Weekly Crypto Digest |
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Weekly Crypto Digest

In our new digest, we put together our newsgathering from both the blockchain and financial world. Let's get down to business. 

UAE and Cryptocurrency 

The UAE Central Bank has issued a statement on a new three-year strategy for 2023-2026, which provides for the emergence of its digital coin. 

The country, which is one of the world leaders in the implementation of new technologies, is facing a massive digital transformation in the financial services sector, where artificial intelligence and blockchain will be integrated. 

Latin America 

Paraguayan Congressman Carlitos Rejala announced on his Twitter that he is ready to submit a bill on the introduction of cryptocurrencies (in particular, bitcoin) next week. 

This is the logical result of processes recently launched in El Salvador, where Bitcoin is recognized as an official and legal tender, followed by similar initiatives in Mexico, Peru, Brazil and Paraguay. This is good news for the entire Latin American EDC Blockchain community, as the use of the EDC coin as a means for the exchange of goods and services will become more affordable, while opportunities for the development of new products using EDC will increase. There is the most active and largest EDC Blockchain community in Latin America, accounting for ¼ of all transactions in the EDC network. 

The “domino effect” will be inevitable for other countries with the high inflation rate, which is rising every year. Reliable protocols with limited emissions (ex., only 100 million coins will be produced in the EDC Blockchain) are able to eliminate this “weak point” of traditional money. In favor of the further growth of digital coins, the factor of increasing the money issuance (which the global central banks are not going to stop yet) will play. 

Cybersecurity 

The Federal Bureau of Investigation (FBI) issued a warning that they expect an increase in hacker attacks on the accounts of private cryptocurrency investors and exchanges. 

Simple measures to preserve personal data, the use of verified and secure communication channels, and verification methods practically guarantees the reliability and security of your assets. 

Crypto Travel 

The international tour operator TRAVALA is ready to accept more than 40 different cryptocurrencies as payment for travel services. As for now, you can buy plane tickets and pay for a hotel or a car rental without converting your coins to fiat money. The project also created and launched its own native token under the AVA ticker. 

China

In China, the tightening of cryptocurrency regulation continues. After the actual prohibition of mining activity, supporting this industry in the media fell under censorship – the social network TikTok announced the ban on advertising financial services (including cryptocurrencies). 

Miners accumulating bitcoins  

Since the historical downturn in the cryptocurrency market in May 2021, there has been a trend towards the accumulation of coins among miners (according to Glassnode service). 

Apparently, the market participants have overcome fear. Bitcoin’s support zone ($30,000) has shown that investors are ready to absorb any volume offered by sellers, which confirms the reluctance of miners to sell their bitcoins on the estimated day. 

Believe in your choices!

Whenever available opportunities are spoken about in every magazine, it means that those opportunities have already been missed. You should always remember that successful crypto holders are people who not only chose a worthy project, but also waited for their success. 

This is what the example of the British programmer James Howells teaches. He has been looking for his hard drive with his bitcoins (which he once underestimated) in landfills for 9 years. 

The market value of his (literally) discarded digital assets would amount to $370 million. Investment funds, which are promised a reward of 50 million pounds sterling, are also involved in the search, while the national magazine The Sun includes the story of the programmer into their feed. 

Prioritize and reasonably estimate the opportunities offered – one of which is staking. EDC Blockchain rewards everyone for holding their coins via staking service, while new coins are generated in your wallet from day one. And of course, never forget your password. 

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