Happy Monday Blockfolians
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
Take a break from your Covid routine to check out this fun thought experiment on how DAOs might impact venture capital
MetaClan 🎮 @MetaClanDAOThe launch of MetaClan is upon us! 🎮 Dive in to learn more about our #DAO roles and structure in tandem with our Genesis Commander @3xhuman 🔮 We’re partnering with @AxieInfinity to provide members with $SLP for our first breeding quest 🧪 https://t.co/aE9ZeTKnRJ
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
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.
For those rejecting the ‘safe haven’ narrative entirely…maybe it’s because we don’t even know what safe means anymore?