Your daily newsletter for 27 September, 2019 |
“Two roads diverged in a wood and I - I took the one less traveled by, and that has made all the difference.” – Robert Frost |
It's gonna be a grind back up Over the last 24 hours, total market capitalization dropped back down from ~$222.4 billion to ~$213.7 billion, with most coins seeing losses in the ~2-6% range. 24-hour volume registered ~$67.8 billion. BTC is currently trading at ~$8,090, down ~4.5% over yesterday. Earlier in the morning, BTC even dropped below the $8,000 mark and hit a daily low of ~$7,910 - a level it has not seen since early June this year. On the daily chart, RSI at ~19, the lowest level it's been at since end Nov 2018! BTC continues to be trading below its 100-day EMA line, and below it's bottom Bollinger Band (-2 Standard Deviations below its SMA line). |
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Connecting healthcare Blockchain startup MediConnect has finished the progress for its Proof-of-Concept (PoC) to trace medications via the supply chain from manufacturers to end-users. It has also started consolidating online pharmacy UK Meds' procedures to to its blockchain-based platform, and plans to finish it in 2020. MediConnect has also worked with the Ugandan government early this year to track counterfeit drugs in the country. Blockchain technology's potential in the healthcare and supply chain areas is recognized by other governments and institutions, like that of the United Arab Emirates (UAE). |
Money saved According to a recent report, Unilever executive vice-president for global media Luis Di Como revealed to advertisement news channel Campaign that blockchain has helped the business save money. It's blockchain ad-buying platform seemingly paves the way for more efficient ad reconciliation with advertisers making sure that contracted agreements are really delivered. The 18-month-old project is a collaboration between the consumer packaged goods giant and computing mammoth IBM, with blockchain saving the former an ~2-3%. Unilever is set to scale the blockchain program and work with as software company Mediaocean to create a consortium. |
Revolutionizing retail America's biggest mall, the Mall of America, is due to exhibit Winklevoss-backed cryptocurrency payments. Startup Flexa will be an advisory participant in a new demonstration store, Modern Retail Collective, at the mall. The store will display new brands and technologies that improve the retail experience, and show "the legitimacy of how this stuff works". The project aims to help retailers know which new technologies actually add value with modern data and analytics. Flexa's Spalding stated that it will make a huge mark on the store, and its payment app SPEDN will be one payment option on offer at every retailer in the shop. |
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It's so awesome to hear that some of you have reserved your spot for The Capital! We're excited for you to join our first face-to-face crypto event dedicated to the CMC community. Here are 4 reasons you should attend The Capital! The things you'll learn Listen, discuss, ponder, and repeat. Knowledge is power! The people you'll meet - Leave Singapore with a wider social network - one that spans across oceans The sights you'll see - Not to brag, but our venue is pretty dope! Singapore also boasts some iconic architecture that makes for quality photos The hope and motivation you'll gain
Be encouraged by people who are running their hardest to see the crypto dream become a reality. Who knows? You might end up joining them, partnering up, or starting your own thing! If you do happen to make it out, shoot me a message to let me know you're there! Hate going to a conference alone? Invite your friends! Tickets are on us. |
Crypto deep dive: Chainlink - Cryptocurrency: LINK
- Market Capitalization Rank: 18th (~$569 million)
- Consensus: Proof of Work (PoW)
- Notable Supporters: Brian Lio (Smith + Crown CEO), Jake Brukhman (former Triton Research CTO), Evan Cheng (one creator of LLVM), and Ari Juels (Co-director of IC3)
What is it about - Chainlink is a blockchain-based middleware that provides a decentralized oracle service and acts as a bridge between cryptocurrency smart contracts and off-chain resources like data feeds, web APIs, and traditional bank account payments.
- This of Chainlink as an application or services that interfaces blockchains with the real world.
Why people love it - Chainlink has a partnership with SWIFT, the largest global provider for secure financial messaging (transactions). This partnership could grant them network access to a plethora of large banks and high profile institutions around the world.
- Chainlink is tackling a huge stumbling block in blockchain known as interoperability. If successful, there is significant upside due to the its large addressable market.
- From a price perspective, LINK has been pretty resilient in this bearish market and has been sneakily crawling its way up the rankings in the past few months.
Why people doubt it - A huge selling point of Chainlink is its partnership with SWIFT. This could lead to an over reliance on it which, could have very adverse effects on its network/ existing partners should the partnership dissolve in the future.
- Chainlink's success is largely dependent on attracting institutions to utilize its technology, which means strong networking initiatives are required.
- Some argue that Chainlink does not have sufficient marketing initiatives.
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Other news Cryptocurrency exchange Bittrex is using Chainanalysis' know your transaction (KYT) function to spot high-risk transactions. Alipay operator Ant Financial has teamed up with Monsanto's owner, pharmaceutical giant Bayer Crop Science, to create a blockchain answer for the food and agricultural industry. New York residents can now access Stellar (XLM) and Chainlink (LINK) on Coinbase.
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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) TBA - Justin Sun's lunch with Warren Buffett |
Bitcoin Dominance
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Daily Top 10
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Greatest Crypto Gainers
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Greatest Crypto Loses
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New on CoinMarketCap
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Thank you all for reading! Catch you back here again next week for your daily dose of crypto news!  |
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