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Best Cryptocurrency to Buy Today: Top Picks for September 2024

Best Cryptocurrency to Buy Today: September 2024 Rankings

Discover the best cryptocurrencies to buy in September 2024. Stay updated with the latest trends and market shifts in the ever-evolving world of crypto.

Gli equilibri nel mondo delle criptovalute cambiano in maniera rapida e spesso imprevedibile. Per questo motivo è importante, soprattutto se stai scegliendo quale criptovaluta comprare oggi, conoscere gli ultimi sviluppi del mercato e le novità introdotte dai progetti “sulla cresta dell’onda”. Ogni mese, nuove tecnologie e cambiamenti regolamentari possono influenzare il valore, le gerarchie e la classifica delle crypto per capitalizzazione di mercato. 

Grazie a questa analisi mensile, puoi reperire informazioni su quale criptovaluta comprare attraverso una una classifica delle cinque più promettenti, da noi stilata basandoci sui dati più recenti e sugli eventi significativi che stanno plasmando il settore. 

As the cryptocurrency market evolves rapidly, staying informed about the latest developments is crucial, especially considering which cryptocurrency is the best to buy today. September 2024 brings new opportunities and challenges, making it essential to review the most promising cryptos to add to your portfolio. In this article, we’ll provide a monthly analysis that ranks the top five cryptocurrencies to buy based on recent data and significant events shaping the market.

1. Aave (AAVE)

Aave (AAVE) stands out as a leading contender when considering which cryptocurrency to buy today. As the foremost decentralised application for borrowing and lending crypto, Aave has maintained its dominance in the decentralised finance (DeFi) sector despite the rise of numerous competitors.

In late August, Aave set a new record for weekly active borrowers, underscoring its popularity among users. Financially, the project also impressed, with Q2 2024 earnings reaching approximately $20 million, nearly double that of the previous quarter. The Total Value Locked (TVL) on Aave’s platform, a critical metric in DeFi, recently hit $12 billion.

AAVE’s price has responded positively to increased activity on its platform, experiencing nine consecutive daily gains and a peak surge of +38%. Currently, AAVE is hovering around the $130 resistance level. If it breaks through this, the following targets could be $150 and eventually $240, fueled by the ongoing growth of its user base.

  • 30-day price increase: +40% (from $100 on 07/26/2024 to $140 today)
  • 1-year price increase: +87% (from $100 on 08/26/2023 to $187 today)

2. Sui (SUI)

Sui (SUI) is another intriguing option for those wondering which cryptocurrency to buy today. Created by former Meta developers, SUI has emerged as one of the top performers in the market over the past month, driven in part by the introduction of the Grayscale Sui Trust. This new financial product has bolstered SUI’s standing, potentially setting it up for continued success in September.

SUI experienced a massive +130% surge following the market crash on August 5th. Even more recently, SUI has shown significant growth, with a +100% increase and an additional +16% gain in the past week.

  • 30-day price increase: +26% (from $100 on 07/26/2024 to $126 today)
  • 1-year price increase: +53% (from $100 on 08/26/2023 to $153 today)

Buy SUI

3. Fantom (FTM)

Fantom (FTM) has gained attention recently, thanks to the announcement that Andre Cronje, a leading figure in DeFi, will return as Sonic Labs’ Chief Technology Officer (CTO). Cronje’s involvement in developing Sonic, particularly its native bridge technology, “Sonic Gateway,” could significantly enhance Fantom’s ecosystem.

Sonic’s L1 network, which uses asynchronous Byzantine Fault Tolerance (aBFT) consensus, promises near-instant transaction finality with a single confirmation. This development is likely to boost investor confidence in Fantom’s future growth.

  • 30-day price increase: +8% (from $100 on 07/26/2024 to $108 today)
  • 1-year price increase: +95% (from $100 on 08/26/2023 to $195 today)

4. Bittensor (TAO)

Bittensor (TAO) is closing out an exciting August, having benefited from Grayscale’s involvement. TAO is featured in two of Grayscale’s financial products, including a Trust dedicated entirely to this promising cryptocurrency. TAO has seen a dramatic rise from $200 to nearly $800 earlier in the year, although it later corrected back to its starting point.

Following the August 5th crash, TAO has regained momentum, doubling its value in three weeks. If it can surpass the $360 resistance level, TAO could see significant gains in September.

  1. 30-day price increase: +2% (from $100 on 07/26/2024 to $102 today)
  2. 1-year price increase: +296% (from $100 on 08/26/2023 to $296 today)

5. Ethereum (ETH)

Finally, Ethereum (ETH) rounds out our list of the best cryptocurrencies to buy in September 2024. Despite facing challenges and failing to break the $2,800 resistance level, Ethereum remains a strong contender due to its robust fundamentals.

Ethereum’s blockchain continues to operate smoothly, demonstrating unmatched security and efficiency. The network recently set a new record with over 34 million ETH staked, and the team has rolled out significant upgrades such as The Merge, Shanghai, Dencun, and Proto-Danksharding, ensuring Ethereum remains at the forefront of blockchain innovation.

  • 30-day price decrease: -14% (from $100 on 07/26/2024 to $86 today)
  • 1-year price increase: +44% (from $100 on 08/26/2023 to $144 today)

Conclusion

Choosing the best cryptocurrency to buy today requires a keen understanding of market dynamics and emerging trends. Aave, Sui, Fantom, Bittensor, and Ethereum each offer unique opportunities this September. However, remember that the crypto market is highly volatile, and thorough research is essential before making investment decisions.

