The Most Cash Circulating In 20 Years

Plus more Chainlink partnerships and French CBDC intrigue

Happy Monday Blockfolians

The Lede

US cash in circulation has reached its highest level since panic buying around the potential of a “Y2K bug” in 1999. Between March 11 and March 18, banknotes in circulation spiked 2%.

Whatever the precise cause of this cash expansion is, it’s one more indicator of the economic anxiety and nervousness people feel right now. Indeed, only days after the biggest stimulus package in history was signed, legislatures are already discussing more.

Stay safe out there, friends.

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Highly Relevant Reading

  • Tron launches “Djed” - a MakerDAO-style stablecoin designed to bring the company into the DeFi revolution

  • Chainlink partners with crypto lending platform Celsius to decentralized interest rates

  • Opera browser expands crypto-buying capabilities to Europe and partners with Unstoppable Domain’s .crypto domain

  • French central bank issues a call for digital currency experiments


Community Commentary

Take a break from your Covid routine to check out this fun thought experiment on how DAOs might impact venture capital
And speaking of a break, this week Vitalik dropped this 20+ tweet thread reviewing the Sovereign Individual - one of the most influential books in the crypto community.

A Really Big Number We Should Be Paying Attention To

$2,000,000,000

Those are the amount net inflows of stablecoins over the last few weeks of the economic crash, suggesting both a flight to safety among crypto investors as well as a flight to dollars from emerging markets.

stablecoin-market-capitalization

Final Thought

For those rejecting the ‘safe haven’ narrative entirely…maybe it’s because we don’t even know what safe means anymore?