Ethereum’s 40-month slump vs. Bitcoin won’t end in a dollar ‘freefall’ scenario
The positive correlation between the ETH/BTC pair and the US Dollar Index has strengthened ahead of the Federal Reserve’s September rate decision. Go to Source
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Nigerian Firms Forecast Further Naira Depreciation
A recent Central Bank of Nigeria survey reveals that Nigerian businesses expect the naira to weaken further before strengthening in late 2024 or early 2025. This pessimism comes despite the CBN injecting millions into the forex market. The naira’s depreciation has fueled inflation, sparking protests. While most businesses are pessimistic about the naira’s immediate future, … Read more
Mercado Libre, Latam’s Largest Company, Launches Own Dollar Stablecoin
Mercado Libre, the largest public company in Latam by market capitalization, has announced the release of its own dollar-pegged stablecoin, the meli dolar, for the Brazilian market. The development was completed in partnership with Ripio, an Argentine cryptocurrency exchange, and is issued by Meli Uruguay S.R.L., a part of the Mercado Libre group. Mercado Libre … Read more
Good news means bad news? Bitcoin shrugs off weakest US dollar of 2024
Bitcoin price action seems uninterested in rapidly declining US dollar strength, as a shock payroll revision adds to DXY pressures. Go to Source
Russian Finance Minister Discloses That Over 90% of Bilateral Trade With China Is Settled Outside the U.S. Dollar System
Anton Siluanov, the Russian Finance Minister, pointed out that a majority of the bilateral trade with China is being conducted outside the U.S. dollar system. He stressed that over 90% of these transactions have been completed using national currencies (rubles and yuan) due to the risks associated with executing these using “unfriendly” currencies. Russian Finance … Read more
Price analysis 8/19: SPX, DXY, BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA
The S&P 500 Index is nearing its all-time high, but Bitcoin is struggling to rise above $60,000, pointing to further underperformance in the near term. Go to Source
Zimbabwe Central Bank Denies Forced Remittance Conversion Claims
The Reserve Bank of Zimbabwe (RBZ) has denied claims that it intends to force recipients of U.S. dollar-denominated remittances to convert their funds into local currency. The central bank clarified that it has no plans to review its diaspora remittances policy. According to the RBZ, the market had misconstrued a video on social media in … Read more
Financial Analyst Peter St Onge States Saving the Dollar Is Easy: Return to the Gold Standard
Peter St Onge, an economist and financial analyst, has explained his proposal to save the U.S. dollar from crumbling under the current central banking system. St Onge proposes returning to the gold standard, backing the total dollar issuance with gold at current prices and mandating the Treasury to repurchase it when it flows out. Economist … Read more
Does Hong Kong have issues with USDT and USDC? OSL exec weighs in
As Hong Kong looks into creating HKD and USD stablecoins, a local industry executive has addressed possible implications for stablecoins like UDST and USDC. Go to Source
While Useful, Bitcoin Will Not Replace the U.S. Dollar, Russian Analyst Warns
Viktor Pershikov, a Russian expert in financial markets, has explored the opportunities that crypto and bitcoin will bring to Russia following the laws approved recently by President Putin. Pershikov stated that, while some cryptocurrencies present interesting opportunities as payment tools, ultimately, no cryptocurrency can currently substitute for the U.S. dollar. Russian Analyst States Bitcoin Won’t … Read more