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Wednesday, 12 August 12:33 (GMT -05:00)



Foreign exchange market

China Will Test Digital Yuan On Food Delivery Platform


The People's Bank of China is planning to test the digital yuan by putting it to good use with the help of Meituan Dianping, a Beijing-based food delivery platform. It should be noted that this is a rather popular platform with 435 million active users, processing billions of dollars in transactions on a daily basis. Apparently, this opens big opportunities for mass introduction of the digital yuan, which is also known as the Digital Currency Electronic Payment (DCEP).
 
According to Bloomberg, they interviewed the Institute for Digital Currency Research, a department of the People's Bank of China, on the cases of CBDC application in China.
 
Supposedly, on top of Meituan Dianping, another Tencent company named Bilibili took part in the talks with the central bank. Bilibili is a very popular streaming service in China. Another participant is DiDi, a Chinese alternative to Uber.
 
At this point, it's hard to say when exactly the Chinese CBDC is going to be introduced as the official payment means in China. However, one thing is sure - China has been moving really fast towards achieving this ambitious goal. Apparently, if the tests are successful, the digital yuan may be introduced in the near future.
 
In April, there were rumors that the central bank launched an e-wallet for beta testing. It's interesting to note that the pandemic only sped up the testing process. In June 2020, the PBoC announced that they had finished working on the CBDC architecture. Also, a couple of months earlier the financial authorities started working on the legislative base for introducing the CBDC.

 

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Bitcoin Reaches $9500. Will It Drive Crypto Market Rally?

The BTC exchange rate has finally broken free from from the narrowing price range and rallied above $9500 per coin. What's coming next? Will the coin test $10000? If so, will this test be successful?

Publication date: 26 July 10:59 AM

Ethereum and Bitcoin Are Close To 5-Month and 1-Month Highs Respectively

After going out of the triangle in the first half of the trading week, Bitcoin started growing faster on Tuesday and Wednesday, thus gaining over 4% in 2 days and testing 9573 dollars per coin, the highest level in 4 weeks. Still, Thursday's session brought a modest correction down and a move back to 9500 dollars per coin and below. In the broad market of cryptocurrencies, Ethereum is the best performer. It has already gained over 7% over the last 24 hours and is currently testing 270 dollars per coin.
Publication date: 26 July 10:08 AM

Japan Will Include CBDC In Its Official Economic Plan

The Japanese government is planning to include the CBDC (Central Bank Digital Currency) in their official economic development plan. The information appeared 10 days after the Bank of Japan announced their plans to experiment with the digital yen in order to figure out what it is capable of in practice.

Publication date: 20 July 02:53 AM

World's Biggest Crypto Scams

In his article on the website called Cointelegraph, Nick Bell described the most famous cryptocurrency scams known. In each fo them, investors collectively lost billions of dollars. The sad thing is, many of those scammers remain unpunished by the law.
Publication date: 17 July 09:14 AM

Digital Yuan Threatens Dollar, Matthew Graham

Matthew Graham, a China banking investment veteran and CEO of Sino Global Capital headquartered in China, has analyzed what is so far known about the expected Chinese cryptocurrency. He thinks that the Chinese government sees the technology as something that can actually break the dollar dominance in the financial world.

Publication date: 07 July 06:34 AM

JPMorgan: Bitcoin Turned Into Asset and Survived March Crisis

JPMorgan Chase, one of the biggest banks in the United States and the entire world, analyzed the March crash of the cryptocurrency market and published a report on the results of this research. Bitcoin occupies the lion's share of the report. So, the analysts made the conclusion that the BTC market is getting mature, which is confirmed by a strong correlation with most stock markets.

Publication date: 25 June 11:54 AM

Investment Interest In Bitcoin Drops After Halving

Publication date: 21 June 11:33 AM

Ethereum Is Less Private Than Bitcoin

According to a group of Hungarian experts who decided to examine the Ethereum network, ETH transactions turn out to be less private than BTC transactions. The experts published the results of their research after studying a bunch of several, pretty specific functions of Ethereum. Those functions usually make it possible to track the financial flows in the network.

Publication date: 15 June 02:28 AM

COVID-19 Keeps Affecting Dollar

Right before the start of another trading week of June 2020, NordFX experts came up with another set of market predictions for the forex and cryptocurrency markets. Their predictions are based on the consensus forecast compiled from various market forecasts made by various market experts as well as the result of technical analysis. The period is June 15th - 20th. So, this is what those predictions look like:

Publication date: 14 June 10:55 AM

Goldman Sachs Discussed Cryptocurrencies

Publication date: 07 June 03:57 AM