Cryptocurrency
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The total crypto market volume over the last 24 hours is $239.35B, which makes a 14.14% increase. The total volume in DeFi is currently $11.59B, 4.84% of the total crypto market 24-hour volume. The volume of all stable coins is now $216.31B, which is 90.37% of the total crypto market 24-hour volume.
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“I’ve always been deeply opposed to crypto, bitcoin, etc,” said Dimon in response to a question from Massachusetts Senator Elizabeth Warren at a Senate hearing on Wednesday. “You pointed out the only true use case for it is criminals, drug traffickers, money launderers, tax avoidance . . . If I was the government, I’d close it down,” he added.
Last month, Trump went on a crypto charm offensive during a Silicon Valley fundraiser hosted by investors David Sacks and Chamath Palihapitiya last month, it was reported by Reuters. “He said he would be the crypto president,” Trevor Traina, a San Francisco-based tech executive and former Trump ambassador to Austria, was quoted by the newswire.
JPMorgan as an institution was taking big strides in incorporating blockchain technology into the realm of traditional finance. It experimented with its own dollar-backed digital coin akin to a stablecoin called JPM Coin for payments between clients, CNBC reported in February 2019.
“If I throw it aside, it’s going to be picked up in another country, most likely China—they’re pretty advanced in that sphere,” Trump said. “It’s a baby. It’s an infant right now. But I don’t want to be responsible for allowing another country to take over this sphere.”
“When it comes to banking policy, I am not usually holding hands with the CEOs of multibillion-dollar banks, but this is a matter of national security. Terrorists, drug traffickers and rogue nations should be barred from using crypto for their dangerous activities. It is time for Congress to act,” Warren said.
Best cryptocurrency
The first chain to launch smart contracts was Ethereum. A smart contract enables multiple scripts to engage with each other using clearly defined rules, to execute on tasks which can become a coded form of a contract. They have revolutionized the digital asset space because they have enabled decentralized exchanges, decentralized finance, ICOs, IDOs and much more. A huge proportion of the value created and stored in cryptocurrency is enabled by smart contracts.
The total crypto market volume over the last 24 hours is $239.35B, which makes a 14.14% increase. The total volume in DeFi is currently $11.59B, 4.84% of the total crypto market 24-hour volume. The volume of all stable coins is now $216.31B, which is 90.37% of the total crypto market 24-hour volume.
Solana, which started in 2020, is a Blockchain platform on its own and has a native cryptocurrency with the same name. Solana is often used for smart contracts and now non-fungible tokens (NFTs). Its closest rival is said to be Ethereum, with many of the same features.
Tether’s price is tied directly to the U.S. dollar because the developers claim to hold one U.S. dollar (or an equivalent) for every circulating USDT. This system allows users to more easily make transfers from other cryptocurrencies back to U.S. dollars in a more timely manner than actually converting to standard currency.