EVOLUTION-NINJA

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Envelope-to: ds@e24.com.au
Delivery-date: Fri, 19 Mar 2021 03:15:13 +1100
Date: Thu, 18 Mar 2021 16:13:54 +0000
Message-Id: <20210318161354.1.22F39B0E186AB9C1@cio6690.unboxed.uphold.com>
To: ds@e24.com.au
From: Uphold Unboxed <newsletter@unboxed.uphold.com>
Subject: Across The Board, Crypto Dazzles
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*************************************
Crypto becomes shining city on a hill
*************************************

MOVERS
------

8am EST 18th March 2021

Crypto: Biggest price rise
FIL16.33%

Equities: Biggest price rise
ROKU3.45%

Bitcoin
$58,687.60

Crypto: Biggest price loss
UPCO2-2.18%

Equities: Biggest price loss
XLU-1.07%

XRP
$0.47

Crypto: Biggest vol increase*
UPEUR7,933.25%

Equities: Biggest vol increase*
AAPL231.96%

Tesla
$695.27

Crypto: Biggest price rise
FIL16.33%

Equities: Biggest price rise
ROKU3.45%

Bitcoin
$58,687.60

Crypto: Biggest price loss
UPCO2-2.18%

Equities: Biggest price loss
XLU-1.07%

XRP
$0.47

Crypto: Biggest vol increase*
UPEUR7,933.25%

Equities: Biggest vol increase*
AAPL231.96%

Tesla
$695.27

*Volume bought in USD over the past 24 hours on the Uphold platform

WHAT'S UP
-------------

Wide Swath Of Cryptosphere Takes Off
------------------------------------

The Fed vowed not to raise rates, Morgan Stanley green lit crypto exposure =
for wealthy clients, China's Meitu bought a boatload of Bitcoin and Ethereu=
m and then, supernaturally, the sleepy cryptoscape turned into La Guardia a=
irport at Thanksgiving weekend =E2=80=93 lots of flights, some covering lon=
ger distances relative to others.

BTC shot up back above $59K. As of this morning, at about 8:30 a.m. (EST), =
BTC sat around $58,400, having risen 6% over 24 hours. Cardano (ADA) popped=
 15%. Chainlink (LINK), which just got its own Grayscale product, rose 8%.

WHAT'S DOWN
---------------

XLM, XRP Vying For Remittance Domination =E2=80=93 If Either One Can Get Ab=
ove Fifty Cents
---------------------------------------------------------------------------=
---------

In the battle to control the future of how small amounts of stored wealth w=
inds up getting transferred around the world, two coins come to mind. One o=
f them is Stellar Lumens (XLM) which rallied in February but cooled off sin=
ce. The other is XRP. It has followed a similar path.

XLM has declined 18% over the past 30 days.

XRP has lost 13% in that time.

Okay, so they are both down over the past four weeks, tied to the remittanc=
es space, and priced in the forty cent neighborhood, and, yes, they both ha=
ve an X in their symbol but =E2=80=A6 bear in mind some differences.

XRP's market cap, at $21 billion, is more than twice the size of XLM's. And=
 there's the whole Ripple regulatory battle for survival thing. Also, as fa=
r as some added contrasts, it has been said XRP was built for financial gia=
nts, while XLM caters more to the common man.

If there is potential for either (or Ether, for that matter) to revolutioni=
ze peer-to-peer transactions, the question becomes whether to pursue that v=
ia disruption of the old centralized guardians of the financial galaxy, or =
by seeking to work alongside them, leveraging centralized enormity but with=
 a more level micro-payment field as an end justifying means, which could b=
e construed as anathema to crypto.

"XLM could be highly useful when it comes to international funds remittance=
," InvestorPlace's Thomas Neil said in an article ( https://www.nasdaq.com/=
articles/stellar-lumens-remains-a-possible-long-term-winner-2021-03-15 ) re=
cently posted on Nasdaq.com.

But its remittance use hasn=E2=80=99t yet become widespread. And a bigger r=
eason XLM has not truly taken off, Neil said, is the current lack of instit=
utional interest in it.

WHAT'S NEXT
---------------

New Crypto Funds Are Born, Conceived
------------------------------------

In what could be a monumental moment of validation for altcoins =E2=80=93 o=
r something deeply unsettling =E2=80=93 Grayscale Investments has just laun=
ched five new investment products for: Basic Attention Token (BAT); Chainli=
nk (LINK); Decentraland (MANA); Filecoin (FIL) and Livepeer (LPT); the latt=
er has seen its price jump 280% since yesterday.

These mark the crypto asset manager's first new funds since 2019. In decidi=
ng which altcoins to securitize and package into trust funds that it runs, =
Grayscale has said it uses a =E2=80=9Crobust process,=E2=80=9D assessing po=
tential investor demand, as well as the integrity of underlying protocols. =
MANA being up 200% in two weeks was not cited as one of the motivating fact=
ors.

=E2=80=9CAt any one time, we=E2=80=99re probably maintaining a list of what=
 could be 30 or 40 products that we=E2=80=99re interested in,=E2=80=9D Gray=
scale CEO Michael Sonnenshein has said.

For the past several years, with the Securities and Exchange Commission blo=
cking creation of Bitcoin ETFs, Grayscale=E2=80=99s Bitcoin Trust vehicle (=
which publicly trades as a statutory trust in OTC markets) became the only =
option for investors looking for easy exposure to BTC.

With new SEC leadership coming in, some firms, such as VanEck, are again se=
eking permission to launch a Bitcoin ETF.

The prior SEC regime was asked nine times to approve various Bitcoin ETF pr=
oposals. A fool=E2=80=99s game, as it turned out.

All were rejected ( https://www.youtube.com/watch?v=3DbEOl38y8Nj8 ).

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