Japan’s GMO an internet group plans to launch a yen-pegged stablecoin known as GMO Japanese Yen. GMO is already within the crypto exchange and mining business, now the corporate plans to release its 3rd crypto undertaking with this stablecoin. It will be solution to the problem of hyperinflation in most of the developing countries.
Founder of the financial advisory organization has suggested that the currently stagnant condition of crypto markets could be the signal that the cryptocurrency market is maturing. A recent study showed that crypto markets are on the verge of implosion while transaction volumes are dropping.
Roubini may feel that the bitcoin and the cryptocurrency is complete nonsense and may not lead to anything other than the loss to all the investors. He feels that the market is in much more chaos and confusion because of this cryptocurrency. Later this week Dr. Doom to testify at Senate Blockchain Hearing.
From the longer-term perspective, Bitcoin ‘s recovery impetus has faded away. On the downside, $6,000 is the key support. Seeing the major changes in many decisions, the crypto market as not been affected to that extent where it leads to people to stop investing. Let us see what the future holds.
Mahone a wallpaper and home decor shop in Lynchburg has partnered with E-commerce solution Shopping Cart Elite to spread his business worldwide and to accept the payment in terms of Cryptocurrency. It eliminated the transaction fees and also helps in the faster transaction. People all over the world can buy the products.
So, the digital market is the way in which the entrepreneurs can grow faster, more efficiently and thus this market is promoting all the start-ups to go into the cryptocurrency world. It shows a viable way for the entrepreneurs to create value in this world.
Abra, the first and only all-in-one global app offering a true crypto exchange and digital wallet announced the launch of Bitwise 10 Crypto Index Token (BIT10), a new token which will give every day investors’ access to 10 Cryptocurrencies with one simple investment, rebalanced monthly with a low $5 minimum and no fees. Anyone around the world can invest in the new BIT10 token through the Abra app.
BTC has started this month by staying above the 21 Month EMA. This long-term is not easy to manipulate. For BTC to close to a monthly candle below 21 Month EMA, a major sentiment shift has to occur. As long as this stays above this level the odds are not against BTC. The digital asset although has performed poorly this year compared to 2017.
Xsolla announced the launch of two new gaming Cryptocurrencies MobileGO (MGO) and GameCredits (GAME). These will provide a unique ecosystem for developers to manage financial transactions at a faster speed. Now developers will be able to receive royalty payments for their games in MGO currency. The payouts will be made on a sliding scale percentage that developers choose. GAME will work as Bitcoin of the gaming industry to become the most trusted Cryptocurrency of this sector.
In terms of crypto regulation, the Spanish Congress has indicated the unanimous support for a draft regulatory framework to regulate blockchain technology and cryptocurrencies. The draft initiative suggests that the state cooperates with CNMV and bank of Spain to coordinate a common regulatory stance on crypto in the broader European context.