- Bitcoin and major altcoins are still in tight ranges.
- Binance and Chainalysis will contribute to legitimizing the crypto sector.
Cryptocurrency market value has hardly changed since Tuesday as the doldrums continue to plague the industry. All major coins are moving within narrow ranges amid low trading activity and non-existent volatility.
BTC/USD is changing hands at $6,407, unchanged since this time on Monday. The coin managed to return to the area above $6,400 handle, though no follow through clouds the short-term technical picture for the digital coin No.1
Ripple’s XRP has gained 2.5% in recent 24 hours, and become the growth leader of the day among top-10 coins. XRP/USD is changing hands at $0.4680 with a neutral bias. The longer-term trend remains bearish.
Ethereum sits at 204 handle. The second largest coin by market value has been unmovable for about a week, which means that a breakthrough from the current tight range (which is imminent) will be really forceful.
Dash, the 13th largest coin, is also among the market leaders today, gaining about 1.5%.
No more money laundering
Meanwhile, Binance, the largest crypto exchange in the world, makes efforts to stamp money-laundering activities that involve digital assets.
Despite the fact that many cryptocurrencies like Ethereum, Bitcoin, Ripple, and others are less private than they are believed to be, governments and regulatory authorities all over the world keep suspecting that they are being used by criminals as handy channels for money-laundering.
To improve the image of the industry and fight the problem, Binance launched a collaboration with Chainalysis, the company that provides analytical services for Blockchain, tracks and evaluates suspicious addresses and transactions. Their joint efforts will contribute to legitimizing the crypto sector.
Co-founder and COO of Chainalysis, Jonathan Levin commented:
“Cryptocurrency businesses of all sizes face the same core challenge: earning the trust of regulators, financial institutions and users. We expect many to follow Binance’s lead to build world-class AML compliance programs to satisfy regulators globally and build trust with major financial institutions,” said Jonathan Levin, co-founder, and COO of Chainalysis.
Share
