Industry news — Page: 12

For a long time, cryptocurrencies have been out of the law, and skeptics were sure digital assets are just the next financial bubbles. 12 years later crypto assets turned the opinions upside down, proving that the new class of assets contains enough power to revolutionize the traditional economy. As such, the officials are going step-by-step to join the trend.

The financial market is under revolutionary changes. The investment financial giants had been criticizing digital assets for a long time, and now FTX, the crypto derivatives exchange founded in 2017, is thinking about the possibility of purchasing Goldman Sachs and CME Group in the future.

Professional FX traders understand the S&P 500 and Dow Jones indexes influence the EUR/USD trading pair, and the correlation is strong and dynamic. When the US equity market is on the rise, traders expect more US dollars invested in the sector. This said, such inflows increase the US dollar rates. When the market decline is observed, USD is losing momentum.

The world-known fashion brand Dolce and Gabbana joins the fast-growing trend, non-fungible tokens. The brand is going to issue an NFT collection in partnership with UNXD, a luxury marketplace.

Brazil stands to be among the most progressive Latin American countries, as the local Securities and Exchange Commission (CVM) allowed QR Asset Management to run the first Ethereum-based ETF fund in the continent.

The Ethereum network is rapidly moving towards the 2.0 version. The upgrading train has already passed by the ‘Berlin’ station with a Gas price decrease and new transaction type. The next stop is ‘London’ where the Ethereum network is going to implement the long-awaited EIP-1559 upgrade.

According to past opinions on the crypto market, mass adoption of digital currencies has been fiercely dependent on the interest of institutional investors. The year 2020 made crypto enthusiasts’ dreams come true, as major players then entered the market.

Bitcoin and Ethereum are two eternal crypto competitors, claiming the throne of the market. Ethereum has got used to being the runner-up but has exceptionally high potential for further development. Goldman Sachs, one of the world’s largest investment banks, predicts that ‘digital oil’ may even overrun Bitcoin.

Binance, the world’s largest crypto exchange, faces a string of hurdles related to payments and legal issues.