explained that Tether meant to perform a swap of 50 million Omni-based USDT tokens to the Tron blockchain, but a mistake was made with the decimals. Poloniex confirmed this in a response tweet, saying that "Paolo is correct - this occurred while Poloniex was conducting a USDT chain swap with the help of Tether".
To the land of milk and honey 😬
Crypto payments startup Pundi X (NPXS) has integrated its crypto payments system into a device made by VeriFone, an American Point of Sale (POS) system producer. 😀
Pundi X has integrated its XPOS crypto payments module on VeriFone's X990 Android-based POS terminal, and "will now be able to process cryptocurrency payments alongside traditional transactions.” 👌🏻
The terminal support payments in Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), KuCoin Shares (KCS), Kyber Network (KNC), Nem (XEM), and Pundi X (NPXS). The device will automatically exchange between fiat and cryptocurrencies during the transactions, which can be made with Pundi XPASS cards or the XWallet app. VeriFone currently already has over 35 million devices in more than 150 countries.
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Other news 📰
Crypto exchange Binance has announced that it has completed its 8th Binancin Coin (BNB) token burn and will also burn its team-allocated BNB tokens. 😲
Japanese crypto exchange Bitpoint has found over 250 million yen (~$2.3 million) of the recently stolen ~$32 million in cryptocurrency on overseas exchanges. Notably, these exchanges use a trading system provided by Bitpoint Japan. 🧐
According to Korea Times, consortium of major South Korean firms (KEB Hana Bank, Woori Bank, KOSCOM, SK Telecom, KT, LG UPlus, Samsung Electronics) will be launching a blockchain-based mobile identification system in 2020. 💪
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: "The more I learn about crypto, the more I get hooked.""
The average vote was a 8.7.
"Why or why not?"
When I really learned about bitcoin in May od 2017 I have been hooked ever since spending at least 3 hours a day 7 days a week buying and selling. Be here or left in the dust. - That's some dedication there! It's gonna pay off. Keep at it! 👍
It started on October 17, 2017 and since then I focus on the blockchain technology. I started investing and never stopped since then! I followed several online training and every day i get more excited and enthusiast. Looking forward to give a hands on training and help people investing. Long trip head of us and that is fun. - The path ahead seems bright! 😬
Absolutely 😀 it's so damn interesting, I love tech and and finance and I find myself learning new things about crypto almost everyday and spreading the word, I've been in the space since early September of 2017 and haven't not regret it. - That's relatively early! Glad you have no regrets. 😀
We are witnessing the greatest new financial innovation in centuries, with huge gains already made, and more to come. Anyone with half an eye open for a good investment medium, and a safe haven against paper money, would be vitally interested. It's rung my bell. I have much to learn. - As we all do. It seems like we are all learning as it goes. 🤓
The more I learn the more I realise how little I know. - That's how it is with most subjects hahaha 😂
Puts the control back in the hands of the owner, not the banks and governments. - As it always should have been.
Why, because a blockchain ledger can keep our political and business segments in check, offer financial independence, and offer freedom from fiat currencies - True. I agree. 👌🏻
I love sound money that I can control myself, with no middle man and no political agendas. Stored on my ledger, only I can access it. That fact alone is priceless! - Yup I agree.
Crypto is another world of its own, intriguing and fun to learn. - It's just such an exciting space. And there's just so much to look forward to. 👀
Yes! it is so !!, it is no longer possible to ignore what is happening, and to pretend that nothing is happening)! it's amazing how people don't see it ??? - Haha yeah that boggles my mind too. That's why we have to do our part in educating others. It isn't too hard to get behind the idea once people learn about it. 😀
most people i know including me came looking to invest some money in bitcoin.. but the more u learn about the ecosystem the more u get hooked.. - It's a drug lol. 😂
Sometimes I get disheartened by the scams and money hungry intentions, but then I see the ideals of crypto and blockchain, and think it's too good to ignore! - Yeah those really are a bummer. But it's pretty much the same in any industry - There will be good and bad agents!
The development of cryptocurrencies is great especially for technogeeks. - It's a cypherpunk movement! 🤖
It truly a fascinating thing, I have learned long ago to keep up to date with what new on a daily basis, make sure what i know is locked in my head. I can't see a future where crypto isn't a part of it. - My sentiments.
It's decentralized. No main office in New York or elsewhere. I can send money anywhere in the world for very little cost and quickly. - Yeah, I still find it ridiculous how it still takes more time to transfer money overseas via wire vs. taking a physical plane to deliver the money. It just does not make sense to me. 🤦♂️
"What are your plans for the weekend?"
Pulling weeds, in my garden and my crypto bags. #altseason prep - Haha good idea. Not many alts will make it out of the next bull run imo. On the same note though, the alt coins need more lovin. 😣
Doing sport and having air after too much time behind a computer. - Yeah balance is important. Being behind a computer too much really ain't good for ya. 🤯
Well I'm working the weekend, but I have a friend comming down from silicon valley comming to hang out. Should be a good weekend, I got him a ledger s. 😜- Nice! Doing your part in evangelism!
Eat well - That's something I look forward to every week. 😋
I will relax with my family !!! - Always time well spent. 👍
at home.. lazy weekend.. will visit home depot & ikea to pick some home stuff.. - I love working on my home. It's super therapeutic. 💆
Learn to code an erc20 ico contract. build a new site where businesses can hire me to findout why their customers aren't paying ( collections diagnosis). Work on a new tune. Work on plans toward building roadmap for project re VZX Token - That's awesome. You're acquiring a skill not many currently possess. 👍
chillin with my 7 year old - Say hi to the little one for me!
watch England win (in Roy we trust) the cricket world cup fuelled by sunshine n alcohol - Congratulations! 🎉
Want to go check out surf tour making a stop in my town, but i'm also freezing my ass off. So will look into new coins to drop some coin into, probably. - Good weekend to go coin shopping. 😬
I'm retired. Every day is a weekend - That's the life! Well deserved I'm sure.
Wedding to go to - Congrats to the newly weds! 🙌
Thank you all for reading! Catch you back here again tomorrow for your daily dose of crypto news! 💙
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