Citi raises stablecoin market forecast to $4 trillion!
Bitcoin’s slump signals a “unique” Q3 alt season?
UN demonstrates blockchain with pension funds, potentially the ultimate ID technology!
Will SoftBank and Cathie Wood’s Ark join the Tether fundraising fray?
Let’s analyze the news on the global economy and cryptocurrencies and consider economic trends together! This Saturday, September 27th, we’ll be discussing today’s cryptocurrency news and on-chain market conditions.
This program brings you the latest news to help you with your asset building. Let’s start by looking at 24-hour data headlines from the cryptocurrency market.
First, we’ll take a look at the news that Citigroup has significantly raised its stablecoin market forecast. They now expect the market to reach $4 trillion by 2030.
Stablecoins are cryptocurrencies whose value is pegged to fiat currencies such as the U.S. dollar, and they are rapidly gaining popularity as a reliable means of trading and settlement. While many financial institutions have been closely monitoring its growth, Citi has once again emphasized its growth potential.
The underlying reason is that digital payments continue to expand globally, creating demand that the traditional banking system alone cannot fully meet. Additionally, regulators are also working to improve the transparency and security of stablecoins, which could be seen as increasing confidence in the market as a whole.
Next, Grayscale published an interesting analysis, pointing out that Bitcoin’s sluggish performance is a sign that a “unique” altcoin season is approaching in the third quarter.
An altcoin season is a period in which cryptocurrencies other than Bitcoin experience a relatively large increase in value. While Bitcoin has driven the overall market in the past, this time things seem to be looking a little different.
The underlying factors behind this are a diversifying investor base and expectations for new projects. According to Grayscale, this trend is “distinct and distinct,” and market participants are beginning to pay more attention to altcoins than ever before.
The following three factors are cited as determining factors influencing the “altcoin season.”
First, the stability or stagnation of Bitcoin prices is changing investor sentiment, encouraging a desire for diversified asset diversification.
Second, capital inflows into certain altcoins are increasing due to expectations for new technological developments and use cases.
Third, the market as a whole is adapting to regulatory environments and macroeconomic trends, leading to the development of diverse investment strategies.
Next, let’s touch on a UN experimental project. A pension fund’s experiment using blockchain technology has reportedly evaluated it as the “ultimate” identity verification technology.
This demonstrates that blockchain is effective not only for cryptocurrency applications, but also for public ID management and transparency. Reliability and tamper-proofing are particularly essential for the management of large amounts of long-term assets, such as pension funds. In this regard, blockchain is attracting attention as an ideal solution.
Finally, let’s talk about Tether (USDT), which has been the subject of much discussion in its fundraising round. According to reports, well-known investors such as Japan’s SoftBank and Cathie Wood’s Ark Investment are among those considering participating.
Tether is one of the world’s largest stablecoins, but its transparency and reserves have always come under scrutiny from the market. This latest fundraising is seen as an attempt to restore trust and expand the business, and the participation of major investors is viewed as a positive development.
Today, we’ve introduced five important topics. All of these will have major impacts on shaping the cryptocurrency market and digital financial environment over the next few years.
That’s all for today’s news highlights. Our channel provides in-depth, specialized features focusing on valuable news from the cryptocurrency world. If you find this channel valuable, please share, follow, and turn on notifications.
See you tomorrow.
