Diar, a crypto analytics firm, reported at the time that Ethereum volumes on decentralized applications (DApps) also registered a new high in April with 776,000 ETH transacted. Industry newsletter Diar also noted that the on-chain transactions for bitcoin (BTC), reached new highs in April. This was not the case since 2017.
Peter Brandt, a veteran trader and author, predicted that Bitcoin (BTC), a new market forecast, will continue to grow while altcoins such as Ethereum will not.
A number of countries are also reportedly studying the possible impact of CBDC on a nation’s financial stability and its banking sector. They also plan to investigate the possibility of monetary policy transmission.
Further, the report notes that different motivations exist for offering CBDC. Emerging economies, for example, are trying to lower banking costs and offer banking services to those who are not banked with CBDC’s assistance. As cash’s frequency decreases, developed countries are reportedly looking for an alternative.
A similarity was also found in the report. Most central banks plan to issue an anonymous CBDC. This is mainly because institutions want the transaction to be traceable by authorities. Some are also considering dividing tokens into smaller groups that can be used for large transactions and holdings. Only these tokens will be traceable.
