logo
Promotions
bonus

CBDCs Move Forward

july-13-daily-update

Main Takeaway: US CPI Numbers Come Out

US monthly inflation numbers will be released at 8:30 AM Eastern time on July 13th – and signals have been coming out that the figure will be elevated. This is another reason why the Biden administration has been considering removing the US-China trade war tariffs along with Biden’s visit to Saudi Arabia.

Regardless, the economic situation is bleak, especially as the Dollar strengthens against the Euro and Asian currencies. The crypto markets are down 2% over the day and have already priced in a 75 bps rate hike increase. So if that comes there will likely be some downward movement, potentially retesting last month’s lows.

Key Stories: CBDCs & Digital Assets Policy

The US Treasury Office Of Financial Research released a report on Tuesday supporting that a CBDC will decrease financial risk and be positive for commercial bank stability. Secondly, the Treasury also called for public comment on its digital asset policy – as was called for in Biden’s executive order on US digital assets earlier this year.

So with these two announcements, the Treasury has been busy at work outlining its next moves with regard to pushing forward a CBDC in the United States. However, it’s still early in the game and things move slowly in the US. So if an official CBDC were to be released, the earliest it would come out would be 2-3 years later.

Investor Insight: Move To Earn On StepN

StepN, a popular Move To Earn game that reached new heights in 2022 just announced that it has made $122.5 million dollars in profits from platform fees during Q2 2022. This is very important during the bear market as people question where ‘yield’ and ‘interest’ are generated from. So StepN showing its cash flow and money generated is important for prospective users to better understand its finances and know the money is not merely made through inviting new users and then buying NFTs.

The platform’s governance token GMT has traded well over the recent days, but it’s still down from recent highs of over $1. So gaining the $1 mark will be a very bullish sign.

GMT Daily Chart

Today’s Top Gainers

The top five performing coins on Phemex are the Voyager token (VGX/USDT), StepWatch (SWP/USDT), Ellipsis Finance (EPX/USDT), VulcanVerse (PYR/USDT), and Gamium (GMM/USDT).


For any inquiries contact us at support@phemex.com
Follow our official Twitter | Join our community on Telegram
Trade crypto on the go: Download for iOS | Download for Android
Phemex | Break Through, Break Free
Sign Up and Claim 4800 USDT
Disclaimer
This content provided on this page is for informational purposes only and does not constitute investment advice, without representation or warranty of any kind. It should not be construed as financial, legal or other professional advice, nor is it intended to recommend the purchase of any specific product or service. You should seek your own advice from appropriate professional advisors. Products mentioned in this article may not be available in your region. Digital asset prices can be volatile. The value of your investment may go down or up and you may not get back the amount invested. For further information, please refer to our Terms of Use and Risk Disclosure

Related articles

October 2025 Crypto Dip: Temporary Correction or the Start of a Bear Market?

October 2025 Crypto Dip: Temporary Correction or the Start of a Bear Market?

Market Insights
2025-10-11
15-20m
2025 Crypto Crash: What Happened and How to Navigate Next

2025 Crypto Crash: What Happened and How to Navigate Next

Market Insights
2025-10-11
5-10m
ChainOpera AI (COAI) Price Prediction 2025: Will COAI Soar or Stall?

ChainOpera AI (COAI) Price Prediction 2025: Will COAI Soar or Stall?

Market Insights
2025-10-10
15-20m
ZEC vs XMR: A Deep Dive into the Titans of Crypto Privacy

ZEC vs XMR: A Deep Dive into the Titans of Crypto Privacy

Market Insights
2025-10-10
15-20m
Supercharge Your Futures Trading with Phemex Multi-Assets Mode

Supercharge Your Futures Trading with Phemex Multi-Assets Mode

Phemex Products
2025-10-09
3-5m
ASTER Price Prediction 2025: DeFi’s Rising Potential?

ASTER Price Prediction 2025: DeFi’s Rising Potential?

Market Insights
2025-09-26
10-15m