You’ve got it in ya

Your daily newsletter for August 23, 2019
Potential
“Potential is not an endpoint but a capacity to grow and learn.”
- Eileen Kennedy-Moore
TGIF! That's another week down! Good job errbody. - Time to enjoy the fruits of your labor! Enjoy your weekend! 😋

Today in history (2005 ), Hurricane Katrina formed over the Bahamas, which later evolved into a category 5 hurricane. 😲

In today's newsletter, we will be covering Coinbase Wallet enabling its clients to use decentralized apps (DApps) on any desktop browser, Blocko raising 9 billion Korean won (~$7.44 million) in an Series B+ round and Blockstack PBC receiving strategic investment from Japan's Recruit Holdings.

Today, we will also be covering Holo (HOT) for our weekly deep dive! Also today in our 'Blockchain term of the day' section, we have another well put together infographic done by cryptocurrency index building and trading automation software, Panda Analytics! So don't forget to check that 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! 📚

Small win 😀
Over the last 24 hours, total market capitalization rose slightly from ~$262.6 billion to ~$266.6 billion, with most coins seeing gains in the ~1-4% range. Notable movers of the day include Ethereum Classic (ETC) and Icon (ICX), each up ~13.65% and ~16.8% respectively. 📈

BTC is currently trading at ~$10,190, up ~1.75% over yesterday. On the daily chart, it is trading below its 50-day EMA line, with RSI level at ~43. On the weekly chart, the MACD line is very close to crossing over to the downside of the signal line. 👀

Versatility ✊
According to an official blog post, crypto exchange Coinbase’s Coinbase Wallet has enabled its clients to use decentralized apps (DApps) on any desktop browser. 💪

Coinbase Wallet’s users can now use their DApps on any desktop browser through its WalletLink service, which serves as a bridge between customers’ Coinbase Wallet app and desktop browser.

Coinbase has tested WalletLink with browsers such as Google Chrome, Mozilla Firefox, Microsoft Edge, Opera and blockchain-based decentralized browser Brave. The company plans to add support for native mobile apps and more currencies in the future. 👍

Strong backing 👍
South Korean blockchain firm specializing in enterprise blockchain applications, Blocko, has raised 9 billion Korean won (~$7.44 million) in an Series B+ round. The likes of Shinhan Bank (Korea’s oldest bank), KEB Hana Bank, LB Investment and Dadam Investment participated in the round. With this round of injection, the firm’s total funding to date comes out to ~$20 million. 💰

Blocko builds business-focused blockchain services, and has already been working in conjunction with several national institutions such as the nation’s stock exchange, the Bank of Korea, Hyundai and the Korea Electronics and Telecommunications Research Institute.

In May this year, it launched a blockchain platform dubbed "Argo Enterprise" that seeks to address the “growing need for data sharing between industries and companies in areas such as identity verification, document management, and the Internet of Things.” Argo Enterprise is presently deployed in more than 10 companies and institutions around the world. 

Getting a foot in 👣
Blockchain startup Blockstack PBC has received strategic investment from Japanese human resources giant Recruit Holdings. As part of the investment deal, Recruit Holdings, currently valued at $50 billion, is purchasing Blockstack’s STACK tokens. 💰

According to Blockstack's CEO and co-founder, Muneeb Ali, “Japan is a very interesting market for crypto because it has clarity around regulations. It is legal to own and trade crypto assets, but only those whitelisted by the regulators.”


Recruit Holdings' investment paves the way for Blockstack to expand into the Japanese market.

Blockchain term of the day 🤓 - Proof-of-Stake (PoS)
Crypto deep dive: Holo
  • Cryptocurrency: HOT
  • Market Capitalization Rank: 56th (~$109.3 million)
What it's about ⚙️
  • Holo (HOT) is a decentralized application platform that uses peer-to-peer networking for processing agent-centric agreement and consensus mechanisms between users.
  • No true global consensus is maintained. Instead, each agent in the public blockchain maintains a private fork that is managed and stored in a limited way on the public blockchain with a distributed hash table. 
  • Every device on the network functions independently, and only requires the synchronization of data when necessary, or agreed upon by users. This translates into higher scalability for dApps hosted on Holo. 
Why people love it 😘
  • It is unique in that it isn't really a blockchain. The distributed hash tables do not act as one large blockchain, but rather they simply work synergistically with one another as small interconnected ones. (A little confusing, I know!)
  • The HOT architecture is extremely light, scalable and efficient. You may even be able to run a node on your mobile phone. 
  • The development team at HOT is impressive and dedicated, as seen from their very active Github repositories and number of commits. 
  • HOT is only a small part of a larger overarching vision. Holo is part of "Ceptr", the tech layer that implements the ideas of "MetaCurrency" (which Ceptr is under). Metacurrency is seeking to disrupt and revolutionize the whole world’s financial system.
Why people doubt it 🤔
  • Very little emphasis on marketing. It's easy to sleep on this project if not for their large market capitalization.
  • It does not have a capped total supply, which means HOT tokens by nature are inflationary.

Everybody! Stop what you're doing and take notice! 🛑 You're all gonna loveee this one! 

