GSG Market Update – July 23, 2019 INTERNAL USE ONLY (copy 01)

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GSG Market Update

 

MarketWatch

July 23, 2019
 
Name Current Price 24h % 30d Vol 90d Vol 21d EMA 50d EMA
Bitcoin $9,999.57 -4.97% 129.57% 97.30% $10,737.188 $10,097.077
Ethereum  $211.25 -5.15% 116.76% 100.33% $249.329 $256.057
XRP  $0.313 -4.07% 90.09% 98.53% $0.348 $0.371
Litecoin  $91.43 -5.71% 121.96% 105.78% $104.413 $109.318
Bitcoin Cash $303.09 -4.38% 128.03% 112.41% $346.867 $370.820
Binance Coin $29.89 -5.22% 98.93% 96.83% $30.712 $31.012
EOS  $4.03 -5.25% 121.00% 114.04% $4.816 $5.486
Bitcoin SV $172.400 1.58% 151.97% 194.40% $166.742 $169.869
Stellar  $0.086 -5.63% 108.20% 102.20% $0.096 $0.105
TRON  $0.025 -13.96% 139.50% 118.63% $0.029 $0.030

Notable Moves
Name Current Price Change (24h)
TRON $0.25 -13.96%
TRON drops after lunch with Warren Buffett postponed due to Justin Sun illness

News

  • Circle is heading to Bermuda to serve its non-U.S. Poloniex clients. The firm has secured a Class F DABA license, which will allow it to offer a host of services relating to digital assets including custody and other financial services. Circle says the framework offered by Bermuda also requires Circle to comply with strict international standards, including AML procedures compliant with FATF.
  • Interbank messaging giant SWIFT has settled a cross-border payment, from Australia into Singapore, in just 13 seconds in a global trial. The trial integrated SWIFT's payments standard, Global Payments Innovation Instant, into Singapore's domestic instant payment service Fast And Secure Transfers. 
  • RIDDLE&CODE, Europe's leading provider of blockchain interface solutions, provided details and context of its DLT hardware wallet powering a Daimler Financial Services-led consortium to provide an open car wallet solution.  RIDDLE&CODE provides vehicle identity, trusted data provenance and a settlement layer to vehicles.
  • Bitfinex and Tether general counsel Stuart Hoegner says a previous filing by the New York Attorney General's office claiming that Empire State residents used the companies' platforms for far longer than previously stated "contain a number of inaccurate and misleading assertions." According to Hoegner, some documents presented as evidence "make clear that we would only do business with a foreign entity having no presence in New York," while other documents describing Bitfinex customers based out of New York were actually about "foreign eligible contract participants."
  • Binance Launchpad announces WINK IEO, a trustless, permissionless and high-performance gaming platform. There will be a maximum of 200,000 winning lottery tickets. After the token sale, WIN tokens will be issued on Binance Chain, thus becoming a BEP2 asset. 
  • Robinhood received $323 million in its newest funding round, bringing the startup’s valuation to $7.6 billion.  Investment company DST Global led the newest funding round. Other investors included Ribbit Capital, Sequoia, Thrive Capital and NEA.
  • AlipayHK has been licenced to provide services country-wide. Earlier this year, the AlipayHK wallet extended its services from Hong Kong to cities in the Greater Bay Area, including Shenzhen and Guangzhou. Payment provider will gradually be made available across China via any merchant accepting Alipay payments, hoping to offer new payment rails to Hong Kong citizens. 

Upcoming Events

  • Jul 26 - CME Bitcoin Futures Jul 2019 contract (BTCN19) last trade date; settlement July 29
  • Jul 29 - Tether Case "Order to Show Cause" deadline for NY AG's office
  • Aug 6 - Litecoin Block Reward Halving (Coin reward decreases from 25 to 12.5 coins)
  • Aug 14 - SEC decision on Bitwise ETF
  • Aug 20 - Blockchain Summit Singapore 2019 (forthcoming)
  • Aug 30 - CME Bitcoin Futures Aug 2019 contract (BTCQ19) last trade date; settlement Sept 3
  • Sept 17 - Ethereum Classic Atlantis hard fork
  • Sept 27 - CME Bitcoin Futures Sep 2019 contract (BTCU19) last trade date; settlement Sept 30
  • 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

Twitter Daily

Mati Greenspan@MatiGreenspan
Perspective.... 21 million coins total. 17 million currently minted. 4.5 million lost. Of the remainder estimated 60% or more are being hodled and are off the market. Of 7 billion people, about 2% have transacted in Bitcoin.

