Governments worldwide are exploring the possibilities of digital currencies, which are well known as CBDCs, and this has created a massive market for innovative blockchain solutions like TMS Network (TMSN). Also, the move has made the market rally up for established tokens like Bitcoin (BTC) and Tether (USDT).
On this week of Valentine, Bitcoin (BTC) and the cryptocurrency market generally experienced an increase in trading despite the release of the latest Consumer Price Index (CPI) data for February, indicating higher inflation numbers than January 2023.
Bitcoin (BTC) showed some love to holders and witnessed a surge of over 10% to $24,438. Apart from Bitcoin (BTC), many cryptocurrencies also enjoyed an upward trend in the past 24 hours.
Despite Bitcoin (BTC) being bearish for most of last year, the Bitcoin (BTC) price rally this week is related to news about several Central Banks of various countries proposing the adoption of Central Blockchain Digital Currencies(CBDCs).
The United Arab Emirates, The United Kingdom have been involved heavily, while the Indian Central Bank announced 50,000 users and about 5000 merchants now use the country’s CBDCs. This creates an interesting development for the adoption of Bitcoin (BTC), which makes up over 45% of the Cryptocurrencies market.
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Tether (USDT) set to be the biggest winner of CBDCs push.
According to Tether’s (USDT) Transparency Dashboard, the circulating supply of the Tether (USDT) stablecoin, which is the dominant USD-pegged stablecoin, has increased to a three-month high and is estimated at $69.18 billion as of now.
Paolo Ardoino, the CTO of Tether (USDT) and Bitfinex, tweeted about this mint and expressed his excitement. This development comes after Tether (USDT) increased the minting of Tether (USDT) following a scandal with its second-largest competitor, Binance USD.
Despite several countries pushing for central bank digital currencies (CBDCs), Tether’s (USDT) CTO believes that private stablecoins like Tether (USDT) will continue to be relevant and will always have a place in the market even in the age of government-issued digital currencies.
Tether (USDT) remained pegged to the value of the dollar, and investors made a profit of $700 million in the Q4 of last year despite the storms of crypto winter.
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The world is moving towards a more digital economy, and TMS Network (TMSN) is poised to lead the charge with its cutting-edge technology and unparalleled security features. Coincidentally, several countries globally are looking into the possibility of creating and distributing their native CBDCs. With this move, other digital currencies like TMS Network (TMSN), Bitcoin (BTC), and Tether (USDT) will be more popular and widely accepted.
TMS Network (TMSN) is projected to reap the most benefit from this push as a relatively new token with more advanced technology and multiple use cases. TMS Network (TMSN) is a decentralized network that leverages blockchain technology to provide an effective trading platform for crypto, CFDs, stocks, and Forex traders.
Apart from that, the TMS Network (TMSN) platform provides a marketplace for NFTs trading and investing. It aims to solve issues ravaging other trading platforms, like high trading fees, slow transaction time, non-effective scalability, etc.
Investors are bullish on TMS Network (TMSN), and the company has already raised $2 million in an incubator fund following a private seed sale. The public presale is also ongoing, and experts have predicted a 5000% increase in the token price before the end of the last presale stages.
Summing Up
Nothing is as sweet as being one of the earliest investors in a promising project. Since CBDCs are gaining traction, pushing the value of Bitcoin(BTC) and Tether (USDT) higher, TMS Network (TMSN) is also on the right path to becoming one of the biggest blockchain networks in the crypto world.
Find Out More About TMS Network (TMSN) Presale!!!
Whitepaper: https://tms-net.netlify.app/whitepaper.pdf
Presale: https://presale.tmsnetwork.io
Website: https://tmsnetwork.io
Telegram: https://t.me/tmsnetwork
Twitter: https://twitter.com/tmsnetworkio