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•Centi has launched a stablecoin pegged to the Swiss franc (CCHF) which will be backed 1:1 by a Swiss bank guarantee.
•The CCHF coin will serve as the “basis” for its blockchain-based Global Payment Network and is seen as a central bank digital currency (CBDC).
•This payment network uses blockchain and web3 technology to significantly reduce the cost and time it takes for merchants to settle transactions and receive funds.

Centi Launches CHF Stablecoin Backed by Swiss Bank

Centi, a Switzerland-based startup, announced the launch of a stablecoin pegged to the Swiss franc on March 21. The token is called the Centi Franc Stablecoin (CCHF), and it will be backed 1:1 by a Swiss bank guarantee. It aims to compete with credit card payments and other traditional payment providers through its blockchain-based Global Payment Network.

Global Payment Network

Centi’s new payment network uses blockchain and web3 technology to significantly reduce the cost and time it takes for merchants to settle transactions and receive funds. It essentially allows real-time settlement between buyer and seller without deep-pocketed middlemen that operate using hidden fees and costs. Merchants do not need prior crypto knowledge or additional hardware or software to use this payments network, as it is fully integrated with current POS systems.

Central Bank Digital Currency

The CCHF coin serves as the „basis“ for Centi’s Global Payment Network, which is seen as one of closest implementations of a central bank digital currency (CBDC). This could potentially provide users with access to greater financial freedom than existing services like Paypal, VISA, or Mastercard offer.

Lower Payments Processing Fees

Centi claims processing payments through its network is 90% cheaper than established rivals like Paypal, VISA, or Mastercard due to its utilization of blockchain technology. The company intends on allowing buyers and sellers to interact directly so they can settle their transaction without needing any middlemen involved in between them.

Blueprint for Digital Currencies & Fiat On/Off Ramps

By providing such an efficient platform that reduces fees while still allowing users access to real-time payments, Centi believes they are setting up what could become an industry standard blueprint for digital currencies/fiat on/off ramps should work in future times – something they believe has yet been achieved before now.

• The European Central Bank (ECB) raised the deposit facility rate from 2.5% to 3%.
• Markets were expecting a 50bps rate hike but saw a 35% probability of this before the decision was made.
• Bitcoin remains just below $25,000 despite the ECB’s decision.

ECB Raises Deposit Facility Rate

The European Central Bank has increased the deposit facility rate by 50 bps, bringing it up to 3%. Before the collapse of SVB and Credit Suisse, markets were expecting a 50bps rate hike, but moments before the decision was made, there was only a 35% probability of this happening.

Currency Market Reactions

Currency markets reacted positively to this news with EUR/USD increasing 0.7%, GBP/USD rising 0.8%, and USD/JPY decreasing 0.9%. The currency markets generally saw positive sentiment due to the ECB’s decision as they are seen as more stable than other currencies such as Bitcoin which fluctuates in value daily.

Bitcoin Stands Firm Below $25K

Despite all of this movement in currency markets, Bitcoin remains relatively unaffected and is currently trading just below $25,000 USD per coin. This could be attributed to its decentralized nature which makes it largely immune from major policy decisions from central banks like those from the ECB or Federal Reserve in America.

James Van Straten’s Opinion on Bitcoin

James Van Straten, research analyst at CryptoSlate commented that he sees Bitcoin as “the greatest invention of the 21st century” because of its ability to circumvent intermediaries via peer-to-peer network and its decentralized nature which gives it immunity against major policy decisions by central banks around the world.

Disclaimer

CryptoSlate does not give any investment advice and readers should do their own due diligence before taking action related to content within this article as buying and trading cryptocurrencies is seen as high-risk activity.

• Hedera (HBAR) core team recently announced that it is investigating an issue with smart contracts on the network.
• The issue was first noticed by DefiIgnas and is believed to be targeting the decompiling process of smart contracts.
• Pangolin has advised users to withdraw their funds from pools and farms as soon as possible.

Hedera Experiencing Smart Contract Irregularities

The Hedera (HBAR) core team recently announced that they are actively investigating a smart contract irregularity that had been discovered. They are working directly with teams across the DeFi ecosystem to determine the cause and potential impact, and updates will be provided as they become available.

What’s Happening?

DefiIgnas published a thread describing the exploit about three hours before HBAR Foundation’s first tweet. According to him, the exploit is targeting the decompiling process in smart contracts and affecting all Hedera dApps using Hedera Token Service (HTS). There were also reports of attackers hitting pangolin and HeliSwap pools containing wrapped assets. Hashport then temporarily paused its bridge in response to these irregularities.

