Conventionally, the US dollar has been the de facto universally acceptable currency for global trades. Well, it has been the most prevalent and popular currency in the gamut of forex market, and as such, it is no wonder that BTCUSD is one of the most commonly used trading pairs.

BTCUSD accounted for more than 48 percent of all Bitcoin/fiat trades over the last 24 hours. While JPY stood as a second counterpart with more than 47.23 percent of all such transactions within the same time frame, as perthe cryptocurrency market indexing platform Coinhills.

Swiss company Alprockz AG had announced a stable coin backed by Swiss franc on ethereum platform by the name of ROCKZ back in September 2018.

This stable coin appears to be stable as conventional currency, simultaneously ropes in the swiftness of transactions. As a result, Swiss fund flow took place into the crypto avenues comparatively much faster. It will store 90 percent of reserve funds in CHF banknotes in Swiss high-security bank depositories, as per a press release of the sources. Rest would be retained in several Swiss banks to ensure adequate liquidity.

EMFX space is no exception from participating into cryptocurrency activities:

INR: On Localbitcoins, the number of BTC traded in INR has also been growing, with 302 BTC traded in the week of Dec. 22 as well as in the previous week.

As per the sources of qz.com, Korean crypto-craze has been commendable as the “Kimchi premium” or the extra that Koreans paid for cryptocurrencies versus global price benchmarks—swelled to 50%.

While Chinese sentiments towards cryptocurrency has been mixed bag. The PBoC has been striving to develop its own cryptocurrency prototype amid trade turmoil even though the CNY only contributes for 1 pct of the overseas payments market and 1.8 pct of all reserve assets caged by central banks, China alone accounts for 27.2 pct of total global GDP growth in last fiscal year. This commendable performance brands it the principal solo contributor to the current global economy despite prevailing depreciation of the Chinese yuan.

Currency Strength Index: FxWirePro's hourly BTC spot index is inching towards 49 levels (which is bullish), while hourly USD spot index was at 37 (mildly bullish) while articulating (at 09:06 GMT).

For more details on the index, please refer below weblink: http://www.fxwirepro.com/currencyindex