Cryptocurrency Market Review.
The review of last January week
The industry does not standstill. Recently, the central banks of the largest countries have created a group to study the phenomenon of stable coins. Studies touch on digital currencies of the central bank (CBDC).
Indeed, the stable coin from the Central Bank can increase the efficiency of international transfers, reduce costs, provide transparent control, and reduce the risks associated with counterparties. However, it is worth paying attention to the fact that the digital currency from the Central Bank can kill the market of commercial banks, as the consumer will less and less need their services.
Large banks can no longer ignore digital currencies. It is possible that shortly we are waiting for the global adoption of digital currencies. And the approval of stable coins is one step closer to bringing the world closer to crypto.
Meanwhile, Japan is not far behind. Not only is Japan one of the few countries where you can pay with Bitcoin when you walk along the streets of the capital. And also one of the few countries where there is a lot of bitcoin ATMs. Now Japan is about to issue its national digital currency. The country's leadership is seriously going to compete with China and its digital yuan, as well as the possible launch of Libra from the United States. Rumor has it that in February, there will already be a plan to create a national digital currency.
Along with these events, Tether is going to release a new stable coin XAUT, which will be provided with real gold bars. Metals will be stored in Switzerland, and XAUT will be created on the basis of ERC-20 and TRC20. Tether decided to declare its cruel intentions and ensure itself "to the fullest." Now, no one will have questions regarding the security of tokens.
The events related to Bitcoin itself add to the positive, which may change because the most critical soft fork in the history of Taproot is coming. This week, Bitcoin Core developer Pieter Wuille posted a code change for Bitcoin on GitHub. This update will increase scalability, and Bitcoin can receive smart contracts. And what is most interesting at the moment, all the developers supported this necessary soft fork.
Of the negatives, only LocalBitcoins, which continues to tighten the screws on "freedom of exchange." This time, the service suspended service for users from 21 countries (among which are countries in Africa and the Middle East, to which Bitcoin is very profitable due to high inflation). Exchange is not so free that it contradicts the idea of cryptocurrencies. As a result, anonymous sharing services will take over the entire market. Competition, nothing personal ...
And finally, about Ripple. CEO Ripple at the Davos Economic Forum said the company wants an IPO this year. The CEO believes that many cryptocurrency projects will be forced to conduct an IPO since it is this form of raising funds that are necessary for the natural development of the company.
Of course, an IPO is not the only way for companies to grow. You can move a little slower, but more confident. An IPO is not such a simple procedure and entails very high pressure from the SEC. But on the other hand, the IPO attracts large third-party investors from the foreign market. As a result, the cryptocurrency market will receive potential investors. Yes, and Ripple profitable to cut money for an IPO for quick scaling, why not? The value of the company's securities will directly depend on the price of the XRP token. And if the IPO takes place, Riplu will be even more profitable to amass his token.
At the end of the quarter, to show a good profit for the company, “brilliant” news is born, and XRP is pumped. And then either the bubble inflates on the value of the securities, or they merge “on the pump”.
P.S. According to BTC, I am trading a corridor in the range of 8250-8500 on rebounds with very shortstops.