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RSV Price   

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RSV

Reserve  

#RSV

RSV Price:
$1.13
Volume:
$182
All Time High:
$1.52
Market Cap:
$1.8 M


Circulating Supply:
1,573,788
Exchanges:
2+
Total Supply:
1,573,788
Markets:
3+
Max Supply:
Pairs:
9



  RSV PRICE


The price of #RSV today is $1.13 USD.

The lowest RSV price for this period was $0, the highest was $1.13, and the current live price for one RSV coin is $1.13340.

The all-time high RSV coin price was $1.52.

Use our custom price calculator to see the hypothetical price of RSV with market cap of BTC or other crypto coins.


  RSV OVERVIEW


The code for Reserve crypto currency is #RSV.

Reserve is 3.2 years old.


  RSV MARKET CAP


The current market capitalization for Reserve is $1,783,733.

Reserve is ranking upwards to #898 out of all coins, by market cap (and other factors).


  RSV VOLUME


There is a weak volume of trading today on #RSV.

Today's 24-hour trading volume across all exchanges for Reserve is $182.


  RSV SUPPLY


The circulating supply of RSV is 1,573,788 coins, which is 100% of the total coin supply.

A highlight of Reserve is it's limited supply of coins, as this tends to support higher prices due to supply and demand in the market.


  RSV BLOCKCHAIN


RSV is a token on the Ethereum blockchain.


  RSV EXCHANGES


RSV is available on several crypto currency exchanges.

View #RSV trading pairs and crypto exchanges that currently support #RSV purchase.


  RSV RESOURCES


Websitereserve.org
Twitterreserveprotocol
Redditr/reserveprotocol
Telegramreservecurrency
Mediumreserve-currency/we-are-forking-rsv-to-enable-meta...


  RSV NEWS


Top 5 Cryptocurrencies to Watch if the US Federal Reserve Cuts Rates

    TL;DR The COVID-19 pandemic led to massive economic disruptions, prompting the US government to print trillions of dollars, which resulted in high inflation. To counter this, the Federal Reserve raised interest rates to 5.25%- 5.50%. Lowering rates, on the other hand, could boost investment in numerous cryptocurrencies, with the Fed previously hinting at such a pivot. Apart from the numerous victims and pressure on the health sector, the outbreak of the COVID-19 pandemic at the start of 2020 resulted in vacated jobs, uncertainty, isolation, financial instability, and many other setbacks. Amid those gruesome conditions, the US government printed trillions of dollars to support the crippled economy. However, the increased money supply resulted in surging inflation rates and further problems for America's fiscal policy. The US Federal Reserve stepped in by enforcing multiple anti-inflationary measures, such as raising interest rates. Between March 2022 and July 2023, the central bank lifted the benchmark 11 consecutive times, with the current level standing at 5.25%-5.50%. The latest data shows that inflation in the US has cooled off, meaning the Fed might soon pivot from its aggressive regime. In the following lines, we will observe how such a measure might impact the prices of some of the leading cryptocurrencies. Bitcoin (BTC) The largest digital asset in terms of market capitalization may significantly benefit once the Fed lowers interest rates. The move ... read More



This Public Japanese Firm Has Added Bitcoin as Its Reserve Asset

    Bitcoin has continued to gain mainstream adoption, with major corporations and top industry dogs incorporating the digital asset into their long-term financial strategies. Metaplanet, a Japanese investment and consulting company listed on the Tokyo Stock Exchange, is the most recent firm to make such a remarkable move. Metaplanet Makes Bitcoin Reserve Asset According to an official release, Metaplanet has adopted Bitcoin in its treasury management strategy, making the cryptocurrency its reserve asset. The company will prioritize a Bitcoin-first, Bitcoin-only approach, utilizing long-dated Japanese yen (JPY) liabilities and periodic share issuances as financial options to continually purchase more BTC. 'Metaplanet views bitcoin as fundamentally superior to any and all other forms of political currency, traditional stores of value and investment, and all other crypto-assets/securities. Bitcoin is an absolutely scarce digital synthetic monetary commodity, with no central issue,' the company said. Metaplanet's announcement comes roughly a month after the firm invested one billion JPY ($6.5 million) into BTC, marking its transition to the leading crypto asset. The investment and consulting firm said the move is a response to the economic pressures on Japan, the weak yen, long periods of negative interest rates, and high government debt levels. Metaplanet's new approach will increase on a BTC per share basis, enhancing shareholder value in the long term. Struggles of the Japanese Y... read More



Investment Firm Makes Bitcoin Its Strategic Reserve – Impact On Pr...

