"Character builds slowly, but it can be torn down with incredible swiftness"
- Faith Baldwin
Happy Tuesday, CMC fellas! Time to see what's up in the crypto-sphere! 🧐
Today in history (1945), Mike the Headless Chicken was decapitated in Fruita, Colorado. He continued to survive for another 18 months. 🤯
In today's newsletter, we will be covering Tether launching its Chinese yuan-backed stablecoin, blockchain technologyinthehealthcare market expected to surpass $1.6 billion by 2025and LG looking to launch its own blockchain smartphone.
Also, in our 'Tutorial Tuesday' section, we have another well put together educational video by crypto educational content provider, Goodbit!
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! 📚
Over the past 24 hours, total market capitalization dropped from ~$267.5 billion to ~$265.4 billion, with 24-hour volume registering ~$54.5 billion.
BTC is currently trading at ~$10,290, up ~0.1% over yesterday. On the daily chart, BTC is testing its 50-day EMA line, and RSI is at ~48. BTC dominance is back below the 70% mark, currently at ~69.8%. 👀
And another one 👆
Tether has launched its Chinese yuan-backed stablecoin, CNH₮, which will run on top of the ethereum blockchain (ERC-20). Tether claims that CNH₮ will be collateralized with yuan stored offshore. 🤔
According to Tether, “CNH₮ represents a further expansion of Tether’s capabilities in facilitating the digital use of traditional currencies, such as US dollar (USDT) and Euro (EURT)”.
Tether has also recently revealed a smart contract address for CNH₮.
Burgeoning sector 🍄
According to a report by global market research and consulting firm, Global Market Insights, the value of the blockchain technology in the healthcare market is expected to surpass $1.6 billion by 2025, at a 65.7% compound annual growth rate. 😲
This is due to a number of factors such as the implementation of government initiatives and increasing investment in the field. According to the report, “growing awareness about implementation of blockchain technology and government initiative for data standardization and operational scalability constraint in data management will spur industry growth in upcoming years.”
Wanting to be different 😄
According to Korean media outlet Chosun, consumer electronics giant LG may be looking to launch its own blockchain smartphone and "likely to respond to Samsung’s innovation initiative (Samsung's blockchain phone)”.
According to the report, LG is facing difficulty separating a potential blockchain phone from Samsung’s previous releases and "has been struggling to apply blockchain to smartphones without any dissimilarity”. For instance, LG responded with a dual-screen when Samsung Galaxy came out with a foldable phone. 😜
The report also claims that LG has completed market research on dapps and blockchain providers.
The Capital presents its speaker line-up! We're shining the light on this group of trailblazers, technologists, analysts, and business builders in crypto and blockchain, who are coming together on November 12-13 in Singapore for a special occasion! They'll take the stage to contribute their best thoughts and lessons learned, to drive the conversations on liquidity and adoption forward!
We know the brilliant discussions that will ensue among you, the attendees are also not to be missed! Check out The Capital speakers and their bios! Which speakers do you already know, and who are your favorites? #TheCapital #ComingSoon #Singapore #FlightBooked
Other news 📰
According to an official announcement, Bitcoin (BTC) deposited at the Bakkt Warehouse is protected by a $125 million insurance policy. 🛡️
Decentralized Brave browser has outranked Chrome in Japan's Google Play Rankings.😲
Venture capitalist Tim Draper has joined the board of MakeSense Labs, the provider of a messaging app built on the EOS blockchain. 🤝
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)
"How much do you agree with this statement: "My faith in Bitcoin (BTC) has not wavered one bit since 2018.""
The average vote was 8.2.
"Why or why not?"
Bitcoin is a certainty. Just a matter of when. - Hopefully others see it the same way as we do. 🙏
Nor will it; 'tis the future, let it be written!- Hear hear! 🗣️
My faith is actually up a lot. It's great to see that transaction fees finally came back down from the crazy Jan 2018 highs, and the hashrate is way up since then! - Hashrate is growing, which is a good sign! 👍
100%! Buy the way - what's the alternative - go back to trusting worthless fiat? - True. Gold is good too.
im not going 100% as in reality many governments worldwide are developing their own cryptocurrencies pegged to their own dollars. - Hahaha yeah, if people would just look harder, they would find Bitcoin as the solution! 😄
i would say not wavered a bit since i learned about BITCOIN. in the initial days i did spend sometime to read all about bitcoin & crypto, once i was convinced i bought a small amount of bitcoin to experiment with wallets, transfer etc. and there has never been any doubt since then. most important initial tool i found was coinmarketcap, trezor, myetherwallet, etherscan, blockchaininfo... - Heh, the crypto bug bit ya! Glad to have you on this journey with us. Those are all great sites (:
The best minds of this generation are working hard to improve it !- No doubt. Im confident this space is gonna blow up. 😄
Bitcoin is a new kind of monetary relations of values that will inevitably be accepted by the whole world. This progress is a new stage in the development of society. - I believe its only a matter of time before people accept it. It truly makes logical sense to anyone who takes the time to delve into it.
Brand recognition and first out of the gate go a long way, especially for the novice consumer. - That’s true.
i believe in the power of positive thinking. my egg lady has 25 hens laying eggs. there is no rooster. one hen starts sitting on a dozen eggs. she wants some babies. they pulled her off she jumped back on they tried again and she would bite them. even a stick couldnt get her off. in desperation she went down to the farmers store and purchased 12 new chicks. she put those under the hen one night and she was happy now and came out into the yard with her babies. that hen turned the impossible into the possible . believe and never give up!!! - Story of the year. 😂 Lmao.
BTC makes sense, from an economical perspective, it makes sense from a technological perspective. I won't lie, I had days where I considered selling it all, but my faith in what it is and represents is way stronger. In a world as crazy as ours, I can't see a future without BTC. - Me too. It’s one of the few things I trust in this crazy world.
History will repeat itself 12 - 18 months after next years BTC halving. - So looking forward to it!
I believe the charts speak for themselves. - #Truth
Thank you all for reading! Catch you back here again tomorrow for your daily dose of crypto news! 💙