Forwarded from TrendGuru AI
One more great deal in August. Low risk. Huge profit. Everything as we love.
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Closed deal IOTX/USDT
Open: $0.021736, 04.08.2021
Close: $0.070366, 24.08.2021
Profit: +223.73%
Duration: 21 days
Briefly about the instrument:
IoTeX is the decentralized backbone for machine economics which serves machines ranging from smart home devices to autonomous vehicles. To this end, IoTeX has built and launched a fast, high-performance, and EVM-compatible blockchain that provides flexibility and scalability for various applications. Also, middlewares and Dapps are built on top of the blockchain to bring self-sovereign devices and real-world oracles into reality.
IoTeX has several mechanisms that ensure the privacy of users and transactions. Some of these are ring signatures and the reliable payment code that hides the transaction receiver’s address. Delegated proof-of-stake works by having stakeholders vote for the block producers on the network. The number of block producers is set and once they are elected, they are responsible for adding new blocks to the blockchain. For doing it, they receive rewards that they can distribute to the stakeholders who voted for them, incentivizing block producers to continue working and stakeholders to continue voting for block producers.
This is a very promising project with a strong and experienced development team. Subscribe to @TrendGuruBot and earn hundreds of percent on such projects with our AI.
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Closed deal IOTX/USDT
Open: $0.021736, 04.08.2021
Close: $0.070366, 24.08.2021
Profit: +223.73%
Duration: 21 days
Briefly about the instrument:
IoTeX is the decentralized backbone for machine economics which serves machines ranging from smart home devices to autonomous vehicles. To this end, IoTeX has built and launched a fast, high-performance, and EVM-compatible blockchain that provides flexibility and scalability for various applications. Also, middlewares and Dapps are built on top of the blockchain to bring self-sovereign devices and real-world oracles into reality.
IoTeX has several mechanisms that ensure the privacy of users and transactions. Some of these are ring signatures and the reliable payment code that hides the transaction receiver’s address. Delegated proof-of-stake works by having stakeholders vote for the block producers on the network. The number of block producers is set and once they are elected, they are responsible for adding new blocks to the blockchain. For doing it, they receive rewards that they can distribute to the stakeholders who voted for them, incentivizing block producers to continue working and stakeholders to continue voting for block producers.
This is a very promising project with a strong and experienced development team. Subscribe to @TrendGuruBot and earn hundreds of percent on such projects with our AI.
Bitcoin Price Analysis: BTC Struggles Below $48K
Bitcoin price is struggling to climb above $48,000 against the US Dollar. BTC could decline heavily if it fails to stay above $46,500.
Bitcoin Price AnalysisBitcoin price made another attempt to clear the $50,000 resistance level. BTC even broke the $49,000 resistance level, but it failed to gain pace above $49,500.
A high was formed near $49,675 before the price started a downside correction. There was a break below the $49,000 and $48,500 levels. The price even traded below the $48,000 support level and the 55 simple moving average (4-hours).
Bitcoin price is struggling to climb above $48,000 against the US Dollar. BTC could decline heavily if it fails to stay above $46,500.
Bitcoin Price AnalysisBitcoin price made another attempt to clear the $50,000 resistance level. BTC even broke the $49,000 resistance level, but it failed to gain pace above $49,500.
A high was formed near $49,675 before the price started a downside correction. There was a break below the $49,000 and $48,500 levels. The price even traded below the $48,000 support level and the 55 simple moving average (4-hours).
Robert Kiyosaki Is Building His BTC Portfolio as He Prepares for Possible Market Plunge
Robert Kiyosaki – the author of the bestselling book “Rich Dad, Poor Dad” – has said in a recent tweet that he is hoarding bitcoin, gold, and silver in anticipation of a major market crash that he predicts could come as early as the end of the year.
Robert Kiyosaki On Why He’s Hoarding BTCKiyosaki has established himself as a major financial guru over the past few years given his growing list of books which began with the “Rich Dad, Poor Dad” franchise. The first book details the work he did for his friend’s rich father and all the investing and financial advice he garnered while being taken under his wing. It also details the spending and saving habits of his real father, a renowned college professor, and the differences in monetary habits between both men.
Robert Kiyosaki – the author of the bestselling book “Rich Dad, Poor Dad” – has said in a recent tweet that he is hoarding bitcoin, gold, and silver in anticipation of a major market crash that he predicts could come as early as the end of the year.
