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BTC Volumes Galore

Check out past issues of the newsletter along with more interesting crypto content as well as our rec

Satoshi&Co Daily Crypto Newsletter

May 16 · Issue #177 · View online
ZPX | Satoshi&Co Newsletters

Check out past issues of the newsletter along with more interesting crypto content as well as our recently-launched podcast series with leading crypto industry participants at our newly-launched website

(Listen to our latest podcast here. It is with Dhruv Bansal of Unchained Capital, and it is proving to be a sleeper hit! In case you just want to read the summary notes, you can find them here).
Crypto markets are back in full swing this week as the prices have increased by about 20% across the board and trading volumes have reached new highs this week. Most importantly, for the first time ever, Bitcoin futures trading volumes on CME surpassed the $1 billion mark earlier this week and spot trading volumes on Binance have roughly tripled this week to $700 million. Coinciding with Consensus week, there is abundant liquidity in the market and there are echoes of the final months of 2017 of the previous mega bull run. We can of course, do without what came after starting Jan 2018.  
Source: CME
Source: CME
Meanwhile, another indicator for the surge in demand for Bitcoin is the spike in median transaction fees on the Bitcoin blockchain. The median transaction fees surged to $2.3 yesterday after having been below 50c for a majority of 2018 and 2019 so far. The combination of rising prices and fees suggests that there is significant demand for moving Bitcoins around.
Source: Bitinfocharts
Source: Bitinfocharts
Joe McCann
1/ May 10th, 2019, marked the first time in 577 consecutive days that bitcoin's 200 Day Moving Average (DMA) has recently started trending upward.

This has massive implications for a bull run. Let's look at why.

(thread) #crypto #BTC
Meanwhile in Crypto Wonderland....
“Opera’s In-browser Crypto Wallet To Support Tron Soon”
Opera is working to integrate support for Tron’s TRX and TRC-standard tokens in its browser-based crypto wallet. After the integration of the TRON blockchain is complete, the browser’s over 300 million users worldwide will be able to use the tokens within the browser, Opera said Wednesday. The integration will also allow users to play Tron games and access Tron decentralized applications (dapps) within the browser, without requiring third-party extensions or applications. There are currently over 400 dapps built on the Tron blockchain, the Norwegian browser maker said, citing data from DAppReview.
“Coinbase To Acquire Xapo?”
Regulated U.S.-based cryptocurrency exchange Coinbase is in advanced talks to buy custody provider Xapo for about $50 million to boost its custody business, people familiar with the matter said on Thursday. Xapo’s CEO Wences Cesares is a serial entrepreneur from Argentina known to be one of the biggest champions of bitcoin from its earliest days. Sources cautioned that the deal has yet to close, and requested anonymity due to the confidentiality and fluid nature of the talks. According to sources, Coinbase and Fidelity Digital Assets have been locked in a neck-and-neck race for the prized asset for the past few weeks, with Coinbase ultimately prevailing. If the tentative terms being discussed hold, Coinbase will pay ~$50 million in cash for Xapo, plus a contingent earn-out for remaining with the company. Xapo raised $40 million since its founding in 2012.
“Ripio Launches Exchange in LatAm”
Ripio, one of the longest-running startups in the crypto space and the company behind the popular Ripio Credit Network, has announced the launch of its full Ripio platform in Brazil, Argentina, and Mexico. The platform unifies all of Ripio’s products, letting users learn and trade cryptocurrency in one place — an important step for driving the mass adoption of crypto in Latin America and, through further partnerships, across the world. The brand-new Ripio platform is a single sign-on solution to take users through their entire crypto journey, from initial curiosity about blockchain to more advanced trading.
“IOTA To Help Build Smarter Cities in Texas”
IOTA, one of the fastest growing blockchain foundations on the world, announced that it will sponsor the first inaugural Texas Smart Cities Summit, an event that aims to accelerate smart city efforts in the state of Texas. The company will also hold several events throughout the summit, it said in a statement. The technology that has enabled digital coins has the potential to be implemented in virtually any industry—from supply chains and fashion, to finance and government. Several major corporations have begun experimenting with cryptocurrency, and a handful of local governments have followed suit. Texas is one of those pioneers. A cohort of companies, organizations, and individuals from the state created a consortium aimed at utilizing blockchain. The Austin CityUP was created in order to advance smart city initiatives in the state.
Tweet of the Day
Ryan Sean Adams
Kodak exec can't find use for digital cameras that helps their film customers (1996)

Blockbuster exec can't find a use for the internet that helps their DVD rental customers (2003)

Bank of America exec can't find a use for blockchain that helps their banking customers (2019)
Today's Top Reads / Podcasts
Overnight Performance of Top 10 Currencies
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