Ethereum’s bearish U-turn? ETH price momentum fades after $1.6K rejection
Ethereum’s native token Ether (ETH) tumbled on July 26, reducing hopes of an extended price recovery. The ETH/USD pair dropped by roughly 5%, followed by a modest rebound to over $1,550. Ethereum gets rejected at $1,650 These overnight moves liquidated over $80 million worth of Ether positions in the last 24 hours, data from CoinGlass […]
U.S. dollar index retreats from 20 year highs — but will DXY topping spark a Bitcoin recovery?
The U.S. dollar index (DXY) retreated broadly from its prevailing bull run in the past two weeks, dropping by up to 3.20% after hitting its two-decade high of 105. Overvaluation risks grip dollar market Dollar’s correction in the last two weeks preceded twelve months of relentless buying. To recap, the greenback’s weight against the basket […]
Chairman of the Digital Euro Association: ‘The primary aim of the digital euro is still not clear’
The European Central Bank (ECB) is planning to launch a prototype of the digital euro in 2023. In the next five years, Europe could have its own central bank digital currency (CBDC) up and running. However, there are still many questions surrounding the prospective digital currency. In what form could it be issued? Is the […]
EU finance chief says digital euro bill coming in early 2023
The European Commission has announced that a bill for a digital euro will be proposed in 2023. As first reported by Politico, EC finance chief Mairead McGuinness officially disclosed the EU’s formal consideration of digital euro legislation at a fintech conference on Wednesday. “Our goal is to table legislation in early 2023,” the Commissioner for […]
European Central Bank announces digital euro advisory group members
The European Central Bank (ECB) has announced the formation of a market advisory group for the purpose of exploring the infrastructural and circulation potential of the digital euro from the perspective of industry spearheads. The group also aims to uncover the digital euros optimal function within the pan-European currency’s vast payments ecosystem. The group includes […]
ECB says digital euro may be needed to combat 'artificial currencies'
The European Central Bank has warned that a CBDC or digital euro may be required to head off the spectre of “artificial currencies” dominating cross-border payments. In ECB’s annual review of the euro dubbed “The international role of the euro”, economists Massimo Ferrari and Arnaud Mehl conveyed concerns over the rise of artificial currencies led […]
ECB VP says crypto has weak fundamentals and is not a real asset amid 30% dip
Luis de Guindos, vice president of the European Central Bank, has dismissed the value proposition of cryptocurrencies as investment assets. Speaking to Bloomberg TV, the ECB vice president remarked that crypto should not be seen as a real investment. “When you have difficulties to find out what are the real fundamentals of an investment, then […]