Robert Kiyosaki On Why He’s Hoarding BTCKiyosaki has established himself as a major financial guru over the past few years given his growing list of books which began with the “Rich Dad, Poor Dad” franchise. The first book details the work he did for his friend’s rich father and all the investing and financial advice he garnered while being taken under his wing. It also details the spending and saving habits of his real father, a renowned college professor, and the differences in monetary habits between both men.
Cardano (ADA) Price Analysis: Support Turned Resistance Near $2.30
Cardano price is down over 10% and it broke the $2.20 support against the US Dollar, similar to bitcoin. ADA price must clear $2.35 to start a fresh increase.
Cardano Price AnalysisAfter struggling to clear the $2.65 zone, cardano price started a major decline against the US Dollar. The ADA/USD pair broke the $2.50 support to move further into a bearish zone.
The price even broke the $2.20 support level and settled below the 55 simple moving average (4-hours). Finally, there was a spike below the $2.00 level. A low was formed near $1.973 before the price recovered higher. There was a wave above the $2.00 and $2.05 levels.
Cardano price is down over 10% and it broke the $2.20 support against the US Dollar, similar to bitcoin. ADA price must clear $2.35 to start a fresh increase.
Cardano Price AnalysisAfter struggling to clear the $2.65 zone, cardano price started a major decline against the US Dollar. The ADA/USD pair broke the $2.50 support to move further into a bearish zone.
The price even broke the $2.20 support level and settled below the 55 simple moving average (4-hours). Finally, there was a spike below the $2.00 level. A low was formed near $1.973 before the price recovered higher. There was a wave above the $2.00 and $2.05 levels.
BNB Fintech And Its Transformative Cryptocurrency Payments Infrastructure
The use of cryptocurrencies in making transactions is increasing, with the crypto market’s hosted coins rising to 11,000+ and a $2.39T market cap. BNB Fintech is a unique cryptocurrency ecosystem that looks to make a meaningful contribution to such payment systems.
Specifically, BNB Fintech will simplify buying and selling of cryptocurrencies. The platform will also utilize its native token, BNB Cash, to ease transactions. BNB Fintech’s team is comprised of experts in the fields of finance, IT, payment systems, and project management. Marketers and developers may soon be added as part of the staff.
The use of cryptocurrencies in making transactions is increasing, with the crypto market’s hosted coins rising to 11,000+ and a $2.39T market cap. BNB Fintech is a unique cryptocurrency ecosystem that looks to make a meaningful contribution to such payment systems.
Specifically, BNB Fintech will simplify buying and selling of cryptocurrencies. The platform will also utilize its native token, BNB Cash, to ease transactions. BNB Fintech’s team is comprised of experts in the fields of finance, IT, payment systems, and project management. Marketers and developers may soon be added as part of the staff.
Forwarded from TrendGuru AI
A lot of good deals in September. Look at one more of them. As always, excellent performance from our TrendGuru AI.
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Closed deal FTM/USDT
Open: $0.26867, 06.08.2021
Close: $1.3955, 08.09.2021
Profit: +419.41%
Duration: 33 days
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What Is FTM?
Fantom is a directed acyclic graph (DAG) smart contract platform providing decentralized finance (DeFi) services to developers using its own bespoke consensus algorithm.Together with its in-house token FTM, Fantom aims to solve problems associated with smart-contract platforms, specifically transaction speed, which developers say they have reduced to under two seconds.The Fantom Foundation, which oversees the Fantom product offering, was originally created in 2018, with the launch of OPERA, Fantom’s mainnet, coming in December 2019.
The platform’s compatibility with Ethereum means that users can purchase an ERC-20 standard FTM, which is automatically converted to native FTM once received to their wallet. Another version of FTM is available on Binance Chain using its BEP2 standard. Only the native FTM can be used on the Fantom OPERA mainnet itself.
Fantom attempts to use a new scratch-built consensus mechanism to facilitate DeFi and related services on the basis of smart contracts.
The mechanism, Lachesis, promises much higher capacity and two-second transaction finalization, along with improvements to security over traditional PoS algorithm-based platforms.
Matching Ethereum, the project appeals to developers looking to deploy decentralized solutions. According to its official literature, its mission is to “grant compatibility between all transaction bodies around the world.”
Its in-house PoS token, FTM, forms the backbone of transactions, and allows fee collection and staking activities, along with the user rewards the latter represents.
