Gold down. Stocks down. Oil down. Bitcoin flat.

Maybe the safe haven narrative isn't off after all?

Happy Humpday Blockfolians,

The Lede

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.

Enjoying Blockfolio’s Market Refresh? Sign up to have it delivered every day.

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

Community Commentary

USDC is officially part of the MakerDAO collateral set and there is an active discussion about whether it threatens the decentralization of the network
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.

Final Thought

Stay safe and stick together out there.