The Zimbabwean government has initiated a comprehensive study to map and understand the crypto landscape.
A study will assess the risks associated with...
The relationship between crypto and inflation is undeniable. Inflation can initially cause a decline in the value of cryptocurrencies as investors anticipate higher interest rates and a subsequent drop in demand for riskier assets. However, over time, the ensuing banking sector challenges and other negative consequences of high inflation could prompt investors to seek safer havens like crypto.
The price increase is due to the selling exhaustion of sellers FTX’s collapse, an improving macroeconomic outlook for risk assets, and the impending arrival...
Given these actions, one cannot rule out that global authorities are preparing to confront the industry through legal and regulatory means. And if some of these companies lose their battles with the securities regulator, this could negatively affect cryptocurrency prices.
As such, no one should be cracking open the Champagne just yet. Yes, prices have recovered to some extent in the past few weeks, but with the global economy still mostly slowing down its decline rather than showing real strength, it would be just too premature to conclude that the 2022 crypto bear market has ended.
So far, only a small portion of the population represents crypto adoption in Africa. If this trend continues, Africa is poised to be the next frontier of cryptocurrency adoption. Comparing the number of cryptocurrency owners against the country’s entire population across leading markets on the continent reveals that only 8.52 per cent of Kenya’s population is actively involved in crypto trading. South Africa, Nigeria, and Ghana follow closely at 7.11, 6.31, and 3.01 per cent, respectively. Consequently, many people remain curious to know how the crypto industry has transformed the payment landscape in Africa and the factors that have influenced the growth of crypto trading across Africa, even ahead of leading global markets.
During market turmoil, experts recommend the application of caution when it comes to crypto investing. Utilizing crypto as the only method for protecting assets from inflation would be imprudent. With time, blockchain technologies will improve, resulting in increased stability and the use of crypto as a hedge against inflation. The equipment is already in place.
One of cryptocurrency’s key charms is its invulnerability to inflation, which has been advertised as a hedge against inflation in central bank currencies.
