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Faced with cash shortages caused by the central bank’s currency policies, traders in the Nigerian state of Benue have reportedly resorted to barter trading. Traders from the state have implored the Nigerian government to consider rescinding the Central Bank of Nigeria’s naira redesign policy. The Nigerian Supreme Court has said it will pass its judgment on a suit challenging the naira redesign policy on March 3. Barter Trade Helping Businesses Stay Afloat The cash shortages sparked by the Central Bank of Nigeria (CBN)’s so-called naira redesign policy have seen traders in the Nigerian state of Benue resort to barter, a local report has said. The report added that some traders, especially those without bank accounts, began accepting payment in the form of goods or produce shortly after the passage of the old naira demonetization deadline. As previously reported by Bitcoin.com News, the CBN’s botched attempt to replace old naira banknotes with newly designed ones has sparke...

Join Our Telegram channel to stay up to date on breaking news coverage The MakerDAO community has turned down Cogent bank’s proposal to borrow $100 million from the platform. According to the decentralized lending platform, the protocol’s governance site indicated that 72.88% of the voters rejected the plan on Monday. MakerDAO is a decentralized autonomous platform that manages the lending firm Maker via votes and proposals. Notably, Maker enables the generation of DAI, the world’s first unbiased currency and leading decentralized stablecoin. It issues the $5 billion stablecoin DAI, backing its value by collateralized digital assets from borrowers. DAI is pegged to the US Dollar, which is essential when crypto financers want to exchange more volatile crypto for a relative stablecoin. The protocol allows individuals to take out loans in DAI using other cryptocurrencies as collateral. However, these loans are overcollateralized, meaning that one will have more c...

A tokenized version of the digital real, the Brazilian central bank digital currency (CBDC), has passed a public blockchain pilot test successfully. The test, which was carried out by Mercado Bitcoin, a local exchange, using the Stellar network, shows that the digital real token can be used in public blockchains following all compliance rules set by Brazilian laws. Digital Real Completes Stellar Blockchain Test The digital real project, a Brazilian initiative for building a central bank digital currency, is advancing toward its possible issuance. Mercado Bitcoin, a local exchange, informed that a series of pilot tests designed to examine the interconnection of a tokenized version of the digital real, was conducted successfully. The tests used the Stellar blockchain as a public blockchain, and included all of the steps that a regular user would have to conduct for the use of a tokenized, on-chain version of the digital real, and included traceability, know your customer and antifraud...

Join Our Telegram channel to stay up to date on breaking news coverage Investing in crypto during its presale phase has huge advantages and is a best way for investors to learn about exciting projects before they launch. The best crypto pre sales to invest in for 2023 will be covered in this article, to help investors learn which crypto are worth purchasing during a presale to maximize their returns in the future. The full best crypto pre sales review in the video above, follow his YouTube channel for more crypto related contents. C+Charge C+Charge will open the carbon credit market with blockchain technology. Electric vehicle sales have grown significantly in recent years, but some problem remains. C+Charge is using blockchain and carbon credits to solve these issues and transform the EVs industry. C+ Charge simplifies carbon credits so people can buy electric vehicles, their decentralized peer-to-peer payment system eliminates fluctuating prices and hidden fees. C+Char...

On Friday, the cryptocurrency firm and stablecoin issuer Circle announced that the financial institution Citizens Trust Bank will hold $65 million in usd coin cash reserves. Circle said the move is part of the company’s plan to allocate shares of the stablecoin’s denominated reserves to minority-owned depository institutions (MDIs) and community banks across the United States. Circle Partners With Atlanta-Based Citizens Trust Bank The digital currency firm Circle has announced that Atlanta-based Citizens Trust Bank, founded in 1947, will hold $65 million in usd coin (USDC) reserves. This move follows a series of announcements where Circle allocated funds to various U.S.-based financial institutions over the past year. For example, Circle stated on April 1, 2022, that BNY Mellon would hold USDC reserves, and in June, the Boston-based company announced that New York Community Bancorp would hold USDC reserves. Additionally, Circle announced last November that it is working with Bl...