Disclaimer

This information is provided solely for informational and educational purposes and does not constitute a recommendation to buy or sell any specific digital asset or investment strategy. Young Platform S.p.a. makes no warranties regarding the accuracy, suitability, or validity of the information provided or any particular asset. Prices are illustrative and may vary. The data may reflect assets traded on the Young Platform S.p.a. platform and other selected cryptocurrency exchange platforms. Please note that cryptocurrencies are highly volatile, and purchasing them involves a risk of loss.

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What is the Poorest Country in the World? Ranking of the Poorest Countries in 2024

The Poorest Countries in the World: Updated Ranking

Discover the ranking of the poorest countries in the world for 2024 based on GDP per capita. Explore the challenges and conditions these nations face.

One of the most common metrics used to examine the poorest countries in the world is GDP (Gross Domestic Product) per capita. This figure represents the average economic output per person in a given country and is a crucial indicator of financial health. 

A low GDP per capita often correlates with challenging living conditions characterised by fragile economies, high unemployment rates, and inadequate infrastructure. Moreover, these nations frequently grapple with internal conflicts and political instability, further hindering their development.

However, GDP per capita alone does not fully capture the economic well-being of a country’s citizens, as it overlooks disparities in the cost of living. GDP,  combined with issues such as low education levels, endemic diseases, and limited access to healthcare, these factors create environments where economic development is nearly impossible, leading to harsh living conditions. Below, we delve into the poorest countries in the world as of 2024 and the primary issues they face.

You might be interested in The Richest Countries in the World

The poorest countries in the world: 2024 ranking

Per stimare quali sono i paesi più poveri del mondo di solito ci si basa sui dati forniti dal Fondo Monetario Internazionale (FMI).

Nella maggior parte degli stati che trovi in questo articolo è molto difficile accedere ai servizi finanziari, anche a quelli standard come l’apertura di un conto bancario. Per questo motivo sono sempre di più i cittadini che si affidano a Bitcoin o ad altre criptovalute. Questa tecnologia coincide con un modo nuovo, e per molti l’unico, di gestire il proprio denaro e salutare per sempre lo status di unbanked. Se ti interessa questo tema e vuoi saperne di più puoi scaricare la nostra app.

The following ranking of the poorest countries is based on data from the International Monetary Fund (IMF). In many of these countries, access to essential financial services is minimal, with many citizens turning to cryptocurrencies like Bitcoin as a new way to manage their money, often as their only viable option.

This technology represents a new, and for many, the only way to manage their money and say goodbye to being unbanked. Suppose you’re interested in the opportunities cryptocurrencies offer as cross-border funds independent of governments or banks. In that case, you can buy, sell, and send cryptocurrencies on Young Platform, a leading European platform.

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1. Sudan del Sud

GDP per Capita: ~$450

South Sudan, the world’s poorest country, gained independence in 2011 but has been plagued by civil conflicts that have hindered economic and social development. Despite its vast oil reserves, South Sudan suffers from the “resource curse,” where wealth in natural resources leads to corruption, division, and conflict instead of prosperity.

2. Burundi

GDP per Capita: ~$900

Unlike South Sudan, Burundi lacks significant natural resources. The civil war that ended in 2005 left the country in dire straits, with most of its population dependent on subsistence agriculture. Less than 5% of the population has access to electricity, and inflation (an average of 14%, but it touched 30% in 2023) remains a significant issue, contributing to the erosion of living standards.

3. Central African Republic (CAR)

GDP per Capita: ~$500

The CAR is rich in natural resources like gold, oil, uranium, and diamonds, yet its people remain among the poorest globally. Since its first democratic election in 2016, the country has seen some growth, driven by timber, agriculture, and the diamond trade. However, much of the nation remains under the control of armed groups, hindering development. Growth in recent years has shown a moderate recovery, driven by the lumber industry, recovery in the agricultural sector, and partial recovery in the diamond trade.

4. Democratic Republic of Congo (DRC) 

GDP per Capita: ~$1,500

Since gaining independence from Belgium in 1960, the DRC has experienced political instability and violence. Despite its vast mineral wealth and potential to become one of Africa’s wealthiest countries, about 65% of the population lives on less than $2.15 a day. The country has a population of 100 million, with the average per capita income hovering around $1,500 annually. However, according to the World Bank, the DRC has the resources and potential to become one of Africa’s richest countries and a growth engine for the entire continent. It is currently the world’s largest producer of cobalt and the leading copper exporter in Africa, two essential elements for the electric vehicle market.

5. Mozambique

GDP per Capita: ~$1,200

While rich in resources and strategically located, Mozambique continues to face poverty due to political instability and adverse climatic conditions. Despite these challenges, the IMF projects strong economic growth driven by the energy sector. To make matters worse, the gas-rich northern part of the country has been hit by attacks by Islamic insurgent groups since 2017. Despite this, according to the IMF, the economy remains booming: it is projected to grow by 5% in 2024 and 2025, with prospects for double-digit growth in the second half of the 2020s.

6. Niger

GDP per Capita: ~$500

Niger is heavily threatened by desertification, with 80% of its territory covered by the Sahara Desert. The rapid population growth outpaces agricultural production, worsening food insecurity. Additionally, ongoing conflicts with Boko Haram exacerbate the nation’s instability.

In 2021, with the election of the new president Mohamed Bazoum, a former teacher and interior minister, Niger experienced its first democratic transition of power and seemed poised for significant change. However, in the summer of 2023, Bazoum was captured by some members of his presidential guard, and since then, a military junta has ruled the country.

