Singapore-based crypto analytics firm Chainalysis has launched two screening tools – Chain Oracle and API (Application Programming Interface) to identify the country from where the crypto wallet originates.
The development comes as cryptocurrency platforms such as exchanges and Decentralised Finance grapple to comply with global sanctions on Russia, in response to that country’s invasion of Ukraine.
Chainalysis stated in a blog post that it is concerned “about the potential for cryptocurrency to be used by sanctioned entities and individuals in Russia for sanctions evasion.”
Meanwhile, Malaysia-based MY E.G. Services Berhad (MyEG) has joined the growing non-fungible token (NFT) space.
According to various media reports, the company announced its official entry into NFTs with the launch of NFT Pangolin.
MyEG said the global NFT marketplace supports the issuance and trading of NFTs and is set to operate on the soon-to-be-launched Zetrix Layer 1 blockchain network.
In the cryptocurrency market, the price of Bitcoin (BTC) was down by 0.57 per cent in the last 24 hours, while it was trading at $39,022.42 at 4:30 pm IST.
Its dominance in the crypto market is currently at 42.4 per cent, down by 0.12 per cent in the last 24 hours, according to Coinmarketcap.com.
In the last 24 hours, Ethereum (ETH) was trading at $2,599.67, down 0.14 percent, while Binance Coin (BNB) fell 1.37 percent to $372.76. Solana (SOL) was down by 1.16 per cent to $82.03 and Cardano (ADA) was down by 0.71 per cent to $0.8029.
Coins of Meme
Among meme coins, Dogecoin was up by 0.10 per cent and was trading at $0.1166 at 4:30 pm on Coinmarketcap.com.
Rival Shiba Inu was down by 1.93 per cent in the last 24 hours and was trading at $0.00002237.
Dogelon Mars was down by 1.23 per cent and was trading at $0.0000007022, while Samoyedcoin was trading at $0.01833, recording a fall of 2.91 per cent in the last 24 hours.
The global crypto market cap was at $1.75 trillion, registering a decrease of 0.13 percent in the last 24 hours, while the total crypto market volume was $89.35 billion, up by 27.91 percent.