“The opposite of bravery is not cowardice but conformity.”
– Robert Anthony
Welcome back! Tomorrow, CoinMarketCap will be hosting our first ever conference, 'The Capital'. The event will kick off at 19:55 ET. Good news, as we will have a live stream for you all so you won't miss out! #TheCapital 😄
Today in history (1994) Bill Gatesbought Leonardo da Vinci's "Codex" for $30,800,000. 💸
In today's newsletter, we will be covering crypto exchange IDEX claiming to have created an “infinite scaling solution” for the Ethereum network, the number of blockchain and crypto-related employment ads rising 26% from 2018–2019 and Tunisia becoming the first country to start moving its national currency to a blockchain platform.
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! 📚
Weekend rebound 🏀
Over the weekend, total market capitalization dipped to a low of ~$237.8 billion late Friday, before recovering early Monday to ~$246 billion where it currently remains. 24-hour volume registered on average ~$70 billion.
In similar fashion, BTC slipped to a weekend low of ~$8,780 late Friday before recovering to ~$9,040 where it currently remains. On the daily chart, the Friday dip caused BTC to fall below its 21-day EMA support line. It is currently testing its 50-day EMA support line, and RSI is at ~50. On the weekly chart, BTC is testing its 21-EMA support line. BTC continues to be trading within its lower highs and lower lows trading pattern it has been trading within since late June this year. 👀
Poll of the Day
How much do you agree with this statement: "Ethereum (ETH) developers are taking too long to find the solution for ETH 2.0"
In an email sent to crypto news outlet CoinTelegraph, decentralized crypto exchange IDEX (responsible for over 40% of all DEX transactions), claims to have created an “infinite scaling solution” for the Ethereum network dubbed "Optimized Optimistic Rollups (O2Rs)". 🤓
According to IDEX, O2Rs help reach block finality in 10 minutes, and is about 1,000 times faster than the Optimistic Rollups (ORs) developed by Ethereum scalability development organization Plasma Group that achieves block finality in 2 weeks.
Rollup solutions scale by performing off-chain computations and pushing the result to the network later. Both O2Rs and ORs ensure data legitimacy by having validators analyze the data published on-chain.
On the rise 📈
According to a recently released “Seen by Indeed” study, the number of blockchain and crypto-related employment ads in shares per million on the popular job listing site rose by 26% from 2018–2019, following a 4-year trend of 1,457% growth in the sector. 📈
It interesting to note that the top 5 employers listing blockchain jobs are Deloitte, IBM, Accenture, Cisco and Collins Aerospace respectively. The jobs posted mainly revolve around computer work, with software engineering, software architect, full-stack developer and front-end developer being the most common positions.
Indeed says it expects the number of jobs on offer to continue trending up through 2020, “even in the face of extreme price volatility and regulatory uncertainty of cryptocurrency.
Going digital 💸
According to Russian news agency Tass, Tunisia has become the first country to start moving its national currency to a blockchain platform. The Central Bank of Tunisia announced that the digitization of the Tunisian dinar, in the form of a Tunisia’s Central Bank Digital Currency (CBDC) known has "e-dinar", has started and that the paper-backed CBDC will be issued on the Russian ICO startup Universa's Blockchain. 💵
Universa will also reportedly receive a percentage of all transactions carried out with the “e-dinar”, while keeping the ledger visible to the country’s central bank.
According to Universa founder Alexander Borodich, the Tunisian CBDC cannot be considered a true cryptocurrency, and will be state-owned and backed by paper money. The blockchain will not only protect against counterfeiting but will also make issuance cheaper and more transparent as "each banknote is protected by cryptography like its paper counterpart has its own digital watermarks".
For those who are attending, we're ecstatic to meet so many of you located around the globe for the first time! To help you stay on top of your busy schedule while you're in Singapore, we've created an easy-to-access Google Maps guide where you can view all our ongoing happenings and parties next week!
Other news 📰
In a recent series of tweets, co-founder of Chinese crypto exchange BTCC, Bobby Lee, tweeted that he believes Bitcoin (BTC) will surpass the market cap of gold and could ultimately be worth more than $1 million. 🤑
During a recent interview with Forbes, Ethereum co-founder Joseph Lubin said that he hopes China’s Central Bank Digital Currency (CBDC) will allow for interoperability with public permissionless blockchains, including Ethereum, and that he would like to see more participation from China in the Ethereum ecosystem. 👌
Speaking at the recent World Blockchain Summit in Wuzhen, China on Friday, Tencent blockchain chief Yige Cai said that the SFC has given Tencent the green light for its virtual bank, and thus Tencent will assemble a team to support the blockchain-based banking platform. 🤝
Crypto calendar 📅
TBA - Justin Sun's lunch with Warren Buffett
What's up in the markets
Daily Top 10
Greatest Crypto Gainers
Greatest Crypto Loses
New on CoinMarketCap
What you said
"On a scale of 1-10, how excited are you for CoinMarketCap's "The Capital" Global Conference next week?""
The average vote was 6.1. 29.4% of y'all voted a '10'.
"Why do you say so?"
I am trying to learn about crypto and blockchain so maybe hearing about what goes on in the conference will help. – Due tune in to our live stream! It’ll be here! 👀
I’m excited about the Capital more than any other conference because of CoinMarketCap’s age and respect within the crypto community. Further, it’s got a different attitude than all the tech gatherings that so overwhelm me! For me, this is the most anticipated crypto conference ever! – Heh, can’t till you see what we have in store for y’all! 😉
Continuing education is key to get more people involved. – Yup!
best wishes guys.. bring good news.. – Thank you! 😄
Honeymoon is over for CCs. "Laws of physics" or economic realities behind bitcoin and other crypto currencies are finally being understood "more widely" by the marketplace - period. Major correction is eminent. – Haha we’ll see about that (:
I’m not going as I live in Australia. – Tune in for the live stream! 😄
It's very interesting – Hell yea! 💪
Cautiously Optimistic - Hmmm 🤔
Would have loved to go, but prior arrangements need my attention sadly. I will follow on twitter and via web from my corner of globe however. hopefully next event i will attend. – Yes, do tune in! And I’ll take your word for it for next year’s! 👍
Brain power is in short supply chain mode, we need a crypto called brain to illuminate the ..... - lol 😂
Thank you all for reading! Catch you back here again next tomorrow for your daily dose of crypto news! 💙