    Early-stage investment firm Metaplanet announced on Monday that it's adopting Bitcoin (BTC) as its sole 'strategic treasury reserve asset.' This audacious decision signals a growing confidence in the controversial cryptocurrency as a legitimate store of value and hedge against traditional economic woes. Yen Under Pressure, Bitcoin On The Rise Metaplanet's decision comes amidst a backdrop of sustained economic pressures in Japan. A weakening yen, coupled with high government debt levels and persistently low-interest rates, seems to have pushed the firm to seek alternative havens for its reserves. Bitcoin, with its finite supply and decentralized nature, appears to be their answer. 'Bitcoin-First, Bitcoin-Only' Approach In a clear statement of intent, Metaplanet outlined its new 'Bitcoin-first, Bitcoin-only approach' to treasury management. The company plans to strategically convert its existing yen liabilities and future share issuances into BTC, effectively accumulating more of the digital asset over time. This strategy echoes the recent moves of US-based MicroStrategy, which has become a major institutional holder of Bitcoin. Believing In The 'Absolutely Scarce' Asset Metaplanet's press release paints a glowing picture of the top crypto asset's potential. They view it as 'fundamentally superior' to traditional currencies and other investment options, highlighting its scarcity and lack of a central issuer. They are impressed by Bitcoin's proof-of-work (PoW) consensus mecha... read More



Bitcoin Plummets Toward $60k As Federal Reserve Considers Keeping Rates ...

    Bitcoin’s price fell 2.5% to $60,300 on Friday as Federal Reserve officials weighed their options for combatting stubborn price inflation in the United States. Bitcoin traded for $63,400, at noon UTC on Friday, before plummeting below $61,000 over the next few hours. According to Coinglass, the volatility triggered $175 million in liquidations over the past 24 hours. The single largest liquidation took place on a Binance BTC/USDT trade for $3.56 million. Speaking at a Louisiana Bankers Association conference in New Orleans this week, Dallas Fed President Lorie Logan suggested it may be “too early to think about cutting rates,” according to Reuters. “I need to see some of these uncertainties resolved about the path that we're on, and we need to remain very flexible,' Logan said. For the past few months, core PCE inflation – the Federal Reserve's preferred inflation metric – has failed to make meaningful progress towards the central bank’s 2% target. What’s more, data on Friday showed a jolt to consumers’ inflation expectations, with year-ahead expectations rising to 3.5% next May. During an interview with Reuters, Atlanta Fed President Raphael Bostic predicted that interest rates will still come down – but possibly only by 25 basis points before the end of the year. 'I still have that belief,' he said, noting that it is “going to take some time' before inflation finally falls. Lower interest rates are perceived... read More



Bitcoin Spikes 4% After Federal Reserve Maintains Rates At FOMC

    Bitcoin (BTC)’s price spiked on Wednesday following the latest Federal Open Markets Committee (FOMC) meeting, at which the Federal Reserve announced no changes to interest rates. The decision keeps the central bank’s benchmark rate between 5.25% and 5.50%, and pushes back investors’ hopes of a more dovish pivot for markets in the near term. Bitcoin traded for $62,000 one hour before the announcement, before shooting to $64,600 as the updated benchmark rate was revealed. In a statement, the central bank noted that economic activity in the country continues to expand, unemployment remains low, and inflation remains elevated. “The Committee does not expect it will be appropriate to reduce the target range until it has gained greater confidence that inflation is moving sustainably toward 2 percent,” wrote the Fed. According to CME FedWatch, the market believes interest rates will remain flat at the next FOMC in May, but is pricing in 60% odds of a 25 basis point reduction in June. Bitcoin’s price fell from $74,000 last week as Bitcoin ETF net flows slowed substantially, then flipped negative over the past two days. The outflows followed a hotter-than-expected inflation reading in the U.S. on March 12, clocking in at 3.2% for February. Bitcoin / USD. Source: TradingView The post Bitcoin Spikes 4% After Federal Reserve Maintains Rates At FOMC appeared first on CryptoPotato. read More



CEO Of German VC Firm Predicts XRP To Become 'World Reserve Bridge Curre...

    Oliver Michel, CEO of Tokentus Investment AG, has made a bold assertion in the latest episode of Crypto Talk - a series produced for German television in collaboration with Der Aktionaer, regarding the future role of Ripple and XRP. Michel, leading one of Germany's prominent venture capital firms, provided a deep dive into the operational excellence of Ripple Labs and the transformative potential of XRP within the financial sector. Ripple IPO And XRP Price Expectations Michel praised Ripple Labs for its professional management and strategic direction, aiming for a major initial public offering (IPO). He stressed the importance of Ripple's approach to solving the inefficiencies of cross-border payments, distinguishing between the company's operational framework and the utility of XRP. 'Ripple is a professional company It's not a foundation where some people get together and say we're going to do something. It's a professional company with the ambition of a fairly large IPO,' Michel stated, emphasizing the solid foundation upon which Ripple builds its services. Delving into the specifics of Ripple's value proposition, Michel elaborated on the inefficiencies of traditional banking transactions across borders, highlighting the advantages of using XRP as a bridge currency. He detailed, 'You give it to the bank, exchange these euros for XRPs, put them on the ledger, i.e., on the blockchain, very quickly and without major costs This means that XRP is the bridge currency, XRP Ledger... read More



Dollar's Reserve Currency Status Is the United States' Reward for Contro...

