ETC

Privacy coins have been the lasting concern of the governments and financial authorities. Their enhanced anonymity features allow to use the coins for illegal purposes such as tax evasion, money-laundering, terrorism financing, drug trading, cryptojacking, etc.

A lot of people don’t know the difference between cryptocurrencies, stablecoins, and privacy coins. On one hand, both stablecoins and privacy coins belong to cryptocurrency. However, these kinds of coins possess peculiarities cryptos like bitcoin don’t have.

The governor of the Bank of England admitted that payment innovations like cryptocurrency, stablecoins, central bank digital currencies (CBDC), etc., have been gaining momentum due to the lockdown.

The privacy offered by Monero is putting this cryptocurrency in trouble by raising more regulatory concerns among financial watchdogs.

2020 is the year of DeFi. The total market value, user volume, and lock-up funds pf DeFi have skyrocketed, driving the rapid rise of decentralized lending, derivatives, decentralized stablecoins, DAOs, DEXs, oracles, etc.

2020 has seen a significant increase in the number of scams related to cryptocurrency. To lure out people’s money, scammers constantly improve their schemes and invent new approaches to look more reliable and trustful.

As of now, sharing content on the Internet is quite a problematic industry. Content creators often face stealth of their work, difficulty while copyright verification, onfair royalty distribution, etc. The reason for this is the centralized nature of most content sharing platforms.

A study has been published showing that issuing stablecoins such as Tether and Circle’s USD Coin (USDC), don’t cause the prices of other digital currencies like Ether, Ripple, etc. to surge. So far, there have been few sentiments in the cryptoasset industry that the connection between stablecoin issuance and digital currency price is large.

This week the crypto currencies outlook has divergence performance. Ethereum Classic and Monero are still making positive moves as the respective markets reach the overbought region of the daily indicators. The altcoins are presently retracing in the overbought regions. Meanwhile, Tezos, Stellar and LINK are presently in a sideways trend as the coins battle the overhead resistances.