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Your daily newsletter for 26 September, 2019

Fleeting

“Success and failure are both part of life. Both are not permanent.”

– Shah Rukh Khan

Good morning and happy Thursday! Stretch a lil, take a sip from your morning cup of coffee, take a deep breath and let's get right into it! 😄

 

 

Today in history (1887), the Gramophone was patented by Emile Berliner. 🎶

 

 

In today's newsletter, we will be covering Neo (NEO) becoming .NET Foundation’s first blockchain member, Lloyds bank partnering with blockchain platform to streamline trade finance, and Facebook’s David Marcus advocating for blockchain-based payment networks.

 

 

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! 📚

Small wins 😊

 

Over the last 24 hours, total market capitalization bounced back a little from ~$217 billion to ~$222.4 billion, with most coins seeing gains in the ~1-5% range. 24-hour volume registered ~$63.4 billion.

 

BTC is currently trading at ~$8,465, up ~0.7% over yesterday. On the daily chart, RSI at ~23, indicative of strong bearish momentum. BTC is trading below its 100-day EMA line, and its 21-day EMA line has crossed to the downside of the 100-day EMA line. BTC is still trading below it's bottom Bollinger Band (-2 Standard Deviations below its SMA line). 👀

Total Market Capitalizations

First in line 🎉

 

Decentralized open source blockchain application platform Neo (NEO) has declared that itself to be Microsoft's .NET Foundation's first blockchain member. 😝

 

Neo will upgrade to Neo 3.0 in 2020's Q2. Erik Zhang, Neo's co-founder and main developer, claims that the update is key due to the lack of compatibility of Neo's "architectural improvements" with its existing blockchain. 

 

The improvements include less costly transactions, usage of smart contracts and a speedier blockchain.

Faster, better, stronger 🥊

 
 

One of U.K.'s Big 4 clearing banks, Lloyds Bank, has teamed up with blockchain platform Komgo to streamline and digitize the international trade process and "enable quicker international commodity trade finance". 

 

Komgo uses blockchain technology to optimize financing procedures, combat fraud and boost trade efficiencies. It is also backed by major bank and commodities investors like Shell and ABM Amro. 🏦

In favor! 🙋‍♂️

 
 

Head of Facebook's Calibra, David Marcus, has argued in favor of blockchain-based payment networks.

 

In a blog post, he emphasized on the faults of current payment systems like regional networks, where underlying infrastructure weakness meant limited efficiency and scope. 

 

According to Marcus, Libra's participants can perform almost real-time cross-border transfers at low cost without the need for liquidity pools of different currencies, and "in turn massively reduce costs" whilst "increasing innovation and access". 💧

Blockchain term of the day 🤓 - Cypherpunk

An activist who advocates for the mass adoption and use of strong cryptographic solutions and privacy-enhancing technologies to enact social and political progress.

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)!

Special announcement 📢 - CoinMarketCap 'The Capital' Global Conference

 

It's so awesome to hear that some of you have reserved your spot for The Capital! We're excited for you to join our first face-to-face crypto event dedicated to the CMC community.

Here are 4 reasons you should attend The Capital!

  1. The things you'll learn Listen, discuss, ponder, and repeat. Knowledge is power!

  2. The people you'll meet - Leave Singapore with a wider social network - one that spans across oceans

  3. The sights you'll see - Not to brag, but our venue is pretty dope! Singapore also boasts some iconic architecture that makes for quality photos

  4. The hope and motivation you'll gain

Be encouraged by people who are running their hardest to see the crypto dream become a reality. Who knows? You might end up joining them, partnering up, or starting your own thing!

If you do happen to make it out, shoot me a message to let me know you're there! Hate going to a conference alone? Invite your friends! Tickets are on us.

Other news 📰

 
  • EOS parent organization Block.one is establishing new headquarters for its U.S. operations branch in Washington D.C. 🗽

  • Binance is ready to make its first strategic investment in China since its departure in 2017. 🇨🇳

  • Automobile maker Daimler has made its first transaction on Marco Polo, the blockchain-based trade finance network. 🚗

Crypto calendar  📅

23 Sept   - ICE's Bakkt Bitcoin Daily Futures Contract launch

 

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)

 

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 stay current with all the coins I invest in".

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

What you said

"On a scale of 1-10 (10 being most surprised), how surprised were you at the massive crypto market downswing yesterday?"

 

The average vote was 6.1.

"How do you think the newsletter can be improved? What additional content would you like to see?"

 

based on charts so it's expected – There def was some overhead resistance prior. 👀

 

Not a big enough of a move – It was the biggest move in 2019 😂

 

Its my first time observing that. – Welcome to the land of crypto, where the swings are large and the volatility is abundant! 😄

 

Descending triangle into Bakkt launch. Big Institutions like to enter an investment at bargain basement prices, I wouldn't be surprised if BCT drops even further before a sharp uptrend. – The underwhelming opening day’s volume of Bakkt might’ve triggered it 🤔

 

i am surprised.. i was looking at 11k by this weekend.. but its Bitcoin. i have seen BTC recovering very fast. Holders will always be happy no matter what the price. – Have faith and HODL! 👍

 

Pretty surprising, haven't seen this many days of price falls in a long time. (Also, thank you for the thorough reply to my survey response yesterday!) – Hey, no problem! Yeah, well the bull run throughout the first half of 2019 was pretty surreal too. It came outta nowhere. 😅

 

I am always surprised when it tanks, excited as well to get more at the dip. – Same here. Love dips. 😄

 

Hopefully that was the last planned harvest of crypto this year. The fall and winter will most likely produce record returns. – Some TA analyses are saying that we will fall back to the $6,000 range before in a 4th wave before heading back up to break new highs.

 

Just few days the BTC market was looking stable with no threat news. Suddenly the USA stock crash coincide with its down trading. Never mind, it would jack up again soon. – It came outta nowhere!

 

Because Bakkt was supposed to be a good thing. – Underwhelming, it’s like having a shitty meal at a well-reviewed restaurant. 😂

 

It happened overnight so I woke up feeling like a bloodbath happened. but just the alts i use to trade that hurt a lot, my Daily Cost Average is still way up. Funny thing is, i wanted to move all my exchange coins into gold yesterday, and forgot. - Why not into USDT? 🤔

 

Because it was so hyped up in last 3-6 months. So many enthusiasts, including my well-to-do son-in-law were exclaiming "watch out for September 23rd! We're going to make millions!" – Hahaha possibly! I think it had a great deal to do with the low Bakkt volume. 🤔

 

Markets are markets and they'll see saw whatever happens. The Crypto market is far more volatile than the older traditional financial markets as it meanders through the growth minefield that all fledgling markets navigate and will continue to do so over the coming few years – Agree. The space has to navigate through this.

 

I felt that a quick correction was overdue. – Yup!

 

Not surprised at all, don't think there is a thing that can surprise me in the crypto space anymore 😉 – True, ya old gun. 😉

Thank you all for reading! Catch you back here again tomorrow for your daily dose of crypto news! 💙

See you again tomorrow!

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