Arthas🎩🔮🍖✨🎭🐹
@cursedarthas
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Stablecoin instead of green paper💲
Russian authorities are considering legalizing stablecoins for cross-border settlements, which could greatly simplify international transactions in the face of sanctions. Stablecoins, being crypto-assets tied to the value of underlying assets (e.g., the U.S. dollar or gold), are less volatile than other cryptocurrencies and therefore more suitable for stable settlements.
It is reported that some large Russian companies, such as metallurgical holdings, have already started using USDT for payments with China🐉
Most likely, the legalization of stablecoins in Russia will trigger retaliatory measures from U.S. regulators, which could have a negative impact on the crypto industry as a whole.
Thus, while the global crypto market may become less stable and less attractive to investors, Russia sees promising prospects in using stablecoins for international settlements, particularly with BRICS countries and regions aiming to reduce reliance on traditional financial systems. 0 reply
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Today, the crypto market is disjointed: Bitcoin📉 is declining, some alts are rising, and BTC dominance has decreased, though the long-term trend is upward. SOL, TON, NEAR, and ADA are benefiting, while meme coins like PEPE are trailing BTC.
Amid a positive macroeconomic backdrop, trading volumes are low. Jerome Powell spoke softly about US monetary policy at the ECB forum, noting effective measures, declining inflation, and a cooling labor market. The overall tone was positive.
US markets continued to rise, with Microsoft reaching a $3.4 trillion market cap💼 and Tesla surging 10.19% after exceeding delivery expectations.
Crypto is expected to rise, but liquidity is low due to seasonal factors. Funds are shifting from overbought to undervalued tokens, with stops providing liquidity. TON, for example, rose 4.3% on low volume, indicating small amounts can move prices in a "thin market." This can be profitable but isn't indicative of long-term trends, especially before Friday's labor market data📊. 0 reply
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