Russia’s largest bank to launch its own stablecoin

Russia’s largest bank, Sberbank, plans to launch a blockchain-based financial platform as well as a stablecoin. Would Russia finally become crypto-friendly?

Sberbank launches its stablecoin

In Russia, Sberbank has just asked the country’s central bank for authorization to deploy a blockchain-based financial platform , as well as a stablecoin .

This platform and its stablecoin will be aimed at Sberbank partner companies, not individuals. The bank is also said to have taken this initiative in response to an increasingly growing demand from its employees.

It should be noted that the country’s central bank is the majority shareholder of Sberbank . In addition, many members of the government like German Gref and Anton Siluanov are on the supervisory board of SberBank. So many peculiarities that will undoubtedly help Sberbank’s request to succeed.

The largest bank in Russia today, Sberbank is also the third largest European banking institution in terms of capitalization. Sberbank’s press service told Coindesk :

“This stablecoin will allow companies to use smart contracts on Sberbank’s platform, based on the Hyperledger Fabric blockchain. Tokenizing material goods and cash on this platform will allow full automation of transactions.

This stablecoin will unsurprisingly be backed by the Russian ruble and should see the light of day in June 2021 at the latest.

A country yet hostile to cryptocurrencies

Will the upcoming arrival of Sberbank’s stablecoin reshuffle the cards in Russia? Indeed, the country has been rather hostile to cryptocurrencies for many years.

For example, retail investors are not allowed to buy more than $ 7,750 in cryptocurrency each year . A rather surprising measure which aims to prevent the flight of capital to these assets.

Another notable example is that investors who do not report their cryptocurrencies to the authorities are subject to very heavy penalties, such as fines and even prison terms in the most extreme cases .

However, one notable difference concerns Sberbank’s future stablecoin and cryptocurrencies in the government’s sights. As the bank is owned by the Russian state, the latter can fully control and monitor the development of its stablecoin.

Russia is working on a digital version of the ruble , like many other banks around the world with their local currency.

The authorities are therefore hostile towards cryptocurrencies over which they cannot control, such as Bitcoin (BTC) or other currencies issued by private companies.

At first glance, everything suggests that the arrival of Sberbank’s stablecoin will not be a game-changer for retail investors. The cryptocurrency industry in Russia will remain as closely watched as before.

LTC nousee yli 150 dollaria, saavuttaen korkeimman hinnan vuodesta 2018

LTC: llä on vastarintaa 185 dollaria ja 225 dollaria.

Aaltolaskenta viittaa siihen, että LTC on alkanut nouseva impulssi maaliskuun alhaisimmillaan.

LTC / BTC on vastuksen kohdalla ₿0.008

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Luottamusprojekti on kansainvälinen uutisjärjestöjen yhteenliittymä, joka rakentaa avoimuuden standardeja.

4. tammikuuta Litecoinin (LTC) hinta oli korkeimmillaan 173 dollaria, korkeinta, mitä ei ole nähty vuodesta 2018.

Vaikka se voi jatkaa kasvuaan ja saavuttaa 185 dollarin vastusalueen, näyttää siltä, ​​että nykyinen ralli on huippuraskas, ja korjaava liike seuraa pian.

LTC: n pitkäaikainen liike

Viikkokaavio osoittaa, että LTC on vihdoin noussut kesäkuun 2019 huippujen yläpuolelle 145 dollariin ja on todella saavuttanut viikoittaisen lähellä tämän tason.

Jos se jatkaa kasvuaan, seuraavat vastusalueet olisivat 186 dollaria ja 225 dollaria, vastaavasti 0,5 ja 0,618 Fib retracement -tasot.

Tekniset indikaattorit ovat nousussa, mikä tukee purkautumisen mahdollisuutta ja asteittaista siirtymistä kohti hahmoteltuja vastusalueita.

Kryptovaluuttakauppias @ Pentosh1 esitteli kaavion ja totesi, että kun lopullinen vastusalue 140 dollaria on rikkoutunut, seuraa todennäköisesti merkittävä ylöspäin suuntautuva liike.

Twitterin jälkeen LTC on noussut tämän tason yläpuolelle ja todennäköisesti kasvaa siten edelleen.

Päivittäinen kaavio näyttää heikkouden merkkejä laskusuuntaisen eron muodossa RSI: ssä. Siitä huolimatta sekä MACD että stokastinen oskillaattori ovat nousussa.

Erittäin nopean kasvun takia merkittäviä tukialueita ei ole. Lähin hinta on 120 dollaria.

Bitcoin „Insane Volatility“: JP Morgan Bets Crazy BTC Between $ 50,000 and $ 146,000

Overzealous at JP Morgan? – More or less fanciful price predictions have always marked the tumultuous history of Bitcoin (BTC). Today, however, it is the very serious JP Morgan Chase & Co., one of the largest banks in the world, which sees the BTC largely exceed 100,000 dollars.

When Bitcoin competes with gold as a safe haven

Investment strategists mega-bank JP Morgan shared their analysis on the current craze for Bitcoin with the newspaper Bloomberg .

The opinion of the experts led by Nikolaos Panigirtzoglou is final. The king of cryptos has the potential to compete directly with gold as an asset class.

Bitcoin Loophole platform could thus become a recognized store of value , just like the precious metal. Even if the stabilization of the price of bitcoin would be necessary first, in a „process of several years“ , according to the experts, this would have the consequence of exploding the price of BTC:

“(…) The theoretical target of $ 146,000 for the price of bitcoin should be viewed as a long-term target, and therefore an untenable price target for this year. “

The term „not tenable“ (unsustainable) is noteworthy because it implies that JPMorgan teams do not exclude that the BTC can do this year 2021, an upward wick at these price levels, also unpublished that sky-high. This would still require an increase of more than 350% from the current price.

A price of BTC oscillating between 50,000 and 100,000 dollars in 2021?

Beware, however, of excessive optimism ! JP Morgan analysts warn that the very sharp rise in prices in recent weeks could lead to a „breathing“ (including a „correction“ ):

“The [current] valuation and the context of [too many long] positions make this start of the new year perilous for Bitcoin. “

So while speculation could push BTC to a “price consensus between $ 50,000 and $ 100,000” , this latter price point could also prove too ambitious to hold for now.