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Stellar (XLM) Hits Market Capitalization of $7.67 Billion

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Stellar (CURRENCY:XLM) traded up 4.8% against the U.S. dollar during the twenty-four hour period ending at 17:00 PM ET on February 6th. One Stellar coin can currently be purchased for approximately $0.42 or 0.00004872 BTC on major cryptocurrency exchanges including BCEX, GOPAX, Exrates and AEX. Stellar has a market capitalization of $7.67 billion and approximately $189.90 million worth of Stellar was traded on exchanges in the last day. Over the last seven days, Stellar has traded up 18.5% against the U.S. dollar.

Here’s how similar cryptocurrencies have performed over the last day:

  • Ripple (XRP) traded down 4.8% against the dollar and now trades at $1.03 or 0.00012037 BTC.
  • NEO (NEO) traded down 2.1% against the dollar and now trades at $111.10 or 0.01300720 BTC.
  • IOTA (MIOTA) traded down 3.3% against the dollar and now trades at $1.80 or 0.00021070 BTC.
  • TRON (TRX) traded down 6.7% against the dollar and now trades at $0.0432 or 0.00000505 BTC.
  • Tether (USDT) traded 0.2% lower against the dollar and now trades at $1.00 or 0.00011696 BTC.
  • VeChain (VEN) traded 1.8% lower against the dollar and now trades at $4.22 or 0.00049358 BTC.
  • Populous (PPT) traded 11.6% lower against the dollar and now trades at $26.46 or 0.00309729 BTC.
  • Binance Coin (BNB) traded down 3.6% against the dollar and now trades at $8.95 or 0.00104830 BTC.
  • U.CASH (UCASH) traded 51.3% lower against the dollar and now trades at $0.0952 or 0.00001114 BTC.
  • Status (SNT) traded down 2.2% against the dollar and now trades at $0.22 or 0.00002554 BTC

Stellar’s genesis date was July 19th, 2013. Stellar’s total supply is 103,689,123,972 coins and its circulating supply is 18,432,548,633 coins. Stellar’s official Twitter account is @stellarorg and its Facebook page is accessible here. Stellar’s official message board is stellarcommunity.org. The Reddit community for Stellar is /r/stellar and the currency’s Github account can be viewed here. The official website for Stellar is www.stellar.org.

According to CryptoCompare, “Stellar is public infrastructure for money. Supported by a nonprofit, Stellar brings the world together by increasing interoperability between diverse financial systems and currencies. Stellar is a technology that enables money to move directly between people, companies and financial institutions as easily as email. This means more access for individuals, lower costs for banks, and more revenue for businesses. Help better the world’s financial infrastructure by participating in our community or by building on Stellar.  “

Stellar Coin Trading

Stellar can be bought or sold on these cryptocurrency exchanges: Qryptos, Upbit, RippleFox, Binance, AEX, Gatehub, OKEx, Bittrex, CoinEgg, GOPAX, Exrates, Poloniex, Kraken, Mr. Exchange, Bitstamp (Ripple Gateway), Stellar Decentralized Exchange, BCEX and Bitcoin Indonesia. It is not presently possible to buy Stellar directly using US dollars. Investors seeking to acquire Stellar must first buy Bitcoin or Ethereum using an exchange that deals in US dollars such as Coinbase, GDAX or Changelly. Investors can then use their newly-acquired Bitcoin or Ethereum to buy Stellar using one of the aforementioned exchanges.

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Mexican narcos use bitcoin to ‘clean up’ revenue

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Mexico City.- Criminal organizations such as the Jalisco Nueva Generación Cartel (CJNG) or the Beltrán Leyva launches illicit proceeds in the United States and the rest of the world through virtual currencies such as bitcoin, the Drug Enforcement Administration assures (DEA , for its acronym in English).

According to the report National Evaluation of Drug Threat 2017, China is a fixed center for money laundering through large shipments of products manufactured in that country, where cryptocurrency is very popular.

‘In previous years, the preferred methods were money transfer systems (…) Today bitcoin and other virtual currencies allow cartels to transfer illicit profits on an international scale,’ the document said.

Last Wednesday the Attorney General’s Office (PGR) and the DEA created a joint team to combat the financial networks of drug trafficking.

That same day, Alfonso Durazo, future secretary of Public Security, reported that the anti-crime strategy of the next government will prioritize combating the economic resources of drug trafficking over the capture of gang leaders.

The narco prefers bitcoin to wash

According to the DEA, for a couple of years the Mexican cartels have been buying virtual currencies, which they use to purchase products in China that they sell later in Latin America.

For a couple of years cryptocurrency, mainly bitcoin, has become one of the most effective digital platforms to launder drug money, and the Drug Enforcement Administration (DEA) of the United States is looking for ways to stop this problem that grows every year.

According to the document National Evaluation of Drug Threat 2017, of which Excelsior has a copy, the transnational criminal organizations, where the Mexican women stand out as the Pacific cartel, the Beltrán-Leyva and the Jalisco Nueva Generación Cartel, are being well advised by brokers in the so-called deep web to use virtual currencies and launder illicit profits in the United States and other parts of the world.

‘In previous years, the preferred methods for moving and laundering illicit profits, that is, the smuggling of bulk money, was to use money transfer systems, money laundering based on commerce and the formal banking sector. Today the bitcoin and other virtual currencies allow the cartels to transfer, easily, illicit gains on an international scale, ‘said the document, which is signed by Chuck Rosenberg, who until the end of September 2017 headed the DEA, and then resigned due to friction with the President Donald Trump.

The data shown by the DEA for 2017 show that drug sales in the United States represent around 64 billion dollars, or 21% of the 300 billion dollars in illicit profits generated, currently, by all forms of crime in the United States. this country.

