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Your daily newsletter for 29 August, 2019
Courage

"Success is not final, failure is not fatal: it is the courage to continue that counts"

- Winston S. Churchill

Good Thursday CoinMarketCap peeps! One more day to the weekend! Today also happens to be International Day against Nuclear Tests - did not know there was such a thang but I'm all for it! πŸ™… Today in history (1997), Netflix was founded by Marc Randolph and Reed Hasting. It started out as an online DVD rental business based in Scotts Valley, California. πŸ€― In today's newsletter, we will be covering Bakkt to open deposits from 6 Sept, Venezuelan pharmacy franchise Farmarket to start accepting Dash (DASH) payments, and a Coinbase study discovering a rising interest in crypto and blockchain in academia. Today, we also 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. πŸ’­ Happy reading! πŸ“š

Bloodbath πŸ”ͺ

Over the last 24 hours, total market capitalization plunged ~$20 billion from ~$265.6 billion to ~$245.5 billion, with most coins seeing losses in the ~5-10% range. 24-hour volume hit ~$64 billion. 
 
BTC is back below the $10,000 mark, and is currently trading at ~$9,470 down ~6.9% over yesterday. On the daily chart, BTC has broken below its 100-day EMA line, and RSI level is at ~37, indicative of a momentum shift from neutral to towards bearish. On the weekly chart, the MACD line has broken to the downside of the signal line, and BTC is headed towards testing its 21-day EMA line - a level it has managed to hold above since early April this year.  πŸ‘€
Total Market Capitalizations

A new chapter awaits πŸ‘€

The much-anticipated crypto trading platform Bakkt has announced that it's clients will be able to start depositing their funds in its qualified custodian physically delivered Bitcoin (BTC) futures, Bakkt Warehouse, starting 6 Sept.
 
Storage will open weeks before the scheduled 23 Sept launch of its platform for daily and monthly crypto futures in the U.S.. The platform will enable physical delivery of Bitcoin with end-to-end regulated markets and custody. πŸ‘
 
Operating under the Bakkt Trust Company, the Bakkt Warehouse was created using the same cyber and physical security protections as the New York Stock Exchange (NYSE), which also is operated by Bakkt’s parent company, Intercontinental Exchange (ICE). 

Adoption drivers πŸ˜„

Venezuelan pharmacy franchise, Farmarket, is piloting a Dash (DASH)-enabled point-of-sale system and will now accept DASH payments through an integration with Panda Exchange’s proprietary payments system. This payment ramp will be rolled out to 22 pharmacy locations over the next 2 quarters. πŸ‘
According to Panda Exchange partner, Robert Mozo, Dash representatives will be providing on-site training for the opening 2 months of operations to onboard potential cryptocurrency users in the country. At the moment, ~4,900 merchants accept DASH globally, and about half are located in Venezuela alone.
According to the CEO of Dash Core Group, Ryan Taylor, Dash's partnership with Farmarket and Panda Exchange is "a substantial move toward a purchase driven economy" because not only will Venezuelans be able to pay with DASH, but also "their relatives in Colombia and elsewhere will be able to buy medicine from abroad and resolve health issues for their relatives and loved ones”. πŸ₯

Rising tide of interest πŸŒŠ

According to a recent study published by Coinbase, academic interest in crypto and blockchain is rising globally. Coinbase partnered with survey site Qriously to survey 735 students aged 16 and older. πŸ“
It was found that that there was a 6% uptick in student interest in crypto or blockchain coursework. Last year, 28% of respondents said they would be interested in such classes. Also this year, the number of university students that partook in a class doubled to 18%. ~70% of these classes are also not categorized under "computer-science", as they cover other disciplines in finance, economics, law or engineering. πŸ˜²
It was also discovered that 56% of the world’s top 50 universities (according to the U.S. News & World Report ranking) now have blockchain or crypto classes available. Last year, this figure was 42%πŸ™Œ

Blockchain term of the day πŸ€“- Brute Force Attack (BFA)

A method of trial-and-error, in which automated software generates and tries a large number of possible combinations in order to crack a code or key.

