BTC price cracks $41K as hopes of peace in Eastern Europe send Bitcoin higher
Bitcoin rises with Asian stocks, while $41,000 resistance gets decisive after a brief but failed breakout overnight. Bitcoin (BTC) returned above $41,000 prior to the Wall Street open on March 16 as good news from Asia and Russia buoyed stocks.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewBTC on track to close week higherData from Cointelegraph Markets Pro and TradingView showed BTC/USD maintaining $41,000 as a focus after the Chinese government promised fresh economic support.Beijing announced the move following weeks of tumultuous action on Chinese markets, with tech stocks....
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On Thursday 24th of February, 2022, Russia invaded Ukraine. War had broken out in Eastern Europe. Although we’re not here to comment on the political situation in Ukraine and beyond, we can observe one fact: Ukraine’s government turned to crypto in trying times. The crypto community responded. In the first 5 days of its inception, Unchain Fund, a crypto charity fund for Ukraine founded by prominent figures in blockchain, raised more than $1.8m. They’ve since gone on to raise millions more. Now, this is perhaps the highlight of crypto’s strength in Eastern Europe throughout 2022, but in....
Of all funds sent to illicit cryptocurrency addresses from Eastern Europe, scams attract the greatest amount, according to a new report. In the past year alone, crypto addresses based in the region have sent the fraudulent schemes a staggering $815 million in crypto.
Eastern Europe Leads by Volume of Illicit Crypto Transactions
Among the world’s regions with a total crypto transaction volume of at least $400 million, Eastern Europe is the only one where illicit activity exceeds 0.5% of the total value sent and received, Chainalysis notes in a preview of its 2021....
Scams make up the largest share of funds sent from Eastern Europe to illicit addresses. Recent research has revealed that Eastern Europe remains a very high source of cybercrime activity — both from victims to scams, and from users to darknet markets — in the cryptocurrency sector.Cryptocurrency addresses based in the Eastern European region have the second-highest exposure to illicit activity after Africa, according to a report published on Sept. 1 by blockchain research firm Chainalysis. However Eastern Europe has a much larger overall crypto economy than both Africa and Latin America....
Through an integration of the European payment network, WoraPay, users of the London-based Bitcoin mobile wallet SpectroCoin now can spend bitcoin at numerous Eastern European merchants. Paying merchants with bitcoin is done indirectly, however. Users' fund their WoraPay accounts with bitcoin sent from their SpectroCoin wallets, and then pay the merchant with euros through their phone. Though WoraPay has its own mobile wallet, the company also opened its payment network to third-party wallets. This gives other mobile wallets access to a growing number of merchants across Europe that accept....
Swedish bitcoin exchange Safello is making the push to establish itself as Europe's leading bitcoin exchange with direct payments now available from 86 European banks in 11 countries. Safello is using the instant SOFORT payment system, meaning there will be no need to wait for an international bank transfer to be cleared into the company's accounts. "The only way many people were able to buy bitcoin before was via an international bank transfer. But now they can simply do an immediate payment," Ludvig Öberg, Vice President of Product Development told CoinDesk. "As soon as we get your....