Cryptonaire Weekly Magazine Edition 122

CRYPTONAIRE

WEEKLY CRYPTO investment journal

CONTENTS

WEEKLY CRYPTOCURRENCY MARKET ANALYSIS...............................................................................................................5 TOP 10 COINS........................................................................................................................................................................................6 Top 10 Coins by Total Market Capitalisation ...................................................................................................................6 Top 10 Coins by Percentage Gain (Past 7 Days) ...........................................................................................................6 Top 10 Coins added to Exchanges with the Highest Market Capitalisation (Past 30 Days) ........................7 CRYPTO TRADE OPPORTUNITIES ..............................................................................................................................................9 ADVERTISE WITH US........................................................................................................................................................................14 ADVANCEMENTS IN THE CRYPTOCURRENCY WORLD ..................................................................................................15 Edward Snowden ‘Felt Like Buying Bitcoin’ While Traders Hunt for the Market Bottom...................................15 Bitcoin Miner Stumbles Upon $8M Stash From 2010, Sells Before Crash ..............................................................16 Bitcoin Platform Bakkt Gets $300 Million Boost From Microsoft, Pantera to Launch..........................................17 Brave files GDPR complaint to end Google’s ‘data free-for-all’....................................................................................18 Toyota Blockchain Lab To Focus On Expanding Partnerships To Drive DLT Adoption.......................................19 Binance Launches $50M ‘Blockchain for India’ Fund ...................................................................................................21 Coinbase’s Chief Legal Officer Resigns to Oversee US National Banking System.............................................22 Shell Subsidiary Creates Virtual Power Plant Using Blockchain in Germany For Renewable Energy ........23 Advanced botnet attack caused $1.2bn in Bitcoin longs liquidation on BitMEX..................................................24 Vertalo to Tokenize 22 Securities Worth $200M on Tezos Blockchain..................................................................25 PLATINUM PROJECT INFORMATION.......................................................................................................................................26 Upbot................................................................................................................................................................................................26

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Editor’s Letter

The coronavirus pandemic has resulted in a state of panic across the world. This has resulted in a sharp selloff in the equity markets, which have seen their worst corrections in decades. The commodity markets and even gold have not been spared in the carnage, which shows that the traders are not differentiating between risky assets and safe havens.

The crypto markets, barring the massive sell-off on March 12, have been holding up quite well. This shows that long-term investors believe that this asset class will benefit the most as investors lose confidence in the central banks. In the short-term, cryptocurrencies might witness sharp volatile moves but this fall is one of the best opportunities to buy for the long-term. The traders can wait for a bottom to be confirmed before buying.

OUR BLOG ARTICLE FOR THIS SPECIAL ISSUE IS ABOUT UPBOT. UPBOTS MISSION IS TO BE THE PREFERRED PLATFORM FOR BOTH BEGINNER AND PROFESSIONAL TRADERS Though the bulls held the support line of the descending channel from March 9 to 11, they could not achieve a strong rebound. This invited selling by the aggressive bears and on March 12, Bitcoin broke below the descending channel and the next support at $6,526.

The panic-driven selling dragged the cryptocurrency to $3,858 on March 13 where buyers stepped in. This is a positive sign as it shows demand on strong dips. However, the relief rally from the lows has not been able to scale and sustain above $6,000. This shows that investors are accumulating on dips and are not buying at higher levels.

Lastly please check out the advancement’s happening in the crypto currency world and project UpBot. UpBots mission is to be the preferred platform for both beginner and professional traders looking for tools and interfaces for portfolio management, advanced trading features, and easy to use access to third party exchanges.

UpBots treats the newcomers and expert traders individually and differently: everyone gets the tools and directions they need.

Enjoy the issue!

Karnav Shah Chief Editor



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CRYPTONAIRE WEEKLY After mentoring thousands of crypto traders around the globe, we have culminated all of the consistent and ongoing requirements of crypto-traders into one place.

