SCI Daily: Morning pump!

August 22, 2018

Bitcoin (BTC) pumped this morning right after crypto derivatives platform Bitmex went on scheduled maintenance, disallowing traders to short BTC and other crypto. Bitmex’s platform offers crypto swaps and futures which allows traders to short crypto and trade on margin. Blogger Bitfinex’d (@bitfinexed) also pointed out that $100 million worth of USDTs entered the market this morning.

Support levels are at $6,200 and $5,800 while resistance levels are at $6,800 and $7,200.

BTC/PHP: 376,030 / 349,460
USD/PHP: 53.65
BTC Market Cap: $117B
Crypto Market Cap: $222B

News:
Apple co-founder Steve Wozniak announced that he has plans to get involved with a blockchain startup, in what is a first for him. In an interview at the ChainXchange conference in Las Vegas, he praised the technology for being independent and valuable, and also compared the Ethereum platform with Apple’s own App Store.

Lumenlab, a Singapore-based digital innovation center, is testing a blockchain-enabled insurance product for gestational diabetes sufferers. Dubbed Vitana, it is a parametric, automated insurance solution that is designed to integrate electronic medical record (EMR) data in order to trigger an automatic payout upon diagnosis, effectiiely removing the need for manual policy claims.

Since the acquisition of BitTorrent by Justin, at least 5 employees have left the peer to peer network platform. Justin Sun, the founder of the Tron cryptocurrency, reportedly has a different direction for the platform which has resulted in disagreement with many of its employees including a few senior level staff. According to LinkedIn, the company is hiring around 30 individuals for various roles.

BitOasis, a cryptocurrency exchange based in Dubai, is working with the Gulf Cooperation Council (GCC) to develop a regulatory framework that will benefit both the industry and its investors. The GCC is a union of various Arab states of the Persian gulf that include Bahrain, Kuwait, Qatar, Saudi Arabia, Oman, and the UAE.

Events:

A Stellar Craft & Crypto
Thursday, August 23 at 7PM, The Bottle Shop, BGC
An informal monthly meet-up dedicated to crypto talk, topped off with some delicious craft beers. This means no presentations, no structure, just friendly discussions and networking. So kick back, relax, and enjoy the night, as we get on this 🚀🚀🚀 together.

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