Here’s what you need to know on Monday:
Markets:
– The main components of the Crypto board succumb to the lack of clear direction in the short term. The intraday range collapses and gives an uncommon image, with movements between crypto vs USD pairs less than 1%.
– Only Stellar Lumens and Storm valuations spare the intraday volatility drop. XLM/USDT is up 3.02% while STORM/USDT is rising 3.57%.
– Ethereum stands out with a weekly rally of over 7% against Bitcoin. The short term target price level for the ETH/BTC pair is at 0.0235.
– The founder of the CHINA BTC exchange, Bobby Lee, has predicted that in 2028 Bitcoin could take away Gold’s reserve role. Mr Lee awards Bitcoin a capitalization of $3 trillion.
Chart of the day:
ETH/BTC
Industry:
– The Central Bank of Singapore partners with J.P. Morgan to develop a prototype coin based on blockchain technology. “We hope this development will encourage other central banks to conduct similar trials.
– Tunisia is part of the technological vanguard in the Blockchain segment and moves forward quickly to present a tokenized version of its currency.
Regulation:
– Jean-Claude Trichet, former president of the European Central Bank, has made clear his total opposition to Bitcoin, denying it any characteristic of the currency itself. “I am strongly against Bitcoin, and I think we are a little complacent. […] The currency itself is not real, with the characteristics that a currency must-have.”
Quote of the day:
@Apompliano:
We are still in the phase of Bitcoin & crypto adoption where the default user experience is horrible.
This will change over time.
But even with these challenges, the financial services available in the digital currency world far outweigh the services in the legacy financial system.
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