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WEEKLY CRYPTOCURRENCY MARKET ANALYSIS Hello, crypto traders welcome to this week’s 122nd edition of Cryptonaire Weekly. The overall Cryptocurrency Market Cap stands at $151 Billion. We have seen a $76 Billion decrease in the Market Cap since last week. Bitcoin price is currently around $5285 from $7943 last week and has decreased by 33.46% and Ether price is now at $118 from $204 last week and has decreased by 42.16%. The current market cap for bitcoin is $97 Billion, and for Altcoins, the current market cap is $54 Billion.

The coronavirus pandemic has resulted in a state of panic across the world. This has resulted in a sharp selloff in the equity markets, which have seen their worst corrections in decades. The commodity markets and even gold have not been spared in the carnage, which shows that the traders are not differentiating between risky assets and safe havens.

Percentage of Total Market Capitalization (Dominance)

Bitcoin

63.79%

Ethereum

8.53%

To counter the spread of the virus, various cities and in some cases, the whole nation has been locked down.

This will put huge economic stress on the economy and some analysts expect that a recession is likely. The US Federal Reserve has launched a massive quantitative easing program and resorted to two emergency rate cuts this month. However, the equity markets have not obliged with a reversal.

XRP

4.29%

Tether

3.03%

Bitcoin Cash

2.21%

Litecoin

1.48%

This shows that the markets either want more stimulus or are not convinced that this is the right approach to tackle the current situation. While the added stimulus might provide some respite in the short-term, it is likely to pose a serious problem in the future, which might lead to another crisis.

Bitcoin SV

1.44%

EOS

1.21%

Binance Coin

1.06%

The crypto markets, barring the massive sell-off on March 12, have been holding up quite well. This shows that longterm investors believe that this asset class will benefit the most as investors lose confidence in the central banks.

In the short-term, cryptocurrencies might witness sharp volatile moves but this fall is one of the best opportunities to buy for the long-term. The traders can wait for a bottom to be confirmed before buying.

Tezos

0.67%

Others

11.73%

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TOP 10 COINS Top 10 Coins by Total Market Capitalisation

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Top 10 Coins by Percentage Gain (Past 7 Days)

Top 10 Coins added to Exchanges with the Highest Market Capitalisation (Past 30 Days)

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CRYPTO TRADE OPPORTUNITIES BITCOIN - BTC/USD

Though the bulls held the support line of the descending channel from March 9 to 11, they could not achieve a strong rebound. This invited selling by the aggressive bears and on March 12, Bitcoin broke below the descending channel and the next support at $6,526.

The panic-driven selling dragged the cryptocurrency to $3,858 on March 13 where buyers stepped in. This is a positive sign as it shows demand on strong dips. However, the relief rally from the lows has not been able to scale and sustain above $6,000. This shows that investors are accumulating on dips and are not buying at higher levels.

The bears again attempted to sink the BTC to USD pair on March 16 but we like the way the price rebounded off $4,432.30 levels. We expect the bulls to buy on dips closer to $4,500 and the bears to sell on minor rallies to $6,000. This points to a possible range-bound action for the next few days.

A consolidation near the lows is a part of the bottoming process, which will complete on a breakout above $6,000. Long-term investors can accumulate on dips below $5,000 in phases. However, keep the position size small as the trend remains down and another leg down cannot be ruled out.

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ETHEREUM - ETH/USD

Ether held the 200-day SMA until March 11 but the bulls could not achieve a strong rebound off it, which suggests a lack of buyers at higher levels. On March 12, the biggest altcoin succumbed to selling pressure and plunged 43.32% in a single day.

This was followed by further selling on March 13 that dragged the price to $90, however, buying emerged at lower levels, which helped Ether stage a relief rally that topped out at $148.

For the past three days, the ETH to USD pair has lost some ground, which shows a lack of buyers at higher levels. Currently, the bulls are attempting to keep the price above $100. If this support breaks, the decline can extend to $80.

Alternatively, if $100 support holds, the price might move up to $150 and remain range-bound between these levels for a few days. We suggest traders wait for a reversal pattern to form before initiating long positions.

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RIPPLE - XRP/USD

The $0.20-$0.176 support zone cracked on March 12 as XRP plummeted to $0.12825. This was followed by further selling on March 13 when the altcoin made a new multi-year low at $0.11004.

