GSG Market Update – August 30, 2019

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GSG Market Update

August 30, 2019

MarketWatch

 
 
Name Current Price 24h % 30d Vol 90d Vol 21d EMA 50d EMA
Bitcoin  $9,625.28 1.48% 68.79% 91.35% $10,334.71 $10,368.00
Ethereum  $170.56 0.43% 69.57% 88.19% $193.43 $211.72
XRP  $0.257 1.70% 58.96% 73.48% $0.278 $0.304
Bitcoin Cash $283.45 0.42% 69.85% 93.76% $311.00 $328.13
Litecoin  $64.69 -1.03% 77.99% 95.18% $76.36 $86.23
Binance Coin $22.56 0.81% 72.41% 82.88% $26.64 $28.17
EOS  $3.28 1.76% 73.00% 97.93% $3.69 $4.21
Bitcoin SV $129.430 4.81% 56.10% 107.50% $136.76 $145.56
Stellar  $0.063 0.64% 60.48% 79.05% $0.071 $0.080
Cardano  $0.045 2.82% 80.83% 93.88% $0.050 $0.057
 

Top Stories

  • Cryptocurrency trading and payments in Portugal are tax-free, the European country’s tax authority has clarified. Local business newspaper Jornal de Negócios reported the news earlier this week, saying that the authority has said that both cryptocurrency trading in real currencies and remuneration in cryptocurrencies are exempt from value-added tax.
  • Seychelles-based securities exchange MERJ plans to distribute its equity to Europe via a partnership with blockchain service provider Globacap. A Globacap press release published on Aug. 29 revealed that MERJ plans an IPO to distribute company equity in the form of equity-security tokens. The IPO, planned for next month, will be offering 16% of the company’s share capital.
  • Hedera Hashgraph announced it will offer open access to its mainnet beta starting Sept. 16. According to an official blog post, the open access beta test will be a period of free public access, during which developers will be able to build DApps on the platform. 
  • According to the Financial Times, hedge fund manager Alan Howard, owner of Elwood Asset Management, is set to launch a new cryptocurrency venture that is expected to manage up to $1 bln in digital assets. Elwood's CEO Bin Ren told The Financial Times that the new venture aims to help investors select quality funds.
  • MorningStar Japan, a subsidiary of SBI Holdings, announced that it will offer its shareholders dividends in the form of XRP tokens. Shareholders will have to open an account with cryptocurrency exchange SBI VC Trade and will get 30 XRP if they hold a minimum of 100 shares by Sept. 30. 
  • The Bangkok Post reported Thursday that the Customs Department of Thailand will adopt TradeLens, the logistics platform jointly supported by IBM and Maersk, to streamline its shipment tracking procedures as part of the country’s "Thailand 4.0" policy. Thailand will be the second member of the Association of Southeast Asian Nations to use the platform, following Singapore.
  • A research report from Binance says China’s digital currency will most likely be a two-tiered system replacing notes and coins in circulation. The report claims the PBOC's CBDC will be backed 1:1 by renminbi fiat and follow a two-tiered structured system. Binance claims the PBOC’s system could allow fund transfers without the need for a bank account.

Upcoming Events

  • Aug 30: CME BTCQ19 last trade date
  • Sept 13: Ethereum Classic Atlantis hard fork
  • Sept 23: Bakkt Launch
  • Sept 27: CME BTCU19 last trade date
  • Sept 27 - Oct 4: Korea Blockchain Week 2019
  • Oct 13: Bitwise ETF Final Decision
  • Oct 18: VanEck/SolidX ETF Final Decision
  • Oct 25: CME BTCV19 last trade date
  • Oct 28: Mt. Gox Rehabilitation Plan Submission Deadline
  • Oct 31: Telegram Open Network Launch
  • Jan 3, 2020: Ethereum 2.0 Launch (Phase Zero)
  • Nov 2020: ZCash Halvening / Founders’ Reward set to expire

Charts

 

BTC Longs-Shorts



ETH Longs-Shorts



Market Cap Return




Sector Return



Tether Marketcap



Bitmex Perp Swap Funding Rates

 
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Twitter Daily

dave the wave@davthewave
ETH/ USD Freebie from my alts page....
 

