BTC, the most known cryptocurrency, is currently trading at $10,468, down -4.51% on yesterday at the time of writing. Most of the market is in RED, except few crypto, surprisingly increasing, such as Digibyte, Tron and Storj (all in single digits). The main cause is the failure to test $12.000 and stay above this psychological level. Coincidence or not, the stock market also dropped significantly.
Bank of England Governor Andrew Bailey has said crypto assets are "unsuited to the world of payments", and the banks are the ones you need to trust. Excuse me if i somehow doubt your good intentions. The time has come, and their attempts to shame crypto make me only laugh (in front of danger).
China is decreasing their reserves of dollars, with more than 200 billions in Treasury bonds. They are also trying to improve and to practically use the digital yuan. Their reasons are the record amounts of US dollars being printed by the country’s Federal Reserve (brrrrr!) , leading to fears of imminent dollar inflation and the lovely US President Donald Trump’s repeated attacks on the Chinese administration. Not only China, but other countries too actively try to decrease the reliance on US-dollar assets. Maybe they will look towards crypto?
The Swiss canton of Zug will begin accepting taxes in bitcoin (BTC) and ether (ETH) from February next year, up to 110.000 USD.
Binance made a move to compete with the likes of Uniswap and Mooniswap, launching the Binanceswap. In its initial state, the liquidity can be provided only in 3 choices: BUSD/USDT, BUSD/DAI and USDT/DAI.
I cannot notice that most of the high double digits loss are experimented by DEFI-related crypto. Check this lovely gainers and the major losers bellow:
I stop here, need to go to sleep and I will see you tomorrow!
G.
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Disclaimer: This text also can be re-published on my personal blogs, such as this one.