The world’s biggest mining farm to be built in 2020

Market Summary - Bearish 🐻

Total Market Cap: ~$222.1 billion (-1.5%)                     BTC Price: ~$8,100 (-1.7%)

24-Hour Volume: ~$72.6 billion (-1.6%)                        BTC Dominance: ~65.8% (-0.3%)

Notable movers: 0x (ZRX) (~10%), Augur (REP) (~16.6%)

New coins: -

Over the past 24 hours, total market capitalization dropped again for the 4th consecutive day from ~$225.5 billion to ~$221.2 billion, with most coins either seeing gains or losses in the ~1-3% range. 

BTC is currently trading at ~$8,100, down ~1.7% over yesterday. On the daily chart, BTC is still trading below its 21-, 50- and 100-day EMA support lines, and RSI is at ~35 (has been steadily dropping over the past month), indicative of growing bearish momentum. On the weekly chart, BTC is currently testing its 50-EMA support line - a level it has not breached below since April this year. 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: "I am losing interest in the crypto space."

Why do you say so? Share with me in the polls!  

Plotting 😉

German Bitcoin (BTC) mining company Northern Bitcoin has signed a merger agreement with U.S.-based competitor Whinstone to together create the world's biggest mining farm in 2020.

Founded in 2018, Northern Bitcoin is a stock-traded business that focuses on sustainable BTC mining and has a mining farm that runs on renewable energy situated in Norway. ⚡

Whinstone has already began construction on the facility that is expected to have a capacity of 1 gigawatt on an area that spans over 100 acres in Texas, and will purportedly become the biggest data centre in North America. The data center will also allow for the acceleration of video rendering and artificial intelligence applications.

The first construction phase is planned to see the facility be equipped with 300 megawatts and completed in Q1 2020, and the last phase in the Q4 2020.

Game on 🎮

Big backers 😎

Japanese financial services company, Tokai Tokyo, has become the most recent big Asian financial institution to support tokenized securities platform iSTOX with a recent $5 million injection after its Series A funding last month. That recent funding round was also subscribed to by one of the biggest Thai investment banks, Kiatnakin Phatra Financial Group (KKP). 

The newly acquired funds will go towards building the user base of qualified investors, the issuance of tokens based on stocks, bonds and other structured products, as well as expansion in Asia. 🇯🇵

The partnership creates a "strategic gateway" for to Japan via the conglomerate's robust investor network in the country that dates as far back as to 1908. iSTOX expects to be the first fully regulated platform to offer security tokens throughout the world, and intends to reduce transaction costs by getting rid of middlemen and consolidating settlement processes via tokenization. 

Other news 📰

• Blockchain business HashCash Consultants is collaborating with a group of international car, mining and battery producers to create a blockchain-based supply chain network that tracks minerals. 💨

• Automobili Lamborghini is attempting to use an enterprise blockchain platform to test the originality of the cars sold on the secondary market. 🚘

• Michael Novogratz's cryptocurrency merchant bank Galaxy Digital is starting 2 Bitcoin (BTC) funds to bring people who have mostly stayed out of cryptocurrency investing into the cryptocurrency markets, and seeks to bring “the wealth of America”. 🍻

Blockchain term of the day 🤓 - Dust transactions

Minuscule transactions that flood and slow the network, usually deliberately created by people looking to disrupt it.

Crypto calendar  📅

TBA         - Justin Sun's lunch with Warren Buffett

What you said

"How much do you agree with this statement: "I believe in private blockchains more than I do in public blockchains.""

The average vote was 4. 

"Why do you say so?"

See you again tomorrow!

Persevere 💪