OSL Trader View - 7 March 2019

BTC got a 4.5% lift overnight and back to throwing distance away from $3900 and the mini-rally has put green on the screen. Exchange tokens spearheading this spurt.

BNB +13.1%, +40% over the past four days. The rally was triggered by the positive takeaway published by Multicoin Capital 26th Feb and has lifted the other exchange tokens in sympathy. 

The bellwether in this sector is also benefitting from yet another project announced by Binance Launchpad and in due course, listed on the exchange: Celer. Public sale to commence 19th March. Judging by their track record, expect this project to moon on open but the catch: the offer price will be a 56% discount vs. private sale price of $0.015 or 2 cents more than the seed sale price $0.0065. The public offering is targeting a $4mn raise. Early investors surely must have mixed feelings… The Argentinian government seems not to care as they commit to matching Binance’s commitment up to $50k per project (max 10/yr) over the next four years. 

Separately CZ has finally spoken out against the complaints on no heads for the projects for tokens delisted and has quelled speculation re: BNB dividend payout as that would imply being a security. 

Hate to say it but this QuadrigaCX is increasingly looking like an inside job. The exchange made it on the map following the freak death of founder Gerald Cotton - the only person with access to the exchanges private keys. Well these keys are essentially useless as their wallets have been found to have been emptied out to 14 other accounts “created outside the normal process.” Not your keys, not your coins… 

• Korean Ministry of Science & ICT delays crypto remittance sandbox… again
• SWIFT completes DLT PoC on Hyperledger Fabric 1.0
• Peace Bridge launches TETC connecting the fork back to the OG.
• DX.Exchange adds tokenised ETF to lineup
• Caitlin Long argues Wyoming is the only US State with a comprehensive legal framework.
• Starkware launches StarkPay arguing superiority over Lightning due to offline capabilities. 
• Blockfi offers 6.0% interest for BTC & ETH deposits
• Nevada Senate Committee on Judiciary holds hearings for bills SB162 & SB163 aiming to define blockcian & legitimise records stored on the blockchain 
• Tagomi Holdings attracts Pantera & Paradigm into latest capital raise bringing total to US$28mn.
• Dash Core Group downsizing 8% of staff 
• Crypto Facilities 5x increase in trading volume post announcement of being acquired by Kraken.
• Blockinmo, Elea labs & Swiss Crypto Tokens Ltd. conducts Switzerland’s first real estate transaction on a blockchain.  
• Malta Digital Exchange moves offices to Malta Stock Exchange

May trend be your friend… happy trading!