The US Dollar Index (DXY) maintained a steady position around the 106.00 mark this week, as markets digest the impact of last week’s robust Nonfarm Payrolls (NFP) data. While a December rate cut by the Federal Reserve (Fed) is still widely anticipated, investor focus has shifted to the upcoming November Consumer Price Index (CPI) data, scheduled for release on Wednesday.
Inflation Outlook and Economic Indicators
Analysts project that annual headline inflation will climb to 2.7% in November, up from October’s 2.6%. Meanwhile, the core CPI is expected to remain unchanged at 3.3%. Despite these projections, the Greenback continues to benefit from a solid US economic backdrop, with strong growth and sentiment indicators providing ongoing support.
Encouraging economic data, such as the surge in the NFIB small business optimism index to its highest level since June 2021, underscores the resilience of the US economy. Additionally, the Atlanta Fed GDPNow model predicts a robust Q4 growth rate of 3.3%, while the New York Fed Nowcast model forecasts 1.9% for Q4 and 2.4% for Q1 2025.
Market Expectations and Technical Analysis
Markets are currently pricing in nearly a 90% probability of a December rate cut, although it’s anticipated to be a “hawkish cut” due to persistent inflationary pressures.
From a technical perspective, the DXY is hovering near the 106.00 level, with mixed signals from technical indicators. The Relative Strength Index (RSI) is pointing slightly upward but remains in negative territory, indicating limited bullish momentum. The Moving Average Convergence Divergence (MACD) indicator shows smaller red histogram bars, suggesting a reduction in bearish pressure.
The index is approaching the 20-day Simple Moving Average (SMA), a crucial level for short-term directional cues. Resistance levels are identified at 106.50 and 107.00, while support remains strong between 105.50 and 106.00.
Traders are closely monitoring the upcoming CPI release on Wednesday, as it could trigger significant market volatility depending on the inflation outcome.
Coinstore, a leading global cryptocurrency exchange, has announced its participation in TOKEN2049 Dubai, one of the world’s premier crypto and Web3 industry gatherings taking place from April 30 to May 1, 2025. Beyond the booth, Coinstore will host an exclusive Brand Conference and Afterparty, bringing together partners, community leaders, influencers, and media representatives from across the global Crypto ecosystem.
On April 29, 2025, from 10:00 AM to 6:00 PM, Coinstore will host its “CONNECT & INNOVATE” conference at the DUKES THE PALM HOTEL in Dubai. The event will bring together global Web3 industry leaders, top investment institutions, innovative project teams, and technical developers to explore the future potential and collaborative opportunities in the crypto industry.
The conference will feature 10 keynote speeches from renowned Web3 thought leaders covering industry trends, technological evolution, and ecosystem development, alongside 5 panel discussions focusing on hot topics like AI+Crypto, RWA, DeFi, and infrastructure development.
With over 200 industry participants from exchanges, investment institutions, developers, and project teams expected to attend, the event will be simultaneously livestreamed on YouTube to maximize global reach and supported by more than 50 mainstream media outlets for multichannel, multilingual distribution.
As an integral part of its Dubai tour, Coinstore will establish a distinctive booth at the TOKEN2049 main venue (P39, Madinat Jumeirah) from April 29 to May 1. The booth design incorporates creative bar and mixology elements, cleverly conveying the platform’s openness, liquidity, and user-friendly attributes while providing visitors with an immersive crypto experience.
Gilded Mirage Afterparty
As the grand finale of our Dubai expedition, Coinstore is hosting the Gilded Mirage afterparty on May 1, 2025, from 5:00 PM to 8:00 PM at the Twenty Three Rooftop Bar.
This meticulously planned event offers attendees a networking platform that transcends conventional conference formats. Against the backdrop of the city’s night skyline, participants can engage in natural conversations with Coinstore’s leadership team, global investment firm representatives, and key industry figures in a relaxed and pleasant atmosphere. The setting encourages the exchange of ideas and exploration of collaborative opportunities.
This rare occasion allows you to expand your professional network and deepen industry partnerships while unwinding in an elegant setting.
“Dubai has established itself as a crypto-friendly hub with forward-thinking regulations,” added Johnson, CEO at Coinstore. “TOKEN2049 provides the perfect backdrop for us to showcase our platform innovations and strengthen relationships with partners who share our vision of a more open and accessible financial future.”
The event’s co-organizers include KIOS, SCROLL, and Genezys. with DUX as the Diamond Sponsor.Gold Sponsors include BID, USA, Global Dollar, Opt Blockchain, OZK, IRON, ZELF, DEBC, MIST, TQF, TELcoin, Intelace, and ETHI.
With special thanks to Yido Labs, RWA, NOW, and IVT.
Media coverage for the event is supported by partners including MetaEra, PA News, Techflow, Droom Droonmom, The News Crypto, Coinedition, Coin Gabbar, Lacademy, Geekmetaverse, All Confs, Voice Of Crypto, 36Crypto, and others.
About Coinstore
Accessibility. Security. Equity.
As a leading global platform for cryptocurrency and blockchain technology, Coinstore seeks to build an ecosystem that grants everyone access to digital assets and blockchain technology. With over 10 million users worldwide, more than 1,100 listed tokens including 100+ premium digital assets. Coinstore is dedicated to providing secure, professional, and accessible digital asset trading service.
