The woes of the Chinese slow economy continue to deepen
Asian stocks were mixed on Wednesday, with stocks high in Japan and Australia due to good company reports from the US. Inflation in the UK is slowing down, which may lead to further rally in bonds if interest rate hikes are reduced. The President of the Dutch central bank, Klass Knot, stated that the ECB may not hike rates beyond its next meeting. The crypto market is up by 0.35% on Wednesday, with most top assets in the green.
The Next Cryptocurrency To Explode
1. Chimpzee (CHMPZ): Chimpzee is a project that raises awareness about the environment and offers financial aid to projects fighting deforestation and protecting endangered animals. The project has a token burn scheduled to reduce the number of CHMPZ in circulation and boost the token’s value.
2. Stellar (XLM): Stellar’s price surged after Ripple’s victory against the US SEC, but has cooled off. However, a bull run may be in sight.
3. XRP (XRP): XRP’s future is getting brighter after Ripple’s court victory. The US Senate’s decisions concerning cryptocurrencies are expected to be influenced by the ruling, leading to optimism around XRP.
4. Maker (MKR): Maker is performing well in the market and is up by 8.25% as of now.
Hot Take
While the recession is slowing down in some economies, the high cost of living may hinder investment for the average household. Whales holding large amounts of assets may dominate the crypto space for now, forcing platforms to integrate with the daily life of the average person to survive.
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