Blockchain
How Difficult Is It for Digital Yuan to Displace Tether?
China’s national bank advanced money (CBDC) is normally distinguished as an approach to challenge the strength of the US dollar, not bitcoin (BTC). In any case, it might battle to discover reception in specialties where crypto variants of the dollar like Tether (USDT) flourish. At the Unitize Decentralized Digital Conference, Charles Yang from Genesis Block clarified why the DCEP, ordinarily […]
The post How Difficult Is It for Digital Yuan to Displace Tether? appeared first on Coin News Asia.

China’s national bank advanced money (CBDC) is normally distinguished as an approach to challenge the strength of the US dollar, not bitcoin (BTC). In any case, it might battle to discover reception in specialties where crypto variants of the dollar like Tether (USDT) flourish.
At the Unitize Decentralized Digital Conference, Charles Yang from Genesis Block clarified why the DCEP, ordinarily alluded to as the advanced yuan, isn’t especially appealing as a crypto substitution.
Yang recognized two key drivers of crypto appropriation in Asia. The first is hypothesis, noticing that brokers from nations like Korea and China have a higher inclination to face challenges. In any case, past that, crypto’s borderless nature is particularly helpful for Asian brokers:
“Any country that has these capital constraints – Korea is a big one, China’s obviously another major one – [where] people just can’t go through regular banking channels to send money to a different country. […] This is the major use case of crypto right now.”
From that point of view, a concentrated and bank-gave advanced cash may not be a decent substitution to USDT, as Yang accepts that the principles for capital controls “won’t change.”
He likewise raised a significant worry for the DCEP’s internationalization and how different nations may respond:
“For instance, if China launches DCEP on their blockchain, and they want other countries to accept it, these new countries need access to that data.”
Regardless of whether China’s national bank would impart that information to different nations stays an open inquiry.
Yang clarified that USDT is getting a charge out of huge notoriety in Asia as countless dollars are being exchanged each day. Notwithstanding past worries about its stores, certainty among brokers stays high, particularly inside time spans of hours or days.
As indicated by him, China can only with significant effort shorten Tether course in the nation, in spite of the danger it might posture to capital controls and oversight.
Then again, the DCEP would need to set up itself in major crypto markets and trades to start challenging USDT’s strength:
“It’s just a means of moving value. That’s the most practical way to view it. If you accept it, how quickly and how reliably can you offload it without a great sacrifice?”
Hence, absence of worldwide reception could make it hard for China to assume responsibility for the cryptographic money biological system through the computerized yuan – in any event until further notice.
Get the latest in Asian Bitcoin news here at Coin News Asia.
Source: http://www.coinnewsasia.com/how-difficult-is-it-for-digital-yuan-to-displace-tether/
Blockchain
TRON’s First Cross-Chain Prediction Market Comes Through a Partnership with Prosper


The popular blockchain project TRON will introduce the DLT-agnostic prediction market Prosper to its ecosystem. TRON users and TRX holders will be able to provide liquidity and enhance the success-rate of the prediction market solution.
TRON Teams Up With Prosper
Justin Sun’s TRON announced its latest partnership in a press release shared with CryptoPotato earlier today. It informed that the two blockchain projects have teamed up to address some of the issues related to decentralized prediction markets.
Such tools have been active for a while, but the statement highlighted the lack of sufficient liquidity as a major hurdle on their way to receive mass adoption. This comes mostly because each prediction market “has traditionally been segregated to a single chain,” and not enough users could provide the necessary liquidity to produce accurate predictions.
Prosper works similarly – the higher the liquidity is, meaning more users are involved, the more “predictions are made, leading to a more accurate and robust prediction outcome based on greater collective insight from the crowd.”
Furthermore, Prosper operates a cross-chain platform, which enables it to aggregate liquidity into its platform regardless of the user’s access point.
With the introduction of TRX, one of the largest digital assets by market cap, TRON and Prosper expect a surge in the liquidity to the underlying pool. Additionally, the integration will enable users to receive access to new applications that could impact their investment strategies and potential earnings.
The statement also touched upon a free insurance pool provided by Prosper. It allows the platform to repay any funds stolen from hacks from an emergency fund that is automatically set aside.
This partnership with TRON is an extension of Prosper’s efforts to collaborate with the biggest players of the DeFi world.” – said Iva Wisher, co-founder of Prosper.
TRON Aims at Ethereum
The announcement further explained that TRON is currently “working to create a competing DeFi ecosystem that rivals its counterparts while allowing for inexpensive transactions, creating a win-win situation for platform users.”
The PR outlined Ethereum’s major role in the space but touched upon its scaling issues, which have caused significant transaction delays and high gas costs.
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Blockchain
XRP, Polkadot, Cosmos Price Analysis: 03 March

