Top Cryptocurrency News Today

Recently, there’s been a flurry of news on the cryptocurrency market, from new companies joining the fray to the announcement that China is banning all forms of cryptocurrency. Individual investors have been wondering where this industry is headed. Here are some of the top stories to keep an eye on. Read on to learn more about the biggest moves in the crypto market. Then, stay tuned for more news on this trend.

Stablecoins have been the biggest winners

Cryptocurrencies are notoriously volatile, limiting the market to smaller investors and reducing its appeal to mainstream investors. One solution to the volatility problem is a stablecoin. These coins are backed by a stable asset. This type of cryptocurrency is perfect for investors who want to keep their assets in the crypto space but do not want to risk switching from fiat currencies. The switch from fiat currency to crypto is both time-consuming and expensive. Stablecoins offer investors the best of both worlds.

The popularity of these coins began to grow after the Bitcoin mania in 2017. The value of Bitcoin soared to over $20,000 before plummeting to almost zero. As a result, investors sought a more stable, digital store of value. In addition, the Federal Reserve has been investigating these coins as a possible way to regulate the market. Stablecoins are digital coins that are backed by hard assets, such as gold. As these coins are decentralized, there is no need for fiat to be exchanged for them, thereby creating a level playing field for all participants.

China’s ban on cryptocurrency is a harbinger of things to come

While the initial fallout from China’s crypto ban will be limited, some investors see this as a buying opportunity. Every ban is a recognition that the government couldn’t possibly prohibit the whole crypto market. It is important to note that the new ban is more restrictive than previous measures. While the ban itself is not the main problem, the price volatility will be. In the meantime, investors in the U.S. should remain concerned about potential U.S. regulation of cryptocurrency.

This ban was a response to concerns that cryptocurrencies could disrupt domestic payment systems. China has recently cracked down on tech giants that are dominating retail payments, rendering central bank money almost useless. Beijing is also wary of stablecoins, which are backed by fiat currencies and serve as alternative payment methods. But this is unlikely to last for long, and more countries are expected to follow suit in the near future.

Binance to acquire Cybavo

Circular, the creator of the USDC stablecoin, has agreed to acquire Cybavo, a Singapore-based crypto infrastructure startup. The acquisition will give Circle the resources to further develop its technological capabilities. As for Cybavo, it has a range of services, including crypto exchanges, blockchain gaming platforms, and decentralized finance protocols. This acquisition is likely to increase Circular’s presence in the cryptocurrency industry, as well as its institutional customer base.

The recent acquisition of Swipe by Binance is yet another significant step for the cryptocurrency industry. The two companies are working together to increase the adoption of cryptocurrency as a mainstream financial instrument. By offering both fiat and cryptocurrency payments, they will bridge the gap between the two. In addition to offering secure cryptocurrency wallets, Swipe will enable consumers to pay with their debit card. This acquisition is also expected to help Binance increase its reach in South Africa, which is currently the largest market for crypto trading in Africa.

Circle to acquire Huobi Global

On March 24, 2022, Huobi Global will list Merit Circle. When deposit volume meets demand, spot trading will begin. Withdrawals will open on March 25. The deal is a win-win for all parties involved. Circle and Huobi Global are already founding members of the Xapo-Circle alliance. Here are some things to look for when choosing an exchange:

First, Circle has already announced that it will launch a fiat-backed digital asset in the coming weeks, the Euro Coin. The new asset will launch on the Ethereum blockchain on June 30 and support other networks later this year. It is backed by euro-denominated reserves held conservatively by Silvergate Bank. As such, Euro Coin will have the same security, liquidity, and transparency as the USDC. The deal will provide a huge boost to both companies.