Thursday think tank πŸ§ 

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)!

Special announcement πŸ“’   - CoinMarketCap 'The Capital' Global Conference 

At The Capital, join in on the cutting-edge discussions around adoption and liquidity! Wait til you see our speakers' list! The crypto leaders and builders will share their perspectives on the state of crypto today, and chime in on their thoughts for where blockchain is headed! Best of all, the community gets to vote on the topics that matter to them, during our exclusive UNconference sessions! In these sessions, our speakers will touch on what YOU deem is important.

For a little Proof-of-Work, we're making your ticket to The Capital FREE! Simply click on "TICKETS", select "free" or "full" admission, answer the questions, and we will see you there! More details can be found here! Remember to start looking for flights/trains/buses ASAP!

Other news πŸ“°

  • According to Forbes, the Chicago Mercantile Exchange (CME) Group saw an average daily volume of $515 million for its Bitcoin (BTC) futures in May alone this year. πŸ€‘
  • Dubai-based fintech company, Wethaq, has partnered with enterprise software firm R3 to create a platform for issuing and trading sukuk securities based on R3’s Corda offering, to essentially build the next-generation financial architecture for Islamic capital markets. πŸ˜Š
  • French police have shut down a massive botnet used for Monero (XMR) cryptojacking. The virus, dubbed Retadup, infected ~850,000 computers in over 100 countries.  πŸ€―

Crypto calendar  πŸ“…

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
 

What's up in the markets

Bitcoin Dominance
Daily Top 10
Greatest Crypto Gainers
Greatest Crypto Loses
New on CoinMarketCap

Poll of the Day

How much do you agree with this statement: "I am keen on enrolling in an online course on crypto/ blockchain."
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Why or why not? Share with me in the polls! πŸ˜† 

What you said

"How much do you agree with this statement: "I believe that blockchain can help improve the current business I'm running/ company I am working in.""
The average vote was 8.1.
"Why or why not?"
 
Finding an immutable and non-reversable blockchain with customizable data is already available. These can only help to improve tracking, accounting, and reporting, while decreasing errors, and all can be done inexpensively. - Exactly. 
 
i have good feeling about the crypto :its new tech;lets people know about it;they will be in the future;where they most to be.thank you - Spread the word! Evangelize! The crypto space needs all the help it can get. πŸ—£οΈ
 
Because it will drop costs in many areas and improve traceability of the products. - Very true! πŸ˜„
 
Management adoption would be an issue. - Yeah despite the widely known benefits, it can still be a tough sell as it likely includes a complete overhaul on systems. πŸ˜“
 
Blockchain will for transparency and will prevent fraud - Yup!
 
Definitely yes. I work in the Petrochem industry where we have global suppliers / customers. The current payment and contract system is a nightmare to administer, extremely expensive and everything takes days / weeks to complete. Smart contracts and instant settlement will save so much time and money. I'm just so frustrated you can see the potential of this technology, its there now, it works, but yet it seems to be taking an absolute age to go mainstream. - Exactly! Why is it taking so darn long! And not only will it be able to help improve order and settlement, it would help with better supply chain management. πŸ‘
 
Because it is the future. I handle with artworks and the blockchain will also make big changes there in financing and fundraising. - Agree. There are already several projects working on disrupting the art industry w blockchain. 
 
if my company is able to accept crypto as payment it will benefit a lot. unfortunately due to local regulations we can't at present. hopefully if will be possible in coming times. - Am hoping so! πŸ™
 
I opportunities daily, but okay, i'm a blockchain nerd and strong believer that it the greatest technological advantage of our time. Since i learned about it about 8 years ago ive been teaching myself code with express purpose of using it to promote blockchain and the power it holds. the insurance sector and vehicle licencing are but 2 examples i have spotted. there are more. - Wow 8 years! You're like a grandpa/ grandma in the crypto community. I wonder if anything you hear/ see these days comes as a surprise. I would've imagined you've seen it all. πŸ€£
 
Thank you all for reading! Catch you back here again on tomorrow for your daily dose of crypto news! πŸ’™

See you again tomorrow!

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