Bitcoin Price and Ethereum Prediction– IMF Promotes CBDC for Financial Inclusion
On October 17, Bitcoin price is trading slightly higher, above the immediate support level of $19,000. Ethereum, on the other hand, has gained more than 1% to $1,300 so far.
Major cryptocurrencies were trading in the green early during the Asian session, as the global crypto market cap grew by 0.44% on the previous day to $920 billion.
DeFi's total volume is currently $3.6 billion, whereas the total volume of all stablecoins has now reached $35.55 billion.
The top performers in the Asian session were Casper (CSPR), Synthetix (SNX), and Quant (QNT). The Casper (CSPR) price has risen by more than 16% to $0.049, while SNX's price has risen by nearly 8% to $2.27. Moreover, QNT's price rose over 7% to $199.
The Huobi Token (HT) price is exhibiting a bearish correction, losing nearly 12% in the last 24 hours to $6.6. TerraClassicUSD price has dropped more than 10% to trade near $0.037.
Here are some of the events that stood out in the crypto news section:
Central bank digital currencies (CBDC) have been promoted by the International Monetary Fund (IMF) as a means to expand access to banking services for the financially excluded. However, there may be undesirable control and surveillance implications associated with their widespread use.
Last week at the IMF-World Bank Annual Meeting, Deputy Managing Director Bo Li remarked that a CBDC's programmability might help expand access to banking services for low- and middle-income people.
To elaborate, he said:
“A CBDC can allow government agencies and private sector players to program, to create smart contracts, to allow targeted policy functions.”
As a result, the cryptocurrency market gains traction and may trade positively.
The leading cryptocurrency, Bitcoin, is consolidating near the
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