🍄 Stablecoins are shooting up like mushrooms!5 September, 2020 | by
BTCBitcoin $ 10 411.70 -0.16% $ -16.24
ETHEthereum $ 379.85 -3.72% $ -14.68
XRPXRP $ 0.2523 -0.26% $ -0.00066
Market Cap1.30% $ 345 246 788 368
B Dominance55.70% $ 192 146 064 447
- Moni Vibe
Hey, #Moni Maker 😎
Today, 54 years ago, we’ve witnessed the largest fall in the New York Stock Exchange after the "big crash" of 1929. The collapse of the 46th was not comparable to that of the 29th, and we still have not seen such strong collapses. Many economists predicted a major collapse this year, but so far the fire seems to have been put out. However, given the number of measures taken by central banks, the world economy leaves much to be desired. With the development of cryptocurrencies and their innovative approach, we now have a Plan B.
But, given that these technologies are incredibly young, it is important to keep a close eye on developments, so let's get to the news!
Capitalization of stablecoins is growing!
According to the analytical resource Coinmetrics, the DeFi boom had an affect on stablecoins as well. Their capitalization is growing by roughly $100 million per day.
"Everyone got so excited about DeFi, no one pointed out that stablecoins have been adding $100M/day since mid July", - co-founder of Coinmetrics Nick Carter tweeted.
Well, stablecoins are also a breakthrough project, because they have solved the problem of bitcoin’s massive volatility. Also, stablecoins bring mass adoption closer, because a stable picture is vital for human consciousness.
DeFi pushed stablecoins. Ok! Let's launch a couple more projects, which will push the whole crypto-economics forward so we can finally pay with USDT for the bus tickets.
According to CryptoRank, the total daily volume on all Ethereum futures markets has exceeded $15 billion and now stands at $15.39 billion.
Ethereum is classic! By the way, DeFi did everything to make it happen.
In any case, the futures’ growth is a great proof of the market's progression. We are quite ordinary, so if there is a good piece of news regarding any cryptocurrency project, it makes us happy.
25 new coins? Where?
Bitstamp announced in its blog that it is exploring the possibility of listing 25 digital assets "to provide customers with a wider range of trading opportunities and to reflect the continued growth of the crypto industry. Most of these assets are DeFi projects.
After this post, no single token has responded to to the announcement. The tryout of becoming “the next Coinbase” failed.
Nevermind! A lot of projects want to become Coinbase, also maybe their CEOs’ are bald, but it doesn't work this way…
But never give up! If you own an exchange and read our digests with your morning coffee, keep your coins up! Coinbase wasn’t built in a day.
Pay taxes in BTC and ETH!
Switzerland’s canton of Zug, home to hedge funds, crypto firms and commodity traders, will start allowing citizens to pay taxes with Bitcoin and Ether as the acceptance of digital currencies continues to rise.
Zug, which is known for its low corporate taxes, has been accepting Bitcoin payments for certain government services since 2016 and inspired the ski resort of Zermatt to do the same.
Switzerland has always been famous for its progressiveness, wealth and high standard of living. Other countries will follow, we are certain!
But as for many third world countries this question is really difficult. In such countries many people are used to getting paid under the table and never pay taxes.
When mass adoption comes, these countries’ governments will have to solve this problem. Because figting the progess is a suicide, everyone gets it now.