Binance’s CEO Says Cryptos Unsuitable For Avoiding Sanctions; Opera Dives Deep Into Web 3

Chengpeng Zhao, CEO, Binance, the world’s largest crypto exchange by volume, has tweeted that cryptocurrencies are “terrible for avoiding sanctions”. He said the reason is simple: “It is traceable.”

While Binance had stated that it will not ban Russian users transacting on the platfrom, it would not accept transactions from cards issued by banks under sanction. Meanwhile, Opera web browser has added support for Solana, Polygon, Ronin, Celo, Nervos DAO, IXO and Bitcoin crypto blockchain networks. 

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The global crypto market cap increased by 1.54 per cent to $2.16 trillion at 8.50 am. However, the global crypto volume decreased by 3.63 per cent to $112.34 billion, as per Coinmarketcap data. 

“The market leaders, Bitcoin and Ether, traded flat in the past 24 hours. Overall, the market is down and in red at the moment. This performance seems to be a result of Russia’s unprovoked invasion of Ukraine and new signs of a worsening global economic environment,” says Gaurav Dahake, CEO and founder, Bitbns.

Crypto is terrible for avoiding sanctions for a simple reason. It is traceable.

Cash on the other hand…

— CZ 🔶 Binance (@cz_binance) March 30, 2022

 

Cryptocurrency Prices

Bitcoin (BTC), the world’s oldest cryptocurrency, was trading at $47,213.08, higher by 0.04 per cent in the last 24 hours.

Ethereum (ETH), the second-largest cryptocurrency by market capitalisation, was also trading higher by 1 per cent at $3,407.32.

Among other major coins, Cardano (ADA) was up by 1.36 per cent at $1.20, Algorand (ALGO) by 5.09 per cent at $0.9504, Binance Coin (BNB) by 3.54 per cent at $446.25, Solana (SOL) by 10.68 per cent at $121.73, and Polkadot (DOT) was also trading higher by 2.52 per cent at $22.66.

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Today’s top gainer was Dotmoovs (MOOV), which was up by 236.17 per cent at $0.02242. The top loser was MYCE (MYCE), which was down by 36.84 per cent at $0.03663.

Meme Coin And DeFi Prices

Dogecoin (DOGE) was up by 2.17 per cent at $0.1448. Its volume to market cap ratio stands at 0.04323. Rival Shiba Inu (SHIB) also rose by 3.25 per cent at $0.00002777.

Dogelon Mars (ELON) was trading with a gain of 0.3 per cent at $0.0000001069, Floki Inu (FLOKI) climbed 1.66 per cent at $0.00003708, while Samoyed Coin (SAMO) gained 4.1 per cent at $0.02261.

In the DeFi segment, YFI (yearn.finance) was trading with a gain of 4.13 per cent at $24,064.93. Terra (LUNA) was, however, down by 0.05 per cent at $106.59. On the other hand, Avalanche (AVAX) gained 7.68 per cent to $98.52, Uniswap (UNI) rose 11.63 per cent to trade at $12.37, and Aave (AAVE) lost 1.45 per cent to $221.21.

Latest Update

Implementing different blockchain networks into the Opera web browser is part of their WEB 3.0 initiatives. 

“Ever since we started in the Web 3.0 space in 2018, we’ve been sealing partnerships with the most popular and cutting edge blockchains and web 3.0 domain name providers in order to accelerate crypto’s evolution from proof of concept towards mass adoption,” said Jorgen Arnesen, EVP Mobile at Opera.