Grab it by the horns - CoinMarketCap

Your daily newsletter for August 5, 2019

Get out there!

"A ship is always safe at shore, but that’s not what it’s built for.”

- Albert Einstein

Good morning, CMC fam! It's a brand new week, so down that cuppa coffee you're holding, kick your systems into high gear, and let's get to it! 🏎️

Today in history (1996), the Beatles released the single "Yellow Submarine" with "Eleanor Rigby". 🙌

In today's newsletter, we will be covering Shinhan Financial Investment to soon be offering peer-to-peer (P2P) stock lending via the blockchain, the People’s Bank of China (PBoC) seeking to accelerate the development of its cryptocurrency and Bitcoin.com to soon be launching its crypto exchange.

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! 📚

Weekend run up 🚀

Over the weekend, total market capitalization steadily climbed its way from ~$284.9 billion to ~$308.8 billion. We are finally back above the $300 billion mark after 3 weeks.

BTC is currently trading at ~$11,715, up ~9.4% over the last 24 hours. After failing to break down below the ~$9,400 level twice in the last month, BTC is back with an RSI of ~63 (indicative of strong bullish momentum). BTC dominance also just broke its yearly and 24-month high again and is at ~67.8%! The last time it was at this level was way back in early April 2017! We are still seeing a shifting of confidence from the alts to BTC. 🧐

The way to go 👍

According to The Economic News, Shinhan Financial Investment will soon be offering peer-to-peer (P2P) stock lending via the blockchain. It will allow individuals to bypass an intermediary, so as to borrow and lend securities with other individuals directly. The timeframe of the offering roll out has yet to be reported.

Shinhan Financial Investment is developing this capability in cooperation with Directional, a Korean company that has been permitted by the Financial Service Commission (FSC) to provide stock lending and borrowing as part of the government’s sandbox initiative. 🤝

Shinhan Bank, like most other commercial banks in Korea, has been more enthusiastic about blockchain solutions as to cryptocurrencies. 2 years ago, it started using blockchain technology for the verification of gold bars. Following that, it utilized blockchain technology for interest rate swaps and and cross border remittances.

Faster! 🗣️

The central bank of China, the People’s Bank of China (PBoC) recently released a statement detailing a recent conference's proceedings, in that it has suggested the acceleration of the development of its cryptocurrency.

PBoC suggested that it should accelerate the research and development of its digital currency, and that much attention should be also given to other domestic and foreign cryptocurrencies. It also believes that it should strengthen financial risk remediation as well as its policy propaganda interpretation and respond quickly to social concerns. 👍

PBoC has seemingly prioritized the development of a digital renminbi in response to the growing adoption of cryptocurrencies globally, especially after the announcement of Facebook's Libra. It has received approval from the State Council to begin work with other market participants on a central bank digital currency.

According to PBoC director Wang Xin, a landscape in which sovereign currencies coexist with only U.S. dollar-centric digital currencies could "bring a series of economic, financial and even international political consequences.” 🤔

Promoting your space 🤑

Bitcoin.com has announced the launch of its crypto exchange, "Exchange.Bitcoin.com". The company has already developed a crypto casino, a wallet, and a P2P bitcoin cash exchange, all aimed at furthering the utility of the Bitcoin Cash (BCH).

The exchange is expected to launch in early September, and will list major coins such as Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC). It also intends to offer around 50 trading pairs, as well as Simple Ledger Protocol (SLP) tokens tied to the BCH blockchain. 👀

Bitcoin.com chairman Roger Ver believes that the space is "on the cusp of something very exciting with SLP tokens — It’s the beginning of a world where we can tokenize anything and, as people realize the potential this holds, they’re going to start demanding a place to trade their tokens.”

Blockchain term of the day 🤓 - Cloud mining

Mining with remote processing power rented from companies operating outfits in countries like Iceland, where the electricity is abundant and cost-efficient, and the ambient temperature is cold year-round. Another term for this is mining contract.

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 📰

Nexo (NEXO) has unveiled a crypto card with a line of credit backed by the users' crypto collateral. 💳
The Litecoin (LTC) halving occurs today. Following the halving, LTC miners will only receive 25 LTC per block. 👀
U.S-based cryptocurrency index fund provider Bitwise's global head of research, Matt Hougan, recently released a letter on behalf of the company claiming that due to Facebook's Libra and Congress, we have "just fast-forwarded 2 or 3 years into crypto’s future" as "all the conversations, debates, and mainstream discussions" have accelerated "into the present day.” ⚡

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 the future of the banking industry is decentralized finance (DeFi)." 💭

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

What you said

"How much do you agree with this statement: "Most of my investment portfolio is currently in cryptocurrencies.""