At the time of writing, bullish movements were underway across the crypto-market, with the same precipitated by Bitcoin’s foray above the $50,000-mark. Thanks to BTC’s movement and owing to the correlation shared by the market’s alts with the world’s largest cryptocurrency, the likes of Polkadot, XRP, and Cosmos were all rallying. At press time, however, their daily charts were yet to register more than a minor uptick in price trend.
XRP

Source: XRP/USD on TradingView
Once one of the mainstays of the market top-five, XRP, at the time of writing, was ranked 7th on CoinMarketCap’s charts. Thanks to its own topsy-turvy price performance over the last few months and the performances of altcoins such as Polkadot and Cardano, the crypto is no longer among the market’s top-five.
Like the rest of the market, XRP too bore the brunt of corrections after Bitcoin dropped below $50,000. In fact, the altcoin fell by over 25% in a 5-day period.
Over the last three days, however, the cryptocurrency seemed to be gaining some bullish momentum. In fact, on the hourly charts, XRP’s hike was observed to be even more significant. However, at the time of writing, it was still difficult to predict whether the crypto would be able to sustain its movement north.
On the contrary, XRP’s indicators continued to flash bearish signals as while the Parabolic SAR’s dotted markers were well above the price candles, the Awesome Oscillator was still noting negative market momentum.
With the legal status of XRP still up for debate in the United States, it is difficult to ascertain what the future has in store for the altcoin.
Polkadot [DOT]

Source: DOT/USD on TradingView
One of the cryptos to have replaced XRP on the rankings, the last few weeks and months have been great for Polkadot, with the altcoin registering its ATH just a few weeks back. However, like most alts, it too dropped dramatically on the charts after BTC’s depreciation, with the crypto falling by 17%.
Curiously, since then, DOT has been on an impressive uptrend, with the alt up by over 22% in the last 7 days. With the rest of the market pumping at press time, it seemed likely that these gains would be pushed even higher.
While the width of the Bollinger Bands suggested some degree of near-term price volatility, the Relative Strength Index was nearing the overbought zone. Here, it’s worth noting that XRP’s price has corrected itself the last two times the RSI has climbed into the said zone.
The project made headlines recently after a Polkadot-based platform raised $1.6M in funding from venture capitalists.
Cosmos [ATOM]

Source: ATOM/USD on TradingView
ATOM’s price movements shared more similarities with the likes of XRP, than Polkadot, with the altcoin also gaining on the charts only recently. In the last 7 days alone, ATOM has climbed by 12%. However, the said hike did come on the back of a 16% depreciation. While the altcoin’s market was trending upwards at the time of writing, it is worth noting that ATOM’s indicators on the daily timeframe were yet to underline any bullishness.
While the MACD line was under the Signal line, despite the bearish momentum falling on the histogram, the Chaikin Money Flow was heading south. If these indicators reverse course in the near-term, a trend reversal can be expected soon.
Source: https://ambcrypto.com/xrp-polkadot-cosmos-price-analysis-03-march
Blockchain
Bitfinex launches Bitfinex Pay for merchants to accept payments in ETH, BTC


Crypto exchange Bitfinex launched a payment widget dubbed Bitfinex Pay that will aim to provide online merchants with a means of receiving “seamless” digital token payments.
Merchants can integrate the payment technology onto a website facilitating e-payments. Users will have the option to pay with various cryptocurrencies which include Ethereum (ETH), Bitcoin (BTC), Lightning Network BTC (LN-BTC) and Tether (USDt) via Ethereum or Tron.
Payments made via Bitfinex Pay will be directly deposited into a merchant’s exchange wallet on Bitfinex. The value of payments is capped at $1,000.
Furthermore, customers will not have to pay any processing fees for using Bitfinex Pay. However, transaction fees incurred on the relevant blockchain will be borne by online merchants and their customers.
In a release shared with AMBCrypto CTO at Bitfinex Paolo Ardoino said:
Bitfinex Pay enables merchants to be easily equipped to support crypto payments as increasing numbers of consumers become more comfortable with paying for goods and services using digital tokens.
“Eligible” merchants who choose to integrate the widget on their websites will first need to register and verify their Bitfinex account to at least the intermediate level and apply for merchant verification. Merchants can create a sub-account on verification.
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