Buying at $0.11004 helped stage a recovery that reached $0.16759 and the price re-entered the channel. However, the bulls have not been able to build upon this pullback. This shows a lack of buyers at higher levels.

The bears attempted to sink the price again on March 16 but the bulls bought the dip to the support line of the descending channel. This is a positive sign as it shows that the bulls are not waiting for a deep correction to step in.

A break above $0.16759 will be the first sign that bulls are back in the game. We suggest traders wait for the price to breakout out the descending channel before buying.

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BITCOIN CASH - BCH/USD

The failure of the bulls to push the price back above the 200-day SMA and the neckline of the head and shoulders (H&S) pattern attracted sellers. Bitcoin Cash plunged 45.05% on March 12. It made a low of $133.67, which is close to $95.85, the target objective of the H&S pattern.

For the past three days, the price has been trading inside the $133.67-$200 range. A breakout of this consolidation can carry the altcoin to the 20-day EMA, which is likely to act as a stiff resistance.

On the other hand, a break below $133.67 will resume the downtrend and can sink the price to $95.85. As the trend is down, we suggest traders wait for a reversal pattern to form before initiating long positions.

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LITECOIN - LTC/USD

Litecoin has dethroned Bitcoin SV as the fifth cryptocurrency by market capitalization. On March 12, the altcoin also sold-off along with the overall market and plunged below critical support levels.

On March 13, buyers finally stepped in closer to $25 levels. However, the relief rally fizzled out at $41.31, which shows a lack of buyers at higher levels. Since then, the price has been trading inside the intraday range formed on March 13.

The attempt by the bears to resume the downtrend on March 16 found buyers at $29.17, which is a bullish sign. This shows that traders are not waiting for a deeper correction to start buying. A break above $41.31 will be the first sign that bulls are back in the game. We will wait for the price to scale above the 20-day EMA before recommending a trade in it.

The next support on the downside is the 200-day SMA at $160. We expect the bulls to defend this level aggressively. The critical level to watch on the upside is $236. A break above this level will signal accumulation by stronger hands at lower levels.

Therefore, we might suggest long positions after the price sustains above $236 for three days.

Conversely, if the bulls fail to defend the 200-day EMA, the altcoin can plummet to $120.

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ADVANCEMENTS IN THE CRYPTOCURRENCY WORLD Edward Snowden ‘Felt Like Buying Bitcoin’ While Traders Hunt for the Market Bottom

Following three consecutive days of losses shedding $50 billion off the cryptoconomy, digital currency markets lost another $44 billion in a matter of hours on March 12. Not only did ‘Black Thursday’ wreck traditional markets, but gold and bitcoin felt the brunt as well. Amidst the sell-off, the whistleblower Edward Snowden said that he “felt like buying bitcoin” as he believes the price drop was invoked by “panic” rather than fundamentals.

Whistleblower Edward Snowden ‘Felt Like Buying Bitcoin’ on Black Thursday Calling the Sell-Off ‘Too Panicky’ The cryptoconomy was punched directly in the gut on March 12, as BTC prices slid from $7,648 per coin to a low of $3,870 on Thursday afternoon. The drop was the biggest in 2020 and the lowest dip BTC markets have seen since March 2019. Crypto prices have rebounded a hair since the market rout on Thursday and BTC is currently hovering between $5,300-5,600 per coin. During the course of ‘Black Thursday,’ many investors who got into crypto early said that even they were shaken by the swift downfall.

Read more...

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Bitcoin Miner Stumbles Upon $8M Stash From 2010, Sells Before Crash

A former Bitcoin miner hobbyist has stumbled on an old wallet containing 1,000 Bitcoins, in addition to many Bitcoin forks.

On March 10, a thread was posted to Bitcointalk by a self-described “newbie” making their first return to crypto after a “long hiatus,” seeking advice on accessing an old Bitcoin stash.

Former GPU hobbyist miner discovers wallet on a thumb drive The user “whoamisoon” claimed to have mined some Bitcoin “a long time ago” using a GPU and had recently located the wallet.dat file on a USB storage device.

