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Stablecoin activity has been increasingly occurring through entities that aren’t licensed in the United States, according to Chainalysis. The United States government may be losing regulatory oversight of the stablecoin market , according to a new report by the blockchain research firm Chainalysis. Stablecoin activity has been increasingly occurring through entities that aren’t licensed in the United States, Chainalysis stated in its latest North America cryptocurrency report released on Oct. 23. According to Chainalysis’ findings, the majority of stablecoin inflows to the 50 biggest cryptocurrency services have shifted from U.S. licensed services to non-U.S. licensed services since spring of 2023. As of June 2023, about 55% of stablecoin inflows to top 50 services were going to non-U.S. licensed exchanges, the report stated. Share of stablecoin inflows to U.S. licensed vs. non-U.S. licensed exchanges between July 2022 and June 2023. Source: Chainalysis The study suggested that the ...

BRICS countries are on a GOLD -accumulating spree that could spell doom for the U.S. dollar . For the uninitiated, the World Gold Council published a report highlighting that China purchased 102 tonnes of GOLD in 2023. On the other hand, Russia purchased 31.1 tonnes of the precious metal, while India accumulated 2.8 tonnes to its GOLD reserves. Though the development looks small at the global level, it could be a tipping point for the U.S. dollar . The alliance of nations buying large amounts of gold is worrisome for the future of the dollar. China, Russia, and India are advancing to eliminate the dollar-backed financial system at rapid speed. The only safe investment that could back their native currency or a new currency is gold. Also Read: BRICS Countries Buying Large Amounts of Gold To Topple the U.S. Dollar BRICS Gold Accumulating Spree Worrisome: Here’s Why Source: DailyFX.com BRICS nations buying massive amounts of gold caused the precious metals price to inc...

The US dollar’s rise has put brakes on Bitcoin’s price recovery, but lower levels are likely to attract buyers for BTC and altcoins such as DOGE. The United States dollar index (DXY) has started a strong recovery and its rise is putting pressure on Bitcoin (BTC) and the S&P 500 (SPX) index. The market participants will be keenly watching for any insights on future rate hikes when the Federal Reserve Chairman Jerome Powell speaks before the Economic Club of Washington on Feb. 7. Meanwhile, Bitcoin’s 43% rebound in January has improved sentiment among small investors. Crypto analytics firm Santiment said that the number of Bitcoin addresses holding 0.1 Bitcoin or less soared by 620,000 to hit 39.8 million, the highest level since Nov. 19. Daily cryptocurrency market performance. Source: Coin360 With the sentiment turning positive, traders usually buy the dips as they anticipate the uptrend to continue. However, some analysts believe that the dip buyers will get trapped and Bitcoin m...