Landlocked between six different neighbors in the Horn of Africa, Ethiopia has approximately 120 million inhabitants, making it the second most populous nation on the continent, and a GDP of $163 billion, which puts it in the same economic league as Ukraine, Morocco, Slovakia or Kuwait. However, the country has also suffered from a bloody … Read more
Having travelled extensively through many emerging markets, Nick van Eck, the CEO and co-founder of stablecoin issuer Agora, is keenly aware of the problems that currency debasement and a lack of sound financial systems can create for citizens of these countries. With AUSD, Agora’s flagship stablecoin product, van Eck is focused on solving the unique … Read more
Arbitrum, the largest layer-2 network on top of Ethereum, has awarded its biggest-ever developer grant to Lotte Group, the multibillion-dollar South Korean conglomerate known for its vast portfolio of shopping malls, media companies and entertainment properties. According to Offchain Labs, the developer behind Arbitrum, the grant cements Arbitrum as the main blockchain infrastructure provider for … Read more
After rallying over 50% since early November, bitcoin (BTC), the leading cryptocurrency by market value, looks to be carving out a pattern. If completed, this could see prices revisit the mid-$70Ks. BTC’s price action since late November has evolved into what technical analysts call a “head and shoulders” (H&S) pattern, which foreshadows a bullish-to-bearish trend … Read more
Artificial intelligence (AI) crypto tokens are failing to live up to their lofty 2024 goals despite Nvidia’s (NVDA) recent conference sparking bullish sentiment among AI stocks in the traditional markets. Last March, the NEAR token doubled in the lead-up to Nividia’s annual conference, gains that were mirrored across the wider crypto AI market. Fetch.AI (FET), … Read more
With a formal departure announcement from U.S. Commodity Futures Trading Commission Chairman Rostin Behnam, January 20 is now the official last day of both heads of the U.S. markets regulators. Behnam joins Securities and Exchange Commission Chair Gary Gensler on choosing the very last day of the administration of President Joe Biden as their final … Read more
Since the November 5 election of Donald Trump to the U.S. presidency, bitcoin (BTC) is up around 47%, sharply outperforming the S&P 500’s 4% advance. The incoming president, of course, has made clear his friendliness towards bitcoin and crypto. Also worth consideration is the Republican sweep of the Senate and House of Representatives, where laws … Read more
Crypto markets stumbled with bitcoin (BTC) losing the $100,000 level on Tuesday U.S. morning as two stronger-than-expected U.S. economic data prints threw cold water on digital assets’ bright early-year momentum. The Bureau of Labor Statistics’ JOLTS job openings for November unexpectedly rose to 8.1 million from 7.8 million the previous month, easily topping analyst estimates … Read more
Ether spent most of 2024 trailing behind its cryptocurrency peers but has now firmly joined the rally sparked by bitcoin’s record-breaking climb, crossing the $4,000 mark in December but well below its all time high of $4,900. In 2024, ether gained around 53% compared to bitcoin’s 113% surge; however, ether’s recent performance shows promise. Since … Read more
CoinDesk Indices presents its daily market update, highlighting the performance of leaders and laggards in the CoinDesk 20 Index. The CoinDesk 20 is currently trading at 3701.1, down 1.1% (-39.29) since 4 p.m. ET on Monday. Four of 20 assets are trading higher. Leaders: APT (+4.6%) and ADA (+2.2%). Laggards: POL (-3.1%) and LINK (-3.1%). … Read more