Your daily newsletter for 10 October, 2019 |
“Be not afraid of growing slowly, be afraid only of standing still.” – Chinese Proverb |
Rally! Over the last 24 hours, we got to see a slight market rally! Total market capitalization rose from ~$223.6 billion to ~$231.5 billion, with most coins seeing gains in the ~2-7% range. Notable mover of the day is Maker (MKR), currently up ~13.5%. 24-hour volume registered ~$68.7 billion. BTC is currently trading at ~$8,590, up ~4.7% over yesterday. at the same level it was at yesterday. On the daily chart, BTC is currently challenging its 100-day EMA line of resistance, and RSI is at ~45, up from yesterday's ~35. On the weekly chart, BTC bounced off its 50-EMA line and is currently trading between its 21 and 50-EMA line. |
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Banking in BitGo, a digital asset financial services business, will be offering safe storage in bank-grade vaults for cryptocurrency assets under leading cryptocurrency exchange Bitstamp's management. David Osojnik, Bitstamp CTO, expressed confidence that BitGo's "exclusive focus on institutional services has allowed them to develop the tech and processes necessary for running a robust and compliant cryptocurrency exchange". BitGo has also started a new staking service for clients parking their assets with its professional custodian subsidiary, BitGo Trust. |
Open up At the recent Ethereum developer conference Devcon 5, Blockchain infrastructure startup Wireline's co-founder Lucas Geiger revealed a permissionless fork of Facebook's Libra stablecoin, OpenLibra. OpenLibra is set to be the "alternative to Facebook's Libra, that places emphasis on open governance and economic decentralization". OpenLibra's developers have already released the first version of a permissionless Libra-based virtual machine, dubbed MoveMint on GitHub. |
New milestones Vanguard has teamed up with a Nasdaq Ventures-backed blockchain startup, Symbiont, to produce a trading platform for the currency market. Through this development, Vanguard aims to "lower transaction costs for the trillions of dollars worth of currencies it trades annually by boosting peer-to-peer trading for investors" by "connecting them directly via blockchain technology". According to Symbiont CEO, Mark Smith, Symbiont is "the only enterprise blockchain solution" as "the others either aren’t really blockchains, have privacy and security shortcomings or haven’t produced anything beyond ideas". The startup is known to be one of the most successful among its competitors like Hyperledger and Digital Asset in the enterprise blockchain space. |
API stands for Application Programming Interface. It is a set of routines, protocols, and tools for building software applications. APIs specify how software components should interact, such as what data to use and what actions should be taken. |
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)! |
Who knows what the next year could hold? IF you've got some free time the 2nd week of November... IF you've contemplated going... Why not head down to The Capital? Join us in Singapore, for a one-of-a-kind crypto conference created especially for you. Because, who knows what you'll be up to in the future, or where in the world you'll be next year?
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Other news Bitmain has announced 2 new series 17 Bitcoin (BTC) mining rigs. The U.S. Internal Revenue Service (IRS) has released guidance for tax reporting on cryptocurrency airdrops and hard forks. Crypto exchange Binance has opened up to peer-to-peer (P2P) cryptocurrency transactions in China that accepts fiat through Alipay and WeChat.
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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 |
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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