Although the decision from the Federal Reserve to reduce the liquidity in the market could impact cryptocurrency, Bitcoin is carving its own niche. And it will be followed by Ethereum and DeFi that are gearing into shape to bring out their own narratives as the world heads towards 2022. These narratives could definitely supersede the latest episode of central bank tightening on financial liquidity.
This news comes with the United States Federal Reserve wrapping up its final meeting on policies in 2021 by voting to keep the rates of interest at record lows. By doing so, the Federal Reserve does set the stage for a series of hikes in the interest rate that will begin in spring- which will then be accompanied by a more accelerated taper of its bond-purchasing program.
Best Christmas Gift This Year Would Be Bitcoin
If one is overly concerned about the central bank policy as well as inflation, the best gift that could be provided this holiday season would be Bitcoin. Block, which was formerly referred to as Square, recently stated that the users of Cash App would be able to provide their friends and families with both crypto and stocks for this Christmas.
Bitcoin’s cryptocurrency exchange partner, Binance, was also in the news recently after the company stated that it had entered into a collaboration with PT Telkom Indonesia, a state-owned telecom operator from Indonesia. The nature of the partnership seems to be quite intriguing, as, through MD Ventures, the capital arm of this industry, Binance will be able to support the development of new currency exchange.
Apart from Bitcoin, other crypto-fiat payments provider Ramp also announced that it had accrued close to $52.7 million in financing which would then be offered to expand its product offerings while promoting the adoption of decentralized applications. Ramp, as of now, provides service to around 400 companies, which include Axie Infinity, Mozilla, Dapper Labs, and others.