THE STARS! ⭐⭐⭐⭐⭐ Forget the moon…To all of you who are hating on ADA, the new Cardano Alonzo update is set for September 12. Will the Smart Contracts Make a difference in price? You better believe it. ADA has been working on smart contracts and new use cases for many months. The Cardano team has…
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Ukrainian authorities have allegedly reported that cryptocurrency exchanges are involved in illicit financial activities, including money laundering. Ukraine’s Security Service, known as SBU, has closed down various crypto exchanges reported to have transacted illegally since early 2021. The SBU, in a Wednesday statement, referred to cryptocurrency exchanges as the network of ‘clandestine’- known for their illicit transactions. They added that the clandestine cryptocurrency exchanges network was situated in Kyiv, the county’s capital. They unitedly processed a turnover of $1.1 million monthly in funds connected to criminal activity. Related Reading | Coinbase Removes USD Coin (USDC)” Backed By Dollar” Statement Many people today wish to stay anonymous online and many effective ways are out there to achieve that. Privacy experts and organizations believe that’s a fundamental right of humans. But the financial watchdogs around the world keep seeing anonymous transfers as gray payments. The Security Service of Ukraine, in an announcement, accused the illegal crypto exchanges of providing transaction services tagged anonymous. SBU added that this type of illegal service had been tagged as a money laundering risk. They also revealed that some people funneled money via these crypto exchanges across the country to arrange for a protest. The Source of Illegal Cryptocurrency Funds SBU revealed that the illegal funds emanate from electronic wallets (e-wallets) linked to the Russian banned payment process. They are many, including Yandex, Qiwi, and WebMoney. The Security Service of Ukraine, according to the reports, has recovered some computers with evidence of the suspected illegal activities. In addition, they have allegedly forged documents of incorporation for the forms during the foray of the cryptocurrency exchange platforms. The cryptocurrency market records groundbreaking growth as the altcoins set all-time highs | Source: Crypto Total Market Cap on TradingView.com The news about the crypto exchange shutdown came within the period of a raid accusing a warehouse of electricity diversion. The warehouse was said to have used the diverted electricity in mining crypto with consoles from PlayStation 4. Related Reading | Lionel Messi To Get Paid In Crypto For Joining Paris Saint Germain However, an investigation by a local business publisher Delo shows that the warehouse used the facility in generating in-game currency. They were not farming crypto with it-Delo further revealed. Meanwhile, Cointelegraph previously reported that the Parliament of Ukraine is considering issuing a new crypto bill. This bill will be proposing cryptocurrency legalization across the country. However, this legislative action is not intended to change that Bitcoin (BTC) and cryptos are not legal tenders. The Future Of Digital Currencies in Ukraine The Central Bank of Ukraine is currently handling a project on national digital currency. Since July, the National Bank of Ukraine has gotten official authorization to start issuing CBDC (central bank digital currency). In addition, there is a joint partnership between the Ministry of Digital Transformation and the Stellar Development Foundation. They are collaborating to strategize for CBDCs and digital assets jointly. However, the new crypto-related bill will allow payments in cryptocurrencies like Bitcoin (BTC) in Ukraine, even though it doesn’t qualify as a legal tender. Featured image from Pixabay, chart from TradingView.com
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Cardano (ADA) has been on a hot streak recently. The price of ADA has seen increasing growth in the market. After crashing down close to $1, the digital asset has now bounced back up to reclaim its place on the market charts. The price dips from the last two months have not seemed to have had much of an effect on the price of the digital asset, as the price has now come back up above $2 as if it had not been struggling before. Related Reading | Cardano (ADA) Records 13% Price Gains In 24 Hours, Is $2.20 Possible Again? With this new point broken for the first time in months, the next target for the asset remains the all-time high which it had hit in May before crashing back down. The $2.20 all-time high price point is close now than ever. And it is most likely that the price will hit this target in no time, given that the market maintains the current momentum and price trajectory. Good News Sending Price Barreling A wave of good news has rocked the Cardano community recently. The launch of the Alonzo Purple public testnet will be the final test phase of the project, which will end in the network finally getting smart contracts capability. The dev team announced the launch of the public testnet on Twitter. Explaining that the testers from the previous Alonzo White and Blue testnets will be used to carry out the testings. Along with interested developers who will be granted access to the network. Related Reading | Cardano (ADA) Receives Approval To Be Listed In Japan Cardano (ADA) has recently also gotten approval to be listed on exchanges in Japan. Arguably one of the hardest approvals to receive for a crypto project in the market. This put the digital asset on track to be one of the most valuable cryptocurrencies in the market. Opening up the token to a market of over 100 million people who had previously been unable to access the coin. As the network approaches complete integration for smart contracts, the community has maintained its faith in the asset. Hold sentiments abound across investors communities. Leading to less sell pressure and more buy pressure. Which the current price surge in the asset can be attributed to. Cardano (ADA) Price Continues To Outperform The price of ADA in the past 24 hours has been incredibly interesting to watch. Moving along with the rest of the market in the bull rally, the price looks to be breaking higher than the other cryptocurrencies in the market. ADA price barreling up towards all-time high | Source: ADAUSD on TradingView.com 24-hour price analysis shows that the asset has recorded a 14.77% change in price in the last 24 hours as at the writing of this article. Leading to massive gains in the price. Finally pushing the asset price over the $2 resistance point. Cardano (ADA) is not trading above $2, with indicators pointing that $2 might be the new landing point for the asset on its way towards a new all-time high. A $0.20 increase from here on out will set a new record for the price of the asset. And as each hour passes with the price continuing to show bullish indicators, a new all-time will most likely be broken by the close of the weekend. Featured image from BeInCrypto, chart from TradingView.com
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The United States is facing severe inflation despite the Federal Reserve and mainstream media doubling down on saying the loss of purchasing power is just “transitory.” This week consumer and producer metrics from July have been published by the U.S. Bureau of Labor Statistics and inflation is growing stronger. July CPI Stats Show a Jump […]