The CoinMarketCap team has thought about this long and hard, and we've decided to... eliminate the price barrier for all attendees! Yes, rub your eyes and read again! Tickets are now FREE!!! You'd simply have to make it to the Victoria Theatre in Singapore on 12-13 Nov!

We've also introduced a nice food & beverage ticket that includes access to a lovely after-party. We cannot wait to see you there! Check it out here! 😀


Other news 📰
  • According to a recent report by the Financial Times, at least 3 of Facebook’s early backers for its planned Libra stablecoin launch are considering withdrawing their support in light of the regulatory pushback. Some are concerned that their public support for Libra will draw unwanted regulatory scrutiny of their own, independent businesses. 😔
  • Patrick Byrne has resigned as Overstock.com CEO and is stepping down as a member of its board of directors after admitting to a 3-year relationship with currently imprisoned Russian agent, Maria Butina. 😲
  • Swiss private bank Maerki Baumann has had an influx of 400 new clients wanting to tap its future blockchain offerings when it revealed its interest in the sector. 🤗
Crypto calendar 📅

29 Sept - U.S. SEC's decision on the Wilshire Phoenix’s Bitcoin and Treasury Investment Trust ETF application, under the NYSE Arca exchange (initial decision)
13 Oct   - U.S. SEC's decision on the Bitwise Asset Management's Bitcoin ETF application, under the NYSE Arca exchange (final decision)
18 Oct   - U.S. SEC's decision on the VanEck/SolidX Bitcoin ETF application, under the Cboe BZX Exchange (final decision)
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: "Given the chance, I would be interested in working for Facebook's Libra project." 💭
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Why or why not? What are your plans for the weekend? Share with me in the polls! 😆
What you said
"How much do you agree with this statement: "If traditional markets were to enter into a recession, the crypto markets would start to shine.""

The average vote was a 7.5. 

"Why or why not?"

There's such a watch on the fiat flows of the major markets right now; a lot of folk (myself included) see some sort of recession in the mix for the near future. Part of me wants to put more into at least Bitcoin, if not Ether and Litecoin; the Amazon burning doesn't inspire much other than we're doomed either. Going to be pretty trippy for the next few years guaranteed. - Yeah the Amazon thing just makes you wonder how warped our priorities are lol. We def are in for a ride. 🤦‍♂️

I'm pretty 50/50 on this. The last recession is basically why the BTC whitepaper was released in the first place. But this time around, if people lose a bunch of money, are they going to want to spend their remaining money on crypto? Might be a tough sell. Any current HODLers would make out like a bandit though :D. - Yeah it's hard to say. I do think Gold is a good bet though. Then you think of Bitcoin being a better gold, it makes sense to get BTC. The question is if others will be able to see it. 🤔

People may take a second look at crypto when the traditional markets begin their decline. - Hopefully!

No if ands or butts! - I admire your confidence! 😬

i am not sure, but hope it will. i think this is the first time we will be witnessing this. i do think if recession really kicks in, people will be looking at crypto assets to save their wealth from eroding. also i think after recession crypto will be among the early asset to recover. - I do think so as well. It will still be able to maintain its value well.

Well... Speculations are ripe that there is recession around and bit of turmoil. Usa bonds are giving like negligeble returns, europe bonds are giving inverse returns. Plus, bail out, rate cuts not good for fiat, it would get devalued. There is china crisis, people want to hold to other assets. Argintina too currency crisis. All of them will hold crypto, or gold rather than their fiat currency. Then be prepared for brexit turmoil... So yup it looks like a good environment to test btc, it came into being bevause santoshi did not like the fiat control of govt and btc cant be manipulated by govt. So nice hedge against fiat. Thats whats said...but i am.not clear why cutting interest rates to regilate supply of fiat by bank in economy is bad. Will it cause devaluation. I am cen percent sure personally i dont trust my govt. And the way they manage our money, so i would like to hold cryptos for sure. Yup its bullish with some signs of crisis, so yup cryptos can shoot over , next two years. Buy the dips and hold - i am waiting to make holdings in eth...i have holdings in eth, ltc, bnb and some alts. If i hold some eth too, will be a lill bit more on for bull run...but i need to be patient as i can invest only what i am am prepared to lose. Anyway. - Gotta hodl your cryptos good! It's gonna be a bumpy ride fo sho. 😅

The non traditional as it matures and becomes mainstream will definitely become the alt-market! - Hopefully we'll get to see an alt run 2.0 muahahah. Those were some crazy days. 

Wouldn't say so because during a recession people are afraid of investing in any asset. A good example was the crisis in 2007/2008 -> gold didn't pump because people were afraid to invest in it although it's considered as a "save haven". - It did rise thereafter though. 

With negative and low interest rates, the alternative is to store cash under the matrice. Zimbabwe uses Vodercash (the Vodafone air points) fixed to the US$ which is more stable than their $. Every low wage earner there has a phone so makes sense, and they trust it. But for our more developed markets Altcoins and Bitcoin will become trusted SLOWLY and as it rises in value more will want to be in on the profits, fear of loosing out. - BTC is the king.

It's time for a change... - It's already happening (:

Thank you all for reading! Catch you back here again next week for your daily dose of crypto news! 💙
See you again on Monday!
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