7. Malawi

GDP per Capita: ~$600

Malawi is seventh on the list of the poorest countries in the world. Its economy, heavily dependent on agriculture, is vulnerable to climate change and food insecurity. The government faces a severe economic crisis marked by fuel shortages, rising food prices, and currency devaluation.

8. Liberia

GDP per Capita: ~$600

Liberia, Africa’s oldest republic, has been among the world’s poorest nations for years. However, Joseph Boakai’s election in 2023 offers some hope for economic recovery, with growth projected to reach 5.3% in 2024.

9. Madagascar

GDP per Capita: ~$450

Since gaining independence from France in 1960, Madagascar has experienced political instability, contested elections, and slow economic growth. Despite high poverty rates and an inflation rate of nearly 8%, the current government under Andry Rajoelina, reelected in 2023, continues to struggle with widespread poverty.

How limited mobility hinders economic growth in Africa’s poorest countries

Limited mobility has a profound impact on economic growth, particularly for African countries that already struggle with poverty. According to research by Prof. Mehari Taddele Maru, African nations top the list of Schengen visa rejections, with around 30% of African applicants being denied compared to just 10% worldwide. 

This stark disparity highlights how restricted access to international travel further marginalizes the poorest countries, making it harder for individuals to seek better opportunities, engage in global trade, or even gain exposure to new skills and ideas. 

The high rejection rates are particularly pronounced in the poorest African countries, creating a vicious cycle where limited mobility exacerbates economic stagnation. With the ability to move freely, these nations can overcome significant barriers to growth, as their citizens can participate in the global economy, seek education abroad, or build international business connections.

You might be interested in The Most Powerful Passport: 2024 Global Rankings.

Conclusion

The ranking of the poorest countries in the world highlights the severe economic challenges many nations face. However, despite these difficulties, there is potential for future growth in these countries, with natural and human resources that, if properly harnessed, could significantly improve living conditions. Stay tuned for more insights if you’re interested in learning more about these countries’ global economic challenges and development efforts.

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Avon Files for Bankruptcy Amid Talcum Powder Lawsuit Crisis

Avon's bankruptcy and Johnson & Johnson's legal challenges

Learn about Avon’s bankruptcy due to talcum powder lawsuits and the parallels with Johnson & Johnson’s legal challenges. How will these companies navigate the crisis?

The beauty industry, once synonymous with innovation and prosperity, is currently grappling with one of its most significant challenges. A striking example of this turmoil is Avon’s recent bankruptcy filing, a dramatic turn of events signalling deep-rooted issues within the sector. In mid-August 2024, Avon officially filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the District of Delaware. This marked the culmination of years of financial and legal struggles primarily linked to asbestos-contaminated talcum powder lawsuits.

The Avon Bankruptcy

Avon’s decision to file for bankruptcy directly responds to the overwhelming legal pressure from 386 ongoing lawsuits. These cases allege that the company’s talcum powder products were contaminated with asbestos, a known carcinogen, leading to serious health concerns, including cancer. Despite Avon’s consistent denial of asbestos presence in their products, the company has faced significant financial setbacks due to adverse legal judgments.

One of the most severe blows came in 2020 when Avon was ordered to pay $46 million in damages. More recently, in July 2024, another hefty compensation of $24.5 million was imposed, further depleting the company’s already strained financial reserves. These mounting legal costs have left Avon with no viable option but to seek bankruptcy protection to manage its debts and restructure its business.

Parallels with Johnson & Johnson

Avon’s situation resembles the legal challenges faced by another industry giant, Johnson & Johnson (J&J). J&J has also been embroiled in lawsuits over asbestos-contaminated talcum powder, leading to thousands of claims and substantial financial penalties. However, J&J’s response to the crisis has notably differed due to its significant financial resources.

Like Avon, J&J strategically filed for bankruptcy for one of its subsidiaries, a manoeuvre designed to consolidate and manage the numerous lawsuits while working on debt restructuring. This “strategic bankruptcy” allows J&J to freeze ongoing litigation and focus on negotiating settlements, thereby limiting further financial damage.

However, despite the similarities, the two cases differ significantly in their potential outcomes. J&J’s global presence and robust financial standing have enabled it to withstand the legal onslaught. At the same time, Avon was weakened by years of decline and a tarnished brand image. J&J’s diversified portfolio and vast resources have provided a buffer against the crisis, a luxury Avon lacks.

The Fall of a Giant

For Avon, bankruptcy is the last resort after a series of challenges that have eroded its prestige and financial stability. The company has already paid out $225 million in settlements, yet the legal battles continue, straining its liquidity and threatening its survival after more than a century in the cosmetics industry.

Avon’s bankruptcy raises critical questions about its future and the beauty industry. The sector has become increasingly competitive, with new brands capturing the attention of more demanding and informed consumers than ever before. In this evolving market, sustainability, transparency, and innovation are crucial for survival, leaving little room for companies that cannot adapt swiftly to changing dynamics.

One potential lifeline for the industry could lie in blockchain technology, which promises enhanced transparency and traceability. With consumers increasingly favouring brands that can provide a “digital identity” for their products, detailing every ingredient’s origin and processing, blockchain could solve the challenges companies like Avon’s face.

Conclusion

While Johnson & Johnson may weather the storm due to its financial strength and crisis management capabilities, Avon’s future remains uncertain. The company’s bankruptcy could either signal the end of an era or catalyse a radical restructuring that might lead to a resurgence. Only time will tell whether Avon can rise from the ashes or become another example of how even industry giants can fall.

