The Crypto World Is Buzzing; Here’s the Latest News

If the last days of August and the start of September are any indication, this month will be anything BUT slow for crypto.

The previous week on Twitter was just as exciting as recent price action, with most discourse going back and forth concerning our comments on Cardano (ADA, Tech/Adoption Grade “B-”) and its new anti-money laundering (AML) analytics — something I covered last week.

The discussion continued into this week, and its culmination will be next Friday — a date we’ve highlighted in our calendars.

At that time, we’ll have the opportunity to get into the minutiae, as well as the crux of the issue concerning the AML implementation:

To make it easier for everyone to follow our train of thought, as well as to understand our angle in the debate, we’ve posted the following thread (click on the image below to read the full thread):

The term “anti-money laundering” is misleading because it’s more about control and censorship than protecting the end user or limiting illicit activities. In its ultimate form, AML robs cryptocurrencies of their essence, which is not only a tool for facilitating economic activities, but also for providing censorship resistance and privacy.

As Juan Villaverde puts it, “To follow AML rules is to subject yourself to an ever-shifting set of guidelines designed to suppress your industry.”

As I write, ADA is making new all-time highs and is quite likely to continue at least until the official launch of smart contract functionalities on the mainnet. That should happen on Sept. 12.

But ADA isn’t the only crypto surging:

Solana (SOL) is the next big winner in our lineup. It’s a cryptocurrency we’ve recommended to our subscribers a bit ago, and its pent-up potential is finally making rounds in the Twitter community:

Not every crypto has risen with the tide, though.

As Alex Benfield recently reported, Polygon’s (MATIC) price action has slowed down in the first half of 2021, and lost momentum even further in Q3. This kind of price dynamic breeds fear, uncertainty and doubt (FUD). It has pushed skeptics to go as far as to put the survival of the entire network into question, making the argument that the Polygon network will become obsolete come ETH 2.0.

Here’s our take:

As an additional argument, make sure to read Alex’s article, linked in the paragraph above, as it also states how there’s a new technical setup for MATIC, one that could lift its price higher — and all on the wings of rising non-fungible token (NFT) adoption.

Last week, we issued a PSA informing the community about a bug that’s caused a chain split on the ETH network. (Click the image below for the full thread.)

While some of our readers used this opportunity to voice their support for a different crypto, we will take this opportunity to emphasize the importance of regular upgrades and vigilance when running nodes on the network.

Additionally, we want to take time to remind our readers about the importance of keeping your passwords and seed phrases secure. We’ve heard from a number of you about phishing scams where a person claims to be a rep of a centralized exchange to gain access to your account. Please remember that NO ONE should be asking for your two-factor authentication information — not even these exchanges.

As you can see, the crypto world is buzzing with activity and the upcoming week is sure to be a thrilling time for traders and enthusiasts alike.

Until then, stay safe and trade well.

Jurica Dujmovic