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Macroeconomic headwinds continue to pressure the crypto market, but bulls appear steadfast on holding $28,000 for support and this could provide tailwinds for altcoins. Go to Source Powered by WPeMatico
China has been advancing its goal of positioning the yuan as an alternative to the U.S. dollar for settling international payments. The Chinese government recently struck a bilateral deal with Brazil to settle trades using their national currencies and completed a purchase of Liquefied Natural Gas (LNG) with a French company using yuan as payment. … Read more
Former Assistant Secretary for Public Affairs for the U.S. Department of the Treasury Monica Crowley has warned of “catastrophic” consequences if the U.S. dollar loses its status as the world’s reserve currency. “That would mean the end of the U.S. dollar,” she said, predicting that “there would be a complete implosion of the global economic … Read more
The crypto market corrected on news of the CFTC suing Binance and its CEO Changpeng Zhao, but technical charts reveal a silver lining. Go to Source Powered by WPeMatico
Bitcoin continues to trade near $28,000, signaling a strong demand from investors even as the legacy banking system struggles with unprecedented volatility. Go to Source Powered by WPeMatico
At around 7:30 a.m. ET, the price of bitcoin skyrocketed past the $27,000 range to a high of $27,025 per unit. Precious metals, or PMs, like gold and silver, also rose between 1.98% and 2.12% against the U.S. dollar over the past day. While many market observers are wondering why specific assets like PMs and … Read more
Circle Financial, the issuer of the stablecoin USDC, is partnering with Cross River Bank after its former settlement partner, Signature Bank, was closed by New York regulators, according to a statement from CEO Jeremy Allaire. “The 1:1 redeemability of all USDC in circulation is of paramount importance to Circle,” Allaire emphasized. Crypto Firms Scramble for … Read more
On Monday, the crypto economy experienced significant market activity with $183.85 billion in global trade volume over 24 hours, with a large portion of those trades involving stablecoins. USDC traded near parity with the U.S. dollar, and several stablecoins, including tether and BUSD, sold at premiums. Tether reached a high of $1.04 per unit and … Read more
The banking crisis in the U.S. has led to aggressive buying in Bitcoin and select altcoins, which are nearing stiff overhead resistance levels. Go to Source Powered by WPeMatico
On Saturday, several centralized crypto trading platforms and payment processors stopped USDC auto conversions. However, USDC experienced a significant trading volume on decentralized exchange (dex) platforms such as Uniswap, Curve, and Pancakeswap. Uniswap alone recorded $10.13 billion in trades over the past day, with more than 55% of those swaps involving USDC against wrapped ether, … Read more