“A lot of hard work is hidden behind nice things.”
– Ralph Lauren
Over the last 24 hours, total market capitalization dipped back down again from ~$221.5 billion to ~$218.5 billion, with most coins seeing either gains or losses in the ~1-3% range. Seems like the market is seeming some consolidation at these levels, following the large market downturn we saw late last month. 24-hour volume registered ~$49.8 billion, pretty much at average levels for the week.
BTC is currently trading at ~$8,190, down ~1.15% over yesterday. More consolidation going on at these levels for BTC as well. It will be interesting to see if BTC can hold this $8,000 range, a level it faced some difficulty breaking to the upside of in May - June this year. Breaking down from this level could see BTC easily falling down to the $3,000 levels. On the daily chart, the 50-day EMA line has crossed to the downside of the 100-day EMA line, and RSI is at ~29 (indicative of strong bearish momentum).
MakerDAO's bounty program had a "critical" bug fixed right before its upcoming Multi-Collateral Dai (MCD) upgrade that could have resulted in over 10% of the system's combined collateral being put at risk.
The bug was found by HackerOne user "lucash-dev" during the testing phase, and he received a $50,000 reward for identifying it.
It would have allowed an attacker to steal all collateral placed in MCD during the liquidation stage, "possibly within a single transaction".
MakerDAO engineering head Wouter Kampmann assured that bug tracking events like this were "routine", and was how they "make sure that it's absolutely as secure as possible before you [they] launch it".
The Vanguard Group has been piloting a 2-month-old blockchain-enabled platform that will make way for asset managers to trade currencies and circumvent big investment banks simultaneously.
Entering the global currency market means that Vanguard could disrupt some leading investment banks that have dominated the sector for decades.
According to a spokesperson for the investment group, Vanguard is “currently piloting a project focused on improving the efficiency and reducing the risk of FX hedging."
It's only the beginning
Stone Ridge, an investment management business, is attempting to register a new Bitcoin (BTC) futures fund with the U.S. Securities and Exchange Commission (SEC).
The new fund, NYDIG Bitcoin Strategy Fund, is “a non-diversified, closed-end management investment company that continuously offers its shares".
The fund will only invest in cash-settled BTC futures that are traded on SEC-registered commodity exchanges, and aims to ultimately achieve capital appreciation.
Other industry players have also been surveying BTC futures, like Bakkt's physically-settled futures trading and Binance's 2 new futures testnet platforms.
Blockchain term of the day - Tokens vs. Coins
Crypto deep dive: Stratis
Market Capitalization Rank: 96th (~$33.6 million)
Consensus: Proof-of-Stake (PoS)
What it’s about
It is a blockchain-as-a-service provider that supports C# and .NET development.
Through the platform, enterprises are able to build their own private blockchains, which can be integrated with the main Stratis blockchain.
Why people love it
Stratis is a partner of Microsoft, of which Stratis is part of the Azure cloud program that seeks to avail full functionality for companies wanting to develop blockchain applications.
It is easy to develop applications on the Stratis blockchain as it uses the C# coding language.
Stratis' Private Chains (side chains) grant developers the ability to make tailored changes according to their needs while keeping the parent blockchain intact enough to provide users the confidence of security.
Why people doubt it
Adoption on the Stratis platform has been slow. The download count on their repository is not high.
Stratis faces stiff competition in the blockchain-as-a-service provider space, such as Ethereum (ETH), EOS (EOS), VeChain (VET) and Ardor (ARDR).
So far, The Capital has 929 ticket reservations from North & South America, Africa, Oceana, Europe, and Asia!
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Police of Indian city Pune have requested a court directive to move frozen cryptocurrency seized from a Bitcoin (BTC) ponzi scheme.
VC Andreessen Horowitz has started its Crypto Startup School focusing on startups planning to produce cryptocurrency-related initiatives.
Crypto exchange Binance has teamed up with Coinfirm, a cryptocurrency analytics startup, to bolster its anti-money laundering (AML) compliance.
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
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