Japan Announces CBDC Program, Platypus Finance Loses $8.5 Million

Name: FS Insight
Price range: $$$

Feb 17, 2023

BTC 0.85% ETH 1.78% FXS 10.85% LDO 5.14% QQQ N/A% RPL 2.54% SPY N/A%

Market Update Traditional indices are extending yesterday’s fall on the back of higher terminal rate expectations after a couple of hot economic data points this week. The $SPY (-0.91%) is holding above $400 while the $QQQ (-1.54%) has fallen just below $300. After a violent dump leading into yesterday’s close, $BTC (+3.52%) and $ETH (+3.49%) have rallied back to $24.3k and $1.69k, respectively. Liquid staking derivatives (LSDs) are outperforming today with $LDO (+15.7%), $RPL (+13.6%), and $FXS (+10.1%) all boasting double digit gains. Although alt-coins have shown impressive returns as of late, $BTC.D has risen almost 9% from last month’s lows potentially indicating fresh capital is allocating towards Bitcoin while existing capital is rotating around alt-coins within the crypto ecosystem.Japan’s central bank announced today its plans to launch a CBDC pilot program in April to test the efficacy of a digital yen. The program's two goals are to test the technical feasibility of a digital currency and to utilize the experience of existing industry leaders for expertise in designing and implementing the potential new currency. The Bank of Japan (BoJ) has been experimenting with digital yen ideas over the last two years and has watched as China’s digital yuan is beginning

Unlock this article with a FREE 30-Day Trial!

An FSI Pro, or FSI Crypto subscription is required in order to access this content.

*Free trial available only on a monthly plan

Already a member?

Reports you may have missed

FSInsight Puts Ethereum At $12,000 EOY, Bullish Forecast For Bitcoin

Crypto Receives a Boost from Strong Jobs Print, WULF Sells Hash Rate to Expand AI Capabilities

Market Update

By Sean Farrell • Oct 4, 2024

CRYPTO MARKET UPDATE The crypto market is moving higher today, lifted by stronger-than-expected jobs numbers. The BLS reported 254k jobs added last month, far exceeding the market estimate of 140k, while August's figures were revised up from 142k to 159k. The unemployment rate also dropped to 4.1% from 4.2%. In response, rates rallied, the DXY spiked, and the futures market largely priced out the possibility of a 50 bps rate...

BTC 0.85% ETH 1.78% RENDER 1.35% SOL 0.66% STX 0.27% TAO 7.99% TIA 2.28% WIF -1.79% XMR -0.21% WULF

Bitcoin will hit $200,000 in the second half of 2022, predicts FSInsight

Visa Unveils Tokenization Platform, SEC Appeals XRP Decision

Market Update

By Tom Couture • Oct 3, 2024

MARKET UPDATE Crypto is broadly lower today as geopolitical conflict continues to weigh on risk assets, with BTC 0.85% falling to $60k and ETH 1.78% approaching the low $2,300s. Aptos (APT -2.23% ) is one of the few gainers in the top 100 tokens as they have strengthened their presence in Japan via an acquisition of HashPalette, a Japanese NFT service provider and developer of Palette Chain. AAVE 11.50% is also showing slight gains following...

AAVE 11.50% APT -2.23% BTC 0.85% ETH 1.78% TOTAL XRP 2.01%

Invesco ditches its plan to launch a US bitcoin futures ETF any time soon, just before the first-ever makes its debut

Bitwise Files for XRP ETF, Crypto Prices Bounce as Oil and Gold Retrace

Market Update

By Sean Farrell • Oct 2, 2024

CRYPTO MARKET UPDATE Crypto prices have rebounded slightly following yesterday's sharp selloff, with BTC 0.85% climbing back above $61,000 and SOL 0.66% moving above $145, while ETH 1.78% is lagging, trading around $2,400. Among today's outperformers is SUI 8.74% , which appears resilient despite a $115 million token unlock yesterday. Oil is partially retracing its early rally, gold is lower on the day, and yields are moving higher, suggesting at least a temporary reversal of...