In his opening remarks at a conference in Basel, Switzerland, on Nov. 8, Carstens called central bank digital currencies (CBDCs) the “central element” of this leadership, elaborating on the potential threats and challenges to implementing them. Continue Reading on Cointelegraph More
Meanwhile, NUGX, a new player in the crypto market, is gaining traction. It witnessed a 20% price surge in its second-stage presale where investors can claim 50% of their tokens. The token price is currently at 0.012 USDT, targeting 0.020 USDT, with over 29 million NUGX sold. This rapid growth and the $240K raised in the presale have drawn the interest of ‘crypto whales’.NUGX introduces a unique selling point by combining gaming and finance. It offers a Play-to-Earn (P2E) gaming model that presents real-world utility. Players can mine virtual gold during treasure hunts and trade it for real gold. This feature has made NuggetRush popular among crypto beginners and the youth.In addition to this, NUGX offers revenue opportunities to miners in underdeveloped countries through non-fungible tokens (NFTs) representing game characters and utility assets. These NFTs are exchangeable for rare RUSHGEM NFTs. Holders can stake their NFTs for up to 20% APY.To ensure fair distribution, NuggetRush has allocated 43% of its coins for public purchase. Furthermore, it offers a Rush Guild membership which includes governance rights, VIP access, and rewards. Given its unique real-world utility, significant funds raised, and the attention of ‘crypto whales’, NuggetRush is poised to become a strong contender in the crypto market.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More
HSBC has partnered with Ripple-owned tech firm Metaco to integrate its institutional platform Harmonize with HSBC’s new custody service for digital assets, the firm announced on Nov. 8.Continue Reading on Cointelegraph More
Bailey underscored that Brexit has led to a reduction in the UK’s economic openness, affecting its trading prospects and altering its position in global trade. However, he refrained from taking a political stance on Brexit, acknowledging its role in the current economic situation.In addition to Brexit, Bailey pointed out that major global disruptions such as the Covid-19 pandemic and the Russia-Ukraine conflict have also contributed to worldwide economic fragmentation. These external shocks have further impacted the economic landscape and have compounded the effects of Brexit on the UK’s economy.Despite these challenges, Bailey remained optimistic about establishing new international trade relationships. He stressed the importance of a commitment to free trade principles as a key factor in recovering the UK’s standing in international commerce.The governor’s speech highlights the ongoing challenges facing the UK as it navigates its post-Brexit economic landscape. His emphasis on free trade principles suggests a potential pathway for the UK to regain its footing in global commerce amidst these challenges.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More
The company’s international payment network now allows customers to access almost complete global payout coverage in over 70 markets. As part of their expansion strategy, Ripple has also partnered with XRP Ledger’s decentralized exchange to broaden global liquidity options.In addition to expanding its geographical reach, Ripple is refining its payment technology to make the transfer of value as seamless as information flow. The upcoming Ripple Payments solution aims to provide an all-encompassing solution for financial institutions (FIs) and small and medium enterprises (SMEs) in more than 70 payout markets.Onafriq, a digital platform focused on Africa’s growth, plans to leverage Ripple Payments to create three new payment corridors that will connect Africa globally.In other developments concerning the company, Ripple has seen success in the ongoing lawsuit filed by the Securities and Exchange Commission (SEC). The SEC’s appeal was denied and charges against executives Brad Garlinghouse and Chris Larsen have been dropped. This legal victory marks a significant milestone for Ripple as it continues to expand its operations globally.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More
Cointelegraph delved into the world of regenerative economies and finance at Solana Breakpoint in Amsterdam, facilitating a panel featuring three speakers who are intimately involved in projects leveraging blockchain technology to work toward meeting sustainable development goals (SDGs) around the world.Continue Reading on Cointelegraph More
Further cementing the bearish case for the DXY is a clear rejection at a major Fibonacci resistance zone. This rejection is not just a typical pullback but one that takes place at a high time frame resistance level, making it a significant event for chart watchers. Compounding this technical breakdown is the breach of the blue uptrend line, which had supported the index since July. The violation of this trend indicates a shift in momentum, suggesting that a prolonged period of strength for the dollar is losing steam.Source: TradingViewTurning our gaze to the Bitcoin (BTC) chart, there is a palpable sense of anticipation. Typically, Bitcoin has an inverse relationship with the dollar; when the DXY weakens, Bitcoin often rallies as the decrease in dollar strength makes alternative assets more attractive.The leading cryptocurrency’s upward trajectory has also been backed by several lower time frame indicators flipping green. If the DXY continues its descent, we could see a concurrent increase in Bitcoin’s ascendancy, potentially taking it toward uncharted highs. The market sentiment appears to be in favor of risk-on assets, which typically benefit in a weakening dollar environment.Glassnode’s CEO and lead analyst has echoed this sentiment, concurring that the DXY appears poised for further downside following the channel break and encounter with the Fibonacci resistance. With such technical confluence, market participants are on high alert for the potential implications on cryptocurrency markets.This article was originally published on U.Today More
SEBA’s Hong Kong subsidiary, SEBA Hong Kong, received the regulatory nod to offer a range of crypto-related services in the region. According to the data available on the SFC website, SEBA received the license on Nov. 3.Continue Reading on Cointelegraph More
