 QUOTE OF THE DAY  |
| "If you're looking for a home run -- a great investment for five years or 10 years or more -- then the only way to beat this enormous fog that covers the future is to identify a long-term trend that will give a particular business some sort of edge." - Ralph Wagner |
Happy Saturday! Thank you to all of those who are subscribed and take the time each day to educate themselves about cryptocurrencies and blockchain. It is truly special what we are a part of. We are witnessing history.
Cheers,
Blockchain Brew Team
| COIN | PRICE | 24H |
|
| BTC | $7,601.76 | +0.3% |
|
| ETH | $601.324 | +0.65% |
|
| XRP | $0.665607 | +0.04% |
|
| BCH | $1,111.35 | +0.33% |
|
| EOS | $14.3317 | +3.32% |
|
*Information as of 9:30 AM EST
Third Largest Crypto Exchange Huobi Expands to United States
HBUS
- Yesterday, Finance Magnates reported that the Chinese-founded exchange Huobi has plans to open a new U.S. trading platform called HBUS
- In a Medium post, HBUS expressed the fact that it will not be an "arm" or "subsidiary" of Huobi, but rather an independent "strategic partner"
- HBUS will be conducting a soft launch on June 10th with official trading set to start on June 15th
MOVE INTO U.S.
- Amongst cryptocurrency exchanges catering to retail investors there is agressive competition and exchanges have been expanding rapidly into new markets to stay ahead
- This move from Huobi to jump into the United States is bold since U.S. regulators have been strict on crypto exchanges
- To operate properly, HBUS will have to comply with strong anti-money laundering and counter-terrorism financing policies
BOLD MOVES
- To keep up with the leading rival exchanges Binance and OKEx, Huobi has been making some bold moves recently
- Along with the HBUS partnership in the U.S., Huobi has launched a crypto-based exchange traded fund (ETF), announced the launch of its new public blockchain, and entered into a partnership to launch an investment fund focused on blockchain startups
Report Finds There Is Now As Many Speculators and HODLers
WEAK HANDS
- According to research done by the Financial Times, using data from Chainalysis, the number of short term investors in Bitcoin is reaching the number of long term investors
- It is estimated that the number of Bitcoins held by day traders is around 5.1 million in comparison to 6 million Bitcoins that have been held for more than a year
- The data also shows that the volume of Bitcoin trading has fallen drastically since Bitcoin reached its peak in December, which is theorized to be a reason for the price decline
- The date also shed light on the “Bitcoin wealth list” and determined that 1,600 addresses own roughly 1/3 of all Bitcoins
WHAT THIS MEANS
- People have speculated that the price of Bitcoin is being manipulated by some big players and Coinalysis’s data backs up this theory
- These findings could be the result of institutions entering the game and if that is the case, the real big determinant of the potential for Bitcoin’s price to rise past all time highs is regulation
Baidu Announces Interstellar Blockchain Game
BAIDU
- Baidu is a Chinese based internet services and products company, that is known as the 'Chinese Google' as it is the main search engine used in China
- The website is currently ranked as the 4th most popular website by the Alexa Internet rankings
PRIOR INTEREST IN BLOCKCHAIN
- Earlier this month, Baidu revealed its 'Super Chain' protocol with the goal of reducing mining energy consumption
- Before the birth of 'Super Chain', Baidu launched its Blockchain-as-a-Service product and the 'Super Chain' protocol is another addition to its service
DU YUZHOU
- Baidu’s next venture into the blockchain space is a blockchain powered game called Du Yuzhou (translates to The Universe)
- The game involves users building their own planets with elements on the blockchain
- When the game starts, users will be airdropped 100 random elements to start their planet
- The goal of the game is to build a bigger and bigger planet to attract more elements via gravity
Baidu describes the game as:
“An open blockchain interplanetary journey, a magical world made up of all kinds of rare elements.”
On Friday, CFTC Commissioner Rostin Behnam spoke at the BFI Summit “Fostering Open, Transparent, Competitive, And Financially Sound Markets” at the United Nations, here is an excerpt about what he had to say about cryptocurrencies:
“The debate on virtual assets is just beginning. None of us know where it will end. But it has forced us to rethink. We have learned that virtual assets respect no borders. Regulation is often behind the curve, unable to keep up with daily developments. At least the developments we know about. As a result, some countries have outlawed virtual currencies. Others have new, strict laws to control them. Many countries simply don’t know what to do. Their policy is bewilderment. Or avoidance. And, some countries think virtual currencies are only a problem for developed countries like Switzerland, or Germany, or Singapore, or the United States.
But virtual currencies may – will – become part of the economic practices of any country, anywhere. Let me repeat that: these currencies are not going away and they will proliferate to every economy and every part of the planet. Some places, small economies, may become dependent on virtual assets for survival. And, these currencies will be outside traditional monetary intermediaries, like government, banks, investors, ministries, or international organizations.
We are witnessing a technological revolution. Perhaps we are witnessing a modern miracle. Virtual currencies could transform the economic and social landscape. It could mean a massive, and equitable, shift of wealth. Technology could be transformational, without a military take-over, civil war, or political or religious creed.”
Read the commissioner's full speech here
TRON (TRX)
BitForex lists TRX. Trading begins at 4PM (GMT+8).
Binance Coin (BNB)
World Blockchain Forum Singapore from June 8-9 in Singapore.
Cortex (CTXC)
19:30 ~ 21:30, Dreamplus Gangnam.
Today in Crypto is powered by coinmarketcal.com
- Wall Street’s ‘Crypto King’ Says Regulatory Clarity Will Jump-start Institutional Investments
- Huge Bitcoin Whale With 94,947 BTC Transfers Crypto Onto an Exchange, Rattling Nerves
- China as a Prime Example of “Blockchain Before Bitcoin” Policy
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