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In a surprising move, Russia has turned to cryptocurrency for cross-border settlements and transactions amidst ongoing sanctions following its invasion of Ukraine. The decision to explore this alternative mode of payment has raised eyebrows in the cryptocurrency world and sparked discussions about its potential impact on global trade. Read on for further details.

During the Banks. Transformation. Economy. 2.0 conference in Moscow, Russias Deputy Finance Minister, Alexey Moiseev, discussed the potential use of crypto assets in certain scenarios, specifically in relation to foreign trade activities that are currently restricted by Western sanctions. Moiseev also highlighted that the State Duma, the lower house of the Russian parliament, is currently considering a draft law to regulate this matter.

As reported by RIA Novosti news agency, Moiseev said, Of course, crypto is generally evil. I believe that people who invest their savings there take a very big risk But there may be individual situations in which crypto can be used.

Alexey Moiseev stated that experiments would be conducted if the bill was adopted. He explained that a committee, consisting of representatives from several ministries, the Bank of Russia, and law enforcement agencies, would be formed to grant permission to specific operators to use cryptocurrencies in foreign trade transactions.

According to Alexey Moiseev, the legislative procedure required to provide the legal foundation for the trials would probably not start until the years end. For a long time, lawmakers and government representatives have been debating various facets of Russias regulatory strategy regarding cryptocurrencies.

As Western sanctions on Russia increased following its invasion of Ukraine, state institutions have recognized the necessity of using cryptocurrency for cross-border settlements. While most decentralized cryptocurrencies are still not legalized for transactions within Russia, they are permitted for international payments under special legal regimes that have yet to be established. This shift in perspective highlights the growing importance of cryptocurrency in the face of geopolitical tensions.

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Russia To Use Evil Cryptocurrency For Foreign Trade; Heres Why. - Coinpedia Fintech News

SAN ANGELO, Texas Dr. Joshua Hendrickson, chair of the Department of Economics at the University of Mississippi, will give a special guest presentation at Angelo State University at 5:30 p.m. Tuesday in Room 100 of the Cavness Science Building, 2460 Dena Dr.

In November 2022, the cryptocurrency exchange known as FTX collapsed. The speed with which it collapsed was shocking, especially given the meteoric rise of the company and the reputation of its founder, Sam Bankman-Fried, as an eccentric financial genius.

According to an ASU press release, his presentation titled "Scam, Bank Run, and Fraud," Hendrickson will explore the cause of the collapse of FTX. Was it a scam? A bank run? Fraud? After answering these questions, he will contrast the recent turmoil in cryptocurrency markets with the original cypherpunk vision for a private, electronic form of cash.

Sponsored by the Texas Tech University Free Market Institute at Angelo State University, Hendrickson's presentation is free and open to the public.

Also an associate professor of economics at Ole Miss, Hendrickson's research interests are at the intersection of monetary economics, public finance, political economy and historical economic development.

Within monetary economics, he studies everything from historical monetary institutions to modern monetary policy to Bitcoin. Within political economy, he has used the tools of economics to understand revolutions, the decision to go to war, and how the national defense motive shapes the state and its policies and institutions.

Hendrickson's work has appeared in the Journal of Money, Credit and Banking, the Journal of Economic Dynamics and Control, Macroeconomic Dynamics, the Journal of Economic Behavior & Organization, Economics & Politics, Economic Inquiry, the Journal of Macroeconomics and the Southern Economic Journal. He received his Ph.D. in economics from Wayne State University and his M.A. and B.A. in economics from the University of Toledo.

The Texas Tech University Free Market Institute at Angelo State University aims to advance research and teaching related to the free enterprise system and the institutional environment necessary for it to function well, and to support the missions of the ASU Norris-Vincent College of Business. The institute also develops and operates student and public programming for the benefit of ASU students and the San Angelo community.

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Angelo State to hold presentation on cryptocurrency collapse - MyFoxZone.com KIDY

Any cryptocurrency that has debuted since Bitcoin is referred to as an altcoin (BTC). Some Designers cloned the open-source code of Bitcoin in its early stages to produce alternative currencies. With differing supply cycles and privacy characteristics, various Bitcoin alternatives started to drift more from its forerunner over time.

