According to new data, there has been an increase of 10-fold in the correlations between stock and BTC in certain regions. Before the COVID-19 lockdown in Asia, the distinction between the financial and crypto markets was clear. IMF Economists Reveals Strong Correlation Between Crypto And Equity In Asia According to the IMF (International Monetary Fund),…
Brad Sherman, a US Congress member, has also asked the SEC to prosecute exchange firms that allowed trading of XRP. According to Sherman, the regulator had gone after XRP while leaving the exchange firms. The lawmaker noted that the SEC is taking the easy way out. This is because the regulator chose to go after…
At the recent G20 gathering, Phillip Lowe, the governor of Australia’s central bank, suggested that controlled private tokens would be preferable to CBDCs. Meanwhile, the Bank for International Settlements conducted a poll recently. The result showed that 90% of central banks globally were moving toward creating a virtual currency. Some are currently doing tests. Others…
The payments platform, Circle, has published a detailed asset breakdown of the funds supporting its USD-pegged currency, the USDC. Circle’s most recent disclosure comes after the move of Paxos, another stablecoin issuer. Last week, the stablecoin issuer released a thorough analysis of all assets kept in reserve. Meanwhile, the information released by the company has…
According to reports, Tether short-sellers have increased over the past week. Also, more investors continue to dump liquidity despite Tether’s report that its reserves are backed. Furthermore, most crypto investors moved their assets to stablecoin after the fall of BTC. This was because of the stability that stablecoins offer. However, the recent de-pegging of the…
With the recent regulation in the crypto sector, several states have introduced crypto-mining fees. This is due to the high amount of power consumed by crypto miners. In the western part of the United States is Washington. Most of the state’s electricity is provided by hydroelectric power. The state has increased mining fees to reduce…
In recent news, the Reserve Bank of India (RBI) has shown massive support for CBDCs. The central bank believes that the widespread adoption of CBDCs will end the era of private cryptos. RBI Believes CBDCs Will Overshadow Crypto According to the Indian Times, the deputy governor of the RBI, Rabi Sankar does not support crypto….
It hadn’t been long since the Terra network ended up collapsing due to the problem with the algorithm behind the UST. To fix the problem, Terraform Labs announced that they will be launching a new token. The token also named ‘LUNA’ would be the alternative to the old Terra token. Is the New Token Being…
So far, two weeks have passed since the TerraUSD (UST) crash happened. Since then, the situation has been pretty dire for the entire Terra community. There is a lot of uncertainty and concerns among the Terra community due to the crash of UST. Now, they are eager for the teams behind the Terra network to…
The DeFi platform Terra saw an impressive run over the past two days, its stablecoin $UST becoming the 3rd-largest stablecoin after flipping BUSD. It also became the first stablecoin to climb to the top three. Terra attracts attention amid surged UST adoption. However, its Wormhole hype faded entirely from the 3% meager in January. For…
The latest upsurge sees Dogecoin reentering the top 10 cryptocurrency lists. While writing this article, DOGE ranks 9th, above Polkadot and Terra in the 10th and 11th positions, respectively (Coinmarketcap data). The latest upswings had Dogecoin flipping Terra and Polkadot as the meme coin reclaims its spot among the top ten digital assets by market…
Top digital coins, including Ethereum and Bitcoin, dropped their values with double-digits as concerns and profit-taking translated to an almost one billion dollar worth of liquidation among the cryptocurrency market. Time for dip-buying? The pre-Christmas crash in the crypto markets agitated investors, diminishing their risk appetite. The digital coin market is the latest to suffer…