📌 The Next Crypto Unicorn, NY Kicks Out Bittrex, and (Finally) Bullish Charts

MUST READS


Andreessen Horowitz is Blowing Up the Venture Capital Model (Again)

Keep an eye on Andreessen Horowitz and its forays in the space…

It’s now looking like the firm is gearing up to do things in the crypto world that its peers aren’t willing to touch yet.

 

📈 Some Crypto Charts That Make Us Happy

We tend to steer away from sharing any technical analysis here… especially up in the must-reads portion of this letter. However, because it’s been quite some time since we’ve seen prices trending in the right direction… we simply couldn’t resist. H/t Messari for the collection…

  1. Bitcoin is now trading above it’s 200-day Moving Average for the first time in more than a year. (source: Fundstrat)
  2. Contrary to mainstream media coverage, regulated futures markets aren’t dead. CME Bitcoin Futures Volume hit a record high days ago. (source:CMEGroup)
  3. Coinbase Pro keeps piling on the assets – all of which are glowing green year-to-date. (source: TBI)
  4. The Market Value to Realized Value (MVRV) ratio also just bounced back over 1.0. For some perspective, the only other time MVRV fell below 1.0 prior to Dec 2018 was in the 2015 bear market. (source: Coinmetrics)

Generally speaking, there’s much to be excited about. Just don’t hate us if the market tanks tomorrow.

“The overall story these snapshots tell is an exciting one: we’ve got positive momentum, institutional activity is picking up, retail investors are all seeing green once again, and my pet “fundamentals” metric just tipped back in the right direction.”

 

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Warning: These 3 Cryptos Will Disappear in 2019

Huge changes are about to hit the crypto market. In fact, 3 popular cryptos will disappear forever before the end of 2019. Get the details—along with 6 other shocking crypto forecasts in the brand new report and learn which 3 cryptos to ditch before it’s too late.

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DEEP DIVE


🦄 The Next Wave of Crypto Unicorns

Every crypto venture capital fund is hunting for one thing: The next unicorn.

Mining hardware manufacturers like Bitmain (seeking IPO last year) and exchanges like Coinbase were the first to unlock the unicorn status. Now, crypto unicorns can be cleanly categorized into two buckets: the financial services sector (Coinbase, Kraken, Circle, Binance) & the mining hardware sector (Bitmain, Bitfury).

This article, however, focuses on a different sector in the crypto unicorn world: The blockchain data industry.

 

How Bitcoin Found its Niche in Competition with Visa, Mastercard, and Paypal

2018 was quite bearish for the crypto market. Many projects lost more than 90% of their capitalization, while Bitcoin lost approximately 80% of its value. Nevertheless, the amount and volume of Bitcoin transaction are steadily increasing.

DataLight experts investigated Bitcoin as a payment system and compared it with the economic indicators of Visa, MasterCard and PayPal provided in their 2018 annual reports.

The results are very surprising.

 

🖼️ The State of Crypto Interoperability (Explained in Pictures)

There’s been a lot of talk about blockchain interoperability recently with the launch of Cosmos and the potential threat to the Ethereum ecosystem.

This piece is a deep dive on the technicalities of Cosmos and Polkadot, but will also give you the prerequisite knowledge you need to understand these protocols at a technical level (with pictures to help you understand along the way).

 

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Pot Stocks Are Actually Making Millionaires Overnight

This project recently put together a full, step-by-step guide to making money with pot stocks

And because you’re an active reader… we wanted to make sure that you got yourself a copy, free of charge, right away.

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REGULATORY FRONT


Bittrex Customers Were Using Fake Names (like Donald Duck and Elvis) to Trade, and Now the Exchange Has to Leave NY

The New York Department of Financial Services (DFS) announced today that it has rejected Bittrex’s application for a virtual currency license to operate in NY.

In a statement, the DFS said it denied Bittrex’s application due to deficiencies in the exchange’s capital, as well as anti-money laundering, requirements. It cited its “failure to demonstrate that it will conduct its business honestly, fairly, equitably, carefully, and efficiently.”

The New York regulator also ordered Bittrex to cease operating in the state of New York and wind down its business within 60 days.

 

🇰🇷 South Korean Officials Consider Revision of Existing Crypto Regulations

Top government officials reportedly stated that the country has to re-evaluate cryptocurrency policies in order to facilitate the growth and maturity of the market.

“The government has misunderstood the virtual currency and tried to meet the real currency standards, so there are various problems.”

 

TWEET OF THE WEEK


 

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