Advice From Pangolin

Pangolin then tweeted out advising users to withdraw their funds from pools and farms as soon as possible due to the network irregularities experienced by Hedera. This is a time-sensitive moment, so they urged everyone to act quickly while they update people with more information as it becomes available.

Impact On DeFi Ecosystem

The impact of this exploit on DeFi projects remains unknown at this point in time, but it does pose some risks for projects relying on HTS for its operations or transactions. Users should be aware of any irregular activities occurring on their wallets or accounts, especially those related to HBAR tokens, until further notice from either Pangolin or Hedera’s official channels regarding this incident is released.

Conclusion

Overall, Hedera’s core team has been working hard since discovering this exploit to determine its cause and impact within the DeFi ecosystem while issuing updates along the way. Until further details have been clarified by either Pangolin or HBAR Foundation’s official channels regarding this incident, users should remain vigilant when it comes dealing with any HBAR-related activities within their accounts or wallets

• The Reserve Bank of Australia (RBA) is researching different use cases for a central bank digital currency (CBDC).
• The project will be conducted in collaboration with the Digital Finance Cooperative Research Centre and involve multiple Australian banks.
• The project includes pilots to explore CBDC distribution, offline payments via CBDCs, cross border settlement and custody, GST automation, tokenized bills, livestock auctions, construction supply chain payments and superstream payments.

Australian Central Bank Launches Project to Explore CBDC Use Cases

The Reserve Bank of Australia (RBA) is looking to establish use cases for a central bank digital currency (CBDC) and determine the economic benefits it can have through a new research project over the coming months. The project will be conducted in collaboration with the Digital Finance Cooperative Research Centre (DFCRC) and involve multiple Australia-based banks. It will also involve the use of the Ethereum-based CBDC developed by Australia called the eAUD.

Use Case Selection

The regulator said that it received 140 total use case submissions and made the final selection based on a variety of factors — including their „potential to provide insights into the possible benefits of CBDCs“. The project intends to analyze 14 use cases for CBDCs. Banks will serve as „use case providers“ for the different use cases.

Pilots Explored

The project includes pilots that will explore CBDC distribution; offline payments via CBDCs; cross border settlement and custody; GST automation; tokenized bills; livestock auctions; construction supply chain payments; and superstream payments, among a few others.

Interoperability

The DFCRC said that consumers are increasingly participating in web3 commerce across multiple public blockchains and are forced to use private cryptocurrencies, which have myriad risks associated with them compared to a central bank-backed currency. One of the pilots in the project aims to develop a „trusted and reliable form of money“ on the blockchain. It will explore how a CBDC can be tokenized on multiple blockchains, as well as how to ensure that only authorized parties can hold and redeem it. Authorized parties would be entities that are properly verified by regulatory authorities such as financial institutions or government agencies.

Potential Benefits Of A CBDC

RBA Assistant Director Brad Jones said:“The pilot and broader research study that will be conducted in parallel will serve two ends – it will contribute to hands-on learning by industry, and it will add to policy makers‘ understanding of how a CBDC could potentially benefit the Australian financial system and economy.“ If successful, this research project could lead to tangible benefits from utilizing modern technologies such as blockchain for more efficient payment systems in Australia’s economy.

• The Canadian Securities Administration (CSA) has issued a notice requiring crypto exchanges that plan to operate nationwide to undergo a pre-registration process within 30 days.
• This includes segregating crypto assets held on behalf of Canadian clients and suspending offering margin, credit, or other forms of leverage trading to Canadian users.
• Exchanges will also have to stop offering stablecoins until written consent is secured from the CSA.

Canada Requires Crypto Exchanges to Pre-Register

The Canadian Securities Administration (CSA) released a notice on Feb.22 requiring crypto exchanges that plan to operate nationwide to undergo a pre-registration process within 30 days. CSA chair Stan Magidson explained the reasoning behind this decision by stating: „Recent insolvencies involving several crypto asset trading platforms highlight the tremendous risks associated with trading crypto assets, particularly when conducted on unregistered platforms based outside of Canada.“

Pre-Registration Requirements

The pre-registration process includes segregating crypto assets held on behalf of Canadian clients and suspending offering margin, credit, or other forms of leverage trading to Canadian users. Exchanges will also have to stop offering stablecoins until written consent is secured from the CSA.

