Friday, June 21, 2019

Bitman U.S. IPO / BTC Reaches High / Follow Friday

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Market Watch: Bitcoin's market cap topped $175 billion as it closes in on $9,900. 22 of the top 25 cryptocurrencies have sustained positive gains over the past 24 hours. Ethereum leads the way in the top 10, up almost 8 percent.

  • Bitcoin: $9,855.25 (⬆️ 5.45%) // $175.14 billion market cap.
  • Ethereum: $288.62 (⬆️ 7.56%) // $30.76 billion market cap.
  • XRP: $0.44 (⬆️3.47%) // $18.75 billion market cap.
  • Litecoin: $138.62 (⬆️ 3.08%) // $8.63 billion market cap.
  • Top 100 Winner: MonaCoin: $2.79 (⬆️ 19.02%) // $183 million market cap.
  • Top 100 Loser: Crypto.com Chain: $0.05 (⬇️ 6.75%) // $423 million market cap.

Prices are as of 12:16 EST.

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1. Bitmain, the world's largest producer of cryptocurrency mining chips, is reviving its plans for an IPO by listing in the U.S. instead of a listing on The Stock Exchange of Hong Kong as originally planned. After pulling the strings on its Hong Kong IPO because of decreasing Bitcoin prices, Bitmain will look to file listing documents with the U.S. Securities and Exchange Commission as soon as next month. Bitmain was last valued at a $15 billion private valuation and will look to raise between $300 to $500 million. - BLOOMBERG

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2. Bitcoin reached the highest its been since May 2018, touching $9,840. Bitcoin is up nearly 140 percent on a quarter-to-date basis from April 1st. Bitcoin reached its highest market cap of the year surpassing $175 billion and has erased 40 percent of the bear market drop since reaching $20k in December 2017. The rise in price is pulling the rest of the market as all cryptocurrencies in the top 12 are seeing positive movement over the past 24 hours. - COIN DESK

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3. Follow Friday: Michael Creadon is the Head of Business Development at DrawBridge Lending. You can catch Michael at crypto events all over the United States and he posts original daily content on his LinkedIn over-viewing the crypto market. As a former Bloomberg writer, Michael is able to produce clear and concise thoughts making complex crypto jargon understandable for all. Below is a post from this morning that he wrote:

"The great rally of 2019 in digital assets continues as everything not tied down is moving higher this morning. Ethereum is back above $290 after falling last year to $82, and looking like insolvency - or something along those lines - was in the cards - not anymore. Bitcoin is about an eight or nine iron away from $10k, depending on your preference. And top alt-coins like EOS, Bitcoin Cash & Bitcoin SV are all pointing in unison the same way - higher.

Maybe Facebook's Libra, after all, is the catalyst. Or maybe it's the fact market participants are learning regulations exist to root out bad actors - not simply to wreak havoc on innovation; or maybe it's the fact adoption is becoming a real thing as debit cards and crypto lending move digital assets finally into the real economy. Hard to tell.

Yet the undeniable rally in 2019 is starting to feel ever-so-slightly like late 2017, when blockchain and cryptocurrencies took the world by storm in an ambush on financial markets, banks and the status quo.

But no doubt it's different this time around if for no other reason education has greatly advancement in the intervening 20-odd months or so. The woman and man on the street, in college, in Caracas, Tehran, Nairobi or East Lansing now know what this is. And that's making a difference."

Make sure you follow Michael on LinkedIn to get original insights into the crypto market on a daily basis. 

Follow Friday: Michael Creadon
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4. From The Forums: Libra vs Farmville. Reddit user Braincrowd posted a chart that compared and contrasted the usefulness of Libra and a popular Facebook game called Farmville.

Zctoz responded to the chart by saying,

"You said something that your local government does not like

Your LIBRA funds are now frozen until next month.

Thanks for choosing Calibra, worlds #1 wallet

You are not posting and liking enough facebook posts, your withdrawal rights have been canceled until you share more posts that make your local government look good.

Thanks for choosing Calibra, worlds #1 wallet

We have detected you are not uploading enough photos to facebook, please upload more photos in order to be able to withdrawal, make sure you show your patriotic traits and love for your local government.

Thanks for choosing Calibra, worlds #1 wallet"

From The Forums: Libra vs Farmville
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5. Deceased Quadriga founder Gerald Cotten directed client funds from the exchange to his personal accounts. - WALL STREET JOURNAL

6. France is creating a G7 task force to monitor how central banks will regulate new cryptocurrency projects like Libra. - REUTERS

7. Celsius is suspending the distribution of its token to users based in the U.S. over regulatory concerns. - THE BLOCK CRYPTO

8. Grayscale's publicly traded Ethereum Trust (Symbol: ETHE) is available today on the OTC markets. - GRAYSCALE

9. Crypto mining device Coinmine now pays out in Bitcoin. - COIN DESK

10. Amazon Pay Vice President Patrick Gaulthier says Amazon has no plan to create a cryptocurrency. - COIN TELEGRAPH

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Written and curated by Darren Webb. He created Currencylists and has worked in marketing roles for a multitude of cryptocurrency and blockchain projects since 2014. Based in NYC, Darren loves to read and continue to learn about cryptocurrency and emerging technology in his spare time. You can find him on Twitter @Dwebbny.

Editing team: Kim Lyons (Pittsburgh-based journalist and managing editor at Inside), David Stegon (senior editor at Inside, whose reporting experience includes cryptocurrency and technology), and Bobby Cherry (senior editor at Inside, who's always on social media).

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