Crisis-Torn Venezuelans Opt For Dash and Bitcoin
The worsening economic situation in Venezuela which has courted a triple-digit inflation, food, riots, and citizens crossing into Colombia to buy basic necessities seems to favour digital currencies. Bitcoin’s all-time high. According to LocalBitcoins, Bitcoin trading volume in the country hit another all-time high last week of 163,732,154 Bolivars - approximately $16,455,908 according to the official VEF/USD exchange rate of 0.1 - more than double the LocalBitcoin's volume in the USA for the same week, which stood at $7,015,712. Services like Western Union and Moneygram closed operations....
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Cryptobuyer, a Venezuelan cryptocurrency brokerage has announced support for Dash, which sees the digital currency joining bitcoin on Cryptobuyer’s platform. Caracas-based cryptocurrency brokerage and firm Cryptobuyer has added Dash to its platform, citing “soaring demand” of the cryptocurrency. Dash, currently the 8th largest cryptocurrency in the world by market capitalization, joins bitcoin as digital currencies that Venezuelans can now use for remittance, cell phone top-ups, recharging debit cards and more, through a compliant exchange. Venezuela is in the throes of hyper-inflation at....
The president of Venezuela, Nicolas Maduro, approved a minimum wage raise increase last week that took it to three dollars monthly, a very low income for the citizens of the country that are facing a strong economic crisis since 2013. However, the crypto environment has been growing, and now Venezuelans are flocking to exchanges like Binance and Localbitcoins, platforms that are now serving thousands of Venezuelan users monthly with their peer-to-peer offerings destined to preserve the value of their money. Venezuela’s Minimum Wage Raised to $3 Monthly Earlier this week. Nicolas....
Venezuela is in economic turmoil, shaking the country to its core. Venezuelan digital asset brokerage Cryptobuyer believes the country’s situation warrants a broadening in currency options for citizens. To cater to this perceived need, the firm enables Venezuelans to purchase bitcoin — and recently Dash. Cryptobuyer Offers Bitcoin & Dash to....
Amid the crackdown against Tornado Cash, associated addresses, contributing developers, and anyone who uses the mixing platform, the project’s governance token called TORN has shuddered in value. TORN is an ERC20 with a fixed supply that is leveraged for governance proposals and voting. During the last seven days, the Tornado Cash governance token has lost 57.6% in value against the U.S. dollar. Tornado Cash Token Loses More Than Half of Its Value This Week It seems that everything Tornado Cash touched is tainted and during the last week, the project’s governance token....
TORN is near a historically strong support range, eyeing a 75% rebound by September 2022. Tornado Cash (TORN) has lost almost half its market valuation two days after being slapped with sanctions by the U.S. Treasury Department.The department accused Tornado Cash, a crypto mixer platform, of laundering more than $7 billion in cryptocurrencies, including a stash of $455 million allegedly stolen by North Korea-based hackers.Immediate reactions were followed by U.S.-based crypto companies, including Circle and Coinbase. In a controversial move, the popular crypto firms blocked the movements....