Subscribe to @TrendGuruBot and earn hundreds of percent on such projects with our AI.
💵💵💵
Closed deal FTM/USDT
Open: $0.26867, 06.08.2021
Close: $1.3955, 08.09.2021
Profit: +419.41%
Duration: 33 days
💵💵💵
What Is FTM?
Fantom is a directed acyclic graph (DAG) smart contract platform providing decentralized finance (DeFi) services to developers using its own bespoke consensus algorithm.Together with its in-house token FTM, Fantom aims to solve problems associated with smart-contract platforms, specifically transaction speed, which developers say they have reduced to under two seconds.The Fantom Foundation, which oversees the Fantom product offering, was originally created in 2018, with the launch of OPERA, Fantom’s mainnet, coming in December 2019.
The platform’s compatibility with Ethereum means that users can purchase an ERC-20 standard FTM, which is automatically converted to native FTM once received to their wallet. Another version of FTM is available on Binance Chain using its BEP2 standard. Only the native FTM can be used on the Fantom OPERA mainnet itself.
Fantom attempts to use a new scratch-built consensus mechanism to facilitate DeFi and related services on the basis of smart contracts.
The mechanism, Lachesis, promises much higher capacity and two-second transaction finalization, along with improvements to security over traditional PoS algorithm-based platforms.
Matching Ethereum, the project appeals to developers looking to deploy decentralized solutions. According to its official literature, its mission is to “grant compatibility between all transaction bodies around the world.”
Its in-house PoS token, FTM, forms the backbone of transactions, and allows fee collection and staking activities, along with the user rewards the latter represents.
Subscribe to @TrendGuruBot and earn hundreds of percent on such projects with our AI.
CEX.IO Exchange has reduced the fees for withdrawal to Visa cards to 2.5%
Currently, this is the lowest commission for withdrawal to Visa cards among all cryptocurrency exchanges. This promotion will not last long, so hurry to take advantage of this opportunity and register right now!
Currently, this is the lowest commission for withdrawal to Visa cards among all cryptocurrency exchanges. This promotion will not last long, so hurry to take advantage of this opportunity and register right now!
EOS Price Analysis: Bulls In Control Above $4.5
EOS price is showing positive signs above $4.50 against the US Dollar, similar to bitcoin. The price could rise further if it manages to clear the $5.00 resistance.
EOS Price AnalysisThis week, EOS price started a steady increase above the $4.35 resistance zone against the US Dollar. The price formed a base above $4.40 and it was able to settle above the 55 simple moving average (4-hours).
There was a break above the $4.50 and $4.65 resistance levels. Besides, there was a break above a major bearish trend line with resistance near $4.50 on the 4-hours chart of the EOS/USD pair. The pair surpassed the 50% Fib retracement level of the downward move from the $5.068 swing high to $4.220 low.
EOS price is showing positive signs above $4.50 against the US Dollar, similar to bitcoin. The price could rise further if it manages to clear the $5.00 resistance.
EOS Price AnalysisThis week, EOS price started a steady increase above the $4.35 resistance zone against the US Dollar. The price formed a base above $4.40 and it was able to settle above the 55 simple moving average (4-hours).
There was a break above the $4.50 and $4.65 resistance levels. Besides, there was a break above a major bearish trend line with resistance near $4.50 on the 4-hours chart of the EOS/USD pair. The pair surpassed the 50% Fib retracement level of the downward move from the $5.068 swing high to $4.220 low.
The largest crypto casino 7BitCasino gives out free bonuses to newcomers
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Strong Momentum Powering Polkadot, According to Crypto Analyst Michaël van de Poppe – Here Are His Target Zones
Popular crypto analyst and trader Michaël van de Poppe says there’s a lot of hype and momentum surrounding Polkadot (DOT) as the interoperability blockchain approaches the launch of its parachain auctions.
In a new strategy session, Van de Poppe tells his 140,000 YouTube subscribers that the seventh-largest crypto asset by market cap is “accelerating quite fast.”
Popular crypto analyst and trader Michaël van de Poppe says there’s a lot of hype and momentum surrounding Polkadot (DOT) as the interoperability blockchain approaches the launch of its parachain auctions.
In a new strategy session, Van de Poppe tells his 140,000 YouTube subscribers that the seventh-largest crypto asset by market cap is “accelerating quite fast.”
