Dubai: Crypto & Coffee at 8: 27th June 2022! 🔴Stable coins account for 87.20% of the total crypto market’s volume 🔴
Blockchain DXB
Shownotes Transcript
27th June 🔴Stable coins account for 87.20% of the total crypto market’s 24-hour volume. ⛔The 24-hour volume is down to $43.53 via CoinMarketCap 🤔The circulating supply of USDC is at $55.8B almost double since last year. 24 Trading volume is only at $3B 😱The Fear & Greed Index is still Extreme Fear at 14.
👀How does the 2nd half of the year perform? Changpeng Zhao, CEO of Binance is quite content with the current price of Bitcoin. In an interview with The Guardian, he said it may take a few months or a couple of years for #BTC to reach a new ATH While Bitcoin price predictions are 100% right 50% of the time, we strongly feel 1st quarter of 2025 ie six to eight months after the next halving of Bitcoin ie around May 2024 is when we may most likely see #Bitcoin reaching a new ATH. Hopefully, by then Geopolitical situation also changes & USA has the possibility of #Trump2024?
💥Lebanon Inflation 211% — Could Bitcoin be a better solution?
Inflation numbers are extremely daunting & will continue till 2023? The National News article last week said Lebanon’s runaway inflation reaches 211% in May. Article here https://bit.ly/3u4kPz3 Lack of political stability is unable to provide loan of $3 billion from the International Monetary Fund to resuscitate its economy.
Mashable has reported that El Salvador has lost half its investment in Bitcoin. Article here https://bit.ly/39Uu1zj The price per #BTC is down to less than 1/3rd of its all-time high. Maybe over the long term, El Salvador adopting Bitcoin as legal tender could prove to be beneficial to the country and to its citizens?
📛BlockFi mentioned via Twitter they are increasing rates for BTC, ETH, USDC, GUSD, PAX, BUSD, and USDT in the BlockFi Interest Account (BIA) Tweet here https://bit.ly/3QLNaEa Reasons for the increase are
- Effective risk management
- Decreasing market competition
- Changing macro yield environment
⚡🎓Word of caution & reminder the very second line of the Bitcoin white paper reads…… the main benefits are lost if a trusted third party is still required to prevent double-spending. Depositing #BTC to earn interest may seem attractive but could be extremely risky!
Yesterday CoinDesk published an article that claims Morgan Creek Capital Management, LLC is trying to counter FTX’s BlockFi bailout, of a $250 credit facility offered. Article here https://bit.ly/3bujYRM
Worrisome for Morgan Creek, because FTX has the option to buy BlockFi “at essentially zero price that includes Morgan Creek Digital’s stake in BlockFi
UAE news: (Check slides for more info)
- Bitcoin Beginners Guide Session by Blockchain DXB 3-part series starting from 7th July till the 21st of July
- Ethereum Beginners Guide Blockchain DXB on the 7th of July
For slides click here: https://bit.ly/3QU95ca
Bitcoin address: 02ddf96964b352b75dd660a56a5162bf9e76e549e31263b88ed93015e635771795
Cardano address:addr1qxwu4h9uw4ptc6jp4zzhvckcjua7nda9u5fkvmdfrge00n3dpznq9000nxdcvklpdtw320zku7eeju483l2pg6gtw3eqp8e4q6
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