SCI Daily: Bull-ish?
August 28, 2018
Bitcoin (BTC) rose last night after consolidating within a tight range. BTC broke out of a strong resistance at $6,800 and is making a bullish flag pattern on the shorter duration charts. Follow through buying may push BTC to $7,200 while a breakdown may see BTC come back to support at around $6,200-$6,500.
Support levels are at $6,500 and $6,200 while resistance levels are at $6,800 and $7,200
BTC/PHP: 372,530 / 355,890
USD/PHP: 53.75 BTC
Market Cap: $119B
Crypto Market Cap: $224B
News:
Roughly 20,000 ETH (approx. $5.5M), received from Ethereum’s genesis block, has been transferred to popular cryptocurrency exchange Bitfinex. The whale was a recipient of over 314,000 ETH, and had already previously sent out upwards of 100,000 ETH out of his wallet. If this person decides to sell off his bags, this could mean year-to-date lows for the second-largest cryptocurrency.
India’s Central Bank, the Reserve Bank of India (RBI), has created a new unit dedicated to the developing regulations, for the blockchain and cryptocurrency space. The department, launched just a month ago also has the mandate to “research and possibly draft rules” for these technologies.
Samsung SDS, in collaboration with the Korean Federation of Banks, has created a new platform based on blockchain technology for South Korean banks. The new platform, named BankSign, is designed to simplify interactions between banks’ mobile systems. Samsung representatives claim that this platform is the first blockchain tech based application for banking services.
Singapore is considering the use of blockchain technology for selling tokenized securities. According to a press release last week, The Monetary Authority of Singapore (MAS) and Singapore Exchange (SGX) are working with Anquan, Deloitte and Nasdaq to create a Delivery versus Payment (DVP) platform for tokenized assets. The platform will allow different parties to trade fiat for assets utilizing a smart contract network.
Events:
A Stellar App
Wednesday, August 29 from 6PM to 9PM
QBO Innovation Hub, 1209, 375 Sen. Gil J. Puyat Ave
A meetup to explore the technical capabilities of the Stellar network. These sessions will be beneficial should you plan to start on your own project or would like to work for a company aspiring to innovate blockchain projects.
Blockchain and the Law Series: Part 1 — Modes of Regulation
Thursday, August 30 from 7PM to 9PM
Cerebro Labs, 3rd Floor Universal Re Building 106, Paseo de Roxas Street
Manila Ethereum will hold a lecture series to discuss the legal, regulatory and policy implications of open blockchain networks and the various use cases, activities and applications that are built on top of Distributed Ledger Technologies (DLT).
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