Search
Stablecoin Market in Flux: More Than $2 Billion in USDC Redemptions in 30 Days
10.2.2023
It appears that the circulation of the stablecoin usd coin has decreased while tether’s has grown, as the latest statistics paint a contrasting picture. Tether saw a 3% increase in coins in circulation over the last month, while the U.S. dollar-pegged crypto asset usd coin recorded a decrease...
Analyst Warns of Banks’ Authority to Confiscate Funds, Decline of US Dollar Purchasing Power
9.2.2023
According to Lynette Zang, chief market analyst at ITM Trading, U.S. banks have the legal authority to confiscate people’s funds due to legislation passed by Congress. In a recent interview, Zang discussed how the purchasing power of the U.S. dollar has dwindled to “roughly three...
Nouriel ‘Dr. Doom’ Roubini Warns About Demise of US Dollar
8.2.2023
Nouriel Roubini, an economist known as “Dr. Doom,” has warned about the demise of the U.S. dollar and the rise of a “bipolar” world. Roubini believes that the Chinese renminbi might be a substitute for the dollar, as new technologies like central bank digital currencies...
US Dollar to Keep Losing Its Appeal as Safe-Haven Currency of Last Resort, Says Strategist
8.2.2023
Pacific Investment Management Company (PIMCO) expects the U.S. dollar to “continue to lose its appeal as the safe-haven currency of last resort.” The $1.74 trillion asset management firm added that the USD “is likely to fall further in 2023 as inflation falls, recession risks...
Binance Halting US Dollar Deposits and Withdrawals via Bank Accounts
7.2.2023
Global crypto exchange Binance is suspending deposits and withdrawals in U.S. dollars via bank accounts starting Wednesday as more and more banking institutions try to reduce their exposure to the crypto market. “We are working hard to restart service as soon as possible,” Binance said....
Meme Coin Economy Swells by $5.8 Billion in Less Than a Month, Suggesting Demand for Meme Tokens Still High
5.2.2023
The meme coin economy has grown significantly over the past 27 days, increasing 34.52% against the U.S. dollar. The largest meme coin by market capitalization, dogecoin, has risen 29.5% in the past month, while the second-largest meme coin, shiba inu, has jumped 71.9% in 30 days. Since Jan....
Fiat is in 'jeopardy' but Bitcoin, stablecoins aren't the answer either: Ray Dalio
3.2.2023
The hedge fund manager instead wants to see an “inflation-linked coin” be brought to the masses which would serve to ensure consumers secure their buying power
Smart Contract Token Market Soars to $332 Billion; Defi Value Reaches High Not Seen Since FTX Collapse
2.2.2023
The smart contract token economy rose 5.6% against the U.S. dollar on Thursday, reaching $332 billion. Additionally, the value locked in decentralized finance (defi) increased to nearly $50 billion, a record high not seen since the collapse of FTX. Smart Contract Economy and Defi TVL Bounces Back...
Following APT’s 400% Rise Since Late December, Aptos Drops 20% From All-Time High
1.2.2023
On Jan. 26, 2023, the cryptocurrency asset aptos (APT) reached an all-time high and then lost 20% of its value over the next five days. In the past 24 hours, it also shed 8.3% against the U.S. dollar. Despite the decline from its all-time high, APT is still up 349% compared to last month’s...
Metaverse Tokens Outperform Top Crypto Assets in 2023 With Decentraland’s MANA Leading the Pack
1.2.2023
During the first month of 2023, the top two leading cryptocurrencies, bitcoin and ethereum, experienced double-digit gains against the U.S. dollar. Meanwhile, several alternative cryptocurrencies saw even greater increases in value, with metaverse tokens like Decentraland’s MANA and...
Bitcoin Rise in First Month of 2023 Moves Crypto Fear Index From ‘Extreme Fear’ to ‘Greed’
30.1.2023
Last month, statistics showed that the Crypto Fear and Greed Index (CFGI) had a score of 25, indicating “extreme fear.” Thirty days later, with a 39% increase in bitcoin prices against the U.S. dollar, the current CFGI score on Jan. 30, 2023, is 61, reflecting “greed.”...
Argentine Peso Loses Almost 12% Against the Greenback During January; Inflation Projected to Rise Sharply
30.1.2023
The Argentine peso has fallen consistently against the U.S. dollar this month, losing almost 12% since Jan. 1. The behavior of the exchange rate for the informal “blue” dollar keeps bringing concerns about a possible escalade in inflation rates, that are predicted to reach almost 100%...
Crypto Asset Aptos Soars to All-Time High, Increasing 391% in 30 Days
27.1.2023
During the past 30 days, the layer one blockchain asset aptos (APT) has risen 391.8% against the U.S. dollar. In the past seven days, Aptos has increased 123.7% after reaching an all-time high of $19.92 per unit on Jan. 26, 2023. The Role of Decentralized Finance, Infrastructure Support, and NFTs...
Latam Common Currency to Focus on Settlements Among Mercosur and BRICS Countries
25.1.2023
President of Brazil Luis Inacio Lula Da Silva clarified the scope and reach of the common currency that Brazil and Argentina are studying to issue in Latam. Lula Da Silva clarified that he believed this currency would be used to settle cross-border payments between the two countries and also...
Elon Musk Praises Reports on Latam Common Digital Currency: ‘Probably a Good Idea’
25.1.2023
Elon Musk, CEO of Twitter, SpaceX, and Tesla, has given his opinion about the latest reports on the creation of a common currency in Latam, to be initially worked on by Argentina and Brazil. Musk stated that this move would be “probably a good idea,” commenting on the topic on social...
Ghanaian Cedi Second Worst-Performing Asset Among Sub-Saharan Africa’s Top 15 Currencies
24.1.2023
In just the first 17 days of the new year, the Ghanaian currency reportedly depreciated by 12.7%, making it the second worst-performing among Sub-Saharan Africa’s top 15 currencies. While one U.S. dollar bought 13.10 units of the cedi on the parallel market, according to the latest Bank...
Brazil and Argentina to Start Working on Creation of Latam Common Currency
24.1.2023
Brazil and Argentina are looking to begin work on the issuance of a common currency. Sergio Massa, minister of the economy of Argentina, also stated that the two countries will be inviting other nations in the area to join this economic integration project in the future. Brazil and Argentina...
Axie Infinity’s Monthly Player Count Drops to Low Not Seen Since November 2020
23.1.2023
After recording $4.26 billion in total non-fungible token (NFT) sales, the play-to-earn game Axie Infinity’s monthly player count has dropped to levels not seen since November 2020, a period of 26 months. Despite the low player count, the project’s native token, AXS, has climbed...
Bitcoin’s Crypto Market Action Holds the Upper Hand as Dominance Level Surpasses 40%
21.1.2023
On Jan. 21, 2023, the price of bitcoin reached a 24-hour high of $23,333 per unit at 5 a.m. Eastern Time on Saturday. The entire crypto-economy is now valued at $1.05 trillion after rising 7.2% against the U.S. dollar. Bitcoin’s price rise has led to the crypto asset’s dominance level...
Saudi Arabia Open to Trading in Currencies Other Than US Dollar, Signaling a Shift Toward De-Dollarization
19.1.2023
After a 48-year relationship solely with the U.S. dollar, Saudi Arabia’s Finance Minister, Mohammed Al-Jadaan, said the kingdom is open to trading in currencies other than the U.S. dollar. The statements follow China’s president, Xi Jinping, urging the Gulf monarchs to accept yuan...