Monex CEO's views on Digital Yen to increase in Binance volume, Read Today's Top 5 Crypto News
1) Digital Yen will boost the digital currency trading - CEO of Monex Inc.
Bank of Japan will start testing for Digital Yen in 2021. Oki Matsumoto, CEO of Monex Inc sees Digital Yen as a great opportunity for non-bank digital currency. Matsumoto said
CBDCs will significantly enhance the interoperability of cryptocurrencies. It would make the cryptocurrency market more lively.
Monex Inc in 2018 had bought Coincheck, a Japanese Cryptocurrency Exchange and since then they have been active in the crypto space. He believes that introduction of CBDC in Japan will easy to convert between crypto and legal tenders within a “digital-friendly” platform.
2) Co-founder of Gold Bullion International believes in the next 5 years Bitcoin will be above $300,000.
Dan Tapiero co-founder of Gold Bullion International told Anthony Pompliano during pomp podcast
In the next five years, I can see gold at $4,000, so that’s double. But if gold is at $4,000, Bitcoin is probably somewhere between $300,000 and $500,000, so that’s a 20, 30x.
He went ahead to explain the reason behind this as institutional investors and finance whales are likely to invest between five to 15 percent of their portfolios in Bitcoin.
That’s a huge chunk. I mean, 15% of $100 trillion is $15 trillion.
3) To help Libra developers Bison Trails has launched the QT protocol.
Bison Trails, a founding member of the Libra Association has launched the Query and Transactions Clusters (QT) protocol to help developers build on the Libra network. This will allow dedicated off-chain infrastructure to read and write data to the blockchain. Aaron Henshaw, Bison Trails’ co-founder and chief technical officer said
Libra QT is a core part of our product offering for the Libra ecosystem. It allows people building on top of Libra to securely and easily integrate their exchanges and wallets, and build new and exciting applications.
4) South Korean government will implement new tax laws on cryptocurrency gains for January 2022.
As digital currency exchanges need time to implement the changes required to incorporate the new tax laws on cryptocurrency therefore South Korean government has delayed the implementation by 3 months that means the law will come into action in January 2022 instead of October 2021.
5) Binance hits new heights with more than $37 billion in trading volume in the last 24 hours.
As per data from CoinMarketCap, the daily trading volume of Binance has now reached $37,291,444,117 in the last 24 hours and for last week it was $25 billion. Yesterday, Glassnode had also tweeted that
Bitcoin futures open interest on Binance hits an all-time high (~$1.17B)