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Ongoing consolidation

Over the weekend, total market capitalization gradually slipped from ~$220 billion to ~$214 billion, and 24-hour volume averaged ~$45 billion at the time. 

BTC is currently trading at ~$7,950, and continues to be testing the $8,000 support level. Consolidation at these levels have been going on for about a week. On the daily chart, RSI is at ~26.8, still indicative of strong bearish momentum. On the weekly chart, BTC has broken to the downside of its 21-EMA line, a level it has held since 1 April this year.

Partnering up 

Samsung's mobile payments service, Samsung Pay, has teamed up with Finablr, a payments platform and RippleNet member to deliver Money Transfer, a cross-border payments function to its users. 

Money Transfer offers safe and smooth cross-border payments to 47 countries via various payout methods, and allows U.S.-based Samsung Pay clients to use their debit or credit cards to send money with the service. 

Money Transfer will be available to more markets in 2020.

Welcoming 

Liechtenstein's Parliament has passed the Act on Tokens and Entities Providing Services Based on Trusted Technologies (TVTG), or the Blockchain Act.

The new law will regulate civil law matters related to client and asset protection as it creates sufficient supervision of different service providers in the token economy, and will help boost investor protection, create clarity and fight money laundering. 

Liechtenstein has once again shown that it "is the ideal location for FinTech and Blockchain companies". Previous reports have revealed that its positive approach to blockchain has already attracted companies like Bittrex Global to be headquartered there.

It's come down to this 

According to TechCrunch, Crypto exchange Coinbase is discussing the possibility of hiring the engineering team of Ripple-backed storage and rental startup Omni Rentals.

According to the report, Omni is struggling with layoffs and recently lost 7 operations team members. It is also in talks with professional hiring intermediary Thumbtack due to this. Omni’s Rentals business has been doing poorly since not many users were interested in borrowing the platform's goods. 

Coinbase would reportedly employ the engineering team to further develop its Coinbase Earn education platform. According to an official Coinbase spokesperson, no deal has taken place so far.

Blockchain term of the day - Hash power

A unit of measurement for the amount of computing power being consumed by the network to continuously operate. The Hash Rate of a computer may be measured in kH/s, MH/s, GH/s, TH/s, PH/s or EH/s depending on the hashes per second being produced.

Special announcement - CoinMarketCap 'The Capital' Global Conference

Other news 

• The Securities and Futures Commission (SFC), Hong Kong's securities regulator, has officially released regulations for cryptocurrency fund managers. 

• According to Business Korea, 97% of local digital assets exchanges are in danger of extinction. 

• Stolen domain names from the Ethereum Name Service's (ENS) auction have been recovered and returned by the hacker. 

Crypto calendar 

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

See you again tomorrow!

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