Despite sanctions and scrutiny, the ruble-backed A7A5 stablecoin surged 250% in a day to reach a $500 million market cap, overtaking all non-US dollar rivals. A7A5, a Russian ruble-backed stablecoin issued in Kyrgyzstan, has become the world’s biggest non-US dollar stablecoin despite facing multiple sanctions. A7A5’s market capitalization stood at almost $500 million on Monday, about 43% of the total $1.2 billion market cap of non-US dollar stablecoins, according to data from CoinMarketCap and DefiLlama. “We have already proven that a national digital currency can be not only an alternative to the dollar but also a driver of global change,” A7A5 wrote on its Telegram channel on Saturday. Read more
South Korean retail investors are becoming a significant driver of Ether’s growing value, alongside global institutional investors and corporate treasuries, Mow said. South Korean retail investor capital is fueling Ether’s price momentum and the rise of corporate Ether treasury firms, according to industry insiders, as the world’s second-largest cryptocurrency trades just 7% below its all-time high. The “only thing” keeping the Ether (ETH) price and Ether treasury companies at their current levels is about $6 billion worth of Korean retail capital, according to Samson Mow, CEO of Bitcoin technology company Jan3. “ETH influencers have been flying to South Korea just to market to retail. These investors have zero idea about the ETHBTC chart and think they’re buying the next Strategy play,” said Mow in a Monday X post, warning that this “won’t end well.” Read more
Africa stands at a crossroads: harness cryptocurrency’s $4-trillion potential for sovereignty and growth or risk financial instability and exclusion. Opinion by: Ure Utah, technical advisor to Nigeria’s minister of innovation With the value of digital currencies surging close to $4 trillion, the world is rushing to cash in. While Elon Musk’s Dogecoin (DOGE) and the US president’s Official Trump (TRUMP) coin grab headlines, Africa sits at the frontline of this worldwide financial upheaval. This is a crucial point. Unless African leaders act to regulate or harness crypto, what happens next will determine whether the continent’s 1.55 billion inhabitants build greater sovereignty over their future or usher in a new era of financial instability. Read more
Strategy’s Bitcoin bet swelled by $3.9 billion in unrealized gains last quarter, even as Michael Saylor broke tradition by skipping a fresh BTC purchase. Strategy Inc. co-founder and executive chairman Michael Saylor said Monday that the company had a massive $3.9 billion fair value gain on its Bitcoin holdings during the third quarter of the year. On Saturday, Bitcoin (BTC) reached a new all-time high of $125,000 as exchange balances plunged to six-year lows. Saylor’s Strategy, a company known for adding to its Bitcoin stockpile during new price highs, said that it is skipping its BTC purchase this week. On X, Saylor said that instead of a new Bitcoin buy, the company is highlighting its returns. “No new orange dots this week — just a $9 billion reminder of why we HODL,” Saylor said, sharing a chart where orange dots represented the company’s Bitcoin buys. Read more
Standard Chartered forecasts more than $1 trillion may exit emerging market banks and flow into stablecoins in the next three years as crypto adoption grows. Multinational bank Standard Chartered predicted that more than $1 trillion may exit emerging market banks and flow into stablecoins by 2028 as demand for US dollar-pegged crypto assets accelerates. In a Monday report, Standard Chartered’s Global Research department said it expects global stablecoin adoption to accelerate as payment networks and other core banking activities shift to the non-bank sector. As stablecoins gain traction in emerging markets (EM), Standard Chartered noted that users might utilize stablecoins to access what’s essentially a US dollar-based account. “Stablecoin ownership has been more prevalent in EM than DM, suggesting that such diversification is also more likely in EM,” Standard Chartered said. Read more