TRON Foundation
TRON Foundation announces postponement of Warren Buffett lunch, press conferences after founder Justin Sun falls ill with kidney stones. Parties agreed to reschedule at a later date.

DonAlt@CryptoDonAlt
Replying to@Tronfoundation
Crypto never ceases to make me laugh. When your crypto dumps by 8% because of a lunch postponement you're owning the wrong fucking crypto.


skew@skew_markets

Global markets are gearing up towards an important FOMC meeting next Wednesday - pricing in a 100% probability of a rate cut: 77.5% 25bps cut, 22.5% 50bps cut.

This will have implications for gold and possibly bitcoin - heavily discussed at the moment as global sovereign yields go negative



The volatility of ether relative to bitcoin is near historical lows

It's expiry week: CME 15,765 BTC equivalent futures to expire OKEX 6,238 BTC futures DERIBIT 15k BTC options


 

1/ #Bitfinex & #Tether systematically take apart the NYAG's latest claims: -ECPs are foreign entities -No personal or subject matter jurisdiction -No NY customer has suffered -Tether has never had a problem with redemptions. Period -USDT has not been proven to be a commodity

2/ The ECPs are all foreign entities: "Bitfinex and Tether do not transact with any New York ECPs. All references to New York-based trading or virtual currency firms … refer to foreign entities"

3/ No NY customer has been identified by the OAG as having suffered any loss or harm from the CryptoCapital problems or the Bitfinex/Tether loan transaction

4/ USDT redemptions have never been a problem "The loan repayment is evidence that Bitfinex is financially healthy...and that OAG's alleged concern over the "backing" of tether is unfounded. ... Tether has had no difficulty redeeming tether holders at par-not once, not ever."

5/ Bitfinex goes to great lengths to exclude US customers “ ... a concern about a highly uncertain regulatory environment ...This proceeding is a perfect example of what the Companies, at the cost of losing significant potential business, had intentionally tried to avoid. "

6/ Bitfinex does not target US customers "The Companies do not advertise or market to individuals or entities in the United States or New York.” “…vendor relationships have nothing to do with the OAG’s allegations…”

7/ Bitfinex has worked diligently to comply with the courts discovery order “Respondents in fact produced a significant amount of data and documents related to unverified users of the Bitfinex platform ... 70k pages of documents ... across 10 different communications platforms”

8/ The OAG tries to throw everything at the wall in the hope that something sticks The company's business does not relate to the secondary market trading of USDT on other platforms Other virtual tokens trading on Bitfinex are not related to the 354 order and are not customers

9/ $LEO has nothing to do with the US. Period 

10 / Credits to: @bitcoinlawyer @SteptoeLLP and @MorganLewisLaw  Document list: iapps.courts.state.ny.us/nyscef/Documen…



DonAlt@CryptoDonAlt

$BTC If I had to pick two places to close shorts///long it would be the two green areas below. S1: $9800 S2: $8200 Anything else is in no shape or form significant enough to me to buy in a (short-term) bear trend.



Spencer Noon@spencernoon

The difference between $ETH now vs. March 2016: 1. ~$500m locked in DeFi 2. Legit ETH 2.0 progress 3. Resolved identity crisis (PSoV) 4. Institutional adoption coming (e.g. futures) 5. Quiet UX improvements for dapps 6. L2 progress 7. Community maturation The future is bright.


 

Bitcoiners trying to spin a fake narrative. Bulgarian authorities seemingly hold 200K bitcoin seized from criminals. Bulgaria does not hold bitcoin "reserves". Law enforcement bodies =/ Central bank trustnodes.com/2019/07/21/bul…

The difference is huge. - law enforcememt stuck with seized property Vs - acquisition of bitcoin by central bank for monetary policy reasons If true, liikely a business opportunity for someone to help Bulgaria offload those bitcoins.


 

Reading through the latest Ethereum Core Dev call notes and it appears that EIP-2025 is being seriously considered as an EIP for Istanbul. EIP-2025 adds 0.044 ETH per block for 3,100,000 blocks to go to a dev fund. That’s 136,400 ETH. Absolutely absurd! This cannot happen.

Call notes: github.com/ethereum/pm/bl… EIP: github.com/ethereum/EIPs/…

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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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