Exude it - CoinMarketCap

Your daily newsletter for August 1, 2019

Positivity

"Be the reason someone smiles. Be the reason someone feels loved and believes in the goodness in people.”

- Roy T. Bennett

Wassap CoinMarketCap crew! Hi Thursday! Hello August! Clear warm blue skies and the sun shining bright where I'm am at. Today is gonna be a great day, I can just feel it. Perfect way to usher in the new month! 👍

Today in history (1996), George R.R. Martin published the first fantasy novel "A Game of Thrones" in his epic series, "A Song of Ice and Fire". The novel won the 1997 Locus Award and was nominated for both the 1997 Nebula Award and the 1997 World Fantasy Award. ♘

In today's newsletter, we will be covering LedgerX becoming the first U.S. derivatives provider to launch physical Bitcoin futures trading, the Dubai International Financial Centre (DIFC) partnering with Mashreq Bank and fintech firm Norbloc to launch a blockchain-based know-your-customer data-sharing consortium and Kraken acquiring Interchange.

Also today, we have our weekly 'Thursday think tank' section, courtesy of our friends over at Flipside Crypto! So be sure to check that out below!

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! 📚

Consolidation 🤜🤛

Over the last 24 hours, total market capitalization rose slightly from ~$270 billion to ~$272.4 billion, with most coins either seeing gains or losses in the ~1-4% range. Overall, the market seems to continue consolidating. 🤔

BTC is currently trading at ~$9,940, up ~1.9% over yesterday. It was able to peek above the $10,000 mark earlier in the day but fell back below it shortly after. On the daily chart, BTC is currently challenging its 21-day EMA line. RSI level is currently at ~47.8.

First! ☝️

U.S. Bitcoin (BTC) derivatives provider LedgerX has become the first derivatives provider to launch physical Bitcoin futures trading, even ousting the much anticipated Bakkt exchange's. LedgerX's physical futures offering is now live on its Omni trading platform. 😬

In late June, LedgerX was able to obtain the requisite license from the Commodity Futures Trading Commission (CFTC). Prior to this, the U.S. market for physical BTC futures trading was previously vacant. 💪

Trading on Omni is currently open only to U.S. and Singapore residents, subject to a minimum deposit of $10,000 or 1 BTC.

Under my umbrella~ ☂️

According to the Emirates News Agency, the Dubai International Financial Centre (DIFC) has partnered with Mashreq Bank and fintech firm Norbloc to launch a blockchain-based know-your-customer (KYC) data-sharing consortium in Q1 2020 to support businesses in Dubai. 🙌

The parties will establish a consortium agreement to combine and streamline the KYC efforts of future participating financial institutions and government bodies. The program seeks to create a single digital KYC record, able to be authenticated with an electronic ID, to allow users to share data with other financial institutions.

According to the CEO of the DIFC Authority, Arif Amiri, this initiative enables the harnessing of innovative technology "to deliver a seamless experience for both newly established and existing companies at the centre." 😀

Acquisition 🤝

Crypto exchange Kraken has just acquired an accounting, reconciliation and reporting service provider, Interchange, so as to help institutional investors such as hedge funds and asset managers better manage their portfolios. 👌🏻

Through the acquisition, Kraken hopes to provide institutional investors with better tools to monitor and report their crypto portfolios. Interchange, currently already servicing upwards of 60 institutions, is said to offer an “institutional-grade” service and was co-founded by a former director of product at wallet 'Blockchain' and ZeroBlock, Dan Held, and by the founder of Bitcoin trading platform RTBTC, Clark Moody.

Kraken believes that the added service will compliment its multi-exchange charting, trading and portfolio-tracking platform Cryptowatch, allowing it to offer products including historical and current data, advanced charting, multi-exchange trade executions, research and insights, critical accounting and portfolio reconciliation tools, and crypto indices. 😊

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)!

Blockchain term of the day 🤓 - Bear trap

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.

Special announcement 📢 - CoinMarketCap 'The Capital' Global Conference

Everybody! Stop what you're doing and take notice! 🛑

Come 12-13 Nov this year, CoinMarketCap will be hosting our first ever "CoinMarketCap 'The Capital' Global Conference" in Singapore! Come take part in this historic event.

