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Category: TRENDING

  • Haven Protocol (XHV) shows strong signs of bottoming out after crashing 90%

    Haven Protocol (XHV) shows strong signs of bottoming out after crashing 90%

    Haven Protocol (XHV) showed signs of returning to its bullish form as its price doubled in just five days of trading.

    What’s pumping Haven Protocol?

    XHV’s price surged by up to 107% week-to-date to climb above $3.60 on March 11, its highest level in more than three months. Interestingly, the move upside followed a period of aggressive selloffs that saw XHV’s value dropping from nearly $20 in November 2021 to as low as $1.60 in early February 2022 — an approximately 90% decline.

    XHV/USD weekly price chart. Source: TradingView

    Traders started returning to the Haven Protocol market against the prospects of two macroeconomic scenarios: U.S. President Joe Biden’s executive order that focuses on cryptocurrencies and hardline western sanctions on Russian oligarchs amid an escalating military standoff between Ukraine and Russia.

    In the order titled “Ensuring Responsible Development of Digital Assets,” President Biden directed federal agencies to submit reports on cryptocurrencies and consider introducing new regulations for the sector.

    Meanwhile, western powers decided to cut Russia out of the Swift global banking system while imposing targeted sanctions on some of the country’s wealthiest individuals.

    Crypto investors priced in the effects of these two updates, deciding to bid up the prices of privacy-enabled digital assets that promise to secure financial transactions from regulatory watchdogs.

    As a result, Monero (XMR), Kyber Network (KNC), Tornado Cash (TORN) and other privacy coins outperformed the crypto market massively this week.

    Haven Protocol, a fork of the Monero blockchain that promotes itself as an “offshore bank,” appears to have rallied on similar sentiment. 

    Fractal suggests more gains for XHV

    The recent bout of buying in the Haven Protocol market may have also emerged owing to a multi-month technical support level.

    Related: FBI director: Russia overestimates its ability to bypass US sanctions using crypto

    XHV’s price rebounded after failing to close below its descending channel support on multiple attempts, as shown in the chart below.

    Notably, the token’s last 90% drop towards the same price floor in 2021 led to a sharp upside retracement from around $2.50 in June to around $20 in November.

    XHV/USD weekly price chart featuring descending channel. Source: TradingView

    XHV’s price hints at undergoing a similar, extended upside recovery after its latest bounce. In doing so, the Haven Protocol token might retest the resistance trendline of its descending channel setup — around $10.

    Conversely, a pullback risk declines below XHV’s previous support lines inside the $1.00–1.50 range.

    The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

  • We Can Vote Away Your Money for Free: The Implications of Juno Prop 16

    We Can Vote Away Your Money for Free: The Implications of Juno Prop 16

    Instead, it shows that blockchains, too, involve social as well as technical consensus. The airdrop Sybil attacker, after all, didn’t break any obvious government laws; he or she just abused an open system so badly that other users had to take action to defend it. For some, this response will be seen as an upside and even an evolutionary path – a significant step, in particular, toward decentralized autonomous organizations (DAOs) that have real enforcement power and are willing to flex it.

  • Now You Can Try ‘Teleporting’ Bitcoin for Greater Privacy With CoinSwaps

    Now You Can Try ‘Teleporting’ Bitcoin for Greater Privacy With CoinSwaps

    “Imagine a future where a user, Alice, has bitcoins and wants to send them with maximal privacy, so she creates a special kind of transaction. For anyone looking at the blockchain her transaction appears completely normal with her coins seemingly going from address A to address B. But in reality her coins end up in address Z, which is entirely unconnected to either A or B,” Belcher writes. In a sense, the transaction is being “teleported” elsewhere, hence the project’s name “Teleport.”

  • After ‘Doxxing’ Fracas, Bored Apes Team Starts Asking for Customer ID

    After ‘Doxxing’ Fracas, Bored Apes Team Starts Asking for Customer ID

    Clicking the “register” button will direct you to another site called Blockpass, which runs identity verification processes for crypto services. Here, you’ll need to provide your passport, your national ID or your driver’s license, along with proof of residence. There’s also a list of banned countries: If you live in China, Russia, Cuba, Iran or any of 28 other blacklisted nations, you’re out of luck.

  • Russians Looking to the UAE to Unload Billions in Crypto Assets: Report

    Russians Looking to the UAE to Unload Billions in Crypto Assets: Report

    “We have one guy – I don’t know who he is, but he came through a broker – and they’re like, ‘We want to sell 125,000 bitcoin.’ And I’m like, ‘What? That’s $6 billion, guys.’ And they’re like, ‘Yeah, we’re going to send it to a company in Australia.’”

  • White House, G7 Say New Guidance Is Coming on Crypto Sanctions Evasion

    White House, G7 Say New Guidance Is Coming on Crypto Sanctions Evasion

    “It’s hard” to move billions of dollars worth of crypto, Redbord noted. It’s possible some oligarchs might turn to crypto, but that may not be their first choice. Redbord, who was with the U.S. Treasury Department prior to joining TRM, said crypto could be part of the sanctions-evasion playbook, but oligarchs already have a complex set of tools they might turn to first to preserve their wealth, including the use of shell companies and purchasing high-end art.

  • White House, G7 Announce New Guidance Is Coming on Crypto Sanctions Evasion

    White House, G7 Announce New Guidance Is Coming on Crypto Sanctions Evasion

    “It’s hard” to move billions of dollars worth of crypto, Redbord noted. It’s possible some oligarchs might turn to crypto, but that may not be their first choice. Redbord, who was with the U.S. Treasury Department prior to joining TRM, said crypto could be part of the sanctions-evasion playbook, but oligarchs already have a complex set of tools they might turn to first to preserve their wealth, including the use of shell companies and purchasing high end art.

  • Elizabeth Warren and the Mysticism of the Crypto-Skeptics

    Elizabeth Warren and the Mysticism of the Crypto-Skeptics

    It is convenient, if inevitably reductive, to describe the arc from superstition to reason in terms of two individual thinkers. On the one hand, we have Plato, whose Theory of Forms argued that every actually existing object in the world was just a pale echo of some pure Type that existed far away, in the unseen heavens. That idealism broadly mirrored the prehistoric transition from animistic or shamanistic religions to theistic belief systems like Christianity and Islam, which installed a “higher truth” invisible to lived experience.

  • Ukraine Details What Crypto Donations Are Being Spent On

    Ukraine Details What Crypto Donations Are Being Spent On

    Ukraine has revealed how it has been spending the crypto donations sent to support its resistance against Russia’s invasion. Alex Bornyakov, Ukraine’s deputy minister in the Ministry of Digital Transformation and the de facto crypto spokesperson for the government, shared the details in a tweet on Friday.

  • Fed’s Powell Set to Remove Punch Bowl That Lubricated Crypto Party

    Fed’s Powell Set to Remove Punch Bowl That Lubricated Crypto Party

    “Our assumption is that the updraft in commodity prices will diminish into mid-year, and base effects will finally allow an emerging downtrend in the year-over-year inflation metrics,” Englund told CoinDesk in an email. “This should diminish pressure on the Fed to address inflation, and should allow for quarter-point hikes at just every other meeting, leaving five hikes for 2022 overall (in March, May, June, September and December).”