As a pioneer in Launchpad, Coinstore’s Launchpad have shown remarkable performance, with an average ROI of prime exceeding 1,200%. Coinstore, the first choice for the initial launch.
The US Department of the Treasury predicts that the stablecoin market could reach a market capitalization of $2 trillion by 2028. This marks a sevenfold increase from its current level of approximately $240 billion.
Meanwhile, MEXC COO has stated that this milestone may be achieved sooner, possibly by next year.
Why the Stablecoin Market is Set to Explode by 2028
Institutional interest in crypto products, such as Bitcoin (BTC) and Ethereum (ETH) ETFs, is increasing. Notably, stablecoins play a central role in blockchain-based transactions, especially as the tokenization of financial assets expands.
Additionally, clearer regulatory frameworks, including the potential inclusion of stablecoins in liquidity management strategies and allowing banks to access public blockchains, would integrate stablecoins into traditional financial systems. The developments position these assets for significant market expansion.
“Evolving market dynamics, structures, and incentives have the potential to accelerate stablecoins’ trajectory to reach ~$2 trillion in market cap by 2028,” the report read.
Currently, USD-pegged stablecoins dominate the market, accounting for over 99% of the market cap. Tether (USDT) is the leading player, with a capitalization of $145 billion. Circle’s USDC (USDC) comes in second with a market cap of $60 billion.
Thus, their growing adoption could significantly impact the banking and Treasury markets. Stablecoins, particularly those that are yield-bearing or offer unique payment features, could lead to a shift in demand from traditional bank deposits to stablecoins. This, in turn, could force banks to raise interest rates or find alternative funding sources.
Additionally, the report noted that stablecoin adoption could increase demand for short-term Treasuries. This is contingent on the passing of the GENIUS Act. The proposed bill mandates that stablecoin issuers hold US Treasuries as reserves.
Additionally, the reserve requirements outlined in the bill could help mitigate the risk of de-pegging. This would reduce the need for issuers to rely on the Federal Reserve during times of stress or volatility.
“Demand in stablecoins could have a net neutral impact on the US money supply, however the attractiveness of USD-pegged stablecoins could drive currently non-USD liquidity holdings into USD,” the report added.
MEXC COO Predicts $2 Trillion Stablecoin Market by 2026
“With many sovereign banks and corporations exploring stablecoin issuance, particularly in other fiat currencies, and governments prioritizing regulation clarity, the stablecoin market cap could exceed $2 trillion by 2026,” Jin told BeInCrypto.
Jin highlighted that ongoing macroeconomic uncertainty will likely drive further growth in stablecoin market capitalization.
“Despite the recent volatile market landscape, stablecoin demand has remained resilient, growing over $38 billion year-to-date. Stablecoins now account for 1% of the global M2 USD money supply, processing over $33 trillion in volume in the last year, including $2.8 trillion in the last month alone,” she said.
According to Jin, the expanding role of these assets in decentralized finance (DeFi), cross-border payments, and digital asset trading is expected to be crucial in the next phase of cryptocurrency market growth and the broader mainstream adoption of digital assets.
Their capacity to provide stability and liquidity, particularly during times of market volatility and liquidity shortages, solidifies their importance as a core asset for institutional and retail investors.
A group of pro-crypto Senate Democrats introduced an amendment to the GENIUS Act that is widely expected to fail—on purpose.
The move appears designed to look like opposition while actually helping the stablecoin bill pass. This largely ceremonial opposition will allow Democrats to save face on a potentially unpopular move.
What’s Happening with the GENIUS ACT?
The GENIUS Act, a major bill to regulate stablecoins, has stirred controversy. Critics worry it could enable corruption or destabilize the financial system. Despite those concerns, the bill retains modest bipartisan support and is advancing in the Senate.
Recently, according to multiple reports, Democrats introduced an amendment—the End Crypto Corruption Act—that allows the bill to proceed to a vote, even if the amendment fails.
This unusual strategy prevents Democrats from using a filibuster to block the GENIUS Act, clearing a key legislative hurdle.
In effect, this lets Democrats claim they tried to strengthen the bill without actually stopping it from passing. One source dubbed the move “Schumer 101.”
The reference is based on Senate Majority Leader Chuck Schumer’s past use of similar procedural tactics to prevent a government shutdown.
“The [GENIUS Act] as it currently stands still has numerous issues that must be addressed. While we are eager to continue working with our colleagues to address these issues, we would be unable to vote for cloture should the current version of the bill come to the floor,” a joint statement from the amendment’s Democratic supporters read.
Why This Matters
The amendment is symbolic. It won’t pass, but it gives cover to pro-crypto Democrats who don’t want to publicly back the GENIUS Act outright.
Also, it neutralizes the filibuster threat. A filibuster is a procedural tactic used in the US Senate to delay or block a vote on a bill or nomination. By introducing this amendment via a cloture vote, Democrats can’t later use the filibuster to block the bill.
Most importantly, it ensures forward momentum. Even with some public opposition, the GENIUS Act can now reach a vote and likely pass.
Recently, Rep. Maxine Waters led a Democratic boycott of a crypto policy hearing.
The vote for the GENIUS Act’s final fate will take place sometime next week, and a few Democrats still vocally oppose it. Nothing is necessarily guaranteed; Republican defectors may get cold feet.
Still, currently, its chances look very good. Stablecoin regulation in the US may be on the verge of major success.