Get your tickets here! Can't wait to see ya! 😀

Other news 📰

Russia’s 2nd largest airline, S7 Airlines, recently announced that its ticketing platform that enables the sale of air tickets via an Ethereum-based private blockchain platform has raked in over $1 million in July. In the announcement, it touted that blockchain technology can help boost sales. 🤑
Crypto exchange Bittrex has partnered with Bahrain-based crypto exchange and custodian provider Rain Management WLL to launch a digital asset trading platform for customers in the Middle East and North Africa (MENA). 🤝
Crypto exchange Kraken has announced a new wire service through Etana Custody that will enable worldwide fiat funding options and allowing users to transact in USD, EUR, CAD, British pounds, and Japanese yen. 🤝

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

TBA - Justin Sun's lunch with Warren Buffett

Catch the CoinMarketCap team at these community events! 🤝

12-13 Nov - CoinMarketCap 'The Capital' Global Conference (Singapore, Singapore)

Poll of the Day

How much do you agree with this statement: "I believe that Bitcoin (BTC) is a better store of value than Gold." 💭

Why or why not? Share with me in the polls! 😆

What you said

"How much do you agree with this statement: "I wish to be working in the crypto industry.""

The average vote was a 7.2.

"Why or why not?"

Yes, I want to .. it would be nice to take courses and go! - Take a leap of faith and just goooo! 👌🏻

trying to come up with some ideas for a business as BTC popularity takes off, still a lot a people fear and neglect, yeah but I am " crypto hoarder" (and HODLER) more than anything lol... I have used crypto for converting fiat oversees by my own efforts so this is a practical application with peers as an example of value. Anyone wishing to buy Bitcoin scratch cards Or LiteScratch hahaha. Anyone? - Lol, its a relatively new space so there are plenty of services you can provide!

to help freedom - Free da world! 👍

It's just not my gig. - Def not a space for errrbody. 🙃

I am in it now and will continue forever forward. - Get it cuz. 💪

My work life started with telex (what's that I hear you say) and about a decade later I got very involved with the startup of internet in the commercial world and thought that was brill. Now if I was a younger dude I'd love to have been working in the crypto industry.... instead I'll just trade in it yee ha!!! - Great to see you evolving with the times. Happy that you're part of it in some way.

I work in real estate now but would love to work in crypto. - Well what are you waiting for! You don't wanna regret not taking the step later on in life! 😉

Yes...i am a crypto enthusiast would love to work in the crypto field. - Come join us! 🙌

I WOULD LIKE FINANCIAL INDEPENDENCE AND JUMP ON THE TRAIN IN THIS DEVELOPING MARKET - Join the fam yo. We welcome u with open arms.

It’s the future and working in it will help my investing in it - True. You'll be closer to the source which = more inside info. 🧠

My current salary is not bad but is not good at all. So yes, I wish to be working in the Crypto World and know how to coding hard for that... Any school online anybody can recommend me? - There are plenty of courses available from reputable universities now! For example, there's a 6-week online MIT blockchain program.

To collapse unfair, corrupt financial and political structures and methodologies - Yeah f em. 😂

Have other interests ! - What could be more exciting than crypto! 😋

Who wants to be a Junior Techy Millenial Programmer Cog when I am a Senior Astronaut Master Carpenter and only a user of crypto? - Whut.

Cryptocurrencies are the future - No doubt.

I am 47 now and with my current investments and what I intend to keep investing my plan is to retire at 50. - Dang that's early! Congratulations! You must've made some smart investments.

Embracing the future, immersing into the transition of this epic time! 🌈 Besides, we’re designing the best crypto learning game ever 🔥 Better stick with it 🤓- Give me a sneak preview! I wanna seeeee. Send me a link or smth!

I have worked in the institutional retirement plan space for years helping companies help their employees save for retirement. I want to see digital assets incorporated into these programs. Tokenization can replace the ESOP and other plans. - Hell yeah it should. You should push and spearhead that transition!

Nothing stopping me, except sloth and laziness, although I been thinking of taking sabbatical so I can play with my ideas for a month or 3. See what happens. But I would love to work in crypto sphere, just because passion. - Do it. Sometimes you gotta take a step back to re-access what you really want. It's like taking a step back to move 3 steps forward. 👣

i am basically a Holder & into some trading so can say i am working in crypto industry. if i had coding knowledge it would have been fun to be directly a part of the blockchain world. - Sign up for one this week! You won't regret taking that step. 👍

Yeah I gave it a 10 because I can speak from first hand how exciting it is to work in crypto. I work for BTC Direct and nothing beats the feeling of converting a no-coiner to a coiner. And not because of potential gains, but because of the great fundamentals of bitcoin, and the lack thereof with fiat. - I agree. That moment when a no-coiner sees the light is just priceless. Getting to witness that time and again must be addictive.

Thank you all for reading! Catch you back here again tomorrow for your daily dose of crypto news! 💙