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Crypto demonstrates one of the best growth in a row of 'classic' assets. Hackers continue their attacks - this time: KuCoin. Deutsche Bank believes Chinese yuan is a major future competitor for US dollar.
101 percent. This is exactly how much have this coin’s price gained since September 2019. As of September 1, 2020, it cost $487 against $178 last September at all. Vitalik Buterin creation’s daily turnover is only third largest after Bitcoin’s and Tether’s.
Cryptocurrency Cardano continues demonstrating steady growth too. It has just reached the highest-ever price in just a month, and showed 30 percent growth within last week. As of today, Cardano is the ninth most popular cryptocurrencies globally.
Crypto world was again terrified with massive robbery last week: this time, malefactors hacked KuCoin exchange and leaked over $13 million worth of assets, estimated as of now. Crypto-trading and -storing platforms tried to block the leak upon detecting by offering an update for their software, which would block the stolen coins as default. But much of the stolen funds, as we now realise, had been cashed and/or ‘laundered’ through various decentralized crypto-exchanges.
Thus, user anonymity of KuCoin-like exchanges together with no requirements for KYC procedures makes these platforms and ideal mean of ‘dirty’ crypto-coins ‘laundering’.
Experts from German Deutsche Bank stated, that boosting development of national digital currencies may to a large extent push the US dollar from the pedestal of the main global currency. Overcoming through the tough times because of COVID-19 and negative geopolitical horizon, national currency of the United States seems like the one that can potentially lose competition to Chinese yuan.
As commonly known, China has been working thoroughly on its national digital coin for quite a while already and has just launched this coin-based payment system testing. Rest assured, we will see the appearance of digital yuan in the near future and yuan has all the potential to substitute USD as a major global reserve currency, when SWIFT-network will be cancelled, says Deutsche Bank.
What will the answer of United States be? Check our Crypto News and know everything first.