US Economic Crisis and Global War Contributes to Bitcoin’s Rise: Analysts Report
US Treasury Secretary Janet Yellen says America can support Israel and Ukraine in their conflicts, amid rising global economic concerns causing bitcoin to rise
Janet Yellen, the US Treasury Secretary, told Sky News the US can support two wars: in Israel against Hamas and in Ukraine against Russia. She believes the strong US economy can help these countries. Yellen said, "We need funds for Israel and Ukraine. It's a priority."
Yellen also assured support for Israel, saying, "We are with Israel and will help them." There are concerns about Iran possibly joining the conflict. Yellen mentioned ongoing diplomatic talks but didn't give further details.
The conflict in the Middle East could impact oil and gas prices, which were already high last year in Western countries. This situation might be why Bitcoin's price is rising, as people look for stable investments during uncertain times.
Yellen also spoke about inflation improving but emphasized the need for political support for more funding for Israel and Ukraine.
The DeFi (Decentralized Finance) ecosystem is growing fast in the Cardano network. Its total value is around $302.39 million, peaking in March 2022. This growth is partly due to ADA’s price increase and new DeFi projects on Cardano.
Paul, an analyst, highlighted projects like DexHunter, Cherrylend, and IUSD in the Cardano ecosystem. DexHunter has grown by 57% recently, but Cherrylend and IUSD are facing challenges, with IUSD struggling due to supply and demand issues.
