Market report

BRING HOME THE PROFITS

London Block Exchange

1st May 2018

Kraft Heinz is playing with different kinds of crypto use cases

BRING HOME THE PROFITS

Kraft Heinz is playing with different kinds of crypto use cases

The top 100 projects fell 5.5% over the last day, with only 6 projects in the green, including Verge and Bitcoin Private that are controversial projects within their communities. We can all, however, rejoice at the fact that a major NASDAQcompany seems bullish on cryptoassets.

Oscar Mayer is a well-known American meat company owned by Kraft Heinz. It has just announced ‘Bacoin’, which is now equal to 10 slices of Oscar Mayer’s bacon. It was worth only 3 slices yesterday! We definitely recommend taking a look at the project aimed at incentivising consumers to promote the brand via social media and email.

On a more serious note, this dip seems to be derived by everyone’s hesitation due to bitcoin not breaking out above this week’s symmetrical triangle and therefore, deciding to take some profits. This led to a ‘mini alt season’ cool down. Even EOS lost over 16%. Take note of what can happen to altcoins whenever bitcoin starts doing its bull-dance. For now, look out for some technical trading wisdom. Some say that £6.3k ($8.7k) is the next support level.

TAKE AWAY THE MISINFORMATION**

Bullish on CTT — ‘Critical Thinking Token’ — as misinformation continues

Japan was the first country to officially recognise cryptoassets and approve positive legislation. However, these days Japan’s Financial Services Agency is discouraging exchanges from listing Monero, Zcash and Dash — popular privacy cryptocurrencies. Remember that saying; ‘not speaking out when they first came for privacy projects?’

This move came after the FSA was able to persuade Coincheck, an exchange which was hacked last January in what was dubbed ‘the biggest theft in history’, to drop support for those alts. However, ironically, by the FSA’s criteria, any project that scales well will be prohibited. Note that once regulators also tried to ban today’s standard encryption techniques.

Lastly, a security firm discovered a critical vulnerability in EOS, and claimed that the smart contract platform’s flaw was similar to the ‘batch overflow’ bug affecting some ERC-20 tokens last week. Dan Larimer, EOS’ CTO, was prompt to debunk the claim and called out the irresponsible reporting we’re unfortunately getting accustomed to in this industry.

WHAT TO LOOK OUT FOR

Filter the noise and stay ahead of the pack
  • Bitcoin’s volatility is showing a pattern. Interestingly, 30-day BTC/USD volatility peaks a few days after periods of ‘extreme certainty’. Learn all about it in this thread.

  • Speculation around a top Wall Street bank about to announce crypto trading is growing. A rumour for now but some believe such reports come up for a reason.

  • Litecoin’s founder announced he would eventually “step away” from the popular fork of Bitcoin in case that helped the project become more decentralised. All about it here.

WHAT TO READ TODAY

An insight a day could give you more profits to play
  • NASDAQ
  • Kraft Heinz
  • Oscar Mayer
  • bacoin
  • EOS
  • bitcoin
  • BTC
  • ERC20
  • FSA
  • monero
  • zcash
  • dash
  • litecoin
  • charlie lee
  • wall street
  • Quartz
  • Crypto NYC