Alex Krüger@krugermacro
Trending lower organically. $FTT

Su Zhu @zhusu
Among large alts, $XMR tried the hardest to trade like $BTC over the past 30days. On this latest dump it has been unable to defy gravity. $ZEC leading the way as usual.

hodlonaut@hodlonaut
Pretty interesting observation on yesterday's dump from a friend of mine. EOS dumped super hard before Bitcoin even moved. ETH, LTC and other alts followed suit shortly after, before the big dumping started on BTC. Draw your own conclusions.

Mike Dudas@mdudas
A very rough week for the exchange tokens. Interesting to see this even as both @bitfinex and @Binance introduce many new features meant to increase the utility value of holding LEO and BNB.
ImageImage
Ari Paul @AriDavidPaul
Excited to see Hedera going live (disclosure, I'm an investor and adviser). It's a hard project to summarize; in my mental model of the crypto landscape I think of it as a platform enabling easy private network access and construction on top of a public network trust model.

Quote Tweet
Hedera Hashgraph@hashgraph
Hedera @hashgraph public mainnet open access (OA) is planned for Sept 16, allowing any #developer to create an account and build #decentralized applications. News here: https://hedera.com/blog/hedera-hashgraph-public-mainnet-open-access-planned-for-september-16th-2019… #hellofuture

3/ another angle the hedera team have been focused on is how to bootstrap a decentralized PoS network such that you don't have to fear a malicious actor accumulating 1/3+ of the circulating coins and creating problems.

4/ hedera's approach is to start permissioned with a large set of known validators, and then to allow anonymous nodes later on as coin ownership becomes more distributed and attacks become exponentially more expensive.

5/ @PeterMcCormack asked what it's for, and here I tried to address both the high level use cases, as well as the necessity for a trustless network to have its own token to be secure.

Quote Tweet
Peter McCormack@PeterMcCormack
Replying to @AriDavidPaul
But what is the point of it? Genuine question, not trolling. What is it for? Where will value be created?
Preston Byrne  @prestonjbyrne
Hedera claims it can run 500k TPS in a decentralized manner. I think that claim is less than accurate. TBD whether it withstands public scrutiny.

 

Kissing the 128d MA is a very good sign. It was overheated till this. People familiar with BTC’s historic personality know that the 128d line needs to be touched many times during a bull market to stay grounded. They present good buying opportunities.






















People asking what if the 128d line breaks. Is that the end of the bull? I’d say that the fundamentals on-chain are no where near the end of a bull. Have sent @CoinDeskMarkets a bunch of charts demonstrating the on-chain perspective. They’ll do an article.
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This update is provided for information purposes only and does not bind GSG Asset Management or any of its affiliates in any way. It is not, and is not intended to be, a/an: (1) “research report”, “investment research” or “independent research” as may be defined in applicable laws and regulations worldwide; (2) offer to sell, a solicitation of an offer to buy, or a recommendation for any digital asset by GSG Asset Management or any third party; or (3) official confirmation or official valuation of any transaction or asset mentioned herein. To the extent that any of the content published in this update may be deemed to be investment advice or recommendation in connection with a particular digital asset, such information is impersonal and not tailored to the investment needs of any specific person. Any pricing information is indicative only, and does not reflect a level where GSG Asset Management is prepared to execute a trade. You understand that an investment in any digital asset is subject to a number of risks, and that discussions of any digital assets in this update will not contain an exhaustive list or description of the relevant risk factors. GSG Asset Management is not an advisor, and nothing in this update should be construed as investment, tax, legal, accounting, regulatory or other advice, or as creating a fiduciary relationship. You alone are solely responsible for determining whether any investment, security or strategy, or any other product or service, is appropriate or suitable for you based on your investment objectives and personal and financial situation. You should consult an attorney or tax professional regarding your specific legal or tax situation. All market prices, data, and other information (including that which may be derived from third party sources believed to be reliable) are not warranted as to completeness or accuracy, and are subject to change without notice. All content in the update is presented only as of the date published or indicated, and may be superseded by subsequent market events or for other reasons. GSG Asset Management disclaims any responsibility or liability to the fullest extent permitted by applicable law, whether in contract, tort (without limitation, negligence), equity, or otherwise, for any loss or damage arising from any reliance on or use of this update in any way.






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