The former-miner sought advice on how to move the Bitcoins to sell, also asking if they held the same quantity of Bitcoin Cash in the wallet, and how they might be able to sell the BCH. The user was pleasantly surprised to discover that they would be able to access a myriad of forked coins, writing:

“Didn’t know there have been so many forks! Awesome! Love it!”

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Bitcoin Platform Bakkt Gets $300 Million Boost From Microsoft, Pantera to Launch Consumer App Targeting Trillion-Dollar Industry

Despite the market downturn that has watched Bitcoin slide 50% from its 2020 high of over $10,000, Bakkt has just announced a Series B funding round. The Bitcoin futures platform has raised $300 million from several participants, including its parent company Intercontinental Exchange, Microsoft’s M12, PayU, Boston Consulting Group, Goldfinch Partners, CMT Digital and Pantera Capital.

In 2019, Bakkt rolled out an end-to-end regulated market for Bitcoin, along with an institutional custody offering, after the launch of its physically-backed Bitcoin futures.

Bakkt is now focusing on consumer products and services to push digital assets into the mainstream.

Users will be able to convert a wide variety of digital assets into cash to make rewards points, ingame assets, merchant stored value and cryptocurrencies more accessible and easy to spend.

According to Bakkt, these assets represent $1 trillion in consumer spending power, and its new app will allow users to combine their rewards, miles, loyalty points, Bitcoin and crypto into a single digital wallet.

“In just a few taps you can use those assets to shop at your favorite merchants, send them to family and friends, or convert them to cash. We believe that you hold more value than you realize and we’re here to help you track, spend and send your digital assets however you want.”

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Brave files GDPR complaint to end Google’s ‘data free-for-all’

Crypto friendly browser Brave today filed a formal complaint against its competitor, Google, the latest in a several years-long campaign to topple the tech giant’s hegemony.

Brave, which has offices in San Francisco and London, claims that Google has infringed upon Europe’s foremost data protection law, the GDPR. According to Brave Chief Policy Officer Dr. Johnny Ryan, enforcement of the complaint “would be tantamount to a functional separation of Google’s business.

Where Google’s advertising technology collects excessive information about its users, Brave’s browser—a fork of the Google Chromium project—doesn’t track cookies by default. Brave claims its technology serves ads without breaching personal information. In addition, Brave’s users can earn crypto for watching advertisements, in the form of Basic Attention Tokens (BAT).

Brave argues that Google has violated the “purpose limitation” principle, which requires organizations to only use data for a specific purpose. For example, collecting information about your whereabouts on Google Fit must only be used to encourage you to exercise more.

Google, according to evidence released by Brave today, has an “internal data free-for-all,” where it “reuses our personal data between its businesses and products in bewildering ways that infringe the purpose limitation principle.”

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Toyota Blockchain Lab To Focus On Expanding Partnerships To Drive DLT Adoption

Japanese automaker giant Toyota has announced various blockchain enterprises which are meant to digitalize and revolutionize the automotive sector.

As per a press statement released by the company, Toyota Blockchain Lab has conducted various successful trials where one of them aims at tokenizing the vehicles as well as ownership rights within the blockchain technology.

Toyota Blockchain Lab was started in April last year with the task of integrating blockchain within the giant Toyota’s infrastructure. The press release reiterated this initiative revealing that various enterprises are in the works while some collaborations are being forged.

At the moment, Toyota is utilizing blockchain technology for its clients as well as vehicle initiatives.

The company revealed the ‘value digitalization’ where the aim is to increase financing techniques through asset tokenization in both vehicles as well as owner rights. The press statement stated:

“TOYOTA BLOCKCHAIN LAB HAS BEEN EXAMINING PLANS FOR PROMISING APPLICATIONS FOR USE AND PROMOTING DEMONSTRATION TRIALS WHILE ACCUMULATING GROUP KNOWLEDGE. IT IS ALSO ENGAGING IN GLOBAL COLLABORATION WITH GROUP COMPANIES, INCLUDING TOYOTA RESEARCH INSTITUTE.” Read more...