    According to Mike Novogratz, the United States' control of the seas enables it to maintain the dollar's reserve currency status. Novogratz suggested that the U.S. and United Kingdom's joint strikes on Yemen were necessary because they give residents the 'benefit of borrowing endlessly at low rates.'Impact of Attacks on Commercial Ships Passing Through the Red Sea Mike Novogratz, the billionaire and CEO of Galaxy Digital, has stated that the U.S. dollar’s reserve currency status is the reward that the United States receives in exchange for controlling the seas. According to the billionaire, maintaining this status costs the U.S. approximately $1 trillion, which is equivalent to around 4% of its GDP. The country that controls the seas has always been rewarded reserve currency status. It costs the USA approx 4% of GPD to keep that rank. It gives us the benefit of borrowing endlessly at low rates. The actions in the Red Sea are very appropriate in this context.… — Mike Novogratz (@novogratz) January 12, 2024 Novogratz, a supporter of United States President Joe Biden's Democratic Party, made these remarks just after the U.S. and the U.K. launched missile strikes targeting regions of Yemen reportedly controlled by the Houthis. The strikes on the Houthi rebels followed a surge in the number of attacks on commercial ships passing through the Red Sea. The growing attacks have forced some shipping companies to suspend or avoid using the Red Sea altogether. This... read More



Eurasian Economic Union Minister: CBDCs Will Pave the Way for the Launch...

    Sergei Glazyev, minister of integration and macroeconomics of the Eurasian Economic Union (EEU), has noted the advancements the adoption of central bank digital currencies (CBDCs) could ostensibly bring to the trading dynamics of the region. According to Glazyev, the launch of several digital currencies will allow countries to settle trades outside of the U.S. dollar as early as next year, leading to the rise of a new reserve currency. Eurasian Economic Union Hopes to Move to CBDC Settlements The Eurasian Economic Union (EEU) expects that the rise of several central bank digital currencies (CBDCs) will pave the way for the issuance of a new reserve currency different from the U.S. dollar. Sergei Glazyev, minister of integration and macroeconomics of the Eurasian Economic Union, talked about the future benefits these digital, blockchain-based technologies might bring to the trading processes between countries of the EEU and even BRICS countries. In statements given to Sputnik on Tuesday, Glazyev stated: I believe that the development of digital technologies and the already announced plans for the introduction of the digital ruble, the digital yuan and the digital rupee will lead us, perhaps as early as next year, to move first to digital settlement in national currencies. The EEU consists of several post-Soviet Union states, including Armenia, Belarus, Kazakhstan, Kyrgyzstan, and Russia, having a gross domestic product of $2.4 trillion. An Easier Route to Trade: Th... read More



Arthur Hayes Crowns Bitcoin and Ether Crypto's Reserve Assets

    BitMEX founder Arthur Hayes believes Bitcoin and Ether are crypto’s reserve assets while everything else is a shitcoin. While he assured that he loves shitcoins and is not a maxi(malist), Hayes went on to add that the first stop is always BTC since 'Bitcoin is money and only money.' Hayes talks about what to purchase to outperform the currency debasement. The smartest trade is going long crypto, according to the exec. He cited that nothing else has outperformed the increase in central bank balance sheets like crypto. Hayes on Janet Yellen's Strategies Hayes delivered a candid analysis of Janet Yellen's pivotal role as the United States Treasury Secretary and the consequential impact of her decisions on the global financial system. He characterized Yellen as the 'baddest bitch in the world,' highlighting her authority to exclude entities from the dollar-dominated financial system, equating it to a potential 'death sentence.' In his latest blog post, Hayes further criticized government-produced inflation statistics, suggesting they may downplay the true effects of inflation. He particularly pointed out the uncertainties and potential pitfalls in Yellen's potential strategies that are aimed at stabilizing the economy, issuing short-dated bills, and managing the balance between the Reverse Repo Program (RRP) and Treasury General Account (TGA). The exec hinted that Yellen's actions may lead to a substantial injection of liquidity into the financial markets. Hayes argues that... read More



Bitcoin Magazine Clashes With Federal Reserve Over Satirical 'Fednow' Me...

    According to Bitcoin Magazine, a media outlet dedicated to bitcoin news launched in 2012, representatives, including legal counsel, from the U.S. Federal Reserve have expressed concerns regarding the publication's satirical Fednow merchandise. The Fed's representatives assert that the parodied items, which bear the name, infringe upon its Fednow image and trademarks.Federal Reserve Challenges Bitcoin Magazine's Parody Merchandise in Trademark Dispute On Friday, November 3, 2023, Mark Goodwin, the editor-in-chief (EIC) of Bitcoin Magazine, published a story claiming that representatives from the U.S. Federal Reserve had threatened the publication with legal action. “The Federal Reserve alleges that Bitcoin Magazine used the trademark without permission to mislead readers into believing a connection exists between the publication and the central bank,” Goodwin details. The parodied items in question encompass nine Fednow items, including T-shirts, long-sleeves, sweatshirts, and hats featuring the name. The letter 'O' in Fednow incorporates an eye-like symbol within it, alluding to a vigilant financial eye. ??Bitcoin Magazine refutes the allegations and has composed an open letter addressed to the deputy general counsel of the Fed's Financial Services division. In the letter, the publication informs the representative that the Fed might find interest in its latest print publication, which “discusses the damages your policies have done to our economy – an... read More



Tether's (USDT) Transparency Makeover: Real-Time Reserve Reports on the ...

