Cryptocurrency markets remained surprisingly stable today as the Japanese yen hit a 34-year low against the US dollar. This unexpected situation caused market observers to consider potential ripple effects.
The Japanese yen (JPY) fell another 1.3% on the day, marking a significant shift for the major currency and falling to its weakest level against the US dollar since 1990. This comes after the Bank of Japan (BOJ) kept interest rates near zero and expressed little concern about the depreciating currency.
Continued strong economic growth and high inflation in the United States dampen hopes for a possible easing of monetary policy this year.
"Movements of this magnitude and speed in currencies are not normal, so I would expect some intervention or coordination fairly soon if it continues over the next few weeks," said Quinn Thompson, founder of hedge fund Lekker Capital.
The devaluation of the Yen has not yet affected the cryptocurrency markets. However, this could change if the BOJ intervenes to support the currency, according to Noelle Acheson, analyst and author of Crypto Is Macro Now reports. Such an intervention would involve the BOJ selling US dollar assets (US Treasuries) to buy yen, and a weaker dollar could theoretically boost crypto prices.
Thompson added that another form of intervention could be if US policymakers decide to inject liquidity into the markets, which could support risky assets such as cryptocurrencies.
Looking ahead, Acheson predicted that "the currency turmoil will not end with the yen." The recent rise in US yields following reports of persistent inflation will put pressure on other currencies and potentially encourage other central banks to take action.
PLEASE READ CAREFULLY FOR A GIFT OF 10 DOLLARS.
My friends, you know that we, the publishers, are doing everything we can for you here. We are informing you about the services and facilities offered to us by our authorities. I have never stopped supporting both the Cryptocurrency market and you as much as I could, and on the contrary, I am trying to provide more support.
THIS 10 DOLLAR GIFT CAMPAIGN IS A CAMPAIGN MADE SPECIALLY FOR ME BY BINACE. YOU CAN GET CONFIRMATION ABOUT THIS BY CONTACTING LIVE HELP. THIS IS A 10 DOLLAR CAMPAIGN MADE TO YOU THROUGH ME.
Now I will tell you how to receive your gift. First of all, Binance users who have registered with someone's reference and actively use futures transactions will unfortunately not be able to benefit from this promotion.
So who will benefit?
Our friends who have not activated the futures section yet, while activating your FUTURES trading section, you will earn 10 dollars when you open it by entering my reference code 88623008.
I EXPLAIN IN DETAIL.
My brothers and sisters who have become a Binance member without reference, please listen carefully;
When you do what I say, you will receive 10 USDT.
Enter the Futures Section from your application,
On the next screen, open your account by entering the code 88623008 in the REFERENCE CODE section,
My brothers and sisters who want to complete this transaction and receive the 10 USDT reward by MAY 1 can do so. After activating your account, all you have to do is open your first futures transaction.
The first 1,000 brothers to open a 200 USDT transaction by MAY 1 will receive a 10 USDT reward.
So let me give you a tactic like this: Even if you open and close 20x with a $5 transaction, you will be entitled to the reward.
However, even if you do this after May 1, your reward will not come. So get it done by May 1st. In fact, right now I say you can fix it in 5 seconds.
Very simple. Go to Futures, enter my reference code 88623008 and activate the account. Afterwards, just open a total of 200 USDT transactions and get 10 USDT reward.
WHEN WILL THE AWARD COME?
Your 10 dollar reward will arrive in the REWARDS section of your Binance application within 30 days, starting from May 1st. By activating it from there, you can use your reward of 10 dollars, or more than 300 liras, in futures transactions.
You can help your friends in need by sharing this post.
BY THE WAY, MY BROTHERS, PLEASE DON'T MISS YOUR LIKES. EVERY SHARE IS FOR YOU. SO DON'T WITHHOLD YOUR SUPPORT. IF YOU HAVE NOT FOLLOWED YET, DON'T FORGET TO FOLLOW. KIND REGARDS.