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…
US Federal Reserve
Bitcoin increases by 10% and markets slightly recover
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 $173 billion. Bitcoin gains 10% in dollar value and trades safely above the $6,500 mark. Ethereum traded steadily between $135 and $140 XRP rises to $0.19 but drops by 3% on the weekend The Trump Administration announces a $2 trillion economic stimulus. The equity market also increases by 10% Covid-19 has now spread to…
5 years ago
Draft of Coronavirus Bill Suggests Issuance of the Digital Dollar in The US
As the markets continue to shift negatively, the US looks to Congress for agreement on a significant stimulus package to rescue the economy from impacts of the coronavirus pandemic. The Democrats in the US house want to create a ‘digital dollar’ and the establishment of ‘digital dollar wallets according to a proposed draft stimulus bill, which has been circulating ahead of formal publishing. The digital wallets would be maintained by the Federal Reserve Bank. The new proposals will facilitate payments…
5 years ago
Ripple CEO Ascertains XRP’s Place on the Table Amidst USD-backed CBDC Launch.
The race to launch a CBDC among central banks worldwide is perpetually picking up as its development is ongoing in nations like Singapore, while China buckles up for its launch within 202o. However, people's focus is set on the US Federal reserve's potential to release a CBDC backed by the favored currency, USD. In recent times, reports have it that the Head of Blockchain technology said that the company would not release its JPM Coin if the Federal Reserve released…
5 years ago
U.S. Federal Reserve Official Says Various Cryptos are Like ‘Burning Garbage’
This year has brought tremendous gains in the crypto market. Several leading cryptocurrencies are performing exceptionally well. Numerous questions still need answers regarding the use, potential, and adverse effects of cryptos. Comments on crypto demerits arose, including Minneapolis Federal Reserve president, Neel Kashkari, commenting on the same. He spoke recently at an event, stating that cryptos are "like a giant garbage dumpster," and they do not have the fundamental features of any stable currency. He added that USD is valuable…
5 years ago