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In 2021, only 20% of the stolen funds were Bitcoin, whereas 22% were either ERC-20 tokens or altcoins. And for the first time ever, Ether accounted for a majority of the funds stolen at 58%

The left shoulder formed as the REN price climbed and then fell into a trough in mid-December 2021. Later, it abruptly recovered to produce a higher peak — above the highest height of the first shoulder — before crashing back down.

Visa’s director of crypto disclosed that the payments giant has started working with roughly 60 leading crypto platforms to create card programs that make it easy for users to convert and spend digital currency at 80 million merchant locations across the world.

The official documentation, which was published on Monday, includes a risk assessment for the Republic of Cyprus in relation to money laundering threats associated with virtual asset operations and virtual asset service providers (VASPs). The Ministry of Finance of Cyprus stressed that there is a “limited direct understanding or experience” regarding money laundering risks of crypto in the country. According to the statement, institutions such as the Cyprus Securities and Exchange Commission (CySEC) and local enforcement authorities have shown a “sophisticated level of expertise of the sector.” Local financial companies should “implement documented rules and processes to comply” with the wire transfer rule for virtual currencies, according to the ministry.

On December 7, the cryptocurrency market is back in good spirits after the wider market recovered from the price drop in Bitcoin (BTC) on December 3. Bulls are currently attempting to push Bitcoin (BTC) over the $52,000 support/resistance level, while Ether (ETH) is attempting to reclaim $4,400, but both assets are hitting resistance at the above resistance level. Even while BTC and ETH have stabilized, traders’ shift in sentiment has benefited altcoins, with many seeing gains of more than 50% in the last 24 hours. The biggest gainers over the past 24 hours were SuperFarm (SUPER), PolkaBridge (PBR), and BitTorrent (BTT). After hitting a low of $1.02 on December 6, the price of SUPER soared 81% to a daily high of $1.81 on December 7, with a 500% increase in 24-hour trading volume to $323 million. PBR’s price soared 99.4% to a daily high of $1.71 on Dec. 7 after hitting a low of $0.85 on Dec. 6, with its 24-hour trading volume increasing by 80% to $10.2 million.

Central banks in Europe have been stepping up their attempts to use distributed ledger technology (DLT), the underlying technology of blockchain, in central bank money settlements. Banca d’Italia and Deutsche Bundesbank, the central banks of Italy and Germany, respectively, joined forces to work on settlements in central bank money of DLT-based asset exchanges. According to the release, the new approach would reduce counterparty risk for both parties by keeping the delivery-versus-payment manner of settlement. The programmable trigger would provide a technical bridge between conventional payment systems utilized by Eurosystem central banks and the DLT-based settlement of tokenized assets, complementing the digital euro.

Altcoins tend to benefit during bull markets when Bitcoin price consolidates, and they run in tandem with BTC price during breakouts. Multiple cryptocurrencies went parabolic at the same time that Bitcoin (BTC) touched $64,000 and Ether (ETH) achieved a new all-time high above $4,500, indicating that the same dynamic is at work today. According to Messari statistics, 31 coins have set new highs in the last 24 hours, and the entire cryptocurrency market cap has risen from $2.619 trillion to $2.732 trillion. According to CoinGecko, after hitting a low of $0.125 on Oct. 17, the price of LCX has risen 250 percent to a daily high of $0.44 on Nov. 2, with a 257 percent increase in 24-hour trading volume to $18.3 million.

According to a key industry leader, the Russian cryptocurrency sector has expanded to hundreds of billions of dollars despite the lack of adequate cryptocurrency legislation. On Wednesday, Sergei Khitrov, the creator of the Russian cryptocurrency events Blockchain Life and Listing.Help, presented a keynote lecture at the VII Blockchain Life Forum in Moscow on the condition of cryptocurrency regulation in Russia. Based on insights including local cash flows related to services like cryptocurrency mining, Khitrov estimated the Russian crypto market to be worth 20–40 trillion rubles ($280–$550 billion). He also claimed that Russian crypto businesses could generate as much as 284 billion rubles ($4 billion) worth of taxes per year, should the Russian government provide more comfortable regulations for the industry.

Ren (REN), a blockchain protocol meant to enable interoperability and liquidity between multiple blockchain platforms, has gained steam in the last month and a half, as activity in the decentralized finance (DeFi) sector has increased. According to data from Cointelegraph Markets Pro and TradingView, after hitting a low of $00.41 on Aug. 9, the price of REN has risen %185 to a daily high of $1.16 on Sept. 15, with its 24-hour trading volume increasing %443 to $673 million.

Bullish movements in the price of Bitcoin and Ethereum (ETH) have reignited talk of a 2013-style double-pump rally that may send the price of Bitcoin (BTC) beyond $100,000. The uptick in prices hasn’t been restricted to the top two market leaders. Many altcoins are still rallying, and the ‘altseason’ indicator from Cointelegraph Markets Pro suggests that the trend may continue for some time. The overall cryptocurrency market cap now stands at $2.214 trillion and Bitcoin’s dominance rate is 41.9%.