‘Drug trafficking is a very intensive cash enterprise, in dollars, so criminal organizations must overcome several obstacles to successfully launder and spend illicit profits,’ said the report declassified by the authority of that country.

For 2016, according to the analysis of the DEA, California, Georgia and Texas, three of the states with the largest seizures of dollars in bulk to drug trafficking reported seizures of 94.2 million dollars. This amount decreased significantly, by more than 50%, compared to the previous two years.

‘The decrease in seizures is indicative of the use of other more discrete methods of moving illicit money,’ he said.

According to the study Sex, Drugs, and Bitcoin: How Much Illegal Activity Is Financed Through Cryptocurrencies ?, published in January of this year, cryptocurrencies are among the largest unregulated markets in the world.

‘We found that approximately a quarter of the bitcoin users and half of the bitcoin transactions are associated with illegal drug trafficking activities. About 72 billion dollars of illegal activities per year involve bitcoin, which is close to the scale of the illegal drug markets in the United States and Europe. ‘

The changes

In 2016, the US authorities reported more than 2,800 incidents of bulk cash confiscation for drug trafficking issues totaling more than 336 million dollars. This meant a decrease of 27% compared to the 464.2 million dollars of the previous year in reported cash seizures.

Since 2010 there has been a steady decrease in the gross amount of bulk cash seizures throughout the United States. ‘This low could be indicative of the use of other more discrete methods to move illicit money such as cryptocurrencies, and could even explain the boom bitcoin has had in recent years,’ several analysts have suggested to the DEA.

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Bitcoin: New way to launder income of Mexican cartels

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Mexico City.- Some of Mexico’s main criminal organizations laundered their profits globally through the use of virtual currencies such as Bitcoin. The above according to the report National Evaluation of Drug Threat 2017, prepared by the Drug Control Administration (DEA).

In this regard, the institution noted that China has become a major center of money laundering, for which large shipments are used from the Asian country, where cryptocurrencies have become very popular currencies.

In previous years, the preferred methods were money transfer systems. Today bitcoin and other virtual currencies allow cartels to transfer illicit profits on an international scale, ‘the report says.
For this reason, the PGR and the DEA decided on Wednesday to form a joint team to combat the financial networks of drug trafficking, a strategy that promises to be more effective than capturing the leaders of criminal gangs.

In previous years, the preferred methods for moving and laundering illicit profits, ie the smuggling of bulk money, was to use money transfer systems, money laundering based on commerce and the formal banking sector. Today, bitcoin and other virtual currencies allow cartels to easily transfer illicit profits on an international scale, ‘the DEA informed.
He added that for 2017 the sale of drugs in the US, represented profits of 64 billion dollars, 21 percent of all illicit money generated in that country at present.

Meanwhile, a second study noted that currently half of the bitcoin transactions are linked to drug trafficking, which means a total of 72 billion dollars. This goes hand in hand with a decrease of 27 percent in cases of confiscation of cash money by drug trafficking.

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Vault Coin (VLTC) Cryptocurrency Daily Volume at $1 as Price Down to $0.000064

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The cryptocurrency market took a massive tumble in the week following the SEC’s announcement that it would postpone its ruling on whether to allow the listing of the Cboe VanEck/SolidX ETF backed by Bitcoin (BTC) to September 30. When all was said and done, the total market capitalization dropped to as low as $189 billion, levels not seen since November of last year.

However, since hitting that low on Tuesday, the market experienced a fairly sizeable altcoin bounce that brought back more than $35 billion in total capitalization. The relief rally intensified late in the week as major blockchain projects announced significant exchange listings, technological milestones, and system updates.

As we head into the next week, investors will likely be keeping their eye on the price action of BTC, as it has been denied by the $6,500-$6,600 range multiple times and currently sits at around 51% market dominance. How BTC acts here will likely be indicative to the next major movement.

Here’s the rest of the week in review:

Binance LCX, a joint venture between Binance and LCX, has announced the launch of an upcoming fiat-to-cryptocurrency exchange. Binance is set to provide and maintain the platform, while Binance LCX manages customer support, due diligence, legal requirements, KYC, AML and government communications. Binance LCX plans to build a team of roughly 10-15 individuals to fulfill the venture in their Lichtenstein office.

Tyler and Cameron Winklevoss, the founders of crypto exchange Gemini, aren’t overly fazed by the recent SEC decision. Instead, while they wait for Wall Street and the SEC to get on board with crypto, the company will focus on expanding its product offering focused on retail investors.

Toshi, the Ethereum mobile wallet, has recently been rebranded as Coinbase Wallet. The Coinbase-developed app has been revitalized with a new name as the service merges into a larger effort to invest in products set to define the future of the decentralized web.

Bitmain, a leading ASIC chip maker and crypto mining hardware manufacturer, has more than $570 million in Bitcoin Cash (BCH) holdings, according to a pre-IPO investor deck. According to the documents, Bitmain has 1,021,316 BCH, which it purchased at an average price of $869. While this represented a total holding of around $887 million at the time of the statement, BCH has since fallen in value to $573, which means that Bitmain has suffered a ~$317 million loss in a little over a quarter.

This week’s market recovery was primarily driven by gains in VeChain (VET), Ontology (ONT), and NANO (NANO). The AltDex 100 Index (ALT100), a benchmark index for the industry’s leading cryptocurrencies and tokens, finished flat this week and currently sits at 79.40.

AltDex 100
Other cryptocurrency categories were relatively mixed over the last week. The AltDex Exchange Token Index (ALTEXC), a benchmark index for the industry’s leading exchange tokens, fell over 7% while the AltDex Privacy Coin Index (ALTPRV), which tracks tokens focused on privacy or security, is up around 2%. The new AltDex Masternode Index (ALTMSN), which tracks major masternode cryptocurrencies, dropped over 4%.

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