Messari's Weekend Reads - Issue #42 😎
reading, sleep, self-care, and Messari Pro!
|Messari Research||Sep 6, 2019|
Your daily snapshot from our OnChainFX markets dashboard.
Earlier this week we released the new Messari Pro Screener and have been blown away by the number of people that signed up. For those that have joined Pro, we thank you from the bottom of our hearts.
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Messari’s weekend reads:
A conversation with Eric Tymoigne on MMT vs SMT - MacroMania
Is Ethereum the AOL of crypto? - Albert Wenger
ETH is money (and why it matters) - The Defiant
Loose Nukes - Council on Foreign Relations
The Joel Test: 12 steps to better code - Joel Sposky
Hedera Hashgraph — Time for some FUD - Eric Wall
Bitcoin in a deflationary age - Kevin Virgil
Lessons from Minecraft: Achieving alpha with Non-Fungible Tokens (NFTs) - Andrew Steinwold
Information Asymmetry in Crypto - jonathanjoseph
Over the last few weeks our community analysts have been hard at work building out the “Investopedia” of crypto. More than 80 pages have been completed with many with additional boards to take your learning to the next level.
We have big things in store for our analysts, and are excited for what’s to come! If you’re interested in joining email firstname.lastname@example.org with some examples of work you’ve written.
Across projects on the Messari Registry there were a few significant updates this week. Check them out on our weekly updates board and remember to create and share your own boards for a chance to be featured in Monday’s newsletter.
Ryan will be leading a panel on Market Infrastructure and Data Transparency on September 17, 2019 at the second installment of The Path Forward for Digital Assets in NYC. Check out the event here.
Jack will be at the CoinAlts Fund Symposium in Chicago on September 26. If you will be at the event let us know on Twitter.
Have a good weekend y’all.
- The Messari Team
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Messari Compression Algorithm
Content and thoughts from around the web as summarized by the Messari team.
💻 [Messari Research] Returns of the top 100 assets by GitHub commits
To assess a correlation between developer activity and price returns, we looked at the top 100 cryptoassets ranked by the number of GitHub commits over the last year. Segregating those 100 assets into quartiles based on total commits we found the top 25 outperformed the rest.
The bottom quartile appears to have outperformed the prior two, however with a mean return of -46%, it was not statistically significant. In other words, based on the high degree of variability in cryptoasset returns, the anomaly can be explained by randomness whereas the -27% return of the first quartile cannot based off of the t-test for statistical significance.
It should be noted GitHub commits are an imperfect measure of developer activity since the metric can be gamed. For example, a project looking to boost their commits can write sloppy code, committing each line separately rather than writing meaningful chunks of code.
Click here to access all the data behind this insight and start your free trial of Messari Pro.
Quick Bits (Don't read that, I read it for you)
Choke Points (Exchange News)
♊️ Gemini continues to ramp up its institutional product offerings with off-chain and OTC trade negotiations on its platform. The features are part of Gemini Clearing, an electronic settlement system that allows Gemini account holders to negotiate trades that are cleared and settled by the exchange. (share or read more)
💵 Binance is launching a dollar-backed stablecoin, Binance USD (BUSD), in the U.S., and it's doing so with the blessing of the New York Department of Financial Services (NYDFS), CoinDesk reports. The exchange announced Thursday that NYDFS had approved the new offering, which Binance is launching in partnership with the Paxos Trust Company. (share or read more)
Startup Signals (ICOs, Cryptos, and Startups)
🏅Paxos, a New York based stablecoin issuer, has launched a gold-backed token trading as PAX Gold ($PAXG). Each ERC-20 token represents ownership of one fine troy ounce of a 400 oz London Good Delivery gold bar stored in Brink's vault. PAX Gold has been approved by the New York Department of Financial Services (NYDFS) which recently approved a USD stablecoin issued through a partnership between Binance and Paxos. (share or read more)
🇨🇳 Mu Changchun, deputy director of the People’s Bank of China’s payments department, gave new details on China's central bank digital currency during a lecture this week. According to Mu, the token will be available on platforms like WeChat and Alipay, similar to Facebook's plan to offer its own Libra token on its messaging platforms. Unlike Libra, China's digital currency will be controlled by the state allowing the central bank to "protect our monetary sovereignty and legal currency status," according to Mu. (share or read more)
Did I miss something?
Send me the link, your twitter handle and your best imitation compression algorithm write up. If I like it, I’ll include your bit next issue (with attribution).
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