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El Salvador Increases Bitcoin Holding To Over $60 Million, Tron’s Justin Sun Scoops More BTC In Solidarity
Key takeaways
El Salvador buys the dip, adding another 150 Bitcoins to their reserve. Justin Sun in solidarity has added the same amount of Bitcoin to his holdings. El Salvador’s President Nayib Bukele keeps paying no attention to critics as the country keeps benefiting from Bitcoin. The crypto market experienced another crash that began late on Friday. In the last 24 hours, Bitcoin, the leading cryptocurrency, has fallen around 17% to hit $48,315.
Bitcoin had opened Friday at around $57,000 after nearly hitting $59,000 on Wednesday. The current price is the lowest the cryptocurrency has been at since late September.
Key takeaways
El Salvador buys the dip, adding another 150 Bitcoins to their reserve. Justin Sun in solidarity has added the same amount of Bitcoin to his holdings. El Salvador’s President Nayib Bukele keeps paying no attention to critics as the country keeps benefiting from Bitcoin. The crypto market experienced another crash that began late on Friday. In the last 24 hours, Bitcoin, the leading cryptocurrency, has fallen around 17% to hit $48,315.
Bitcoin had opened Friday at around $57,000 after nearly hitting $59,000 on Wednesday. The current price is the lowest the cryptocurrency has been at since late September.
Crypto.com Ads In The UK Have Been Shut Down By The Regulator In Charge
Advertising regulators in the United Kingdom have placed a ban on two Bitcoin ads from Crypto.com. This is another figure in what has been a rampage by the agency.
Shut Down AdsTwo Crypto.com advertisements were banned by the UK’s Advertising Standards Authority (ASA). The first banner ad appeared on The Daily Mail app on September 1st, with the text “Buy Bitcoin with credit card instantly” while the second was seen on the Love Balls app on the 30th of July guaranteed “up to 3.5% p.a.” with the text changing to “8.5%.”
The ASA believes that consumers would misconstrue the ad to mean that they should expect returns of up to 8.5% instead of 3.5%. They added that the ad did not take into consideration the risks involved in investing in the nascent market, stating that it was reckless and fed on the ignorance of users.
Advertising regulators in the United Kingdom have placed a ban on two Bitcoin ads from Crypto.com. This is another figure in what has been a rampage by the agency.
Shut Down AdsTwo Crypto.com advertisements were banned by the UK’s Advertising Standards Authority (ASA). The first banner ad appeared on The Daily Mail app on September 1st, with the text “Buy Bitcoin with credit card instantly” while the second was seen on the Love Balls app on the 30th of July guaranteed “up to 3.5% p.a.” with the text changing to “8.5%.”
The ASA believes that consumers would misconstrue the ad to mean that they should expect returns of up to 8.5% instead of 3.5%. They added that the ad did not take into consideration the risks involved in investing in the nascent market, stating that it was reckless and fed on the ignorance of users.
Pollen Mobile Will Pay Users in Crypto to Grow the Network
A new peer-to-peer (P2P) wireless network known as Pollen Mobile is emerging. What’s the clincher? The project is looking to pay its users in crypto for running their own mini cell towers. This will build out the network’s coverage in San Francisco, where the company is stationed.
Pollen Mobile Mixes Cell Phones with CryptoPollen Mobile was launched by Pronto AI, an autonomous vehicle startup which was begun by Anthony Levandowski. He was pardoned in 2021 by President Donald Trump after being sentenced to 18 months for allegedly stealing trade secrets.
It may seem odd at first that a vehicle company is pushing a new mobile network, but Levandowski – who is still the CEO of Pronto – explained that the technology is necessary for vehicles to connect with each other. In addition, Pollen Mobile is cheap, meaning the company doesn’t require a lot of incentives.
A new peer-to-peer (P2P) wireless network known as Pollen Mobile is emerging. What’s the clincher? The project is looking to pay its users in crypto for running their own mini cell towers. This will build out the network’s coverage in San Francisco, where the company is stationed.
Pollen Mobile Mixes Cell Phones with CryptoPollen Mobile was launched by Pronto AI, an autonomous vehicle startup which was begun by Anthony Levandowski. He was pardoned in 2021 by President Donald Trump after being sentenced to 18 months for allegedly stealing trade secrets.
It may seem odd at first that a vehicle company is pushing a new mobile network, but Levandowski – who is still the CEO of Pronto – explained that the technology is necessary for vehicles to connect with each other. In addition, Pollen Mobile is cheap, meaning the company doesn’t require a lot of incentives.
