“Correction does much, but encouragement does more.”
– Johann Wolfgang von Goethe
Ello CoinMarketCap-ers! We've got some exciting news today!!! 😄
Today in history (1888), Thomas Edison patented the Optical Phonograph, or the first movie. 🎥
We will be covering a Samsung SDS piloting blockchain-based medical insurance network, a luxury automobile manufacturer accepting Bitcoin (BTC) for vehicle sales and Ripple partnering with world’s 3rd-largest fintech firm Finastra. Today, we also have our weekly 'Thursday think tank' section, courtesy of our friends over at Flipside Crypto!
We also have a special announcement about a new CoinMarketCap product, 'Interest'! So be sure to check that out below too!
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! 📚
More downward pressure 🐻
Over the last 24 hours, total market capitalization slid back further from ~$221.7 billion to ~$217.1 billion, with most coins seeing losses in the ~2-5% range. Notable mover of the day is Monero (XMR), currently up ~7.5%. 24-hour volume registered ~$57 billion.
BTC is currently trading at ~$8,010, down ~2.5% over yesterday. On the daily chart, BTC continues to be trading below its 100-day EMA line. RSI is at ~35, indicative of moderate bearish momentum. On the weekly chart, BTC is currently testing its 50-EMA support line. At the moment, it is more likely that we will see more downward price movement in the coming weeks. 👀
Samsung-owned IT solution developer Samsung SDS will be launching a blockchain-based medical claims processing system this month. 📱
The system seeks to simplify a currently complicated process of claims processing by linking hospitals, pharmacies, insurers and other companies in the industry to form a "blockchain healthcare network", and use the blockchain to share personal medical details.
The network is expected to reduce the workload at medical institutions, lower costs related to processing medical claims and to reduce waiting times for claims processing by up to 70%.
New payment method 💡
California-based luxury electric car maker, Karma Automotive, has started accepting Bitcoin (BTC) for payment at one of its branches in Newport Beach.
Customers can use BTC to pay for new vehicle buys and other similar services. 🚙
Karma CEO Lance Zhou, said that the company is opening its platform to act as a testing ground to convert "theoretical blockchain applications to practical use". Good guy Lance!
Mutually beneficial 🙌
Finastra, the 3rd-largest financial services technology business worldwide, has teamed up with Ripple to allow over its customers access to the blockchain network RippleNet. In turn, over 200 of Ripple's current clients will have access to Finastra's banking network.
According to a Fintech Times report, "Finastra customers and existing RippleNet partners will be able to transact cross-border with end-to-end tracking and transparent oversight of fees, delivery time and status". 🗾
According to Finastra's Senior Vice President Riteesh Singh, the partnership displays the company's trust that the future of finance is "open" . He also believes that the use of blockchain technology would be of particular benefit for clients in jurisdictions where the costs of corresponding banking are high.
Also known as Tumbler, it is a service to improve the privacy and anonymity of cryptocurrency transactions by mixing potentially identifiable or “tainted” cryptocurrencies with other unrelated transactions, making it harder to track what the cryptocurrency was used for and who it belongs to.
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 📢 - "Interest" by CoinMarketCap
Ever wondered what you could do with your crypto besides HODL? Well, there’s quite a fair bit you can do with it. 🤔
Today, we are proud to present to you “Interest”, a one-stop resource where you can find out where to save, to earn, to borrow and to margin-trade various cryptoassets! 💱
“Interest” will be a place where you can view the various lending and borrowing platforms (such as wallets, exchanges and DeFi platforms) on the market, along with their annualized interest rates, minimum deposit duration, and all that good stuff!
You’ve worked hard for your bags of crypto, so now it’s time to let it work for you! 😉
In less than a month, join 1500+ attendees, 70+ speakers and 15 sponsors at the gorgeous Victoria Theatre for a one-of-a-kind crypto experience.
We have just a few FULL admission tickets remaining. $199 gets you full access to The Capital, food & beverages throughout the conference, fine-dining lunch provided by Sinfonia, and a ticket to our VIP after-party!
NBA basketball team Sacramento Kings has teamed up with the maker of Ethereum (ETH)-based Kaiju toys, CryptoKaiju, to release crypto-collectibles. 🏀
In a recent interview with Yahoo Finance, the head of Facebook's Calibra David Marcus argued that the recent withdrawal of 7 companies from the Libra Association does not put the cryptocurrency project in danger. ⚡
Bermuda is the first government to accept global financial services company Circle's USD Coin (USDC) stablecoin for tax payments. 🌏
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Poll of the Day
On a scale of 1-10 (10 being most love), how much do you love CoinMarketCap's new "Interest" product?