POKKET Weekly News: The Week In Crypto (1–7 June)

Altcoin season continues. Aside from the reach out to $10,000 levels on Tuesday, Bitcoin volatility remained flat throughout the week. Volumes remain low even as traditional markets go through what seems to be a hyper-inflation like move. S&P500 is only 6% away from pre-COVID levels.

The story is different in the altcoin front however. Many altcoins in POKKET universe now returns triple digit interest rates, due to their higher volatility. We now have 9 tokens with 3 digit interest rates and 25 tokens with 2 digit and only 1 token with a single digit interest rates.

We’ve added 2 new tokens this week, Crypto.com Coin (CRO) and Holo Token (HOT). There is one more being planned next week. Stay tuned!

While you’re at it, check out our interest rates including our top 10 earning tokens below.

Here are this week’s highlights

Fed Paper: Central Bank Digital Currencies Could Replace Commercial Banks — But at a Cost

The 32-page research paper — titled “Central Bank Digital Currency: Central Banking for All?” — investigated the implications of an account-based central bank digital currency (CBDC), focusing on its potential competition with the traditional maturity transformation role of commercial banks…

Japan’s Biggest Banks Are Talking About Building a Digital Payments System

Three of Japan’s largest banks are among major players joining a study group looking at developing a digital payment system that may address concerns about cryptocurrencies…

Report Shows Crypto Derivatives Volumes Soared 32% to a Record $602 Billion in May
The figures show increasing investor interest in trading derivatives — contracts signed by at least two people to buy or sell a digital asset at an agreed price in the future. For the review month, derivatives market share rose to 32% compared to 27% in April…

India to Significantly Increase Crypto Market Share This Year: Report
India’s cryptocurrency market is set to gain significant market share this year, according to an industry report. The regulatory environment, the instability of the rupee, and remittances are key drivers that will send the Indian crypto industry soaring…

‘Ethereum-Based’ LIBOR Alternative Gets a Nod From Fed Chairman

The US Federal Reserve (Fed) Chairman Jerome Powell has seemingly expressed support for an “Ethereum-based” replacement of LIBOR, the average interest rate at which major global banks borrow from one another, stressing that it may not be suitable for everyone…

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