A proliferation of Bitcoin-altcoin trading pairings appeared alongside altcoins, spurring a rise in market activity as investors took advantage of the erratic nature of these digital currencies to earn high-risk profits. As a greater variety of use cases for the technology have been feasible, the advent of altcoins and their corresponding blockchain networks heralds a period of exploration and maturation within the cryptocurrency sector.

As he anticipates a year of restoring trust,Pantera CEO Dan Morehead claims that this cycles lows for Bitcoin and other cryptocurrencies are behind us. Some market players continue to believe that fresh macro lows are imminent across all crypto assets, despite BTC price movement having marginally reversed after rising 40% in January.Although there is no universal agreement on when such a situation may occur, it is still unclear how the market would recover.But Morehead believes that the moment has come to switch to a bullish position on cryptocurrencies.He said that theyve gone through 35 years of comparable cycles, and Pantera has been through 10 years of Bitcoin cycles.

By ignoring the controversy about the price connection of cryptocurrencies with risky assets like stocks, that viewpoint departs from the majority. This serves as the foundation for several other predictions for 2023, as Cointelegraph will continue to cover.Despite falling below its previous bull market all-time high after the FTX fiasco in November 2022, Morehead said that the market had been well within the historical context following the drop from Bitcoins most recent all-time highs.The median of the normal cycle was represented by the drop from November 2021 to November 2022. The prior bull market was only partially erased by this down market. Giving back 136% of the prior rally in this instance, he noted with supporting evidence.

While Pantera set itself up for a year of rebuilding confidence in centralized finance (CeFi) first and foremost, similar optimism was aimed toward the decentralized finance field. Given the numerous company failures that occurred last year and contributed to the crypto bear market, Morehead argued that this would be required.

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Disclaimer:This is a paid release. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of Bitcoinist. Bitcoinist does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.

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Mooky coin news: Altcoins are presently dominating the cryptocurrency market | Bitcoinist.com - Bitcoinist

Bitcoin and other cryptocurrencies have been seemingly moving in lockstep with the traditional stocks and bonds over the past year amid a bearish market, but on-chain indicators show that correlation is starting to fade.

Cryptocurrencies have long been seen as digital assets that dont follow traditional markets, making them an ideal option to get uncorrelated exposure. Given the recent divergence in performance between cryptocurrencies and traditional assets, that notion may be returning.

In the meantime, cryptocurrency investors dont appear to be buying and selling at a rapid pace relative to recent years, which can account for reduced volatility in the digital asset market. There was certainly a lot of selling in 2022 during the crypto bear market, but on-chain indicators could be signaling the end of downturn.

Although Bitcoin and digital assets are prone to market volatility, a number of on-chain indicators which represent collective human decisions have remained remarkably consistent, a Medium article said. According to Glassnode, several on-chain indicators are pointing to a potential end (or at least a significant improvement) of bear market conditions.

Bitcoin has been vacillating up and down the $30,000 mark most recently, pushing over a 60% gain year-to-date as it continues to recover from 2022s bearish pressure. The price rally was helped by the recent banking crisis as fear and doubt in the traditional financial system may have pushed investors to alternative assets, including cryptocurrencies, as a hedge.

We observe that many of these coins are being held tightly by buyers, while profits are being taken, and network utilization is improving, the article added. All of these factors support Bitcoins strong market performance so far this year.

While cryptocurrencies still have a way to go in terms of getting a regulatory framework in place, this may detract investors from the space. However, theres another option via exchange traded funds (ETFs), which can track the price movements of bitcoin.

As such, a price rally in bitcoin could offer investors opportunity in ETFs, which fall under a regulatory framework for safer investing. Among the ones to consider are the ProShares Bitcoin Strategy ETF (BITO), theValkyrie Bitcoin Strategy ETF (BTF), theVanEck Bitcoin Strategy ETF (XBTF), and theSimplify Bitcoin Strategy PLUS Income ETF (MAXI).

For more news, information, and analysis, visit theCrypto Channel.

