Thoroughly enjoyed blockchain.com’s “2019 Crypto Investment Thesis”. Of the handful of nuggets in the 150-pager, this has to be my favorite slide.
Headwind made on both sides of the fence. UK's Financial Conduct Authority voices concern over crypto derivatives and ETN triggers a press bonanza of speculation that England will be next where the sun sets; the chances of this actually materializing are far out but we can see where too-big-to-fail banks are pushing the envelope. Maxime Waters, FCA… #too-much-to-lose
And then there are those serving as ambassadors for the space. Singapore may potentially lift GST from payment transactions; Iran complains laws-to-be-enacted in the US are hampering her efforts to build the foundations for the nascent industry while Cuba mulls joining the movement to circumvent US sanctions as did Venezuela. Zimbabwe premiums are still in the mid-teens as the government looks to fumble (again). Huobi ties up with Nervos to offer DeFi services while Gemini applies for a broker-dealer license; a stepping stone to becoming an approved alternative trading system. The Ethereum Foundation is allegedly busy courting Middle-eastern royalty as they look to pull off what Masayoshi Son did in the venture capital space inc crypto. Validation would come with three comma’s!
And if that sounds too far fetched, perhaps a few words of wisdom from Mark Mobius dubbed the father of emerging & frontier markets, the latest to pull a 180.
“There’s definitely a desire among people around the world to be able to transfer money easily and confidentially… and that is really the backing to Bitcoin and other cryptocurrencies of that type,”
- Polymath ($POLY) +2.5% regroups and drops two internal projects, to focus on securities token platform
- Litecoin ($LTC) Flexa adds as payment rail; LTC is now accepted at 39k+ Point of Sales
- Grin ($GRIN) -2% developers agree to postpone upgrades designed to render mass-market miners obsolete
- Dogecoin ($DOGE) -2% pulls back from +34% pop following Binance listings; CZ explains this is an exception given the sheer size of the community. Separately DOS Network ($DOS) +8.8% slated for list in 4 hrs.
- Binance Coin ($BNB) +3.3% USD & HKD on/off ramps guided to-be-added July.
- BitTorrent ($BTT) +5% Bittorrent Speed launch guide for today.
- Ethereum ($ETH) +4.9% CME to add itBit as a constituent to ETHUSD reference rate. ETH future in the pipeline?
May the trend be your friend… Happy trading!
