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Zimbabwe plans on introducing a new digital currency in hopes of aiding their economy. Meanwhile, Cardano has made profits in NFT sales recently. The brand new SignUpToken.com is moving closer to its launch, now having reached the 5000 mark, but not before they give users a chance to be a part of their Millionaire's Club. Stick around till the end to know more!
The Reserve Bank of Zimbabwe is planning to introduce a new digital currency backed by gold to stabilize the local currency and prevent further depreciation against the US dollar. The new currency will function as legal tender and will allow small amounts of Zimbabwean dollars to be exchanged for the digital gold token to protect against currency volatility. The government previously issued gold coins to stabilize the local currency. Governor John Mangudya said the objective is to ensure no one is left behind.
The current exchange rate volatility is due to market anticipation of higher foreign currency supply during the tobacco auction season in March. The introduction of a gold-backed digital currency is seen as a potential solution to address these challenges and provide a more stable form of currency for Zimbabweans to store value. Cryptocurrency usage has also increased in several African countries due to economic issues. The Middle East and North Africa are the fastest-growing regions for crypto adoption, primarily for cross-border remittances.
Creating a digital currency supported by gold is being considered a possible way to solve economic problems in Zimbabwe. The digital currency would use the reliability of gold as a backing asset to offer a more dependable means of holding value and guarding against currency instability for Zimbabweans.
Sales of non-fungible tokens (NFTs) on major blockchain platforms have declined, but Cardano's sales volume has increased by 22.05%. In contrast, Ethereum, Solana, and Polygon have experienced drops in sales of 20.04%, 56.89%, and 52.93%, respectively. Cardano's NFT market has demonstrated growth in the number of transactions and buyers, likely due to the popularity of collections such as The Ape Society and Clay Nation by Clay Mates. Despite the overall decline in the NFT space, this growth highlights Cardano's potential and appeal to creators and collectors.
Signuptoken.com is an upcoming decentralized exchange and DeFi platform. Yet to launch, it has recently welcomed 5000 members in its Millionaire's Club-and it only keeps growing.
One of the key features of Signuptoken.com is its no-presale mantra. The platform was created without an initial pre-sale, which means that all tokens are distributed fairly and equitably and there is no payment needed to be a part of their ecosystem. This approach is in contrast to many other cryptocurrency projects that use pre-sales to raise funds and give early investors an advantage.
Another key feature of Signuptoken.com is its referral system, which allows users to earn rewards by inviting their friends to join the platform. This incentivizes users to promote the platform and helps to grow its user base.
The introduction of a new cryptocurrency provides hopes to the watchers of the Zimbabwean market and the economy of the country in general. Meanwhile, Cardano has topped the NFT Sales, overtaking major coins in the market, though it remains to see if these numbers will sustain the market's volatile nature over time. On the other hand, promising projects like SignUpToken.com continue to entice its community with user-centric features and seek to provide a platform that is transparent, efficient and affordable. This is a coin that is here to stay.
Website: https://www.signuptoken.com
Twitter: https://twitter.com/_SignUpToken
Telegram: https://t.me/SignUpToken
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