    Following an unexpected change in leadership, Tether seems to be charting an ambitious course for USDT. Despite facing substantial criticism regarding the perceived opacity of its reserve composition backing the stablecoin, with Paolo Ardoino taking over the role of CEO, Tether is actively working towards enhancing transparency. Tether Plans for Transparency Among other plans, Tether intends to start publishing data on its reserves in real time in 2024, according to Ardoino, who spoke with Bloomberg. The latest development comes after Ardoino was promoted as the CEO of the company, which subsequently marked the transition of previous executive Jean-Louis van der Velde into an advisory role. In its Q2 attestation signed by accounting firm BDO Italy, Tether revealed that its operational profits surpassed $1 billion for the second quarter. The stablecoin issuer's filing also disclosed an excess of $3.3 billion in reserves with around $72.5 billion of exposure to US Treasuries. This included direct T-bill investments, repurchase agreements, and deposits in money market funds. As reported earlier, Tether is one of the leading global purchasers of US Treasury bills. The exec had disclosed that USDT accumulated a substantial $72.5 billion in US Treasury bonds, propelling it to the 22nd position worldwide. In terms of Treasury holdings, the company has surpassed countries such as the United Arab Emirates, Mexico, Australia, and Spain. Future Goals Ardoino also told the outlet th... read More



Billionaire 'Bond King' Jeffrey Gundlach Warns US Dollar's Reserve Curre...

    Renowned billionaire Jeffrey Gundlach, also known as the 'Bond King,' has raised concerns over the potential risk to the U.S. dollar's reserve currency status due to rising national debt. 'The future of the U.S. dollar, and possibly out-of-control inflation, depends on getting the budget and spending under control,' Gundlach warned.Jeffrey Gundlach on Future of U.S. Dollar Jeffrey Gundlach, the CEO and chief investment officer of investment management firm Doubleline, has warned that the U.S. dollar's reserve currency status may be at risk if the United States does not get its spending under control. Gundlach is nicknamed “the Bond King” after he appeared on the cover of Barron’s as “The New Bond King” in 2011. His net worth is currently $2.2 billion, according to Forbes. His firm oversees around $150 billion of assets under management (AUM). Gundlach said in an opinion piece: 'Should the Federal Reserve continue to raise rates, which may happen, or should the national debt grow, which is certain to happen, this problem will get much worse.” He emphasized: The future of the U.S. dollar, and possibly out-of-control inflation, depends on getting the budget and spending under control. The weighted average interest rate on U.S. Treasury debt was 2.92% in August, up from 1.97% in the same time period last year. The billionaire stated that the interest rate on U.S. debt could increase to 5.5% given the current level of Federal Reserve borrowing c... read More



BTC Exchange Reserve Plunges to 5-Year Levels as Investor Cohorts Positi...

    The latest edition of the weekly market report from cryptocurrency exchange Bitfinex revealed that bitcoin (BTC) reserves on centralized exchanges have plunged further to levels last seen in early January 2018. According to the Bitfinex Alpha Report, only 2.03 million BTC currently sits on exchanges. Bitfinex noticed a correlation between the slump in exchange reserves and increased crypto prices, suggesting that the market may be in for a bull run. Bitcoin Exchange Reserves Decline Bitfinex revealed that BTC reserves on exchanges have been on a decline since they hit a peak in March 2020; this was around the time the asset's price began to rise. The high in reserves tallied with the beginning of a bull market, indicating a possible inverse relationship between BTC's price and exchange reserves. As crypto prices increased, exchange reserves continued to decline, implying that the scarcity of BTC on trading platforms may be the force behind the price movement. However, the BTC price dip in November 2021 and the continued decrease in exchange reserves challenged the relationship, showing that investors also tend to hold less BTC on exchanges during bear markets. Nevertheless, many market indicators show that long-term holders and a large part of the short-term investor cohort are currently in a HODL phase and are positioned to hold their assets for longer periods. Multiple Investor Cohorts Position for Bull Market The 12-18-month supply holders are currently in a position to ma... read More



Federal Reserve Releases Working Paper Exploring Asset Tokenization and ...

    The Federal Reserve has released a comprehensive working paper delving into asset tokenization and Risk-Weighted Assets (RWA). As the financial landscape continues to evolve, these innovative financial instruments garner significant attention for their potential to revolutionize investment strategies and reshape traditional markets. The paper explains that tokenization, similar to stablecoins, consists of five core components: a blockchain, a reference asset, a valuation mechanism, storage or custody, and redemption mechanisms. These elements establish connections between crypto markets and reference assets, enhancing understanding of their impact on conventional financial systems. Tokenized Assets Have Been Surging According to the paper, the estimated market value of tokenized assets on permissionless blockchains stands at an impressive $2.15 billion as of May 2023. This valuation encompasses tokens issued by decentralized protocols like Centrifuge and established companies such as Paxos Trust. The variability in tokenization designs and levels of transparency poses a challenge in obtaining comprehensive time-series data. Nevertheless, insights from DeFi Llama data highlight a burgeoning trend in tokenization within the DeFi ecosystem. While the total value locked (TVL) in the DeFi ecosystem has remained relatively stable since June 2022, categories related to real-world assets have grown, both in absolute value and as a proportion of the overall DeFi ecosystem. Of the esti... read More



JPMorgan Analyzes De-Dollarization Risk, Potential for Chinese Yuan to D...

