Month: June 2023

IMF’s CBDC push gets feedback from the crypto community: ‘No one wants this’

As the International Monetary Fund (IMF) continues its effort to advance the technologies behind central bank digital currencies (CBDCs), some members of the crypto community have reacted strongly against the IMF’s efforts to further the initiative.  In a CBDC policy roundtable on June 19, the IMF’s director of the monetary and capital markets department, Tobias Adrian, presented a new platform concept for cross-border payments. This includes a blueprint for a payment system that uses one ledger to record CBDC transactions. According to Adrian, the “XC platform” will have a single ledger…

Unified Ledger for CBDCs, Tokenized Assets Could Enhance Global Financial System, BIS’ Hyun Song Shin Says

“I think the actual choice of technology will really have to be decided for that particular use case,” Shin said at a Monday press briefing on the report. “It could be decentralized, like in a permissioned blockchain, but it doesn’t have to be. It could be a centralized system as well where there is a rigorous set of controls on data confidentiality, cyber resilience, and so on.” Source

BTC Is Becoming Illiquid at 147K a Month in Signal Long-Term Investors Are Accumulating

Glassnode’s illiquid supply change metric, which measures the number of coins held by illiquid wallets on a specific date compared with the same day the previous month, rose to 147,351.58 BTC ($3.9 billion) on Monday, the most since Dec. 19. The total held by illiquid entities has jumped to a record high 15,207,843 BTC, with the tally increasing by 215,000 BTC in the past four weeks alone. Source

Vimeo Launches New AI Features to Simplify Video Editing and Scripting

According to Vimeo CEO Anjali Sud, the new AI features are part of Vimeo’s vision to empower anyone to create professional-quality videos with minimal effort and resources. Leading video platform for professionals and businesses, Vimeo, has announced the launch of three new AI-powered features. These new features aim to make video creation significantly easier and faster. Introducing Vimeo’s Smart Scripts, Smart Prompts, and Smart Cuts Vimeo’s three new AI tools are an AI script generator, a built-in teleprompter, and a text-based video editing tool. On its part, the AI script…

Bitcoin price ‘sideways boredom’ may last 18 months — New research

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Bitcoin (BTC) faces up to one-and-a-half years of “boredom” as the bull market gathers steam, a new prediction says. In the latest edition of its weekly newsletter, “The Week On-Chain,” analytics firm Glassnode predicted an “arduous” period for BTC hodlers next. Glassnode: Bitcoin hodlers set for 12 months’ “gradual accumulation” After gaining 70% in the first quarter of 2023, but struggling to hold its ground recently, Bitcoin is dividing opinions when it comes to future price action. With the 2024 block subsidy halving in sight, some believe a dramatic uptick…

‘Magnificent Seven’ Stocks Surging in 2023

While the ‘Magnificent Seven’ stocks have seen amazing gains and received extensive attention, it is crucial to note that not all experts are as enthusiastic. The year 2023 has witnessed a significant shift in the stock market landscape, with a new group of companies dubbed MANATAM emerging as the driving force behind the market’s impressive surge. While FAANG stocks featuring Facebook, now Meta Platforms Inc (NASDAQ: META), Apple Inc (NASDAQ: AAPL), Amazon.com Inc (NASDAQ: AMZN), Netflix Inc (NASDAQ: NFLX), and Google’s parent company Alphabet Inc (NASDAQ: GOOGL) have dominated the…

Bitcoin market cap reclaims crypto dominance with 50% share

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Bitcoin has surpassed the combined market capitalization of all other cryptocurrencies, according to recent data from TradingView. This comes against shifting economic circumstances, regulatory actions, and investor sentiment.  According to TradingView data, Bitcoin’s (BTC) market capitalization is larger than all other cryptocurrencies combined, with its dominance metric exceeding 50%. As of this writing, BTC’s dominance stood at 50.06%. BTC dominance chart | Source: TradingView This dominance marks a significant rebound from May 2021, when bitcoin’s price…