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Binance Launches $50M ‘Blockchain for India’ Fund

Binance and its local subsidiary have set up a new fund to reinvigorate growth in blockchain startups in India following a Supreme Court decision to allow banks to service crypto firms.

Binance and India-based bitcoin exchange WazirX – which Binance acquired last November – announced Tuesday their new “Blockchain for India” fund would incubate and invest in local startups that contribute to the creation of a sophisticated cryptocurrency and blockchain ecosystem for the subcontinent.

The new fund comes weeks after the Indian Supreme Court lifted a central bank-imposed ban that prevented cryptocurrency businesses from accessing financial services. Some exchanges added support for bank account transfers within hours of the court ruling.

The new Binance-backed fund, which will make investments in both equity and token acquisitions, is especially interested in initiatives that help develop a full crypto market infrastructure for India, according to a press release. That could include fiat gateways, remittance platforms, stablecoin solutions and new applications for decentralized finance (DeFi).

The fund will make investments anywhere between $100,000 and $5 million.

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Coinbase’s Chief Legal Officer Resigns to Oversee US National Banking System

Amid an ongoing global health and financial crisis, Coinbase, one of the most popular cryptocurrency trading platforms in the United States, is losing another key executive.

Brian Brooks, Coinbase’s chief legal officer will resign from the company to join the Office of the Comptroller of the Currency (OCC), an independent banking regulator operating under the U.S. Department of the Treasury, the OCC announced on March 16.

Famous crypto skeptic Treasury Secretary Steven Mnuchin appointed Brooks According to the official announcement, Brooks has been designated as first deputy comptroller — the agency’s second-highest position — by Treasury Secretary Steven Mnuchin. Brooks will also serve as the OCC’s chief operating officer effective April 1, the announcement reads.

A known sceptic of cryptocurrencies like Bitcoin (BTC), Mnuchin outlined Brooks as a “strong leader with extensive experience in the financial services sector,” adding that he is excited to work together to foster the financial system and greater economic growth.

Coinbase is proud that their crypto-friendly legal officer will join the authority Coinbase said in an email to Cointelegraph that the company is pleased to know that their legal officer is joining the OCC to oversee the nation’s banking system, noting that Brooks will definitely bring a more friendly stance to crypto with him. Brooks has been leading Coinbase’s legal, compliance, government relations and global investigations groups since September 2018.

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Shell Subsidiary Creates Virtual Power Plant Using Blockchain in Germany For Renewable Energy

On March 12, the Royal Dutch subsidiary of Shell, Sonnen Group, made the announcement that it’s working with the Energy Web Foundation (EWF) to create in Germany a blockchain-based virtual power plant (VPP).

This VPP will include a distributed network comprising of energy storage systems for residential areas in order to reduce the curtailment of renewable energy in Germany and to absorb the excess of wind power. Since the country is going to shut down its nuclear energy and coal plants in the near future, the demand for green energy has increased. However, this led to renewable energy being wasted.

The VPP Will Absorb the Excess Wind Power The VPP built by Sonnen will support the power grid in the region by absorbing the excess of wind energy stored across Sonnenbatteries. Sonnenbatteries are networked by the use of distributed ledger technology. Sonnen will execute transactions through smart contracts, transactions for which the fees will be processed in the Dai (DAI) stablecoin. By averting the power grid’s overload, the VPP aims to make it easier for Germany to expand its production of renewable energy.

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Advanced botnet attack caused $1.2bn in Bitcoin longs liquidation on BitMEX

Bitcoin’s price struggle was further exacerbated last week when the coin plunged to $3,700 on BitMEX and caused almost $1.2 billion in long contracts to be liquidated on the platform. Now, the exchange’s CTO has revealed that the liquidations were caused by sophisticated botnet attacks that have been probing the platform for days and were responsible for another attack last month.

BitMEX addressing the huge Bitcoin drop on its platform In the midst of one of the bloodiest days in the crypto market, BitMEX, one of the largest cryptocurrency exchanges in the world, suffered a 25-minute outage. The Mar. 12 outage sent the price of Bitcoin spiraling down to as low as $3,700, wiping out $1,800 from its price in a single day.

