Services that aggregate data from the cryptocurrency markets are some of the most demanded tools for day-to-day analytics among investors. Such services provide information about the state of the market, prices and market capitalization of assets, exchange trading volumes, listed coins, and trading pairs.
News and Analysis
The Bank of France announced a CBDC experiment and is open to applications. The test is a part of the larger move towards introducing central bank digital money in the EU and is aimed to explore solutions for interbank settlement.
The growth of decentralized finance may be choking other types of transactions in the Ethereum network. As the DeFi sector is highly reliant on Ethereum, this means a lot for both the blockchain network and the very near future of decentralized finance.
While our society is being taught a hard lesson about the benefits of digitization, governments and businesses scramble to put together all sorts of online solutions. Although, China may have had a head start in going digital with a national blockchain infrastructure expected to go live next month.
The market crash of March 12th presented the DeFi sector with a real trial. Even the DeFi flagship MakerDAO couldn’t withstand the crisis losing $8 million to unscrupulous network participants during what is now known as Black Thursday. Yet, it’s not the only recent problem of the DeFi sector.
The market crash of the 12th–13th of March, was an unexpected and tough trial even for seasoned investors. The actual reasons behind the crash are still up for debate.
The Bank of England (BoE) has published a discussion paper, exploring the pros and cons of a potential issuance of CBDC pegged to the British pound. In the paper, BoE offers more pros than cons and pledges to hear out thoughts on the matter from the general public.
The recent market crash caused a lot of trouble for MakerDAO, the platform behind the Dai stablecoin and the largest DeFi project by value locked. Being largely collateralized by Ether, the stablecoin was impacted heavily by the decline in ETH price and the resulting gap in collateralization.
The last few weeks have been hard for the world economy and logistics. Logistics and supply chains are disrupted, some states close their borders and restrict public events. This doesn’t make investors happy, lowering business activity and total demand.
On Friday (UTC time zone), March 13, Bitcoin’s price at some point fell to $3,800, having lost more than 50% of its value overnight. Ethereum’s price dropped below $100 for the first time since December 2018.
On March 4th, the Supreme Court of India ruled against the Reserve Bank of India’s decision to ban the country’s banks from dealing with digital currencies. The next day, on March 5th, the South Korean authorities have effectively legalized cryptocurrencies.
Today, on March 12, the price of Bitcoin dropped below $6,000, at some point reaching $5,900 on the Bitstamp exchange.