Discover how blockchain technology transforms the beauty industry by offering unprecedented transparency and traceability. Explore our industry insights on Young Platform. 

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Cryptocurrencies: 10 big companies already accepting Bitcoin

Cryptomonnaies : 10 grandes entreprises acceptent déjà le Bitcoin: 10 big companies already accepting Bitcoin

Cryptocurrencies are not the future but the present. Here are the major companies that accept Bitcoin payments.

Mass adoption? It’s getting closer and closer. Don’t just take our word for it; just look at how many companies, multinationals, and simple shops are gearing up to accept cryptocurrency payments. Even though many countries still do not fully regulate them, the crypto phenomenon is too big to be ignored. That’s why companies are keen to innovate and push for the spread of crypto payments. And it’s not just about specific niches, but very popular brands and services that are part of our daily lives.

Here is a list of ten companies that accept Bitcoin and cryptocurrencies as a method of payment.

  1. Mastercard

Mastercard has been allowing cryptocurrency payments through its platform for some time now, thanks to collaborations with major players such as Metamask and MoonPay. The company has recognised the usefulness of crypto as real currency. “With the interest [in crypto] coming from various sectors, the real-world applications of cryptocurrencies are surpassing pure speculation,” said Rama Sidhar, vice president for New Digital Payments at Mastercard. During the last months of 2022, the leading payment network company partnered with eight Web3 startups to make crypto more accessible. Among them is the mobile banking app Hi, with which it will launch the first customisable debit card featuring personal NFTs.

  1. Visa

Mastercard’s competitor has also dedicated its energies to cryptocurrency projects in recent years. Since 2020, Visa has been collaborating with various exchanges to offer users the ability to pay in Bitcoin and other cryptos via Visa-enabled debit cards.

  1. Gucci

Dream of buying luxury clothing with your satoshis? At Gucci’s US stores, since August 2022, it’s possible to pay in various cryptos. Specifically, they accept Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Dogecoin, Shiba Inu, ApeCoin (the Bored Apes Yacht Club token), and five stablecoins.

  1. Microsoft

Microsoft, which has accepted Bitcoin payments since 2014, is among the early adopters of blockchain technology. The cryptocurrency can be used for Microsoft services like Skype or Xbox Live.

  1. Tesla

Elon Musk, CEO of Tesla, was among the first entrepreneurs to show interest in Bitcoin. For a while, it was possible to buy electric cars using crypto. Then he changed his mind, temporarily halting Bitcoin payments until mining operations are completely powered by renewable sources.

Despite this, buying some Tesla accessories in Dogecoin (DOGE) is still possible.

  1. Amazon

Although paying directly with crypto on the world’s largest e-commerce platform is currently impossible, Amazon is seeking blockchain experts to join its team. Will we see this new feature soon? We can still shop with crypto through various debit cards or convert our cryptocurrencies into Amazon vouchers through third-party sites. Handy, isn’t it?

  1. PayPal

The payment giant introduced the ability to buy, sell, and hold some cryptocurrencies directly from its app in 2021. However, the feature remained exclusive to US users. In December 2022, there was a breakthrough: the announcement of a partnership between PayPal and Metamask. Thanks to this collaboration, it will be possible to log into your dedicated PayPal area with your Metamask wallet and buy crypto directly from your PayPal account in one step.

  1. Twitch

Twitch, the world’s most used streaming platform, also accepts Bitcoin and other cryptocurrencies for donations and subscriptions. You can support your favourite creators monthly through subscriptions or subs, paying with various cryptos, from Bitcoin to Ethereum, Dogecoin to Litecoin.

  1. McDonald’s

You can buy your Crispy McBacon with Bitcoin and the stablecoin Tether (USDT) at McDonald’s in Lugano. These payments are part of the “Plan B” initiative, which involved the capital of the Ticino canton in October 2022. This project aims to increase the adoption of cryptocurrency in the Swiss city. Payments at McDonald’s in Lugano are processed on Bitcoin’s Layer-2 blockchain, the Lightning Network.

  1. Starbucks

We close the list of 10 companies that allow Bitcoin payments as we would end a meal – with a good coffee, paid strictly in crypto. At American Starbucks cafes, you can buy espressos and frappuccinos in cryptocurrencies directly from the app, thanks to the partnership with Bakkt.

Stores where you can pay with Bitcoin

The companies on this list are not the only ones accepting Bitcoin and cryptocurrencies as payment methods, but they are probably the best known globally. Year after year, many other businesses of various sizes and operating in the most diverse sectors have adopted crypto.

Among these are physical stores located in crypto-friendly countries. Some practical examples? Certain Burger King stores in Venezuela, the US teams Miami Dolphins and Dallas Mavericks, and Coca-Cola vending machines in Australia and New Zealand.

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US inflation: the CPI figure

April and May 2024 FED meeting: forecasts, news and decisions

The Consumer Price Index (CPI), used to estimate inflation in the United States of America, has just come out.

The market’s fate depends on US inflation and, thus, on the Consumer Price Index (CPI) figure released today. For several months now, the question has been raised as to when the Federal Reserve (FED) will make its first interest rate cut, and, as its chairman Jerome Powell has repeated to the point of nausea, the decision depends mainly on US inflation. This has been orbiting around the 3% threshold for more than a year and has risen from 3.5% to 3.3% since March.

What does the latest CPI data tell us? On 31 July, the last Federal Market Open Committee (FOMC) meeting this summer, the first interest rate cut since 2020 will take place. 