    JPMorgan has provided an analysis of the risks of de-dollarization and the potential for the Chinese yuan to displace the U.S. dollar as the world’s reserve currency. The global investment bank says the renminbi could assume “some of the current functions of the dollar among non-aligned countries and China’s trading partners.” JPMorgan on De-Dollarization and Chinese Yuan JPMorgan's Global Research published a report on Thursday titled “De-dollarization: Is the US dollar losing its dominance?” Alexander Wise, who covers Strategic Research at JPMorgan, described: The risk of de-dollarization, which is a periodically recurrent theme throughout post-war history, has returned into focus due to geopolitical and geostrategic shifts. JPMorgan outlined two scenarios that could erode the status of the U.S. dollar as the world’s reserve currency. “The first includes adverse events that undermine the perceived safety and stability of the greenback — and the U.S.’s overall standing as the world’s leading economic, political, and military power,” the global investment bank detailed. “The second factor involves positive developments outside the U.S. that boost the credibility of alternative currencies — economic and political reforms in China, for example.” The report also discusses alternative currencies to the U.S. dollar. “A candidate reserve currency must be perceived as safe and stable, and... read More



BNY Mellon: US Dollar's Global Reserve Status Safe Despite BRICS Expansi...

    The Bank of New York Mellon has provided insights into why the growth of the BRICS economic alliance is unlikely to impact the U.S. dollar's dominance as the global reserve currency. 'We think the most important factor for dollar use into the next decade revolves around technology instead,' said the investment bank's analyst.BNY Mellon on US Dollar's Dominance The Bank of New York Mellon Corp. (BNY Mellon) explained in a note, published Friday, that the U.S. dollar is unlikely to lose its global reserve currency status despite the expansion of the BRICS economic bloc. The leaders of the BRICS nations (Brazil, Russia, India, China, and South Africa) recently invited six nations — Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates (UAE) — to join the alliance as new members. Bob Savage, head of market strategy at BNY Mellon, does not believe the expansion of the BRICS group is enough to dethrone the U.S. dollar. Noting that one of the BRICS objectives is to find an alternative to the USD, he wrote: The USD is unlikely to lose its global reserve status anytime soon ... new currency unions should look to technology or green baskets, rather than gold- or carbon-based ones. During their recent summit, the BRICS leaders agreed to encourage the use of local currencies in international trade and financial transactions, thereby reducing reliance on the U.S. dollar. According to BNY Mellon, the additions of Iran, the UAE, Egypt, and Saudi Arabia wi... read More



Chinese Yuan Not Ready to Topple US Dollar as World Reserve Currency, Sa...

    A global macro strategist has explained that the Chinese yuan is unlikely to replace the U.S. dollar as the global reserve currency. She emphasized that the 'weaponization' of the USD is one of the top reasons why Russia, China, and other BRICS nations have been seeking an alternative to the dollar.US Dollar v Chinese Yuan Skylar Montgomery, senior global macro strategist at Globaldata TS Lombard, an independent investment research group focusing on global macro and strategy, explained in a note on Wednesday that the Chinese yuan is unlikely to replace the U.S. dollar as the world’s reserve currency. She detailed that the U.S. dollar's global reserve currency status 'is a privilege that gives the U.S. significant political, economic, and market influence.' However, she cautioned that the U.S. government is using the USD as a political tool, as seen in the West's action to freeze Russia's currency reserves in response to the invasion of Ukraine. The strategist described: That weaponization of the dollar is part of the reason why Russia, China, and other BRICS nations have vied for an alternative to the dollar. The BRICS countries (Brazil, Russia, India, China, and South Africa) recently concluded their annual summit, and the leaders of the economic bloc agreed to promote the use of local currencies in international trade, rather than relying on the U.S. dollar. While acknowledging a worldwide de-dollarization trend and the decline of the USD's share in global currency re... read More



Tether Releases August 2023 Token Reserve Breakdown

    Stablecoin giant Tether has published another transparency report detailing the composition of its reserves, and the blockchains on which its tokens are issued. The report confirms that Tether has $3.3 billion in excess reserves, meaning its tokens are over 100% backed. Analyzing Tether’s Reserves Per the report published on Thursday, Tether owns $86.1 billion in assets, while possessing $82.8 billion in liabilities. These liabilities exist in the form of dollar-pegged USDT tokens issued across various blockchains. The largest amount of USDT (~42.5 billion) circulates on Tron, while a rivaling amount (~38.4 billion) trades on Ethereum. The next largest chain, Solana, hosts far fewer tokens at just ~$800 million USDT. 11 other chains comprise the remainder of Tether’s USDT, though three of those networks – Omni, SLP, and Kusama – are scheduled to have their support canceled in May due to lack of adoption. The company’s report reiterates claims from last month that the firm holds a 4% reserve surplus, dispelling previous criticisms that its assets and liabilities were dangerously close to the point of making the firm insolvent. These claims were based on an assurance report provided by BDO Italia, analyzing Tether's balance sheet as of June 30 2023. The excess reserves solely exist as a form of insurance and are generated using Tether’s profits from its reserve stash. Like other top stablecoins, Tether keeps the overwhelming majority of its p... read More



Bitcoin, Ethereum Technical Analysis: BTC Traders Jittery, as Federal Re...

