Opinion

We are ready to work on the establishment of a European central bank digital currency, says the Italian Banking Association (ABI). The ABI announced its willingness to support the implementation of a digital currency from the European Central Bank. The association’s website noted the approval of guidelines governing its position on digital currency and central bank digital currencies (CBDCs) on June 18. The ABI, which represents a group of banks in Italy, said it was ready to take part in projects and…

The intense increase in the popularity of DeFi created a notable buzz for Ethereum in the cryptocurrency space within the previous few days. The popularity of DeFi in recent times is majorly influenced by an emerging trend known as ‘yield farming.’ Yield farming allows the leveraging of different protocols to receive huge payouts (up to 200 percent APR). Due to this trend, several tokens related to DeFi have seen huge uptrends, even as COMP rallied by over 100% percent and…

Despite their growing popularity, Bitcoin and other virtual currencies are still not accepted in many states and nations. There are varying levels of ‘crypto-friendliness’ in different countries, which refers to each government’s policy regulations to support (or against) cryptocurrencies. Some, like Ecuador and Bolivia, have banned the use of decentralized currencies altogether. However, others have a more accepting or positive stance towards crypto. These five are some of those countries that are generally crypto-friendly: Malta The small nation of Malta,…

MarkerDAO has been the dominant platform in DeFi. However, recent data suggest that Compound has surpassed MarkerDAO in terms of DeFi dominance. Before the COMP distribution began last week, there was $97.7 million on Compound as against $480.5 million on MarkerDAO. However, as of June 21, Compound had $595.4 million worth of COMP tokens locked in DeFi, as against $442.8 million for MarkerDAO, according to DeFi Pulse. Last week, Compound users began earning the platform’s new governance tokens, COMP for…

Get the weekly summary of cryptocurrency market trends, news, and forecasts! This Week’s Summary ● The Crypto Market ends the week at a total market capitalization of $266 billion. ● Bitcoin keeps trading above $9,000, with very few fluctuations. ● Ethereum decreased by 2.3% as it hovers above the $230 mark. ● XRP continues its downtrend as it drops below $0.19 ● The NASDAQ Composite index continues to trade around the all-time high that it hit on June 10th Crypto…

Cryptocurrency exchanges are intermediaries that stimulate the buying and selling of cryptocurrencies, usually in exchange for a fee. Exchanges function to trade, speculate or convert existing value with other instruments like digital assets and ultimately fiat currency. Exchanges form a huge part of the cryptocurrency economy, as they form a key component in the sector's growth. Several exchanges have popped up since the advent of Bitcoin. One of the first was Mt. Gox, initially formed as a trading card exchange…

The use of Ethereum has risen explosively within the previous couple of years. The ICO bubble at the end of 2017 and most of 2018 was the major root of the blockchain’s utility. This also perpetuated an unsustainable uptrend regarding the price action of Ethereum. There was a shift towards the end of 2018 as regulatory measures hit ICOs worldwide, thereby largely halting the trend. However, as decentralized finance (DeFi) which allows users to offer and receive peer-to-peer loans using their…

The renowned cryptocurrency exchange Binance is now supporting Great Britain Pounds (GBP) trading pairs on its main exchange, just two days after announcing a UK-based trading platform. On June 19, Binance announced the availability of 5 new trading pairs. The pairs to go live at 10:00 am (UTC) on June 19 include BTC/GBP, ETH/GBP, XRP/GBP, BNB/GBP and GBP/BUSD. “Binance will open trading for BTC/GBP, ETH/GBP, XRP/GBP, BNB/GBP and GBP/BUSD trading pairs at 2020/06/19 10:00 AM (UTC). Please note: The GBP is a national currency and does…

The advancement in technology has improved transparency and accountability in many sectors to reduce cases of corruption.  These days, the money funded to steer development projects can be tracked up to the last coin, but has it been able to curb corruption? Criminals still find their way to carry out their illegal dealings. Blockchain technology provides an efficient way of curbing corruption in government institutions as well as private institutions alike.  This article focuses on how blockchain technology can help…