XRP added more than 100% to its price in 7 days, and participants of the Davos Forum opposed cryptocurrencies

XRP added more than 100% to its price in 7 days

Over the past weekend, XRP price increased 45%, reaching $0.6. For 7 days, the growth of the cryptocurrency was 109%, according to Coinmarketcap data.

The coin again took the 4th place in the ranking of the largest crypto coins by capitalization, beating Polkadot. Market participants believe that the explosive growth in the XRP rate is due to the joint actions of retail investors with Reddit and traders who are in Telegram and Discord groups.

Last week, literally within two days, Dogecoin has risen in price by more than 10 times. This happened after Twitter user WSB Chairman asked his many followers what cryptocurrencies they own. Later, he singled out the Dogecoin among those voiced by users, and the price of the coin rose sharply.

The Davos Forum supported the idea of regulators issuing stablecoins

Davos Forum participants harshly criticized the concept of decentralized crypto coins, the issue of which is not controlled by regulators

“Digital innovation in payments will stay with us forever, but cryptocurrencies won’t last long,” said Andrew Bailey, Governor of Bank of England.

He is confident that cryptocurrency assets do not exist in the form in which they were previously conceived. For example, “Bitcoin today does not meet the goals declared in its prospectus”.

The main criticism of regulators for today’s cryptocurrencies is their high volatility and almost arbitrary price, not tied to any real assets. According to Bailey, citizens need a means of settlement with a stable value and “they need to be sure that their money does not change in value on the way to the recipient.”

As a result, the forum participants came to the conclusion that the future should belong to digital currencies of central banks, tied to existing money.

Crypto Enthusiast: Four DeFi projects on Binance Smart Chain appropriated users’ cryptocurrency

Four DeFi projects have appropriated crypto coins from users of the Binance Smart Chain network by performing exit scams. Journalist Colin Wu wrote about this in his Twitter account with reference to several investors.

“Investors told WuBlockchain that another popcornswap project on Binance Smart Chain ran away and took away 48,000 BNB. Within a few days, Zap Finance, Tin Finance, and SharkYield also ran away. SharkYield just ran away and took away 6000 BNB, ”the journalist wrote.

According to Wu, Binance is investigating exit scams, but cannot freeze BNB assets. This explains the choice of a crypto coin by scammers. The representatives of the crypto exchange emphasized that Binance Smart Chain is a public blockchain, and users are independently responsible for the risks and verification of the code.

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