US inflation at what to expect?

US inflation is now at, while ‘core’ inflation, stripped of the more volatile components represented by food and energy prices, is at. This is down from previous months but still far from the 2% target, a threshold considered healthy for the economy.

As we know, this figure is derived from the Consumer Price Index (CPI), an economic indicator used to measure the price development of goods and services purchased by consumers over time. The CPI is calculated by collecting data on the prices of a representative ‘basket’ of goods and services that consumers usually buy. This basket includes various products, such as food, clothing, housing, transport, education, health care and other common goods and services.

Jerome Powell said in a speech this Tuesday: ‘The FOMC only considers a reduction in the target range for rates to be appropriate once it has greater confidence that inflation is moving sustainably towards the 2% target. Who knows whether today’s US inflation figure justifies such a move?

Despite the above statement, which was far from optimistic, the chairman of the FED did, through another statement, give a slight boost to the markets, especially the traditional ones. He stated that: “in case the US cuts rates too late (or too little), it could adversely affect the economic situation.” 

In short, as is often the case, the scenario is rather intricate. On the one hand, the Fed might decide to start cutting interest rates, perhaps by 25 basis points, after the joyous news that came out today. On the other hand, the slowdown in inflation might not be sharp enough and, therefore, not justify a rate cut.

The impact of a rate cut

The FED’s decisions on interest rates directly affect people’s daily lives. Higher interest rates mean more expensive loans for house, car and business purchases but offer higher returns to savers who choose government bonds. Conversely, lower rates make loans more affordable but reduce returns on savings. For example, in 2023, 30-year mortgage rates reached an annual high of 7.79% before falling to 7.03% at the end of May 2024.

The FED’s decisions also influence the stock and cryptocurrency market volatility. In all likelihood, a more expansive or, as they say in the jargon, ‘dovish’ monetary policy stimulates the performance of these assets, which are considered riskier than bonds. The bull market of 2021, for example, began precisely when the major global economies, above all the US economy, decided to adopt economic policies that would stimulate growth to recover from the severe crisis caused by the COVID-19 pandemic. 

Enter the crypto world

We will see whether the latest US inflation figures released today will set the stage for a similar scenario in the months to come or whether, on the other hand, the situation is still delicate, and we will still have to wait several months to see the first interest rate cut.


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Differences between Mortgage Rates: Eurirs, Euribor, ECB and Inflation

The central reference rates for mortgages, Eurirs, Euribor, and ECB, differ. How do they vary with inflation, and how do they affect the cost of a mortgage?

The interest rate on your mortgage is one of the most important aspects to consider when deciding to borrow money. Understanding the differences between Eurirs, Euribor, and ECB rates can make a big difference in choosing the most suitable loan. 

Let’s examine in detail how these rates work, how they vary, and what influence inflation has on them.

Euribor: variable-rate mortgages

The Euribor, or Euro Interbank Offered Rate, is the average interest rate paid by banks in the Eurozone to lend money to each other. Or, in simple terms, it represents the cost of money in the Eurozone at a given time. The Euribor is calculated daily by the European banking federation through the weighted average of the interest rates of the most active banks in the Eurozone. This index varies daily and can have different reference durations, from one day up to 12 months. For example, the three-month Euribor rate was 3.7% on 10 July 2024. 

But what does this have to do with mortgages? The Euribor interest rate is the benchmark (or reference) used to calculate the interest rate of financial products such as personal loans, mortgages and variable-rate bank deposits. In other words, the instalments that those who have taken out a variable-rate mortgage have to pay vary directly to Euribor; if Euribor falls, they become cheaper. 

Eurirs: fixed-rate mortgages

On the other hand, the Eurirs (Euro Interest Rate Swap) is the reference rate for fixed-rate mortgages. Like the Euribor, it represents the cost at which banks and other European credit institutions borrow money from each other at a predetermined cost. The Eurirs is calculated daily by the European Banking Federation and varies depending on the loan duration. The longer the period, the higher the rate applied. For example, as of 10 July 2024, Eurirs rates for a 20-year mortgage were 3.6%.

ECB interest rates

Finally, we come to the ECB interest rates, the ones we hear about most often, especially from 2021 onwards, as they have been raised to fight inflation. These are decided monthly by the European Central Bank and represent the rate at which commercial banks can borrow money from it. To understand the difference between previous lending rates and ECB interest rates, the ECB interest rate can be interpreted as the ‘wholesale price’ of money for European banks. 

However, to understand how these vary, we cannot ignore inflation, an economic phenomenon that represents the general increase in prices over time and reduces the purchasing power of currencies. 

But why does inflation affect interest rates? The relationship between these two values is not direct. Interest rates do not automatically change in relation to inflation since they are decided by the ECB. However, the world’s central banks intervene when the cost of money reaches worrying levels, in most cases, by raising them.In conclusion, choosing the right mortgage requires understanding the different reference rates and their variations. Eurirs offers stability for fixed-rate mortgages, while Euribor represents variability for variable-rate mortgages. The ECB rate directly influences the short-term cost of money, and inflation plays a crucial role in the economy, affecting all interest rates.

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US elections: the impact on the price of Bitcoin

Donald Trump's meme coin on Solana

What impact will the US election have on the price of Bitcoin? According to Standard Chartered, they could cause the cryptocurrency to explode to the upside.

Many analysts believe Donald Trump’s victory in the upcoming US elections could favour Bitcoin and the cryptocurrency sector. Standard Chartered Bank, one of the UK’s most important financial companies, supports this thesis.

