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Top 6 Trending Coins on the Huobi Global Exchange

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Top 6 Trending Coins on the Huobi Global Exchange
  • Ethereum invented the blockchain smart contract idea.
  • Dogecoin’s proof-of-work mechanism varies from Bitcoin’s in various areas.

Huobi is one of the major cryptocurrency exchanges situated in Asia, operating since 2013. It has rebranded itself as Huobi Global, a global crypto exchange that supports a broad range of altcoins and stablecoins. Let us take a look at the top 6 trending coins on the exchange.

Bitcoin (BTC)

It has established a worldwide community of millions of fans that develop, invest, trade, and utilize Bitcoin and other cryptocurrencies daily. The birth of the first cryptocurrency paved the way for hundreds of more competitors.

According to CoinMarketCap, the price of BTC at the time of writing is $62,151.76, with a 24-hour trading volume of $32,119,630,724. BTC ranks in the first position on top trending tokens on Huobi Global.

Ethereum (ETH)

Ethereum invented the blockchain smart contract idea. Smart contracts are computer programs that automatically perform steps required to fulfill an online agreement. A trusted intermediary between contractors is eliminated, lowering transaction costs while enhancing transaction dependability.

According to CoinMarketCap, the price of ETH at the time of writing is $4,159.80, with a 24-hour trading volume of $15,234,256,867. ETH ranks in the second position on top trending tokens on Huobi Global.

Dogecoin (DOGE)

Dogecoin’s proof-of-work mechanism varies from Bitcoin’s in various areas, including employing Scrypt. The cryptocurrency has a block period of 1 minute and an unbounded supply, meaning it may be mined indefinitely. You may mine Dogecoin alone or in a mining pool.

According to CoinMarketCap, the price of DOGE at the time of writing is $0.2647 with a 24-hour trading volume of $2,716,982,041. DOGE ranks in the third position on top trending tokens on Huobi Global.

Shiba Inu (SHIB)

The SHIBA INU encourages dog-inspired artists from across the globe to join their SHIBA INU community in the NFT market. SHIBA INU has also set up an Amazon Smile campaign to raise the Shiba Inu Rescue Association funds.

According to CoinMarketCap, the price of SHIB at the time of writing is $0.00004601 with a 24-hour trading volume of $9,994,981,302. SHIB ranks in the fourth position on top trending tokens on Huobi Global.

Solana (SOL)

Solana, known for its blockchains lightning-fast processing rates in the crypto world. Solana’s hybrid protocol reduces transaction and smart contract validation times. Solana’s lightning-fast processing speeds have also piqued institutional attention.

According to CoinMarketCap, the price of SOL at the time of writing is $204.67, with a 24-hour trading volume of $3,602,956,540. SOL ranks in the fifth position on top trending tokens on Huobi Global.

Tron (TRX)  

TRON wants to be a place where content producers may directly engage with their consumers. By removing centralized platforms like streaming services, app stores, and music sites, producers hope to save money on intermediaries. As a result, customers may pay less for content. Given its rising digitization, TRON may have a good start in using blockchain technology in the entertainment business.

According to CoinMarketCap, the price of TRX at the time of writing is $0.1026 with a 24-hour trading volume of $2,841,493,807. TRX ranks in the sixth position on top trending tokens on Huobi Global.

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Reports Show Government Intends To Imply Stricter Regulations On Cryptocurrency ATMs

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Reports Show Government Intends To Imply Stricter Regulations On Cryptocurrency ATMs

In a press release yesterday, the federal agency stated that crypto kiosks, or cryptocurrency ATMs, played a major role in the increasing crimes. The United States GAO (Government Accountability Office) blames crypto kiosks for increasing drug trafficking and human trafficking.

Their reason, however, was that cryptocurrency ATMs aren’t as restricted as crypto exchanges, making their transactions harder to track. The GAO projects that it can be more difficult to curtail illegal transactions as crypto kiosks are becoming more and more popular in the U.S. and worldwide.

Related Reading | Altcoins Are Encroaching On Bitcoin’s Dominance On Digital Payments

To salvage these impending problems arising from crypto kiosks, the GAO recommended that the Financial Crimes Enforcement Network (FinCEN) and IRS cooperate to place more effective regulations on crypto ATMs.

Total Market Cap declines by 3% on daily chart | Source: TradingView.com

While observing the challenges in battling crypto-related crimes, GAO explained that the lack of information about crypto kiosks restrains law enforcement’s capability to defeat crime.

Several Agencies Battle Crypto Crimes

In the report, GAO also observes how, globally, cryptocurrencies are used in facilitating crimes and trafficking. Also, agencies have arisen to resist the increase of crypto-associated crimes. These agencies include the Immigration and Customs Enforcement (ICE), U.S Postal Service (USPS), and even the Internal Revenue Service (IRS).

