Daily Digest 8/27
Insight on the biggest news and charts that provide context for whats going on in the market today.
Nomura, Japans largest brokerage is now offering subscriptions to a Luxury Italian delivery service which will allow people to buy and trade dishes in the next year.
Tokens began selling Wednesday for four high end ‘food parcels’ a year from Masayuki Okuda who is an award winning Japanese chef.
Annual subscriptions cost 60,000 Yen ($546) and an initiation fee of 3,000 Yen ($27).
Nomura is also working with other firms to tokenize things such as corporate bonds and real estate. They also started a pilot last year selling tokens that allowed owners to participate in a project to make soups with asparagus grown by Nomura Farm Hokkaido Co.
Nomura Offers Pizza and Pasta for Tradable Crypto Tokens
The SEC has signed a deal with the blockchain company AnChain.AI for $125,000 plus 5 separate one-year $125,000 options to monitor the DeFi space.
AnChain is an artificial intelligence and machine learning blockchain that primarily tracks illicit activity on crypto exchanges.
This comes after an August interview with SEC chairman Gary Gensler which he stated that DeFi operations will not be immune to SEC oversight.
AnChain also announced today a $10 million Series A round of funding led by an affiliate of Susquehanna Group, SIG Asia Investments LLP.
AnChain.AI is also being used by centralized crypto exchanges and traditional finance companies.
SEC Signs Deal To Investigate DeFi Transactions
Cuba has announced that they are planning to recognize crypto as legal tender and regulate the payments.
The Caribbean central bank will establish rules for mainstream transactions in crypto and authorities are expected to give licenses to businesses based on their crypto services.
The push for this may come from the fact that Cuba had to temporarily stop accepting cash bank deposits from the US dollars because of tighter restrictions from the Trump administration.
A big benefit of making BTC legal tender is that it will reduce overall remittance costs.
Cuba set to recognize and regulate cryptocurrency
By looking at the weighted social sentiment we can see when a project or the market in general is leaning towards euphoria or fear. Looking at the last three weeks or so we social sentiment indicated euphoria and we saw a spike in the price of ETH. More recently; however, we can see that sentiment has started to shift negative and price has gone a bit stagnant.
BTC transaction fees on the 7 day moving average are charting out to look very similar to the peak and end of the bull run in 2018. It is possible for this to be a bearish signal but the one difference from 2018 to now is the large amount of institutional money that has entered the market in the past year. These institutions have no reason to sell which will keep the price afloat.
