Your daily newsletter for 19 September, 2019 |
“Change is the law of life. And those who look only to the past or present are certain to miss the future.” – John F. Kennedy |
Well that was short-lived Over the last 24 hours, total market capitalization retraced from ~$271 billion to ~$264 billion, with most coins seeing losses in the ~1-5% range. BTC dominance slipped further from ~67.6% to ~67.4%. 24-hour volume registered ~$67 billion. BTC is currently back trading below the $10,000 mark, and is at ~$9,925, down ~3% over yesterday. On the daily chart, BTC has broken below its 50-EMA line, and is currently testing the 100-day EMA line. RSI has dropped to ~39, indicative of building bearish momentum. |
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As one door closes, another opens Co-founder of cryptocurrency exchange Binance He Yi revealed that Binance will be adding fiat-to-crypto over-the-counter (OTC) trading to its platform in 1 month. This addition offers users fiat currency gateways for Chinese yuan, and will be part of Binance's strategy to ultimately compete in the Chinese market. It joins an upcoming payment service to let users from 170 countries purchase cryptocurrency assets with fiat currencies on the exchange. The 2017 ban on initial coin offerings caused Chinese authorities to disallow the direct link of exchanges to banks and fiat deposits, and so fiat-to-crypto trading has become a key aspect for China-based crypto traders. |
Blockchain takes priority During its Strategy 2023 presentation, Turkey revealed plans to develop a national blockchain framework to use distributed ledger technology (DLT) in public administration. The document, which was also the first of ministry-level to mention "Bitcoin (BTC)" as reference, highlighted that DLT and blockchain will take precedence for the upcoming year. A new open-source platform for blockchain will be created in Turkey, as well as a regulatory sandbox for blockchain applications. Turkish institutions have been opening up to blockchain technology in different areas, including establishing the Istanbul Blockchain and Innovation Centre for the research and development of blockchain technologies. |
Zooming in Indian automobile production giant Tata Motors intends to assimilate blockchain solutions into its internal operations. Part of a new program for startups, dubbed the "Tata Motors Automobility Collaboration Network 2.0," the program aims to produce different industry-related products like blockchain-enabled solutions. Tata Motors is not the first to embrace blockchain - global leaders like Mercedes-Benz and Chinese automotive group Geely owned-Volvo Cars have also adopted blockchain-related practices and platforms. |
Blockchain term of the day - ImmutableA property that defines the inability to be changed, especially over time. |
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)! |
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You already know you've got a ticket on us if you can make your way to Victoria Theatre in Singapore! For the guys and gals looking for a little more than free, we've got you covered. Check out our full-admission ticket, which includes free-flowing beverages so you stay #hydrated all day, fancy nibbles in the AM and PM, gourmet lunch, and exclusive access to The Capital's VIP after-party! Also, here are all our wonderful media partners who will be at The Capital to amplify and support the inaugural event. It's going to be amaaaazing! |
Hi y'all! On Monday, we released a new blog post covering the topic of "Market-Neutral Derivatives Trading", as explained by us! Check out it out here! |
Other news Binance is pushing its stablecoin Venus as a government-friendly substitute for Facebook's Libra. Vice News recently reported that North Korea is starting to build their own cryptocurrency identical to Bitcoin (BTC). Crypto exchange Zebpay recently assisted Australians in diversifying their self-managed super funds (SMSFs).
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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) 18 Oct - U.S. SEC's decision on the VanEck/SolidX Bitcoin ETF application, under the Cboe BZX exchange (final decision) TBA - ICE's Bakkt Bitcoin Daily Futures Contract updated launch timeline TBA - Justin Sun's lunch with Warren Buffett |
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