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On-Chain Indicators Pointing to End of Cryptocurrency Bear Market - ETF Trends

Bitcoin (BTC), the oldest and most valued crypto coin, dipped below the $28,000 mark early Wednesday before managing to reclaim the $28,000 mark again at the time of writing. Other popular altcoins including the likes of Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), and Litecoin (LTC) landed in the reds across the board. The Maker (MKR) token managed to become the top gainer among the lot, with a 24-hour jump of 3 percent. Internet Computer (ICP) became the top loser, with a 24-hour loss of nearly 9 percent.

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The global crypto market cap stood at $1.16 trillion at the time of writing, registering a 24-hour dip of 1.80 percent.

Bitcoin price stood at $28,024.81, registering a 24-hour dip of 1.90 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 24.89 lakh.

ETH price stood at $1,829.50, marking a 24-hour loss of 0.91 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 1.61 lakh.

DOGE registered a 24-hour dip of 0.06 percent, as per CoinMarketCap data, currently priced at $0.07858. As per WazirX, Dogecoin price in India stood at Rs 7.

Litecoin saw a 24-hour loss of 0.29 percent. At the time of writing, it was trading at $87.14. LTC price in India stood at Rs 7,550.03.

XRP price stood at $0.4631, seeing a 24-hour dip of 0.26 percent. As per WazirX, Ripple price stood at Rs 40.80.

Solana price stood at $21.79, marking a 24-hour loss of 1.47 percent. As per WazirX, SOL price in India stood at Rs 1,969.90.

As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:

Maker (MKR)

Price: $70624-hour gain: 3.17 percent

Frax Share (FXS)

Price: $7.7424-hour gain: 2.02 percent

Rocket Pool (RPL)

Price: $46.2324-hour gain: 1.99 percent

Chiliz (CHZ)

Price: $0.125924-hour gain: 1.58 percent

USDD (USDD)

Price: $0.99824-hour gain: 0.88 percent

As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:

Internet Computer (ICP)

Price: $5.7124-hour loss: 8.92 percent

Render Token (RNDR)

Price: $2.1424-hour loss: 8.87 percent

MultiversX (EGLD)

Price: $40.2024-hour loss: 7.60 percent

XDC Network (XDC)

Price: $0.0374224-hour loss: 6.72 percent

Huobi Token (HT)

Price: $3.3224-hour loss: 5.14 percent

Mudrex co-founder and CEO Edul Patel told ABP Live, Bitcoin started the week trading in the red experiencing a slight decline, as investors geared up for a significant week of US economic data events. BTC is presently trading at $28,000, having peaked at $29,900 during the weekend. Meanwhile, Ethereum's trading remained unchanged at the $1,800 mark. Investors are closely monitoring the US Federal Reserve's scheduled interest rate hikes on Wednesday, as well as the non-farm payroll data for April on Friday.

WazirX Vice President Rajagopal Menon said, Bitcoin (BTC) started the US trading week trading below $28,000 amid news of regulators' imminent seizure of First Republic Bank. However, JPMorgan winning the auction to buy First Republic assets reinforced the banking sector's preparedness to address crises. On WazirX, iExecRLC (RLC) and UMA (UMA) have been the top gainers in the last 24 hours.

Sathvik Vishwanath, CEO and co-founder of Unocoin said, Bitcoin's market cap is $541 billion, ranking it #1 on CoinMarketCap. Candlestick patterns indicate bearish sentiment, while RSI and MACD indicators predict a potential downtrend in Bitcoin price today. Bitcoin may encounter immediate support at the $27,600 level, marked by the trend line on the 4-hour chart. If the price breaks below this level, the next support level is at $27,200.

Shivam Thakral, the CEO of BuyUCoin, said, The crypto market cap dipped by 1.8 percent after the Labour Day long weekend. BTC slipped below the $28,000 mark briefly while ETH is trading just above the $1,800 mark. There are a lot of factors that will move the market this week such as JPMorgan bailing out the First Republic Bank, the US jobs report, and the US Fed rate hike. Overall sentiment for the crypto market looks positive but the market liquidity crisis may act as a deterrent to market momentum.

Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Cryptocurrency is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Cryptocurrency market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.

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Cryptocurrency Price Today: Bitcoin, Ethereum, Other Top Coins Fail ... - msnNOW