Happy Humpday Blockfolians,
Yesterday, this newsletter was all about how a bevy of on-chain analysis firms were showing that the carnage of bitcoin selling seemed to reflect everything sold. Over the last couple days, we’ve started to see something of a shift. Bitcoin has remained largely flat while stocks and other markets have continued to lose.
The takeaway probably is less about any one bitcoin narrative’s correctness, and more about the fact that we are in completely uncharted waters, in an extremely vast moving environment. In that context, simply trying to understand what the evidence is showing might be enough of a task.
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Highly Relevant Reading
Adapting to more nerve-wracking times, BitGo is increasing its insurance fund by $100m
Coronavirus fears are creating occasion for new surveillance tech, including one Israeli company with ties to the crypto markets
A new crypto-collectible marketplace goes live with backing from Gemini
Tezos co-founder is back with a new project: a crypto competitor to Hearthstone and Magic the Gathering
USDC is officially part of the MakerDAO collateral set and there is an active discussion about whether it threatens the decentralization of the network
Maker @MakerDAOUSDC can now be used to open Maker Vaults in order to generate Dai. It's the third collateral approved by Maker governance, along with ETH and BAT. More info & USDC risk parameters: https://t.co/jYUtOfI1cX
An interesting analysis of what went wrong with exchange systems during last week’s massive BTC draw down
A Really Big Number We Should Be Paying Attention To
That’s the size of a new tokenized whiskey fund from Wave Financial. Have to say…the prospects for a booze fund seem a lot better right now than they did a couple weeks ago.
Stay safe and stick together out there.