Biden’s Executive Order Isn’t All Positive For The Crypto Industry — A Look At The Downsides
Biden’s long-awaited executive order is finally here and has been largely received positively by crypto enthusiasts. However, Minnesota Congressman Tom Emmer raised some concerns that may have slipped past proponents.
Reading Between The LinesBiden’s executive order was originally expected to be released last month and has been long-awaited by crypto enthusiasts. The order was designed to give clarity on the position of the United States government on cryptocurrencies and other digital assets.
Biden’s executive order urged various federal agencies to carry out studies on the nascent market, considering the potential benefits and risks to consumers as well as placing urgency on CBDC development. The order made it clear that the US wanted to maintain its competitive edge when it comes to innovation. In an interview with CNBC, Bitwise’s Chief Investment Officer, Matt Hougan, admitted that while there was still more work to be done, the US had “taken the first step to establish a true regulatory regime for crypto.”
Biden’s long-awaited executive order is finally here and has been largely received positively by crypto enthusiasts. However, Minnesota Congressman Tom Emmer raised some concerns that may have slipped past proponents.
Reading Between The LinesBiden’s executive order was originally expected to be released last month and has been long-awaited by crypto enthusiasts. The order was designed to give clarity on the position of the United States government on cryptocurrencies and other digital assets.
Biden’s executive order urged various federal agencies to carry out studies on the nascent market, considering the potential benefits and risks to consumers as well as placing urgency on CBDC development. The order made it clear that the US wanted to maintain its competitive edge when it comes to innovation. In an interview with CNBC, Bitwise’s Chief Investment Officer, Matt Hougan, admitted that while there was still more work to be done, the US had “taken the first step to establish a true regulatory regime for crypto.”
Michael Jordan NFTs Coming to the XRP Ledger as XRP Sees Incredible Momentum in New Use Cases
XRP Ledger (XRPL) is seeing tremendous demand for its NFT hosting ecosystem, months after Ripple launched its NFT-focused “Creator Fund”.
In a blog dated April 7, Ripple announced that it had seen “incredible momentum and exciting NFT use cases come to life on the XRPL” with a list of leading creators joining its NFT ecosystem which is focused on bringing tokenized projects, the metaverse, gaming, and art to life.
Ripple’s creator fund is a $250 million commitment to support creators by providing them with the necessary tools, financial support, and partnerships to kick-start their projects on XRPL. Since its launch in September 2021, Ripple has onboarded close to 4000 creators under various projects via its creator fund including Justin Bua an award-winning artist and author, filmmaker Steven Sebring, and xPunks. XRPL has also partnered with various marketplaces and creative agencies including Mintable, VSA Partners, NFT PRO, Ethernal labs, and MintNFT to connect the convocation of diverse artists.
XRP Ledger (XRPL) is seeing tremendous demand for its NFT hosting ecosystem, months after Ripple launched its NFT-focused “Creator Fund”.
In a blog dated April 7, Ripple announced that it had seen “incredible momentum and exciting NFT use cases come to life on the XRPL” with a list of leading creators joining its NFT ecosystem which is focused on bringing tokenized projects, the metaverse, gaming, and art to life.
Ripple’s creator fund is a $250 million commitment to support creators by providing them with the necessary tools, financial support, and partnerships to kick-start their projects on XRPL. Since its launch in September 2021, Ripple has onboarded close to 4000 creators under various projects via its creator fund including Justin Bua an award-winning artist and author, filmmaker Steven Sebring, and xPunks. XRPL has also partnered with various marketplaces and creative agencies including Mintable, VSA Partners, NFT PRO, Ethernal labs, and MintNFT to connect the convocation of diverse artists.
StreamCoin (STRM) Is Now Available for Trading on LBank Exchange
INTERNET CITY, DUBAI, May. 6, 2022 – LBank Exchange, a global digital asset trading platform, has listed StreamCoin (STRM) on May 6, 2022. For all users of LBank Exchange, the STRM/USDT trading pair is now officially available for trading.
While live streaming has become a vital part of everyday life, there is still room for improvement. To bring live streaming to the next level, StreamCoin (STRM) utilizes the power of blockchain technology to develop the MeiTalk platform, so that it can provide better compensation for the streamers in the forms of platform fees, income, and profits, with features including simulcasting, video NFT minting and uploading, token rewards, special filters, multi-language subtitle auto-generating, and many more. Its native token STRM has been listed on LBank Exchange at 16:00 (UTC+8) on May 6, 2022, to further expand its global reach and help it achieve its vision.