Risk Warning

The CSA also reminded Canadians that crypto trading came with an „elevated“ level of risk, which may not be suitable for many investors.

Author

Zeynep Geylan Journalist at CryptoSlate Zeynep is an academic who turned to crypto in 2018. Originating in social sciences, she is especially interested in the social impact of blockchain and cryptocurrencies and strongly believes in their transmuting power.

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• A recent report by Chainalysis found that 24% of tokens launched in 2022 experienced a significant decline in price within the first week of launch.
• Many of these tokens showed characteristics similar to pump-and-dump (P&D) schemes, such as misleading statements and “honeypot” coding preventing buyers from selling their tokens.
• Data pointed to 445 unique wallets belonging to either individuals or groups as being responsible for 24% of the suspected P&D schemes.

Almost 25% of Tokens Launched in 2022 Resemble P&D Schemes

A recent report by Chainalysis revealed that almost a quarter of tokens launched in 2022 experienced a significant price decline within the first week of launch – indicating they may be part of pump-and-dump (P&D) schemes.

What are P&D Schemes?

P&D schemes involve heavily promoting an asset with often misleading statements, causing its price to increase significantly. After it reaches a certain level, its holders then sell their holdings at an overvalued price, causing its value to plummet drastically.

Data Points to Same Crowd Responsible for P&D Schemes

The data revealed that 445 unique wallets belonging to either individuals or groups were responsible for 24% of the suspected P&D schemes – with one individual launching 264 tokens throughout the year.

Suspected Honeypot Coding Found on Projects

The 25 largest projects with the biggest drops within the first week all contained „honeypot“ coding that prevented new buyers from selling their tokens – further pointing towards possible P&D activities.

Conclusion
< p > While market conditions could have been responsible for some token prices crashing soon after launch , many other projects showed clear signs resembling pump-and-dump activities . With insights from Chainalysis , this report highlights how important it is for investors to exercise caution when investing in cryptocurrencies .

• Charles Salvador ‚Bronson‘, the UK’s most violent prisoner, is releasing an NFT collection on February 12th.
• The collection includes 1,500 previously unseen pieces from Bronson’s 47 years in prison and solitary confinement.
• 25% of proceeds from the sale will go towards a foundation that supports art-making programs for at-risk youth.

UK’s Most Violent Prisoner Launches NFT Collection

Charles Salvador ‚Bronson‘, who was first imprisoned in 1974 for armed robbery and has since become known as the UK’s „most violent“ prisoner, is launching an NFT collection that features his artwork.

NFT Collection Details

The collection includes 1,500 previously unseen pieces from Charles‘ 47 years spent in prison and solitary confinement, alongside 8,500 3D pieces inspired by poetry, personal interviews, and writings. Certain rare NFT holders are being promised a meet and greet with the founders and an AMA with the artist, in addition to various other physical items. 25% of proceeds from the NFT sale will also go towards a foundation supporting art-making programs for at-risk youth. The physical exhibition at Henarch Galleries will only be accessible to those who hold an NFT. It opens on Feb 26th.

Prices & Release Date

Prices for Bronson’s works on paper range from £700-£30,000 per Sky News. As for the NFTs, it is being promoted on Twitter with a release date of Feb 12th; prices are still to be determined.

Previous Prisoner NFT Auctions

It isn’t the first time a sitting prisoner has released an NFT collection in order to draw attention to their plight; in Dec 2021 an auction of drawings made by Silk Road founder Ross Ulbricht raised over $6 million dollars to support families with incarcerated children.

Purpose of Exhibition

London based curator Oliver Hammond told Sky News that he hopes the exhibition will boost Bronson’s bid for parole: “If we can show that Charlie wants to get out of prison to work on his art I think there is definitely a good chance that he gets out on parole.“

• The Indonesian Trade Ministry is planning to set up a national cryptocurrency exchange before June 2023.
• Out of the 25 registered crypto exchanges in the country, five are currently being reviewed to be part of the bourse.
• The moratorium on the issuance of new crypto exchange licenses was recently lifted to clear regulations.

Indonesia is taking big strides towards the adoption of cryptocurrency as the country’s Trade Ministry is planning to set up a national crypto exchange before June 2023. The exchange, which is part of the regulatory reforms adopted by the Indonesian House of Representatives in December, is aimed at helping the country become a major player in the global cryptocurrency market.

The ministry is currently reviewing five out of the 25 registered crypto exchanges in the country that may be part of the national bourse. Trade minister Zulkifli Hasan said all five exchanges might be part of the ministry’s crypto exchange and that they should not rush the process as it could get messy if not done properly.

