Market focus

Last year, Cuba became only the second country in the world (after El Salvador) to allow the use of cryptocurrency as legal tender. And going one step further, it legalized all virtual assets at once. Eight months have passed since then, so let’s see where the project is now. Since September 15, 2021, Cubans could…

Following the latest decline in the crypto market, Morgan Stanley warns investors in other digital assets about the risks of a fall. However, experts suggest that the fortunes of NFTs now depend on around “blue-chip” NFT collections, like CryptoPunks and Yuga Labs’ Otherside. According to last week’s report, the steep declines of Bitcoin, Ether, and…

Breaking crypto news from the last week (May 7 – 13, 2022): May 7: Dubai’s Virtual Assets Regulatory Authority (VARA) announced plans to establish its metaverse headquarters in The Sandbox virtual world. Thus, VARA would become the world’s first regulator to enter the metaverse, showcasing the government’s attempts to turn Dubai into a hub for…

On May 7, the European Commission (EC), or, more precisely, its division called the Directorate-General for Financial Stability, Financial Services and Capital Markets Union, published a fascinating document called European Financial Stability and Integration Review 2022. Two-thirds of it was dedicated to DeFi, and having examined it, the author of these lines got the impression…

One of the earliest signs that things were going wrong for Terra came when UST deposits on Anchor started dropping Saturday – Sam Kessler and Sage D. Young analyzing on CoinDesk. The Terra money machine collapsed almost entirely Wednesday. The UST stablecoin remains deep in the sub-dollar doldrums for the third day running, and LUNA,…

The ubiquitous USDT and USDC stablecoins seem to be facing more and more aggressive young challengers. So let’s take a look at the so-called algorithmic stablecoins, as well as stablecoins backed exclusively by cryptocurrencies, to try and understand the situation in the market. The introduction of the Tron network’s USDD on May 5 was an…