Binance has made a significant move by boosting Bitcoin and Ether trading in Argentina, Brazil, and South Africa with a promotional fee. This move has had remarkable results on these currencies, including 'ZAR Coin'. Notable is the South African Rand which slipped against the stronger dollar as the stocks edged lower, reflecting the changes in the cryptocurrency landscape.
The exciting topic to review is the
relationship between cryptocurrency adoption and the stability of ZAR. As it stands, the Bitcoin price has experienced an all-time high in Japan and South Africa. One amazing revelation is the BRICS bank issuing its first ZAR bonds as they look to use local currencies.
Bitcoin hit a record high in African currencies, though nearing its all-time highs. With regulations being a constant consideration,
South Africa has begun exploring cryptocurrency regulations. This move causes hope and concern as Bitcoin breaches the R1m mark.
Worth mentioning is the VALR's launch of perpetual futures that pair Bitcoin against the South African Rand. Also, AltCoinTrader, a South African Crypto Exchange, received Category 1 and 2 licenses. Interestingly though, the South African Rand slipped after the recent elections. It also fell to an all-time low in 2023 against the US dollar.
An attention-grabbing point is the first Rand Stablecoin, ZARP, and its launch on the OVEX Exchange in South Africa. On the contrary, Binance delisted the South African Rand Trading Pairs after it failed to meet the 'high level standard'.
Noticable is the growth of blockchain technology, boosting digital assets into mainstream, not forgetting Bitcoin's correlation with emerging markets like USD/ARS, USD/ZAR.
ZAR Coin News Analytics from Tue, 29 Apr 2014 07:00:00 GMT to Wed, 03 Jul 2024 15:06:01 GMT -
Rating 4
- Innovation 5
- Information 6
- Rumor 3