The Indonesian government had placed a moratorium on the issuance of new crypto exchange licenses, which had attracted criticism from those who believed the government was making things unnecessarily difficult. However, the moratorium was necessary to clear the regulations, Hasan said. The moratorium was recently lifted, and the government is now working towards setting up the exchange as part of its commitment to promote cryptocurrency in the country.

The exchange is expected to offer a safe and secure platform for trading digital assets and provide local investors with a wide range of investment opportunities. It is also expected to help the country become a hub for cryptocurrency trading and create new jobs in the process.

The establishment of the national crypto exchange will put Indonesia at the forefront of the global cryptocurrency revolution, and it could potentially bring in a new wave of economic growth and development in the country.

• A&T Capital launched the ‚Web3 Trends 2023‘ report, which delves into the six trends that will shape the future of the Web3 era.
• These trends include a revolutionary shift in internet infrastructure, ZK layer2, parallel computing, modular design, application-specific blockchain, trends in exchanges, and the growing importance of the MEV market.
• Web3.0 market investments have surpassed $50 billion, and the NFT market has grown to over $20 billion with more than 3 million holders.

A&T Capital has released a report providing insight into the six trends that will shape the future of the Web3 era. The ‚Web3 Trends 2023‘ report explores the revolutionary shift in internet infrastructure, ZK layer2, parallel computing, modular design, application-specific blockchain, trends in exchanges, and the growing importance of the MEV market.

The primary market investment AUM for Web3.0 has surpassed $50 billion, indicating significant potential for value capture across all layers of applications, middleware, and infrastructure. Additionally, the NFT market has grown to over $20 billion with more than 3 million holders.

The report highlights that ZK Layer 2 solutions, such as Scroll, StarkNet, and zkSync, will enable scalability for Ethereum in the long-term. ZKP technology has endless possibilities beyond just scaling, including connecting various blockchains and reducing barriers for developers. These solutions will be widely available by 2023 and will coexist to meet diverse needs.

In order to facilitate the development of Web3.0 technology, the report recommends using parallel computing, modular design, and application-specific blockchains. These methods can be used to create an environment that is both secure and efficient for developers.

The report also discusses the importance of transparency and decentralization for exchanges. By providing a secure and reliable platform for users, transparency and decentralization can increase user trust and reduce the risk of fraud.

Finally, the report looks at the growing importance of the MEV market. MEV is a market where users can buy and sell digital assets to maximize their profits. The report notes that the MEV market is rapidly growing, and users should be aware of the various risks associated with this market.

Overall, the ‚Web3 Trends 2023‘ report provides important insight into the trends that will shape the future of the Web3 era. As the technology continues to evolve, these trends will play an increasingly important role in the development of Web3.0 technology.

• On-chain metrics suggest that Bitcoin may have reached its market bottom.
• The Supply in Profit and Supply in Loss lines have converged and diverged, indicating a potential macro upturn in price.
• The Market Value to Realized Value ratio is also split by long-term and short-term holders, and is currently indicating that the Bitcoin price is trading below “fair value”.

Recent on-chain research has suggested that Bitcoin may have reached its market bottom. Analysis of various metrics, such as Supply in Profit (SP) and Supply in Loss (SL) lines and the Market Value to Realized Value (MVRV) ratio, shows that the Bitcoin market is likely at the beginning of an upturn.

The SP and SL lines are indicators that show the circulating supply that is either in profit or loss, based on the price of the token being higher or lower than the current price at the time of last moving. Market cycle bottoms coincide with the SP and SL lines converging, which happened most recently around Q4 2022. Subsequently, the lines diverging corresponds with a potential reversal in price. This pattern has held true in the past, and currently, the SP band has moved up sharply to diverge from the SL band, indicating that an upturn in price could be in the works.

Another on-chain indicator is the MVRV ratio. This ratio measures the difference between the market cap (or market value) and realized cap (or the value stored). By collating this information, MVRV indicates when the Bitcoin price is trading above or below “fair value”. It is further split by long-term and short-term holders, and currently, the MVRV is indicating that the Bitcoin price is trading below “fair value”.

Overall, various on-chain metrics continue to suggest that the Bitcoin market may have reached its bottom. While it remains to be seen if the current cycle plays out the same as past cycles, the analysis of these indicators provides some insight into the current market and could be an indication of a potential macro upturn in price.