Author: dfmines

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The company said that they intend for these pools to increase liquidity on hard-pegged assets.

The total value of the cryptoasset market has once again risen above $2 trillion, as altcoins including Cardano and XRP race to reclaim all-time highs. This bullish price action comes in defiance of negative headlines. The Senate passed the infrastructure bill on Tuesday without changing the requirements for crypto tax reporting, and on the same day $611 million was stolen in the largest DeFi hack in history (though the culprit has since returned the funds). Nevertheless, traders were not concerned, and multiple altcoins are now flashing high double-digit weekly gains. Beating the 3% increases of Bitcoin and Ethereum, XRP jumped almost 60% after forming a new partnership, closely followed by Cardano and Ethereum Classic with almost 50% gains, and Dogecoin which leaped 33% as Mark Cuban tweeted support for the memecoin. This Week’s Highlights Cardano climbs 45% ahead of major upgrade S. infrastructure bill passes Senate Cardano climbs 45% ahead of major upgrade Ethereum competitor Cardano topped $2 last week as the developers scheduled a highly-anticipated upgrade. Cardano project lead Nigel Hemsley announced a September 12 release date for the planned “Alonzo” upgrade. This would disarm critics by bringing long-awaited smart contract functionality to the network, potentially allowing Cardano to claim its own slice of the DeFi pie and capitalize on the NFT mania currently sweeping over the crypto market. Elsewhere in the proof-of-stake ecosystem, rival network Polygon (formerly Matic Network) jumped 30% after acquiring Ethereum scaling solution Hermez Network. U.S. infrastructure bill passes senate While the battle may have been lost as U.S. senators failed to amend onerous tax reporting rules in the infrastructure bill, the market appears to be expecting that crypto will eventually win the war. Prices continued to rise this week, despite the bill passing the Senate on Tuesday. Commentators suggest this could be because the event is being seen as a coming-of-age moment for the crypto industry, which is long-term bullish. In his recap of the infrastructure bill, Compound lawyer Jake Chervinsky said that “ultimately we will look back on this as one of the most positive events, holistically speaking, that we’ve had so far in terms of the industry’s interactions with the government.” Week ahead As buyers push prices upwards, all-time highs are appearing on the short-term horizon for several of the top cryptoassets. In the week ahead, Bitcoin faces resistance at $48K. How the leading cryptoasset reacts at this level could determine if the rally of recent weeks is just a temporary “dead cat bounce“, or a continuation of the bull market. According to data from Glassnode, Bitcoin is flowing out of exchanges at similar levels to the beginning of the year, suggesting traders could be accumulating funds in anticipation of another rally higher. Image by Buffik from Pixabay

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The price of the axie infinity tokens otherwise known as “shards,” has continued to skyrocket in value capturing fresh new price highs. The asset is changing hands for 10% lower than the all-time high (ATH) captured five days ago reaching $75.73 per unit. Axie infinity’s market valuation has also pushed itself into the top 50 […]

Here is a list of some of the most prominent companies and usecases that is taking place on Tezos. ​ FutureSense: Tech company building decentralized identity solutions on Tezos, as well as token based data marketplaces. Geared towards the Korean National Police Agency (NIA). FutureSense has connections to Microsoft, Amazon and also Ethereum. https://futuresense.dev/ Gravity:…
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Emmy award winner satirical show “Last Week Tonight With John Oliver” released a segment on ransomware attacks in the U.S. and their alleged main financial enablers, cryptocurrencies Bitcoin (BTC) and Monero (XMR). This criminal activity has been on the rise in the U.S. and has been caused by concerns from authorities and the public. The segment begins with a review of some of the most important ransomware attacks recently perpetrated by hackers groups allegedly based in Russia and other safe-haven countries.  Attributed to hacker group REvil and The DarkSide, these bad actors supposedly took over the company Colonial Pipeline. Responsible for overseen 45% of the U.S. east coast fuel, hackers took over the main computers and demanded to be paid in Bitcoin. This droved many inhabitants of the regions to chaos, attracting more attention to an issue already affecting everyday citizens, the report by Last Week Tonight presented several examples. Data presented by the show claimed that revenues from ransomware attacks paid in Bitcoin, Monero, and other cryptocurrencies have “quadruple” during 2020. This metric stood at $350 million, according to “undercount” estimates, at that time. These types of attacks have been gaining traction due to platforms that offer “ransomware as a service”, making it easy for anyone to acquire malware and used it for these purposes. In addition, the segment claimed that Bitcoin, Monero, and cryptocurrencies have (…) Made it much easier to make money from ransomware and much more difficult for law enforcement to recover payment. If ransoms were paid in wire transfers, companies could find a way to claw that money back, but with cryptocurrencies is nearly impossible to undo. The Reply From The Monero Community Later, the show’s host presented a “Monero ad” implying that the cryptocurrency sponsors its use for criminal activities. The funds in XMR can be exchanged with the approval of the safe-haven states that support the hackers and “look the other way so long as they do their work outside of their borders”. A member of the Monero community Justin Ehrenhofer had an exchange via e-mail with the production team behind Last Week Tonight. Ehrenhofer clarifies that both Bitcoin and Monero are decentralized projects without “an official company or foundation”. In addition, Ehrenhofer highlighted the importance of Monero as a tool to preserve people’s right to transact with “digital cash”, a tool that preserves their privacy. Comparing BTC and XMR, the community told Last Week Tonight that the latter is much more efficient at protecting a user’s identity. For reference, here is the email exchange between Last Week Tonight @LastWeekTonight and me on Thursday/Friday regarding Monero #monero #xmr: pic.twitter.com/QFp3AQLr59 — Justin Ehrenhofer 🏳️‍🌈 (@JEhrenhofer) August 16, 2021 The Monero project celebrated Last Week Tonight’s segment via its Twitter handle. Despite the tone and approach taken by the show, it’s a platform with an international reach capable of introducing others to XMR and its privacy capabilities. The message said: Thanks for prominently featuring Monero Last Week Tonight! Monero is an important financial tool that fights back against financial discrimination. Money should be private and fungible, and Monero’s volunteer community fights to keep it that way. As NewsBTC previously reported, former Central Intelligence Agency (CIA) acting director Michael Morell published a report proving that cryptocurrencies are much less used for illicit transactions than fiat currencies. Data provided by Morell found that less than 0.5% of BTC trading volume is attributed to illicit activities. At the time of writing, XMR trades at $268 with a 1.25% loss in the daily chart.