What is the basis for this belief’s recent spread? Should Donald Trump return to the White House, where could the price of Bitcoin go? Standard Chartered has updated its BTC price forecast to $150,000 by the end of 2024.

Buy Bitcoin!

US elections: Why could a Trump victory be good?

The first aspect to consider in estimating the impact of Donald Trump’s inauguration on Capitol Hill is the regulatory one. The tycoon has reiterated several times that he has no intention of repressing the use of Bitcoin and, therefore, would not oppose the cryptocurrency sector should he win the US elections. One of the last statements on the subject dates back to March when Trump said on CNBC’s microphones that he was aware of and accepted the phenomenon, even though he reiterated his total and unconditional support for the dollar.

Another theory that accompanies the belief of those who expect a bullish crypto market in the event of a Donald Trump victory is related to the incumbents at the head of key government institutions. Should Joe Biden’s term, and with it the current Democratic term, come to an end, some heads could ‘jump’. 

The industry’s eyes are mainly on Gary Gensler, the chairman of the Securities and Exchange Commission (SEC) and its biggest antagonist in recent years. Gensler has long been linked to the Democratic Party, and therefore, a rise to power of the Republican faction could put his chair at risk.

As proof of this, in a video recently made public on X (formerly Twitter), Trump states that ‘they’, referring to the Democrats and Gary Gensler, are hostile to cryptos and jokes that, according to him, Joe Biden doesn’t even know what they are. In short, cryptocurrencies could find fertile ground within the institutions should Trump win the US elections on 5 November 2024.

Will Trump inject liquidity into the markets?

It is indeed worth noting that Donald Trump has favoured highly expansive monetary policies characterized by near-zero interest rates and debt monetization. These policies could have a significant impact on the price of Bitcoin in the event of his re-election in the 2024 US elections. This term refers to the tendency of governments to use central banks as buyers for their debt. In other words, when this scenario occurs, the Federal Reserve (FED) would issue new money to buy US government bonds. This scenario is particularly attractive when the public debt of the country in question is particularly high and, above all, when there is a risk that the markets begin to doubt its sustainability.

But what impact would this forcing of the economy have on the cryptocurrency sector? The only way to estimate this is to analyse data from the last Trump term, when interest rates were close to zero, such as ‘confidence’ in the US treasury market or US government bonds. Suffice it to say that during the first term, the average annual net sale of US government debt reached USD 207 billion, compared to USD 55 billion during the Biden presidency. The crypto and stock markets boomed at that juncture as they provided a hedge against de-dollarisation. One of the side effects of this practice is, in fact, currency devaluation, which is generated by increasing the amount of money circulating in an economic system.

Bitcoin price predictions

Having clarified the economic and regulatory environment, it is time to address the possible influence of the US elections on the price of Bitcoin. Obviously, it is impossible to know what will happen should Donald Trump return to the White House, but this does not stop industry commentators from publishing their predictions.
Standard Chartered’s, already anticipated in the introduction of this article, had more media resonance. For the UK bank, the price of Bitcoin will reach $150,000 by the end of 2024 should Donald Trump become the US president for the second time in history. But that is not all! According to Geoff Kendrick, Head of Crypto Research at the financial company, the value of a single Bitcoin could touch $200,000 in 2025.

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Self-Improvement Books: Which Are the Best?

Which are the best self-improvement books? A list of ten titles you absolutely must read.

Identifying the 10 best self-improvement books is a challenging, nearly impossible task given that every reader has their tastes and may be driven by specific needs. However, given the incredible literary output in this field, it can be helpful to make a selection, especially for those who need to choose their first book of this type and don’t know where to start.

Here is our list of the 10 best self-improvement books.

  1. “Deep Work” by Cal Newport

“Deep Work” explores the importance of dedicating oneself intensely to complex and meaningful tasks to achieve extraordinary results. Newport provides practical strategies for cultivating concentration and improving productivity.

This book is perfect for those who want to reduce distractions and increase the effectiveness of their work. It helps them develop the ability to work deeply and manage time better.

After reading this book, you might start exploring the world of cryptocurrencies. Through this work, Cal Newport provides very effective tips for studying and delving into the most complex topics of our time. What could be better than this innovative sector where various disciplines mix, mainly computer science and economics?

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  1. “Atomic Habits” by James Clear

“Atomic Habits” offers a detailed guide on how to build positive habits and eradicate negative ones through small daily changes. Clear uses scientific research and personal stories to illustrate how habits shape our lives. This book is essential for those who want to improve gradually and achieve lasting results, offering simple and practical strategies that can lead to significant changes in their lives.

  1. “The Power of Now” by Eckhart Tolle

“The Power of Now” is a classic in all bookstores in the self-improvement section. It teaches the importance of living in the present to achieve inner peace and happiness.

Tolle combines elements of philosophy and psychology, offering a practical guide to living a more mindful and fulfilling life. Through the book, Tolle helps readers free themselves from the chains of the past and worries about the future, focusing on the only moment that truly matters: the present.

  1. “Your Erroneous Zones” by Wayne W. Dyer

“Your Erroneous Zones” is a fundamental book for those who want to free themselves from self-limiting thoughts and behaviours. Wayne W. Dyer offers practical strategies to identify and overcome “erroneous zones,” or those ways of thinking that prevent achieving full personal fulfilment. This book invites you to take control of your life and live it more authentically and freely.

  1. “The 7 Habits of Highly Effective People” by Stephen R. Covey

This book is a comprehensive guide to improving personal and professional effectiveness through seven fundamental habits. Covey provides tools and strategies to develop a balanced and productive life, making it a must-read for anyone who wants to improve their time management and leadership skills.