The Irregularities of Crypto Crimes

Although the study shows that crypto-related crimes have upsurged irregularly. Recently, a new report from the crypto research company showed the contrary. In the latter research’s findings, crypto crimes reached their lowest point in 2021-contrary to its increasing volume of the entire blockchain transactions in the year.

Thus, as cryptocurrencies become more adopted, crypto-related crimes will simultaneously increase. However, the expansion of overall crypto transactions is far-outperforming some criminal activity.

Crypto Kiosks And Human Trafficking

The GAO’s report showed that cryptocurrency has recently been adopted as a means of payment for human trafficking. By ‘human trafficking,’ we imply sex trafficking and labor trafficking. More commonly, sex traffickers now adopt cryptocurrencies as a payment option.

Crypto ATMs And Drug Trafficking

The report also stated that after the shutdown of Silk Road-the online dark web market—in 2013, the entire hidden web marketplace has become more secure. Thus, making the marketplace for illicit drugs more difficult for the law to detect. Again, this is because of the growth of smaller marketplaces.

Tightening Gaps Against Cryptocurrency ATMs

The GAO’s problem with cryptocurrency ATMs is that, although the ATM operators must be registered with the FinCEN, they don’t usually notify law enforcement agencies about their ATMs’ locations. That action impedes the federal agencies’ access to locate ATMs in areas stated as high-risk regions for financial crimes.

Related Reading | American Rapper Lil Baby On Holding Bitcoin And Ethereum Over Fiat

Thus, by increasing regulations on cryptocurrency ATMs, the GAO presumes that enforcing the government will access better information. Also, they will be able to locate potentially illegal transactions.

Featured image from Pixabay, chart from TradingView.com
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India’s PM Calls For A Common Global Approach For Tackling Crypto

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At the WEF’s 2022 Davos agenda, Narendra Modi, Indian Prime Minister, called for a united global stand to tackle the issues emerging from the cryptocurrencies’ increasing adoption. The key takeaway of the Indian PM’s talk was, “A single country cannot tackle the challenges from crypto well enough.”

Call For A Standard Global Approach

Talking for all intents and purposes at the World Economic Forum’s 2022 Davos Agenda on Monday, the Indian Prime Minister discussed several challenges, including a requirement for a common global practice to deal with cryptocurrencies.

He said at the WEF agenda;

“The kind of technology that is associated with it, the decisions taken by a single country will be insufficient to deal with its challenges. We have to have a similar mindset.”

Despite not having significant industry regulations and laws for protecting investors, crypto trading in India keeps gaining traction. Due to profoundly different perspectives of crypto industry representatives and financial sector regulators, the government plans to pass a bill in this challenging situation to protect investors better.

The India PM added,

“Cryptocurrency is an example of the kind of challenges we are facing as a global family with a changing global order. To fight this, every nation, every global agency needs to have collective and synchronized action.”

Modi Government Undecided On Crypto Bill

In December 2022, during the winter session parliament discussion, the crypto bill was the top priority for the debates. Still, the government could not finalize things because it could not stand firm on a few critical issues.

Related Reading | India: A Back & Forth Affair With Cryptocurrency

According to some sources, the government concluded that they would look for worldwide help figuring out a common approach. Still, the authorities have not yet confirmed why they failed to produce the bill to parliament.

Total market cap at $1.977 trillion | Source: Crypto Total Market Cap on TradingView.com

Modi’s Recent Speeches And The Crypto

In the last quarter’s time span, the Indian Prime Minister has spoken at several world forums many times, but he never talked about this issue to the local audience in India.

In November 2021, at the Sydney Dialogue, Modi, in his speech, forewarned that we must protect emerging tech from any mishandling. Likewise, during the US President Joe Biden-facilitated Democracy Summit, Modi said emerging technologies ought to ensure a majority rule system, not subvert it.

Emphasizing his stance on the matter at the WEF’ Davos Agenda 2022, Modi noted,

“He reiterated this stance during his WEF speech yesterday. “That’s why every democratic nation has the responsibility to bring about an emphasis towards reforms in these institutions to make them capable enough to deal with modern challenges in the future.”

The event in question, Davos Agenda of the WEF, is being held from 17-21 this month, January 2022. Several state heads are lined up to address the event.

Related Reading | How India Sees Crypto: Large Exchange Shows 10x Growth In User Base

International organizations, top industry leaders, and civil society will also participate in the summit. It aims at the deliberations on critical challenges that the world faces today and discusses how to tackle them.

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Cardano Is One Potential Altcoin To Count On For Investment This Year

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Charles Hoskinson Discloses Arrival Time of DEX on Cardano