    Bitcoin marginally declined during Friday's session, concurrent with the ongoing Federal Reserve symposium in Jackson Hole. The Chair of the Fed, Jerome Powell will be speaking at the annual meeting, and providing guidance on the upcoming policy decision. Ethereum also consolidated today.Bitcoin Bitcoin briefly fell below the $26,000 level on Friday, as traders readied themselves for Jerome Powell's speech. BTC/USD dropped to an intraday low of $25,914.93 earlier in the day, following a high of $26,406.15 on Thursday. The decline saw bitcoin move one step closer to its recent support point of $25,600, a level it has tracked for most of the week. Bitcoin chart by TradingView new TradingView.widget( { "width": "100%", "height": "400", "symbol": "BITSTAMP:BTCUSD", "interval": "D", "timezone": "Etc/UTC", "theme": "light", "style": "1", "locale": "en", "toolbar_bg": "#F1F3F6", "enable_publishing": false, "container_id": "tradingview_1247e" } ); From the chart, the decline comes after the 14-day relative strength index (RSI) was unable to move beyond a ceiling of 30.00 during yesterday's session. As of writing, price strength is tracking at 25.89, which remains highly oversold, and could be heading even lower, to a floor of 20.00. Ethereum Ethereum (ETH) also slipped today, as the world's second largest cryptocurrency moved below a recent price floor. After trading at a high of $1,668.82 on Thursday, ETH/USD bottomed out at $1,641.63 earlier in the day. This res... read More



Bitcoin Exchange Reserve Shoots Up, Pain Not Over Yet?

    On-chain data shows the Bitcoin exchange reserve has shot up during the past day, indicating that more drawdown may be coming for the price. Bitcoin Exchange Reserve Has Registered A Large Increase A few days back, a crash shook both Bitcoin and the wider cryptocurrency market, as the BTC price plummeted from above $29,000 to below $26,000 instantly. In the days since then, the asset has failed to show any signs of recovery, either, as its value has only continued to move sideways, as the chart below displays. Bitcoin is trading around $25,800, suggesting a decline of 11% during the past week. This weekly performance of the number one asset in the sector is worse than some of the other top coins, like Ethereum (ETH) and Cardano (ADA). It's currently unclear whether the asset has hit its bottom, or if more decline is on the horizon, but if on-chain data is anything to go by, the latter may be more likely. As pointed out by an analyst in a CryptoQuant post, the exchange reserve has risen during the past few hours. The 'exchange reserve' here refers to a measure of the total amount of Bitcoin currently being stored inside the wallets of all centralized exchange platforms. When the value of this metric goes up, the investors are depositing a net amount of the asset to these platforms right now. As one of the main reasons holders may transfer their coins to the exchanges is for selling-related purposes, this trend can cause bearish implications for the cryptocurrency's price. O... read More



Federal Reserve CBDC Would Threaten Privacy and Freedom, Report Warns

    The America First Policy Institute (AFPI) recently sounded the alarm on the potential dangers of transitioning to a central bank digital currency (CBDC). This revelation, in a report penned by Michael Faulkender and David Vasquez, highlights the probable perils associated with the Federal Reserve's direct issuance of a digital dollar.AFPI: A CBDC 'Would Represent the Greatest Threat to What Little Financial Privacy and Data Security Americans Enjoy' According to the AFPI's report, introducing a CBDC could grant the government unparalleled access to all financial transactions, eroding citizens' privacy. They reference the IRS's recent data exposures as an indication that federal agencies might not be equipped to handle Americans' transaction data safely. Moreover, the report cautions that a CBDC might allow authorities to selectively ostracize certain groups from the financial landscape. A case in point: the covert Obama-era Operation Choke Point, which saw officials nudging banks to sever ties with entities like payday lenders and gun dealers. “The operation was hidden from the American people for four years until it ended in 2017, with several high-level officials even lying about the existence of the program,” the AFPI report notes. “The actions of the federal government during Operation Choke Point underscore the heart of the issue with giving the federal government full authority to bypass the law in accessing and censoring Americans’ financial pri... read More



Former US OCC Officials: 'Stablecoins Can Keep the Dollar the World's Re...

    Brian Brooks and Charles Calomiris, former officials at the U.S. Office of the Comptroller of the Currency (OCC), have stated stablecoins can be tools that might help the U.S. dollar maintain its status as a reserve currency. In a recent article, Brooks and Calomiris call for regulations to allow stablecoin issuers to have the clarity needed for the assets to thrive. Stablecoins Might Help the U.S. Dollar Maintain Its Reserve Currency Status Brian Brooks, former U.S. Comptroller of the Currency, and Charles Calomiris, former chief economist of the Office of the Comptroller of the Currency (OCC), have issued an op-ed article explaining how stablecoins could contribute to maintaining the status of the dollar as a reserve currency. Brooks and Calomiris detail that stablecoins can be significant tools in the fight against worldwide de-dollarization, serving as catalysts for the demand for dollars for citizens in developing countries, even when their governments do not support dollarization per se. They cite Argentina and Venezuela as examples of countries facing extremely high inflation levels with governments taking measures to cut dollar dependency, but whose citizens use dollars to protect their incomes and savings from losing value while stored in their national currencies. In this sense, they explained: Faced with the dismal prospect of saving their wages in local currency stored in local bank accounts, more citizens of high-inflation countries are opting to use doll... read More



Federal Reserve Launches New Program to Oversee Crypto Activities of Ban...