  1. “Designing Your Life: How to Build a Well-Lived, Joyful Life” by Bill Burnett and Dave Evans

Bill Burnett and Dave Evans, professors at Stanford University, present an innovative approach to designing a fulfilling life using design thinking principles.

“Designing Your Life” offers practical tools for fully exploring your passions, overcoming obstacles, and building a rewarding career and life. This book is ideal for those seeking a structured method for tackling important life decisions with creativity and confidence.

  1. “Think and Grow Rich” by Napoleon Hill

A classic of motivational literature, “Think and Grow Rich” explores the fundamental principles of financial and personal success. Hill analyses the habits and philosophies of great businessmen and suggests to readers how to apply them in their daily lives to achieve ambitious goals.

Based on decades of research, this book offers practical strategies for achieving success.

  1. “Tools of Titans” by Tim Ferriss

“Tools of Titans” is a collection of advice and strategies from some of the world’s most brilliant and successful people, gathered and commented on by Tim Ferriss.

The book covers many topics, including health and professional life, offering practical insights and the right inspiration to improve your lifestyle. Ferriss distils information from over 200 interviews with world-renowned athletes, entrepreneurs, and artists, making this book a treasure trove of valuable knowledge.

  1. “The Elephant in the Brain” by Kevin Simler and Robin Hanson

“The Elephant in the Brain” analyses the unconscious motivations that drive our behaviour. The authors argue that many of our actions are guided by hidden motivations we do not know. This book offers a fascinating perspective on how the human mind works and how our true motivations influence our daily behaviour.

  1. “Principles: Life and Work” by Ray Dalio

Ray Dalio, one of the world’s most renowned investors and entrepreneurs, shares the principles guiding his life and career. The book is a collection of lessons on how to face personal and professional challenges with wisdom and integrity, offering valuable teachings on leadership, risk management, and innovation. Dalio presents a structured approach to life and work based on clear and tested principles, which can help anyone improve their decision-making skills and succeed.

These books represent some of the best resources available for those looking to improve themselves and succeed in various life aspects. Each offers practical tools and strategies that can be immediately applied to begin one’s journey of personal growth.

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Is now a good time to take out a variable-rate mortgage? Euribor forecasts

Euribor forecasts: variable-rate mortgages

How will the cost of variable-rate mortgages vary in the coming months? To predict this, it is necessary to analyse the central forecasts on Euribor, the European reference interest rate.

What the latest forecasts tell us about the Euribor, or Euro Interbank Offered Rate, which is the average interest rate paid by banks in the eurozone to lend money to each other and the benchmark for variable-rate mortgages.

In recent months, Euribor forecasts, particularly three-month ones, have attracted the attention of many financial industry experts, who have analysed various factors to predict future fluctuations. What is the current Euribor forecast for the last months of 2024?

Euribor forecasts: what will happen in the short term?

The first actor to provide its Euribor forecast is, as one would hope, the European Union, through the ‘Spring 2024 Economic Forecast’, a report analysing, in a broad sense, the economic situation in Europe. 

The executive summary of the document provides an overview highlighting the most important data for the Union, such as the Gross Domestic Product (GDP) growth rate and the inflation rate. It also includes some forecasts on Euribor and the factors that will influence it. 

Of course, the future of the Euribor is closely linked to the decisions of the European Central Bank (ECB) regarding interest rates. These were already reduced by 25 basis points in June and currently stand at 4.25%. According to the Union, these will reach the threshold of 3.2% by the end of the year and 2.5% by the end of 2025.

Chatham Financial expects Euribor to decrease to 3% by early 2025 and 2.7% by the end of next year. 

Erste Group, one of the leading financial institutions in Central and Eastern Europe, has a slightly more optimistic Euribor forecast. After the first interest rate cut in June, the lending institution expects Euribor to reach 3% by the end of the year and 2.6% by July 2025.

Most banks and credit institutions’ forecasts for the last months of 2025 are similar. They all expect the three-month Euribor to fall, possibly dropping below 3% after next summer. This suggests easing the ECB‘s restrictive monetary policies in response to lower inflation.

The impact on variable-rate mortgages

Why are Euribor forecasts important for those who have taken out a variable-rate mortgage or intend to do so shortly? Because the mortgage cost varies precisely according to the fluctuations of this value. Therefore, a decrease in Euribor would reduce the monthly mortgage instalments, thus enabling holders of variable-rate mortgages to save money.

In short, the Euribor forecasts suggest that a favourable market phase for variable-rate mortgages is ahead of us after a few years of very steep repayments! As mentioned in the previous paragraphs, this trend is closely linked to ECB policies and global economic conditions. This information is crucial for borrowers to plan their finances better and consider possible switches to fixed-rate mortgages if more stability is desired.


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Crypto market and ‘Covid crash’: will central banks save us?

Crypto market crash: like the Covid crash of 2020?

In the last few hours, we seem to be reliving the COVID-19 crash of 2020. Could the market restart after central bank intervention, as it did four years ago?

Over the past few days, fear has reigned in the crypto market, which has collapsed along with the stock market. During yesterday’s day, Bitcoin lost more than 15% of its value in less than twenty-four hours, while the NASDAQ and the S&P 500 lost about 5% and 3%. 

The week of 9 March 2020, the markets were shaken by a similar event, albeit characterised by a more pronounced bearish movement. At that time, the collapse was caused by the outbreak of the pandemic and the adoption of lockdown measures by most of the world’s countries.