INTERNET CITY, DUBAI, May. 6, 2022 – LBank Exchange, a global digital asset trading platform, has listed StreamCoin (STRM) on May 6, 2022. For all users of LBank Exchange, the STRM/USDT trading pair is now officially available for trading.
While live streaming has become a vital part of everyday life, there is still room for improvement. To bring live streaming to the next level, StreamCoin (STRM) utilizes the power of blockchain technology to develop the MeiTalk platform, so that it can provide better compensation for the streamers in the forms of platform fees, income, and profits, with features including simulcasting, video NFT minting and uploading, token rewards, special filters, multi-language subtitle auto-generating, and many more. Its native token STRM has been listed on LBank Exchange at 16:00 (UTC+8) on May 6, 2022, to further expand its global reach and help it achieve its vision.
Terra: Fast Growing into the Next Big Thing in DeFi
Terra is an open-source blockchain-based network for creating stablecoins pegged at their corresponding fiat currencies. Its native tokens are Luna (LUNA) and TerraUSD (UST).
The project was developed by South Korea-based firm Terraform Labs in 2018, being built on Cosmos SDK.
The network has since then welcomed a lot of products which has seen it grow massively within its four years of development, even overtaking the well renowned Binance Smart Chain (BSC).
Terra is an open-source blockchain-based network for creating stablecoins pegged at their corresponding fiat currencies. Its native tokens are Luna (LUNA) and TerraUSD (UST).
The project was developed by South Korea-based firm Terraform Labs in 2018, being built on Cosmos SDK.
The network has since then welcomed a lot of products which has seen it grow massively within its four years of development, even overtaking the well renowned Binance Smart Chain (BSC).
Coinweb is one of the most promising projects
Now the price of CWEB token on exchanges Gate.io and Kucoin grows against the market. The project is the killer of DOT and similar services. Now its price is only $0.02, although at the start of trading a few months ago it was worth more than $0.2. Analysts agree that the token could be worth more than $0.5 by the fall, and will reach $1 in 2023.
Now the price of CWEB token on exchanges Gate.io and Kucoin grows against the market. The project is the killer of DOT and similar services. Now its price is only $0.02, although at the start of trading a few months ago it was worth more than $0.2. Analysts agree that the token could be worth more than $0.5 by the fall, and will reach $1 in 2023.
Russia’s Industrial Giant Rostec Announces Blockchain-Based Alternative to SWIFT
Rostec, the Russian manufacturing and technology conglomerate, has developed a system allowing the processing of international settlements and storage of digital currency. The blockchain-based platform has been announced as an alternative to SWIFT, which is unavailable for some Russian banks.
Rostec Employs Distributed Ledger Technology to Substitute SWIFTRussian state-owned corporation Rostec has built a platform using blockchain technologies to facilitate international settlements between Russia and its partners and the storage of digital currency. CELLS is intended as an alternative to the global payment messaging system SWIFT, from which a number of Russian banking institutions have been disconnected as part of western sanctions.
Russia has been increasingly cut off from global finances, foreign currency reserves, and traditional payment channels as a result of its invasion of Ukraine. The government in Moscow has been trying to transition to payments in national currencies such as the ruble and the yuan in its trade deals, and is also considering the possibility of using cryptocurrencies for international settlements. This, as Russia’s largest companies and importers are facing difficulties in their U.S. dollar payments.
Rostec, the Russian manufacturing and technology conglomerate, has developed a system allowing the processing of international settlements and storage of digital currency. The blockchain-based platform has been announced as an alternative to SWIFT, which is unavailable for some Russian banks.
Rostec Employs Distributed Ledger Technology to Substitute SWIFTRussian state-owned corporation Rostec has built a platform using blockchain technologies to facilitate international settlements between Russia and its partners and the storage of digital currency. CELLS is intended as an alternative to the global payment messaging system SWIFT, from which a number of Russian banking institutions have been disconnected as part of western sanctions.
Russia has been increasingly cut off from global finances, foreign currency reserves, and traditional payment channels as a result of its invasion of Ukraine. The government in Moscow has been trying to transition to payments in national currencies such as the ruble and the yuan in its trade deals, and is also considering the possibility of using cryptocurrencies for international settlements. This, as Russia’s largest companies and importers are facing difficulties in their U.S. dollar payments.