Bank of Russia is preparing for a prolonged trial of the digital version of the national fiat to ensure this is a “full-fledged ruble,” the head of the monetary authority has emphasized. The regulator has put forward some conditions for the implementation of the new currency project. Bank of Russia Sets Conditions for Digital Ruble…
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According to official data, Russia’s inflation rate reached 8.1% in October, the highest level in almost six years. The Bank of Russia will only fully adopt a central bank digital currency (CBDC) if the digital ruble meets several conditions within pilot tests, governor Elvira Nabiullina said. Nabiullina spoke of the digital ruble before the State…
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Inflation has continued to make the price of goods and services in America rise as the U.S. dollar’s purchasing power is not what it used to be. Meanwhile, the Obama administration’s former economic advisor, Larry Summers, recently told the press that “We’re going to see inflation of a kind we haven’t seen in 30 years.”…
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The classic bearish setup projects Litecoin’s price potentially falling to $200 in the coming sessions. A 37% November price rally in Litecoin (LTC) risks exhaustion as the “silver cryptocurrency” hints at forming a double top chart pattern. The classic bearish reversal setup appears when the price forms two consecutive peaks of almost the same height, with…
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Many analysts agree that the “dynamic support” could boost accumulation sentiment in the ETH market. Ethereum’s native token, Ether (ETH), could see yet another strong rebound in the sessions ahead as its price falls into a trading zone with a recent history of attracting buyers. The rising trendline has been triggering ETH’s price rebounds since…
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Rising U.S. inflation and overblown fears about Evergrande contagion might be factors behind BTC’s recent pullback, but most analysts view the drop as a “necessary retest.” Volatility is the name of the game in the cryptocurrency market and the Nov. 11 evening sell-off in the price of Bitcoin (BTC) is a reminder that new all-time…
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U.S. inflation continues to roar higher as this week’s data from the consumer price index (CPI) jumped 6.2% from a year ago. Americans are concerned as the Federal Reserve has expanded the monetary supply like at no other time in history, suppressed the benchmark interest rate, and U.S. politicians are creating multi-trillion-dollar packages with money…
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“Our long-term vision is to create a currency that is stronger than any fiat currency that exists now,” said Reserve community manager Yens Michiels. One under the radar cryptocurrency-powered payment app that’s been gaining traction across Latin America is Reserve. The platform acts as a convenient way for people to convert their local currencies, which…
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In mid-September China’s Evergrande Group, the country’s second-largest property developer by sales, sparked fear in the global economy as the company’s market valuation plummeted to an 11-year low. Global economists have warned that if Evergrande defaults on its debts, it could start a credit contagion similar to the Lehman Brothers bankruptcy in 2007. So far,…
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BTC hit a new all-time high! It didn’t last long, however… Bitcoin price hit another all-time high at $69,000 as Ether continued its long slog toward $5,000 after reaching a new high at $4,868 earlier today. Shortly after hitting this fresh milestone, however, traders began taking profit, leading to a nearly-$7,000 drop which plunged BTC…
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