Get to it

Welcome back, CoinMarketCap crew! Hope everyone had a restful weekend is is ready to take on the new week! Alright, grab your morning cuppa coffee and let's get down to business! 

Today in history (1919), the oldest existing airline, KLM, Royal Dutch Airlines, was set up. 

We will be covering Samsung Pay teaming up with Finablr to deliver Money Transfer, Samsung Pay teams up with RippleNet member Finablr, and Liechtenstein’s passing the Blockchain Act and Coinbase potentially hiring the engineering team of Omni Rentals.

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!

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

Poll of the Day

How much do you agree with this statement: "I believe BTC will break below the $8,000 support zone."

What you said

"On a scale of 1-10 (10 being most eager), how eager are you to see more crypto derivatives products on the market?""

The average vote was 5.8. 

"Why or why not?"

more big money – It’ll open up the market! 

The more coins, the lower public confidence in the crypto system. – Correction: the more “crappy” coins haha. Nothing wrong with more good coins. 

More? Let the current companies work on the hundreds available now. Maybe it would be possible to improve those currently present, get serious utility for them, and drop the ones that aren't useful/profitable. Then the market would be ripe for the next wave of mindblowingly incredible products. In other words, employ purposeful planning, design, and implementation to separate the wheat from the chaff. - Perhaps the idea here is to first create these products, so that users have a wide variety to choose from. 

The market is over saturated with derivatives. We need more concrete store of value assets. – Don’t we already have that with BTC? Haha 

It’s too complicated for now – It kinda is. It would be really difficult for crypto newbies to get a grasp on the newer deriv products. 

any new product i welcome it.. – Welcoming lad 

Derivatives are essentially casinos adding nothing to progress and designed to effectively trick people into losing, otherwise they wouldn't bother operating – Well not true. They can serve as great hedging tools. 

to more gain – More possible avenues to make more moneh for sure. 

Having square eyes just keeping up with the current offerings never mind a new one!! – That can be good too, focusing on what you're familiar and good at 

"What are your plans for the weekend?"

Family and friends get together – Ohh always a good idea. 

Going to shopping and enjoy with family and friends - Sounds like a fun weekend! 

Long drive. Not looking forward to it! – Where ya heading to! 

Study – Oh mann. It’ll pay off for sure. Keep at it! 

movies & popcorn.. – Lol its you again! My loyal subscriber. 

Birthday lunch for me tomorrow with family and then get on it before some homework for a possible new customer engagement and of course squeezed in there will be watching live and highlights of the weekend's premiership football – Happy birthday! Hope you got to enjoy your special day. 

See you again tomorrow!

our newsletter? Share with a friend!

our newsletter? Spam your enemy!