According to data from Datamish.com, almost $1.2 billion in Bitcoin long contracts have been liquidated on Mar. 12.

Immediately after the event, rumors about the possible foul play from BitMEX began circulating in the crypto community, with many suspecting that the exchange itself could have caused the outage in order to curb further price drops.

Although BitMEX was quick to respond to the issue, assuring its users that the outage was caused by hardware issues with its cloud service providers, few were convinced that the explanation was as simple as that.

Sonnen is at Its 3rd Launch in Germany Micha Roon, EWF’s CTO, said that implementing a blockchain-based approach for reducing the wind energy curtailment is a futuristic vision. Meanwhile, the Sonnen eServices’ managing director, Read more...

Jean-Baptiste Cornefert.

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Vertalo to Tokenize 22 Securities Worth $200M on Tezos Blockchain

More than 20 companies expect to tokenize securities on the Tezos blockchain, representing some $200 million in deals, through a new partnership with fintech merchant bank DealBox and software provider Vertalo.

Announced Monday, the partnership will see Vertalo tokenize 22 different securities issued by DealBox’s clients, providing data management services and providing liquidity, Vertalo CEO and co-founder Dave Hendricks said. His firm is also a registered transfer agent with the Securities and Exchange Commission (SEC).

Hendricks told CoinDesk his company is essentially a technology provider for this partnership, while DealBox is the actual intermediary between the clients and the tech firm. This is preferable, he said, because, while Vertalo can work directly with issuers, the company prefers to work with “channel partners.”

The move more than doubles the number of customers using Vertalo for digital security issuance.

The company had 18 customers as of January 2020.

“The private assets are a bigger market than public securities. Because of the antiquated methods for asset management, and for ownership of private assets, owners of private assets cannot obtain liquidity,” Hendricks said, saying tokenizing might be able to boost liquidity.

Read more...

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PLATINUM PROJECT INFORMATION Upbot

Project Details: UpBots mission is to be the preferred platform for both beginner and professional traders looking for tools and interfaces for portfolio management, advanced trading features, and easy to use access to third party exchanges.

UpBots treats the newcomers and expert traders individually and differently: everyone gets the tools and directions they need.

Think of it as a one-stop-shop (trading supermarket) for all matters relating to trading, in the crypto but also in the long term in the Forex. UpBots is the first complete trading marketplace, offering trading tools, bots, strategies and trading courses into one single interface.

Upbots is developed by Solfin Consulting – an umbrella technology company that already includes a trading-signal channel (4c-Trading), the Canard COINCOIN website, and a comprehensive online training platform Brain Feed.

Upbots is offering to potential users of its platform the right to pre-purchase its UBX tokens through a Pre-sale. Upbots GmbH has received a no-action letter from FINMA, the Swiss Financial Market Supervisory Authority, recognizing that the UBXt token is a payment token under the proposed structure outlined in the letter and is not a security token.

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Roadmap:

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Token Structure:

Token Sale Stage:

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Core Team:

Benjamin DUVAL

Julien QUERTAIN

Ramzi HABIB

CEO

CFO

CTO

Angelique MASSOLO

Sylvain KUNTZ

Sally TEO

COO

Business Developer

Marketing Manager

Johannes SCHOSTER

Arnaud DEBLANDER

Mickaël MIKADO

Strategic Advisor

Business Developer

Developer

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Jean-Baptiste DEJONGHE

Theodore GALARIOTIS

Philippe DE RIDDER

Community Manager

Advisor

Advisor

Alexandre DERRIEN

Hojung LEE

Advisor

Advisor

More Information: Token Name: UBXt Type of token: ERC20 – Utility Token Token price, USD: 0,01 USD / UBXt Website: https://upbots.io/ Email: contact@upbots.io Telegram: https://t.me/Upbots_announcement Twitter: https://twitter.com/UpBots_Token Facebook: https://www.facebook.com/UBXtoken/ LinkedIn: https://www.linkedin.com/company/upbots/about/ Instagram: https://www.instagram.com/upbots_ubxt/

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