Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The crypto market ends the week at a total market capitalization of $2,17 trillion. Bitcoin continues to trade at around $62,300. Ethereum experiences no changes and stagnates at around $2,400. XRP is down by 2%, Solana by 1%, and Dogecoin by 3%. Almost all altcoins are trading in the red, with very few exceptions. The DeFi sector decreased the total value of protocols (TVL) to around…
Opinion
Is Solana a Decentralized Network? Recent Events Say Otherwise
Solana, a smart contract center, has been the talk of the crypto world for about a month now. Its value increased nearly 7 times between August and September, from merely $30 to over $200. Those excellent moves in the coin and network show that the blockchain is heading to greatness. Nonetheless, the cryptocurrency has seen its value plummet from the recent ATH to values below $150. Analysts are still discussing whether the crypto's price action signals a pump and dump…
4 years ago
Terrorist Financing Accrues Only 0.05% of All Illicit Crypto Transactions, Coinbase States
According to crypto exchange Coinbase, terrorist financing crypto transactions accounted for less than 1% of all activity in the crypto space last year. The world is keen on terrorist financing, especially through cryptocurrencies, as the Taliban group took over Afghanistan. Moreover, many believe the Taliban may consider crypto as a way to finance its operations. It could be due to the decentralization of cryptocurrencies that might pose a safe spot to conduct terrorist financing. Nevertheless, all illegal transactions carried in…
4 years ago
How Can Google Help Mitigate Crypto Crime Cases
Cryptocurrency-related crimes have been around for quite some time. Perpetrators are coming up with new methods as blockchain technology advances. Since Google deals with internet-related services, it is perfect for solving crypto crimes. Inform Investors on Crypto Crimes As more people are getting into cryptocurrencies, scammers are revamping new ways to steal funds. Crypto criminals can steal their crypto through crypto-jacking. Cryptojacking happens when a crypto mining code gets into the target's computer through phishing tactics. Phishing attacks occur in the form…
4 years ago
Why Electricity Could Hypothetically be Backing Bitcoin
Digital assets came with several different methods of completing transactions. In some digital coins, users only need to stake a digital asset. Staking a higher amount gives users the highest chance of becoming validators. Other assets, such as Bitcoin, use the PoW method to handle transactions. Bitcoin's operations usually need a source of energy. Without electricity, miners cannot complete transaction processes. Blockchains also need to keep running since it is the network's main driver. As such, we take a look at…
4 years ago
Are Smart Contracts the Only DeFi Sector’s Guarantee on User Safety?
The security situation within the DeFi sector has been one of the top issues for users. Many new projects and inventions make attempts to address it a priority. These projects make several attempts to provide some slight assurance of user safety to users as a result. Among the key lines of thought is improving project anonymity. Using items like crypto tumblers may enhance the ability of masking. Another angle of improving user safety is targeting malware that carries out phishing…
4 years ago
Could Solana be a Victim of a Pump and Dump Scheme?
The Solana (SOL) token has tripled its price in less than a month as the cryptocurrency market posted staggering losses. On Tuesday, a wave of selling pressure pummeled the prices of nearly every single coin. SOL is heading to better heights as many DApps, stablecoins, and DeFi projects build platforms on the network. The token now has a market value of over $51 billion, according to CoinGecko. Solana hit the news recently as among the fastest-growing cryptos this year as it…
4 years ago
Who’s Likely to Win the Race of Launching First Bitcoin ETF in the US?
There's no doubt that Bitcoin is an excellent and highly profitable investment asset. Investors globally, especially holders, made millions recently when Bitcoin increased in prices. In fact, as the coin is currently retracing, investors are maximizing bitcoin's volatile nature. However, even though the coin is profitable, some investors do not have access to its benefits. The requirement of technical expertise and the risky nature of the coin always makes investors shy away. Some platforms have been coming up recently, including bitcoin trusts,…
4 years ago
Afghanistan Financial Crisis’ Solution Lies in Cryptocurrency, Suggests Mike Novogratz
Crypto advocates Mike Novogratz and Charles Hoskinson believe that cryptocurrencies could have eased the financial crisis in Afghanistan. After the Taliban invasion, locals and foreigners attempted to exit the country only to find their accounts under Taliban control. The situation proved that safe banking control and central governments take away financial freedom. Novogratz, in a recent investor call, warned of a foreseen wealth confiscation. He offered Bitcoin as a solution considering its decentralized nature. Charles Hoskinson also called an end…
4 years ago
Binance Exchange is in Turmoil after Payment Services Act Breach
Cryptocurrency exchange Binance is no longer operating in Singapore until further notice. Earlier on, the Monetary Authority of Singapore(MAS) placed the exchange on its investor alert list. This year, Singapore upped up implementation of the Financial Action Task Force’s standards. The well-known trading platform appeared among several exchanges in scrutiny. Binance Had No Trading License A MAS spokesperson stated that the central bank has gone through Binance.com’s operations in detail. Consequently, they established that the exchange might breach the Payment Services Act (PS Act). …
4 years ago