Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The crypto market ends the week at a total market capitalization of $2,17 trillion. Bitcoin continues to trade at around $62,300. Ethereum experiences no changes and stagnates at around $2,400. XRP is down by 2%, Solana by 1%, and Dogecoin by 3%. Almost all altcoins are trading in the red, with very few exceptions. The DeFi sector decreased the total value of protocols (TVL) to around…
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Ex-PBOC Official: China’s Digital Yuan’s Establishment Isn’t for Spying
A former central bank official stated on Sunday that tracking the payments of citizens was never China's motivation for developing a sovereign digital currency. China is dominating the world in developing a national digital currency, a project it has been working on since 2014. The People's Bank of China (PBOC) has been cutting edge on the digital yuan, a so-called central bank digital currency (CBDC) that targets to replace some cash in circulation. According to data from Singapore bank DBS,…
4 years ago