Fetch.ai Partners with Bosch to Form a Foundation to Promote Industrial Applications Using Web3 Technology. The Fetch.ai Foundation aims to research, develop and harness Web3 technology for real-world use cases that will span across mobility, industrial, and consumer domains. Fetch.ai Foundation will be anchored in the core tenets of transparency, openness, neutrality, and data and technology sovereignty. Furthermore, The Foundation will have a three-tier governance structure as outlined in the Foundation’s articles and by-laws. The Foundation’s design is inspired by the Linux Foundation which has shown how decentralized innovation can be achieved at scale while embracing open-source technologies and ecosystems. An important design goal for the foundation is to achieve technology pooling such that it can survive independently of the individual foundation participant’s engagement, while also providing influence and clout to those who contribute and depend on the viability of its ec...

The network, known as Base, is designed to be a low-cost, secure, and developer-friendly environment that Coinbase said will serve as a bridge to bring users into the crypto economy. On Feb 23, crypto exchange Coinbase announced the launch of Base — an Ethereum Layer 2 (L2) network . The company claimed this new network will offer a low-cost, secure, and developer-friendly environment for building decentralize d apps (dApps) on the blockchain. According to Coinbase, Base is designed to be a bridge for users into the crypto economy, offering access to other L1 ecosystems like Solana and making it interoperable with other chains. It will also provide access to Coinbase's products, users, and tools, as well as easy fiat onramps and powerful acquisition tools. The company plans to progressively decentralize the chain over time, and has no plans to issue a new network token. This is a developing story, and will be updated as more information becomes available. Source: https://t...

Join Our Telegram channel to stay up to date on breaking news coverage UNUS SED LEO (LEO) is trading at the $3 price level in 2023 . It last traded at $4.21 on November 27, 2022. However, it attained its all-time high value of $8.04 on February 8, 2022. Here is a detailed long- and short-term price Analysis for the token and its price action. LEO Price Action And Technical Analysis LEO traded on May 21, 2019, at $1.04 and recorded a gradual increase till it peaked at $8.04 on February 8, 2022, its all-time high value. Since then, there have been fluctuations in the asset’s price as it declined later in 2022 during the bear market. It traded at $3.52 on January 1, 2023, and has stayed within that price range. Also, LEO broke above the $4 resistance level in 2023 despite some price fluctuations. Here is how it looks on the daily price chart. Source: Tradingview.com LEO is trading in a sideways trend on the price chart today. It has remained in this trend since February ...

VeChain’s Crypto Wallet — VeWorld! The year 2023 is proving to be an exciting year for the VeChain Foundation. They have many tech developments in the pipeline. It includes a near-term deployment of some ground-breaking tools that promise to lower barriers to entry and elevate the VeChainThor ecosystem even further. VeChain’s mission has always been ‘taking the blockchain out of blockchain’. The newest addition to its tech suite is no exception. The first step on any blockchain journey begins with a wallet and they have been toiling away to deliver one of the best in the industry. Introducing VeWorld VeWorld is the Foundation’s new fully decentralized self-custody wallet. Aptly named due to its role as the gateway to the world of VeChain. This new wallet introduces many quality-of-life upgrades for the VeChain ecosystem, with an extensive roadmap of Features in the pipeline. VeWorld initially launches as a web wallet and will be iteratively upgraded on a bi-weekly cadence by a de...

Join Our Telegram channel to stay up to date on breaking news coverage What – A recent report states that the success rate of cryptocurrency transactions depends heavily on the user’s location. Why – It depends not only on users’ information and verification, such as the Know Your Customer (KYC) process. What Next – This observation emerged in a new crypto-based financial service provider report , Cointelegraph Research & Onramper. This report by the crypto giant revealed that half (50%) of the fiat digital currency transactions failed after completing the KYC verification. Crypto Transaction Success Rate Tied To User Location Cointelegraph surveyed some crypto exchanges, including MoonPay, Coinify, Wyre, Transak, etc., to trace the issue. The investigation revealed that the performances of the exchange are not the same. According to the report, the transaction failure has led to about 90% abandonment of crypto dealings.  The data...

