“Change is the law of life. And those who look only to the past or present are certain to miss the future.”
– John F. Kennedy
Day 4 of the week! Stay on that grind everybody! 💪
Today in history (1893), New Zealand gave all its women the right to vote, and was the first country to do so. 👍
In today's newsletter, we will be covering Binance to soon be adding fiat-to-crypto OTC trading, Turkey announcing plans for national blockchain infrastructure and and Indian car manufacturer Tata Motors calling for automotive blockchain tech.
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. 💭 Happy reading! 📚
Well that was short-lived 😂
Over the last 24 hours, total market capitalization retraced from ~$271 billion to ~$264 billion, with most coins seeing losses in the ~1-5% range. BTC dominance slipped further from ~67.6% to ~67.4%. 24-hour volume registered ~$67 billion.
BTC is currently back trading below the $10,000 mark, and is at ~$9,925, down ~3% over yesterday. On the daily chart, BTC has broken below its 50-EMA line, and is currently testing the 100-day EMA line. RSI has dropped to ~39, indicative of building bearish momentum. 👀
As one door closes, another opens 🚪
Co-founder of cryptocurrency exchange Binance He Yi revealed that Binance will be adding fiat-to-crypto over-the-counter (OTC) trading to its platform in 1 month.
This addition offers users fiat currency gateways for Chinese yuan, and will be part of Binance's strategy to ultimately compete in the Chinese market. It joins an upcoming payment service to let users from 170 countries purchase cryptocurrency assets with fiat currencies on the exchange. 💱
The 2017 ban on initial coin offerings caused Chinese authorities to disallow the direct link of exchanges to banks and fiat deposits, and so fiat-to-crypto trading has become a key aspect for China-based crypto traders.
Blockchain takes priority💯
During its Strategy 2023 presentation, Turkey revealed plans to develop a national blockchain framework to use distributed ledger technology (DLT) in public administration. 🗯️
The document, which was also the first of ministry-level to mention "Bitcoin (BTC)" as reference, highlighted that DLT and blockchain will take precedence for the upcoming year. A new open-source platform for blockchain will be created in Turkey, as well as a regulatory sandbox for blockchain applications.
Turkish institutions have been opening up to blockchain technology in different areas, including establishing the Istanbul Blockchain and Innovation Centre for the research and development of blockchain technologies. 🏗️
Indian automobile production giant Tata Motors intends to assimilate blockchain solutions into its internal operations.
Part of a new program for startups, dubbed the "Tata Motors Automobility Collaboration Network 2.0," the program aims to produce different industry-related products like blockchain-enabled solutions.
Tata Motors is not the first to embrace blockchain - global leaders like Mercedes-Benz and Chinese automotive group Geely owned-Volvo Cars have also adopted blockchain-related practices and platforms. 🙋♀️
A property that defines the inability to be changed, especially over time.
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)!
You already know you've got a ticket on us if you can make your way to Victoria Theatre in Singapore! For the guys and gals looking for a little more than free, we've got you covered.
Check out our full-admission ticket, which includes free-flowing beverages so you stay #hydrated all day, fancy nibbles in the AM and PM, gourmet lunch, and exclusive access to The Capital's VIP after-party!
Also, here are all our wonderful media partners who will be at The Capital to amplify and support the inaugural event. It's going to be amaaaazing!
"How much do you agree with this statement: "I enjoy reading crypto news more than traditional finance news.""
The average vote was 8.7.
"Why or why not?"
Because it's value is same or similar everywhere.Crypto start to build a financial justice for all nations. - Decentralization 4TW! 💪
More interesting – More excitinggg 😄
It certainly has a younger energy and is more forward-thinking to read news on crypto than traditional financial news sources. It's partially what drew me to this field more than Dow Jones' boring ass, heh. – Hahaha yeah. Crypto moves the needle! 🤖
Very educational – Def. Crypto involves many disciplines like economics, computer science, cryptography, sociology etc. 🤓
Futuristic buzz – It is buzzing alright!
crypto news is refreshing and upbeat – Agree. It’s a breath of fresh air.
It is breif and to the point, I also love the interaction with my peers. – Oh I figured you were talking about this newsletter. Thank you for your kind words! 🙏
I keep up with the financial news after 16 years as a RIA, but the crypto world is MUCH more interesting and in my opinion, valuable. – That’s a huge compliment coming from someone like you, who’s had so much experience in the traditional finance world! 😄
Crypto news has less devils being discussed/featured. – Lmaooo. There are devils everywhere! 👀
It's where my money is at – Makes sense.
It is THE change I've been waiting for to replace the old financial system. Any news about it are interesting. – It’s great how we’re all rooting for it, and how the army just keeps growing. 💪
It is like a drug, i am addicted :)!! – The crypto bug has bit ya!
Cryptocurrency is the future. I enjoy learning more about all the different cryptocurrencies and it will be interesting to see which ones survive and are used. – Yeah, got my eyes peeled on that one.
Not completely, still like to see whats going on in traditional markets – Both are important too!
new bae – 4eva bae ❤️
i do enjoy reading crypto news... more on the projects i have bought & also new stuff happening.. also recently i have noticed that main stream technology & financial websites are covering more & more crypto & blockchain news. – Yeah, its awesome. The shift is finally happening. Exciting stuff!
Thank you all for reading! Catch you back here again tomorrow for your daily dose of crypto news! 💙