Look at the Bitcoin chart

Yesterday’s bearish movement, however, seems to have stemmed from a much broader spectrum of factors: the escalation of the conflict in the Middle East, the Japanese Central Bank’s cut in interest rates, and the consequent collapse of the Nikkei, the country’s main stock market index. Then, the crisis of US technology companies and the fear of an economic recession in the US were accentuated by the latest unemployment figures.

What are the similarities between these two market crashes? Not so much in terms of the causes and price movements that have already taken place as in terms of the possible responses of central banks and the associated price rebound.

Crypto market collapse: key figures

Yesterday’s crypto market crash was the most violent since 2022. The Crypto Total Market Cap, the total market capitalisation of cryptocurrencies, fell to $1.7 trillion at its most critical moment, registering a 15% drop. If we analyse the performance from the end of July onwards, the market capitalisation of the entire sector faced a 30% reduction due to the massive wave of liquidations.

The positions of many traders were forcibly closed, with a monetary counter-value of about $1.07 billion on centralised exchanges. The total value of those swept away on-chain, on DeFi protocols such as Aave or Curve, was around $350 million. Finally, the founding rates for Bitcoin and Ethereum futures turned negative. This means most investors have positioned themselves short and are betting on a further price collapse.

Exploits Bitcoin’s Bearish Movement

Some have dubbed yesterday, perhaps exaggerating, ‘Black Monday’, a profoundly negative day comparable to those of the pandemic era. Despite this, however, referring purely to the future scenario concerning the crypto market, it may not be the case to despair too much. There are several reasons to be cautiously optimistic about the future. For instance, the price performance of the most important cryptos in recent hours and the possible impact of an early rate cut by the Federal Reserve (FED), which is becoming increasingly likely.

Covid Crash: price movements

To analyse the current scenario, it may be useful to compare the current situation with the crypto market in 2020. At that juncture, in just a few days, the crypto market lost almost 50% of its total value. The crypto total market cap went from $228 billion to $118 billion, the price of Bitcoin went from $8,000 to almost $4,000, and Ethereum went from $270 to less than $100. Similarly, the performance of the stock market was also affected by the arrival of the pandemic. The S&P 500 lost about 35% of its value in less than a month, while the NASDAQ lost 30%. 

In the months immediately following, however, the market rebounded strongly, mainly due to the expansive monetary policies adopted by all the major central banks, which we will discuss in the next section. The price of Bitcoin, in the following 52 weeks, recorded +1,400%, or more than a x10. On the other hand, Ethereum rose by +1,500%, rising from $110 to $1,800, reaching its all-time high at $4,700 the following year. It was the same for the stock market, although the movements were much smaller in percentage terms. A year later, the S&P 500 and the NASDAQ almost doubled their value (+89% and +90%). Could we see the same scenario in the coming months?

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In short, the ‘Covid Crash’ was a launching pad that allowed all assets to restart strongly after their respective corrections, but what was the petrol that allowed the engines of finance to restart?

The response of the central banks

As mentioned in the introduction, the most exciting part is not the price movements of the main assets but what happened afterward, i.e., the central banks’ response to the situation. This is because the main issues that caused these violent corrections seem similar.

On 12 March 2020, the Governing Council of the ECB (European Central Bank) implemented a package of monetary policy measures aimed at “supporting liquidity and financing conditions for households, businesses and banks and helping to preserve the smooth supply of credit to the real economy”. Then, on 18 March, the European Union announced a massive Quantitative Easing measure, i.e. an unconventional policy action to increase the supply of money in circulation, the Pandemic Emergency Purchase Plan (PEPP). The PEPP injected some EUR 1,850 billion into buying public and private bonds from March to December. Adding this figure to those of the other measures, such as the Targeted Longer-Term Refinancing Operations (TLTRO) and the Asset Purchase Program, launched in September 2019 at the end of the Draghi era, brings the total to almost EUR 3 trillion mobilised by the ECB over three years.

On the other hand, the FED, to stimulate the economy and shelter itself from the risk of recession, immediately cut interest rates, a measure that the ECB could not implement given that European rates had already been zero since 2016. Then, the FED continued with Quantitative Easing policies. It is estimated that the FED injected more than $3 trillion into the economy in the immediate aftermath of the pandemic.

What can happen in the coming weeks?

Is the recent crypto and stock market crash a sign that what happened in 2020 could be repeated in the coming weeks? According to most economists, this is possible since the latest US employment data show that the economy is weakening and the risk of a recession is growing.

Leading macroeconomic experts expect an extraordinary meeting through which interest rates will be reduced, at least as far as the US ‘front’ is concerned. For example, Austan Goolsbee, president of the Chicago Federal Reserve, stated in an interview with CNBC that the Fed is ready to intervene if the US economy deteriorates. The first sign of this came with the latest unemployment figure, which was worse than expected (4.3% instead of 4.1%). Even Elon Musk commented on this, calling the US Central Bank ‘foolish’ for not yet cutting interest rates, as the ECB has already done.

However, the differences from the pandemic period must be noticed too, especially about the size of the crypto world and its degree of adoption. In 2020, the sector’s total value was 10% of today’s, and the world’s most significant investment funds had yet to join this market. 

In conclusion, the current macroeconomic scenario is similar to that of 2020. Can the conflict in the Middle East, the ‘recessionary danger’ caused by more than two years of severely restrictive policies, rising unemployment, and the crisis of technology companies compose a sufficiently strong motive to push global economies to reignite?