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Your daily newsletter for 27 September, 2019

Choose the unknown

“Two roads diverged in a wood and I - I took the one less traveled by, and that has made all the difference.” – Robert Frost

TGIF! Enjoy your well deserved weekend, you hardworking CoinMarketCap folks! It's the last weekend of September, so go a tad bit more crazy this weekend! 😄

 

 

Today in history (1908), the first Ford Model T automobile departed from the Piquette Plant in Detroit, Michigan. 🚗 And here we are a hundred years later, about to roll out fully autonomous cars.

 

 

In today's newsletter, we will be covering MediConnect completing its PoC to track medication through the supply chain, Unilever saying its blockchain ad-buying pilot saved the company money and the Mall of America to showcase Winklevoss-backed crypto payments.

 

 

Today, we will also be covering Chainlink (LINK) 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!

 

 

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! 📚

It's gonna be a grind back up 😔

 

Over the last 24 hours, total market capitalization dropped back down from ~$222.4 billion to ~$213.7 billion, with most coins seeing losses in the ~2-6% range. 24-hour volume registered ~$67.8 billion. 📉

 

BTC is currently trading at ~$8,090, down ~4.5% over yesterday. Earlier in the morning, BTC even dropped below the $8,000 mark and hit a daily low of ~$7,910 - a level it has not seen since early June this year. On the daily chart, RSI at ~19, the lowest level it's been at since end Nov 2018! BTC continues to be trading below its 100-day EMA line, and below it's bottom Bollinger Band (-2 Standard Deviations below its SMA line). 👀

Total Market Capitalizations

Connecting healthcare 🚑

 

Blockchain startup MediConnect has finished the progress for its Proof-of-Concept (PoC) to trace medications via the supply chain from manufacturers to end-users. 

 

It has also started consolidating online pharmacy UK Meds' procedures to to its blockchain-based platform, and plans to finish it in 2020. 

 

MediConnect has also worked with the Ugandan government early this year to track counterfeit drugs in the country. 🎯

 

Blockchain technology's potential in the healthcare and supply chain areas is recognized by other governments and institutions, like that of the United Arab Emirates (UAE).

Money saved 🤑

 
 

According to a recent report, Unilever executive vice-president for global media Luis Di Como revealed to advertisement news channel Campaign that blockchain has helped the business save money. 

 

It's blockchain ad-buying platform seemingly paves the way for more efficient ad reconciliation with advertisers making sure that contracted agreements are really delivered. 📃

 

The 18-month-old project is a collaboration between the consumer packaged goods giant and computing mammoth IBM, with blockchain saving the former an ~2-3%. 

 

Unilever is set to scale the blockchain program and work with as software company Mediaocean to create a consortium.

Revolutionizing retail 🛍️

 
 
America's biggest mall, the Mall of America, is due to exhibit Winklevoss-backed cryptocurrency payments. 
 
 

Startup Flexa will be an advisory participant in a new demonstration store, Modern Retail Collective, at the mall. The store will display new brands and technologies that improve the retail experience, and show "the legitimacy of how this stuff works". 👍

 

The project aims to help retailers know which new technologies actually add value with modern data and analytics. 

 

Flexa's Spalding stated that it will make a huge mark on the store, and its payment app SPEDN will be one payment option on offer at every retailer in the shop.

Blockchain term of the day 🤓 - Decentralized Apps (dApps)

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.

Crypto deep dive: Chainlink

  • Cryptocurrency: LINK 
  • Market Capitalization Rank: 18th (~$569 million)
  • Consensus: Proof of Work (PoW)
  • Notable Supporters: Brian Lio (Smith + Crown CEO), Jake Brukhman (former Triton Research CTO), Evan Cheng (one creator of LLVM), and Ari Juels (Co-director of IC3)
 

The gist of it ⚙️

  • Chainlink is a blockchain-based middleware that provides a decentralized oracle service and acts as a bridge between cryptocurrency smart contracts and off-chain resources like data feeds, web APIs, and traditional bank account payments.
  • This of Chainlink as an application or services that interfaces blockchains with the real world. 
 

Why people love it 😘

  • Chainlink has a partnership with SWIFT, the largest global provider for secure financial messaging (transactions). This partnership could grant them network access to a plethora of large banks and high profile institutions around the world. 
  • Chainlink is tackling a huge stumbling block in blockchain known as interoperability. If successful, there is significant upside due to the its large addressable market. 
  • From a price perspective, LINK has been pretty resilient in this bearish market and has been sneakily crawling its way up the rankings in the past few months. 
 

Why people doubt it 🤔

  • A huge selling point of Chainlink is its partnership with SWIFT. This could lead to an over reliance on it which, could have very adverse effects on its network/ existing partners should the partnership dissolve in the future. 
  • Chainlink's success is largely dependent on attracting institutions to utilize its technology, which means strong networking initiatives are required. 
  • Some argue that Chainlink does not have sufficient marketing initiatives. 

Other news 📰

 
  • Cryptocurrency exchange Bittrex is using Chainanalysis' know your transaction (KYT) function to spot high-risk transactions. 🔧

  • Alipay operator Ant Financial has teamed up with Monsanto's owner, pharmaceutical giant Bayer Crop Science, to create a blockchain answer for the food and agricultural industry. 🌾

  • New York residents can now access Stellar (XLM) and Chainlink (LINK) on Coinbase. 🔗

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)

 

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 love dips in crypto because I get to acquire more crypto for cheap".

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

What you said

"How much do you agree with this statement: "I stay current with all the coins I invest in.""

 

The average vote was 7.7.

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

 

 

I allocate a reasonable as opposed to an excessive amount of time to keeping up to date. – Sounds like you’ve got it all balanced out. Good job! 👍

 

I buy and sell every day so I am always in contact with my coins. – Ohh you day trader, you! 😉

 

I try to at least. I've pared down my bag lately so it's a little easier. – A lot of people have been doing that - allocating a larger percentage of their portfolio in BTC in this downturn. 😄

 

And from this I’ve learned just play with the big dogs, maybe in and out of 💩 coins, but hodl bitcoin – BTC is king. It will be tough to beat its adoption as a digital currency, just like how it’ll be tough to beat ETH as a platform token. 🤔

 

How else are you gonna know when to panic with each fluctuation🤑😖 – Lolllll true 😂

 

Hugely important to keep track of your investments and utilise your profits wisely – Def. 👍

 

Only btc and eth...rest of the coins dont know , not able to follow. – Argh, can’t wait for ETH 2.0 🙏

 

Stay and forget strategy could mean lots and lots and lots of money left on the table – Very true. Gotta know what your babies are up to. 😉

 

I love crypto and blockchain. I try to learn something new every day regarding this space. – That’s awesome! It’s going to pay off for sure. 😄

 

Definitely with my top three but I must admit, not as well with the rest. – Hahaha, you just gotta punt sometimes. 🤑

 

YA SNOOZE YA LOOSE - PREACH 🗣️

 

I try, but seem to have a lot to do being a single parent of a 7 year old and trying to make ends meat – Ahh that must be tough! Kudos to you for juggling everything! Huge respect 👍

 

i do try to stay current with good coins i have. there are some coins which i bought for flip, i don't follow them much.. coins i follow - GRIN, BEAM, ETHEREUM, ZILLIQA, COSMOS, CARDANO & few other blockchains. i hold these since some time & do top up sometimes. – Decent picks! Some of these coins are in my portfolio too! 😉

 

Knowledge is power & helps manage RISK & stop losses – Yeah it really is…

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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Take the road less travelled~ 🚶‍♂️

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