The average vote was a 6.4.

"Why or why not?"

100% is. The traditional markets offer a weak return. Maybe 8% per year. I get crypto is more volatile but, high risk, high reward. Since January I've made 200% on my holdings. The traditional markets can't compare. Plus, I love having control of my own money and invest in what I want to with no middle man. I don't need to call a broker to make my trade for me. - Wow 200% is a big gain. Congratulations! Yeah its hard to get a decent return if you just leave your money in a bank. With DeFi, you're getting so much more bang for your buck. 💪

'Tis the future after all! - So happy to be a part of it! 🙏🏻

Most of my investment is in real estate. I am moving fiat to crypto. - Real estate (the real wealth of the world). It's a great way to truly build your wealth cause it scalable. 🤑

Actually I have converted 100% of my investment portfolio to crypto. The future of money. - ALL IN! I'm not even afraid for you buddy. That's how confident I am about this space. 😂

Yes. The profile has been quite great so far 😂 😍- Danggg, you baller! Good for you! 💰

My allocation today is 60pc BTC and 40 Fiat - Not a bad split if you ask me. 😀

To tell you the truth i learnt about investing only through trading cryptos. I know nothing about investing in stocks etc....all my investments are in cryptos. I have very less money and time so either i have to choose following and trading in cryptos or stocks. For me follwing stocks is hard feeling market is over saturated but cryptos are quite new and easy to follow, understand and learn. Once i make more money i may think of studying stockmarket but honestly reading about cryptos takes my 100 percent of my focus, so i would like to study and be involved in cryptos deeper for a long long time and grow with the ecosystem. I hope this is possible though in future my country is anti crypto, else i will miss one of the most engaging things for me to spend my time on a daily basis, learning and planing investments in cryptos. - That is so great to hear! Keep on pushing and learning about your passion. It's going to pay dividends! 😀

I believe in the space - Glad to have you on board this train to da moooooon! 🚀

Never put all your eggs in one basket ...as the orthodox phase out and the nexgen moves in, i will convert most but not until the portfolios equal one another . - Yeah, its a little extreme to put all 100% in one asset class. 🤯

I currently have 85 percent of my wealth in paid for real estate. The other 12 percent in crypto ltc and the remaining in silver. - Hmm interested to hear why Silver over Gold.

It's my business - Good space to be in huh 😉

100% invested in crypto. This is the new internet! - Loving the confidence.

No way to let my money on a traditional bank account with almost 0 interest. I leave my crypto investment portfolio on a crypto bank (Celsius). That gives me an APR from 3% to 6% and the more than 30% portfolio appreciation in less than 20 months. I love that! - That's awesome man. I'm all for DeFi. 😬

I don't trust banks or government. But even with volatile market I see it as safest place to put my hard earned cash. - I mean you don't have to put your entire portfolio into crypto. You could just allocate a small portion to it and enjoy the benefits of both worlds (if there's even any on the banking side) 😂

I DONT GET MONNY IN MY BANK. - Bank interest rates are so pathetic lol. 🤦‍♂️

cant move it with getting taxed come on AMER trade get in the game - lmao I love Ameritrade for trading stocks. They def should get in the crypto game. 🙌

Still acting with prudence and risk management on my crypto investments - Good on you!

All of my investment portfolio is in crypto. I am also adding to it every month. I have minimum savings in the bank just enough for a rainy day and every other penny is in Crypto. I do keep banging on and on to my friends and family about it but they all and I mean everyone of them think i'm barking mad. - Hahaha well I don't think you are. As long as you're not leveraged in any way, I think it's fine. To me, money can always be earned again. Living a life of regret knowing you didn't take your shot would hurt many more times over. 😬

"What are your plans for the weekend?"

River cruise in Europe - Im jelly!

Buying crypto - Heh congrats on catching the immediate upswing! 😀

Party in the name of a recently past friend and concerts! - Hope you partied real hard for him/ her! 💪

Going to the ranch. - Sounds fun.

Drive Uber, to earn to buy more crypto. - It'll pay off... Trust in the process and keep at it! 💪

I'm planning to go to an Obon festival (a Japanese summer celebration) . - Oh wow! I wish I could see some pictures. Send some in! 😀

Beer and comedy🤡- A complimentary pairing. 👍

With my family - Nothing better. 💓

Working - It'll all be worth it.

Surf surf and surf - Vibes~ 🌊

swim in the pool and bbq - You must've had a great, relaxing time!