    On Aug. 8, the Federal Reserve elaborated that “novel activities” included complex, technology-driven partnerships with non-banks. These partnerships provided banking services to customers and activities that involve cryptocurrencies and blockchain technology, it stated. @federalreserve provides additional information on its program to supervise novel activities in the banks it oversees: https://t.co/6MiItQwO7V — Federal Reserve (@federalreserve) August 8, 2023 Fed to Monitor Crypto The Fed stated that its goal was to “foster the benefits of financial innovation while recognizing and appropriately addressing risks to ensure the safety and soundness of the banking system.” The move is counter to those made by the Securities and Exchange Commission, which is on a mission to stifle the digital asset industry in America. Additionally, the Federal Reserve Board provided more information on the process for state banks to follow before they engage in any activities involving stablecoins. They would need to demonstrate to the central bank that they have “appropriate safeguards to conduct the activity safely and soundly.” Partner at Moses Singer law firm, Howard Fischer, told Bloomberg, “The fear is that engagement with such volatile assets could put the traditional banking sector at risk,” The move may impact banks in crypto-friendly states that are still overseen by the Fed. Moreover, industry observers have highlighted potenti... read More



Federal Reserve Governor Hints at More Interest Rate Hikes

    Federal Reserve Governor Michelle Bowman says additional interest rate increases will likely be needed to get inflation on a path down to the Fed's target. “I will also be watching for signs of slowing in consumer spending and signs that labor market conditions are loosening,” the Fed governor added.More Interest Rate Hikes Likely Needed, Says Fed Governor Federal Reserve Governor Michelle Bowman indicated in her remarks on Saturday at an event hosted by the Kansas Bankers Association in Colorado that the U.S. central bank may need to implement additional interest rate increases to completely restore price stability. She also affirmed her endorsement of the rate hike decision made at last month's Federal Open Market Committee (FOMC) meeting. In July, Fed officials raised the federal funds rate to a range of 5.25% to 5.5%, the highest level in 22 years. Governor Bowman stated: Additional rate increases will likely be needed to get inflation on a path down to the FOMC’s 2% target. “The recent lower inflation reading was positive, but I will be looking for consistent evidence that inflation is on a meaningful path down toward our 2% goal as I consider further rate increases and how long the federal funds rate will need to remain at a restrictive level,” she detailed. “I will also be watching for signs of slowing in consumer spending and signs that labor market conditions are loosening,” the Fed governor continued, noting that Fed policym... read More



Tether Attestation Reveals Reserve Increase of $850 Million in Q2, Exces...

    Tether, the company behind the USDT stablecoin, has published an attestation revealing the company's financials during Q2 2023. The document, prepared by BDO, a network of accounting and consulting services, found Tether has increased its reserves by $850 million during this period, with its overall excess reserves reaching $3.3 billion. Tether Attestation Reveals Excess Reserves Reached $3.3 Billion in Q2 Tether, the company that issues the USDT stablecoin, the largest of its kind in the cryptocurrency market, has released an attestation of its financial standings, revealing the composition of its reserves as of June 30. The document, prepared by BDO, an international network of accounting and consulting firms, determined that the company increased its reserves by $850 million in Q2. The document also found that Tether's excess reserves, defined as the 'company's own profits – not distributed to shareholders and which the company has decided to keep on top of the 100% reserves that Tether maintains to back all the outstanding tokens,' reached $3.3 billion. According to Tether, the company's financial situation 'demonstrates the importance of taking the right risk management decisions and care for its community, keeping almost an additional 4% of assets within its reserves.' T-Bills and Other Investments The Tether consolidation reserves report also showed that the company has an exposure of almost $56 billion to U.S. Treasury bills ... read More



Bitcoin Miner Reserve Rising: Good News For BTC Bulls?

    Bitcoin prices have been stagnant, trading below the psychological $30,000 level. The coin is technically under pressure, declining from its peaks of around $31,800 recorded in early July 2023. Amid this development, on-chain data reveals that the Bitcoin miner reserve has been increasing, notwithstanding prevailing market conditions, bouncing back from May 2023 lows. According to data from CryptoQuant, the BTC miner reserve stands at 1.841 million as of July 30, up from 1.826 million on May 27. Bitcoin Miner Reserve Rising The increasing BTC miner reserve and relatively stable and steady coin prices suggest a sense of optimism among miners. This could improve sentiment and confidence among miners, possibly boosting prices and preventing sellers from pressing the coin even lower. Presently, as mentioned earlier, BTC is trending below $30,000. In crypto, the Bitcoin miner reserve measures all BTC in the hands of all miners and mining pools. It shows the total number of BTC that is yet to be liquidated. Price-wise, this is important. Miners frequently sell their coins to cover operational costs and realize profits. Therefore, trackers often monitor their trading patterns for valuable insights into market sentiment. Bitcoin miner reserve trends are important for traders. However, other critical factors could influence prices in future sessions, some of which might have adverse effects. One key consideration is how different countries decide to regulate cryptocurrencies,... read More



Bitcoin Loses $30K as US Federal Reserve Hikes Interest Rates by Another...