Cardano’s (ADA) new stablecoin is powered by the decentralized finance (DeFi) system, which claims to have successfully upgraded its network. The scalable layer-1 powering ADA’s impending Djed stablecoin, COTI Network, claims in a new blog post that the update transformed the blockchain into a multi-token network that now facilitates the development of private payment networks. “The launch of the MultiDAG 2.0 protocol heralds the full transition of COTI from a single currency infrastructure to a multi-token network… We believe COTI is uniquely positioned to serve enterprises, enabling them to launch their own Private Payment Network (PPN) which includes the issuance of CMD [COTI MultiDAG] branded payment tokens, issuance of CMD branded loyalty tokens, and more.” Additionally, COTI is announcing a change to its user costs. The business claims that its deposit charge would be cut in half, its withdrawal fee will become dynamic rather than fixed, and ...

One of the most well-known crypto analysts thinks that the decentralized finance (DeFi) altcoin Curve (CRV) is about to make a huge jump. Pseudonymous analyst Credible tells his 336,900 Twitter followers that the governance token of decentralized exchange Curve Finance is now in the middle of a wave three surge that could bring the altcoin as much as 1,092% in gains. “CRV with a nice break of our $1 level. We are on our way.” Source: Credible/Twitter Credible employs Elliott Wave theory, sort of technical Analysis that predicts price movements by studying market players’ emotions in waves. The theory says that a bullish asset has a five-wave uptrend, with wave three being the strongest. By looking at Credible’s chart, he thinks the wave three rallies could push CRV as high as $13. On the weekly chart, CRV’s relative strength indicator, which measures momentum, has never been overbought. It is suggesting that the coin’s ...

The cryptocurrency industry has been longing for a bull market. While the current state of Bitcoin [BTC] is hinting towards one at the moment, the community isn’t entirely convinced. Amidst this debacle, Gemini’s Cameron Winklevoss highlighted the catalyst for the upcoming bull market. In a recent Twitter thread, Winklevoss pointed out that Asia will prompt the next bull run. He said, “My working thesis atm is that the next bull run is going to start in the East.” It should be noted that this was expressed in light of the United States’ lack of clarity around cryptocurrency . According to the Gemini co-founder, he believes that not just the U.S. but any government that fails to formulate “clear rules and sincere guidance will be left in the dust.” He tweeted, And it will mean missing out on shaping and being a foundational part of the future financial infrastructure of this world (and beyond). — Cameron Winklevoss (@cameron) F...

Caitlin Long, CEO of crypto bank Custodia, criticized the U.S. government for its handling of a massive crypto fraud that occurred months before the company’s collapse. She made her remarks in a blog post after disclosing evidence to law enforcement. Long’s post followed Custodia’s unsuccessful application to become a member of the Federal Reserve System, which was denied by the Federal Reserve Board. CEO of Custodia Criticizes U.S. Government for ‘Shooting a Messenger Who Warned of Crypto Debacle’ Executives of digital currency and blockchain companies are displeased with the U.S. government’s crackdowns and lack of regulatory clarity. Brian Armstrong, CEO of Coinbase, has called on Congress to pass clear legislation on cryptocurrencies, and Jesse Powell, CEO of Kraken, has echoed that message. On Feb. 17, Caitlin Long, CEO of Custodia, published a blog post explaining that she had given evidence to authorities about a crypto fraud case months before the compa...

Bitcoin fell below the $25,000 mark on Friday, as markets moved into consolidation, following recent gains. Prices fell by almost $1,700 in the last 24 hours, with the global cryptocurrency market cap down 1.89% as of writing. Ethereum also dropped, after breaking into the $1,700 level on Thursday. Bitcoin Bitcoin (BTC) fell sharply below a high above $25,000 on Friday, as crypto markets moved into consolidation. BTC/USD dropped to an intraday low of $23,460.76 during today’s session, which comes a day after hitting a high of $25,134.12. The sell-off seems to have occurred as a result of bitcoin bulls being unable to maintain a breakout of a ceiling at $24,200. BTC/USD – Daily Chart Looking at the chart, the 14-day relative strength index (RSI) also moved back below its own resistance level at 65.00. As of writing, price strength is currently at a reading of 61.89, which isn’t too far off from a support of 59.00. BTC has already begun to rebound from its ear...