After a month of consolidation, the market slowly turned around from its downward trend, the panic subsidized, and multiple currencies went up, driven by news coverage.
In the last month, the currency market stabilized, and major currencies started to rebound. XRP continued to fluctuate at a high level. BCH was stimulated by the listing of Bitmain, also rebounding sharply and maintaining its current high market position. Ethereum rebounded too by 30% from its lowest point.
BTC’s fluctuation was rather minor, therefore it was relatively stable.
Concerning the media, negativity was slowly being replaced by more positivism, while those in the currency circle steadily maintained their work.
Trend Analysis of Stable Currencies
The effects of stable currencies were assessed in the September 16th issue of the weekly report. The market has a lot of trust-based expectations towards stable currencies, and a lot of institutions are beginning to issue stable currencies.
Stable currencies have been repeatedly emphasized, particularly concerning its link with the U.S. Dollar. Credits linked with the dollar are in direct conflict with the right to print money. The institutions that have issued stable coins this time were mostly traditional institutions or institutions that were under strict supervision. The licenses for legally operating blockchain-related projects that these institutions possess are extremely hard to obtain, and the regulation is strictly maintained in developing other services. So-called stable currencies are in reality only deposit slips, not currencies of their own.
Stable coins are strictly regulated points of entry. How each dollar is converted into crypto currency, and how the crypto currency is converted back in to U.S. dollars must be reported to the regulatory authorities through ...