    Although most prices in the cryptocurrency market have shown high levels of stagnation in the past week, there were still several notable developments on different fronts. Starting with US regulations, this week saw discussions for a few separate bills, including the Financial Innovation and Technology for the 21st Century Act, which Democrats claimed still 'reeks' of Sam Bankman-Fried - the disgraced former FTX exec who was among the chief supporters. On the other hand, Republicans were not too happy that the stablecoin legislative proposal also failed to pass. Another talked-about point coming from the States was the Wednesday FOMC meeting. The Federal Reserve was expected to increase the key interest rates by 25 basis points after failing to do so during the previous such meeting. Typically, such moves lead to enhanced volatility for bitcoin and the rest of the market, but this wasn't the case on Wednesday. The primary cryptocurrency didn't have the best week in terms of price action, as it failed to remain above $30,000 during the weekend and hasn't been above that line since. Furthermore, it painted a monthly low beneath $29,000 on Monday. Interesting news came out from Twitter as the owner - Elon Musk - announced a rebranding and a logo change to 'X.' Additionally, he hinted at potential integration of Dogecoin, which sent the meme coin's price flying to a three-month peak during the week. Nevertheless, most crypto assets suffered in the past week, with GALA, Injective,... read More



Federal Reserve Raises Federal Funds Rate by 25bps Amidst Moderate Econo...

    In the latest Federal Open Market Committee (FOMC) report, it was stated that the U.S. economy has been experiencing moderate growth and members of the committee have decided to raise the federal funds rate by 25 basis points (bps) in order to keep a handle on inflation. Fed Raises Benchmark Bank Rate by 25bps The U.S. Federal Reserve once again hiked the federal funds rate by 25bps after pausing the month prior. It was widely accepted that a 25bps rise was in the cards as CME’s Fedwatch tool said the probability was 99%. In the statement on Wednesday, the FOMC said that the U.S. banking system was sound and resilient. Nevertheless, it expressed concern that tighter credit conditions for households and businesses might have a negative impact on economic activity, hiring, and inflation. The extent of these effects remains uncertain, and the committee remains attentive to inflation risks. Per usual, the Fed still is focused on obtaining a 2% annual inflation rate over the longer term. The Fed said: In support of these goals, the Committee decided to raise the target range for the federal funds rate to 5-1/4 to 5-1/2 percent. The fate of the 25bps rise remains uncertain, with former Fed chair Ben Bernanke and a significant number of economists suggesting it could be the final hike. The current federal funds rate stands at its highest point in over 16 years, while 30-year mortgage rates range between 6.25% to 6.5% this week, as reported by bankrate.com. The FOMC emphasized... read More



Federal Reserve Raises Rates Again By 0.25%, Bitcoin Trades Flat

    The Federal Reserve rose its target interest rate by 25 basis points on Wednesday, in line with market expectations. This brings the central bank's rate to over 5.25% – one of its highest levels since the lead-up to the 2008 financial crisis. The latest hike marks the Federal Reserve’s 11th rate hike over its last 12 policy meetings dating back to March 2022. The central bank’s mission over the past year has been to quell once rampant inflation, which peaked at 9.1% in June 2022. The latest CPI figures showed that the central bank has been successful thus far, bringing inflation back down to 3% as of last month. That said, PCE inflation – one of the Fed’s preferred metrics for rising prices – has proven more difficult to address. This casts doubt on whether the Fed is ready to cease hiking rates, or is planning more to come. “The Committee's assessments will take into account a wide range of information, including readings on labor market conditions, inflation pressures and inflation expectations, and financial and international developments,” wrote the Federal Reserve in a Wednesday statement. The central bank said that inflation remains elevated, and unemployment is low, but that tighter credit conditions are likely to affect businesses and households. “The extent of these effects remains uncertain,” it said. A 5.25% target rate hasn’t been seen since 2007, with higher rates than that last used in the earl... read More



Federal Reserve Launches Fednow for Instant Payments — JPMorgan, W...

    The Federal Reserve has launched its Fednow Service for instant payments with 35 participating banks and credit unions, as well as 16 service providers. “The Federal Reserve is committed to working with the more than 9,000 banks and credit unions across the country to support the widespread availability of this service for their customers over time,” the U.S. central bank stated.Fednow Officially Live The Federal Reserve announced Thursday that its new system for instant payments, the Fednow Service, has launched with 35 participating banks and credit unions, the U.S. Department of the Treasury’s Bureau of the Fiscal Service, and 16 service providers. Participating financial institutions include BNY Mellon, JPMorgan Chase, Peoples Bank, U.S. Bank, and Wells Fargo Bank. “The Fednow Service is designed to maintain uninterrupted 24x7x365 processing with security features to support payment integrity and data security,” the Federal Reserve detailed, adding: The Fednow Service is neither a form of currency nor a step toward eliminating any form of payment, including cash. Fed Chair Jerome Powell commented Thursday: “The Federal Reserve built the Fednow Service to help make everyday payments over the coming years faster and more convenient.” He continued: “Over time, as more banks choose to use this new tool, the benefits to individuals and businesses will include enabling a person to immediately receive a paycheck, or a company to in... read More



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